Ray Dalio Sees India’s Growth Rate at 7% Over Next 10 Yrs (Fortune India)
Bridgewater Associates founder says India successfully landing Chandrayaan-3 on the moon is “another one of many straws in the wind showing its ascendence”. Billionaire investor and hedge fund manager Ray Dalio has projected India to score a growth rate of about 7% over the next 10 years. Congratulating India on the successful lunar mission, Dalio says India successfully landing its Chandrayaan-3 spacecraft on the moon is “another one of many straws in the wind showing its ascendence”.
Soros-Backed Company Boosts Stake in Polish Newspaper Publisher (Bloomberg)
A company backed by George Soros’s fund will boost its ownership of a leading Polish newspaper publisher to a controlling stake as the country heads into a parliamentary election. Amsterdam-based Pluralis BV, whose shareholders include Soros Economic Development Fund, bought an additional 20% stake in Gremi Media SA from Warsaw-listed KCI giving it 57% ownership of the company, KCI said in a regulatory filing on Friday, without revealing the price.
Scandal Has Hedge Fund Titan Crispin Odey Stepping Back From British Finance (The Messenger)
In the wake of sexual misconduct allegations, the former billionaire is fast disappearing from a scene he once epitomized. Crispin Odey is running out of things to do, and places to do them. The British hedge fund manager who was forced out of his hedge fund Odey Asset Management in the wake of multiple sexual misconduct allegations has now resigned from the board of three family office firms that manage the assets of his adult children. Meanwhile, his former firm is relocating from its famously plush Mayfair townhouse headquarters to a London co-working space, according to reports from Bloomberg.
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Ex-Alameda Engineer Shares SBF’s ‘Grand Plan’ Including ‘Building A Vaccine Factory’ And ‘Iterated Embryo Selection’ (IBTimes.com)
Sam Bankman-Fried (SBF), once regarded as the “golden boy” of crypto and co-founder of the now-bankrupt crypto empire FTX, is not solely focused on cryptocurrency or decentralization, as a former engineer of Alameda Research, the crypto hedge fund SBF also co-founded, claimed that he had a “grand plan,” including “building a vaccine factory” and creating a technology capable of “iterated embryo selection.”
AIMA welcomes SEC’s Private Fund Adviser Rule Revisions, Despite Ongoing Concerns (Hedge Week)
AIMA has broadly welcomed the revised Private Funds Adviser rules and amendments adopted by the US Securities and Exchange Commission (SEC) this week, but has expressed ongoing concerns about some of the changes in the final text. According to a statement issued by AIMA CEO Jack Inglis: “AIMA is reviewing these revisions and will seek clarification from the SEC on certain aspects”. The statement reads: “AIMA welcomes many of the Commission’s revisions of the original Private Fund Adviser Rule proposal. The February 2022 proposal contained a number of terms that would have stifled innovation, imposed disproportionate burdens on private fund market participants, and hindered the industry’s ability to deliver value to investors in a manner that balances risks and rewards in the ways investors are seeking.
Investors Millstone and Winter build 3.05% stake in Clariant (Reuters)
Investors David Winter and David Millstone have built a 3.05% stake in Clariant, filings on Swiss bourse SIX showed on Friday, buying back into the Swiss specialty chemicals group after selling their holding to SABIC in 2018. Winter, of New York, and Millstone, of Aspen, Colorado, purchased 6.3 million registered shares in Clariant accounting for some 1.8979% of the voting rights and obtained further voting rights by entering into equity swaps through their Standard Latitude Master Fund, the SIX filings showed.
Rithm Capital: Caught In A Sculptor Bidding War With Bill Ackman (Rating Downgrade) (Seeking Alpha)
Rithm Capital (NYSE:RITM) is a $4.6B market cap mREIT with many different lines of business ranging from mortgage servicing rights (MSRs) to direct ownership of single family rental properties. This midcap has been elevated to national news as it has gotten into a bidding war with a consortium of hedge fund managers including Bill Ackman, Marc Lasry and Boaz Weinstein over an asset manager called Sculptor Capital (SCU). RITM has already inked the acquisition with an agreement to buy SCU for $11.15 per share. The hedge fund consortium is trying to overturn that agreement by offering a higher $12.00 per share to buy SCU.
Three Arrows Capital Faces Penalty from Dubai’s Virtual Asset Regulatory Authority (Financial Express)
Kyle Davies and Su Zhu, founders, Three Arrows Capital (3AC), a collapsed digital asset hedge fund, are expected to be facing a fine issued by Dubai’s crypto regulator over the OPNX exchange, stated Cointelegraph. Sources revealed that on August 16, 2023, Dubai’s Virtual Asset Regulatory Authority (VARA) created a notice of fines for the OPNX exchange. The regulator is expected to have issued a fine of about 10 million United Arab Emirates dirhams (around $2.7 million) for violations of its market regulations. It is believed that the fine remains unpaid, Cointelegraph added.
Friday 8/25 Insider Buying Report: SAVA, PENN (Nasdaq.com)
At, a filing with the SEC revealed that on Wednesday, Director Sanford Robertson purchased 30,000 shares of SAVA, for a cost of $17.45 each, for a total investment of $523,500. Robertson was up about 11.1% on the buy at the high point of today’s trading session, with SAVA trading as high as $19.39 at last check today. Cassava Sciences is trading off about 1% on the day Friday. This buy marks the first one filed by Robertson in the past year. And at PENN Entertainment, there was insider buying on Wednesday, by David A. Handler who bought 20,000 shares for a cost of $22.65 each, for a total investment of $453,070. This purchase marks the first one filed by Handler in the past twelve months. PENN Entertainment is trading up about 1.6% on the day Friday. Handler was up about 4.6% on the purchase at the high point of today’s trading session, with PENN trading as high as $23.70 in trading on Friday.
$16M Bet On This Biotechnology Stock? Check Out These 3 Stocks Insiders Are Buying (Benzinga)
AN2 Therapeutics: The Trade: AN2 Therapeutics, Inc. (ANTX) 10% owner Rajeev Shah acquired a total of 1,777,778 shares at an average price of $9.00. To acquire these shares, it cost around $16 million. Mercury Systems: The Trade: Mercury Systems, Inc. (MRCY) 10% owner Jana Partners LLC acquired a total of 50,000 shares an average price of $38.05. To acquire these shares, it cost around $1.9 million. The company’s other Directors also purchased the company’s shares.
