Saturday, 30 August 2014
Last updated 17 hours ago
Feb 19 2014 | 11:34am ET
Third Point has added new stakes in BlackBerry and T-Mobile US, and may have slashed its investment in Sony Corp.
Third Point's 13-F filing for the fourth quarter shows new positions in BlackBerry, T-Mobile and Hertz Global Holdings. The hedge fund also more than doubled its stake in Nokia Corp.
But Third Point was no longer listed among Sony's top 10 shareholders. Found Daniel Loeb last year launched a campaign to force Sony to partially spin-off its entertainment unit, only to see the company refuse. In the aftermath, Loeb sounded conciliatory, noting that Sony "took our suggestions seriously and acted on them."
That might not have been enough to keep Third Point as an investor: Sony's own fourth-quarter filing does not list Third Point as having a stake of at least 0.96% at the end of last year. At the end of the third quarter, Third Point was listed as owning 1.64% of Sony shares, and claimed to own 7%.
It is not clear whether Third Point sold the shares, or whether it has registered them under a different name.
Third Point did announce that it had halved its stake in Yahoo! in the fourth quarter. Loeb was instrumental in having former Google Inc. executive Marissa Mayer installed as Yahoo!'s CEO, but the internet company has failed to turn its fortunes around.
Aug 25 2014 | 11:21am ET
As many of you know, FINalternatives was recently acquired by the owners of Futures magazine, a firm called The Alpha Pages LLC. Today marks the soft-launch of a new sister site for both publications. As its name suggests, The Alpha Pages will cover all types of alternative investments, going far beyond the more well-known ones such as hedge funds and private equity. Read more…
Commodities/Futures magazine launched at the precipice of a revolution in the futures industry—really a revolution in the idea of risk management—that would move it from a small niche industry to ...