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Jun 6, 2012

Pershing Square falls in May, up for 2012-source

BOSTON/NEW YORK, June 6 (Reuters) – William Ackman’s hedge
fund Pershing Square Capital Management lost 7 percent last
month but it is still up for the year, one person familiar with
the firm’s numbers said on Wednesday.

Ackman and other managers are currently telling investors
how they fared in May, when the broader stock market tumbled 6
percent. A spokeswoman for the New York-based Pershing Square
declined to comment on the numbers.

May 31, 2012

Singer fund Elliott steps up battle with BMC

NEW YORK (Reuters) – Elliott Management, a $20 billion activist hedge fund run by Paul Singer, has stepped up its assault on BMC Software Inc (BMC.O: Quote, Profile, Research, Stock Buzz), repeating calls for the company to sell itself and appoint new directors.

In a 36-page presentation filed with the Securities and Exchange Commission on Thursday, Elliott said the software company’s “execution over the past several years has been poor on numerous fronts, and its growth has been non-existent.”

May 31, 2012

Elliott steps up battle with BMC

NEW YORK, May 31 (Reuters) – Elliott Management, a $20
billion activist hedge fund run by Paul Singer, has stepped up
its assault on BMC Software Inc, repeating calls for the
company to sell itself and appoint new directors.

In a 36-page presentation filed with the Securities and
Exchange Commission on Thursday, Elliott said the software
company’s “execution over the past several years has been poor
on numerous fronts, and its growth has been non-existent.”

May 30, 2012

Greenlight’s Einhorn slams St. Joe again

NEW YORK (Reuters) – Greenlight Capital’s David Einhorn has heaped more criticism on Florida developer St. Joe Co (JOE.N: Quote, Profile, Research, Stock Buzz), saying the business model is flawed and the company still needs to take further write-downs on its unsold beachfront real estate.

In the May 29 quarterly letter, Einhorn said St Joe Co “continues to carry its mostly vacant commercial real estate at inflated values” and its “effort to develop its best land through a historic boom” has been “a cumulative money loser.”

May 28, 2012

Hedge funds find ways to trade euro misery

BOSTON/NEW YORK (Reuters) – Two decades ago, George Soros rose to fame and fortune on his now-historic trade in which he took on the Bank of England and shrewdly wagered on a devaluation of the British pound.

But it’s unlikely the current European monetary crisis and worries about Greece’s potential exit from the euro zone will give rise to an investing legend like Soros, who made $1 billion in 1992 by betting on a decline in the price of the pound.

May 28, 2012

Insight: U.S. hedge funds find ways to trade euro misery

BOSTON/NEW YORK (Reuters) – Two decades ago, George Soros rose to fame and fortune on his now-historic trade in which he took on the Bank of England and shrewdly wagered on a devaluation of the British pound.

But it’s unlikely the current European monetary crisis and worries about Greece’s potential exit from the euro zone will give rise to an investing legend like Soros, who made $1 billion in 1992 by betting on a decline in the price of the pound.

May 28, 2012

U.S. hedge funds find ways to trade euro misery

* European trade much more complex than Soros’ on pound

* U.S. hedge fund managers using many different strategies

* Greece turmoil causes some to pull back on bullish
positions

By Svea Herbst-Bayliss and Katya Wachtel

BOSTON/NEW YORK, May 28(Reuters) – Two decades ago, George
Soros rose to fame and fortune on his now-historic trade in
which he took on the Bank of England and shrewdly wagered on a
devaluation of the British pound.

But it’s unlikely the current European monetary crisis and
worries about Greece’s potential exit from the euro zone will
give rise to an investing legend like Soros, who made $1 billion
in 1992 by betting on a decline in the price of the pound.

May 16, 2012

Einhorn stock picks at conference fail to wow

NEW YORK (Reuters) – Investor David Einhorn built his reputation as a hedge fund industry superstar through targeted presentations that took on companies like Lehman Brothers, MBIA (MBI.N: Quote, Profile, Research, Stock Buzz) and Green Mountain Coffee Roasters (GMCR.O: Quote, Profile, Research, Stock Buzz).

But on Wednesday, Einhorn was more scattershot in a 15-minute talk at the annual Sohn Investment Conference, where he was one of most highly anticipated speakers.

May 16, 2012

Fund managers reveal “best ideas” at Ira Sohn event

NEW YORK (Reuters) – David Einhorn, who runs hedge fund Greenlight Capital, said at a popular investor conference on Wednesday that shares in Martin Marietta Materials are overvalued.

The stock immediately plummeted as much as 14.5 percent on the noted short-seller’s comments, an indication of his prowess to move markets.

May 15, 2012

No sign yet of Carl Icahn’s Chesapeake stake

NEW YORK (Reuters) – Carl Icahn, one of Wall Street’s most closely watched investors, has yet to show his hand on Chesapeake Energy Corp.

In a quarterly regulatory filing, Icahn’s investment firm did not disclose any position in the embattled natural gas company.

    • About Katya

      "Katya Wachtel is a hedge fund and big money reporter for Reuters. She hails from Melbourne. Australia, not Florida. You can contact her at katya.wachtel@thomsonreuters.com"
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