Hedge Fund Manager Who Said ‘I’m Going To Jail’ Is In Fact Going To Jail (Deal Breaker)
Dan Kamensky knew what he had coming to him. Shortly after attempting to browbeat his investment bank into not outbidding him for something he’d fought for and wanted for his hedge fund, Marble Ridge Capital, he turned to pleading. “If you’re going to continue to tell them what you just told me, I’m going to jail, okay?” he said. “I’m asking you not to put me in jail.” Well, Kamensky’s begging proved no more successful than his bullying, and the Jefferies banker on the other end did continue to tell them what he had just told Kamensky, which was probably something along the lines of, “you appear to have breached your fiduciary duty to your fellow Neiman Marcus creditors, whom you represent as a member of the creditors committee, but trying to keep them from getting that extra 10 cents a share you’d prefer Marble Ridge not have to pay.”
Saba Capital Reaches Agreement With Invesco Dynamic Credit Opportunities Fund (MENAFN)
(MENAFN – Caribbean News Global) Invesco Dynamic Credit Opportunities Fund to Commence Tender Offer and Reorganize into Interval Fund. NEW YORK–(BUSINESS WIRE)– Saba Capital Management, L.P. and certain associated parties (collectively ”Saba”) today announced that it has reached an agreement with Invesco Dynamic Credit Opportunities Fund (NYSE: VTA) (the ”Fund”).
Billionaire Hedge Fund Manager Stanley Druckenmiller Says Hard to Unseat Bitcoin as Store of Value (Coin Gape)
Stanley Druckenmiller, the billionaire hedge fund manager and former chairman and president of Duquesne Capital in a recent interview with CNBC said that it would be quite difficult to unseat as a store of value because of the finite supply, he also went on to compare Bitcoin with the rise of Facebook and Google despite not being the first firm in their respective fields of social network and search engine respectively.
Tech Giant CEOs Sell Over $6bn of Stock in 2021 (Share Cast)
The chief executive officer’s of the five major technology companies in the world sold $6.36bn worth of stock in their firms between January and May 2021, revealed the latest data from Finbold. Amazon owner Jeff Bezos led the table, having offloaded AMZN shares worth $4.9bn. Facebook CEO Mark Zuckerberg sold $1.2bn of his stock. Cumulatively, the two executives offloaded $6.1bn-worth of shares in their respective companies. Nvidia CEO Huang Jen Hsun sold $77.28m worth of shares to rank third. Microsoft chief executive Nadella Satya divested $65.44m of MSFT stock, while Alphabet’s Pichai Sundar sold $33.05m.
Privacy First DeFi Sienna Network Raises $11.2 Million, Takes Front-Running Head On (Tech.eu)
For those in the know, front-running is a problem when it comes to financial privacy in the world of crypto. Because of the nature of the blockchain-based world, that is, transparency, if you know where and when to look, and what to do (I’m looking at you transaction fees), you stand to make a killing. Allow me to rephrase, perhaps in terms you’ve previously heard; Insider Trading. That is, traders can use the data of pending transactions to maximize profits before the data is confirmed. Needless to say, on regulated markets, this practice is highly illegal.
A Director at Wsfs Financial (NASDAQ: WSFS) is Selling Shares (Analyst Ratings)
Today, a Director at WSFS Financial (WSFS), Mark Turner, sold shares of WSFS for $1.55M. In addition to Mark Turner, 4 other WSFS executives reported Sell trades in the last month. Based on Wsfs Financial’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $162 million and quarterly net profit of $65.08 million
Facebook Inc (FB) COB and CEO Mark Zuckerberg Sold $21.8 million of Shares (Guru Focus)
COB and CEO of Facebook Inc, Mark Zuckerberg, sold 68,000 shares of FB on 05/07/2021 at an average price of $320.59 a share. The total sale was $21.8 million.
SEC Awards $22 Million to Two Whistleblowers (HedgeCo.net)
(HedgeCo.Net) The Securities and Exchange Commission today announced awards totaling approximately $22 million to two whistleblowers whose information and assistance were of crucial importance to successful SEC enforcement actions brought against a financial services firm. The first whistleblower received an award of $18 million, while the second whistleblower received a $4 million award. The larger award was in recognition of the fact that, among other things, the first whistleblower was the initial source of the investigation while the second whistleblower submitted information much later after the investigation was already underway.
