A New leaf: why a Hedge Fund Manager Bought a Bank (Risk.net)
Andy Redleaf founded a $6 billion hedge fund. Now he runs a small community bank. In many ways, Andy Redleaf was a quintessential hedge fund manager. A Yale University maths graduate, he traded options at Gruntal & Co – alongside investing legend-to-be Steven Cohen – and in the Chicago options-trading pits before co-founding Deephaven Capital Management in 1994 and then Whitebox Advisors in 2000. At Whitebox, he predicted the subprime crisis and subsequent economic recovery. Then, he started to go off-script.
U.S. Activist Investors Post Strong Gains as Needling Companies Pays Off (Reuters)
BOSTON (Reuters) – Activist investors who are shaking up Corporate America with calls for operational fixes, refreshed boards and even sales of a company are delivering their best returns in six years with double-digit gains for 2019 after big losses in 2018. The surge in returns is energizing experienced corporate agitators as well as newcomers and may force more companies into costly battles with shareholders over their corporate future next year, managers, lawyers and bankers said.
Steyer Takes Shot at Buttigieg on Climate Change: ‘Why aren’t You Stronger?’ (Fox News)
MANCHESTER, N.H. – Democratic presidential candidate Tom Steyer accused nomination rival Pete Buttigieg on Monday of not being aggressive enough on the issue of climate change. Steyer, speaking with reporters while campaigning in New Hampshire, was asked a question by Fox News about another rival – Sen. Elizabeth Warren of Massachusetts. But he quickly pivoted to the South Bend, Ind., mayor who was a popular target at last week’s primary debate – saying “to me the question, which I asked Pete Buttigieg on the stage, is why don’t you have a better climate stance?”
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Warren Buffett’s Likely Successor will be Geico’s Next CEO – Here’s How He Prepared Todd Combs for the Role (Business Insider)
Warren Buffett‘s deputy, Todd Combs, is set to become CEO of Geico starting next year. Combs will continue to oversee $14 billion in assets as an investment manager at Buffett’s Berkshire Hathaway conglomerate. Leading the nation’s second-largest auto insurer while managing a massive portfolio might seem unfeasible, but a review of Buffett’s annual shareholder letters suggests he’s been preparing Combs for this type of role. Combs’ joint responsibilities will also be valuable practice for running the entirety of Berkshire one day.
Hedge Fund Software Market Complete Competitive Analysis and Detailed Geographical Study 2019 – 2025| FundCount, NorthstarRisk, FXCM (MarketReportObserver.com)
Los Angeles, United State,December 24th,2019 :QY Research offers an overarching research and analysis-based study on the global Hedge Fund Software Market , covering growth prospects, market development potential, profitability, supply and demand, and other important subjects. The report presented here comes out as a highly reliable source of information and data on the global Hedge Fund Software market. The researchers and analysts who have prepared the report used an advanced research methodology and authentic primary and secondary sources of market information and data. Readers are provided with clear understanding on the current and future situations of the global Hedge Fund Software market based on revenue, volume, production, trends, technology, innovation, and other critical factors.
SAC’s Richard Lee Admitted to Insider Trading. Then He Cleared His Name (Bloomberg)
Richard Lee doesn’t remember the trades that upended his life. A former SAC Capital Advisors LP portfolio manager, Lee managed a $1.25 billion fund for his boss Steve Cohen. He had tens of thousands of trades under his belt, so the roughly $10 million in Yahoo Inc. shares he bought on July 10, 2009, didn’t really stand out. But when the FBI approached him in March 2013, saying they had proof the investment was based on an illegal tip, the forgotten trades left him feeling trapped.
Insider Trading Cases: SEBI Comes Out With New Informant Mechanism To Reward Whistleblowers (Bloomberg)
The Securities and Exchange Board of India on Tuesday came out with a new mechanism to reward whistleblowers and other informants for sharing information about insider trading cases. Under the new framework, it would be mandatory to disclose the source of information, besides, confidentiality regarding the identity of the informant would be protected, the regulator said in a statement. Insider trading refers to trading of securities while in possession of Unpublished Price Sensitive Information about the particular securities.
In Insider Trading Case US Opposes Telemaque Lavidas Subpoena to MCC for Cooperator Records (InnerCityPress.com)
SDNY COURTHOUSE, Dec 24 – From Buffalo Wild Wings to a London insiders traders love next, an arrest on Friday October 18 led to an unsealed indictment on October 21 in the U.S. District Court for the Southern District of New York. No honor, nor borders, among thieves. On October 22 the US Attorney’s Office announced more, below. But the cases are split between SDNY judges, which Inner City Press will cover. Before an unsuccessful October 23 bail argument, ReedSmith argued to Judge Denise Cote: “Re: United States v. Nikas, et al.; 19 CRIM 716 Dear Judge Cote: In anticipation of the bail hearing scheduled for today at 12:45 pm, we write to bring additional information to the Court’s attention.
Chegg Inc (CHGG) PRESIDENT, CEO & CO-CHAIRMAN Daniel Rosensweig Sold $5.8 million of Shares (Guru Focus)
PRESIDENT, CEO & CO-CHAIRMAN of Chegg Inc., Daniel Rosensweig, sold 150,000 shares of CHGG on 12/20/2019 at an average price of $38.36 a share. The total sale was $5.8 million. Chegg Inc is a student-first connected learning platform empowering students to take control of their education to save time and money. It offers its products and services under Chegg services and required materials categories. Chegg Inc has a market cap of $4.6 billion; its shares were traded at around $38.04 with and P/S ratio of 11.76. GuruFocus has detected 1 severe warning sign with Chegg Inc.
The President & CEO of Urstadt Biddle Properties (NYSE: UBA) is Buying Shares (Analyst Ratings)
Yesterday, the President & CEO of Urstadt Biddle Properties (UBA), Willing Biddle, bought shares of UBA for $666K. Following this transaction Willing Biddle’s holding in the company was increased by 8.94% to a total of $65.33 million. Following Willing Biddle’s last UBA Buy transaction on December 26, 2017, the stock climbed by 4.4%.
