Billionaire Investor Leon Cooperman Warns Bitcoin Buyers, Rings the Inflation Alarm, and Rules Out an Imminent Market Crash in a New Interview. Here are the 14 Best Quotes. (Business Insider)
Billionaire investor Leon Cooperman ruled out an imminent market crash, blasted the Federal Reserve for overstimulating the economy, and warned against holding bitcoin in a CNBC interview this week. Cooperman, who converted his Omega Advisors hedge fund into a family office in 2018, also rang the inflation alarm, questioned the hype around meme stocks, and bemoaned the tiny yields from bonds and saving accounts.
Ron DeSantis’ Biggest Backer Ken Griffin Spends Big on Politics (Florida Politics)
Ken Griffin has contributed more than $100 million to Republicans. Chicago-based hedge fund billionaire Kenneth C. Griffin has long been a huge contributor to Republicans, and he stands this year as the biggest donor to Florida’s 2022 gubernatorial election. In April, Griffin contributed $5 million to the Friends of Ron DeSantis committee, fueling DeSantis’ reelection effort thus far. Griffin’s gubernatorial race donation stands as Gov. Ron DeSantis‘ largest donation from an individual, political action committee, or business.
AMC Leisure (NYSE: AMC) Brief-Vendor Odey Asset Administration Hedge Fund Has Suffered a Large Loss Over the Previous Month (Game Polar)
AMC Leisure (NYSE:AMC), the erstwhile distressed movie show chain that has seen a dramatic reversal in fortunes amid a mind-boggling retail-driven inventory worth rally, continues to inflict crippling injury on its detractors. In opposition to this backdrop, the hedge fund Odey Asset Administration has emerged as one of the distinguished casualties in latest occasions as AMC Leisure shares preserve their inexorable upward trajectory.
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Hedge Fund Caledonia Falls 9% This Year as Stock Picks Sour (Bloomberg)
Australian hedge fund Caledonia has lost more than 9% since the start of January, according to people familiar with its performance, lagging stock-picking peers who have posted strong returns this year. The $10 billion fund, known for its concentrated equity bets, has been weighed down by several of its core positions. Online real estate company Zillow Group Inc. lost almost 30% through August, while Flutter Entertainment Plc fell about 7% and Just Eat Takeaway.com NV declined 17%.
Crypto Hedge Fund Nickel Digital’s Assets Soar Amid Bitcoin Volatility (Hedge Week)
London-based crypto hedge fund Nickel Digital Asset Management has seen its assets soar some 260 per cent this year, as its range of cryptocurrency-focused strategies have generated gains throughout the sector’s rollercoaster ride. The surge, which has brought the firm’s total AUM to more than USD250 million, has been fuelled by consistent positive returns across its four fund strategies, along with prudent risk management and a high-quality institutional team and business setup, the firm said this week.
Alden Capital head Freeman buys Coconut Grove mansion for $19M (Photos) (BizJournals)
Heath Freeman, managing director of the Alden Global Capital hedge fund, paid $19 million for a waterfront mansion in Coconut Grove, according to a source with knowledge of the deal. David J. Ivler, the president of DJI Corp; and his wife, Jessica W. Ivler, sold the 11,253-square-foot home at 3503 Main Lodge Drive in the gated Camp Biscayne neighborhood. Toni Schrager of Brown Harris Stevens represented the seller while the buyer worked with Judith Werner of Bold Miami. The price equated to $1,688 per square foot.
Warren Buffett’s Largest Healthcare Stock Investment (The Motley Fool)
DaVita (NYSE:DVA) is the only healthcare stock you’ll find in Berkshire Hathaway’s (NYSE:BRK.A)(NYSE:BRK.B) 10 largest holdings. In a recent episode of The Rank on Fool Live, longtime Fool.com contributors Matt Frankel, CFP, and Jason Hall ranked the top 10 holdings in Berkshire’s portfolio to determine the best places to invest new money. In this clip, recorded on Aug. 30, you’ll hear where DaVita ranks.
Crypto Crash: Here’s Why Billionaire John Paulson’s ‘Worthless’ Call Might Be Right (Money Wise)
It feels as though cryptocurrency has been deemed a worthless fad since Bitcoin first emerged from the guts of an anonymous engineer’s computer rig back in 2009. While some of the criticism has come from the general public, who may not have a clear grasp on what cryptocurrencies are, how they work or why they possess any value whatsoever, some very clued-in financial minds have also questioned crypto’s rising prominence.
Asset Managers Need a Tech Overhaul (Institutional Investor)
Asset managers used to depend on in-person conversations to strike deals, but that’s no longer the case as managers and clients across the globe shift to remote work. That’s one reason 75 percent of asset managers showed a strong appetite for digital transformations, according to a recent survey from KPMG.
Axon Capital’s co-CIO Explains Why the $500 Million Hedge Fund is Ramping Up Its SPAC Bets as the Market Cools Down (Business Insider)
The SPAC boom is cooling down as regulators are increasingly scrutinizing these deals and launches face a slew of lawsuits. Despite the regulatory environment for special purpose acquisition companies, hedge fund manager Axon Capital is just getting started in the space. SPACs, or companies created solely to merge or acquire another business and take it public, are $500 million Axon Capital’s latest investment focus, Kori Estrada, co-chief investment officer at Axon, told Insider.
Friday 9/10 Insider Buying Report: ON, REVG (Nasdaq.com)
On Tuesday, ON Semiconductor’s Director, Gregory L. Waters, made a $769,420 buy of ON, purchasing 17,000 shares at a cost of $45.26 a piece. Waters was up about 4.3% on the buy at the high point of today’s trading session, with ON trading as high as $47.20 at last check today. ON Semiconductor is trading up about 3.8% on the day Friday. This buy marks the first one filed by Waters in the past twelve months. And on Thursday, Director Paul J. Bamatter bought $758,500 worth of REV Group, buying 50,000 shares at a cost of $15.17 a piece. Before this latest buy, Bamatter made one other purchase in the past year, buying $760,000 shares for a cost of $15.20 each. REV Group is trading up about 12.8% on the day Friday. So far Bamatter is in the green, up about 16.0% on their buy based on today’s trading high of $17.60.
An Insider at Corning (NYSE: GLW) is Selling Shares (Analyst Ratings)
Yesterday, an Insider at Corning (GLW), Clark Kinlin, sold shares of GLW for $602.7K. In addition to Clark Kinlin, 4 other GLW executives reported Sell trades in the last month. Based on Corning’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $3.5 billion and quarterly net profit of $449 million. In comparison, last year the company earned revenue of $2.56 billion and had a GAAP net loss of $71 million.
