OZM: Sticking To Our Guns

Och-Ziff Capital Management remains one of our top long ideas in the alternative asset management space. Tailwinds from QE3 combined with solid operational performance are a key driver for the stock. Management continues to impress with solid returns for 2012 with the OZM Master Fund (70% of AUM) up 11.18% for the year. While fund flows were negative for December by approximately $450 million, they were positive for the full-year at $300 million. We expect 2013 to offer strong inflows of capital for OZM in addition to strong performance numbers. We sold OZM this morning in our Real-Time Alerts but continue to like the stock - we're just managing the risk and the range.

 

OZM: Sticking To Our Guns  - image028


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Todd Jordan on Las Vegas Sands Earnings

"The quarter actually beat lowered expectations. Overall, the mass segment performed well although base mass lagging is a concern," writes Hedgeye Gaming, Lodging & Leisure analyst Todd Jordan on Las Vegas Sands.

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An Update on Defense Spending by Lt. Gen Emo Gardner

"Congress' FY17 omnibus appropriation will fully fund the Pentagon's original budget request plus $15B of its $30B supplemental request," writes Hedgeye Potomac Defense Policy analyst Lt. Gen Emerson "Emo" Gardner USMC Ret.

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