The Hedge Fund Report: Trading to a Major Quarter
The money is for a capital-guaranteed hedge fund product, a kind of hedge fund derivative. Investors can buy units in the form of bonds and get exposure to two of Man's hedge funds: a managed futures fund and a fund of funds. Man is an expert in this kind of deal, often called structured product notes, which are hybrids of fixed-income instruments and a hedge fund. The capital-guarantee feature offers principal protection as long as the notes are held until maturity. Investors can buy in different currencies targeting different regions.
Same to You
Lawsuits between hedge funds and companies are nothing new, particularly with all the activists floating around these days. Companies often sue when they suspect that hedge funds are acting as a group. When they are, they're required by the Securities and Exchange Commission to file 13Ds jointly -- but the rule has spotty compliance.
Managers, on the other hand, tend to sue companies when they feel that they are being blocked from winning board seats.
That's what happened with Santa Monica Partners, a Larchmont, N.Y.-based hedge fund, which filed a lawsuit against Warwick Valley Telephone Company (WWVY) last week. The suit seeks to prevent the company from employing a bylaw provision requiring 120 days' notice in order to nominate directors. The lawsuit contends that the company announced the resignation of two of its directors on March 24, failing to give the hedge fund enough notice to nominate its two candidates for the April 28 annual meeting. The company is countersuing.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV