Ray Dalio Says Crypto could be a Victim of Its Own Success by Inviting Regulation – and His Comments Follow Tough Words from Watchdogs (Business Insider)
Billionaire hedge fund boss Ray Dalio has said the biggest risk to cryptocurrencies is their own success, which could cause governments to crack down on them to ensure they control the money supply. Talking about cryptocurrencies, Dalio told the Wall Street Journal “Future of Everything Festival” on Tuesday: “Its own biggest risk is its success, because as a storehold of wealth no government wants to have an alternative currency.
Safe Merger for Merkur (Hedge Nordic)
Stockholm (HedgeNordic) – Formuepleje Merkur, the fund of funds managed by Danish asset manager Formuepleje, is in the process of merging into the asset manager’s oldest investment vehicle, Formuepleje Safe. According to a statement, Formuepleje Merkur is set to be merged into the other vehicle because of insufficient assets under management, with the fund of funds overseeing DKK 52 million as of the end of April.
NY Hedge Fund Founder Daniel Kamensky Sentenced to 6 Months in Neiman Marcus Fraud (The Jewish Voice)
Seems like the corrupting power of money has taken yet another toll. On Friday, Audrey Strauss, the United States Attorney for the Southern District of New York, announced that Daniel Kamensky, the founder and former manager of New York-based hedge fund Marble Ridge Capital (“Marble Ridge”), was sentenced in Manhattan federal court to six months in prison for engaging in fraud and extortion to pressure a rival bidder to abandon its higher bid for assets in connection with Neiman Marcus’s bankruptcy proceedings so that Marble Ridge could obtain those assets for a lower price. In February of 2021, Kamensky pled guilty before United States District Judge Denise L. Cote, who imposed the sentence on Friday.
The TREASURER of SEI Investments Company (NASDAQ: SEIC) is Selling Shares (Analyst Ratings)
Yesterday, the TREASURER of SEI Investments Company (SEIC), Kathy Heilig, sold shares of SEIC for $820.7K. Following Kathy Heilig’s last SEIC Sell transaction on November 25, 2020, the stock climbed by 8.0%. In addition to Kathy Heilig, 2 other SEIC executives reported Sell trades in the last month. Based on SEI Investments Company’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $456 million and quarterly net profit of $129 million.
Cigna Corp (CI) President & CEO David Cordani Sold $16.2 million of Shares (Guru Focus)
President & CEO of Cigna Corp., David Cordani, sold 62,123 shares of CI on 05/07/2021 at an average price of $260.83 a share. The total sale was $16.2 million.
PC Jeweller Case: Sebi Fines, Bars 4 Individuals, 1 Entity from Securities Mkt (Economic Times)
NEW DELHI: Sebi on Tuesday imposed a total fine of Rs 1 crore on four individuals and an entity as well as barred them from the securities market for one year in a case of alleged insider trading activities in the shares of PC Jeweller NSE 0.00 %. Besides, they have been restrained from dealing with the securities of PC Jeweller, directly or indirectly, for two years.
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