Cryptocurrencies Likely Won’t “Hold Value”, Says Hedge Fund Billionaire (CryptoGlobe.com)
David Siegel, co-founder of hedge fund giant Two Sigma, recently stated that he’s “a little skeptical on cryptocurrencies,” as he claims they won’t keep on being as valuable as speculators believe. During Bloomberg’s Invest Summit, held in New York on June 5, the hedge fund manager stated: “I guess I’m a little skeptical that [cryptocurrencies] are going to hold value the way that people expect that they will.” David Siegel. Siegel, who helps his New York-based hedge fund manage $52 billion worth of assets, responded to a question on whether he was fond of any cryptocurrency saying that “they’re all about equal in my mind.”
A Secretive Owner of Triple-Crown Contender Justify: George Soros (The New York Times)
WinStar Farm, one of North America’s leading thoroughbred racing and breeding operations, owns 60 percent of Justify’s breeding rights. China Horse Club owns 25 percent. A third group, a secretive entity that holds the remaining 15 percent, will remain out of the spotlight because it vigorously avoids any public attention. It is a company controlled by top employees of the billionaire investor George Soros. Mr. Soros’s connection to Justify, which was not previously reported, has garnered little notice in the sport despite the horse’s rousing success in the Kentucky Derby and the Preakness Stakes because his group tries to operate almost invisibly.
Elliott’s Singer Agrees with Buffett, Dimon on Profit Guidance (Reuters)
(Reuters) – Hedge fund Elliott Management Corp Chief Executive Paul Singer said on Thursday he agreed with billionaire investor Warren Buffett and JPMorgan Chase & Co (JPM.N) CEO Jamie Dimon that companies should move away from providing quarterly earnings guidance. “The main point was that they thought that quarterly guidance should be reduced or eliminated in an effort to make a net subtraction of short-termism in the corporate governance landscape. I happen to agree with that, my team agrees with that,” Singer told The Deal’s annual corporate governance conference in New York.
Leon Cooperman Won’t Tell The President What To Do But Sure Hopes Someone Else Does (DealBreaker)
There once was a time that Leon Cooperman had the president’s ear. Specifically, that time he had dinner with him, and the president asked him whether he thought Amazon was a monopoly. Twice. Both times, Cooperman gave the wrong answer, because he took the question at face value and failed to understand that, to Donald Trump, words like “monopoly” have no meaning except as potential weapons against perceived enemies, and therefore that saying Amazon is a monopoly does not mean that it has exclusive control over a particular commodity or service, but that it is a bad company run by someone who does not like Donald Trump and is thus a monopoly because calling it one might allow Donald Trump to destroy it.
Whitney Tilson: Warren Buffett Is Here to Stay (TheStreet)
Former hedge-fund manager, author and philanthropist Whitney Tilson shares thoughts on Apple, Tesla and Warren Buffett with TheStreet’s Brian Sozzi. Tilson, a Berkshire Hathaway (BRK.A) (BRK.B) expert, tells TheStreet we shouldn’t count on Buffett retiring anytime soon. He says the legendary investor may stay at the helm of Berkshire for at least five more years. He would be 92 by then. Tilson also speculates on Buffett’s plans for his position in tech giant Apple (AAPL). “He clearly views it as a long-term hold, and it will certainly compound over $1 trillion in the not too distant future — and then double again in the next five years,” says former hedge fund manager and Buffett expert Whitney Tilson. “I don’t think it’s a bad bet, as a Berkshire shareholder I am happy he owns Apple.”