3-F season is nigh, and it’s no surprise that everyone’s focused on the hedge funds that may have loaded up on the most talked-about financial stock these days—JP Morgan.
Since last week, shares of the bank have fallen over 10% after the company revealed a $2 billion loss related to a synthetic credit derivatives portfolio.
Here were some of the most notable funds that stocked up on JPM—
Paul Tudor Jones’ Tudor Investments bought up 1.2 million shares of [...]
From Matt Taibbi
A Christmas Message From America’s Rich
It seems America’s bankers are tired of all the abuse. They’ve decided to speak out.
True, they’re doing it from behind the ropeline, in front of friendly crowds at industry conferences and country clubs, meaning they don’t have to look the rest of America in the eye when they call us all imbeciles and complain that they shouldn’t have to apologize for being so successful.
But [...]
From Bloomberg:
Investors should consider buying shares of BlackBerry maker Research In Motion Ltd. (RIM), according to Laszlo Birinyi, who advised clients to buy equities before they bottomed in March 2009.
“It is a long shot, but it is an idea which no one has considered,” Birinyi, founder of Westport, Connecticut-based Birinyi Associates Inc., said in an interview today on Bloomberg Television’s “In The Loop” with Betty Liu. “They still have some [...]
December 5, 2011, 8:41 pm Hedge Funds | DealBook Column
It’s Tone, Not Taxes, a Tycoon Tells the President
By ANDREW ROSS SORKIN
Leon Cooperman, a 68-year-old Wall Street veteran, says he is for higher taxes on the wealthy. He would happily give up his Social Security checks. He voted for Al Gore in 2000. He says the special treatment of investment gains, or so-called carried interest, for private equity and hedge fund [...]
By Steve Eder and Brody Mullins
Gov. Chris Christie’s decision not to seek the Republican nomination for president is turning out to be quite the boon to Mitt Romney’s campaign coffers.
Late Wednesday, Mr. Romney won the support of uber GOP donor Paul Singer, who was considered to be one of the most sought-after undecided Republican fund-raisers. In the 2010 election season, Mr. Singer and his employees at Elliott [...]
via Forbes:
Do you have trouble getting good tax advice? Billionaire hedge fund manager Leon G. Cooperman says he has the very same problem.
Cooperman filed a U.S. Tax Court lawsuit last month after the Internal Revenue Service disallowed his deductions for $43 million in charitable contributions he made to his own family’s private foundation. In interviews with Forbes, Cooperman and his lawyer for the lawsuit said [...]
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