{"id":576569,"date":"2010-05-24T12:30:00","date_gmt":"2010-05-24T16:30:00","guid":{"rendered":"http:\/\/www.businessinsider.com\/hedge-fund-managers-are-getting-hammered-by-the-financials-right-now-2010-5"},"modified":"2010-05-24T12:30:00","modified_gmt":"2010-05-24T16:30:00","slug":"8-hedge-fund-managers-getting-hammered-by-the-fall-in-financial-stocks-bac-jpm-gs-c-cit","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/576569","title":{"rendered":"8 Hedge Fund Managers Getting Hammered By The Fall In Financial Stocks (BAC, JPM, GS, C, CIT)"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"float_right\" src=\"http:\/\/static.businessinsider.com\/image\/4b98f7df7f8b9ae242ab0400-270-202\/david-tepper.jpg\" border=\"0\" alt=\"David Tepper\" width=\"270\" height=\"202\" \/><\/p>\n<p>Financials have been a popular hedge fund investment since distressed debt became the investment en vogue back in 2009.<\/p>\n<p>And boy! Did they <a href=\"http:\/\/www.businessinsider.com\/hedge-fund-manager-rubs-brass-balls-makes-7-billion-2009-12\">pay off in 2009<\/a>.<\/p>\n<p>But each one of these managers stayed invested in financials last quarter (according to their 13F filings)&#8230;<\/p>\n<p>And if they&#8217;re are still in financials now, they&#8217;re getting hammered.<\/p>\n<h2>Chris Shumway<\/h2>\n<div class=\"image-container slide-image\"><img decoding=\"async\" src=\"http:\/\/static.businessinsider.com\/image\/4bf2b39b7f8b9ab126a70100-400-300\/chris-shumway.jpg\" alt=\"Chris Shumway\" border=\"0\" class=\"slide-image\" \/><\/div>\n<p><strong>Shumway Capital:<\/strong><\/p>\n<ul>\n<li>Almost <strong>$93 million<\/strong> in Bank of America (5.2 million shares)<\/li>\n<li><strong>$306 million<\/strong> in Goldman Sachs (1.8 million shares)<\/li>\n<li><strong>$163 million<\/strong> in JPMorgan (3.6 million shares)<\/li>\n<\/ul>\n<p><\/p>\n<h2>Phil Falcone<\/h2>\n<div class=\"image-container slide-image\"><img decoding=\"async\" src=\"http:\/\/static.businessinsider.com\/image\/4ab7fac92b4b173f0df87583-400-300\/phil-falcone.jpg\" alt=\"Phil Falcone\" border=\"0\" class=\"slide-image\" \/><\/div>\n<p><strong>Harbinger:<\/strong><\/p>\n<ul>\n<li><strong>$283.5 million<\/strong> in Citigroup (70 million shares)<\/li>\n<\/ul>\n<p><\/p>\n<h2>Steve Mandel<\/h2>\n<div class=\"image-container slide-image\"><img decoding=\"async\" src=\"http:\/\/static.businessinsider.com\/image\/4b637672000000000099078a-400-300\/steve-mandel.jpg\" alt=\"Steve Mandel\" border=\"0\" class=\"slide-image\" \/><\/div>\n<p><strong>Lone Pine:<\/strong><\/p>\n<ul>\n<li><strong>$273 million<\/strong> in Bank of America (15,277,033 shares)<\/li>\n<li>Almost <strong>$800 million<\/strong> in JPMorgan (17,814,985 shares)<\/li>\n<\/ul>\n<p><\/p>\n<h2>Paulson<\/h2>\n<div class=\"image-container slide-image\"><img decoding=\"async\" src=\"http:\/\/static.businessinsider.com\/image\/4bc8b4317f8b9af71afd0500-400-300\/paulson.jpg\" alt=\"Paulson\" border=\"0\" class=\"slide-image\" \/><\/div>\n<p><strong>Paulson &amp; Co:<\/strong><\/p>\n<ul>\n<li><strong>$3 billion<\/strong> in Bank of America (170 million shares) <\/li>\n<li>~<strong>$170 million<\/strong> in CIT (~4.5 million shares) <\/li>\n<li>Over <strong>$2 billion<\/strong> in Citigroup (506.7 million shares)<\/li>\n<li><strong>$600 million<\/strong> in JPMorgan (almost 26 million shares)<\/li>\n<\/ul>\n<p><\/p>\n<h2>Bill Ackman<\/h2>\n<div class=\"image-container slide-image\"><img decoding=\"async\" src=\"http:\/\/static.businessinsider.com\/image\/4b26338c0000000000c13442-400-300\/bill-ackman.jpg\" alt=\"Bill Ackman\" border=\"0\" class=\"slide-image\" \/><\/div>\n<p><strong>Pershing Square:<\/strong><\/p>\n<ul>\n<li><strong>$91.5 million<\/strong> in CIT (2.35 million shares)<\/li>\n<\/ul>\n<p><\/p>\n<h2>Dan Loeb<\/h2>\n<div class=\"image-container slide-image\"><img decoding=\"async\" src=\"http:\/\/static.businessinsider.com\/image\/4b7c38ea0000000000852064-400-300\/dan-loeb.jpg\" alt=\"Dan Loeb\" border=\"0\" class=\"slide-image\" \/><\/p>\n<p class=\"caption\">Dan Loeb<\/p>\n<p>Image: screen grab from 1440wallsteet.com<\/p>\n<\/div>\n<p><strong>Third Point:<\/strong><\/p>\n<ul>\n<li><strong>$91.6 million<\/strong> in Citigroup (2.35 million shares)<\/li>\n<\/ul>\n<ul>\n<\/ul>\n<p><\/p>\n<h2>David Einhorn<\/h2>\n<div class=\"image-container slide-image\"><img decoding=\"async\" src=\"http:\/\/static.businessinsider.com\/image\/fdb9b9146cc94e48d85f7200-400-300\/david-einhorn.jpg\" alt=\"David Einhorn\" border=\"0\" class=\"slide-image\" \/><\/div>\n<p><strong>Greenlight:<\/strong><\/p>\n<ul>\n<li>~<strong>$420 million<\/strong> in CIT (10 million shares)<\/li>\n<\/ul>\n<p><\/p>\n<h2>David Tepper<\/h2>\n<div class=\"image-container slide-image\"><img decoding=\"async\" src=\"http:\/\/static.businessinsider.com\/image\/4b98f7df7f8b9ae242ab0400-400-300\/david-tepper.jpg\" alt=\"David Tepper\" border=\"0\" class=\"slide-image\" \/><\/div>\n<p><strong>Appaloosa:<\/strong><\/p>\n<ul>\n<li><strong>$541.6 million<\/strong> in Bank of America (30.3 million shares)<\/li>\n<li><strong>$252.7 million<\/strong> in Citigroup (62.4 million shares)<\/li>\n<\/ul>\n<p><\/p>\n<h2>Now watch how their money disappeared over the last three months into each bank&#8230;<\/h2>\n<div class=\"image-container slide-image\"><img decoding=\"async\" src=\"http:\/\/static.businessinsider.com\/image\/b437544be979954976d02200-400-300\/now-watch-how-their-money-disappeared-over-the-last-three-months-into-each-bank.jpg\" alt=\"Now watch how their money disappeared over the last three months into each bank...\" border=\"0\" class=\"slide-image\" \/><\/div>\n<p><\/p>\n<h2>Bank of America (BAC) has dropped from $19.48 to ~$16.<\/h2>\n<div class=\"image-container slide-image\"><img decoding=\"async\" src=\"http:\/\/static.businessinsider.com\/image\/4bfaa6ea7f8b9a9b69400000-400-300\/bank-of-america-bac-has-dropped-from-1948-to-16.jpg\" alt=\"Bank of America (BAC) has dropped from $19.48 to ~$16.\" border=\"0\" class=\"slide-image\" \/><\/div>\n<p><\/p>\n<h2>Goldman (GS) has gone from $184 to ~$140 <\/h2>\n<div class=\"image-container slide-image\"><img decoding=\"async\" src=\"http:\/\/static.businessinsider.com\/image\/4bfaa6fe7f8b9a847fca0000-400-300\/goldman-gs-has-gone-from-184-to-140.jpg\" alt=\"Goldman (GS) has gone from $184 to ~$140 \" border=\"0\" class=\"slide-image\" \/><\/div>\n<p><\/p>\n<h2>Citigroup (C) dropped from almost $5 to under $4<\/h2>\n<div class=\"image-container slide-image\"><img decoding=\"async\" src=\"http:\/\/static.businessinsider.com\/image\/4bfaa70c7f8b9ada7fdb0000-400-300\/citigroup-c-dropped-from-almost-5-to-under-4.jpg\" alt=\"Citigroup (C) dropped from almost $5 to under $4\" border=\"0\" class=\"slide-image\" \/><\/div>\n<p><\/p>\n<h2>CIT went from $41.75 to ~$35<\/h2>\n<div class=\"image-container slide-image\"><img decoding=\"async\" src=\"http:\/\/static.businessinsider.com\/image\/4bfaa71a7f8b9ae47ce40000-400-300\/cit-went-from-4175-to-35.jpg\" alt=\"CIT went from $41.75 to ~$35\" border=\"0\" class=\"slide-image\" \/><\/div>\n<p><\/p>\n<h2>JPM fell from almost $48 to around $40<\/h2>\n<div class=\"image-container slide-image\"><img decoding=\"async\" src=\"http:\/\/static.businessinsider.com\/image\/4bfaa7287f8b9a3c7c6f0100-400-300\/jpm-fell-from-almost-48-to-around-40.jpg\" alt=\"JPM fell from almost $48 to around $40\" border=\"0\" class=\"slide-image\" \/><\/div>\n<p><\/p>\n<h2>Ouch! Now see how they offset financials last quarter &#8211;><\/h2>\n<div class=\"image-container slide-image\"><img decoding=\"async\" src=\"http:\/\/static.businessinsider.com\/image\/4bed28b37f8b9a9422f90200-400-300\/ouch-now-see-how-they-offset-financials-last-quarter-.jpg\" alt=\"Ouch! Now see how they offset financials last quarter --&gt;\" border=\"0\" class=\"slide-image\" \/><\/div>\n<h3><strong><a href=\"http:\/\/www.businessinsider.com\/the-60-second-guide-to-what-hedge-funds-are-investing-in-right-now-2010-5\">The 60-second guide to what hedge funds are invested in right now &gt;<\/a><\/strong><\/h3>\n<p><a href=\"http:\/\/www.businessinsider.com\/hedge-fund-managers-are-getting-hammered-by-the-financials-right-now-2010-5#comments\">Join the conversation about this story &#187;<\/a><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/feeds.feedburner.com\/~r\/TheMoneyGame\/~4\/bcypcUl25HY\" height=\"1\" width=\"1\"\/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Financials have been a popular hedge fund investment since distressed debt became the investment en vogue back in 2009. And boy! Did they pay off in 2009. But each one of these managers stayed invested in financials last quarter (according to their 13F filings)&#8230; And if they&#8217;re are still in financials now, they&#8217;re getting hammered. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-576569","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/576569","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=576569"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/576569\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=576569"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=576569"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=576569"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}