NFLX is up 75% year to date so you probably assumed that Whitney Tilson had gotten rid of it sometime last year. You were not alone: Continue reading »
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Hedge Funds
Whitney Tilson Was As Surprised As You Are To Learn That He Was Long Netflix On The Way Up
By Matt Levine
Apparently Gary Foster “used his knowledge of bank operations” to get the job done. Continue reading »
On February 11th Goldman issued four warrants tied to Japan’s Nikkei index which were described in three separate filings amounting to several hundred pages. Buried in the instructions to determine the settlement price was a formula that read “(Closing Level – Strike Level) x Index Currency Amount x Exchange Rate”. It is Goldman’s contention that rather than multiplying the currency amount by the exchange rate, it should have divided by the exchange rate. Oops. [Economist via BI]
Kevin Connors, co-head of global G10 FX sales, is “leaving” the bank following “a breach of internal compliance procedures.” [Bloomberg]
New Year’s Resolution For S&P To Consider: Properly Rate A Security For The First Time
By Bess LevinJust one, not all. Start small. Continue reading »
Last week, we reported that UBS had been kicked off the General Motors IPO as a result of a senior high-yield analyst sending out a note to a bunch of clients that included his musings on the valuation ahead of the IPO. In a filing today, GM confirms our story. Continue reading »
JPMorgan Chase last night alerted attorneys that employees in its foreclosure operations unit may have signed affidavits without personally reviewing the documents, the same issue that has recently plagued GMAC Mortgage, according to a memo obtained by HousingWire…Chase is requesting that the courts not enter judgments on pending foreclosure cases until it completes the review in the next few weeks. [HW via BI]
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