Hedge Fund and Insider Trading News: Mike Novogratz, David Einhorn, Soros Fund Management, Jana Partners, Coatue Management, Brummer & Partners, Valeo Pharma Inc (VPHIF), Alphabet Inc (GOOG), and More

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Activist Hedge Fund Jana Partners Urges Macy’s to Spin Off e-commerce Unit (New York Post)
Macy’s could make a whopping $14 billion if it sold its e-commerce business, an activist investor claimed on Wednesday. Jana Partners, which has forced changes at other big chains including Outback Steakhouse, Tiffany & Co. and Whole Foods, appears to be encouraging Macy’s to follow Saks Fifth Avenue’s example by separating its bricks and mortar business from its online business, according to reports.

Multi-Strategy Hedge Fund Brummer Navigates Equities and Energy Upheaval (Hedge Week)
Swedish asset manager Brummer & Partners’ flagship multi-strategy hedge fund vehicle edged into positive territory in September, as stock market highs earlier in the month rapidly reversed amid renewed volatility, and commodity prices surged higher. The Brummer Multi-Strategy (BMS) vehicle – which comprises nine hedge fund strategies spanning equity, macro, trend-following and more – saw its SEK-denominated share class rise 0.5 per cent last month, and 0.4 per cent in its USD class. However, on a year-to-date basis the fund is still down 0.4 per cent following losses earlier in the year.

Crypto Billionaire Mike Novogratz Says Sky-High NFT Prices are Not Normal and Investors should be Taking Money Off the Table (Business Insider)
Crypto billionaire Mike Novogratz has said the soaring prices of non-fungible tokens (NFTs) are “not normal” and that it’s a good time to be taking some money off the table. Novogratz said he was bullish about the prospects for NFTs – collectible items secured using crypto technology – but startled about the recent run-up in prices. “Markets don’t go straight up forever,” he said.

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George Soros’ Fund Owns Bitcoin, CEO Confirms (CNBC)
Soros Fund Management, the asset management company founded by billionaire investor and philanthropist George Soros, has revealed that it owns the cryptocurrency bitcoin. The family office owns “some coins … but not a lot,” Dawn Fitzpatrick, CEO and chief investment officer of Soros Fund Management, said in an interview at a Bloomberg event this week.

Leading Hedge Fund Coatue is Backing a Startup Built by Ex-Adyen Employees as its European Push Intensifies, Sources Say (News Nation USA)
New York-based hedge fund Coatue Management has closed its latest deal to back a European startup, on the heels of the investment giant confirming plans to open a physical office in the bloc. The investor has led a round into Dutch card processing fintech Silverflow, three sources familiar with the matter told Insider. Silverflow, which was founded by former staff from Dutch payments giant Adyen, claims it can dramatically improve upon the technology that underpins online card transactions. The startup’s tech streamlines processing by acting as a direct connection to card networks like Visa and MasterCard through an API.





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