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Hedge Fund and Insider Trading News: Brevan Howard Asset Management, Solus Alternative Asset Management, Third Point LLC, York Capital Management, Cleveland-Cliffs Inc (CLF), New Mountain Finance Corp. (NMFC), and More

What is Carl Icahn’s Net Worth? (Fox Business)
Carl Icahn, New York businessman and founder of Icahn Enterprises, is one of Wall Street’s most successful investors, who has shaken up corporate America and ran an investment fund comprising his personal fortune and the money of Icahn enterprises. As a notorious “corporate raider,” how much has New York’s real-life Gordon Gekko banked? Icahn’s career began in the early 1960s as a trainee stockbroker at Dreyfus & Company, progressing to an options trader. In 1968, Icahn used his $150,000 of his savings and a check for $400,000 from his uncle, Elliot Schall, to establish Icahn & Company, specializing in risk arbitrage and options trading.

Opalesque Exclusives: Fund Managers Join Central Bankers in Call for Fiscal Response to Virus Woes (
Fund managers are joining central bankers in the push for a fiscal response to the economic uncertainty surrounding coronavirus. Markets rebounded slightly on Tuesday, after plunging on Monday’s news that the virus had worsened in Italy and the US. Sector analysts are predicting weakness in most sectors of the economy as the market realizes that the impact of the virus will extend well beyond global supply chains. While the US Federal Reserve responded with an emergency 50bps interest rate cut, the central bank has noted that monetary policy can only go so far. Central bankers worldwide called on governments to facilitate a swift and sweeping response to the virus, both to help contain it and mitigate the economic impact. Fund managers and financial firms have also echoed the need for a strong fiscal stimulus package alongside comprehensive viral mitigation efforts.

Wednesday 3/11 Insider Buying Report: CLF, HPP (
At Cleveland-Cliffs, a filing with the SEC revealed that on Wednesday, CEO Lourenco Goncalves bought 200,000 shares of CLF, at a cost of $4.49 each, for a total investment of $898,260. Cleveland-Cliffs is trading down about 5.1% on the day Wednesday. Before this latest buy, Goncalves made one other buy in the past twelve months, purchasing $93,597 shares for a cost of $9.36 a piece. And at Hudson Pacific Properties, there was insider buying on Friday, by Director Ted R. Antenucci who bought 15,625 shares for a cost of $31.92 each, for a total investment of $498,750. Hudson Pacific Properties is trading down about 8.8% on the day Wednesday. Investors can snag HPP at a price even lower than Antenucci did, with shares trading as low as $27.30 in trading on Wednesday — that’s 14.5% below Antenucci’s purchase price. Inc (CRM) Chairman of the Board & co-CEO Marc Benioff Sold $1.6 million of Shares (Guru Focus)
Chairman of the Board & co-CEO of Inc., Marc Benioff, sold 10,000 shares of CRM on 03/10/2020 at an average price of $156.72 a share. The total sale was $1.6 million. Inc is a software-as-a-service company that provides enterprise cloud computing solutions, offering social and mobile cloud apps and platform services, as well as professional services to facilitate the adoption of its solutions.

The CEO of New Mountain Finance (NYSE: NMFC) is Buying Shares (Analyst Ratings)
Yesterday, the CEO of New Mountain Finance (NMFC), Robert Hamwee, bought shares of NMFC for $203.4K. Following this transaction Robert Hamwee’s holding in the company was increased by 4.44% to a total of $4.93 million. Based on New Mountain Finance’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $73.69 million and quarterly net profit of $21.45 million.

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