Dan Kamensky, the Hedge Fund Manager Who Said ‘Maybe I Should go to Jail,’ is Sentenced to 6 Months in Prison (Business Insider)
After nine months, Dan Kamensky‘s prediction came true. The founder of distress hedge fund Marble Ridge Capital received a prison sentence of six months on Friday after being arrested for securities fraud, wire fraud, extortion and bribery, and obstruction of justice in early September. “I feel quite confident in judging the defendant as a good man, but one who lost his moorings,” the judge said. She also imposed a $55,000 fine and six months of home confinement.
Credit Suisse Names New Europe Equities Head After Archegos (Bloomberg)
Credit Suisse Group AG named Neil Hosie head of equities for Europe, Middle East and Africa, replacing Ryan Nelson who stepped down after the bank lost $5.5 billion in the collapse of Archegos Capital Management. Hosie will remain as head of equities for Asia Pacific, according to people familiar with the decision who asked not to be identified since the matter is private. He will relocate to London in due course, the people said.
U.S. TV Firm Tegna Defeats Hedge Fund Standard General in Proxy Vote (Reuters)
BOSTON (Reuters) – Tegna shareholders re-elected all 12 directors to the U.S. regional TV station operator’s board, handing victory to management and rebuffing hedge fund Standard General after it tried for a second time to add new directors. Preliminary vote counts showed that all 12 directors were re-elected, the company said in a statement on Friday.
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Avoid Crypto and ‘Meme Stocks’ and Buy These Instead, Hedge Fund Manager Says (CNBC)
Hedge fund manager David Neuhauser has warned against blindly following investment trends, and instead named a number of stocks that provide “solid value in an otherwise bubbly equity and bond market.” Neuhauser, CIO at alternative asset management firm Livermore Partners, warned that investors buying into the “Robinhood phenomena” often lacked a well-rounded approach to trading, overlooking fundamentals.
Tiger Global Management Leads USD83m Series D VAST Data Funding Round as Company Valuation Triples in One Year to USD3.7bn (Hedge Week)
VAST Data, the storage software company breaking decades-old tradeoffs, has secured USD83 million in a Series D funding, led by Tiger Global Management, at a post-money valuation of USD3.7 billion – a tripling of the company’s valuation since April 2020. The round features strong participation from NVIDIA and several other existing investors, and is driven by VAST’s unique combination of rapid customer adoption and positive cash flow. The funds add to VAST’s Series B and Series C investments to create a balance sheet that is USD230 million strong, positioning VAST as the next great independent infrastructure company that is poised to disrupt and transform cloud and AI data centres globally.
Veteran Wall Street Hedge Fund Manager Kris Crudo Sets Up His Own Family Office. (Digital Journal)
Kris Crudo, the founder of Lankershim Taft, a California-based Hedge Fund operation is best known in Wall Street insider circles as the fund manager who accurately traded the rise and fall of Cynk Technology Corp. A little-known Panamanian technology company whose stock price rose by 24,417% in less than four weeks in 2014. As one of his then peers (who wished to remain anonymous) would say, Kris’s claim to fame in the street is “Thee” fund manager at SAC Capital who made a fortune on both his Long and Short trade on CYNK, but that’s not new to us, he said.
CFO of World’s Largest Hedge Fund Joins NYDIG to Focus on Bitcoin (Bitcoin Magazine)
Earlier today, NYDIG announced that John Dalby, CFO of Bridgewater Associates, the world’s largest hedge fund, is joining its team and bringing more than two decades of experience in capital markets, asset management and financial services to its bitcoin services. Before joining Bridgewater, Dalby was CFO and COO at D.E. Shaw Renewables Investments, and the CFO of UBS Americas before that.
Tesla Short Seller Stanphyl Capital Is Making a Big Comeback (Institutional Investor)
Shorts on Tesla and ARKK have helped Mark Spiegel’s hedge fund gain almost 20 percent this year. Mark Spiegel’s Stanphyl Capital is coming back from the depths of its Tesla-short-induced misery. This year, the hedge fund is up 19.6 percent through April, bouncing back from a disastrous 2020, when it fell 11.5 percent as Tesla shares skyrocketed.
Friday 5/7 Insider Buying Report: CYCN, WY (Nasdaq.com)
At Cyclerion Therapeutics, a filing with the SEC revealed that on Wednesday, Chief Executive Officer Peter M. Hecht purchased 698,001 shares of CYCN, at a cost of $2.43 each, for a total investment of $1.69M. Hecht was up about 36.0% on the buy at the high point of today’s trading session, with CYCN trading as high as $3.30 in trading on Friday. Cyclerion Therapeutics is trading up about 20.1% on the day Friday. This buy marks the first one filed by Hecht in the past twelve months. And at Weyerhaeuser, there was insider buying on Wednesday, by CFO Nancy S. Loewe who purchased 10,000 shares for a cost of $38.56 each, for a total investment of $385,562. This buy marks the first one filed by Loewe in the past year. Weyerhaeuser is trading up about 1.2% on the day Friday. So far Loewe is in the green, up about 3.1% on their purchase based on today’s trading high of $39.75.
The Company Secretary of Sayona Mining (Other OTC: DMNXF) is Buying Shares (Analyst Ratings)
Yesterday, the Company Secretary of Sayona Mining (DMNXF), Paul Anthony Crawford, bought shares of DMNXF for $261.4K. This recent transaction increases Paul Anthony Crawford’s holding in the company by 6% to a total of $4.34 million. In addition to Paul Anthony Crawford, 2 other DMNXF executives reported Buy trades in the last month.
Cigna Corp (CI) President & CEO David Cordani Sold $10.9 million of Shares (Guru Focus)
President & CEO of Cigna Corp, David Cordani, sold 42,772 shares of CI on 05/04/2021 at an average price of $255.77 a share. The total sale was $10.9 million.
