Tiger Capital takes a 2.5% new interest in Yahoo!! Holy cow 25 million shares!!
The New York-based fund bought 25 million shares in Sunnyvale, California-based Yahoo, a stake valued at $399 million at the end of September, according to a filing with Securities and Exchange Commission today. The firm also bought 7.2 million shares of Miami-based Burger King, a position worth $100 million, making it the company’s third-biggest shareholder.
You just answered your question. They bought YHOO shares by the end of September when the shares were depressed aand were in $15 range and not today at $18. Three months later when the shares are $15 (let's just assume), you will hear that Tiger capital has sold his shares in November and then you will start to follow Tiger capital and sell your shares at $15 :).
None of these managers will sell until Yahoo is at least $23-$25. There is now a $17 put under the stock for all of its cash on hand and its holdings in Alibaba and Yahoo Japan. Also, it is said that Alibaba is really worth $100 billion. That would put yahoo's stake worth around $24 billion. Again I will state this! Yahoo is worth twice what it is trading at. Why do you think a fund like Tiger Capital invested 5% of its total worth into the company? These guys do more deep research than all of us on this board combined times 100!