High school rugby coach Bob Markovich paid $3,812 for 250 shares of the Global X Copper Miners ETF in September. He got the idea from an investment club he advises for students, including his daughter Lydia.
James Chanos’s Kynikos Associates LP and Daniel Loeb’s Third Point LLC won dismissal from an $8 billion lawsuit accusing the two hedge funds of spreading negative information to drive down Fairfax Financial Holdings Ltd.’s stock price.
China told banks to stop loans for third-home purchases as the government steps up measures to cool property prices with some of the “most draconian” orders yet. Shares of developers and banks tumbled.
Hedge fund manager James Chanos is overly pessimistic about China’s property market because he underestimates government efforts to avoid a bubble, according to Fan Gang, a former People’s Bank of China adviser.
Fairfax Financial Holdings Ltd., with seven of eight hedge funds it accused of spreading false rumors out of a lawsuit, may see the $24 billion case shrink again with a judge poised to rule whether racketeering counts allowing triple damages should be tossed.