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Stanley Druckenmiller – “Bernanke Running The Most Inappropriate Monetary Policy In History” When three hedge fund titans all explain in words so simple a financial media channel morning show host can grasp that there is nothing behind this rally but smoke, mirrors, and a bearded academic, it seems more than a few people start to pay attention. Following Paul Singer and Kyle Bass [9], Stanley Druckenmiller “loves the market short-term, but hates it [...] Thought you might be interested in this exclusive just out from Bloomberg News: an in-depth look at Bermuda reinsurance companies recently set up by some of the biggest U.S. hedge fund managers, structured to protect gains on hedge-fund investments from U.S. taxes.
Paulson Leads Funds to Bermuda Tax Dodge Aiding Billionaires By Zachary R. Mider http://bloom.bg/WKKjuz
Last year, about $450 million belonging to top executives at billionaire hedge fund [...] by GoldCore Today’s AM fix was USD 1,741.00, EUR 1,347.00, and GBP 1,087.38 per ounce. Silver is trading at $33.80/oz, €26.32/oz and £21.23/oz. Platinum is trading at $1,605.00/oz, palladium at $652.25/oz and rhodium at $1,065/oz. Cross Currency Table – (Bloomberg) Gold and silver appear to be consolidating after their recent gains. Gold fell $7.10 or 0.41% in New York yesterday and closed [...]
We all know that nothing – and I mean nothing – jolts a stock higher than an unsolicited takeover offer. Prices jump 26%… 45%… even 67%, in a single day. Just ask shareholders of Motorola Mobility. When Google (Nasdaq: GOOG) announced it was acquiring the company in August 2011, shares rocketed 58% higher. The tricky part, of course, is successfully identifying takeover targets before a deal is announced. For conservative, income-oriented investors – [...] From Absolute Return + Alpha: A host of big name U.S. hedge fund managers looked across the pond July 18 at the second annual Delivering Alpha Conference, as many said they are positioned to profit handily from the European economic tumult and overblown fears of fiscal calamity. Some agreed on how to make money… Read full article… Ex-JPMorgan Trader Feldstein profited Harpooning London Whale Ex-JPMorgan banker Andrew Feldstein has emerged one of the biggest winners among hedge fund managers by betting against his former employer. Feldstein’s BlueMountain – which has returned 9.5% this year – has profited by exploiting price distortions created by the outsized bets of JPMorgan’s chief investment office. The company stands to make as much as $300 million, said market participants with knowledge of the trade.
Full [...] (Reuters) – The global financial crisis has barely started and is likely to last for at least another 15 to 20 years as major economies cut debt levels, according to Jamil Baz, one of Europe’s most prominent hedge fund managers. Baz, chief investment strategist at GLG Partners, told the GAIM 2012 conference in Monaco that total debt levels in a number of major economies had actually risen since 2007 and had [...] Sovereign Man Last week we reported that European hedge fund managers were liquidating their European assets to reduce exposure. Now it appears that the lend-happy Chinese will be doing the same. This looks really bad for Europe as a whole as investors are steering clear of its volatility. BBC reports: “China’s sovereign wealth fund, China Investment Corporation (CIC), has cut its European stock and bond investments on fears of a eurozone break-up. In an interview [...] via NYT: BOAZ WEINSTEIN didn’t know it, but he had just hooked the London Whale. It was last November, and Mr. Weinstein, a wunderkind of the New York hedge fund world, had spied something strange across the Atlantic. In an obscure corner of the financial markets, prices seemed out of whack. It didn’t make sense. Mr. Weinstein pounced. As the financial world now knows, what was out of whack was JPMorgan Chase & Company. [...] The situation in the euro zone has become so bleak that it is giving rise to the most improbable rumours. The latest to make the rounds of European hedge fund managers suggests that the euro will be tied to the dollar at close to parity, a dramatic fall from its current level of just under $1.30 and one that would involve the printing of hundreds of billions of euros. However unlikely, the speculation [...] The situation in the euro zone has become so bleak that it is giving rise to the most improbable rumours. The latest to make the rounds of European hedge fund managers suggests that the euro will be tied to the dollar at close to parity, a dramatic fall from its current level of just under $1.30 and one that would involve the printing of hundreds of billions of euros. However unlikely, [...] LAS VEGAS — A “global perfect storm” looms for 2013 in which the U.S. economy could fall back into recession and the euro zone will begin to break up, according to the latest gloomy forecast from economist Nouriel Roubini. Four primary factors will come together, according to the famed “Dr. Doom,” to create worldwide turbulence: In addition to the troubles in the U.S. and Europe, Roubini sees military conflict in Iran [...] Some of the world’s most prominent hedge fund managers are betting against the eurozone — and not just the peripheral countries everyone knows are in trouble. They’re taking positions against the core countries, economies that — until now — everyone has assumed were rock-solid. Here’s a primer on the world of hedge funds and why the latest developments in the recently resurgent eurozone crisis are yet another warning shot across America’s [...] —– Paul Singer, Dan Loeb and Cliff Asness — three hedge fund managers and major players in donor circles — each cut six-figure checks toward the landmark effort to legalize gay marriage in New York. Singer, the intensely-private head of Elliott Associates, has been especially active in donating to groups aimed at legalizing gay marriage in different states over the last five years, concurrent with his rise as one of the Republican [...] From Economic Policy Journal: It doesn’t always make sense to chase the stocks that are owned in the funds of billionaire hedge-fund managers, but with Ben Bernanke printing money like a mad man, more money is going to flow into stocks and into hedge funds and the top stocks held by these funds are likely to outperform. Meena Krishnamsetty brings us up to date on what the top five are: Hedge funds have [...] Fund manager John Paulson, one of the most successful hedge fund managers emerging from the most recent financial crisis, spoke at a meeting at the Metropolitan Club in New York, saying that “gold is the best hedge against currency debasement as countries inject money into their economies.” He also reportedly mentioned that in the case of a Euro currency failure, gold would benefit. In a letter to clients, this month, Paulson thought [...]
The clock is ticking for Greece, as a deal must be reached before March 20. Photo: EPA From Telegraph: Three months of negotiations ground to a halt on Friday night, amid a wave of downgrades by ratings agency Standard & Poor’s aimed at a clutch of European countries, including France. The unexpected breakdown in talks between Greece and its private-sector creditors has taken the country a step closer to bankruptcy after a failure to [...] 6 Shocking Revelations About Wall Street’s “Secret Government” Photo Credit: john flanigan We now have concrete evidence that Wall Street and Washington are running a secret government far removed from the democratic process. Through a freedom of information request by Bloomberg News, the public now has access to over 29,000 pages of Fed documents and 21,000 additional Fed transactions that were deliberately hidden, and for good reason. (See here and [...] 1) Italy sells bonds, yields jump to euro-era highs “Italy saw borrowing costs rise sharply as it sold a total of 7.5 billion euros ($10 billion) of a new three-year benchmark and other government bonds Tuesday. The Treasury sold 3.5 billion euros of three-year bonds, producing a euro-era record-high yield for a three-year of 7.89%, Reuters reported, up from 4.93% in a sale of three-year paper in October. A sale of September [...] By Thomas Schulz The Occupy Wall Street movement is just one example of the sudden outbreak of tension between America’s super-rich and the “other 99 percent.” Experts now say the US has entered a second Gilded Age, but one in which hedge fund managers have replaced oil barons — and are killing the American dream. At first, the outraged members of the Occupy Wall Street movement in New York were mainly met [...] So who is the “minority” that has been targeted by the 99%? Or is it really 99.999% as BusinessWeekanalyzes some of the finer nuances in what is now a full blow “poor vs rich” class war: “A better way of thinking about the Occupy Wall Street Movement, though, is to look at what happens at the very top, in the rareified upper reaches of hedge fund land. In his investigation of investment [...] By www.thetrader.se Ft.com Citic Securities, China’s biggest brokerage by market value, declined in its Hong Kong trading debut, [...] In less than one hour on Tuesday, the U.S. stock market surged by 4 percent — for no apparent reason. The last hour of trading was the most volatile final hour in two months — and it occurred at a speed that frightens many, from experienced hedge-fund managers to mom-and-pop investors. (Excerpt) Read more at news.yahoo.com … The mainstream media was thrown into a tailspin after an independent trader revealed how the world of big money and politics looks from the inside. But why were Alessio Rastani’s revelations come as such a surprise? “The government doesn’t rule the world. Goldman Sachs rules the world,” stock trader Alessio Rastani said on the BBC. This was the comment which echoed around the world, generating a tidal wave of reaction from [...] Telegraph.co.uk Microsoft founder Bill Gates Photo: Reuters The “Richest People in America” list saw Berkshire Hathaway boss Warren Buffet ($39bn) placed second and Oracle chief Larry Ellison a close third ($33bn). Despite his reputation as a canny investor, Mr Buffett was the only one person in the top 20 to suffer a loss, see his fortune fall $6bn on last year. The combined wealth of all [...] |
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Top New York Labor Leader Moves To Long Island, Saves $30,000 in City Income Taxes
One of America’s most powerful labor leaders, teachers union president Randi Weingarten, has quietly moved out of New York City, a decision that saved her from paying more than $30,000 in city income taxes that she would have owed if she had stayed.
Discussion of people fleeing New York City in part because of high income tax rates has mostly focused on high-powered conservative commentators and billionaire hedge-fund managers. Glenn Beck [...]