NEW YORK (Reuters) - Whitney Tilson, the outspoken founder of hedge fund T2 Partners LLC, is girding for a deeper mortgage market meltdown after being singed in his first foray into the credit crisis' most toxic of securities - subprime bonds. Mr. Tilson and partner Glenn Tongue have halted their move into the U.S. mortgage bond market, where an investment gone awry in one risky bond in late 2008 led them to rein in risk.
NEW YORK (Reuters) - Hedge fund manager Whitney Tilson, who specializes in picking unloved stocks, said on Wednesday [Oct. 13] he still likes oil giant BP months after first scooping up the stocks after the catastrophic oil spill. The New York-based investor, who runs T2 Partners with Glenn Tongue, said BP shares can only rise.
Many a mutual fund manager has bolted to the free-wheeling hedge- fund world. Whitney Tilson and Glenn Tongue have done almost the reverse. They launched their first hedge fund in January 1999. Then, in March 2005, they unveiled Tilson Focus, a concentrated mutual fund that invests in undervalued companies of all sizes. It returned 20 percent over the past year. Tilson and Tongue look for safety, low price and rapidly growing value when they shop for stocks. If this reminds you of a certain investor in Omaha, it's for good reason. "We admit to being loyal Buffett disciples," says Tilson.
BOSTON (Reuters) - September was a terrible month for thousands of hedge funds, but a small number delivered out-sized returns on savvy bets that financials would drop. Whitney Tilson and Glenn Tongue, who run New York-based hedge fund T2 Partners LLC, told investors they earned 15.6% after fees in September. The average hedge fund lost about 5% during the month, preliminary data from Hedge Fund Research shows.
... and client communication efforts," said Glenn Tongue, President of DLJdirect." . "DLJdirect and ...
Glenn Beck, the former morning radio host at WKCI-FM in Hamden and more recently a syndicated talk-radio host, will launch a self- titled national TV show on CNN Headline News at 7 tonight. In a first for the channel, says a Headline News publicist, the show will air seven days at a week at 7; the show will also repeat at 9 p.m. and midnight, and weeknight shows will repeat on Saturdays and Sundays at the same times. "Glenn Beck" will be an unconventional and often amusing look at the news, says the publicist, focusing on world events, politics, pop culture and everyday hassles. Segments will include the tongue-in-cheek "Beck's Notes," stories from "Real America"; "Ask Glenn"; and the "Quality of Life Index," described as "a stock market-like segment on how the newsmakers of the day aff...
Thanksgiving is the holiday that pulls families together, squeezing them around a table for a feast of turkey, tradition and togetherness. We encourage conversations meant to be personally relevant, but sometimes they turn into a horizontal Babel, with each generation speaking in a different tongue. It's a stretch to identify an entire generation by its tastes in fashion and music, but such tastes offer strong clues. You can separate boomers from Generation Xers and Millennials by who prefers the Beatles, Michael Jackson or Lady Gaga. Seniors who came of age during World War II still groove on Glenn Miller and Tony Bennett. There are lots of dividers between generations.
Berkshire Hathaway reports 43% earnings jump OMAHA, Neb. -- Warren Buffett's Berkshire Hathaway reported a 43 percent jump in fourth-quarter earnings Saturday largely because of strong performance at its railroad business and a paper gain of $1.4 billion on the company's derivative contracts and investments. Buffett said in his annual letter to shareholders that the purchase of the Burlington Northern Santa Fe railroad was Berkshire's highlight of 2010. Berkshire reported net income of $4.38 billion, or $2,656 per share of its primary, Class A stock, which carries more voting power than Class B shares. That's up from the $3.1 billion net income, or $1,969 per Class A share, a year ago. It's also higher than the $1,695 per Class A share expected by analysts surveyed by FactSet. Revenue g...
... linked to housing, performed well, said Glenn Tongue, a managing partner at T2Partners investmen...
Berkshire Hathaway Inc. said third-quarter profit fell 7.7 percent on losses tied to derivatives. Net income declined to $2.99 billion, or $1,814 a share, from $3.24 billion, or $2,087, a year earlier, Omaha, Neb.-based Berkshire said Friday in a statement. Operating earnings, which exclude some investment results, came to $1,692 a share, missing the $1,736 average estimate of five analysts surveyed by Bloomberg.
... on a few quarters of ups and downs," said Glenn Tongue, a partner at T2 Partners LLC, which is a ...
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