As promised recently we are updating/cleaning the investor resource pages on a regular basis. Last week we updated the pages of Edward Lampert and Bill Ackman, and this week we have finished the pages for David Tepper and Jim Chanos.
Canyon Distressed Opportunity Fund likes the backdrop for credit
The Canyon Distressed Opportunity Fund III held its final closing on Jan. 1 with total commitments of $1.46 billion, calling half of its capital commitments so far. Canyon has about $26 billion in assets under management now. Q4 2020 hedge fund letters, conferences and more Positive backdrop for credit funds In their fourth-quarter letter to Read More
Below is a partial excerpt from both pages followed by link to each full page, which can also be found under Value Investors tab on the top of the page.
Tepper first got involved in the financial management business when he took a position with Keystone Mutual Funds in 1984. In 1985, he was recruited by Goldman Sachs Group Inc (NYSE:GS) and took a job in their high yield group. His talents were obvious, and he became the group’s head trader within six months. Tepper worked for Goldman Sachs until late 1992, when he left after repeatedly being passed over for partnership.
See full page here.
Throughout his investment career, Chanos has identified and sold short the shares of numerous well-known corporate financial disasters; among them Baldwin-United, Commodore International, Coleco, Integrated Resources, Boston Chicken, Sunbeam, Conseco and Tyco International. His celebrated short-sale of Enron shares was dubbed by Barron’s as “the market call of the decade, if not the past fifty years.”
Chanos’ most famous short landed Chanos on the cover of Barron’s in 2002 as “The Guy Who Called Enron.” But the list of his targets stretches from Michael Milken’s junk bond empire through the real estate boom of the late 1980s, the telecom bubble of the late 1990s, Dennis Kozlowski’s Tyco and Bernie Ebbers’s WorldCom at the turn of the century, subprime mortgage lenders and home builders in 2007, and most recently China.
See full page here.