Billionaire Steve Cohen Tweets Mets Collapse Is ‘Hard to Understand’ (Bloomberg)
Steve Cohen vented his frustration with the New York Mets Wednesday after his team lost to the San Francisco Giants, asking how professional hitters could be “this unproductive.” The Mets are now below .500 and find themselves in third place in the National League East as they struggle through injuries and offensive ineptitude. This is Cohen’s first season as owner and he’s been active on Twitter.
Elliott Management: The US Activist Investor Forcing Change Across the World (ProactiveInvestors.co.uk)
Elliott Management has become a familiar name for UK investors after it targeted a few London-listed companies. Run by billionaire Paul Singer, the New York-based activist investor has holdings worth over US$40bn and was valued at US$12.7bn as of 3 June. At the time, its top holdings were Dell Inc, PowerShares QQQ Trust, Howmet Aerospace, Twitter Inc (NYSE:TWTR) and Marathon Petroleum Corp.
Top TriMark Lenders Must Face Challenge to ‘Cannibalistic’ Rescue Loan (The Wall Street Journal)
A New York judge declined to clear Oaktree Capital Management LP and Ares Management Corp. of allegations that a $427.5 million rescue package for restaurant supplier TriMark USA LLC trampled the rights of other lenders. A group of TriMark lenders can continue pressing claims that last year’s rescue deal ran afoul of the company’s debt contracts by vaulting Oaktree, Ares and others to the top of the payment line, according to the ruling issued Monday by Justice Joel M. Cohen of the Supreme Court of the State of New York,…
Photo by Austin Distel on Unsplash
How Pioneering Hedge Fund Sancus Capital has Stayed at the Cutting Edge of Credit Investing (Hedge Week)
Launched in the immediate aftermath of the Global Financial Crisis, pioneering credit-focused hedge fund manager Sancus Capital Management has built a formidable decade-plus track record in the market, and more recently broadened its focus into CLO management. Established in 2009 by former Goldman Sachs and JP Morgan credit derivatives specialist Olga Chernova, Sancus today has approximately USD550 million in assets under management in total, split between its flagship Sancus Capital Select Master Fund, managed accounts and its newly-launched CLO management business.
Legendary Investor Bill Miller Doubled Down on his Crypto Conviction and Bought Coinbase in the 2nd Quarter of 2021 (Business Insider)
Legendary fund manager and bitcoin bull Bill Miller took a position in cryptocurrency exchange Coinbase during the second quarter of 2021, a recent 13F filing shows. Miller Value Partners scooped up 121,185 shares of Coinbase worth roughly $30 million in the quarter. Coinbase is currently down nearly 24% from the close on its IPO day in April. Miller has been a longtime bitcoin bull as he started buying the cryptocurrency around $200 to $300 a coin.
The Big Short Against ARK Innovation: Two of America’s Most Famous Investors Go Head-to-Head (Sky News)
Michael Burry versus Cathie Wood. Only one can be right. On the other, one of the country’s most respected and influential hedge fund managers. The confrontation emerged on Tuesday when filings revealed that Michael Burry, the hedge fund manager famous for betting on a housing market crash ahead of the financial crisis and portrayed by Christian Bale in the hit film The Big Short, is among investors taking positions against ARK Innovation ETF.
Paulson Adds Bally’s to Hedge Fund Portfolio (Casino.org)
John Paulson’s eponymous hedge fund initiated a new position in casino operator Bally’s (NYSE:BALY) in the second quarter. A Form 13F filing with the Securities and Exchange Commission (SEC), released Monday, revealed Paulson & Co. bought one million shares of the Rhode Island-based regional casino operator during the April through June period. That stake was valued at $54.11 million, but is now out of the money, as Bally’s followed other gaming equities lower over the past several months.
Hedge Funds Blindsided by China Risk With New Warning (Bloomberg)
Ray Dalio insists that the swings in Chinese markets are little more than “wiggles.” But for a certain subset of hedge-fund managers, the consequences of Beijing’s crackdown might seem more like an earthquake. Philippe Laffont’s Coatue Management, Gabe Plotkin’s Melvin Capital Management and Andreas Halvorsen’s Viking Global Investors added new positions in Beijing-based JD.com Inc. in the second quarter, only to see its American depositary receipts tumble 19% since June 30.
Private Capital in a Recovering Europe (Preqin)
Private capital has bounced back on all metrics across Europe. Transaction levels were high in H1 2021 for both new investments and exits, fundraising is on track for a record, and returns have been given a boost. Preqin’s annual Markets in Focus: Alternative Assets in Europe report will launch in mid-September and is produced in collaboration with leading European asset manager Amundi for the fourth year in a row.
The President & Chief Financial Officer of Allscripts (NASDAQ: MDRX) is Selling Shares (Analyst Ratings)
Yesterday, the President & Chief Financial Officer of Allscripts (MDRX), Rick Poulton, sold shares of MDRX for $336.3K. Following Rick Poulton’s last MDRX Sell transaction on May 05, 2021, the stock climbed by 1.0%. Based on Allscripts’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $374 million and quarterly net profit of $21.93 million. In comparison, last year the company earned revenue of $369 million and had a GAAP net loss of $7.61 million.
