Both powerhouse investors made big bets on Verizon in the first quarter, but Loeb has since sold out of his position in the telecommunications company while Buffett has added nearly 4 million shares to his stake.
Spark Networks announced today its president and CEO Greg Liberman would step down after 10 years with the online dating company. The move comes one month after a hedge fund took control of the company.
Eminence Capital disclosed Monday it had taken a 9.6% stake in World Wrestling Entertainment. Eminence last year waged a successful activist campaign to merge Men’s Wearhouse and JoS. A. Bank.
A new database has tracked the biggest winners and losers in activist short-selling. Pershing Square’s Bill Ackman, despite Herbalife, is one of the best; David Einhorn of Greenlight Capital, isn’t.
The hedge fund titan’s Pershing Square Capital is set to conduct an IPO later this year, but industry insiders are worried Ackman is sabotaging its potential success with his increasingly bizarre public behavior.
Today, billionaire hedge fund manager Bill Ackman of Pershing Square Capital gave a three-and-a-half-hour presentation about Herbalife, the company he has a $1 billion short position in, and which he’s spent $50 million to date trying to take down. Things got…weird.
Entitled Wives, hidden assets, who gets the big house and other common themes in hedge fund divorces.
The American Federation of Teachers has used its pension funds to take on billionaire asset managers, the nation’s largest private student loan company and the world’s biggest education company.
Cannell Capital in April doubled its stake in Crumb Bake Shop to more than a million shares, despite nearly all signs pointing to the company’s ultimate demise. Earlier this week, the cupcake giant said it was closing all of its stores and going out of business.
Osmium Partners has successfully removed four members of the Spark Networks board after a contentious battle.
It doesn’t look as though Charney will be returning as the CEO of American Apparel any time soon, but he’s found a way to get some of what he wants.
The parent company of Olive Garden and Red Lobster missed analyst earnings estimates for the fourth quarter. Executives, who are facing shareholder opposition to the $2.1 billion sale of Red Lobster, called fiscal 2014 “a year of transformation.”
Darden says its sale last month of the seafood restaurant chain for $2.1 billion was full and fair. Activist investors say it was a scorched earth tactic meant to save the jobs of executives. A showdown is set for the company’s annual meeting later this year.
Mark Spitznagel, head of the $6 billion Universa Investments hedge fund, was forced by the city of Detroit to remove the 20 goats he had brought to graze in a blighted neighborhood. “The goats are gone.”
The Oracle of Omaha recently sent a letter to a San Francisco pension plan, advising the $20 billion fund not to invest in hedge funds. It’s the latest development in Buffett’s tenuous history with the hedge fund world.
Nelson Peltz’s giant hedge fund is currently holding a position that makes up 11% of the entire $5.8 billion fund’s portfolio, but has not had to reveal what the name of the stock is, even after the quarter’s filing deadline has passed. This isn’t the first time the SEC has allowed the fund, as well as other large managers, to withhold a major filing, and some smaller activist hedge funds are questioning the fairness of the practice.
A new report out today from Citi details findings that show hedge fund assets will swell to nearly $6 trillion in the next four years, doubling the size of the industry. At fees of 2% of assets and 20% of profits, members of the at-times controversial industry stand to make a lot of money.
The newly public AMC Entertainment was the favorite stock of hedge funds in the first quarter, and analysts say the company is on a tear, buoyed by projections of a better-than-expected summer blockbuster season.
Spruce Point Capital released a report today that details why iRobot, the company that makes the Roomba robotic vacuum, is a short target for them and other hedge funds.
Barington Capital announced its support of a shareholder vote to kill the “fire sale” of Red Lobster to the private equity firm Golden Gate Capital. “Blatant disregard for shareholder interest.”
Steve Wynn, of Wynn Resorts, was the lone bidder on the 7-foot tall statue at a Sotheby’s auction on Wednesday evening.
Speaking at the SALT 2014 Conference in Las Vegas, Appaloosa Management’s David Tepper served up more than a few opinions, platitudes, and general lessons on life.
Engaged Capital is betting that Medifast is the anti-Herbalife.
At least that’s the bet one hedge fund manager is making, shorting the home building sector on the belief that a “generational shift” is creating permanent renters.
Hedge fund manager Bill Ackman’s latest move has some praising him as a deal genius and others saying it is an example of everything wrong with corporate America, activist investing, and regulatory law.
Experts say that while activist investing campaigns can be great for shareholders, they often result in job losses, stagnating wages, and increased hours for employees. One such example can be seen in the impending integration of Jos. A. Bank into Men’s Wearhouse, a merger that resulted from a fiercely contested activist investing campaign.
BuzzFeed scored an invite to the 2014 Value Investing Congress in Las Vegas, where hedge fund managers from across the country and around the world come to divulge their favorite longs and shorts, and place a few other bets in the process. Here’s the scoop on what’s hot and what’s not.
Sometimes the billionaire activist pushed for a change that didn’t come, and companies fared better than if they’d heeded his advice, data shows. Most times, Carl Icahn made a lot of money.
Darden Restaurants reports earnings tomorrow, and another weak report could be enough to move shareholders to side with an activist hedge fund that is trying to stop the company from spinning off its chain of Red Lobster restaurants.
Hedge fund managers are increasingly tweeting their research and their sharp-edged attacks betting that a company’s stock will fall instead of rise, in a medium that was made for stirring up trouble.