Hedge Fund and Insider Trading News: Cathie Wood, Carl Icahn, Palliser Capital, Concord Management, Black Stone Minerals LP (BSM), S&P Global Inc. (SPGI), and More

Cathie Wood’s Views Draw Flak on Twitter (TipRanks)
In the latest episode of In The Know, renowned hedge fund manager Cathie Wood discussed her reasons for believing that the economy is already in a recession. The CEO and CIO of ARK Invest funds invest in disruptive technology stocks as a means to fight inflation. Cathie shared the video on Twitter (TWTR) and also reiterated her stance that deflation would be a bigger problem for the American economy than inflation.

Federal Authorities Investigate Firm Linked to Roman Abramovich (The New York Times)
Federal authorities are investigating Concord Management, a small investment advisory firm that oversaw billions of dollars in hedge fund investments for the Russian oligarch Roman Abramovich, according to people close to the firm. The investigations, by the Securities and Exchange Commission and the Federal Bureau of Investigation, are focused at least in part on how associates of Mr. Abramovich used a series of offshore shell companies to invest up to $8 billion in dozens of U.S. hedge funds and private equity firms over the past two decades, the people said.

Icahn’s Investment Portfolio Posts Second-Quarter Loss (Institutional Investor)
But the private hedge fund-like portfolio is still in the black for the year. Carl Icahn’s private hedge fund suffered a 4.8 percent loss in the second quarter. Nevertheless, it remained in the black for the first half of the year, gaining 4.3 percent, according to a regulatory filing.

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‘Inexplicable’: Capricorn Energy Investor Calls on Board to Exit Tullow Oil Merger (UpStreamOnline.com)
Another major investor has hit out at Capricorn Energy’s board for approving a merger with fellow London-listed player Tullow Oil, describing the decision as “inexplicable,” while depicting Tullow as the “one of the worst performing” oil and gas companies. Palliser Capital, a UK-based hedge fund holding 5% of Capricorn shares, wants the board to exit the merger, saying the deal is unlikely to be approved given growing shareholder opposition to the proposal.

Hedge Funds Face SEC Demand to Share More About Their Strategies (Bloomberg)
Following a challenging second quarter, the hedge fund industry came back fighting in July, advancing 2.89% for the month, according to the Barclay Hedge Fund Index, with much of the uplift coming on the back of a seemingly improbable surge in global equity markets. The MSCI ACWI Index (a measure of global equity performance) was up 6.98%, while in the US the S&P 500 Total Return Index and NASDAQ Composite jumped 9.22% and 12.39% respectively.