Normally Vocal Hedge Fund Manager Bill Ackman Takes a Passive Stake in Nike (CNBC)
Bill Ackman‘s Pershing Square has taken a passive stake in Nike, a source tells CNBC. The activist hedge fund will not pressure the shoe apparel company for changes. CNBC was not able to clarify the size of the hedge fund’s Nike position. Ackman’s position in Nike was earlier reported by Reuters, which said the position revealed at the firm’s annual client dinner Thursday. Nike shares are up 8 percent this month and have a market value of nearly $110 billion.
George Soros Says Trump Administration Is ‘Danger to the World’ (Bloomberg)
George Soros said President Donald Trump is risking a nuclear war with North Korea and predicts that the groundswell of opposition he’s generated will be his downfall. “I consider the Trump administration a danger to the world,” the billionaire investor said in a speech from Davos, Switzerland. “But I regard it as a purely temporary phenomenon that will disappear in 2020, or even sooner.” He expects a Democratic “landslide” in the 2018 elections. Soros, the 87-year-old chairman of Soros Fund Management, said his Open Society Foundations are spending more than half of their budget “closer to home” rather than in the developing world, in an effort to protect democracy.
Hedge Fund Says Cannabis Stocks will Either Collapse or We Should All Move to Canada and Grow Pot (CNBC)
Lakewood Capital Management, led by Anthony Bozza, revealed short positions in Canopy Growth and Aurora Cannabis, according to the firm’s fourth-quarter investor letter sent Wednesday and obtained by CNBC. The firm has about $5 billion in assets under management. “It has been hard to come across a retail investor rag or stock blog without hearing about some way to play this theme, and countless web sites are now devoted to investing in this exciting industry,” Bozza wrote. “Despite recent mania around the legalization of recreational pot in California, there is a little problem: none of these companies sell at all into California (or anywhere else in the U.S. for that matter), since that would, of course, be illegal.”
Exclusive: Commodities Fund Jamison Capital to Shut – Source (Reuters)
NEW YORK/LONDON (Reuters) – Jamison Capital Partners LP, a New York-based macro commodity hedge fund run by former Morgan Stanley trader Stephen Jamison, will shut its nearly $1.5 billion fund by the end of the month, according to a source familiar and an investor letter. The firm is shutting its Koppenberg Macro Commodity Fund by Jan. 31, according to the letter reviewed by Reuters. The firm will convert into a family office, the source said.