David Tepper: Fed Is Done Supporting Stock Prices, So Cash Is ‘Not So Bad’ As An Investment Now (CNBC)
Hedge fund titan David Tepper said Thursday the Federal Reserve is sending the market a message, and it’s not a good one. A day after the Fed raised interest rates for the fourth time this year, the influential investor made the following points in an email to Joe Kernen and CNBC’s Squawk Box: “1. Powell basically told you the Fed put is dead. 2. Everyone is tight. Chinese money growth plummeting. ECB cutting the last of QE. And Fed still in tightening mode. 3. The net biggest issuance of Treasuries and worldwide fixed income is coming next year. Something is going to get crowded out. Bonds stocks etc. 4. Oh and there is this trade war question. I think we should be having a fight with China on different issues. But it is not conducive to confidence. Freezing some worldwide activity. 5. Cash is not so bad.”
Soros Fund Is Cutting Back on the Bets That Made Its Founder a Billionaire (Bloomberg)
Soros Fund Management has reduced most of its macro wagers, moving away from the strategy that made George Soros a billionaire — and inspired a generation of traders who looked to profit from big moves in currency, bond and commodity markets. Dawn Fitzpatrick, who joined New York-based Soros Fund Management as chief investment officer in early 2017, has been cutting the strategy over the past year, citing fewer opportunities.
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Hedge Fund Pain Compounded as Surprise Tax Hit Awaits Investors (BloombergTax.com)
A surprise tax blow could be looming for investors in hedge funds such as Point72 Asset Management. President Donald Trump’s tax law curbs the coveted deductions that most businesses were allowed to take for the interest they pay on loans. During the tax overhaul debate, private equity firms were the fiercest critics of the provision, arguing it would change the calculus for their deals that often rely on debt.
How Activist Investor Paul Singer Made His Billions (Bloomberg)
Aggressive, tenacious and litigious Paul Singer may be the most feared investor in the world by hedge fund rivals, companies and even countries. This is how he made billions through activist investing. (Video by Tom Gibson) (Source: Bloomberg)
Insider Buying: Lixte Biotechnology Holdings Inc (LIXT) Director Buys 100,000 Shares of Stock (FairFieldCurrent.com)
Lixte Biotechnology Holdings Inc (OTCMKTS:LIXT) Director Stephen J. Forman bought 100,000 shares of the company’s stock in a transaction on Friday, December 7th. The stock was bought at an average price of $0.50 per share, for a total transaction of $50,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission.
Insider Selling: Acorda Therapeutics Inc (ACOR) Major Shareholder Sells $1,002,701.97 in Stock (ModernReaders.com)
Acorda Therapeutics Inc (NASDAQ:ACOR) major shareholder Scopia Capital Management Lp sold 61,857 shares of the company’s stock in a transaction that occurred on Friday, December 14th. The shares were sold at an average price of $16.21, for a total value of $1,002,701.97. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Insider Buying: Achaogen Inc (AKAO) Major Shareholder Purchases $151,530.75 in Stock (MareaInformativa.com)
Achaogen Inc (NASDAQ:AKAO) major shareholder Robert W. Duggan bought 80,175 shares of the firm’s stock in a transaction on Friday, November 23rd. The stock was purchased at an average price of $1.89 per share, for a total transaction of $151,530.75. Following the completion of the acquisition, the insider now directly owns 8,343,945 shares in the company, valued at $15,770,056.05. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.
Insider Selling: People’s United Financial, Inc. (PBCT) VP Sells 32,163 Shares of Stock (PressOracle.com)
People’s United Financial, Inc. (NASDAQ:PBCT) VP David K. Norton sold 32,163 shares of the firm’s stock in a transaction that occurred on Wednesday, December 19th. The stock was sold at an average price of $14.89, for a total transaction of $478,907.07. The sale was disclosed in a document filed with the SEC.
Insider Buying: HighPoint Resources Corp (HPR) COO Acquires 30,000 Shares of Stock (ModernReaders.com)
HighPoint Resources Corp (NYSE:HPR) COO Paul W. Geiger III purchased 30,000 shares of the company’s stock in a transaction that occurred on Friday, December 7th. The shares were purchased at an average cost of $3.13 per share, with a total value of $93,900.00. The purchase was disclosed in a filing with the Securities & Exchange Commission.
