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Hedge Fund and Insider Trading News: Ray Dalio, Elliott Management, Estee Lauder Companies Inc (EL), Avid Bioservices Inc (CDMO), Good Times Restaurants Inc. (GTIM), and More

Bridgewater’s Dalio Sees 70 Percent Chance of Recession Before 2020 (Reuters)
CAMBRIDGE, Mass. (Reuters) – Billionaire investor Ray Dalio, who founded world’s largest hedge fund Bridgewater Associates, thinks there is a relatively high chance the U.S. economy will stumble into a recession before the next presidential election in 2020. Dalio said the U.S. economy is not currently in a bubble. But he reasoned that it might not take long to get there and then to move on to a “bust” phase. ”I think we are in a pre-bubble stage that could go into a bubble stage … The probability of a recession prior to the next presidential election would be relatively high, maybe 70 percent, Dalio said during an appearance at the Harvard Kennedy School’s Institute of Politics.

Elliott Views $2 Billion Bid for Fidessa as Too Low (Bloomberg)
Activist investor Elliott Management Corp., having acquired a stake in Fidessa Group Plc, believes that a $2 billion bid from Temenos Group AG undervalues the U.K. computer-software provider, according to people familiar with the matter. The hedge fund run by billionaire Paul Singer is taking the stance that Fidessa could fetch a higher price from other software makers and private equity firms, said the people, asking not to be identified because the matter is private. It doesn’t currently plan to oppose the deal, but believes there are other potential buyers and wants the company to be open to rival offers, the people said.

Warren Buffett Thinks the ‘Elite’ Have Wasted $100 Billion Ignoring His Best Investment Advice (Business Insider)
Warren Buffett‘s Berkshire Hathaway will publish its annual letter to shareholders on Saturday. The letter always covers a bunch of topics, with the 2017 edition touching on everything from stock buybacks to Buffett’s favorite book of 2016. But many readers are most interested in Buffett’s words of wisdom. With that in mind, we thought we’d revisit some investing advice from Berkshire Hathaway’s annual letter to shareholders in 2017. “Over the years, I’ve often been asked for investment advice, and in the process of answering I’ve learned a good deal about human behavior,” Buffett said in the letter.

Billionaire Hedge Fund Manager David Tepper is a ‘Strong Contender’ to Buy the Carolina Panthers (CNBC)
Billionaire hedge fund manager David Tepper is a “strong contender” to buy the NFL’s Carolina Panthers, according to NFL Network’s Mike Garafolo. Tepper is a minority owner of the Pittsburgh Steelers, as well as founder and president of Appaloosa Management. The hedge fund has earned Tepper billions, with Forbes estimating his net worth at more than $11 billion.

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