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Chevron said Tuesday it will buy Atlas Energy for $3.2 billion in cash — Atlas Energy is the parent company of Atlas Pipeline , which Anthony Scaramucci selected as his "Hedge Fund Trade of the Week" in March 2010.
But Scaramucci isn't taking credit. Renown hedge fund manager Leon Cooperman of Omega Advisors was the one to pick out Atlas Pipeline, said Scaramucci. Scaramucci's Skybridge Capital simply compiles information from top hedge funds to produce the "Hedge Fund Trade of the Week."
But the lesson with Atlas, he said, is that it's very cheap and macro forces for natural gas are positive. Since Scaramucci recommended the stock in March, it's up by more than 160 percent.
Scaramucci's latest trade is Automatic Data Processing , which is a blue chip name trading at around 18 times trailing 12 month earnings. He said it has a great balance sheet with lots of money in cash. It's also one of four companies left in the US with a triple-A rating. Plus, Bill Ackman of Pershing Square owns the name.
Click here to check out other Hedge Fund Trade Of The Week posts
* Anthony Scaramucci runs SkyBridge Capital and is a leading alternative asset manager with more than $7 billion under management. Every week on "Fast Money," Scaramucci, aka 'The Hedge', takes you behind the hedges, giving you an inside look at the names getting the most chatter in the hedge fund community.
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