Monthly Archives: May 2018
Hedge Fund Managers Shift Billions Over Carried Interest Concern
(Bloomberg) Late last year, some hedge fund managers raced to protect their personal fortunes from being carved up by the Republican tax law. David Tepper, who runs Appaloosa Management and may soon own the Carolina Panthers, and Ross Margolies, founder […]
Elliott Takes the Scenic Route for Arconic Revival
(Bloomberg) After Elliott Management Corp. claimed victory in its boardroom battle at Arconic Inc. last May, I warned that the hard part was just starting. I didn’t know the half of it. Elliott’s agreement to nominate three board directors capped […]
Tricadia Capital Sees Assets Halved, Managers Depart
(Bloomberg) A decade after making a killing during the financial crisis, Tricadia Capital Management has fallen on hard times. A slew of executives have left and assets have tumbled to about half of where they were at their peak. The […]
SEC Tries to Scam ICO Investors to Show Them How Easy It Is
(Bloomberg) A hot new initial coin offering gives investors the chance of a lifetime to make money from sun-soaked beaches and crystal-clear waters. It also provides something even more valuable: advice on how to avoid getting ripped off by fraudulent […]
SEC Charges Brokerage Firms and AML Officer With Anti-Money Laundering Violations
(HedgeCo.Net) The Securities and Exchange Commission today announced settled charges against broker-dealers Chardan Capital Markets LLC and Industrial and Commercial Bank of China Financial Services LLC (ICBCFS) for failing to report suspicious sales of billions of penny stock shares. Broker-dealers […]
Big-Name Hedge Funds Bought Healthcare Stocks in 1st Quarter
(Reuters) Prominent hedge fund managers appeared to make big first-quarter bets in UnitedHealth Group Inc, Anthem Inc and other health insurers whose shares tumbled in January after Jeff Bezos, Warren Buffett and Jamie Dimon in January announced a joint venture […]
Ray Dalio Joins Hedge Funds Buying Cliffs After Trump Tariffs
(Bloomberg) Cleveland-Cliffs Inc., the top U.S. iron-ore producer, is reaping the gains from U.S. President Donald Trump’s steel tariffs. Hedge funds including billionaire Ray Dalio’s Bridgewater Associates LP have taken notice. Money managers increased their position in Cliffs by 13.9 […]
Pershing Square’s Vice Chairman Fraidin to Leave Hedge Fund
(Reuters) Stephen Fraidin, a lawyer who joined Bill Ackman’s Pershing Square Capital Management as vice chairman in 2015, is leaving the activist hedge fund, Ackman told investors on Tuesday. Fraidin, who was most recently a partner at Kirkland & Ellis […]
Meet Tesla’s New Bondholder: Billionaire George Soros
(Reuters) The investment firm founded and chaired by billionaire George Soros took a stake in Tesla Inc (TSLA.O) bonds during the first three months of the year, giving the electric carmaker run by Elon Musk a prominent supporter.Soros Fund Management […]
Third Point Exits Macerich, Honeywell, Time Warner; Adds Wynn
(Bloomberg) Third Point, the activist fund run by Dan Loeb, exited a series of high-profile positions during the first quarter, including stakes in Honeywell International Inc., Time Warner Inc., MGM Resorts International and U.S. mall owner Macerich Co. The New […]
Hedge Funds Bet on Big Turnaround by Italy’s Mid-Tier Banks
(Reuters) Major hedge funds have picked Italian mid-tier banks as one of Europe’s few remaining recovery plays, betting they will shed billions of euros in bad loans. Europe’s 2010-2012 debt crisis left Italy’s banks with among the euro zone’s biggest […]
Carolina Panthers Set to be Sold For NFL Record $2.2bn to Hedge Fund Owner
(The Guardian) The Carolina Panthers are being sold for an NFL-record $2.2bn. Hedge fund manager David Tepper has agreed to buy the Panthers from team founder Jerry Richardson, a source has told the Associated Press. The purchase is subject to […]