market folly

Jamie Dinan's hedge fund firm York Capital has disclosed a position in Elbit Imaging (EMITF).  Per a 13G filed with the SEC, York now owns 19.7% of Elbit Imaging with over 108.9 million shares.

The filing was required due to portfolio activity on February 28th and this is a newly disclosed equity stake.

The company recently announced a debt restructuring where its unsecured financial creditors received ordinary shares 

Dinan gave his rules of investing in a rare interview recently and shared his market thoughts if you missed it.

Per Google Finance, Elbit Imaging is "an Israel-based holding company. It operates in the fields of Commercial and Entertainment Centers, engaged in the initiation, construction and sale of shopping and entertainment centers and other mixed-use real property projects, predominantly in the retail sector; United States Real Property, investing in commercial real property in the United States; Hotels, engaged in the management and operation of hotels; Medical Industries, engaged in research and development, production and marketing of magnetic resonance imaging guided focused ultrasound treatment equipment and development of stem cell population expansion technologies and stem cell therapy products for transplantation and regenerative medicine; Residential Projects, engaged in the initiation, construction and sale of residential projects and other mixed-use real property projects, predominately residential, and Fashion Apparel, engaged in the Distribution and marketing of fashion apparel and accessories."