Hedge Fund and Insider Trading News: Prem Watsa, Toscafund Asset Management, Coatue Management, Twilio Inc (TWLO), Plug Power Inc (PLUG), and More

Billionaires Can’t Stop Buying These 3 Canadian Stocks (MSN Money)
Billionaires who’ve created their wealth through savvy investments deserve special attention. After all, these investors have spent decades honing their craft and digging into companies to uncover lucrative opportunities. They meet the definition of “smart money.” With that in mind, here are three stocks that billionaire investors have been scooping up over the past few months. Billionaire 1: Prem Watsa: Canada’s most famous investor has been betting on his own company. In a recent interview with the press, Watsa said his insurance/holding corporation, Fairfax Financial Corp. (TSX:FFH), was “ridiculously cheap.”

Hedge Funds Pocket €1.5 Billion as Wirecard Goes Bust (Reuters)
LONDON (Reuters) – Coatue Management and nine other hedge funds likely earned more than 1.5 billion euros (£1.4 billion) this week on bets against Wirecard (WDIG.DE) after the German payments firm collapsed on Thursday. Wirecard shares crashed to 2.5 euros on Thursday from 104.5 euros a week ago, before the company revealed a $2.1 billion hole in its accounts. That has landed Coatue Management, the hedge fund with the largest short position, a 271 million euro profit on paper, according to Reuters calculations.

Intu Short Bets Set to Pay Off for Hedge Funds as Debt-laden Retail Operator Calls in Administrators (Hedge Week)
Toscafund Asset Management, the long-running equity-focused hedge fund firm led by ex-Tiger Management star Martin Hughes, and Kite Lake Capital Management, the hard catalyst event driven fund, are two well-known UK hedge funds that have made bearish bets against the troubled retail operator in recent weeks. Citadel and Polar Capital are two other high-profile hedge funds that also held positions against Intu during the second quarter of this year.

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The 2020 Preqin Private Capital Fund Terms Advisor (Preqin.com)
The 2020 Preqin Private Capital Fund Terms Advisor is the ultimate guide to private capital fund terms and conditions. It draws upon extensive research and contains analysis, benchmarks, investor opinions, listings of funds and their terms (on an anonymous basis), and more. The 14ᵗʰ edition of The Preqin Private Capital Fund Terms Advisor (FTA) compiles data from a broad range of sources – our current databases, historical datasets, and LP surveys – to deliver the industry’s most comprehensive data and intelligence on the private capital fund terms universe. In addition to providing data on key topics, such as fees, governance, and transparency.

Terry Smith Takes Aim at Overvalued Stocks as New Hedge Fund Readied (MoneyMarketing.co.uk)
Terry Smith may be venturing in hedge fund waters, new documents suggest. Betting against overvalued companies- or shorting stocks – defies the star fund manager’s style as we know it. However, Fundsmith registered a new fund, the Fundsmith Long/Short Master Fund, with the US Securities and Exchange Commission on June 11. This step allows marketing of the fund, which is incorporated in the Cayman Islands, to US investors.