InterOil: Point72 Asset Management discloses 6.3% passive stake in 13G filing

[Palm]

Ethics be damned.

[Dr. Wu]

Well there's some more really great news

Say what you want about the man but he is an outstanding investor...

Ok he's not the super long term fundamental investor like a Capital or Wellington, but the guy is revered by hedge funds for his outstanding investment management record.  This will get the attention of alot of people in the hedge fund world.  BTW, he is not an activist type, but rather a opportunist and knows downside (stressed seller) and upside (recertification) when he sees it.

I'm ok with this - the question is whether his actions attract other more activist HFs.  A little activism might not hurt and get mgmt to think like shareholders...

[Palm]

Agree; Chandler tried behind the scenes. Cohen, should he choose that route likely would be more overt.

[jft310]

I believe the filing says this is a passive investment . Not to say he could not refile and join others . The filing is his current intentions . Apparently Cohen saw the AGM slides?. he has been long Interoil before never at this size .

[Palm]

See in official filing he has all but 42k shares in main A7 and the 42k in Cubic. Then states Cohen personally has the total of 3+ million shares. Saw elsewhere (not on SHU) that someone said the attributed personal for Cohen are in addition to the 3+ million, but that's a rookie mistake. The shares attributed to him personally are the total of the 2 funds.

We'll see if this is a good thing or not before two long.

[jft310]

Palm is correct Cohen created a family office as his registered security entity . That entity could have sub funds controlled in total by the family office . A family office is a different entity than individual stock ownership registration.

[Palm]

The Date Of Event on the filing says July 21, so this appears to have been from Chandler's dump #2 this week.

[Stavros]

Perhaps Stevie Cohen bought a chunk of Chandler's first dump to cover his Short position??

[jft310]

Rumor! He also bought 5,000 options strike price $50 when he bought the stock . Pretty convinced we have some recovery .

[Stavros]

FACT ... his filing says he has 532,200 shares in the form of CALLS.

The September 50 CALL Options (5,604 open interest now) showed up on July 14th.

SPECULATION is that most of those are the ones in his filing.