Items Tagged with 'Hedge funds'


  • Shares of Fannie, Freddie soar as Wall Street bets on GSE privatization

    Common shares up 170%
    There’s been lots of noise lately that the end of Fannie Mae and Freddie Mac's conservatorship is looming, and the speculation is causing the GSEs' stocks to soar. The Wall Street Journal reports that common shares of Fannie and Freddie are up 170% as news hit that FHFA Acting Director Joseph Otting reportedly said he was weeks away from making an announcement.
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  • Investors in PennyMac gain larger stake

    Two hedge funds report beneficial ownership to the SEC
    A group of investors acquired enough of a stake in PennyMac Financial Services to prompt a series of new filings with the Securities and Exchange Commission.
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  • REIT stocks down in early trading

    Hedge funds looking close at S&P 500
    "The perception is that REITs will suffer in a rising interest rate environment," writes Seeking Alpha author Adam Aloisi. "With the Fed's taper finally taking effect this month, the visibility for an ultimate end to ZIRP is starting to gain traction, which has lead to a higher 10-year Treasury, and continued poor perception of REITs."
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  • Lippmann: Mortgages have a little further to run

    Hedge fund manager Greg Lippmann is still a fan of mortgages, though his interest has cooled somewhat going into 2014. Lippmann, the famed Wall Street trader who made his name better against subprime mortgages, told Reuters he still seems some room to run -- but not with the same upside seen in 2012 and this year.
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  • BB&T Posts Lower Profits After Repaying TARP Funds

    Branch Banking and Trust’s [stock BBT][/stock] Q209 profits were 50% lower than in Q208, after the bank became one of the first lenders allowed to repay the federal funds it received from the Troubled Asset Relief Program (TARP). BB&T reported profits of $208m, or $0.20 per share, down from $428m in Q208. The bank repurchased the preferred stock it sold to the Treasury Department for $3.134bn, and also made an additional $14m dividend payment.
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  • Kondaur to Snap up 28,000 Distressed Assets by Year's End

    Scratch and dent owner/servicer Kondaur Capital plans to jump its portfolio of distressed assets from 2,000 loans to nearly 30,000 by the end of the year, according to its CEO, John Daurio. According to Daurio, who plans to simultaneously increase his workforce from 300 to 1,000 to cope with the increased workload, Kondaur's business approach is unlikely to change.
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  • Bridgewater: We Won't Play in the PPIP

    The world's largest hedge fund manager, Bridgewater Associates, apparently won't participate in the Treasury's much-ballyhooed public-private investment program designed to clear "legacy" securities and loans off of troubled banks' balance sheets. The $71 billion money-management firm reversed course Thursday, after earlier indicating it had planned to participate, according to a report in the New York Post.
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  • TARP Capital Purchases Spike Since Last Week

    The U.S. Treasury Department purchased $1.45 billion in preferred stock from 19 banks and financial institutions in states across the country Friday. According to data released Monday by the Treasury, the weekly injections through the Capital Purchase Program (CPP) increased five-fold over the previous week's $284.7 million. The substantial increase in capital funds distributed was driven by a $1.22 billion stock purchase from Discover Financial Services [stock DFS][/stock].
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