CIT Group, Inc.

  • Fairholme & Bruce Berkowitz’s Bearish Moves; Should You Follow?

    By Meena Krishnamsetty - May 31, 2013 | Tickers: CIT, JEF, MBI, JOE, WFC

    Each quarter, hedge funds, such as Bruce Berkowitz’s Fairholme, file 13Fs with the SEC. The 13F forms disclose many of the positions held in the fund’s equity portfolio during the quarter. Fairholme is a very large managed fund, with over $19 billion assets under management, and has averaged an annual return of 12.9% over the past decade. We will now take a quick look at five stock more »

  • Bruce Berkowitz Sells Entire CIT Stake, You Should Too

    By Marshall Hargrave - May 6, 2013 | Tickers: CIT, GMT, IX

    According to Fairholme Fund's latest SEC filing, Bruce Berkowitz and his mutual fund has dumped its entire stake in CIT Group (NYSE: CIT). The stock is up over 12% in the past year, but has been trading in a tight range between $40 and $45 for most of 2013. With the news that Berkowitz has now dumped his stake, it's time to evaluate CIT and see if we more »

  • Billion-Dollar Hedge Fund Bullish on These "Fab Five"

    By Meena Krishnamsetty - April 10, 2013 | Tickers: BKU, CIT, DLPH, QUAD, VC

    Editor's Note: This version has been amended to correctly reference CIT's earnings announcement.

    Centerbridge Partners is a $1 billion-plus hedge fund run by Mark Gallogly, formerly with Blackstone. Although the fund invests in a variety of sectors, more than 90% of its entire equity portfolio is concentrated on only five stocks with a total value of $1,162,448,000. Obviously, Gallogly is very confident that these five more »

  • Billion Dollar Hedge Fund Bullish on This ‘Fab Five’

    By Meena Krishnamsetty - April 7, 2013 | Tickers: BKU, CIT, DLPH, QUAD, VC

    Centerbridge Partners is a +$1 billion hedge fund run by Mark Gallogly, formally with Blackstone. Although the fund invests in a variety of sectors, more than 90% of its entire equity portfolio is concentrated on only five stocks with a total value of $1,162,448,000. Obviously, Gallogly is very confident that these five stocks are worth such a significant weighting in his portfolio. Let’s take a look more »

  • Billionaire Howard Marks' Top Contrarian Investments

    By Meena Krishnamsetty - March 20, 2013 | Tickers: CHTR, CIT, DLPH, XCO, FBP

    Note: This post originally contained incorrect information regarding Oaktree's position in EXCO Resources. It has been edited to remove the error.

    Howard Marks was a founder of Oaktree Capital Management in 1995, along with a group of individuals who worked at TCW Group. Before he began managing Oaktree at inception, Marks worked at TCW, overseeing distressed debt, high yield bonds and convertible securities. Oaktree, meanwhile, now manages close to more »

  • Hedge Fund North Run Capital’s Stock Picks for 2013

    By Meena Krishnamsetty - February 13, 2013 | Tickers: ADBE, AET, CIT, GM, HSP

    13F filings are made within several weeks after the end of a quarter and disclose many of the long equity positions held by a hedge fund or other major investor. One way that we use this information to benefit investors is by researching investment strategies derived from our database of filings. For example, the most popular small cap stocks among hedge funds tend to outperform the market; we published the more »

  • $10 Billion Hedge Fund Bets Big on This Mortgage Services Company

    By Meena Krishnamsetty - February 13, 2013 | Tickers: BAC, CSE, CIT, IX, PHH

    A 13G filed with the SEC has disclosed that Pine River Capital, a hedge fund managed by Brian Taylor, owns 3.1 million shares of PHH Corporation (NYSE: PHH). This gives Pine River 5.2% of the total shares outstanding (see Pine River's stock picks); it may have exercised some of its convertible debt securities in building this position. PHH is a $1.3 billion market cap company with more »

  • Bruce Berkowitz's Top Positions (Last Part)

    By Anh HOANG - January 28, 2013 | Tickers: CIT, LUK, MBI

    The “Stock Manager of the Decade” Bruce Berkowitz has managed to deliver more than 13% annual return in the first 10 years of the 21st century with quite a concentrated portfolio. Although the concentration has made him lose more than 32.4% in 2011, it also helped him gain a return of more than 37% in 2012. I have written about his four biggest positions, including AIG, Sears Holdings more »

  • Glenview Capital’s Major New Positions

    By Meena Krishnamsetty - January 21, 2013 | Tickers: BEAV, CIT, CYH, JCP, LAMR

    Wall Street analysts take a fine-tooth comb to hedge fund 13F filings, watching how managers scale in and out of positions or initiate new ones.  They can be a great determiner of what’s hot and what’s not, and being able to decipher which new positions a hedge fund manager is building could mean getting in at the bottom when he or she does as well.  Glenview Capital’s more »

  • 5 Stocks Billionaire Lampert is Selling

    By Meena Krishnamsetty - December 20, 2012 | Tickers: AVP, COF, CIT, STX

    Eddie Lampert founded ESL Investments in 1988 and has become a 3.2 billion dollar man since. Lampert is also the chairman of Sears’s Board of Directors thanks to ESL’s large stake in the company. After reviewing ESL’s most recent 13F, we have found five stocks that Lampert decided to selloff entirely or reduce his stake in (check out Eddie Lampert’s newest picks).

    Avon Products (NYSE: AVPmore »)

  • Bruce Berkowitz is a Bull on These Stocks, Should You Be?

    By Meena Krishnamsetty - November 21, 2012 | Tickers: AIG, BAC, CIT, JEF, WFC

    Bruce Berkowitz founded Fairholme in 1997, and is a former senior portfolio manager for Lehman Brothers and managing director for Smith Barney. Berkowitz was named Morningstar's domestic stock fund manager of the decade for 2000-2009. Berkowitz has managed to beat the market for every year but 2003, and in 2010 the Fairholme Fund returned 25.5%, beating the market by 10%.

    Fairholme recently filed a 3Q 13F with the more »

  • Billionaire Marc Lasry’s Latest Stock Picks

    By Meena Krishnamsetty - November 15, 2012 | Tickers: CIT, GM, MX, TRW

    Marc Lasry was one of the highest paid hedge fund managers in 2010. His Avenue Capital Group invests much of its capital in debt, but its recent 13F filing with the SEC disclosed a few long equity positions as well. By looking at the fund’s positions, we think that investors and market watchers can get a feel not only for specific names that Lasry likes but also for what more »

  • Taconic Capital’s Latest Top Stock Picks

    By Meena Krishnamsetty - November 13, 2012 | Tickers: BP, CIT, GM, NXY, WPX

    Six to seven weeks after the end of every fiscal quarter, hedge funds and many other notable investors are required to file 13Fs that disclose many of their long equity positions. Taconic Capital, a hedge fund with about $9 billion under management, recently filed its own filing for the third quarter of 2012 and we have gone through its five largest reported positions by market value. Investors may not want more »

  • North Run Capital’s Top Stock Picks

    By Meena Krishnamsetty - November 13, 2012 | Tickers: ADBE, CIT, HNT, LIFE, XRX

    North Run Capital, which is managed by Thomas Ellis and Todd Hammer, filed its 13F for the third quarter of 2012 with the SEC earlier this month. These filings disclose many of a hedge fund’s or other major investor’s long equity positions to the general public, and investors can use this data to inform their decisions. We think that it can be a good idea to use these more »

  • More Mortgages and Trucks for Scopia Capital

    By Meena Krishnamsetty - October 12, 2012 | Tickers: BAC, CSE, CIT, IX, PHH

    Scopia Capital, a fund managed by Matt Sirovich and Jeremy Mindich, has increased the size of its position in PHH Corporation (NYSE: PHH), a company providing mortgage and fleet management services, to 6.3 million shares. Scopia now owns nearly 11% of the shares outstanding of the $1.3 billion market cap company. At the end of June, the fund had reported owning 5.6 million shares on its 13F more »

  • Is Amazon Secretly Building a Bank?

    By Matthew DiLallo - October 10, 2012 | Tickers: AMZN, CIT, EBAY, JPM

    By now I’m sure you’re used to seeing both your mail box and inbox inundated with credit card and loan offers from every financial institution imaginable.  They promise that you’re already prequalified for the money, all you need to do is fill out the form and your capital needs will be fulfilled.  That’s why I wasn’t even the least bit surprised to see that Amazon more »

  • This Hedge Fund Manager Likes Obama and These Stocks

    By Meena Krishnamsetty - September 25, 2012 | Tickers: BKU, CIT, QUAD, VC

    Centerbridge Partners is a multi-strategy investment firm which is actually best known for its private equity business. However, the fund also makes substantial investments in public companies. Mark Gallogly, who co-founded Centerbridge in 2005, previously spent 16 years at the Blackstone Group. He currently serves on the President’s Council on Jobs and Competitiveness. Below we have discussed some of Centerbridge’s top holdings from the end of June according more »

  • $9 Billion Hedge Fund's Top Stock Picks

    By Meena Krishnamsetty - September 12, 2012 | Tickers: BP, CA, CIT, GM, UTX

    Taconic Capital Advisors is a multi-strategy hedge fund with about $9 billion in total assets under management. Taconic invests both passively and actively and is co-managed by Frank Brosens and Kenneth Brody. Brosens is a former Goldman Sachs partner where, among other positions, he served as head of risk arbitrage. He has presented at the World Economic Forum and the Council on Foreign Relations and is a graduate of Princeton more »

  • Bruce Berkowitz’s Top Stock Picks

    By Meena Krishnamsetty - September 11, 2012 | Tickers: AIG, BAC, CIT, MBI, SHLD

    Bruce Berkowitz’s Fairholme Fund had a terrible 2011, finishing the year down 32%. However, this decline was led by a fall in the share price at American International Group (NYSE: AIG); with that stock up 39% so far this year, the fund closed the first half of 2012 up 25% versus 9% for the S&P 500. We know that Berkowitz likes AIG, but what are some of his more »

  • 7 Top CEOs Working for Pennies

    By Liz Hoffmann - August 23, 2012 | Tickers: AWK, BRK-B, BRK-A, CIT, GOOG, ISRG, MNST, WFM

    These days, we're all on the look out for a great value.  Whether we're buying household goods, travel services, or large-ticket items we want to get the most for our money.  So when it comes to the top CEOs, perhaps we should also consider them in terms of value.  How much is their total compensation and how does that correspond to the leadership that they provide for the more »

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