Meet The Biggest Losers From Today's Community Health And Tenet Bloodbaths
Trader therapists everywhere are rejoicing at the bumper crop business CYH longs are about to provide them with. Because the almost 50% plunge in the stock earlier has certainly driven quite a few of the stock bulls to the edge. So just who are the biggest losers? Well, mutual funds of course. But who cares: slow money knows it is there to be raped by the ultra fast churners and packet stuffers on Wall Street so we will not shed many tears of them. On the other hand quite a few hedge funds not only are among the biggest holders of the stock but appear to have been adding quite aggressively. The biggest losers: TPG Axon with over $46 million in losses, Trilogy Capital with over $23 million and York Capital, down $20 million on the day. Alas, the latest attempt to do the old hedge fund gang up on the stock, in which all three hedge funds added massively in the Q4 2010 quarter appears to have been an abysmal failure and whoever presented CYH at whatever idea lunch or dinner was shared among these three funds is about to be black listed from the hedge fund community for a long time. Keep in mind these are stale numbers: the latest holdings update will not come until mid May when Q1 holdings numbers are released. We wouldn't be surprised to see today's totally traumatized troica to have added quite a bit more to their holdings.
And on the other side of the trade, the biggest losers are Shumway (good thing he is unwinding), SAC and... York. Very bad day for James Dinan so far.
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