Scaramucci Says SkyBridge can Buy Back FTX Stake This Year, Alleges SBF Committed Fraud (CNBC)
SkyBridge Capital can buy back the stake it sold to collapsed cryptocurrency exchange FTX but the issue will likely take months to resolve, the investment firm’s founder Anthony Scaramucci told CNBC Friday, “We’re waiting for the clearance from the bankruptcy people, the lawyers and the investment bankers to figure out exactly what we’re going to be buying back, and when,” he said, adding that the situation likely won’t be resolved “until probably the end of the first half of this year.
Peltz’s Trian Fund Says It will Not Pursue Takeover Bid for Wendy’s (Reuters)
Trian Fund Management, run by activist investor Nelson Peltz, said on Friday it will not pursue a takeover of Wendy’s Co (WEN.O), months after the company’s largest shareholder said it was considering a potential bid for the burger chain. Shares of Wendy’s, which had fallen about 5% in 2022, were down about 1% in premarket trading. Trian said in May last year it was exploring taking over Wendy’s, either on its own or with others, almost two decades after Peltz invested in the company.
Billionaire Investor Bill Ackman Says the Public Shouldn’t ‘Rush to Convict’ Sam Bankman-Fried (Business Insider)
The billionaire investor Bill Ackman, who heads the hedge fund Pershing Square Capital, can relate to the public pile on against Sam Bankman-Fried. Ackman, known for his $2.6 billion bet that the COVID-19 crisis would hurt the stock market, tweeted on Thursday that defendants like Bankman-Fried should be considered “innocent unless and until proven guilty,” citing his own past run-in with regulators over allegations against him in the early 2000s of market manipulation.
Pixabay/Public Domain
Billionaire Leon Cooperman Shares Value Investing Wisdom And 2023 Stock Picks (Forbes)
As a child of immigrants and a first-generation college graduate from the Bronx, Leon Cooperman made a fortune building Goldman Sachs’ asset management division and compounded it in 27 years running his hedge fund Omega Advisors. He joined Goldman as an analyst the day after graduating from Columbia’s business school in 1967, rising to become a general partner at the firm and chairman and CEO of Goldman Sachs Asset Management. Cooperman left to launch his hedge fund in 1991, which returned 12.5% annually betting on undervalued stocks, outperforming the S&P 500 Index by three percentage points, before he converted it to a family office in 2018.
Hedge Fund Fight With Union Exposes Vast Stakes of Tegna Deal (Bloomberg Law)
A union lawyer arguing that the$5.4 billion purchase of broadcaster Tegna Inc. by hedge fund Standard General LP will corrode democracy and should be blocked is also a lobbyist for three companies that stand to benefit financially if the deal dies. David Goodfriend, who represents the Communications Workers of America’s NewsGuild in proceedings before the US Federal Communications Commission, has been arguing against the Standard General-Tegna tie-up for months, saying that the deal would wreck local journalism and hurt free speech.
Sacramento County Employees Makes $50m Hedge Fund Allocation (Hedge WeeK)
Sacramento County Employees’ Retirement System has made a new direct hedge fund investment allocation of $50 million to the Tudor BVI Global Fund, a global macro fund managed by Paul Tudor Jones‘ Tudor Investment Corp, according to a report by Pension & Investments Online. The report cites a December transaction report included with materials released ahead of the $11.6 billion pension fund’s upcoming board meeting on 18 January as confirming the allocation.
Nancy Pelosi’s Husband Lost Over $500,000 Selling Tesla Stock in December as Investors Fretted About Elon Musk’s Tweets (Business Insider)
Paul Pelosi, the husband of then-Speaker Nancy Pelosi, lost over half a million dollars selling Tesla stock in December as Elon Musk’s electric vehicle and solar panel manufacturer sank amid broader fears about his focus company after his takeover of Twitter. An investor and venture capitalist, Pelosi’s husband is one of the most prodigious traders connected to a lawmaker. He’s made tens of millions of dollars in stock trades during the past few years, congressional records indicate.
Accused Insider Trader Silent on ASIC Claims (AFR.com)
Accused insider trader Cameron Waugh remains free on bail after a brief court appearance on charges that have rocked his friends and connections at the top end of the Perth business community. Mr Waugh is facing six charges of insider trading in an emerging gold company after being arrested while at picturesque Bunker Bay in Western Australia’s south-west for a wedding on December 16.
Friday 1/13 Insider Buying Report: CMTL, PHAT (Nasdaq.com)
On Wednesday, Comtech Telecommunications’ CEO, Ken Allen Peterman, made a $560,944 purchase of CMTL, buying 44,000 shares at a cost of $12.75 each. Peterman was up about 7.7% on the buy at the high point of today’s trading session, with CMTL trading as high as $13.72 in trading on Friday. Comtech Telecommunications is trading up about 4.7% on the day Friday. And on Thursday, Director Asit Parikh purchased $35,000 worth of Phathom Pharmaceuticals, purchasing 5,000 shares at a cost of $7.00 each. Before this latest buy, Parikh made one other purchase in the past twelve months, buying $100,000 shares for a cost of $8.00 a piece. Phathom Pharmaceuticals is trading up about 4.2% on the day Friday. So far Parikh is in the green, up about 10.7% on their buy based on today’s trading high of $7.75.
$4.7M Bet On Tilly’s? Check Out These 3 Stocks Insiders Are Buying (Benzinga)
Tilly’s: The Trade: Tilly’s, Inc. (TLYS) 10% owner Pleasant Lake Partners LLC acquired a total of 506,494 shares an average price of $9.27. To acquire these shares, it cost around $4.7 million. CVD Equipment: The Trade: CVD Equipment Corporation (CVV) 10% owner ADA Partners, L.P. acquired a total of 35,810 shares at an average price of $5.83. To acquire these shares, it cost around $208.93 thousand.
