Alternative Market Briefing

Investing – Israel Englander’s hedge fund cuts stake in Sunrise Senior Living to 3.5%, Weinstein says stocks attractive compared with overvalued credit, U.S. hedge funds capitalise on Lehman collapse, Comment: Do hedge funds like Facebook's IPO?

Monday, February 06, 2012

Israel Englander’s hedge fund cuts stake in Sunrise Senior Living to 3.5% From Citybizlist.com: Israel Englander's Millennium Management LLC has cut its stake in Sunrise Senior Living Inc. to 3.5 percent worth $16.20 million, according to an SEC filing.

The New York-based hedge fund said it owned 2 million shares in the McLean, Va.-based developer of senior living services, down from 2.21 million shares, representing a 3.83 percent stake worth $10.23 million last September. The stake's value is based on the stock's closing price of $8.10 per share on Feb. 3… Full article: Source

Weinstein says stocks attractive compared with overvalued credit From Bloomberg.com: Boaz Weinstein, who runs $5 billion hedge fund Saba Capital Management LP, said he is betting that stocks will rally and urged investors to buy protection on investment-grade corporate bonds because debt is overpriced. “Credit stands out as extreme overvalue to equities,” Weinstein said in a speech yesterday at the Harbor Investment Conference in New York. “Equities look attractive to credit.”

Weinstein, 38, whose New York-based long-short credit fund typically avoids large bets on the direction of an economy and profits from pricing irregularities between securities, said he is buying the ninth series of ......................

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