Scaramucci Says SkyBridge can Buy Back FTX Stake This Year, Alleges SBF Committed Fraud (CNBC)
SkyBridge Capital can buy back the stake it sold to collapsed cryptocurrency exchange FTX but the issue will likely take months to resolve, the investment firm’s founder Anthony Scaramucci told CNBC Friday, “We’re waiting for the clearance from the bankruptcy people, the lawyers and the investment bankers to figure out exactly what we’re going to be buying back, and when,” he said, adding that the situation likely won’t be resolved “until probably the end of the first half of this year.
Peltz’s Trian Fund Says It will Not Pursue Takeover Bid for Wendy’s (Reuters)
Trian Fund Management, run by activist investor Nelson Peltz, said on Friday it will not pursue a takeover of Wendy’s Co (WEN.O), months after the company’s largest shareholder said it was considering a potential bid for the burger chain. Shares of Wendy’s, which had fallen about 5% in 2022, were down about 1% in premarket trading. Trian said in May last year it was exploring taking over Wendy’s, either on its own or with others, almost two decades after Peltz invested in the company.
Billionaire Investor Bill Ackman Says the Public Shouldn’t ‘Rush to Convict’ Sam Bankman-Fried (Business Insider)
The billionaire investor Bill Ackman, who heads the hedge fund Pershing Square Capital, can relate to the public pile on against Sam Bankman-Fried. Ackman, known for his $2.6 billion bet that the COVID-19 crisis would hurt the stock market, tweeted on Thursday that defendants like Bankman-Fried should be considered “innocent unless and until proven guilty,” citing his own past run-in with regulators over allegations against him in the early 2000s of market manipulation.
Pixabay/Public Domain
Billionaire Leon Cooperman Shares Value Investing Wisdom And 2023 Stock Picks (Forbes)
As a child of immigrants and a first-generation college graduate from the Bronx, Leon Cooperman made a fortune building Goldman Sachs’ asset management division and compounded it in 27 years running his hedge fund Omega Advisors. He joined Goldman as an analyst the day after graduating from Columbia’s business school in 1967, rising to become a general partner at the firm and chairman and CEO of Goldman Sachs Asset Management. Cooperman left to launch his hedge fund in 1991, which returned 12.5% annually betting on undervalued stocks, outperforming the S&P 500 Index by three percentage points, before he converted it to a family office in 2018.
Hedge Fund Fight With Union Exposes Vast Stakes of Tegna Deal (Bloomberg Law)
A union lawyer arguing that the$5.4 billion purchase of broadcaster Tegna Inc. by hedge fund Standard General LP will corrode democracy and should be blocked is also a lobbyist for three companies that stand to benefit financially if the deal dies. David Goodfriend, who represents the Communications Workers of America’s NewsGuild in proceedings before the US Federal Communications Commission, has been arguing against the Standard General-Tegna tie-up for months, saying that the deal would wreck local journalism and hurt free speech.
