The Alpha Masters: Unlocking the Genius of the World's Top Hedge Funds (38 page)

Roose, Kevin. “Pursuing Self-Interest in Harmony with the Laws of the Universe and Contributing to Evolution Is Universally Rewarded.”
New York
, April 10, 2011.

“Study: Bridgewater No. 1 Hedge Fund Among US Public Pensions,”
aiCIO
, March 17, 2011.

Trincal, Emma. “Bridgewater’s Dalio Criticizes HF IPOs,”
Hedgeworld
, May 25, 2007,
www.hedgeworld.com/news/read_news_printable.cgi?section=peop&story=peop3035.html
.

Ward, Sandra. “Observing a Bipolar World,” Barron’s, March 12, 2011. April 2011
http://online.barrons.com/article/SB50001424052970203423404576186671576180048.html
.

Ward, Sandra. “Recession? No, It’s a D-process, and It Will Be Long.”
Barron’s
, February 9, 2009.
http://online.barrons.com/article/SB123396545910358867.html#articleTabs_panel_article%3D1
.

Williamson, Christine. “Bridgewater Takes the Portable Alpha Route.”
Investment News
, November 6, 2006,
www.investmentnews.com/article/20061106/SUB/611060710
.

Chapter 2: Man versus Machine: Pierre Lagrange and Tim Wong, Man Group/AHL

Interviews

Tim Wong, CEO, Man Group’s AHL Fund, May 6, 2011.

Pierre Lagrange, Cofounder, GLG Partners, May 6, 2011.

References

www.glgpartners.com/
, July 2011.

www.mangroupplc.com/index.jsf
, May 2011.

Humble, Laura. “Chancellor Opens Man’s New Headquarters in Swan Lane, London.” Man Group. Print, June 14, 2011.

Sen, Neil. “The Odd Couple,”
Institutional Investor
, March 2011.

Chapter 3: The Risk Arbitrageur: John Paulson, Paulson & Co.

Interviews

Ace Greenberg, former chairman, Bear Stearns, July 2011.

Alan Greenspan, former chairman, Federal Reserve System, August 2011.

John Paulson, founder, Paulson & Co., December 2011.

John Paulson, founder, Paulson & Co., May 2011.

John Paulson, founder, Paulson & Co., April 2011.

John Paulson, founder, Paulson & Co., December 2010.

John Paulson, founder, Paulson & Co., December 2010.

Rick Sopher, managing director, LCF Edmond de Rothschild Asset Management Ltd, August 2011.

References

The Paulson Funds. 2011 Third Quarter Report.

Allen, Katrina. “Billion Dollar Club.”
AR: Absolute Return
+
Alpha
, March 2011.

Anadarko. Form 13-F. Third Quarter 2010.

Citigroup. Form 13-F. Fourth Quarter 2009.

Rohm & Hass. Form 13-F. Third Quarter 2008.

Taub, Stephen. “The Top 10 Hedge Funds for Investors.”
Institutional Investor
, February 17, 2011,
www.institutionalinvestor.com/Article/2770684/The-Top-10-Hedge-Funds-for-Investors.html?ArticleId=2770684
.

U.S. House of Representatives Committee on Oversight and Government Reform. Hearing, Statement of John Paulson. Washington, Print, 2008.

Zuckerman, Gregory,
The Greatest Trade Ever
. New York: Broadway Books, 2009.

Chapter 4: Distressed Debt’s Value Seekers: Marc Lasry and Sonia Gardner, Avenue Capital Group

Interviews

Stuart Bohart, senior managing director, Fortress Investment Group, October 2011.

David Bonderman, founding partner, TPG Capital, September 2011.

Darcy Bradbury, managing director, D. E. Shaw, October 2011.

Sonia Gardner, cofounder, Avenue Capital Group, June 2011.

Marc Lasry, cofounder, Avenue Capital Group, February 2011.

Charles Spiller, director, Pennsylvania Public School Employees Retirement System, August 2011.

References

Avenue Capital Management,
www.avenuecapital.com
, August 2011.

Avenue Capital Group,
http://en.wikipedia.org/wiki/Avenue_Capital
, August 2011

Burton, Katherine,
Hedge Hunters
, New York: Bloomberg Press, 2007.

Griffiths, Tony. “The
HFMWeek
50 Most Influential People in Hedge Funds,”
Hedge Fund Manager Week
, October 2010.

Skoglund, Jeff, and Michael Marczak. “Automotive High Yield and Bank Loan Weekly Relative Value.”
UBS
, February 9, 2009.

Skoglund, Jeff, and Julie Pearson. “Automotive High Yield and Bank Loan Weekly Relative Value,”
UBS
, January 22, 2010.

Taub, Steve, “Old World Value,”
Alpha
, January, 2007.

Chapter 5: The Fearless First Mover: David Tepper, Appaloosa Management

Interviews

Kenneth Dunn, Professor, Tepper School of Business at Carnegie Mellon University, December 28, 2011.

Alan Fournier, Founder, Pennant Capital Management, November 2011.

David Tepper, CEO, Appaloosa Management, March 24, 2011.

References

“David Tepper Hedge Fund Manager, Appaloosa Management,”
aTrader.com
, May 4, 2010. November 2011.

“Delphi Faces a Setback.”
Wall Street Journal Europe
, April 23, 2007.

Pressler, Jessica. “Ready to Be Rich.”
New York
, September 26, 2010.

Taub, Stephen. “The Happiest Man in Hedge Funds.”
AR: Absolute Return
+
Alpha
, February 2010.

Teitelbaum, Richard. “Tepper Turns Panic to Profits with $6.5 Billion Hedge Fund Gain,”
Bloomberg Markets
, January 2010.

Chapter 6: The Activist Answer: William A. Ackman, Pershing Square Capital Management

Interviews

Bill Ackman, founder, Pershing Square Capital Management, January 2011.

Bill Ackman, founder, Pershing Square Capital Management, May 2011.

Mark Axelowitz, managing director of investments, UBS Private Wealth Management, January 2012.

Adam Geiger, chief investment officer, New Legacy Capital, August 2011.

Jonathan Gray, senior managing director and head of global real estate, Blackstone Group, November 2011.

J. Tomlinson Hill, chief executive officer, Blackstone Asset Management, November 2011.

Rick Sopher, chairman, LCH Investments NV, February 2011.

Whitney Tilson, founder, T2 Partners, January 2012.

New York-based fund-of-hedge-fund manager, September 2011.

References

“Ackman Fights for More in Long’s Deal.”
SECInvestor
, September 8, 2008,
www.secinvestor.com/2008/09/08/Ackman+Fights+For+More+In+Longs+Deal.aspx
.

“Ackman on the Rating Agencies: ‘Wait to Rate,’”
New York Times Dealbook
, June 2, 2010,
http://dealbook.nytimes.com/2010/06/02/ackman-on-the-ratings-agencies-wait-to-rate/
.

“Ackman Questions Lampert on Sears,”
New York Times Dealbook
, May 6, 2008,
http://dealbook.nytimes.com/2008/05/06/ackman-grills-lampert-on-sears/
.

“Activist Investor Bids for Barnes & Noble, Borders Merger,”
Business Pundit
, December 7, 2010,
www.businesspundit.com/activist-investor-bids-for-barnes-noble-borders-merger/
.

“Bill Ackman.”
http://en.wikipedia.org/wiki/Bill_Ackman
.

“Bill Ackman Buys Sears Holdings Corp., Target Corp., Greenlight Capital Re, LTD., Sells Staples Inc.”
Guru News
, November 17, 2007.
http://www.gurufocus.com/forum/read.php?1,17371
.

Burton, Katherine. “Ackman’s Reputation May Get Marked Down in Target War (Update1).” Bloomberg, April 16, 2009,
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a9wSEaX9F1kI&refer=home
.

Burton, Katherine, and Christine Richard. “Ackman Devoured 140,000 Pages Challenging MBIA Rating (Update2).” Bloomberg, January 31, 2008,
www.bloomberg.com/apps/news?pid=newsarchive&sid=a7.NpGwa19TY
.

Burton, Katherine, and Daniel Taub. “Ackman May Make $170 Million on ‘Grand Slam’ General Growth Bet.” Bloomberg, February 18, 2010.
www.bloomberg.com/apps/news?pid=newsarchive&sid=ayJVCccKzc_8
.

Canadian Pacific Railway. Form 13-D. January 2012.

Cheng, Andrea. “Activist Investor Ackman Tapped to Sit on Expanded Board.” MarketWatch, January 24, 2011.
www.marketwatch.com/story/pershings-ackman-to-join-jc-penney-board-2011-01-24
.

Coroneos, Elise. “Ackman’s Plans for Fannie, Freddie,”
Hedge Fund Manager Week
, July 16, 2008,
www.hfmweek.com/news/150326/ackmans-plans-for-fannie-freddie.thtml
.

Crosby, Jackie. “Target Puts Credit Card Portfolio Back on the Block,”
Star Tribune
, January 13, 2011.

“CVS Caremark to acquire Longs Drug Stores,” eFinancial News, January 28, 2012.
www.efinancialnews.com/story/2008-08-13/cvs-caremark-to-acquire-longs-drug-stores
.

Dodes, Rachel. “Penney to Give Activists a Say on Board.”
Wall Street Journal
, January 25, 2011.

Eisinger, Jesse. “The Optimist,”
Portfolio.com
, May, 2009.
www.portfolio.com/executives/2009/04/22/Hedge-Fund-Manager-Bill-Ackman/
.

“First Quarter 2011.” Pershing Square Capital, May 25, 2011.

First Union Real Estate Equity and Mortgage Investments. Schedule 14A. 1998.

Gohel, Kapila. “New Mexico State Pension on a Roll for Hedge Funds.”
Hedge Fund Manager Week
, January 20, 2010,
www.hfmweek.com/news/427823/new-mexico-state-pension-on-a-roll-for-hedge-funds.thtml
.

Goldstein, Matthew. “REIT Deal Wasn’t Gotham’s First Rodeo.” The Street, January 27, 2003.
www.thestreet.com/story/10064701/1/reit-deal-wasnt-gothams-first-rodeo.html
.

Harris, Melissa. “Activist Investor Bill Ackman Won’t Back Down from Fight.”
Chicago Tribune
, October 17, 2010.

Hawthorne, Shannon. “New Jersey State Council Considers Blackstone Hire.”
Hedge Fund Manager Week
, July 20, 2011,
www.hfmweek.com/news/1680337/new-jersey-state-council-considers-blackstone-hire.thtml
.

Herbst-Bayliss, Svea. “Pershing’s Ackman Goes Shopping for Booze and Clothes.” Reuters, October 8, 2010,
www.reuters.com/article/2010/10/08/us-jcpenney-ackman-idUSTRE6972ZB20101008
.

La Roche, Julia. “Bill Ackman Just Bought a Big Stake in an Awesome Railroad Company.”
Business Insider
, October 31, 2011.