Hedge Fund Legend Leon Cooperman is Investing in the Marijuana Industry – and it’s Another Sign the Sector is Heating Up (Business Insider UK)
Hedge fund billionaire Leon Cooperman is investing in the marijuana industry. He’s the biggest name so far to purchase stock directly in a marijuana cultivator. Cooperman posed a series of detailed questions to Green Thumb Industries (GTI) CEO Ben Kovler during the company’s Q2 earnings call on Tuesday afternoon. GTI is a publicly-traded chain of marijuana dispensaries, cultivators, and distributors with licenses to operate in a number of states where marijuana is legal.
The Cannibal of Sears (Axios.com)
Eddie Lampert, a billionaire Connecticut hedge fund manager, has been dismantling Sears piece by piece for 13 years. Driving the news: Now, critics say Lampert is on the verge of inflicting a death blow to the once-iconic, 125-year-old department store chain. He’s proposing to personally buy Sears’ last consequential piece – Kenmore appliances. Kenmore is a “final, egregious act to remove an asset from an estate that will eventually go bankrupt,” Mark Cohen, a former CEO of Sears Canada, tells Axios.
Investing Guru Philip Hempleman Goes Hell for Leather on Advanced Micro Devices (AMD) and Alibaba (BABA) Stocks (SmarterAnalyst.com)
Philip J. Hempleman colloquially known as ‘Phil’ is the founding partner of Ardsley Partners and current Managing Partner. He oversees all investment activities- so no doubt he had a direct hand in the latest moves involving red-hot chip stock Advanced Micro Devices (NASDAQ:AMD) and Alibaba (NYSE:BABA). The hedge fund legend once managed portfolios for the Oppenheimer Target and Special Strategies, where the firm’s Target Fund became the strongest performing mutual fund from 1981 to 1982. This was before he turned to setting up his own fund back in 1987. Now, with assets under management of $895.315 million, Ardsley splits its investments across four key strategies. The most well-known is the long-biased flagship strategy.
Commentary: Bullish Hedge Fund Managers Continue to Pull Oil Positions (Reuters)
LONDON (Reuters) – Hedge fund managers continued to liquidate their bullish positions in crude and fuels, amid negative sentiment towards petroleum, before prices rallied sharply in the second half of last week. Hedge funds and other money managers cut their combined net long position in the six most important petroleum futures and options contracts by another 49 million barrels in the week to Aug. 20. Fund managers have reduced their net long position in 13 of the last 18 weeks, by a total of 508 million barrels (36 percent), according to an analysis of records published by regulators and exchanges.