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$6 Billion Activist Fund Relational Liquidating: Here Are Its Top Holdings
Lately it seems that not a day goes by without some big or not so big fund manager realizing they have had it with Bernanke/Yellen's legacy farce of a market, and exiting stage left, doing so either in bombastic style, a la Bill Gross, or in a more subdued fashion, in the vein of Stanley Druckenmiller, or sometimes in part (or in whole) liquidating without telling anyone, like what BlueCrest is rumored to have done last week.
So not surprisingly, today brings the latest hedge fund unwind, with the WSJ reporting that $6 billion veteran acitivst hedge fund Relational Investors LLC, plans to wind down its operations and dissolve its current funds by the end of next year, according to people familiar with the matter. The reason? The same reason why Jamie Dimon himseld is about to quit the financial industry any second: the firm's co-founder and public face, Ralph Whitworth, has throat cancer and while he said he was taking a leave of absence in July, he appears to have changed his mind and made it permanent.
From the WSJ:
Plans remain fluid and the ultimate status of funds and positions in them will be sorted out over the next year or so, the people said.
The firm's executives expect eventually to launch a new fund with the same name, though founders Mr. Whitworth and David Batchelder will cede day-to-day control, the people said.
Shortly thereafter, Relational said no new investments would be made, citing Mr. Whitworth's indefinite medical leave. The firm said it would continue to manage the current portfolio with Mr. Batchelder at the helm.
But the question on everyone's mind is what happens tomorrow, and thus today, as everyone discounts the upcoming liquidations of the fund's largest positions, which are Hewlett Packard, SPX and Mondelez, and where Relational is a 10% holder in GBNK, MHR, SPW and PMCS.
So here is a partial list of everyone else that is about to be dumped en masse as Relational is merely the latest fund to liquidate.
It won't be the last, and in this CYNK&P market, in which one seller is all it takes to start an avalanche, the Fed better be taking notes.
Source: BBG
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MARGIN CALL
And there is no app for that.
No, sir
So Pimpco is liquidating, Bluecrest liquidating, this activist fund is liquidating....I think there are definitely some commodity and energy funds liquidating also.....this will be all over the news in the next week or so....
Margin Call, And there is no app for that.
There are nail guns for that though.....
Its a damn shame that, for all their wealth, these people still can't pay away their cancer. Perhaps Google Ventures will soon unveil their 'brain swap with a cultured human being' product.
In this case, might it be that "throat cancer" = "cashing in all my chips while I'm still winning big"?
Isn't there something the Fed could do in the way of monetary policy to address the problem? Perhaps an extended period of ZIRP, or maybe a targeted QE?
doesn't say what their LEVVERAGE is
they're probably LEVVERED 3:1 at least
nobody knew MFGlobal's leverage either, or lehman, or bear stearns, or Aig
Nobody knows anything, until the call is made
The FEd is the ultimate margin caller.
So many are overleveraged right now, today's 250 point drop can clobber them. Amazing how it got to this extreme.
Elsewhere: 'racist' cartoon provides another distraction from real news http://tinyurl.com/oky46gj
"Smart" money Just like Hussein Obama is a "smart" guy
where are the customers' yachts?
LOL - Never gets old.
HP and Whole Foods?
Yikes.
So you attribute an iota of veracity to the Diemon throat cancer tale?
The party is not Gona make it until the 2016 elections. Takes time to disengage
good one - not Gono make it
Does anyone know how Jamie is doing? He should be done with his chemotherapy. Come on, Jamie, we need you (to hang on a lamp post)!
Funny, one of my little day dreams was Jamie Dimon climbing out of his limo on a Wednesday morning to enter his building, when all of the sudden a couple of those feathered guys from ROAD WARRIOR buzz past and launch a shit-tipped arrow into Jamie's throat. Ahhh, how life immitates art -- to a point.
you know, just looking up some info on the fund.. I think HP will survive...
http://www.insidermonkey.com/hedge-fund/relational+investors/161/
Look over at billionaire hedge funds...
8 of the top 10 are headed by Jews {Paulson is half}
I'm sorry, was noting this example o massive over-representation "anti-Semitic?"
lol.
Can you imagine - if ever a meticulous study of Jewish/Zionist power in banking/finance/media/government was done, just how pervasive and complete and amazing the power of this tiny minority would come to be seen, finally, as?
I guess that is why so much effort goes into hiding Jewish power and actually convincing people that discussing that power is anti-semitic "hate" even as liberal Jews at shitty colleges all over the world discuss "white privilege"
Cute.
Hmmmmmm...
maybe, just maybe they answer to his assholiness in vatican city.
Funny how the ass of that chick in the white bikini in the travel dating ad is always on a level with the crux statement of the article it's next to.
you noticed too?
I miss the naked bra girl...hahaha
Margin call,
Sold you in the morning with another crash by the fed,
200 west is probably already short in these stocks to "help" their clients...
very funny...and very true!
Throat cancer is now often caused by HPV, the same virus that causes cervical cancer. It is transmitted by oral sex; it is a STD. I wonder if this guy has the same strain of the virus causing his cancer, as Dimon as. They could check; that can be determined pretty easily. We could know with some certainty if they got it from the same source. Maybe a lot of high level guys in the financial industry, are, um, in contact with the same, um, source.
Coke and hookers, Bitchez!
Sluuuuurp!
Ahhhhhh.
Snoooooort......Sluuuuurp.
Ahhhhhh.
God's payback is a bitch. All the incredible lying these greedy ratfuckers have done all their lives ... serves them right.
Amen
If Atlantic magazine called Helicopter Ben "The Hero", makes you wonder who the fuck they chose as "The Greatest Living Novelist". WB VII, you're determined to get me to wear Depends. Too funny, that little scroll.
C'mon...no way a little tiny $6B fund could cause a problem....impossible...uh huh.
Who BUYS their sells??
They all know fed is only going to pump the economy by buying stocks until election day. The day after the party will end and merkets will plumet and large sales of stocks will be imposible.