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Hedge Fund and Insider Trading News: Jim Chanos, Ken Griffin, Marc Lasry, York Capital Management, GlaxoSmithKline PLC (GSK), Yelp Inc (YELP), and More

Chanos shorts Envision, Says KKR May Get Cold Feet on Deal (Reuters)
NEW YORK (Reuters) – Hedge fund manager Jim Chanos says he is betting that the stocks of physican practice management companies Mednax (MD.N) and Envision Healthcare (EVHC.N) will fall and said that private equity group KKR might get cold feet on a planned deal for Envision. Chanos, whose Kynikos Associates tends to sell stocks short, warned there is a chance that KKR (KKR.N) could back out of the roughly $10 billion deal.

Hedge Fund Billionaire Griffin Knocks Bitcoin, Says Not a Single One of his Managers has Wanted to Buy It (CNBC)
Citadel‘s Ken Griffin is not a fan of digital currencies and bitcoin. “I don’t have a single portfolio manager [of mine] who has told me we should buy crypto, not a single portfolio manager,” he said at the Delivering Alpha Conference in New York on Wednesday. “I have a hard time finding myself wanting to be in a position of being a liquidity provider for a product I don’t believe in.” The investor said he wishes the younger generation would focus on more productive activities than invest in digital currencies. “I still scratch my head” about bitcoin, he added.

Insider Trading Eyeglasses

Alex Oakenman / shutterstock.com

Hedge Fund York Capital Joins Race for Abraaj Assets (Bloomberg)
Another American bidder is joining the race for the rights to manage a network of emerging-market funds up for grabs in the liquidation of Dubai-based private equity firm Abraaj Group. New York-based hedge fund York Capital Management, run by Jamie Dinan, is said to have placed a $45 million offer for Abraaj’s asset-management platform, which will give the winner easy access to more than a dozen developing countries across the world where the collapsing company has offices.

Hedge Fund Billionaire Marc Lasry Says Bitcoin (BTC) Price Could Reach $40,000 (CryptoGlobe.com)
On Wednesday (18 July 2018), in an interview with CNBC’s pre-market morning news show “Squawk Box”, Marc Lasry, the billionaire co-founder and CEO of hedge fund Avenue Capital Group (and co-owner of NBA team Milwaukee Bucks) said that he could see the Bitcoin (BTC) price rising to $40,000. Speaking to CNBC from the “Delivering Alpha 2018” conference (sponsored by CNBC and Institutional Investor), the billionaire investor said that he could envision the Bitcoin price reaching $40,000 as Bitcoin gains wider adoption and it becomes easier to trade.

Hedge Fund Firm ‘Tetras Capital’ Thumbs Down for Ethereum but Constructive on Bitcoin (EconoTimes.com)
The New York-based hedge fund firm, ‘Tetras Capital’ seems to have perfectly timed on a bearish call on ether and opined constructively on bitcoin that has more upside potential. Please be noted that from BTCUSD price stability since last 4-5 months and 3-4 weeks of vigorous bullish swings (price spiked from the lows of $5,780 to today’s $7,561 levels, i.e. almost 30%), it seems that Bitcoin’s price has resumed its late 2017 rallies; it now surpasses the $7.5k mark. Whereas the ether price is still tepid that is in the bearish mood on the regulatory framework, the SEC deciding Ethereum is not a security.

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