Engine No. 1 Takes Climate Fight to Other Big Oil Companies After Underdog Win at Exxon (CNBC)
Activist firm Engine No. 1 after winning three board seats at Exxon is meeting with other oil companies in its climate change fight, a source familiar told CNBC’s David Faber. The hedge fund has spoken with executives of several different oil corporations including Chevron, the source familiar told CNBC. Engine No. 1 may not necessarily target Chevron in its next challenge, or target any company at all, according to the source.
‘We’re rapidly close to the insane levels of 2000,’ says a hedge Fund Chief that Oversees $1.7 Billion. Here are 3 Ways He’s Positioned in a ‘Wildly Overvalued’ Market — and 3 Crypto Protocols He’s Betting On (Business Insider)
Mark Yusko is the CEO and CIO of hedge fund Morgan Creek Capital. As asset prices surge, Yusko shares with Insider where he’s investing in this ‘wildly overvalued’ market. He lays out how the altcoin bull run is influencing his 5-year bitcoin price target of $250,000. “I absolutely believe that the markets are wildly overvalued and it’s called ‘money illusion’,” hedge fund chief Mark Yusko said. For months, Yusko has been sounding the alarm over the overvaluation of stocks in the US market.
Renaissance Executives Agree to Pay Around $7 Billion to Settle Tax Dispute with IRS – Source (Reuters)
(Reuters) -Executives of hedge fund Renaissance Technologies LLC could pay as much as $7 billion to U.S. tax authorities after agreeing to settle a dispute over whether they improperly reduced their tax liability from trading profits, according to a letter reviewed by Reuters and a source familiar with the matter. James Simons, the founder of one of the world’s most successful quantitative hedge funds and a major Democrat donor, will make an additional settlement payment of $670 million to the Internal Revenue Service, according to the letter from Renaissance’s Chief Executive Peter Brown sent on Thursday to investors.
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August Interrupts Glenview’s Strong Year (Institutional Investor)
Why Larry Robbins’ high-flying hedge fund was down last month. Larry Robbins’ Glenview Capital suffered a brief setback in August.The health-care-heavy hedge fund lost 3.2 percent last month.Even so, it remains up 28.7 percent for the year, way ahead of the S&P 500, which has gained 20.4 percent through August. Glenview declined to comment.
Hedge Fund Mogul Leon Black Not Filing Counterclaim Against Former Russian Model Who Accused Him of Raping Her (The Jewish Voice)
Seems like hedge fund mogul Leon Black will be heading to court to defend himself against rape accusations made against him by a former Russian model, according to court documents. For those not in the know, Black is the founder of Apollo Global Management. The Post reported that in July, Black had initially filed a preliminary statement, answer and countersuit against Guzel Ganieva. The statement said that he had “irrefutable documentary evidence” the model was guilty of defamation when she alleged that Black raped her.
