If Dan Och Can’t Have His Former Hedge Fund Then No One Can! (Deal Breaker)
Four years ago, Dan Och gave up control of his then-namesake hedge fund. Having steered the firm into and then partly out of a massive African bribery scandal that nearly brought the whole place down, he agreed it was time to step away, albeit a bit behind schedule. But he did have conditions, namely that his hand-picked successor and former waterskiing instructor Jimmy Levin not get the CEO job he was promised. Unfortunately for Och, he was unable to humiliate Levin into quitting, and unwilling to fire him at a cost of some $300 million and probably a fair share of Och-Ziff’s remaining investors.
A FTSE 100 Stock that Warren Buffett Might love! (The Motley Fool)
Buffett has recently built a big stake in the oil industry. And I think he might like the look of FTSE 100 share BP too. Should I buy it today? Paying attention to what legendary investors are getting up to is a good idea in uncertain times. So I’ve been checking out what Warren Buffett has been buying through his company, Berkshire Hathaway. Buffett might be best known for investments in Apple, Coca-Cola, and Kraft Heinz. But the self-made billionaire also has considerable stakes in certain US oil stocks.
Preqin Special Report: The Future of Alternatives in 2027 (Preqin)
Every two years we use our market-leading data, team of research analysts, and industry-wide contacts to attempt to answer the question: what does the future hold for the alternative assets industry? Preqin’s global reach and wide-ranging client base means we engage with many industry participants around the world, gaining unique insights into not just their current behavior but also their future plans. These insights help to shape our data collection agenda, and feed into our own research and analysis. Through our Future of Alternatives report, we aim to provide our clients and the wider market with the data and insights they need to successfully navigate the evolving alternatives landscape, and hope to answer some key questions about what we can expect in our industry in the next five years.
Florida Hedge Fund could Reap Around $200 Million from Big Arbitrage Bet on Twitter (CNBC)
Among the big winners in Elon Musk’s agreement to follow through with his deal to buy Twitter is an activist hedge fund based in a coastal Florida city that was just wrecked by Hurricane Ian. Pentwater Capital, a 15-year-old firm with close to $5 billion in assets, bought a 2.4% stake in Twitter during the second quarter. The purchase of 18.1 million shares cost Pentwater roughly $725 million.
Wednesday 10/5 Insider Buying Report: CNTQ, RFMZ (Nasdaq.com)
On Friday, Chardan NexTech Acquisition 2 Corp (CNTQ)’s Director, Kerry Propper, made a $5.02M buy of CNTQ, purchasing 485,000 shares at a cost of $10.36 a piece. Propper was up about 8.3% on the purchase at the high point of today’s trading session, with CNTQ trading as high as $11.22 in trading on Wednesday. Chardan NexTech Acquisition 2 Corp is trading up about 4.4% on the day Wednesday. This buy marks the first one filed by Propper in the past year. And on Monday, President Patrick W. Galley bought $95,163 worth of Rivernorth Flexible Municipal Income Fund II (RFMZ), buying 7,000 shares at a cost of $13.59 a piece. Before this latest buy, Galley bought RFMZ on 3 other occasions during the past twelve months, for a total investment of $200,145 at an average of $14.30 per share. Rivernorth Flexible Municipal Income Fund II is trading down about 0.7% on the day Wednesday.
$15.3 Million Bet On Dave? 3 Stocks Insiders Are Buying (Benzinga)
Dave: The Trade: Dave Inc. (DAVE) CEO Jason Wilk acquired a total of 1,532,232 shares an average price of $10.01. To acquire these shares, it cost around $15.33 million. United Natural Foods: The Trade: United Natural Foods, Inc. (UNFI) CEO Alexander Douglas Jr acquired a total of 2,932 shares at an average price of $33.98. To acquire these shares, it cost around $99.63 thousand.
