Einhorn’s Greenlight Up 5.7% in August While Third Point Drops (Bloomberg)
David Einhorn’s hedge fund bucked last month’s equity-market slump, posting a 5.7% gain as competitors including Dan Loeb’s Third Point slipped. The advance brings Greenlight Capital’s increase for the year to 20%, according to a person familiar with the matter who asked not to be identified discussing private information. August was more muted at Third Point, where the main fund fell 0.2% in August and is down 20% for the year, according to an investor letter seen by Bloomberg.
Warren Buffett’s portrait, complete with his autograph, just sold for over $75,000 at a Charity Auction (CNBC)
When Warren Buffett writes his name on something, it becomes instantly valuable — to the tune of $75,100. That’s how much an anonymous eBay user bid on Tuesday to win a unique piece of artwork: a 26-inch autographed print of Buffett overlaid with motivational quotes from the billionaire, including “Women make me optimistic about America.” All proceeds from the sale will go directly to Girls Inc. of Omaha, Buffett’s hometown chapter of the national nonprofit that provides mentorship and support for girls and young women from low-income communities across the country.
Could BH Macro be the ‘reassuringly expensive’ Stella Artois of hedge fund trusts? (SharesMagazine.co.uk)
The market regards hedge fund Brevan Howard as one of the leading global macro absolute return investment managers. Absolute return specialists aim to deliver a positive return to investors regardless of whether markets are rising or falling. They often own a mix of bonds and stocks as well as other asset classes and sometimes look to benefit from the value of assets falling as well as rising…
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‘Big Short’ Sage Michael Burry’s ‘Mother of All Crashes’ Prediction is Underway, He Says (New York Post)
Michael Burry, the hedge fund investor made famous in the 2015 film “The Big Short,” suggested Wednesday that a long-feared stock market crash is already underway. Burry, who predicted more than a year ago that stocks were headed for “the mother of all crashes,” delivered his latest warning alongside a graph showing the S&P 500’s sharp decline since hitting an all-time peak in January.
UK Hedge Fund Founder Charged in New York with Market Manipulation, Fraud (Reuters)
NEW YORK, Sept 1 (Reuters) – The co-founder and chief executive of a prominent London-based hedge fund was charged in New York on Thursday with fraud over an alleged scheme to manipulate the U.S. dollar-South African rand exchange rate in order to trigger a $20 million payment. Neil Phillips, 52, was indicted on four criminal charges including wire fraud, commodities fraud and conspiracy.
