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.
Atlant’s Pure Fixed-Income Fund (Hedge Nordic)
Stockholm (HedgeNordic) – Hedge fund house Atlant Fonder has expanded its fund range with the launch of a Nordic-focused high-yield bond fund. Launched on March 22, Atlant Högräntefond is the first pure fixed-income vehicle under Atlant Fonder’s umbrella, which now houses eight different funds. “On March 22, we started our first fixed-income fund, Atlant Högräntefond,” the team at Atlant Fonder writes in an announcement. “It is important for us not to have to sell bonds in a bad market environment like the market chaos in March of 2020,” says portfolio manager Taner Pikdöken. “Instead, we always want to be able to be buyers in such a market. Being able to act in such a way leads to a significant excess return over time,” he adds.
South Korea’s LG Faces Challenge from US Hedge Fund (Nikkei Asia)
SEOUL — LG, South Korea’s fourth-largest conglomerate, is headed for a showdown with a U.S. hedge fund at its annual general meeting on Friday, in the latest challenge to the country’s powerful family-run business groups by an activist investor. Whitebox Advisors is urging shareholders to vote against a plan by LG’s founding Koo family to spin off five affiliates through a new holding company that would likely be controlled by the chairman’s uncle.
Thursday 3/25 Insider Buying Report: CRTX (Nasdaq)
On Wednesday, Cortexyme’s Director, David Lamond, made a $1.69M purchase of CRTX, buying 50,000 shares at a cost of $33.77 each. Lamond was up about 4.2% on the purchase at the high point of today’s trading session, with CRTX trading as high as $35.18 in trading on Thursday. Cortexyme is trading up about 3.7% on the day Thursday. Before this latest buy, Lamond bought CRTX on 3 other occasions during the past twelve months, for a total cost of $6.36M at an average of $44.26 per share.
Skillz Inc (SKLZ) CEO Andrew Paradise Sold $196.1 million of Shares (Guru Focus)
CEO of Skillz Inc, Andrew Paradise, sold 8,402,866 shares of SKLZ on 03/23/2021 at an average price of $23.34 a share. The total sale was $196.1 million. Skillz Inc has a market cap of $7.39 billion; its shares were traded at around $19.990000 with and P/S ratio of 86.90.
The President of United Natural Foods (NYSE: UNFI) is Selling Shares (Analyst Ratings)
Yesterday, the President of United Natural Foods (UNFI), Christopher P. Testa, sold shares of UNFI for $792K. In addition to Christopher P. Testa, 2 other UNFI executives reported Sell trades in the last month. Based on United Natural Foods’ latest earnings report for the quarter ending January 31, the company posted quarterly revenue of $6.89 billion and quarterly net profit of $58.96 million.
