Hedge Fund and Insider Trading News: Michael Burry, Warren Buffett, Two Sigma Advisors, Balyasny Asset Management, Elliott Advisors, Nexstar Media Group (NXST), Hyliion Holdings Corp (HYLN), and More

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Michael Burry Says He was Subpoenaed by the SEC as GameStop Saga Drags on (CNBC)
Famed investor Michael Burry revealed on Twitter that he received a subpoena from the SEC in connection with its investigation into GameStop. “So, who got an SEC subpoena over $GME? Actually, I know who, they’re on my subpoena. With all that’s going on in the world…” he said in a now-deleted tweet on Friday. Burry, who leads Scion Asset Management, shot to fame by betting against mortgage securities before the 2008 crisis and was depicted in Michael Lewis’ book “The Big Short” and the subsequent Oscar-winning movie.

Two Sigma’s Top Cloud Execs Detail the $58 Billion Quant Fund’s Multi-Cloud Strategy that will See it Hire Hundreds of Engineers in the Coming Years (Business Insider)
Two Sigma had a big problem in 2014: the compute power needed for the quantitative fund’s research workflows was 10 times greater than what its data centers could provide. “We said, ‘You know what, we’re not going to build out a 10x physical presence. That’s just enormous, that feels wrong to us,” Camille Fournier, Two Sigma’s head of platform engineering, told Insider.

Pay for Elliott Hedge Fund Staff is Up by Fifth in a Year (The Times)
The British division of one of America’s leading activist hedge funds paid its staff in London £113.3 million last year despite recording a pre-tax loss after paying a £13.5 million fine in France. The salaries for Elliott Advisors’ workforce of just over 100 people rose by more than 20 per cent in 2020, while its three directors were paid £17.8 million, up from £11.4 million in 2019.

Hedge Fund Balyasny Asset Management Doubled Pay in 2020 (eFinancialCareers)
Accounts have been published for Balyasny Europe Asset Management for the year ending December 2020, and they confirm what was known already: Balyasny pays very well indeed. Last year, Balyasny spent £122m remunerating its 94 UK employees (after deducting social security payments), which amounts to an average payment of £1.3m ($1.8m) per head. This is generous, even by hedge fund standards, and was an increase of 103% on Balyasny’s average London pay for 2019.

Live and Let Fly: Short Sellers Trounced as ‘James Bond Effect’ Sends Cineworld Shares Soaring (Hedge Week)
Hedge fund short sellers betting against Cineworld have seen their bearish positions tank after the global cinema chain’s share price rocketed on the back of the new James Bond movie release. AHL Partners, Polygon Global Partners, New Holland Capital and Adelphi Capital are among the hedge funds currently holding negative wagers against the London-headquartered FTSE 250-listed firm, according to regulatory disclosures made to the Financial Conduct Authority. Highbridge Capital Management is also holding a 1.14 per cent net short bet, while Whitebox Advisors is positioned short by some 1.40 per cent.






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