Hedge Fund and Insider Trading News: Ray Dalio, Greg Coffey, Whitebox Advisors, Glenview Capital Management, Effissimo Capital Management, Cortexyme Inc (CRTX), Skillz Inc (SKLZ), and More

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Billionaire Investor Ray Dalio Says There’s a Good Chance the US will Outlaw Bitcoin Altogether – Just Like It Once Banned Gold (Business Insider)
Ray Dalio, the founder of the world’s biggest hedge fund, has raised concerns the US government could ban bitcoin altogether if it becomes too successful. Dalio told Yahoo Finance the history of money suggested policymakers would want to stamp down on alternative currencies that could challenge the dominance of the dollar. “I think that it would be very likely that you will have it under a certain set of circumstances outlawed the way gold was outlawed,” he said, referring to the government’s move to ban people from privately holding gold in the 1930s.

Hedge Fund Unloads $133M of Tenet Shares (BeckersHospitalReview.com)
Glenview Capital Management, the hedge fund run by Larry Robbins, has a 12.9 percent stake in Tenet Healthcare after recently selling shares of the Dallas-based company, according to a Securities and Exchange Commission filing. Glenview sold 2.5 million shares of Tenet, a 65-hospital system, on March 22 for $53.3 per share, bringing in a total of $133.25 million.

‘Wizard of Oz’ Greg Coffey Pays $50 Million-Plus for David Levinson’s New York Townhouse (The Wall Street Journal)
Australian hedge-fund manager Greg Coffey, nicknamed the “Wizard of Oz” for his impressive investor returns, has bought an Upper East Side townhouse for more than $50 million, according to two people familiar with the deal. The seller is David Levinson, a major New York real-estate developer. The six-story townhouse, located on East 69th Street, dates to the 1920s and is more than 16,000 square feet, records show. Mr. Levinson purchased it in 2004 for $9.5 million. Real-estate agent Adam Modlin of Modlin Group represented both sides of the transaction, which was done completely off-market.

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Hedge Fund Effissimo Increases Stake in Japanese Chipmaker Sanken to 19.9% (Reuters)
TOKYO, March 25 (Reuters) – Singapore-based hedge fund Effissimo Capital Management said on Thursday its stake in Japan’s Sanken Electric Co would increase to 19.93% as a result of a tender offer. Effissimo, which already held nearly 10% of Sanken, had planned to buy an additional 20% of the power-management chipmaker through the tender offer that closed on Wednesday, but only managed to get half of that.

Hedge Fund Short Sellers Boosted After Staggering Cineworld Losses Send Shares Plummeting (Hedge Week)
Cineworld, a long-standing target of hedge fund short sellers, saw its share price plummet on Thursday after the group slumped to an eye-watering USD3 billion pre-tax loss last year as a result of the coronavirus pandemic. The beleaguered global movie theatre chain fell by 10 per cent after publishing its preliminary 2020 annual results, boosting those hedge funds taking a bearish stance against the FTSE 250-listed firm. Polygon Global Partners, Adelphi Capital, AHL Partners, New Holland Capital, and Whitebox Advisors are all holding short positions in Cineworld, according to regulatory disclosures.

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