Tuesday, 21 October 2014
Last updated 14 min ago
Aug 27 2014 | 7:17am ET
Pershing Square Capital Management’s winning streak continued this week, and has the hedge fund up about 30% on the year.
The New York-based hedge fund, up 27.2% through July, added to those gains with the news that Burger King Worldwide would buy Canadian doughnut chain Tim Hortons in a tax-inversion deal. BK shares soared, earning Pershing Square in excess of $200 million.
Pershing Square engineered Burger King’s return to the public markets in 2012 through a reverse-merger with its Justice Holdings blank-check company. The hedge fund owns a nearly 11% stake in BK.
Other winners for Pershing Square this year have been Allergan Inc., Fannie Mae, Freddie Mac and Herbalife Inc.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
Sep 30 2014 | 9:29am ET
The crisp Autumnal days of October are upon us, and so are a few of the hedge fund industry’s favorite charitable events. If you have never been to Rocktoberfest, well, you are missing out. And for a quieter evening of sipping and socializing, stop by HFC’s Wine Soiree. Read more…
Most traders agree that proper risk management is the key to successful trading. However, many traders depend on the deeply flawed measure of standard deviation as a benchmark of risk. Here we put it ...