Saturday, 20 September 2014
Last updated 1 day ago
Nov 12 2007 | 11:14am ET
Hedge funds are not allowed to advertise, but that’s not stopping Sardar Biglari.
The head of San Antonio’s Lion Fund put up three billboards in Indianapolis, but don’t expect the Securities and Exchange Commission to slap him with a cease-and-desist order. The ads are part of Biglari’s very public campaign for the board of Steak n Shake, an Indianapolis steakhouse chain.
Biglari, who controls 7.3% of Steak n Shake, says he is annoyed with the company’s poor performance, and announced last month a proxy battle for a pair of spots on Steak n Shake’s board. And to that end, he’s taking a page out of the political campaign playbook: The billboards implore Steak n Shake shareholders to vote for Biglari and Lion Fund board member Philip Cooley in the proxy fight.
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…
Credit default swaps brought down the London Whale and cost JPMorgan $6.2 billion. Here is how it happened.