Hedge Fund and Insider Trading News: Bill Ackman, David Einhorn, John Paulson, Weight Watchers International, Inc. (WTW), Continental Resources, Inc. (CLR), Entercom Communications Corp. (ETM), and More

Ackman, Einhorn Bets Are Working Out So Far — in March Madness (Bloomberg)
Bill Ackman and David Einhorn are back on top. At least when it comes to basketball picks. The billionaire hedge fund investors who’ve struggled with their investments of late have standout brackets among the 42 titans of business and finance participating in Bloomberg’s Brackets for a Cause. Ackman’s choice to win this year’s NCAA Basketball Tournament, the Villanova Wildcats, cruised to the second round, while Einhorn nailed 14 of the 16 first-round games and can still notch a perfect Sweet 16.

John Paulson’s Hedge Fund Lays Off Workers (New York Post)
The ax has fallen at John Paulson’s hedge fund. Several employees of the once mammoth Paulson & Co. were let go Thursday amid years of poor performance, The Post has learned. Cuts were across the board but also included key veterans who have been with the fund for more than 10 years. Among the senior level hedgies being shown the door were: Keith Hannan, head of trading; Brad Rosenberg, head credit trader; and partners Victor Flores and Allen Puwalski. “We are right-sizing the firm to focus on our core expertise on areas that are growing,” a firm spokesman told The Post, declining to comment on specific individuals affected.

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Paul Singer’s Elliott Takes On Europe Inc. (The Wall Street Journal)
Elliott Management Corp., the American activist fund, is on a tear in Europe. Capping a series of big investments in the continent over the last two years, Elliott this week launched a proxy fight at Telecom Italia, the one-time state-owned telecommunications giant. It has disclosed a 3% holding and nominated a slate of directors to replace six current board members, including the company’s chairman. It wants the carrier to simplify its shareholder structure, start paying a dividend and sell or spin off two of its businesses.

What Billionaire Investor Warren Buffett Can Teach You About Retirement (TheStreet)
At 87 years old and still working, Warren Buffett doesn’t appear to be following the traditional path most Americans take toward retirement. But after all, the billionaire CEO of Berkshire Hathaway (BRK.A) has never really been normal. Though he hasn’t retired just yet, Buffett has offered a treasure trove of tips for those looking to settle down at a more reasonable age. Here are some of the best retirement tips from the Oracle of Omaha himself.