Billionaire investor Carl Icahn on Friday, in an emotional Tweet, asked the Atlantic City’s largest casino workers union to help save the Taj Mahal. The tweet linked to a message on Icahn’s website that said: NOW IS NOT THE TIME TO FIGHT. NOW IS THE TIME TO STOP AND ASK, WHAT CAN I DO TO […]
Dominique Strauss-Kahn’s Business Partner Jumps To His Death
The partner of the disgraced former chief of the International Monetary Fund Dominique Strauss-Kahn, Thierry Leyne was found dead on Thursday in Tel Aviv. It was apparently a suicide. Thierry Leyne,48, a French Israeli banker, jumped off the 23 floor of a prestigious residential complex, Yoo Towers in Tel Aviv. Dominique Strauss-Kahn and Thierry Leyne […]
Hedge funders shake legs for charity at ‘Rocktoberfest’
For once Hedge Fund investors in the financial sector kept away from their market terminals and BlackBerry’s and donned sunglasses and strummed guitars on Wednesday night in New York,all for a good cause. It was Dubbed “Hedge Fund Rocktoberfest,” the 11th annual version of the charity event which raised about $400,000 for A Leg To […]
Natural Gas Drops as Placid Weather Lowers Heating Needs
For the third time in four days natural gas futures dropped in New York amid speculation that a mild temperature will reduce the heating needs as the production increases. According to Commodity Weather Group LLC, the temperatures will be steady and above normal for the next five days in most of the 48 states before […]
Oil Speculators Bet Wrong as Rebound Is Short Lived
Hedge funds were seen moving towards oil too quickly and boosted bullish trends amidst a rebound last week. However the moments of glory were short lived and ever increasing US Crude supplies pushed the prices to a two year low. Net-long positions in West Texas Intermediate futures gained 5.7 percent in the 7 days ending […]
Hedge Funds Rein In Coffee Bull Bets as Brazil Drought Eases
It has been dubbed as the biggest bullish coffee bet since 208. Rain brought much needed relief to the world’s largest producer and exporter of Coffee-Brazil. For the first time in four weeks fund managers slashed their net long position in Arabica Coffee. New York futures tumbled 9.1% last week, the greatest since May. […]
Birinyi Predicts S&P 500 at Record with Bullish Sentiments Intact
The pace at which the US stocks recovered from the largest selloff in 3 years has added confidence to Laszlo Birinyi and his forecast for the Standard & Poor’s 500 Index to reach 2,100 by year-end. The benchmark jumped 5.5 % during the course of 8 days through October 24th. It recovered 70% of its […]
U.S. Banks See Worst Outflow of Money in ETF Since 2009
Investors have withdrawn $913.4 million from the $17.5 billion ETF. ETF’s top holding includes JPMorgan Chase & Co. (JPM), Berkshire Hathaway Inc. and Wells Fargo & Co. It is a shift that has turned the flow of money towards the negative for the year. According to latest exchange data compiled by Bloomberg143 million shares of […]
Detroit Pension Debt Holders Finally End Objection to Plan
The biggest U.S. municipality to file for bankruptcy started its last push to end the court battles with Detroit’s pension debt holders dropping their objection to the city’s $7 billion debt cutting plan. Hedge fund managers Aurelius Capital Management LP and Blue Mountain Capital Management LLC along with investors who hold the debt were waiting […]