Citadel Sees Most U.S. Staff Returning to the Office by June 1 (Bloomberg)
Ken Griffin’s Citadel expects to have most of its U.S. employees back in its offices in New York, Chicago and Greenwich, Connecticut, by June 1, according to a person familiar with the matter. The $38 billion hedge fund, Citadel, and market-maker Citadel Securities anticipate that regular in-office operations in those locales will resume by that date, said the person, who asked not to be identified. Operations in Texas, meanwhile, will get back to normal in mid-May.
Tiger Global Leads Two (Fortune)
Honestly, the headline says it all. Hedge fund-turned-omnipresent venture investor Tiger Global Management announced two mega deals Tuesday. They include: An $83 million Series D round in Vast Data, a New York-based storage software company, valuing it at $3.7 billion; and one mega $550 million round in Kajabi, an Irvine, Calif.-based platform for creating lessons, valuing it at $2 billion.
Analysis: Berkshire Hathaway Faces Headwinds as Shareholders Look to Its Future (Reuters)
For some Berkshire Hathaway shareholders a list of post-pandemic challenges including looming inflation, a dearth of acquisitions and more environmental and social disclosure demands are prompting a rethink on Warren Buffett’s conglomerate. Making money at Berkshire used to be like “shooting fish in a barrel,” Buffett’s long-time business partner Charlie Munger said at its annual meeting on Saturday.
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The Self-Proclaimed Cultists Obsessed With Bill Ackman’s SPAC Think a Deal Is Near — But They’ve Been Wrong Before (Institutional Investor)
Some self-professed cultists investing in Bill Ackman’s SPAC, Pershing Square Tontine Holdings, now are betting on a deal announcement by mid-May. These retail investors, posting on the Reddit forum r/PSTH, call it “hopium” — and it’s just the latest speculation from those who’ve been trying to time the deal, as well as figure out which company will be the SPAC’s merger partner.
Seward & Kissel Represents Kennedy Lewis on Strategic Partnership with York Capital Management (PrivateEquityWire.co.uk)
Law firm Seward & Kissel represented opportunistic credit manager Kennedy Lewis Investment Management in connection with its strategic partnership with York Capital Management to form Generate Advisors. Under the partnership agreement, York’s approximately USD4 billion Collateral Loan Obligation (CLO) business and team, led by Rizwan Akhter, will transition to Generate Advisors and continue to manage York’s current CLO portfolio as well as any future CLOs issued by Generate Advisors.
The Great Bitcoin Debate: Warren Buffett vs. Bill Miller (The Motley Fool)
After Charlie Munger said Bitcoin (CRYPTO:BTC) is, “disgusting and contrary to the interests of civilization,” at the recent Berkshire Hathaway (NYSE:BRK.A) (NYSE:BRK.B) annual meeting, some may get the idea that all value investors must hate the world’s largest cryptocurrency. Well, as in everything related to the market, the Bitcoin debate is not so cut and dried, even among famous value investors. For instance, Bill Miller, a very successful value investor and Buffett acolyte, is a Bitcoin bull. Miller invested in Bitcoin in his fund years ago, before being forced to spin out his Bitcoin holdings into a separate account for investors. Miller also invested his personal money in Bitcoin and is now a Bitcoin billionaire after having purchased the cryptocurrency back in 2014-2015 at an average price around $350 per share, which he continues to hold.
Elliott Buys More Than $200 Million Twitter Shares On Dip (Bloomberg)
Elliott Investment Management has increased its stake in Twitter Inc. following a dramatic sell-off of the social media company’s shares after it reported a sluggish start to the year last week, according to people familiar with the matter. The New York-based hedge fund run by billionaire Paul Singer has increased its stake in Twitter by more than $200 million and continues to buy after the sell-off began Friday, the people said, asking not to be identified because the matter is private. Elliott disclosed a stake in Twitter last year, though it’s not clear how big it currently is.
Tuesday 5/4 Insider Buying Report: LLY, CBAN (Nasdaq.com)
On Friday, Eli Lilly’s Director, Jackson P. Tai, made a $249,759 buy of LLY, purchasing 1,366 shares at a cost of $182.84 a piece. So far Tai is in the green, up about 3.5% on their purchase based on today’s trading high of $189.25. Eli Lilly is trading up about 1.8% on the day Tuesday. And at Colony Bankcorp, there was insider buying on Thursday, by Director Meagan M. Mowry who bought 3,166 shares at a cost of $15.71 each, for a trade totaling $49,738. Before this latest buy, Mowry made one other purchase in the past year, buying $35,955 shares for a cost of $11.08 each. Colony Bankcorp, is trading down about 0.9% on the day Tuesday. So far Mowry is in the green, up about 4.6% on their purchase based on today’s trading high of $16.43.
3m Co (MMM) Chairman and CEO Michael F Roman Sold $1.3 million of Shares (Guru Focus)
Chairman and CEO of 3m Co., Michael F Roman, sold 6,803 shares of MMM on 05/03/2021 at an average price of $197.8 a share. The total sale was $1.3 million.
The Seg Pres. Gr. & Military Bus. of Humana (NYSE: HUM) is Selling Shares (Analyst Ratings)
Today, the Seg Pres. Gr. & Military Bus. of Humana (HUM), Christopher Hunter, sold shares of HUM for $2.29M. Following Christopher Hunter’s last HUM Sell transaction on February 23, 2021, the stock climbed by 67.6%. In addition to Christopher Hunter, one other HUM executive reported Sell trades in the last month. Based on Humana’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $20.67 billion and quarterly net profit of $828 million.
