Crispin Odey: the Fallen Star Hedge Fund Manager (Reuters)
Amid the sterling plunges that followed Britain’s budget debacle in the autumn, Crispin Odey told Reuters that if he admitted to a sterling short he would be dubbed “the enemy of the people”. “I love the people. I just can’t put them in my portfolio,” he quipped. Now Odey and his long standing hedge fund have been abandoned by the people working in the City where he made his name, following allegations of sexual misconduct against him.
Toscafund Launches Global Equity Fund (Hedge Week)
Toscafund, a London-headquartered specialist asset manager, has launched the Tosca Market Thinking Fund, which the company describes as “an innovative, unconstrained global equity fund” developed by Mark Tinker, CIO Toscafund Hong Kong. Structured as a combination of a global factor fund (40%) and a global thematic fund (60%), rather than the traditional country and sector approach, the strategy removes stock specific risk by utilising large and liquid ETFs to create a conviction based portfolio, according to Toscafund.
Billionaire Bill Ackman Has Made a Fortune on These 3 Investments Over the Last 14 Years (The Motley Fool)
Bill Ackman‘s fund Pershing Square Capital Management has routinely beaten the market since it was founded in 2004. The billionaire hedge fund investor Bill Ackman has been quite successful throughout his career. Since Ackman launched his main fund, Pershing Square Capital Management, in 2004, Pershing has generated a roughly 17% annualized return versus 10.2% for the broader benchmark S&P 500 index. The impressive results and Ackman’s superb career have been made possible by several big investment ideas over the last 14 years that made Ackman and Pershing a fortune. Let’s take a look at the top three.
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Republican Donor Invested in UK Firm Owned by Tory Peer Close to Boris Johnson (The Guardian)
A billionaire US hedge fund executive and major donor to US Republican candidates invested £1m in a British company owned by a Conservative peer who was close at the time to the then prime minister, Boris Johnson. Kenneth Griffin, the founder of Citadel, one of the largest hedge funds in the world, made the personal investment in 2020 in a company set up by Lord Howard of Rising, a Conservative peer whose Westminster mansion served as Johnson’s leadership campaign “nerve centre” a year earlier.
Seat On Paul Singer’s Private Jet No Reason To Assume Supreme Court Justice Couldn’t Be Impartial Vis-à-Vis Paul Singer (Deal Breaker)
Justice Samuel Alito didn’t want ProPublica to control the narrative on the tale of his ethical conduct like the publication did with its revelations about Clarence Thomas. So when ProPublica asked him for comment on an upcoming story, he decided to get out ahead of it, dropping over a thousand words in the Wall Street Journal defending his recusals and financial disclosures. And by “get ahead of it,” we mean he openly confessed the most egregious allegation, admitted that his personal conflicts process is so negligent that he likely commits even more ethical breaches, and… maybe confirmed that he was the source of the Dobbs leak.
