Hedge Fund Manager Einhorn Explains Why He Lost More Than 30% Last Year: ‘Nothing Went Right’ (CNBC)
Reflecting on his worst year ever, all-star hedge fund manager David Einhorn explained in a letter to investors why his hedge funds lost more than a third of its value last year. Einhorn said the losses have forced him to reopen the funds for new investments, a move not seen since 2014. His hedge fund firm, Greenlight Capital, lost 11.4 percent in the fourth quarter, bringing its yearly decline to 34.2 percent, the worst performance since Einhorn started the firm in 1996, according to the letter obtained by CNBC’s Scott Wapner.
Kerrisdale Says Qualcomm’s Stock Could Shrink by Half: Report (Reuters)
BOSTON (Reuters) – Activist investor Sahm Adrangi, who cemented his reputation with successful bets against Chinese internet companies, said that he has taken a short position against Qualcomm Inc (QCOM.O), arguing the chip supplier’s stock price could shrink by half. Adrangi’s hedge fund Kerrisdale Capital published a research paper that suggests Qualcomm’s profits could be at risk as the company faces lawsuits, especially one in the United States.
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Hedge Fund Manager John Paulson Praises Trump Accomplishments, Says He Would Re-elect Him (CNBC)
Hedge fund manager John Paulson believes President Donald Trump has achieved much since taking office and remains a supporter of the Republican president. “Aside from the messaging, I think he’s accomplished a great deal and I’m supportive of him,” Paulson said in an “According to Sources” podcast. “Generally, I’ve been pretty supportive of the policies that he’s pursued and, you know, I’d be supportive of him again if he did run for president.”
Bridgewater’s CIO Warns the Markets Could be Worse Than Policy Makers Expect (Bloomberg)
Greg Jensen, co-chief investment officer of Bridgewater Associates, said he sees a more negative outlook for growth than the markets and policy makers. “While people have certainly diminished their growth expectations and you’re hearing all about that at Davos, we don’t think they’ve done it enough,” he said in an interview on Bloomberg TV Wednesday from the World Economic Forum. “Earnings expectations particularly in the U.S. are too high, and generally the Fed and other policy makers are still expecting stronger growth than we see.”
Greenlight’s David Einhorn Tells Investors How He Really Feels About Elon Musk (CNBC)
Greenlight Capital is still betting against electric car maker Tesla, and the hedge fund’s manager isn’t mincing words about his opinion of Elon Musk. In a quarterly letter to investors on Tuesday, Greenlight’s David Einhorn called Tesla a “bizarre situation” and called out CEO Musk on his recent run-in with the Securities and Exchange Commission. Musk reached a $20 million settlement last year with the agency over allegations he committed securities fraud when he announced on Twitter that he wanted to take Tesla private and suggested he had “funding secured” for such a transaction. A copy of Einhorn’s letter was obtained by CNBC’s Scott Wapner.
Wednesday 1/23 Insider Buying Report: SASR, GOOD (Nasdaq.com)
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy – they expect to make money. So let’s look at two noteworthy recent insider buys. At Sandy Spring Bancorp (SASR), a filing with the SEC revealed that on Tuesday, Director James J. Maiwurm bought 1,000 shares of SASR, at a cost of $31.69 each, for a total investment of $31,689. So far Maiwurm is in the green, up about 2.2% on their buy based on today’s trading high of $32.39. Sandy Spring Bancorp is trading up about 0.8% on the day Wednesday. This buy marks the first one filed by Maiwurm in the past year.
Insider Activity for the Week Ending January 18, 2019 (The Wall Street Journal)
Here’s a rundown of insider trading activity for the most recent week. An insider is any officer, director or owner of 10% or more of a class of the company’s securities. The table shows purchases and sales which must be reported to the SEC and other regulators within 2 business days following the execution date of the trade, includes both open-market and private transactions involving direct and indirect holdings. Excludes stock valued at less than $2 per share, acquisitions through options and companies being acquired. Included are purchases, sales and stock registered for sale for individual officers, companies, and sectors. Source: Thomson Reuters.
A Deep Dive Into The Insider Trading: Nielsen Holdings PLC (NLSN), Hess Corporation (HES) (Financial Mercury)
Looking at top Wall Street opinions, Nielsen Holdings plc (NYSE: NLSN) has recently made its way into the research list of Credit Suisse – signaling that their analyst’s rating adjustment is noteworthy. This stock was Neutral in the eyes of Credit Suisse, as reported on Friday, December 7th, 2018. Another heavy-hitting research note was published by Goldman on Thursday August 23rd, 2018, with this firm upgrading NLSN to an updated rating of Neutral from its previous rating of Sell. In the past six months and three months of trading, shares of Nielsen Holdings plc (NLSN) have moved by -16.94% and -7.97%, respectively.
Whetstone Capital Advisors Trimmed Its Dollar Tree (DLTR) Stake as Stock Price Declined; Caterpillar Del (CAT) Shareholder Oakmont Partners Cut Its Stake as Shares Declined (YomiBlog.com)
Oakmont Partners LLC decreased its stake in Caterpillar Inc Del (CAT) by 86.4% based on its latest 2018Q3 regulatory filing with the SEC. Oakmont Partners Llc sold 8,459 shares as the company’s stock declined 13.14% with the market. The institutional investor held 1,331 shares of the capital goods company at the end of 2018Q3, valued at $203,000, down from 9,790 at the end of the previous reported quarter. Oakmont Partners Llc who had been investing in Caterpillar Inc Del for a number of months, seems to be less bullish one the $77.19 billion market cap company. The stock decreased 1.09% or $1.44 during the last trading session, reaching $130.8.
Heavy Insider Trading At Vereit, Inc. (VER) (GVTimes.com)
VEREIT, Inc. (NYSE:VER) is now being followed by Robert W. Baird, as they initiated the stock at Outperform on October 23. Analysts at Evercore ISI, shed their positive views on May 21 by lowering it fromOutperform to In-line. The stock won favor of JMP Securities analysts who expressed their confidence in it using an upgrade from Mkt Perform to Mkt Outperform on January 09. Mizuho, released new analyst coverage on October 14, calling the stock is Neutral.
Shock Insider Trading Case Forces Thai Tycoon to Step Down (TheStreet.com)
Insider trading is widespread in Asia, and almost always goes unpunished. Tycoons are revered. And tradition dictates a high level of respect for the elderly. So it’s with some surprise that Thailand is watching the downfall of one of its richest, oldest entrepreneurs. Securities regulators have come down hard on the man who runs Thailand’s second-biggest airline, and largest hospital operator, with both stocks jolting lower. Former surgeon Prasert Prasarttong-osoth, 85, is Thailand’s eighth-richest man, according to the Forbes ranking, with a net worth of $3.1 billion. But he’s now banned from holding any position at a public company in Thailand.
