New York Hedge Fund Takes Short Positions Against Irish Firms Kingspan and CRH (BusinessPost.ie)
Israel ‘Izzy’ Englander, the New York-based hedge fund manager, has been shorting the shares of a number of Irish companies including CRH and Kingspan in recent months, new Central Bank filings show. Englander’s hedge fund, Millennium International Management, recently declared two substantial shorts on the two companies, the filings reveal. The Kingspan short was against 0.5 per cent of the company’s shares, the size of which was around €65 million at the company’s current share price of just under €72.
Finance Icons Och and Dalio Stage Shakespearean Bids to Reclaim Hedge Fund Empires – Aaron Brown (BizNews.com)
In the world of finance, where power is usually ceded discreetly, two legendary hedge fund managers, Daniel Och and Ray Dalio, are embarking on a real-life Shakespearean drama in 2023. Unlike the traditional handover, they’re battling to reclaim their empires. Och backs a bid to reclaim his hedge fund throne, while Dalio seeks a return to Bridgewater’s helm. This saga reflects a throwback to the era of charismatic leaders in finance, and it begs the question: will more such battles unfold as aging titans approach retirement age? The legacy of hedge fund royalty hangs in the balance.
Millionaire Hedge Fund CEO Says He Mainly Hires People with no Background in Finance and Once Hiked a Worker’s Pay So He could Call Him at 1 a.m. (Business Insider)
The CEO of New York-based investment management firm Renaissance Technologies has said that when it came to hiring, he almost exclusively employed people with no background in finance. Peter Brown was speaking on an episode of the podcast “Exchanges at Goldman Sachs.” He said he found it easier to teach “mathematicians about the markets than it is to teach mathematics and programming to people who know about the markets.”
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Hedge Fund Farallon Leads Funding Round Valuing HiBob at $2.7 Billion (Bloomberg)
Farallon Capital Management led a funding round for human resources company HiBob at a valuation of $2.66 billion — compared with the $2.45 billion the company was priced at last year, according to people familiar with the matter. As part of the Series D deal, Farallon invested $100 million, while Alpha Wave Global and existing investors kicked in an additional $50 million, said the people, who asked not to be identified because the information is private.
Billionaire Ray Dalio Denies Report He will Return to Bridgewater (New York Post)
Billionaire Ray Dalio is denying a report he could return to Bridgewater, the giant hedge fund he left less than a year ago — a move that the report claims could trigger mass resignations across the firm. On Friday, the New York Times reported that less than a year after his departure, Dalio was weighing a return to Bridgewater to start a new fund within the giant investment firm as a way to bolster revenue.
Ken Griffin Calls DeSantis’s Fight With Disney ‘Pointless’ (Bloomberg)
Billionaire Ken Griffin criticized Ron DeSantis’s ongoing feud with Walt Disney Co., calling the Florida governor’s battle with a major employer in his state “pointless.” “It doesn’t reflect well on the ethos of Florida,” Griffin said in an interview with CNBC scheduled to air late Monday. DeSantis needs to “make it clear to the entire United States of America, Florida is open to companies that want to create jobs.”
FTX Sues Parents of Sam Bankman-Fried, Seeks Millions in Transferred Funds (The Street)
FTX, the collapsed cryptocurrency exchange, is suing the parents of its disgraced former CEO, Sam Bankman-Fried, as it seeks to recover “millions” in fraudulently transferred funds. In a court filing published late Monday, officials for the now-bankrupt FTX estate said they were seeking the return of property or payments made to either Barbara Fried or Joseph Bankman, the parents of Sam Bankman-Fried. The estate is also seeking punitive damages from what it called ” “conscious, willful, wanton, and malicious conduct.”
Life Sciences Funds Suffer Losses Last Month (Institutional Investor)
Casdin Capital led the way downward in August in what was another mixed month for the hedge fund group. Several biopharma and life sciences hedge funds suffered sharp losses in August after the shares of one of their top holdings tanked following bad news. It’s business as usual for the volatile group, which is used to huge one day surges or collapses in their investments after a company makes a significant announcement related to a clinical trial or financial results.
Monday 9/18 Insider Buying Report: TKO, GABC (Nasdaq.com)
On Thursday, Tko Group Holdings’ Director, Jonathan Kraft, made a $507,650 buy of TKO, purchasing 5,000 shares at a cost of $101.53 a piece. Tko Group Holdings is trading up about 3.2% on the day Monday. This buy marks the first one filed by Kraft in the past year. And at German American Bancorp, there was insider buying on Friday, by Thomas W. Seger who purchased 6,000 shares for a cost of $28.45 each, for a trade totaling $170,700. Before this latest buy, Seger bought GABC on 25 other occasions during the past year, for a total cost of $2.33M at an average of $28.28 per share. German American Bancorp is trading down about 2.2% on the day Monday.
$1M Bet On This Financial Services Stock? Check Out These 3 Stocks Insiders Are Buying (Benzinga)
Prospect Capital: The Trade: Prospect Capital Corporation (PSEC) CEO John F Barry acquired a total of 166,160 shares an average price of $5.99. To acquire these shares, it cost around $1 million. Applied Optoelectronics: The Trade: Applied Optoelectronics, Inc. (AAOI) President and CEO Chih-Hsiang (Thompson) Lin acquired a total of 15,000 shares at an average price of $9.79. To acquire these shares, it cost around $146,901.
