Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Hedge Fund and Insider Trading News: Elliott Management, Greenlight Capital, Opko Health Inc. (OPK), Galenfeha Inc (GLFH), and More

Elliott Turns to Snail Mail in NXP Mom-and-Pop Investor Campaign (Reuters)
(Reuters) – Activist hedge fund Elliott Management Corp launched a campaign on Thursday to convince NXP Semiconductor NV (NXPI.O) mom-and-pop investors to shoot down a $38 billion deal to sell the semiconductor company to larger peer Qualcomm Inc (QCOM.O). The campaign involves posting glossy presentations to tens of thousands of individual NXP shareholders, as opposed to institutional investors such as mutual funds. Such mom-and-pop investors account for an estimated 11.6 percent of NXP’s shareholder base.

David Einhorn’s Greenlight Capital Lost 6% in January (The Wall Street Journal)
David Einhorn’s Greenlight Capital lost roughly 6% in January, extending a multiyear period of weakness for the hedge fund. The losses range from 5.8% to 6.6% depending on the fund, according to a letter sent to investors Wednesday, with Greenlight hurt by the portfolio of stocks it had bet against rising more than two times the S&P 500, Greenlight wrote.

Wall Street Stocks Market Insider Trading

Rawpixel /

Steve Cohen Needs to Prove Himself to Wall Street All Over Again (Bloomberg)
There’s a low-slung glass and brick building in Stamford, Conn., steps from Long Island Sound, that once housed one of the most successful hedge funds ever. Inside, the halls are still adorned with works by Jeff Koons and Jasper Johns. The trading room—where phones blink instead of ring—is still kept at 69F to keep traders awake. And Steve Cohen still sits in the middle of it, watching the tape and making his bets. In February the billionaire trader will begin to rebuild his firm, taking in client capital after a two-year ban from managing money for other people. It’s not a banner day for regulators, given that the government spent the better part of a decade going after Cohen. One prosecutor called his former firm, SAC Capital Advisors, a “criminal enterprise” that produced some of its returns by trading on inside information.

Corvex’s Keith Meister Launches Energen Proxy War (TheStreet)
Corvex Management LP‘s Keith Meister on Wednesday escalated his effort to drive a sale of Energen Corp. (EGN – Get Report) by nominating a minority-slate of four dissident director candidates to the company’s nine-person board. “Today we are nominating four highly-qualified, independent director candidates who will bring fresh perspectives and relevant experience along with a simple mandate—to run the company in the best interests of all shareholders,” Meister said in a statement. The escalation comes after Meister, a 10% shareholder, had been urging Energen to hire a bank to explore strategic alternatives such as a sale. He said in October that the case for M&A is “simply too compelling to ignore” and he noted that significant benefits could be unlocked through consolidation.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.