‘Don’t Want to Get Vaccinated, Leave’ — Hedge Fund Founder Mandates Covid Shots in His Office (CNBC)
Anthony Scaramucci, founder and co-managing partner of SkyBridge, told CNBC on Friday he’s mandated Covid shots at the office of his hedge fund. He also called on all eligible Americans to go out and get vaccinated. “We’re a private company. If somebody wants to fight me over the vaccine mandate, that’s fine. Let’s take it to the court,” Scaramucci said on “Squawk Box,” while imploring other firms to follow suit.
The Not-So-Happy Story of the World’s Biggest SPAC (NYMag.com)
Bill Ackman isn’t known for always being right. He is, however, known for influencing large numbers of other investors, selling them on his ideas, and sometimes making them lots and lots of money — but also sometimes being disastrously wrong, failing to deliver on his promises, and losing lots of everyone’s money in the process. Early last year, Ackman made billions of dollars betting the markets would fall as COVID spread around the globe. A few years prior to that, he lost a fortune on a high-profile bet that he could get supplements-maker Herbalife declared a pyramid scheme by regulators (who declined to do so).
Banks Are Giving the Ultra-Rich Cheap Loans to Fund Their Lifestyle (Bloomberg)
Billionaire hedge fund manager Alan Howard paid $59 million for a Manhattan townhouse in March. Just two months later he obtained a $30 million mortgage from Citigroup Inc. Denis Sverdlov, worth $6.1 billion thanks to his shares in electric-vehicle maker Arrival, recently pledged part of that stake for a line of credit from the same bank. For Edgar and Clarissa Bronfman the loan collateral is paintings by Damien Hirst and Diego Rivera, among others. Philippe Laffont, meanwhile, pledged stakes in a dozen funds at his Coatue Management for a credit line at JPMorgan Chase & Co.
Pandemic Gains 23% From AMC, Hertz: Hedge Fund Is Born: Falls 8% On Thursday, Underperform Market (VIA.com)
(VIANEWS) – Dan Gropper, a hedge fund manager was short AMC Entertainment Holdings Inc. at the time the Redditors launched their moon launch for the chain of movie theaters. Bloomberg Quint confirmed that he made the decision to stop running his new fund six months ago. Gropper was a former manager at Aurelius Capital Management before he started Carronade Capital Management. He covered 20% on January 26, as AMC closed below $5. The rest was paid the next day, when the stock shot up to $20.
Credit Catalysts: How BlueBay’s Global Credit Alpha Strategy is Thriving with Active Trading Style (Hedge Week)
BlueBay Asset Management’s Global Credit Alpha Long/Short strategy has generated a commendable track record since launching almost a decade ago, taking an active catalyst-driven approach to trading corporate and sovereign credit markets. With a broad investment mandate, and no restrictions on geographies, sectors or ratings universe, the liquid credit long/short strategy has never suffered a single down year since its November 2011 inception. What binds the portfolio together, says Senior Portfolio Manager Geraud Charpin, is the liquidity profile of its investments.
