Hedge Fund and Insider Trading News: Alta Fox Capital Management, Elliott Management, Bridgewater Associates, Archegos Capital Management, Bain Capital, Freeport-McMoRan Inc (FCX), Carvana Co. (CVNA), and More

Activist Investor Alta Fox Pushes to Replace Hasbro Chairman (Reuters)
(Reuters) – Alta Fox Capital Management LLC is seeking to oust Hasbro Inc’s chairman and two other directors, as the activist investor pushes for changes at the toymaker including a spin-off of it Wizards of the Coast unit. Alta Fox, a firm founded four years ago by hedge fund veteran Connor Haley and which owns a 2.5% stake in Hasbro, said the company’s chairman, Rich Stoddart, is “unqualified to continue serving”.

Bridgewater’s Top Strategist Says Fed Has to Ramp Up Rate Hikes (Bloomberg)
Rebecca Patterson has a message for Federal Reserve Chairman Jerome Powell: It’s time to get even more hawkish. The chief investment strategist at Bridgewater Associates, the world’s largest hedge fund, says interest rates will need to rise a lot higher than Powell thinks in order to tame inflation. The aggressive policy tightening that’s expected will continue to lift yields of all maturities, which helps explain why the firm is shorting Treasuries across the curve.

Archegos Owner Bill Hwang, Former CFO Patrick Halligan Charged with Fraud (CNBC)
Archegos Capital Management’s owner, Bill Hwang, and its former chief financial officer, Patrick Halligan, were arrested Wednesday in connection with the implosion of the family office last year. The men are expected to appear in Manhattan federal court later Wednesday and are being charged with racketeering conspiracy, securities fraud and wire fraud, according to a statement from the U.S. district court.

Rawpixel.com/Shutterstock.com

Hedge Fund Elliot Management Backs Mondee SPAC Deal (Hedge Week)
Hedge fund Elliott Management is to invest in a special purpose acquisition company (SPAC), according to a report by the Financial Times. SPACs have fallen out of favour with many investors in recent months, but Elliott, along with New York investment firm Siris Capital, is to invests $20 million in a SPAC deal for travel tech group Mondee. The deal values Mondee at $1 billion.

Expert Hedge Fund Manager Cathie Wood Stands Against the Tides (TipRanks)
Technology stocks that were performing exceedingly well during the pandemic have tumbled dreadfully since the world has started to return to normalcy. Accelerated economic growth, rising interest rates, and unfavorable geopolitical scenarios have all dragged down the tech sector among the larger growth stock buckets. Investors are flocking to safer havens and value stocks that seem to provide better market protection. Amid all the chaos, it becomes increasingly difficult to cherry-pick stocks and even more tedious to hold on to our convictions. In times like these, it would be wise to follow the convictions of sharper minds that manage billions of dollars of investors’ money through hedge funds.