Dillard’s Stock Soars 42% After Warren Buffett’s Deputy Reveals 6% Stake (Business Insider)
Dillard’s stock surged as much as 42% on Monday, after Warren Buffett‘s deputy disclosed a nearly 6% stake in the ailing department-store chain. Ted Weschler, who helps Buffett manage Berkshire Hathaway‘s investment portfolio, along with Todd Combs, revealed the personal holding in a Securities and Exchange Commission filing released on Friday. Weschler’s 1.08 million Dillard’s shares jumped in value to about $62 million on Monday. Dillard’s stock had dropped about 40% this year, reflecting the coronavirus pandemic’s devastating impact on physical retailers, as well as investors’ growing concerns about department stores in an increasingly online world.
The Tiger-Seeded Fund That’s Up 100%-Plus This Year (Institutional Investor)
Woodson Capital rides its big bet on Peloton to become one of the year’s top performing hedge funds. Woodson Capital Management is up more than 100 percent for the year through September, according to two individuals who are familiar with the results.This makes the long-short fund one of the top-performing hedge funds this year.The Tiger Seed owes this very healthy return largely to a huge bet made earlier…
Billionaire David Tepper Moves Back To New Jersey – Faced With $120 A Million State Income Tax Bill (CelebrityNetWorth.com)
Back in 2015, billionaire David Tepper moved from New Jersey to Florida. In 2016, he moved his hedge fund, Appaloosa Management there too. In 2017, he made his official state of residency Florida just before a federal deadline that any fees hedge fund managers had kept offshore must be brought onshore and taxed. By moving to Florida, New Jersey, a state with one of the highest personal tax rates in the United States, had no claim on that money. New Jersey wasn’t happy when Tepper moved as he was the largest individual taxpayer in the Garden State.
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Billionaire U.S. investor Dan Och seeks $750 million for SPAC (HedgeCo.net)
The Billionaire Who Stood by Jeffrey Epstein (The New York Times)
The billionaire financier Leon Black, one of Wall Street’s most powerful executives, was facing questions from clients after Jeffrey Epstein was arrested last year on federal sex trafficking charges. The two men had known each other for decades, and investors of Mr. Black’s investment company, Apollo Global Management, wanted to know how close they had been. Such questions were valid, Mr. Black said, according to a transcript of a call with analysts in July 2019.
Hedge Funds, China Should Give More Debt Relief, World Bank Says (Bloomberg)
The Group of 20 nations should extend debt relief to the poorest nations through the end of next year, and hedge funds and China should participate more in the efforts, World Bank President David Malpass said. The recession in the developing world with the exception of China is worse than expected, and the G-20’s Debt Service Suspension Initiative that began in May is only providing shallow relief due to the lack of full participation by the Asian nation and private creditors, Malpass said Monday in an interview on Bloomberg Television with Jonathan Ferro.
Growing M&A Momentum Drives Gains in Rhenman’s Flagship Healthcare Hedge Fund (Hedge Week)
A pick-up in M&A activity within certain healthcare stocks is helping Stockholm-based global healthcare-focused hedge fund Rhenman & Partners Asset Management generate further gains in its flagship equity strategy. The Rhenman Healthcare Equity Long/Short hedge fund advanced 4.36 per cent in its euro-denominated share class during September, which brought its year-to-date return to more than 8 per cent. The strategy’s SEK class meanwhile grew 6.14 per cent last month, and is now up 7.59 per cent since the start of 2020.
Burdened by Data? You’re Probably Using it Wrong (Preqin)
Over the past decade, investment management, banking, and credit firms alike have flocked to data providers like Preqin with the hopes that access to verified data would help them make faster and more informed decisions in their day-to-day deal-making. What many firms have failed to thread the needle on, however, is operationalizing that data and making it a part of their day-to-day workflow. The problem is that access to data isn’t the same as utilization. Most firms have access to verified data providers, but many fail to fully leverage it because data manipulation is a labor-intensive chore.
It’s ‘No Time to Die’ for Hedge-Fund Manager Ulrich’s Big James Bond Bet (The Wall Street Journal)
Hedge-fund manager Kevin Ulrich has a lot riding on the latest James Bond film. But after the coronavirus pandemic destroyed movie-theater attendance and pushed “No Time to Die” out to next year, the odds of a big payday anytime soon are getting longer. Mr. Ulrich’s New York hedge fund, Anchorage Capital Group, is the largest shareholder of the studio that owns the Bond franchise, MGM Holdings Inc. Its hope was that a blockbuster release would increase MGM’s value, while creating publicity that could spark interest from a buyer for the company.
American Hedge Fund Davidson Kempner Looks to Invest in Ailing Peacocks (The Times)
One of the world’s biggest hedge funds is eyeing a deal to prop up part of Edinburgh Woollen Mill by snapping up a stake in its Peacocks chain. It has emerged that Davidson Kempner, the American fund, is in talks about investing in the fashion brand, which is the struggling retail conglomerate’s biggest subsidiary.
Irobot Corp (IRBT) CEO Colin M Angle Sold $3 million of Shares (Guru Focus)
CEO of Irobot Corp., Colin M Angle, sold 33,520 shares of IRBT on 10/09/2020 at an average price of $89.66 a share. The total sale was $3 million. iRobot Corp designs and sells small, artificially intelligent consumer robots. The company’s most successful products include its automatic Roomba vacuum and the floor-mopping Braava. iRobot Corp has a market cap of $2.52 billion; its shares were traded at around $89.83 with a P/E ratio of 26.66 and P/S ratio of 2.15.
The Chief Operating Officer of Auryn Resources is Exercising Options (Analyst Ratings)
Today it was reported that the Chief Operating Officer of Auryn Resources (AUG), Michael Henrichsen, exercised options to sell 196,900 AUG shares for a total transaction value of $558.3K. This recent transaction decreases Michael Henrichsen’s holding in the company by 18% to a total of $928.8K. In addition to Michael Henrichsen, 5 other AUG executives reported Sell trades in the last month.
Starbucks Corp (SBUX) president and ceo Kevin R Johnson Sold $9.7 million of Shares (Guru Focus)
President and CEO of Starbucks Corp., Kevin R Johnson, sold 107,762 shares of SBUX on 10/09/2020 at an average price of $90.08 a share. The total sale was $9.7 million. Starbucks Corp is the roaster, marketer and retailer of specialty coffee in the world, operating globally. It sells a variety of coffee and tea products. It sells goods and services under brands including Teavana, Tazo, and Seattle’s Best Coffee.
