Paulson & Co to Ask Detour Gold for Special Meeting for Board Overhaul (Reuters)
(Reuters) – Activist investor John Paulson’s hedge fund on Thursday said it would urge Detour Gold Corp (DGC.TO) to call a special shareholder meeting to replace a majority of the company’s directors, as it pushes for change at the Canadian gold miner. Paulson & Co’s statement comes a day after the parties engaged in a heated public exchange over Detour’s failure in publicly disclosing a buyout offer. Detour did not disclose the buyout offer to Paulson because the company was aware that a third party had already informed him about it, the gold miner said in its latest statement.
Billionaire Ray Dalio: You Have to Embrace Some Pain to Maximize Success (CNBC)
Sometimes feeling pain can be a good thing. You just have to look at it the right way. So says the billionaire entrepreneur and financier Ray Dalio. “There is no avoiding pain, especially if you’re going after ambitious goals. Believe it or not, you are lucky to feel that kind of pain if you approach it correctly, because it is a signal that you need to find solutions so you can progress,” Dalio says in a July Facebook post. The key, says Dalio, is to get into a routine of analyzing why you are experiencing pain.
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Preqin: Hedge Funds Take a Dip in June (AI-CIO.com)
Hedge funds tripped again in June, recording the asset class’ third negative month, as gauged by the 2018 Preqin All-Strategies Hedge Fund benchmark. June saw a 0.5% loss for the benchmark, giving the standard its worst start to a year in more than a decade. That benchmark is barely positive, at 0.82% year-to-date. Emerging market, Asia Pacific hedge funds, and equity strategies were the worst-performing sectors for the month, returning -1.92%, -1.91%, and -1.01%, respectively. The first two strategies are down nearly 2% apiece for the year-to-date, at -1.71% and -1.90%.
Hedge Fund Investors Pull Money for First Time Since 2017 (Bloomberg)
Investors pulled about $3 billion from hedge funds in the second quarter, the first quarterly outflow since early 2017. Macro hedge funds led net outflows in the period, with $2.8 billion leaving the strategy, according to a report Thursday from Hedge Fund Research Inc. The outflows were offset by equity hedge funds, which saw inflows of $2.4 billion.
Insider Buying: International Flavors & Fragrances Inc (IFF) Major Shareholder Acquires 76,600 Shares of Stock (FairFieldCurrent.com)
International Flavors & Fragrances Inc (NYSE:IFF) major shareholder Winder Investment Pte Ltd bought 76,600 shares of the company’s stock in a transaction on Wednesday, July 18th. The shares were bought at an average price of $128.92 per share, for a total transaction of $9,875,272.00. Following the transaction, the insider now owns 14,300,000 shares of the company’s stock, valued at $1,843,556,000. The transaction was disclosed in a legal filing with the SEC.
Insider Selling: KAR Auction Services Inc (KAR) Insider Sells $2,649,533.60 in Stock (PressOracle.com)
KAR Auction Services Inc (NYSE:KAR) insider Rebecca C. Polak sold 44,240 shares of the company’s stock in a transaction on Monday, July 16th. The shares were sold at an average price of $59.89, for a total value of $2,649,533.60. Following the sale, the insider now owns 90,630 shares of the company’s stock, valued at $5,427,830.70. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
Insider Buying: Second Sight Medical Products Inc (EYES) Director Acquires 25,575 Shares of Stock (MaconDaily.com)
Second Sight Medical Products Inc (NASDAQ:EYES) Director Gregg Williams acquired 25,575 shares of the company’s stock in a transaction that occurred on Tuesday, July 17th. The stock was purchased at an average price of $1.78 per share, for a total transaction of $45,523.50. The purchase was disclosed in a filing with the SEC.
Insider Selling: Garmin Ltd. (GRMN) Chairman Sells $2,260,740.96 in Stock (FairFieldCurrent.com)
Garmin Ltd. (NASDAQ:GRMN) Chairman Min H. Kao sold 35,664 shares of the company’s stock in a transaction that occurred on Friday, July 13th. The stock was sold at an average price of $63.39, for a total transaction of $2,260,740.96. Following the sale, the chairman now owns 4,966,882 shares in the company, valued at $314,850,649.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Insider Selling: Acorda Therapeutics Inc (ACOR) Major Shareholder Sells 33,299 Shares of Stock (WeekHerald.com)
Acorda Therapeutics Inc (NASDAQ:ACOR) major shareholder Scopia Capital Management Lp sold 33,299 shares of the firm’s stock in a transaction on Tuesday, July 17th. The shares were sold at an average price of $30.04, for a total transaction of $1,000,301.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Insider Selling: CA, Inc. (CA) Insider Sells $608,227.62 in Stock (PressOracle.com)
CA, Inc. (NASDAQ:CA) insider Ayman Sayed sold 13,858 shares of the company’s stock in a transaction that occurred on Thursday, July 12th. The stock was sold at an average price of $43.89, for a total value of $608,227.62. Following the transaction, the insider now directly owns 118,947 shares in the company, valued at $5,220,583.83. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
