The Hedge-Fund Superstar Jason Karp Shuttered His $4 Billion Firm to Build a Health Food Empire He’s Modeling After Berkshire Hathaway. And He’s Using the Same Data-Driven Approach that Made Him an Investing Genius. (Business Insider)
On a spring day in 2018, Jason Karp paid a visit to Kern Valley State Prison, a maximum-security facility in California’s Central Valley. Karp was the founder of Tourbillon Capital Partners, an award-winning hedge fund that managed more than $4 billion. Traveling with a few others from the business world to Kern Valley as part of a volunteer program, he met with inmates, counseling them on entrepreneurship and offering advice on how to make the most of their lives behind bars.
Greenlight Beat the Market in May (Institutional Investor)
The hedge fund headed by David Einhorn is solidly in the black for now. Greenlight Capital is on a small roll. The value-driven hedge fund firm headed by David Einhorn posted another 2.5 percent gain in May and is now up a respectable 5 percent for the year.In fact, last month it beat the major indices, with the S&P 500 up 0.55 percent and the…
AMC Stock Surges as it Raises $230 Million, Pledges to ‘Go On Offense’ (New York Post)
It pays to be popular on Reddit. AMC Entertainment announced Tuesday it will raise $230.5 million by selling 8.5 million shares to hedge fund Mudrick Capital, saying it plans to use the cash to “go on offense” by pursuing opportunistic acquisitions across the virus-ravaged movie-theater sector. The deal with Mudrick values AMC stock at $27.12 a share, valuing the company at upwards of $13 billion – a remarkable number for a stock that had dropped to $4 six months ago as its business was on the brink of bankruptcy amid nationwide COVID-19 lockdowns.
Hedge Fund Hiring More Non-Graduates into Data Science Jobs (eFinancialCareers.com)
Aspect Capital, the quant hedge fund that hires students who haven’t been to university into apprenticeship roles, is expanding its apprenticeship programme to take on more trainee data scientists. Aspect currently has nine apprentices, hired in previous years to work in roles across legal, data and trading support. It plans to increase their number in future (although it isn’t saying by how much), and will recruit more of them onto a degree-level apprenticeship in data science and analytics named the ‘Advanced Data Fellowship’ program, run in combination with training provider Multiverse.
Goldman Sachs Backs Single-Family Rental Fund for Small Investors (The Wall Street Journal)
A startup that wants to open up the single-family home rental market to small investors is ramping up its home purchases, after winning the backing of Goldman Sachs Group Inc. Real-estate firm Fundrise manages a fund that enables customers to invest as little as $500 in homes going up in fast-growing cities such as Charlotte, N.C., Tampa, Fla., and San Antonio. With the dearth of homes for sale throughout the U.S. pushing up housing prices, single-family rentals have become an increasingly popular alternative to buying in desirable neighborhoods.