Millennium Bets $320 Million Against Carlos Slim (Bloomberg)
Millennium Management is shorting the stock of America Movil SAB, the telecommunications giant controlled by Mexican billionaire Carlos Slim. The New York hedge fund founded by Izzy Englander has accumulated about 0.52% of America Movil’s stock, worth about $320 million, betting on further declines in its share price, according to an Aug. 30 regulatory filing with Spanish regulators.
George Soros, Billionaire Modi Critic And Global Investor Who Keeps Hogging Headlines In India (ABPLive.com)
George Soros, 92, the American-Hungarian bllionnaire investor, is once again in the eye of a storm brewing in India. Fresh allegations about stock manipulation and tax haven misuse by Adani Group, surfaced Thursday and they were made by an organisation supported by George Soros’ Open Society Foundations. Adani Group refuted all these charges calling it “another concerted bid by Soros-funded interests supported by a section of the foreign media to revive the meritless Hindenburg report”.
Ray Dalio’s 3-Step Investment Strategy: The Blueprint to Financial Freedom (MintGenie.com)
In the world of finance and investment, Ray Dalio is a force to be reckoned with. His journey, from founding Bridgewater Associates in a modest two-bedroom New York apartment in 1975 to becoming a billionaire, is a testament to his expertise and vision. A Clear Path to Financial Independence: Dalio’s success is not just personal. Bridgewater Associates has showcased stellar performance, making massive profits over the years. But how did he manage to achieve such impressive feats? The secret, Dalio believes, is in the approach. He shared a simplified three-step formula for those who are new to the investment arena.
Image by Gerd Altmann from Pixabay
Is Clough Capital — And Its Actively Managed ETFs — The Future of Hedge Funds? (Institutional Investor)
After leaving in 2020, Vincent Lorusso Jr. has returned to Clough Capital, the $1.3 billion hedge fund in Boston, and he brought with him something he says more hedge funds should have: ETFs. Charles Clough Jr., the chief global investment strategist at Merrill Lynch from 1987 through 1999, founded the hedge fund in 2000. Lorusso had worked for the hedge fund for 16 years and liked it, but when the Securities and Exchange Commission approved non-transparent ETFs in 2019, he saw opportunity.
Wall Street Tycoons Secure Crucial Support in Their Battle Over the Hedge Fund Sale (The National Era)
Bill Ackman of Pershing Square, Boaz Weinstein of Saba Capital Management, and Marc Lasry of Avenue Capital Group are among the prominent investors who are lobbying for the acquisition of Sculptor Capital, the successor to the legendary hedge fund Och-Ziff. One of their key backers joined their cause on Thursday. Robert Shafir, Sculptor’s former CEO and a prominent stakeholder, informed the company’s special committee that he does not approve of the July arrangement the business made with the real estate investment firm Rithm Capital.
TCI Boss Hohn’s Charitable Foundation Makes $491m in Donations Despite Investment Loss (Hedge Week)
The philanthropic foundation set up by Chris Hohn, founder of hedge fund firm The Children’s Investment Fund Management (TCI), donated almost $500m to charitable activities last year despite recording an investment loss for the first time in ten years, according to a report by The Times. The report cites the accounts for The Children’s Investment Fund Foundation as showing it gave $491m to charities in 2022, down from $828m in the previous year, as the organisation recorded an investment loss of $487m due to a what it described as “a challenging economic environment”, it’s first first net loss since 2012.
Insider Trading Alert: Huge Nvidia Shareholder Sells $25m of NVDA Stock (Finbold)
As Nvidia’s (NASDAQ: NVDA) stock continues to deliver stellar performance in 2023, shareholders are capitalizing on the momentum by selling their shares. Notably, Mark Stevens, a prominent member of Nvidia’s board and its second-largest shareholder, has undertaken a significant sale of Nvidia’s shares, amounting to a staggering $25 million. The disclosure of this transaction was made in documents filed with the United States Securities and Exchange Commission (SEC), where he unloaded a total of 52,175 shares. This sale of shares was executed in two separate batches.
Friday 9/1 Insider Buying Report: SPRY, WDAY (Nasdaq.com)
On Tuesday, ARS Pharmaceuticals’ Director, Peter A. Thompson, made a $3.1M buy of SPRY, purchasing 500,000 shares at a cost of $6.20 a piece. So far Thompson is in the green, up about 29.0% on their buy based on today’s trading high of $8.00. ARS Pharmaceuticals is trading up about 9.6% on the day Friday. This purchase marks the first one filed by Thompson in the past twelve months. And at Workday, there was insider buying on Tuesday, by Co-CEO Carl M. Eschenbach who purchased 8,676 shares for a cost of $240.44 each, for a total investment of $2.09M. Workday is trading up about 1% on the day Friday. So far Eschenbach is in the green, up about 2.7% on their buy based on today’s trading high of $247.04.
Over $2M Bet On Workday? Check Out These 4 Stocks Insiders Are Buying (Benzinga)
Workday: The Trade: Workday, Inc. (WDAY) Co-CEO Carl Eschenbach acquired a total of 8,676 shares shares an average price of $240.44. To acquire these shares, it cost around $2.09 million. Impinj: The Trade: Impinj, Inc. (PI) Director Patrick Daniel Gibson acquired a total of 28,579 shares at an average price of $63.27. To acquire these shares, it cost around $1.81 million.
Newspaper Chain Owned by Hedge Fund Buys 4 Pennsylvania Dailies (MarketWatch)
SCRANTON, Pa. — A Pennsylvania media conglomerate sold its four daily newspapers, including The Times-Tribune of Scranton, to publishing powerhouse MediaNews Group on Thursday, ending nearly 130 years of local ownership. Times-Shamrock Communications CEO Jim Lewandowski made the announcement to staff, The Times-Tribune reported. The other papers in the sale are The Citizens’ Voice of Wilkes-Barre, the Republican Herald of Pottsville, and the (Hazleton) Standard-Speaker, as well as Times-Shamrock’s weeklies, commercial printing business and other divisions.
