Billionaire Klarman Slams Trump, Vows To Work For Clinton (Reuters)
Billionaire hedge fund manager Seth Klarman said on Wednesday he would work to get Hillary Clinton elected president of the United States because he finds recent comments by Donald Trump “shockingly unacceptable.” “His words and actions over the last several days are so shockingly unacceptable in our diverse and democratic society that it is simply unthinkable that Donald Trump could become our president,” Klarman said of the Republican presidential nominee. The president and chief executive of The Baupost Group told Reuters in an emailed statement that Trump’s suggestion “that the election will be rigged is particularly dangerous.” “I will continue to find ways to support Hillary Clinton and defeat Donald Trump,” he said.
The Bill Ackman Problem Everyone Forgot About is Coming Back To Bite Him and Valeant (Business Insider)
And now some bad news for billionaire Bill Ackman, the founder of the hedge fund Pershing Square. Valeant Pharmaceuticals, the drug company whose 90% stock-drop disaster has been pulling down Ackman’s portfolio since October, announced on Monday that three executives would leave. The departing executives were of no small importance at Valeant. Pavel Mirovsky was the head of the company’s Europe business, Laurie Little was the head of media relations, and finally Robert Chai-Onn was the company’s general counsel.
Anandar Capital Fund Liquidates After Partner Disagreement (Bloomberg)
Anandar Capital Management, the hedge fund started by former Magnetar money managers Min Htoo and Jordan Teramo, is returning money to investors, according to a letter obtained by Bloomberg. The liquidation of the New York-based firm is due to a disagreement between the partners, said a person with knowledge of the situation, without providing details. The person asked not to be named because the information is private. “It is with thoughtful resolution that I inform you of my decision to conclude our Anandar effort,” Htoo, the firm’s chief investment officer, wrote in the July 8 letter. “Though this has been an exceedingly difficult decision to make, I have conviction that it is the correct path as your fiduciary.” Teramo declined to comment on the closing, as did Htoo.
$9 BILLION HEDGE FUND: There’s One Big Problem With Netflix (Business Insider)
Netflix has a problem: It’s you. That’s according to Crispin Odey, one of London’s biggest hedge fund managers. Voracious consumers are watching Netflix’s content more quickly than the online streaming service can replenish it, Odey said during his hedge fund’s second-quarter phone call, a 53-minute recording of which was obtained by Business Insider. Odey’s observation is interesting since Netflix already produces a lot. This year alone, the company plans to release 600 hours of content, which would take 25 days to binge-watch straight through. Odey’s $9.3 billion hedge fund held a short position in Netflix as of the July phone call, meaning that the firm would earn money if the stock price drops.
