Biggest Brazilian Fraud (Allegedly) Produces Massive 0.14% Loss For Angry Hedge Fund (Deal Breaker)
Like angry, delusional rioters impotently rampaging through the streets and government buildings of Brasília, the scandal engulfing retailer Americanas is roiling Brazil. How, exactly, nearly $4 billion disappeared, threatening a century-old institution and the jobs of the tens of thousands of people who work for it, remains unclear. Americanas refers to the situation as a matter of accounting “inconsistencies”—we’re looking in your direction again, PwC! Others suggest that perhaps the board should have been a bit more prying. Still others—shareholders, mainly—are using another word.
Billionaire Ken Griffin is Raising Alarm Over His Desire to Move a 100-Year-Old Home off His $107 Million Miami Estate (Business Insider)
The billionaire Ken Griffin bought a historic Miami property for about $107 million in September. The financier is said to be mulling moving an early-1900s home from the site to city-owned land. Local preservationists are pushing back against the idea, saying it is like “redacting history.” A battle is brewing in Miami’s exclusive Coconut Grove community between the billionaire financier Ken Griffin and local preservationists.
Millennium Taps Another JPMorgan MD (Hedge Week)
Daniel McNeill, the former head of AM derivatives at JPMorgan in London has become the latest managing director to jump ship and defect from the investment bank to London-based multi-strategy hedge fund Millennium, according to a report by eFinancial careers. The appointment of McNeill, who will reportedly soon be installed as Millennium’s new risk chief operating officer based in London, comes hot on the heels of Millennium’s capture of another former JPMorgan MD, Jack Yang, who last month took up a credit strategy role based in New York.
Tuesday 2/7 Insider Buying Report: NEE, PDLB (Nasdaq.com)
On Monday, NextEra Energy’s CFO, Terrell Kirk Crews II, made a $200,053 buy of NEE, purchasing 2,672 shares at a cost of $74.87 each. NextEra Energy Inc is trading down about 0.4% on the day Tuesday. This buy marks the first one filed by Crews II in the past twelve months. And on Friday, CEO Carlos P. Naudon bought $141,180 worth of Ponce Financial Group, buying 15,000 shares at a cost of $9.41 each. Before this latest buy, Naudon made one other buy in the past year, purchasing $14,295 shares for a cost of $9.53 a piece. Ponce Financial Group is trading up about 0.2% on the day Tuesday. Bargain hunters can snag PDLB even cheaper than Naudon did, with the stock changing hands as low as $9.24 at last check today which is 1.8% under Naudon’s purchase price.
$10 Million Bet On This Healthcare Stock? Check Out These 4 Penny Stocks Insiders Are Buying (Benzinga)
GeneDx Holdings: The Trade: GeneDx Holdings Corp. (WGS) 10% owner Mount Sinai Health System Inc acquired a total of 28,571,428 shares at an average price of $0.35. To acquire these shares, it cost around $10 million. CURO Group: The Trade: CURO Group Holdings Corp. (CURO) CEO Douglas Clark acquired a total of 40,000 shares at an average price of $3.82. The insider spent $152.95 thousand to buy those shares.
