Hedge Fund and Insider Trading News: John Paulson, Steve Cohen, RA Capital Management, Tiger Global Management, Norron Asset Management, Eastman Chemical Company (EMN), Ipsidy Inc (AUID), and More

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Billionaire Paulson Who Shorted Subprime Calls Crypto ‘Worthless’ Bubble (Bloomberg)
Ever since John Paulson bet against the U.S. housing market more than a decade ago, people keep asking him about his next big trade. The billionaire hasn’t found anything to rival his massive short, but it’s hard to top the $20 billion that Paulson made for himself and investors when subprime mortgage bonds collapsed and ignited the worst financial crisis since the Great Depression.

Should Investors Worry a Large Novavax Shareholder Cut Position in Q2? (Investorplace)
RA Capital Management is a Bost0n-based hedge fund that invests in healthcare and life sciences companies. It is also Novavax’s (NASDAQ:NVAX) third-largest shareholder. As of April 19, 2021, RA Capital owned 5.1% of NVAX stock. The hedge fund manager’s June 2021 quarterly 13F holdings report with the Securities and Exchange Commission shows that it sold 442,169 shares of Novavax between April and June, reducing its stake by 14%. It now owns 3.4% of Novavax, a position accounting for 8.2% of its overall portfolio.

How Tiger Global is Beating Other VCs, According to 6 Startup Founders Who Took Its Deals (Business Insider)
Earlier this summer, Maria Rioumine sat at her computer screen, brimming with excitement. Less than two weeks before, she didn’t even have a pitch deck for her construction-tech startup, Agora, let alone plans to raise additional money for it. But that didn’t keep investors from calling her anyway. Now she had several term sheets in hand, all from investors she highly respected. One firm stood out from the crowd, she told Insider: Tiger Global Management. “They immediately understood the model and were ready to back us,” she said.

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Norron Alpha Shuts Down (Hedge Nordic)
Stockholm (HedgeNordic) – Norron Asset Management has decided to close down one of its hedge funds, market-neutral equity fund Norron Alpha, exactly five years after launch. Norron Alpha, originating from Norron’s long-only Swedish equity fund Norron Active, is closing down due to weaker-than-expected performance and low investor demand. “Norron has decided to wind up Norron Alpha as we believe conditions do not exist for continuing to manage the fund,” Norron Asset Management writes in a press release. “The background is that Norron Alpha has not developed as desired and due to low demand.” The unitholders of Norron Alpha can swap their Norron Alpha investment to multi-strategy hedge fund Norron Target or can sell their units.

The Slumping Mets Are Booing Their Own Fans…for Booing Them (The Wall Street Journal)
Stars like Javier Báez and Francisco Lindor on Sunday responded to boos at Citi Field by giving their critics a thumbs-down. Those critics have included Mets owner Steve Cohen. New York Mets fans have every reason to be upset about how their team is performing. And, this being New York, they’re not shy about expressing it. The problem is that the fans’ being mad at the players has only made the players mad at the fans, who are now doubly mad. For a franchise long trapped in self-parody, this makes perfect sense.






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