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Hedge Fund and Insider Trading News: Ray Dalio, Dan Niles, Warren Buffett, Cruiser Capital, Highland Capital Management, Stanley Black & Decker Inc (SWK), Teradyne, Inc. (TER), and More

Ray Dalio, the Hedge Fund Manager Decrying Wealth Inequality, Made $2 billion Last Year (CNBC)
Ray Dalio, the founder of the biggest hedge fund in the world, was the highest-paid hedge-fund manager in the world last year. According to Institutional Investor’s annual Rich List, the Bridgewater Associates founder made $2 billion in 2018. That’s up from $1.3 billion in 2017. Dalio earned about $5.5 million every day, Institutional Investor calculated. Dalio, who is one of the wealthiest people in the world, recently declared the increasing of wealth inequality a national emergency. In an interview with CNBC’s “Squawk Box ” on April 8, he said: “We have to make it a fair game.”

Highland Capital Management Appoints Co-Chief Investment Officer (HedgeWeek)
Highland Capital Management has named Joe Sowin co-chief investment officer (CIO). In the role, Sowin will oversee investment activities for the firm’s multibillion-dollar alternative investment platform with a focus on driving information flow across investment teams and with the firm’s counterparties. Sowin previously served as head of global equity trading. He will continue to manage the firm’s trading operations as co-CIO. “The trading desk functions as a vital information hub,” says Jim Dondero, co-founder and president of Highland Capital Management. “Throughout Joe’s career at Highland, he has excelled at facilitating relationships with trading and research counterparties to maximize that function. This is a well-deserved promotion and a natural progression for Joe that streamlines investment operations to generate alpha for the benefit of our clients.”

Insider Trading Wall Street Trader Panic

Luis Louro / shutterstock.com

Alphabet is a ‘Black Box’ and Isn’t Being Straight with Investors, Says Hedge-Fund Manager Dan Niles (CNBC)

Hedge-fund manager Dan Niles said on Tuesday that the problem with Alphabet isn’t just that it fell way shy of revenue numbers, but that the company didn’t give investors enough of an explanation for the miss. “It’s a black box,” Niles, founding partner at AlphaOne Capital Partners, told CNBC’s Halftime Report. “When something goes wrong, you want an explanation. You’re not getting one.”

Hedge Fund Vor Capital Secures Investment from Borealis Strategic: Sources (Reuters)
BOSTON (Reuters) – Borealis Strategic Capital Partners, which invests in new hedge funds, has written its first check to commit capital to Europe-oriented stock fund Vor Capital, two people familiar with the matter said on Friday. Vor Capital launched a year ago with a plan to invest in mid-sized European internet companies. It is run by Brant Rubin, who previously worked for hedge fund Luxor Capital. Borealis did not answer a call for comment. Vor did not return an email seeking comment.

Exclusive: Shareholders Are King As Activist Cruiser Warns Boards Are Broken (Forbes)
American activist Cruiser Capital has a message for CEO’s and board directors across the country: shareholders are king. Straight-talking Chief Investment Officer Keith Rosenbloom insists boards have forgotten who they are there to represent. And he says the entire system is “broken” due to a lack of “ownership mentality.”

A Corporate Jet Suggested Buffett’s Energy Deal Was in Works Days Before It Was Announced (CNBC)
Warren Buffett took the market by surprise on Tuesday with the announcement that Berkshire Hathaway would take a $10 billion preferred share stake in Occidental Petroleum, contingent on its acquisition of Anadarko Petroleum succeeding. But investors didn’t need to be surprised – they could have made an educated guess the deal was coming since this past weekend, when a corporate jet tracker spotted an Occidental plane landing in Omaha.

SEC Charges Hedge Fund Manager with Misappropriation of $700K (AI-CIO.com)
The SEC has charged a Synchrony Capital hedge fund manager with stealing from the hedge fund to pay for Broadway shows, clothing, jewelry, vacations, and kids’ summer camp fees, among other luxury expenses. According to the charges, which were filed in the US District Court for the District of Massachusetts, Eric Lyons misappropriated approximately $570,000 from the hedge funds he managed. Lyons is also accused of engaging in a fraudulent offering of securities, in which he obtained $300,000 from an investor based on false and misleading statements, in order to replace some of the misappropriated money. In total, the SEC alleges that Lyons raised approximately $700,000 from the misappropriation and securities offering fraud schemes.

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