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Hedge Fund and Insider Trading News: Nelson Peltz, Leon Cooperman, Howard Marks, Facebook Inc. (FB), Oppenheimer Holdings Inc (OPY), and More

Activist Investor Peltz Says GE CEO Culp is Doing a Good Job (Reuters)
NEW YORK (Reuters) – Lawrence Culp has held the top job at General Electric (GE.N) for nearly one year and on Thursday one of the industrial conglomerate’s biggest shareholders, activist investor Nelson Peltz, gave him a shout-out for being “fantastic.” “Larry Culp is a star,” said Peltz who runs $9-billion hedge fund Trian Partners, adding “he knows how to run a business. He is fantastic.”

Leon Cooperman Fears Bear Market If Elizabeth Warren Wins: ‘They Won’t Open the Stock Market’ (CNBC)
NEW YORK — Hedge fund titan Leon Cooperman said he’s concerned about a move to the left in the political landscape, which could harm the economy and the stock market. “There’s unquestionably a shift to the left in this country,” Cooperman said at the Delivering Alpha conference presented by CNBC and Institutional Investor. “They won’t open the stock market if Elizabeth Warren is the next president,” he joked.

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Billionaire Investor Picks Not Losing Money Over Fear of Missing Out (Bloomberg)
It may be a good idea to be a bit risk-averse, Oaktree Capital Group Co-Founder Howard Marks said in a wide-ranging conversation with Michael Milken on Thursday. When investors think about how to balance risk versus return, they need to think about whether they’ll want to change their current allocations based on what’s going on in the world — and if so, whether it should be done immediately, Marks said at the Milken Institute Asia Summit in Singapore.

Hedge Fund Veteran to Spearhead New Amram Bond Fund (Portfolio Adviser)
Independent wealth management firm Amram Capital has launched Princes Park Capital, a high-yield fixed income long/short portfolio with hedge fund veteran Georges Gedeon as its chief investment officer. Having started his career in investment banking in 1989 with Merrill Lynch and then Goldman Sachs, Gedeon switched to asset management in 2002 – first as a portfolio manager at GLG Partners, before going on to launch his own funds – Mereor Investment Management & Advisory, Millennium Capital and Antler Capital Partners.

AT&T’s Stephenson is Not Focused on Selling DirecTV, which could Spur More Pressure from Elliott to Replace Him (CNBC)
Hedge fund Elliott Management is already turning the screws on AT&T, just 10 days after disclosing a $3.2 billion stake and calling for recommendations for improving leadership and operations. But AT&T is not yet feeling the pain. AT&T is not focused on divesting or selling DirecTV, sources tell CNBC. Both options are being pushed by Elliott, which believes a Dish-DirecTV merger can get done in today’s regulatory environment even though the deal was struck down in 2002, according to people familiar with the matter.

Fashion Mogul Says Hedge Fund Manager Trying To Destroy Him Through The New York Times, Which Hasn’t Published An Article About Him In A Year-And-A-Half (Deal Breaker)
The soap operatic story of Louis Bacon’s dispute with his Bahamian neighbor has played out primarily on Page Six (and, you know, in the courts). Rife as it is with naked, dead gardeners; military-grade speakers; mysterious fires; and henchmen named “Bobo” and “Toggi;” as well as accusations of dolphin murder, attempted human murder, Ku Klux Klan membership, narcotics dealing and insider-trading, this is where it belongs. But, according to Bacon’s rival, Canadian affordable fashion mogul Peter Nygard, the hedge fund manager is working with some more elevated journalists in yet another effort to destroy him.

Hedge Fund Performance Update: August 2019 (Preqin.com)
Amid growing fears of a worldwide market decline, the Preqin All-Strategies Hedge Fund benchmark lost 0.61% in August, pushing the 2019 YTD return down to +7.67%. CTAs gained 2.94% for the month to become the best performing fund type for the year so far. Among top-level strategies, macro strategies were the top performers in August with a return of +2.51%. This factsheet presents the hedge fund performance benchmarks for August 2019. Plus, the 2019 YTD and 12-month return figures across all top-level strategies, structures, denominations and size classifications.

Hennessee Hedge Fund Index down -1.20% in August (+6.99% YTD) (Opalesque.com)
Hennessee Hedge Fund Index decreased -1.20% for the month (+6.99% YTD), while the S&P 500 was down -1.81% (+16.73% YTD), the Dow Jones Industrial Average decreased -1.87% (+13.00% YTD), and the NASDAQ Composite Index lost -2.60% (+20.00% YTD). Bonds were positive for the month, as the Barclays Aggregate Bond Index increased by +2.59% (+9.11% YTD), said Hennessee Group. According to the report, the top three strategies for the month were Convertible Arbitrage (+1.37%), Market Neutral (+1.36%) and Opportunistic (+1.04%).

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