Some Wall Street investment titans still think there’s meat on the bones of the carcass of bankrupt MF Global., according to NY Post coverage. Days after the firm descended into a death spiral that led to the eighth-largest bankruptcy in US history, the vultures are picking off pieces, including savvy financier David Tepper.
His hedge fund, Appaloosa Management, gobbled up an 8.6 percent stake in the firm’s shares on Nov. 2, after MF had moved from the Big Board to the over-the-counter market. Tepper also bought pieces of MF debt, sources said.
Hedge fund Elliott Management and Bank of America also have stakes in the collapsed broker-dealer and are betting there will be leftover value even after MF’s creditors and legions of customers get their money back....
Read more: http://www.nypost.com/p/news/business/vultures_pick_mf_carcass_EkuxrN5GVS7s5mZRnSHDIM#ixzz1eBAwq063
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