Exclusive: Arex Capital Pushes Enhabit to Consider Company Sale – Letter (Reuters)
Hedge fund Arex Capital Management is urging Enhabit (EHAB.N) to put itself up for sale and wants the home health and hospice provider to begin a strategic review to help reverse a 50% slide in its share price, according to a letter seen by Reuters. Enhabit is already interviewing two board directors proposed by Arex, which owns a 4.5% stake in the company, but the hedge fund wants more drastic action as the share price has been cut nearly in half since it went public a year ago.
Odey Unraveling: The Readout With Katherine Griffiths (Bloomberg)
It has been a grim time for the reputation of business. Over the course of a few days, JPMorgan has agreed to settle a lawsuit over some of its alleged ties to dead sex offender Jeffrey Epstein, financier Crispin Odey has been accused of assaulting multiple women and the UK’s biggest business lobby is fighting for its future after its own allegations of misconduct. Today Odey’s firm had to stop investors from rushing out of the door in the wake of the allegations, while the Confederation of British Industry got a dusting up by Parliament.
Unraveling the Truth About Market-Neutral Equity Strategies (Hedge Nordic)
Stockholm (HedgeNordic) – In the dynamic world of investing, where volatility and uncertainty are ever-present, strategies that can deliver consistent returns while mitigating market risk remain a top priority for investors. Among the approaches that have emerged, market-neutral equity strategies have gained recognition for their ability to navigate turbulent markets and potentially enhance portfolio performance.
Photo by Austin Distel on Unsplash
George Soros’s millennial son used to worry he’d be seen as a ‘Deadbeat Lazy Trust-Fund Kid.’ Now He’s in Charge of a $25 Billion Hedge Fund Empire (Fortune)
In a Succession-like turn of events, George Soros just ceded control of his empire to his 37-year-old son Alex, surprising those who expected his older brother Jonathan to be heir. The billionaire financier, now 92, built a $25 billion investing enterprise and is known for donating extensively to liberal causes through his Open Society Foundations. Soros has five children with two wives, of which Alex is the fourth. People close to the matter long anticipated Jonathan, Soros’s third child, to assume his role, including Jonathan himself. However, Jonathan and his father “didn’t get on on certain points,” the elder Soros himself told the Wall Street Journal, without elaborating. Jonathan left the family investment empire in 2011 to start Athletes Unlimited, which operates women’s athletic leagues.
Cathie Wood Leverages the Rally in Tesla and Nvidia, Picks Up Meta Stock (TipRanks)
Ace hedge fund manager Cathie Wood is leveraging the recent bull run in shares of electric vehicle (EV) maker Tesla (NASDAQ:TSLA) and chip maker Nvidia (NASDAQ:NVDA), making huge profits for the fund. Cathie’s flagship fund, Ark Innovation ETF (ARKK), sold 324,511 shares of Tesla, valued at roughly $80 million, on June 12. Further, the fund manager sold TSLA stock from two other funds, namely, the ARK Autonomous Technology & Robotics ETF (ARKQ) and the ARK Next Generation Internet ETF (ARKW). Cathie sold a total of 393,000 shares of TSLA worth nearly $98 million from all three funds combined.
