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Hedge Fund and Insider Trading News: Crispin Odey, Third Point LLC, Criterion Capital, Twitter Inc (TWTR), ACADIA Pharmaceuticals Inc. (ACAD), and More

Crispin Odey’s Comeback Gets a Boost After Hedge Fund Surges (Bloomberg)
Crispin Odey, whose bearish bets led to his hedge fund suffering three successive years of losses, is firmly back on the rise. The Odey European Inc. fund surged an estimated 10 percent in September, its best monthly gain since December 2014, according to an investor update seen by Bloomberg, as his long-running bets on Sky Plc and Randgold Resources Ltd paid off. The gains boosts his money pool’s returns for this year to about 40 percent. A spokesman for the London-based money manager declined to comment.

Exclusive: Third Point Demands Campbell Soup Board Records (Reuters)
(Reuters) – Activist investor Daniel Loeb’s hedge fund Third Point LLC has demanded access to a trove of records from Campbell Soup Co, ranging from board meeting minutes to financial documents, as it ratchets up a campaign to replace the company’s board of directors, according to a letter seen by Reuters. Third Point’s move offers an example of the legal tools shareholder activists are increasingly using to boost their chances of winning proxy contests against corporate boards.

Insider Trading

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Hedge Fund Criterion Capital to Shut Down After 16 Years (The Wall Street Journal)
Hedge fund Criterion Capital Management is shutting down after 16 years in business, the second large fund to announce its closure this week. The San Francisco-based firm focused on picking stocks in the technology, media and telecommunications industries. It manages about $2 billion, according to people familiar with the firm.

The Founder of the World’s Largest Hedge Fund Says There Are 2 Attributes that are Most Important to Success (Business Insider)
Ray Dalio founded Bridgewater Associates when he was 26 years old. Now, 43 years later, it’s the world’s largest hedge fund. The billionaire investor is known most for his perspectives on the economy, but he’s also well-regarded for his management philosophy and the idea of “radical transparency.” He shared many of those ideas in his 2017 book “Principles: Life and Work” and also shares ideas on his LinkedIn page.

Highfields to Return Client Money, Joining Hedge Fund Exodus (Bloomberg)
Highfields Capital Management is winding down investor Jon Jacobson’s $12.1 billion hedge fund and will return client money at the end of the year. Bloomberg’s Jason Kelly reports on “Bloomberg Daybreak: Americas.” (Source: Bloomberg)

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