BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Atticus to cut two of three hedge funds]]>http://www.bloggingstocks.com/2009/08/12/atticus-to-cut-two-of-three-hedge-funds/http://www.bloggingstocks.com/2009/08/12/atticus-to-cut-two-of-three-hedge-funds/http://www.bloggingstocks.com/2009/08/12/atticus-to-cut-two-of-three-hedge-funds/#commentsFiled under: ,

What began as a $6 million endeavor in 1996 is coming to a (partial) close. Atticus Capital is shuttering two of its three hedge funds and is returning $3 billion to shareholders. The move is strictly a personal one, according to CEO Timothy Barakett in a letter to investors. Atticus is slicing its flagship fund and a smaller one, but is keeping its European Fund, which has $1.2 billion under management.

Prevailing market conditions led Barakett to begin liquidating many of the Atticus Global portfolio's holdings, an effort he expects to be complete by the end of September. Investors can expect to receive around 95% of their money in early October, with the rest being disbursed after the fund's final audit later in the year.

Continue reading Atticus to cut two of three hedge funds

Atticus to cut two of three hedge funds originally appeared on BloggingStocks on Wed, 12 Aug 2009 09:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>atticusatticus capitalAtticusCapitalBarakettfinancial crisishedge fundhedge fund managershedge fundsHedgeFundHedgeFundManagersHedgeFundsinthenewsphilanthropyrecessionWed, 12 Aug 2009 09:00:00 EST<![CDATA[Option update: US Steel's (X) volatility up on Atticus Capital rumors]]>http://www.bloggingstocks.com/2007/08/09/option-update-us-steels-x-volatility-up-on-atticus-capital-r/http://www.bloggingstocks.com/2007/08/09/option-update-us-steels-x-volatility-up-on-atticus-capital-r/http://www.bloggingstocks.com/2007/08/09/option-update-us-steels-x-volatility-up-on-atticus-capital-r/#commentsFiled under: , ,

US Steel (NYSE: X) volatility Up on unconfirmed chatter that Atticus is building stake. X is recently down $3.18 to $89.49. Unconfirmed chatter is circulating that Atticus Capital has acquired a 10% stake in X. X September option implied volatility of 45 is above its 26-week average of 38 according to Track Data, suggesting larger price fluctuations.

TiVo (NASDAQ: TIVO) calls active as TIVO trades near 10-month high. TIVO, a digital video recorder provider, is recently up 64 cents to $7.01. TIVO has a market cap of $682 million. TIVO September 7.5 calls have traded 25 times on transaction volume of 1,300 contracts above its open interest of 435 contracts. TIVO September option implied volatility of 57 is near its 26-week average according to Track Data, suggesting non-directional risk.

Brinker (NYSE: EAT) volatility up; EAT talking to investors about selling Macaroni Grill. EAT operates restaurant concepts including; Chili's, Macaroni Grill, Maggiono's & On the Border. Goldman Sachs says "EAT reported 4Q operating EPS of $0.57, ahead of our $0.47 estimate. The overage came largely from a lower tax rate, share count, and modest expense variance." Dow Jones reported EAT "is talking with a 'number of investors' about the possible sale of its Romano's Macaroni Grill chain." EAT September option implied volatility of 33 is above its 26-week average of 29 according to Track Data, suggesting larger risk.

Daily options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.

Option update: US Steel's (X) volatility up on Atticus Capital rumors originally appeared on BloggingStocks on Thu, 09 Aug 2007 13:15:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>Atticus CapitalAtticusCapitaldigitaldigital video recorderDigitalVideoRecorderEATEPSGoldman SachsGoldmanSachsMacaroni GrillMacaroniGrillMaggiono'smarket capMarketCapOn the Border.OnTheBorder.option implied volatilityOptionImpliedVolatilityrestaurant conceptsRestaurantConceptsSteeltax rateTaxRatetransactionUS SteelUsSteelXThu, 09 Aug 2007 13:15:00 EST<![CDATA[Piggyback Investing: Atticus Capital]]>http://www.bloggingstocks.com/2007/07/23/piggyback-investing-atticus-capital/http://www.bloggingstocks.com/2007/07/23/piggyback-investing-atticus-capital/http://www.bloggingstocks.com/2007/07/23/piggyback-investing-atticus-capital/#commentsFiled under: , , , , , ,

While Atticus Capital isn't a household name for most people, the hedge fund's ability to find undervalued and mismanaged names is undeniable. The $13 billion fund run by Timothy Barakett performed extraordinarily last year, booking net gains of 45% in 2005 and, according to a variety of sources, more than 30% net for 2006. The firm's strategical focus on concentrated bets has clearly been paying off.

As I discussed in my "Introduction to Piggyback Investing" post, the focus on these columns will be to analyze positions held in a smart money fund via its 13F-HR filing and other sources. According to the fund's 13F-HR, Atticus Capital's fund has several interesting "core" ideas, as well as an interesting sector bet developing.

One large position in the fund is Eagle Materials (NYSE: EXP), a seller of gypsum wallboard and cement. Eagle Materials is certainly an interesting stock, but it's also very cyclical. With a clean balance sheet and an EV/EBITDA multiple of less than 7, the stock could potentially be undervalued at these levels. However, I'd choose to buy USG (NYSE: USG) over Eagle Materials because SHEETROCK is a very powerful brand and the stock appears cheaper than EXP (cheaper on pretty much every multiple, e.g 5.7 EBITDA vs. 7x EBITDA for EXP). Throw in the Buffett/Tilson/Fairholme/Weitz/Berkowitz/Whitman/Janus Contrarian ownership factor, and I think USG is remarkably attractive.

Continue reading Piggyback Investing: Atticus Capital

Piggyback Investing: Atticus Capital originally appeared on BloggingStocks on Mon, 23 Jul 2007 18:15:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>AtticusAtticus CapitalinthenewsPiggyback investingMon, 23 Jul 2007 18:15:00 EST<![CDATA[Atticus Capital: Hedge fund betting on grand slams]]>http://www.bloggingstocks.com/2007/05/15/atticus-capital-hedge-fund-betting-on-grand-slams/http://www.bloggingstocks.com/2007/05/15/atticus-capital-hedge-fund-betting-on-grand-slams/http://www.bloggingstocks.com/2007/05/15/atticus-capital-hedge-fund-betting-on-grand-slams/#commentsFiled under: ,

If you look at the venture capital business, it's about getting grand slam investments. After all, Sequoia's investment in Google (NASDAQ: GOOG) made up for every dog and then some.

The VC approach sometimes applies to hedge funds. And this is certainly the case with Atticus Capital's brash leader, Tim Barakett. In fact, he recently got a write up in the Wall Street Journal [a paid service].

First of all, he likes to play IPOs. Hey, isn't that where there is big-time volatility?

But Barakett combines that approach with a strong focus on fundamentals, preferring industry leaders with strong balance sheets.

Maybe that's why Atticus has 20% of its money in rail stocks, an area that has attracted another great investor, Berkshire Hathaway's (NYSE: BRK.A) Warren Buffett.

The returns for Atticus? They are stunning. Last year, its main fund was up 40% (even after deducting for his juicy fees).

Yet, if history is any indication, even the great hedge funds managers - like George Soros - run into problems. But so far, Barakett still has the Midas Touch.

Tom Taulli is the author of various books, including the Complete M&A Handbook and the EDGAR-Online Guide to Decoding Financial Statements.

Atticus Capital: Hedge fund betting on grand slams originally appeared on BloggingStocks on Tue, 15 May 2007 11:52:00 EST. Please see our terms for use of feeds.

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