Secret Recording, Fallen Stock Stoke Hedge Fund’s Deal Fight (BloombergQuint)
(Bloomberg) — Hedge fund manager Jason Mudrick was already thinking about suing Globalstar Inc. in late April when he flew to Louisiana to meet with the satellite company’s chief executive officer. Globalstar had just announced it was essentially buying assets controlled by its CEO, James Monroe III, in a $1.65 billion deal. Mudrick, the company’s biggest outside shareholder, thought the satellite communications provider was overpaying in the deal and stripping value from outside shareholders like himself.
Billionaire Investor Quietly Buying Restaurant Brands International Inc (Seeking Alpha)
No doubt, Ken Griffin is one of the best stock-pickers on Earth. At the age of 22, Griffin founded his first hedge fund Citadel LLC. By 34, he was the youngest self-made individual on the Forbes list of richest people in the world. Thanks to that type of performance, Griffin has earned a place among investing legends like Warren Buffett, George Soros, and Julian Robertson. For these reasons, I always pay close attention to what stocks Griffin is buying. And right now, he’s making some interesting bets on the fast food industry: a 4.6 million share purchase in Restaurant Brands International Inc (NYSE:QSR).
Carolina Panthers Owner Says Sports Betting Is Bad, Also Thinks It’s Good (TheLines.com)
David Tepper hopes you’re watching his mouth move instead of his hands calling up his ETrade account. (That’s what hedge fund bosses use, right?) Last we heard from the new owner of the Carolina Panthers, Tepper reached into his gut to share a “feeling” that sports betting will drive down NFL TV ratings. That being the case, we can only guess Tepper wants nothing to do with legal sports betting. Gambling clearly is going to hurt the NFL’s primary revenue stream and shrink his $255 million check from the league.
OPINIONSBill Miller Says Bitcoin Is Interesting But That Most Cryptocurrencies Are Worthless (Hacked.com)
According to Bill Miller, Bitcoin is, “interesting but that most cryptocurrencies worthless.” He said this in an appearance live on Bloomberg’s show, “What’d You Miss?” Despite the seeming negativity of his comment, Miller went on to espouse a highly informed and rationally bullish case for the long-term value of Bitcoin. This defense of Bitcoin’s true value worth arrived as a retort to a condescending question asked by host Joe Weisenthal, specifically, “have you ever thought about how one would go about forming a fair valuation of Bitcoin?”
MOVES-Hedge Fund Man Group Names New Co-Head of Responsible Investment (Reuters)
July 30 (Reuters) – British hedge fund Man Group on Monday named Jason Mitchell as co-head of responsible investment. Mitchell was previously sustainability strategist at Man Group and a member of the responsible investment committee.