How Weinstein, Hedge Funds Outsmarted JPMorgan

NEW YORK (Reuters) - Saba Capital Management's Boaz Weinstein recently exited a now famous and profitable credit derivative bet against JPMorgan Chase , according to sources familiar with the trade. Hedge fund manager Weinstein was one of the early proponents of the credit trade, discussing it at a conference in February. In May, JP Morgan reported a $2 billion trading loss in its chief investment office, due to a bet on the Markit CDX NA IG Series 9 index. Weinstein's Saba, among other funds, were betting against that trade. ...

I have on numerous occasions made the claim that Henry Paulson is guilty of coercion and fraud. For those actions, he should be arrested and criminally tried. However, the latest disclosure in which hedge funds say they were tipped off by Paulson while he told Congress and reporters blatant lies is allegedly not even criminal behavior. Bloomberg reports Paulson Gave Hedge Funds Advance Word

* Investment bank bet against CIO in derivatives market * Bank said to have discussed merging opposing trade books * Opposing bets could fuel claim JPM is too big to manage

By CFA Institute: By Ron Rimkus, CFA

By Dividendinvestr:Boaz Weinstein, the founder and Chief Investment Officer of Saba Capital, a $5.7-billion credit relative value hedge fund, is one of the hedge fund managers identified in Ernst & Young and The Hedge Fund Journal's Tomorrow's Titans 2012, a list of 40 emerging hedge fund managers who are making significant contributions to the industry's development and success.

BOSTON — Some of the biggest hedge funds that helped make Apple Inc a stock market darling lost faith and dumped their stakes in the fourth quarter, fueling the massive drop in the iPhone maker’s share price. Noted stock pickers including Leon Cooperman, Eric Mindich and Thomas Steyer unloaded billions of dollars of Apple shares between September 30 and December 31, according to disclosure documents filed on Thursday.

FINalternatives submits: JPMorgan Chase (JPM) remains the largest hedge fund manager in the world, according to Pensions & Investments.

NEW YORK (Reuters) - Saba Capital Management's Boaz Weinstein recently exited a now famous and profitable credit derivative bet against JPMorgan Chase & Co , according to sources familiar with the trade. In May, JPMorgan reported a $2 billion trading loss in its chief investment office, due to large bets on an obscure group of indexes that track the performance of corporate bonds, including the Markit CDX NA IG Series 9 index. Weinstein's Saba, among other funds, bet against that trade. ...