The battle over Fannie Mae and Freddie Mac and the net worth sweep has dragged on for many years, but progress toward a resolution is finally being made. It looks like their conservatorship is another step closer to ending, although there is still a long road ahead. Q3 2019 hedge [...]
Steel City Capital was up 9.3% net for the third quarter, bringing its year-to-date return to 12.8% net. The fund's benchmark, the Russell 2000 Index, fell 2.3% in the third quarter and is up 14.1% year to date. Q3 2019 hedge fund letters, conferences and more MustangJoe / Pixabay Thesis for New [...]
Mohnish Pabrai sent his third-quarter letter to investors this week, and his funds were mostly down for the third quarter. Q3 2019 hedge fund letters, conferences and more (more…)
"Success in the market has to be won slowly, if it can be won at all, through creating a desirable value for customers." – Warren Buffett on business Q3 2019 hedge fund letters, conferences and more Warren Buffett is sometimes referred to as the "Oracle of Omaha" for his uncanny ability [...]
The Canyon Distressed Opportunity Funds II reported gains from a post-reorganization gaming company during the second quarter. In their second-quarter letter to investors dated Sept. 30, which was reviewed by ValueWalk, the Canyon Capital team said the company was their biggest positive contributor after announcing its sale to a [...]
Hedge funds started to send out their latest return sheets as the third quarter comes to a close. We've got the returns from several funds, including David Einhorn's Greenlight Capital, the BlueMountain Credit Alternative Fund, and Gates Capital Management. We've also got numbers from Carlson Capital's Black Diamond funds. 12019 [...]
The net worth sweep continues to be a hot topic for Fannie Mae and Freddie Mac. There seemed to be some light at the tunnel when signs suggested it would be eliminated, but now that an official "agreement" is in the books, nothing has actually changed. Bank analyst Dick [...]
The end of September is approaching rapidly, and we've gotten several return sheets from hedge funds over the last couple of weeks. For several funds, August was a bit bumpier than other months this year so far. Q2 hedge fund letters, conference, scoops etc kreatikar / Pixabay (more…)
The drama involving Fannie Mae and Freddie Mac continues to develop in what has been a fast-moving chain of events over the last couple of weeks. The news has generally been good as progress was finally being made on an issue that spans the last 10 years. However, a [...]
Gold prices continued to rally in August, driving strong performance in gold stocks, although that strength wasn't enough to pull Sturgeon Capital into the green for the month. The fund was down 3.09% for August, bringing its year-to-date returns to -5.1%. Difficult returns in Kazakhstan and Turkey weighed on [...]
The fight over the so-called "net worth sweep" has been impacting Fannie Mae and Freddie Mac for years, but it could soon be over. The federal government has finally started to move on getting the two government-sponsored enterprises out of conservatorship, and now there's a new development. Q2 hedge fund [...]
After a difficult month for the energy sector, the KKR backed BlackGold Opportunity Fund was down 1.3% for August, bringing its year-to-date return to 6.9%. The fund outperformed its benchmark, the Barclays HY Energy Index, which declined 2.5% in August and is up 3.4% for the first eight months [...]
Mangrove Partners was up 3.2% for August with most of the gains coming from its short book and some coming from "rate-of-return oriented investments." The fund had a gross exposure of 224% and a net exposure of 24% at the end of the month. Mangrove's Nathaniel August said in his [...]
There has been plenty of talk about Fannie Mae and Freddie Mac and the government's proposal to recapitalize them and release them from conservatorship. However, not everyone may be familiar with the history of these two government-sponsored enterprises (GSEs) and the issues that face them. Bank analyst Dick Bove [...]
Every so often, hedge funds with job openings include them in their letters to investors, and we're starting to keep track of these jobs and will post them as we see them. Free-Photos / Pixabay This week we have only one listing, which is from (more…)
It has been a whirlwind week for Fannie Mae, Freddie Mac and their shareholders. The Treasury Department released its plan last Friday, and then on Monday, a court ruled in favor of holders of the government-sponsored enterprises' preferred shares. Now Treasury Secretary Steven Mnuchin said in an interview on [...]
August was a much bumpier ride for hedge funds, based on the latest return sheet from Evanston Capital's Weatherlow Fund of Funds. The fund was flat for August, revealing just how many hedge funds held by Weatherlow struggled. Of the funds that did report positive returns, most of them [...]
Regal Funds Management's Atlantic Absolute Return Fund gained 0.7% in August for a solid return against most global indices, which declined during the month. The ASX 200 Accumulation Index declined 3%, while the Hang Seng Index fell 7%. The hedge fund is up 94% according to a recent letter [...]
We've reviewed hundreds of hedge fund letters over the last few months, but what we haven't done is given you all the tickers mentioned in all the letters in a single place—until now. We went through the letters we've received since late July and collected all the tickers that [...]
Both junior preferred and common shares of Fannie Mae and Freddie Mac tumbled on Friday after the Treasury Department released its proposals for getting both GSEs out of conservatorship. However, everything changed on Monday as investors cheered the court's ruling against the U.S. government and in favor of the [...]
Tech stocks have had more than their share of commentators in recent years. Many well-known value investors have said that Big Tech is wildly overvalued, while a few funds have argued that the sector is actually undervalued. Pat Dorsey of Dorsey Asset Management makes the case for looking beyond [...]
This year has brought a continuation of the steady upward trend we've seen the last few years, although the number of bearish indicators is starting to increase significantly. Horseman Global is positioned for a more bearish environment with a number of short positions, but so far, the market has [...]
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