Hedge Fund and Insider Trading News: David Einhorn, Bill Ackman, Warren Buffett, D.E. Shaw, Standard General LP, Ares Management Corp (ARES), Vicor Corp (VICR), and More

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Hedge Fund DE Shaw Says It’s Still Hiring During the Pandemic (eFinancialCareers.com)
It’s not just Citadel. New York-based hedge fund D. E. Shaw is also continuing to hire staff during the pandemic. It’s understood that the fund has virtually onboarded 22 employees since March 9th. It’s still continuing to recruit people now, conducting interviews by video conference as well as running internships and fellowships (spring internships) remotely. DE Shaw‘s biggest ever intern class (28 people) is arriving on May 26th and will start out in a virtual format, before moving to into DE Shaw’s offices later in the summer if possible. This year’s interns come from 28 universities globally and are drawn from countries as disparate as Singapore and France.

Hedge Fund Sues Target Company For Being Mean To It (Deal Breaker)
Hedge fund activists are known for dishing out, and receiving in turn, some pretty harsh and uncompromising language. You’d have thought Standard General would know this, having worked with and then scorned the inimitable Dov Charney. But, apparently, you can still hurt SG’s feelings, at least legally. New York-based hedge fund Standard General LP sued Tusk Strategies Tuesday in Manhattan federal court, accusing the political consulting firm, of “blanketing the media with false and misleading proxy materials” on behalf of a “secret client….”

Warren Buffett’s Favorite Stock-market Indicator Hits Record High, Signaling a Crash Could be Coming (Business Insider)
Warren Buffett‘s favorite stock-market indicator has climbed to a record high, signaling that stocks are overvalued and that another crash could be coming. The so-called Buffett indicator takes the combined market capitalizations of a country’s publicly traded stocks and divides it by quarterly gross domestic product. Investors use it to gauge whether the stock market is overvalued or undervalued relative to the size of the economy. Buffett, a billionaire investor and the boss of Berkshire Hathaway, described it in a Fortune magazine article in December 2001 as “probably the best single measure of where valuations stand at any given moment.”

Countries with the Smallest Government Per Capita in the World


Activist Teleios Recommends Two Independent Board Members to Maisons du Monde (Reuters)
LONDON, April 30 (Reuters) – Activist Teleios Capital Partners said it will be recommending the appointment of two new independent board members to French furniture and home decor retailer Maisons du Monde. The hedge fund firm, which holds a 19.9% stake in the company, said in the statement on Thursday it was proposing to add Thierry Falque-Pierrotin and Laure Hauseaux.

Tesla Pares Advance After Einhorn Questions Billings Again (Bloomberg)
David Einhorn, the president of hedge fund Greenlight Capital, questioned Tesla Inc.’s billing practices again in his latest repartee with the electric-car maker’s chief executive officer, Elon Musk. “I guess the offer of a factory tour was never serious,” Einhorn said in a tweet, referring to an invitation Musk extended last year for the long-time Tesla short seller to visit the company’s plants.

CTA Pioneer Comes Back to the Front (Hedge Nordic)
Stockholm (HedgeNordic) – Most Nordic hedge funds were not spared from the coronavirus-fuelled sell-off that tanked global markets in March. Some funds, however, shone during last month’s market turmoil. The three vehicles managed by Finnish systematic manager Estlander & Partners posted solid performance last month and year-to-date. Estlander & Partners Alpha Trend, the asset manager’s flagship vehicle that employs a pure trend-following strategy, gained 6.2 percent last month and 8.4 percent in the first quarter. This vehicle was the fifth best performing member of the Nordic Hedge Index in the first quarter. This is not the first time Alpha Trend performs well in extreme risk-off environments. The longest-living member of the Nordic Hedge Index gained about 38 percent in 2008.

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