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Hedge Fund and Insider Trading News: Eddie Lampert, Point72 Asset Management, Constellation Brands, Inc. (STZ), Fred’s, Inc. (FRED), and More

Sears Directors Tap Evercore to Examine Former CEO Lampert’s Deals -Sources (Reuters)
(Reuters) – Two Sears Holdings Corp SHLDQ.PK board directors have hired investment bank Evercore Inc (EVR.N) to scrutinize deals that were led by former Sears Chief Executive Eddie Lampert with the U.S. retailer before it filed for bankruptcy protection, people familiar with the matter said on Friday. The deals, including separations of Sears’ businesses and real estate, may come under examination in bankruptcy proceedings, with creditors claiming the transactions stripped the retailer of valuable assets. Billionaire Lampert is the largest shareholder and creditor of Sears through his hedge fund, ESL Investments Inc.

Steven Cohen’s Point72 Picks Up Sydney Fundie (AFR.com)
Point 72 Asset Management, the $US12.4 billion hedge fund run by famed US hedge fund manager Steve Cohen has made a key hire. Omkar Joshi, who has until now covered the financial sector at Regal Funds Management, is finishing up at the Sydney hedge fund this week and will assume his role at Point72 as an Australian equities portfolio manager. Point 72 began scoping for local talent last year, as reported by Street Talk and set up its Sydney office earlier this year.

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Billionaire Hedge Fund Manager Ray Dalio Says Invest 5-10% in Gold; Here’s Why (FinancialExpress.com)
Amid heightened volatility in domestic as well as global stock market, even as investors look to tweak their asset allocation, billionaire hedge fund manager Ray Dalio says that gold should form a part of every portfolio. In an interview to ET Now, Ray Dalio, the founder of the world’s largest hedge fund, Bridgewater Associates said that explained the importance of diversification into various asset classes. “Gold is a diversifying asset and should make for 5-10% of a person’s portfolio. This share could go up later into the cycle,” he said.

Athenahealth Confident About Reaching Deal Within Two Weeks, Sources Say (CNBC)
Athenahealth is confident it can reach a deal with one of several bidders within two weeks, sources told CNBC. The company has received several bids, the sources said, and there is confidence they will get a deal done. Athenahealth has been exploring options since an unsolicited bid by activist hedge fund Elliott Management earlier this year. CNBC reported last month that interest was coming from two private equity firms and a strategic buyer, but the bids were not then far off the stock price at $131.

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