Should You Follow Jim Simons’ Lead and Jump on AMC Stock? (Investorplace.com)
InvestorPlace’s Brenden Rearick reported on Aug. 17 that Renaissance Technologies upped its stake in AMC Entertainment (NYSE:AMC) in the second quarter by 260%. The hedge fund now owns more than 1.8 million shares of AMC stock. Jim Simons, the billionaire who runs the hedge fund, seems to be saying yes to moviegoers returning to the cinemas. I don’t think there’s any doubt that this will happen. After all, a day without the cinema is like a day without sunshine. But that’s not the same thing as AMC stock being an outright buy at $37.
Will Activist Investors Succeed In Transforming ExxonMobil? (Bay Street)
As Oil Price readers know, the tiny activist hedge fund, Engine No. 1, challenged management and won three seats on Exxon’s board of directors back in late May. There is nothing unusual in the fiercely competitive US corporate world about hedge funds managers trying to influence top management to increase their and other shareholder’s wealth more expeditiously. But because of Exxon’s size and its large number of shareholders, it is difficult to launch this type of attempt at shareholder democracy. To make the task more difficult, Exxon’s management. led by CEO Darren Woods strongly opposed the competitive slate of four nominees despite all of them possessing long and impressive energy resumes.
Point72 Alum David Fiszel on Why He’s Betting Big on Buy Now, Pay Later Names Like Klarna and How He Keeps His $1.5 Billion Hedge Fund Away from Meme-Stock Hype (Business Insider)
Honeycomb Asset Management is only five years old, but founder David Fiszel has been thinking about it for at least 20. It’s Fizsel’s second spin at running his own fund – he launched the short-lived Rhombus Capital Management in 2004, when hedge funds could be “two guys and a Bloomberg,” and closed it three years later. He believes Honeycomb is the product of a more measured approach to firm-building, and the fund is coming off the best year in its history.
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Why This Metals and Mining-Focused Hedge Fund is Preparing for Renewed Market Jitters (Hedge Week)
As global economies remain finely balanced between reopening and containing Covid-19 variants, metals and mining-focused hedge fund Delbrook Capital is positioning its portfolio for fresh market volatility up ahead. The Vancouver-based firm’s long/short equity-focused strategy, the Delbrook Resource Opportunities Master Fund, scored a 3 per cent gain in July, partially recovering from the previous month’s 4.4 per cent slide, bringing its year-to-date return to 31 per cent. Its investment universe spans a range of commodities including gold, silver, platinum and palladium, as well as base metals such as copper and zinc, industrial metals including iron ore and coal, and energy metals like lithium and uranium.
Ex-Anchorage Hedge Fund Exec Moves to PJT Partners (Financial News)
Investment bank PJT Partners has hired the former US head of restructuring at hedge fund Anchorage Capital Group as a partner, said people familiar with the matter. Charles Tauber, 50 years old, had a major role in the New York hedge fund’s investments in distressed companies including the Hollywood movie studio MGM Holdings, PG&E and J.Crew. He is slated to start at PJT in September in its restructuring and special-situations group, one of the people said. Tauber left Anchorage in 2020 after more than a decade there.
