Monthly Archives: March 2019
Time to Sell? Rubenstein Puts Leon Black on the Spot Over 2013 Call
(Bloomberg) Almost six years ago, Leon Black famously warned it was time to sell “everything that’s not nailed down” after stock markets had more than doubled from their lows and prices for leveraged buyouts jumped. On Wednesday, the co-founder of […]
Corporate Travel Management Threatens to Sue Hedge Fund over Scathing Report
(Travel Weekly) Corporate travel management (ctm) has threatened VGI partners with a lawsuit following the hedge fund’s explosive allegations against the corporate travel company. VGI, which has previously disclosed its short position in CTM, released a scathing report of the […]
This Billionaire Hedge Fund Manager Says the United Technologies Split Doesn’t Go Far Enough
(Motley Fool) Activist investor Dan Loeb was a key figure in pushing industrial conglomerate United Technologies (NYSE:UTX) to split into three independent entities. Now, he wants the company to go a step further and seek a buyer for one large […]
Broker-Dealer Admits It Failed to File SARs
(HedgeCo.Net) Aegis Capital Corporation, a New York-based brokerage firm, has admitted that it failed to file Suspicious Activity Reports (SARs) on numerous suspicious transactions. Broker-dealers are required to file SARs for certain transactions suspected to involve fraudulent activity or have […]
Spotify listing could be roller coaster for retail investors
(The Business Insider) Spotify Technology SA’s unusual stock market debut earlier this week levels the playing field for individual investors who are normally at a disadvantage in traditional listings, but could also make them more vulnerable to swings in the […]
An $11 Billion Victory for Hostility (and Hedge Fund Arbs)
(Bloomberg) Hostile bids are never easy but the success of the bitterly contested takeover of U.K. engineer GKN Plc shows that the effort can still pay off even in today’s highly politicized M&A climate.The winning buyer, Melrose Industries Plc, has […]
Quant Style Slump That Strategists Foretold Finally Arrives
(Bloomberg) If you’ve been cursing at technology stocks for the past two days, there’s another corner of the market that’s perhaps just as deserving of your anger. It’s called momentum — quant jargon for stocks that have performed the best […]
Tesla is Just Months From a Total Collapse, Says Hedge-Fund Manager
(Marketwatch) Unless Elon Musk “pulls a rabbit out of his hat,” Tesla will be bankrupt within four months, says John Thompson of Vilas Capital Management. “Companies eventually have to make a profit, and I don’t ever see that happening here,” […]
Connecticut Borrows at Higher Price as Credit Woes Weigh
(Reuters) Connecticut paid a price for its credit woes on Wednesday as it borrowed $620 million at wider spreads than when it last issued similar debt a year ago, despite strong overall demand in the U.S. municipal bond market. Connecticut’s […]
Elliott Sees no Need for May Vote on T. Italia board if April AGM Backs Fund
(Reuters) Elliott Advisors does not believe Telecom Italia shareholders will need to choose a new board in May if they back the board candidates proposed by the activist investor at a meeting next month, the hedge fund said on Wednesday. […]
Simon Finch joins Man Group
(Reuters) Man Group, the active investment management firm, today announces that Simon Finch is joining the firm as CIO of Credit at Man GLG, its discretionary investment management engine. In this newly created role, Simon will be responsible for Man […]
Mark Patricof is Leaving Houlihan Lokey to Start Something ‘Big’
(New York Post) Houlihan Lokey Managing Director Mark Patricof is leaving the New York investment bank at the end of the week, The Post has learned. Patricof, who helped shop Gawker Media to potential buyers in 2015 — leading to […]