But if I knew how to manage my portfolio safer and smarter than most hedge fund managers, I could realistically grow my wealth.
Moore Capital lowers its position in Citigroup
Operating expenses were $12.4 billion in 3Q14. This was 6% higher than $11.7 billion in the same period last year. The increase was a result of higher legal and related expenses
Hertz’s annual filing said revenues grew at a compound annual growth rate of 6.9% over the last 20 years. It’s enjoyed year-over-year growth in 17 of those 20 years.
JPMorgan’s latest 2Q14 results beat estimates. Meanwhile, net income was down to $6 billion from $6.5 billion in 2Q13. The earnings per share (or EPS) was $1.46, compared to $1.60 in 2Q13.
Carl Icahn said that Apple’s stock is dramatically undervalued and is actually trading at half of its intrinsic value. He believes that Apple’s (AAPL) stock should be trading at around $203, much higher than the current stock price of $98.
Baidu is the most-used Internet search provider in China. It captured 81.6% of Internet search traffic in China in 2013, according to market research firm iResearch Consulting Group. Baidu’s often referred to as China’s Google.
P&G reported first quarter fiscal year 2015 core earnings per share of $1.07, an increase of 2% compared to the previous year. Net sales were unchanged compared to a year ago, at $20.8 billion.
Moore Capital, LLC is a family investment office focused on the Southeastern United States. It makes long-term investments in public and private companies as well as real estate.
Agriculture ETFs gained popularity in the first quarter and the beginning of the second quarter. Harsh weather conditions lifted prices for commodities.
DXJ tracks the performance of the WisdomTree Japan Hedged Equity Index. The Index and the fund are designed to provide exposure to equity securities in Japan.
GLD accounted for 2.87% of the hedge funds’ portfolio in 2Q14. GLD tracks gold bullion’s spot price. With an expense ratio of 0.40%, the fund has a five-year return of 14.05%.
EEM has exposure to large and mid-sized companies in EMs. It has easy access to 800+ EM stocks. The fund tracks the investment results of the MSCI Emerging Markets Index.
ETFs owned by hedge funds were valued at $36.9 billion at the start of 3Q14. This was an increase of 12.1% from $33.8 billion in the earlier quarter.
Third Point said it generated around a 20% return on its investment in Sony despite enduring profit warnings, falling sales at the consumer electronics business, and the sluggish pace of Japanese macroeconomic reforms.
Third Point noted in its letter that Alibaba can “generate long-term value in its core markets and compete in new ones, making it a compelling potential multi-year investment.”
Third Point added, “when we break down the applicability of Apple Pay to PayPal’s business mix, we find that Apply Pay will compete directly with only 1.5 to 2% of PayPal’s total payment volume (or TPV).”
Third Point said despite various challenges, eBay had “arrived at a critical inflection point and gained new focus.” It added that it has been “pleased” with eBay’s decision to split into two by spinning off its PayPal unit.
The analyst referred to data showing that since the start of 2012, Amgen’s shares rose 78%. In comparison, the NASDAQ Biotechnology Index rose 128%.
Faced with expiring patents and increasing competition for its blockbuster drugs, Amgen acquired Onyx to benefit from the latter’s innovative oncology portfolio and pipeline.
Third Point noted that Amgen needs to improve on its R&D evaluation process. The fund said the company has spent more on its late-stage pipeline assets than its biotech peers, but that the output has been “sparse” when compared to the investment.
The principal products represented 92% of Amgen’s worldwide product sales for the first half of 2014. Total product sales in 3Q14 rose 4% year-over-year, mainly driven by Kyprolis, Prolia, Neulasta, and Xgeva.