Omega Advisors

The former Goldman partner’s strategy to hold out for a favorable deal paid off — and could serve as a blueprint for managers in the same situation.
Federal Reserve refrains from rate hike; Cooperman to fight insider-trading charges; Mylan CEO testifies before Congress; Yahoo! to admit hack; Apple turns to cars.
Stephen Taub explains why the Securties and Exchange Commission’s insider trading charges against Leon Cooperman, more than other hedge fund scandals, leaves him feeling more sad than angry.
A long-overdue shakeout of losing funds would make room for better-performing funds and maybe even return the industry to its scrappy survival-of-the-fittest days.
The almost somber mood among investors and managers at this week’s annual SALT conference reflected hedge funds’ recent struggles.