Guru Paul Singer (Trades, Portfolio) purchased a 67,100,000-share stake in Alcoa Inc. (NYSE:AA) in the fourth quarter.
Alcoa was originally founded on Oct. 1, 1888, as the Pittsburgh Reduction Company. It was based on technology developed by Alcoa's co-founder, Charles Martin Hall. Alcoa is the global industry leader among companies that engineer and manufacture lightweight metals. Alcoa produces aluminum, titanium and nickel, which are used in aircraft, automobiles, commercial transportation, packaging, oil and gas, defense and industrial applications. Continue Reading »