market folly

James Crichton and Adam Weiss' hedge fund Scout Capital just filed an amended 13G with the SEC regarding their position in Arcos Dorados (ARCO).

They've boosted their position size by almost 48% since the end of the second quarter. Scout now owns 10.78% of Arcos Dorados with 13,962,000 shares per portfolio activity on November 9th.

In other activity from the hedge fund, we detailed that they acquired total return swaps on Domino's Pizza.

Also, we've posted Scout's presentation on Williams (WMB) and Sensata Technologies (ST) from the Value Investing Congress.

Per Google Finance, Arcos Dorados is "is a McDonald’s franchisee. As of December 31, 2010, the Company operated or franchised 1,755 McDonald’s-branded restaurants, which represented 6.7% of McDonald’s total franchised restaurants globally. It operates McDonald’s-branded restaurants under two different operating formats, Company-operated restaurants and franchised restaurants."