Hedge Fund and Insider Trading News: Jim Chanos, Michael Burry, Nicolai Tangen, Bill Ackman, Said Haidar, Point72 Asset Management, Coatue Management, Core Molding Technologies, Inc. (CMT), WESCO International, Inc. (WCC), and More

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Jim Chanos reduces size of Tesla short: Bloomberg News (Reuters)
(Reuters) – Jim Chanos, who has been short on Tesla Inc’s stock for five years, has reduced his bet against the electric carmaker, the short-seller told Bloomberg News on Thursday. Chanos told Bloomberg he has never met or had a conversation with Elon Musk, but if they were to meet he would say “job well done so far.”

‘Tiger Cub’ Hedge Fund Coatue Surges to 52% Gain (USA-Vision)
Coatue Management by Philippe Laffont recorded a gain of 52% this year thanks to bets on electric car maker Tesla and against Wirecard, the German group of fraudulent payments, making it one of the big hedge funds in the world in 2020. Coatue is one of the largest long-short hedge funds, which means that it places bets on some stocks that are doing well and others that are falling, and Mr. Laffont is one of the most successful. important “Little tigers»Who cut their teeth at Julian Robertson’s famous hedge fund, Tiger Management.

‘Big Short’ investor Michael Burry Reveals He’s Short Tesla, Tells Elon Musk to Issue More Stock at Its ‘Ridiculous Price’ (Business Insider)
The famed investor Michael Burry has revealed that he’s short Tesla and advised CEO Elon Musk to issue more shares while they sit what Burry called their “current ridiculous” levels. Tesla shares have rallied more than 575% this year, boosted more recently by the company’s coming inclusion in the S&P 500 and fading profitability concerns. Some of Wall Street’s more bearish analysts have turned more optimistic toward the stock, and favor from waves of retail investors has further supported Tesla’s lofty valuation.

Insider Trading Back

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Tangen to Permanently Divest from AKO Fund in January 2021 (Central Banking)
Nicolai Tangen, the new chief executive of Norway’s Government Pension Fund Global, will permanently divest from the AKO hedge fund no later than January 1, said Norges Bank in a statement today (December 3). On August 24, the central bank announced Tangen would sell his holdings in AKO Capital, the hedge fund he founded in London in 2005. This sale will apply in perpetuity, Norges Bank said. Tangen also said his personal wealth will be held as bank deposits.

Point72 Quant Consolidation Spurs Matthew Granade’s Departure (Bloomberg)
Steven Cohen is consolidating the systematic operations of his $19 billion hedge fund firm and one of its most prominent executives will exit after five years. Cohen is moving his Fusion quantitative portfolio into Point72 Asset Management’s computer trading business, Cubist Systematic Strategies, according to a memo to employees Wednesday. Matthew Granade, who oversaw Fusion, will leave along with his deputy.

Ackman’s Pershing Square Holdings Fund Up 62.8% for the Year (Reuters)
BOSTON (Reuters) – Billionaire hedge fund manager William Ackman, who cautiously hedged his portfolio before the historic market sell-off in March, has extended his gains to 62.8% for the year so far. Last month, Ackman’s publicly traded Pershing Square Holdings portfolio gained 13.4%, lifting the $11.4 billion portfolio to a net gain of 62.8% in the first 11 months of 2020, according to a performance review.

COVID Vaccines Have Nasty Side Effect For Hedge Fund (Deal Breaker)
Without a little alleged help, it’s proven harder for hedge fund managers to make money on The Most Important Vaccine In Human History than one might expect. It is, however, one thing to not make money, or not as much money as might have been possible and you might have liked, on failing to predict just how quickly the Pfizers and Modernas of the world would figure this thing out. It’s quite another thing to lose all of those frothy pandemic profits you thought you’d booked betting on the end of the world. Just ask Said Haidar.

Dyal Capital in Talks to Combine With Owl Rock Capital (The Wall Street Journal)
Dyal Capital Partners is in talks to merge with Owl Rock Capital Partners LP, part of a complicated deal with a special-purpose acquisition company that would take them public, the firms said Wednesday. Dyal and Owl Rock said they have been discussing a deal with a special-purpose acquisition company called Altimar Acquisition Corp. The Wall Street Journal earlier reported on the transaction, which would value the combined asset managers at about $13 billion, according to people familiar with the matter.

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