Baupost Group LLC, the hedge-fund firm run by Seth Klarman, bought a stake in Liquefied Natural Gas Ltd. as the Australian company studies further projects to follow its proposed $3.5 billion U.S. venture.
Baupost Group LLC, the Boston-based hedge-fund firm run by Seth Klarman, stands to make a paper profit of more than $900 million today after Merck & Co. agreed to pay a record premium for a big health-care deal with its acquisition of Idenix Pharmaceuticals Inc.
Benjamin Graham , the patron saint of value investing, died 34 years ago. His classic books -- “Security Analysis” (1934) and “The Intelligent Investor” (1949) -- are still read by scores of value managers who keep his name and stock-picking methods alive.
Ruane Cunniff & Goldfarb Inc., managers of the Sequoia Fund Inc., made a paper profit of about $300 million today on shares of Valeant Pharmaceuticals International Inc., bringing its gain on the investment to approximately $3.8 billion since it first bought the stock in 2010.
This week’s notable deaths included the co-founder of the Sequoia Fund; the last surviving creator of the American Football League and owner of the Buffalo Bills; a former U.S. secretary of defense; the prime minister of Spain who led the country from dictatorship to democracy; and a former New Yorker staff writer who wrote about the horrors of war.