Salesforce.com Inc (CRM) Chair of the Board & CEO Marc Benioff Sold $3.9 million of Shares (Guru Focus)
Chair of the Board & CEO of Salesforce.com Inc, Marc Benioff, sold 15,000 shares of CRM on 10/20/2020 at an average price of $256.77 a share. The total sale was $3.9 million. Salesforce.com Inc is a software-as-a-service company that provides enterprise cloud computing solutions, offering social and mobile cloud apps and platform services, as well as professional services to facilitate the adoption of its solutions.
Apollo Board Panel to Review Leon Black’s Ties With Jeffrey Epstein (The Wall Street Journal)
A group of Apollo Global Management Inc.’s independent board members will review Chief Executive Leon Black’s relationship with disgraced financier Jeffrey Epstein, according to people familiar with the matter. At a regularly scheduled meeting Tuesday morning, Mr. Black requested that the board’s conflict-committee members, which include Michael E. Ducey, A.B. Krongard and Pauline Richards, hire a law firm to examine his business dealings with Mr. Epstein, the people said. The committee interviewed a number of firms and selected Dechert LLP on Tuesday afternoon.
Dismissing Hedge Funds on Principle (Hedge Nordic)
Stockholm (HedgeNordic) – High fees and unsatisfactory performance may have driven away some pension funds from the hedge fund industry. One Danish pension fund has turned away from hedge funds because they do not create sufficient value for the fees they charge. Anders Schelde, the chief investment officer of AkademikerPension, tells Bloomberg that the pension fund excludes hedge funds from its external allocations because “I don’t think they create the value they say they do.” The hedge fund industry has both good and bad money managers, with the industry having a considerable heterogeneity of strategies, risk-return profiles and track records. For that reason, rigorous manager selection and due diligence are essential to identify and select the best hedge fund managers.
Blank-Check Company Deals Driven by Speculation, Chanos Says (Bloomberg)
The surge in blank-check company deals is a sign of unfettered speculation and investors may see lackluster returns from these offerings, legendary short-seller Jim Chanos said. “We are going to blow through the records of 1999 and 2000 in terms of new issuance,” Chanos said at Grant’s Interest Rate Observer’s fall conference on Tuesday. “We are now seeing speculation in all its glory come back.” Chanos, the founder of hedge fund Kynikos Associates Ltd., said “academic work has showed us that the return of special purpose acquisition companies is not only bad relative to the stock market, it’s even worse than initial public offerings. That hasn’t stopped people from getting excited and throwing money.”
The President & Chief Executive Officer of BELLUS Health (NASDAQ: BLU) is Buying Shares (Analyst Ratings)
Today, the President & Chief Executive Officer of BELLUS Health (BLU), Roberto Bellini, bought shares of BLU for $98.18K. Following this transaction Roberto Bellini’s holding in the company was increased by 7% to a total of $1.51 million. The company has a one-year high of $12.03 and a one-year low of $2.01.
Tilray Inc (TLRY) President and CEO Brendan Kennedy Sold $2.2 million of Shares (Guru Focus)
President and CEO of Tilray Inc, Brendan Kennedy, sold 400,000 shares of TLRY on 10/16/2020 at an average price of $5.6 a share. The total sale was $2.2 million. Tilray Inc has a market cap of $834.040 million; its shares were traded at around $6.26 with and P/S ratio of 3.42. GuruFocus has detected 4 severe warning signs with Tilray Inc.
