Hedge Fund and Insider Trading News: Ray Dalio, Bill Ackman, Sixteenth Street Capital, Alden Global Capital, Parvus Asset Management, Linamar Corporation (LIMAF), Boyd Gaming Corp (BYD), and More

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Chinese Yuan will Become a Top Reserve Currency Sooner than Expected, Says Ray Dalio (CNBC)
The Chinese yuan will become a global reserve currency sooner than most people expect, said billionaire investor Ray Dalio. The U.S. dollar is currently the world’s reserve currency, but billionaire hedge fund manager Dalio said the yuan’s role could grow much bigger in the next few years.

Boomer Sentiments Continue: Bill Ackman and Brett Heath Join the Yelling Parade (Investing.com)
Cryptocurrency critics have further asserted their concerns over the future of Bitcoin and other cryptocurrencies. According to the CEO of Metalla Royalty and Streaming, cryptocurrencies will be responsible for the next financial crisis. Similarly, Bill Ackman posits that he is not investing in Bitcoin because he perceives it as a purely speculative asset. The billionaire has not written off cryptocurrencies entirely, citing Helium, a project aiming to develop decentralized wireless networks, as having potential.

Hedge Fund Owner Builds €1 Billion Stake in Ryanair (Business Post)
Edoardo Mercadante, the owner of the British hedge fund Parvus Asset Management, has built a near billion euro position in Ryanair through financial derivatives known as equity swap, stock exchange filings show. At the close of trading last Friday, Mercadante’s firm held 4.98 per cent of the economic interest in Ryanair, which is equivalent to nearly €940 million worth of shares at the current price of €16.85.

Is Infamous Hedge Fund Stripping or Saving Papers? And Murphy’s Awful Advice (Journal Inquirer)
Nearly everyone wanted Tribune Publishing Co. to be purchased by someone other than Alden Global Capital, since the hedge fund is seen as an “asset stripper.” Indeed, months before acquiring the shares of Tribune it didn’t already own, Alden had managed the neat trick of stripping the Hartford Courant of its own building, leaving Connecticut’s largest newspaper homeless.

This Hedge Fund Manager Sees Sea Limited At Over $600 A Share (Forbes)
At the recent Sohn Hong Kong conference, hedge fund managers from Asia presented new ideas for investors. Among the presenters was Rashmi Kwatra, founder and CIO, Sixteenth Street Capital, who presented her thesis for Sea Limited, a conglomerate in Southeast Asia. Sixteenth Street first invested in Sea at the end of 2018 when it was trading at $13 per share, but now it trades at more than $200 per share. Kwatra sees a pathway to more than $600 per share in the next few years. Rashmi describes Sea as a “phenomenal business with access to the leaders in Southeast Asia’s consumer digital spaces.”

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