Taylor Swift, Warren Buffett, and Elon Musk: An Elite Investor isn’t Shy of Name-Dropping to Promote a Niche Type of Fund (Business Insider)
Discounted closed-end funds occupy a fairly obscure corner of the finance world. Boaz Weinstein, a hedge fund manager who specializes in this niche type of mutual fund, has been raising their profile by linking them to the likes of Taylor Swift and Warren Buffett. “Did you know that @taylorswift13 invests in discounted closed end funds?” the Saba Capital Management founder tweeted in mid-May. “You think I’m kidding, but her father Scott told me so!”
UK Hedge Fund Defends Itself from Sexual Assault Claims (The Business Times)
A BRITISH hedge fund defended itself on Friday (Jun 9) after the Financial Times published allegations of sexual assault by founder Crispin Odey, who denies the claims, according to the newspaper. Odey Asset Management (OAM) said in a statement that it has always treated “such allegations extremely seriously” and that it has robust procedures in place to ensure that the firm “complies with all of its legal and regulatory obligations”.
Their Crypto Company Collapsed. They Went to Bali (The New York Times)
The implosion of Three Arrows Capital, a cryptocurrency hedge fund, devastated the industry. Its two founders spent the next year surfing, meditating and traveling the world. Not long after his cryptocurrency hedge fund collapsed last year, spawning a market meltdown that devastated the industry, Kyle Davies got on a plane and left his troubles behind. He flew to Bali. As his company was liquidated and law enforcement authorities opened investigations on two continents, Mr. Davies spent his days painting in cafes and reading Hemingway on the beach.
Friday 6/9 Insider Buying Report: MODG, ACIW (Nasdaq.com)
At Topgolf Callaway Brands, a filing with the SEC revealed that on Thursday, Director Adebayo O. Ogunlesi purchased 100,000 shares of MODG, at a cost of $19.45 each, for a total investment of $1.94M. Ogunlesi was up about 3.4% on the buy at the high point of today’s trading session, with MODG trading as high as $20.11 at last check today. Topgolf Callaway Brands is trading up about 3.6% on the day Friday. And on Wednesday, CEO Thomas W. Warsop III purchased $1.02M worth of ACI Worldwide, purchasing 43,000 shares at a cost of $23.63 a piece. ACI Worldwide is trading up about 2.3% on the day Friday.
Over $72M Bet On This Biotechnology Stock? Check Out These 4 Penny Stocks Insiders Are Aggressively Buying (Benzinga)
Lexicon Pharmaceuticals: The Trade: Lexicon Pharmaceuticals, Inc. (LXRX) 10% owner Invus Advisors Llc acquired a total 27,775,050 shares an average price of $2.60. To acquire these shares, it cost around $72.22 million. ImmunityBio: The Trade: ImmunityBio, Inc. (IBRX) Director Michael Blaszyk acquired a total of 71,915 shares at an average price of $2.75. To acquire these shares, it cost around $198.02 thousand. The company’s other Directors also purchased the company’s shares.
