Hedge Fund and Insider Trading News: Steve Cohen, George Soros, TCI Fund Management, RumbleON Inc (RMBL), SBA Communications Corporation (SBAC), and More

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Steve Cohen’s Point72 is Betting Big on the Cloud. The $21.8 Billion Hedge Fund’s CTO Takes Us Inside Its Five-Year Project. (Business Insider)
Point72 is in the midst of a sweeping, multi-year overhaul to transform the $21.8 billion hedge fund into a cloud-first operation. The five-year project, which is slated to wrap at the end of 2024, is aimed at migrating 70% to 80% of the hedge fund’s cloud-eligible applications to the new tech. Currently, 20% of this work has been completed.

Soros Calls BlackRock’s China Investment a ‘Tragic Mistake’ (Bloomberg)
George Soros criticized BlackRock Inc.’s China push as a risk to clients’ money and U.S. security interests, in the billionaire financier and philanthropist’s latest broadside against investment in the world’s second-largest economy. “Pouring billions of dollars into China now is a tragic mistake,” Soros wrote in an op-ed in the Wall Street Journal. “It is likely to lose money for BlackRock’s clients and, more important, will damage the national security interests of the U.S. and other democracies.

Sir Christopher Hohn’s Activist hedge Fund TCI calls for Special Shareholder Meeting in Bid to Overhaul Canadian National (Hedge Week)
TCI Fund Management, Sir Christopher Hohn’s high-profile activist hedge fund firm, is calling on Canadian National Railway to end its “reckless, irresponsible, and value destructive pursuit” of Kansas City Southern, and wants to requisition a special meeting of CN shareholders aimed at overhauling the board and replacing its CEO. TCI, which has been a shareholder in CN since 2018, last week increased its holdings to more than 5 per cent of the shares outstanding, valued at USD4 billion.

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Why PPPs Are the Intersection Between ESG and Infrastructure (Preqin)
Public-private partnerships have had success in Canada. Alex Kotsopoulos and Anthony DeCandido from RSM explain how this model could help the Biden administration close the US’s $2tn infrastructure gap while also improving ESG outcomes. Canada has been very successful with infrastructure investments made by tandem efforts from public and private sectors. How can these partnerships improve infrastructure and economic development, and what can the US learn from this? Since the 1990s, public-private partnerships (PPPs) have been used extensively in Canada to develop its infrastructure.

Billionaire Stephen Mandel Jr. Saw Shorting Stocks as His Edge When He Launched Lone Pine. He Explains Why That’s Gotten Much More Difficult Recently. (Business Insider)
The first full year of trading at the now-legendary Lone Pine Capital was a tumultuous one. In 1998, new-wave internet companies were trading at multiples that seemed astronomical given their measly earnings — a precursor to the meme stock chaos that is roiling the markets today. Stephen Mandel Jr., the billionaire founder of the Greenwich-based Tiger Cub, remembers the “scars” of the year to this day.






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