Hedge Fund and Insider Trading News: David Einhorn, Anthony Scaramucci, Ray Dalio, Bain Capital Specialty Finance Inc (BCSF), Union Bankshares Inc (UNB), and More

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Tesla Critic David Einhorn Wants Elon Musk to Resign Over Solar Controversy (Bloomberg)
It only took 12 hours for hedge fund investor David Einhorn, a well-known Tesla Inc. critic, to wade into the controversy over the company’s solar systems. He called on Tesla Chief Executive Officer Elon Musk to resign after a Business Insider report overnight showed the company tried to replace faulty parts in its rooftop solar panel systems as part of an effort known as Project Titan. Earlier this week, Walmart Inc. sued Tesla, saying panels that the company’s energy unit installed caught fire on at least seven of its stores.

Why Anthony Scaramucci is waging a media war on President Donald Trump (MarketWatch.com)
A friendship between President Donald Trump and one of his formerly most vocal advocates has taken an almost-Shakespearean twist. Anthony Scaramucci was once an ardent Trump supporter. He enjoyed a fleeting 11-day stint as the president’s White House communications director and as recently as Aug. 8 on CNBC applauded “the president’s courage for going after these issues,” referring to a yearlong Sino-American trade war.

Covalis Capital's Returns, AUM and Holdings


Ray Dalio’s Beatles-inspired Routine for Success (CNBC)
Billionaire hedge fund manager Ray Dalio is widely considered a rock star of the investing world. But the source of his success has a lot to do with superstars of another sort: The Beatles. Dalio was in his early twenties when he was inspired by the famous foursome to take up a new skill: Meditation. Today, half a century on, it remains a constant of his daily routine, and one to which he attributes his greatest career wins.

3 Klarman Investing Gems can Hold You in Good Stead in this Market (EconomicTimes.com)
Value investing legend Seth Klarman says it’s essential to avoid losses while making investment, as losses are the essence of risk and investors should venture into more risky securities only when the risk-reward ratio is clearly in their favour. Seth Andrew Klarman is an American billionaire investor, hedge fund manager and author and a proponent of value investing. He is the chief executive and portfolio manager of the Baupost Group, a Boston-based private investment partnership that he founded in 1982. Klarman’s investment thesis holds a lot of relevance in the current market, where stocks have seen significant value erosion and yet investors are not ready to nibble at them fearing further pain.

Sachem Head’s Portfolio Is Bigger Than You May Think (Institutional Investor)
There’s more to Sachem Head’s portfolio than what appears in its second-quarter 13F filing. Sachem Head Capital Management sharply cut back on its U.S. common stock portfolio in the second quarter.The activist hedge fund firm, headed by Bill Ackman protégé Scott Ferguson, liquidated eight of the 12 stocks held in the portfolio at the end of the first quarter. It also initiated positions in…

Hedge Funds Revert to Outflows in June (Hedge Week)
Hedge funds were unable to build on the previous month’s inflows in June with the industry moving back into net redemption territory with USD12.2 billion in outflows for the month. June redemptions, which represented 0.4 per cent of industry assets, were a reversal from May’s USD800 million in hedge fund industry inflows, according to the Barclay Fund Flow Indicator published by BarclayHedge, a division of Backstop Solutions. The ongoing US-China trade war which began to manifest itself in signs of slowing industrial and consumer demand in the US and China, falling oil prices and an equity market plunge this spring factored heavily in June’s redemption activity.

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