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Money managers under the microscope

Investing in Egypt after the revolution: A fund manager’s view

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Traders work at the Egyptian stock market in Cairo October 28, 2008. REUTERS/Amr Dalsh (EGYPT)

Traders work at the Egyptian stock market in Cairo October 28, 2008. REUTERS/Amr Dalsh (EGYPT)

It has been two weeks since Hosni Mubarak was removed from his 30-year rule in Egypt. Banks are open and many Egyptians have resumed their jobs, but the country’s stock market remains closed and investors are wary about region. Should they be?

Ahmed Fattouh, an Egyptian-American investor and chief executive of hedge fund and private equity firm Globalist Capital Management,  spoke to Reuters about his thoughts on investing in Egypt after political turmoil.  Fattouh, whose firm has offices in New York, London and Dubai, oversees about $300 million in assets and has been investing in the Middle East since 2005.  He visited Cairo and Tahrir Square in the past few weeks and shared his thoughts.

Q: Ahmed, where are the opportunities to invest in Egypt given all of the turmoil?

from Reuters Investigates:

The coming of Glencore

Checking background for our Special Report on Glencore, "The Biggest Company You Never Heard Of", I stumbled on the novel “The Fortunes of Glencore” by Charles Leveglencore acquisitionsr. On a whim I read it. There were some intriguing parallels between the 20th-century company and the book, even though that was published in 1857.

The further I read, the more I asked myself if this little heard-of scrap of 19th-century literature couldn’t be used as some kind of coda. It sounds crazy, but maybe you can understand the temptation. Glencore is a secretive, controversial Swiss-based commodities trading and mining giant, and even though it may soon be quoted on the London and Hong Kong stock exchanges, it works hard to maintain its mystique. Could this little novel be some kind of “Da Vinci Code” for Glencore?

What it looked like before it was over: Level Global and Shumway Capital 13-F analysis

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Portfoliographics Hedge funds Level Global Investors and Shumway Capital have recently announced plans to shut their doors and liquidate their portfolios by March 31.  Of course each fund is shutting for very different reasons: After its offices were raided last year, David Ganek’s $3 billion fund Level Global found the insider trading investigation too distracting, and Chris Shumway’s plan to transfer the chief investment role of his $9 billion fund to a colleague didn’t exactly work out. They do have something in common though.  Goldman Sachs’ Petershill fund, which takes stakes in hedge funds, was an equity investor in both funds and it is unclear what the value of those equity stakes will be at the end each fund’s liquidation.

If you have ever wondered what Rome was like before it fell, here’s your chance to see what Ganek and Shumway were trading at the end of last year. The charts below are based on Thomson Reuters’ analysis of their Dec. 31, 2010 13-F filings, which were filed with the U.S. Securities and Exchange Commission yesterday.  Their positions are probably insanely different right now, but it was nice while it lasted….

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