Hedge Fund and Insider Trading News: Paul Singer, Tide Point Capital, Tenzing Acquisition Corp. Units (TZACU), Corcept Therapeutics Incorporated (CORT), Pure Bioscience, Inc. (PURE), and More

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Billionaire Singer Gets Into an Italian Staring Contest (Bloomberg)
Amos Genish, Telecom Italia SpA’s CEO, seems to have a message for hedge fund billionaire Paul Singer: “Blink, I dare you.” The veteran telecoms executive has had a turbulent year at the helm of the former Italian national carrier. Singer’s activist fund, Elliott Management Corp., acquired a 9 percent stake in Telecom Italia and set about agitating for change. In April, it managed to oust most of the board appointees of Vivendi SA, the French media conglomerate that owns 24 percent of the shares, and replace them with a lineup of Elliott-backed directors.

Hedge Fund Tide Point Shutting Down After Six Years: Sources (Reuters)
BOSTON (Reuters) – Hedge fund Tide Point Capital Management is shutting down due to the majority owner’s personal wishes, the latest casualty in the $3 trillion industry which has faced increasing challenges in raising money and delivering top returns, two sources with knowledge of the move said on Wednesday. A spokesman for the fund declined to comment.

Elliott Reviving Push to Overhaul Hyundai Motor, Letter Shows (Bloomberg)
Elliott Management Corp., the activist fund that forced Hyundai Motor Group to scrap an $8.4 billion deal earlier this year, is resuming its push for changes at the South Korean automotive giant. In a letter from Elliott to Hyundai seen by Bloomberg News, billionaire Paul Singer’s fund called for the merger of some key units to bolster shareholder value and improve the group’s structure. One option is for car-parts maker Hyundai Mobis Co. to sell its after-sale service business to affiliate Hyundai Motor Co., and then merge what’s left of Mobis with logistics affiliate Hyundai Glovis Co., according to the Aug. 14 letter.

The Smartest People on Wall Street Are Buying These 3 Stocks — Should You Follow? (The Motley Fool)
It’s always interesting to see what the titans of Wall Street are doing with their cash. And sometimes you’ll want to follow along for the ride. But other times the risks are too high for most investors. Here’s a little help figuring out if you should mimic George Soros, David Tepper, and Warren Buffett with their investments in Apple Inc. (NASDAQ:AAPL), Caesars Entertainment (NASDAQ:CZR), and Seritage Growth Properties (NYSE:SRG).

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