Billionaire Hedge Fund Mogul George Soros Warns That the US-China ‘Cold War’ Could Escalate Into a ‘Hot One’ (CCN)
Billionaire hedge funder George Soros has warned that the ‘cold war’ consuming the United States and China could get ugly. Speaking in Davos, Switzerland on the sidelines of the World Economic Forum (WEF), the chairman of hedge fund Soros Fund Management said things could get nasty as the world’s two biggest economies stay locked in a trade war, according to CNBC: The reality is that we are in a cold war that threatens to turn into a hot one.
How to End the Government Shutdown: Stop Paying Congress, Ackman Says (Bloomberg)
Hedge fund billionaire Bill Ackman made a rare social-media appearance late on Thursday, tweeting that government shutdowns would not occur if members of Congress went unpaid along with federal government workers. As the partial U.S. government shutdown extended into its 34th day on Friday, the Pershing Square Capital founder noted in a tweet that members of Congress were paid during this period while federal government workers were not.
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Luby’s Beats Back Board Challenge from Bandera Partners (Reuters)
NEW YORK (Reuters) – Casual dining chain Luby’s Inc. (LUB.N) said on Friday that it beat back a long-term shareholder’s bid for four board seats when investors sided with management and elected all nine of the company’s director nominees. Investors supported all of Luby’s directors ending a battle between the company and Bandera Partners, a small New York-based hedge fund that owns roughly 10 percent of Luby’s shares and demanded more accountability and oversight by the board.
Hedge Fund Canyon Partners Readies War Chest for the Right Market Moment (Bloomberg)
Canyon Partners’ top executive says the hedge fund has a large cash position waiting on the sidelines, ready to be put to work after a sell-off.
Nestle Chairman Defends Long-term Strategy in Face of Shareholder Activist (Reuters)
DAVOS, Switzerland (Reuters) – Nestle SA (NESN.S) chairman Paul Bulcke said on Friday he would not pursue short-term efforts at the expense of long-term success, in the face of scrutiny from shareholder activists who know how to “pressure-point you and tease.” Hedge fund Third Point LLC, run by shareholder activist Daniel Loeb, took a $3 billion stake in Nestle in 2017, and has said that the maker of KitKat bars and Perrier water could double its earnings per share by 2022 if it splits up its businesses.
Creditors: Eddie Lampert Reaped Billions but Left Sears Insolvent (The Wall Street Journal)
Sears’s creditors outline how the billionaire’s hedge fund profited from stock buybacks, spinoffs and interest charges. Sears Holdings Corp. Chairman Edward Lampert and his hedge fund used stock buybacks, spinoffs and dividends to rake in billions while stripping the company of its best assets, according to creditors.
December Drags Nordic Fixed-Income HFs Into Negative Territory (HedgeNordic.com)
Stockholm (HedgeNordic) – The group of Nordic fixed-income hedge funds reported their third consecutive month of negative performance in December, erasing all of their gains for 2018. The NHX Fixed Income was down 0.6 percent last month (97 percent reported), and logged a negative 0.4 percent return for 2018. The year was the second-worst year on record for Nordic fixed-income hedge funds, yet, the group ended last year as the best-performing category in the NHX.
Large Holder of CSX Stock Sells $126 Million of Shares (Barron’s)
Mantle Ridge, a hedge fund that is a large shareholder of railroad CSX (ticker: CSX), sold $125.5 million of the stock this week. The fund disclosed in a form it filed to the Securities and Exchange Commission Friday that it sold 1.93 million CSX shares on Wednesday at an average per-share price of $65.01. Mantle Ridge now has overall ownership of 40.8 million CSX shares.
Martoma Asks Justices To Flip 2nd Circ. On Insider Trading (Law360)
Law360 (January 24, 2019, 10:19 PM EST) — Former SAC Capital Advisors LP portfolio manager Mathew Martoma urged the U.S. Supreme Court on Thursday to reverse the Second Circuit on his insider trading conviction, saying its ruling upholding his…
Insider Trading Going Unpunished in Zimbabwe (Bulawayo24.com)
Insider trading offences in Zimbabwe are going unpunished as the law does not provide enough measures for the Securities and Exchange Commission of Zimbabwe to undertake thorough investigations into reported cases. Under the Securities & Exchange Act (Chapter 24:25), the use of privileged information to make stock market decisions is a criminal offence, but no convictions has ever been made so far. Speaking to Business Times, the CEO of the Securities and Exchange Commission, Tafadzwa Chinamo, said amendments of the Securities and Exchange Act will address the loopholes in insider trading which have been widened due to the use of technology on the stock market.
Thursday’s Insider Report: CEO Invests Over $170,000 in This Stock Nearing Oversold Levels (TheGlobeandMail.com)
Featured below are companies that have experienced recent insider trading activity in the public market through their direct and indirect ownerships, including accounts they have control or direction over. The list features insider transaction activity; it does not convey total ownership information as an insider may hold numerous accounts. Keep in mind, when looking at transaction activities by insiders, purchasing activity may reflect perceived value in a security. Selling activity may or may not be related to a stock’s valuation; perhaps an insider needs to raise money for personal reasons. An insider’s total holdings should be considered because a sale may, in context, be insignificant if this person has a large remaining position in the company.
Insider Trading Blues for Corporate Chiefs (EconomicTimes)
Corporate India’s top bosses are jittery about the new insider trading regulations being implemented by the Securities and Exchange Board of India (SEBI). The market regulator had revamped these regulations to bring several new provisions including the concept of ‘material financial relationships’. Under this, company insiders will have to disclose details of all people with whom they have significant financial relationships. These insiders are not just required to reveal their own sens…
