Toby Cooperman ?

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A new lawsuit against Kozeny

The businessman of Czech origin, founder of the famous Harvard Funds as part of voucher privatization in the Czech Republic, Viktor Kozeny, done since Friday, the object of a second lawsuit because of the investment without success in the voucher privatization in Azerbaijan, one reads in the delivery of the New York Times on Tuesday. The complaint was filed in London by Leon G. Cooperman, chairman of Omega Investment Fund, who sees himself defrauded of $ 126 million invested with Kozeny.

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Tyco, a symbolic target operation speculation

The frontal attack mounted by the hedge fund (hedge fund) Omega Advisors against the U.S. industrial conglomerate Tyco International, specializes in electronics, health and safety facilities, is symptomatic of a certain evolution of capitalism. Tyco? A box, in the wake of setbacks that led to the brink of bankruptcy, was able to complete a spectacular turnaround and triple its market value - and thereby stimulate the appetite, especially as its expected performance disappointed: the bottom line profitability requirements of hell "investors"! This is where Omega Advisors. It was nice to hold only 0.3% of Tyco shares, he is going through an alliance with the pension funds (also from Tyco shareholders), to pull it off, namely Tyco require a sizeable (6 billion) of shares, ie, in good French, watering the "investors", Omega, pension funds, all those speculators who have no concern for consequences that the operation could have industrial activities of their "target". They are there to make money, full stop. This is symptomatic for where ordinary people think of corporate CEOs see take the helm, there is, in fact, often as pure speculative effects. And symptomatic, yet, as noted in the newspaper reporting on these facts, because this type of operation, hitherto confined to the United States to the fast food sector and the media, is now spreading to the industrial sphere: a movement which aims "to pump the stock shares for short-term gains at the expense of long-term growth."

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The chairman of Omega Advisors Michael Seinhardt answered, following his statements last week on CNBC

The attack made last week by President Warren Buffet Wisdom Tree Investments, Michael Seinhardt was "inappropriate and does not understand what is really important," said today the chairman of Omega Advisors, Leon Cooperman on the American television network CNBC .

Seinhardt branded the chairman of Berkshire Hathaway "the most important person in public relations in recent times" to make himself look like a great philanthropist when, in fact, is expected to be seventy-something to donate most of his fortune the foundation of Bill and Melinda Gates.

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"I have enormous respect for what Warren has achieved. It is an investment genius "said Cooperman. Former non-executive partner of Goldman Sachs has said that Buffett has always focused more on "making money than giving it away" and wanted his wealth grow through compound interest before moving on to the Gates Foundation.

Another area where you disagree with Steinhardt has been in the size of hedge funds performance. Steinhardt where hedge funds saw sacrificing performance to the accumulation of assets under management and fee collection; Cooperman sees the size as an anchor for the performance. "

"I do not know of any hedge fund that uses a weapon or a mask to attract customers. Customers are not stupid. If they did not receive what they want, not invest in hedge funds. " Cooperman also said that "we have to remain optimistic" about the stock market as the economy recovers, but "we must walk warily over his optimism."

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Flee shares and take refuge in gold of the world's largest investors

The new gold fever raging in the London Bullion Market seems to imply that the great financiers, investment banks, hedge funds and speculators, as George Soros, John Paulson and Eric Mindich, have spent a part of its investments in yellow metal, anticipating new large-scale turbulence in stock markets and currency.

"Gold, a traditional safe haven in times of uncertainty, is concentrating capital are risk averse," said James Moore, analyst at The Bullion Desk.

The clearest evidence of this trend were noted when Soros had significantly reduced its positions in dozens of major North American groups, such as Verizon Communications, Pfizer, energy companies Suncor Energy and Hess Corp, JPMorgan Chase Bank and Wal-large Mart Stores, for a total of U.S. $ 8,800 million that Wall Street had in the second quarter, keeping only U.S. $ 3,700 million. At the same time he sold at U.S. $ 638 million to 5.8 million non-voting shares and 9.1 million ordinary shares it held in Petrobras through Soros Fund Management LLC. Also purged of its portfolio of all securities of private bank Bradesco and the brewer Companhia de Bebidas das Americas (AmBev) for a total of $ 561 million. All these operations were confirmed by the economic and financial agency Dow Jones, a subsidiary of the Wall Street Journal.

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Part of this capital was invested in gold now owns 5.24 million shares worth $ 638 million in SPDR Gold Trust, a hedge fund specializing in gold. This investment is the main asset of the fund Soros.

In parallel, Eton Park Capital Management LP invested $ 800 million to buy 6.5 million shares SPDR Gold Shares. Eton founder Eric Mindich, a former Goldman Sachs executive who in 2004 set up his hedge fund. In addition to their positions in GLD, Mindich increased its interest in five mining companies.

The largest investor of Eton Park Capital, with 31.5 million shares, is Paulson & Co. The financier John Paulson, one of the men who made more money with the subprime crisis, created the fund in 2009 with an initial capital U.S. $ 3,500 million. Like Soros, in recent months, also invested in seven mining companies in anticipation of a likely gold rush. His nose, once again, did not betray him: since 1 January 2009, won 47.3 percent gold. Last Friday marked a record trading at U.S. $ 1281.50 and experts predict a new leap in the coming days.

Seen from a longer perspective, no other investment resists comparison with the spectacular rise of gold in the last decade since he started climbing in mid-2001, the ounce price quintupled.

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Analysts at CIBC World Markets forecast an increase of 13% to 16% for the period runs until the end of the year.

Gold mines are attractive to investors. Besides the three large speculators, hedge fund Omega Advisors, Balyasny and Greenlight Capital, and three investment banks, Morgan Stanley, Goldman Sachs and Bank of America, also began to hoard gold production values.

This shift to a traditional shelter-value results, experts said, a reflection of protection against the risk of stock collapse and a new monetary storm caused by the uncertainties of the weak economic recovery in the U.S. and Germany decoupling the rest of Europe. This combination of factors drive a wedge which could be filtered by speculators.

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