Hedge Fund and Insider Trading News: Steven A. Cohen, Glenn Dubin, Elliott Advisors, Maple Rock Capital Partners, Moderna Inc (MRNA), AGCO Corporation (AGCO), United Airlines Holdings Inc (UAL), and More

Steve Cohen, Once Known as Reclusive, Shoots to Twitter Stardom (Bloomberg)
Steven A. Cohen captured the hearts of New York Mets fans at hello. As in: Hello, I have $10 billion. Cohen’s money, after years of relative penny-pinching at New York’s junior Major League Baseball team, and his history as a Mets fan growing up on Long Island, endeared himself to a fan base that describes itself as long-suffering.

Bitcoin Trades Again Near Record, Driven by New Group of Buyers (The Wall Street Journal)
Bitcoin climbed back above $18,000 last week to flirt with record levels, a spectacular rally driven by a new group of buyers seeking the opportunity for big profits. The digital currency traded as high as $18,965 on Friday, according to CoinDesk, about 4% below its all-time high of $19,783 set in December 2017. It has surged more than 50% in the past month alone. The rally has attracted a wide cast of characters, from the Wall Street billionaires Paul Tudor Jones and Stanley Druckenmiller to momentum investors who aim to ride winning assets higher and losing markets lower.

Jeffrey Epstein Prosecutors Seek Docs Related to Billionaire Glenn Dubin’s Kids (Fox News)
US Virgin Islands prosecutors are demanding billionaire MoMA benefactor and board member Glenn Dubin turn over all communications that his friend Jeffrey Epstein had with Dubin’s three children. A subpoena seeks “all documents and communications related to any of your three children, Maye, Celina or Jordan, which also relate in any way to Jeffrey Epstein or any Epstein entity.” The islands’ Attorney General is probing alleged racketeering by the late billionaire pedophile and has issued subpoenas to numerous Epstein associates, including lawyers, accountants and bankers.

Countries with the Smallest Government Per Capita in the World

Pressmaster/Shutterstock.com

Elliott Advisors Proposes to Acquire Aryzta, Swiss Firm Looks for Other Options (Reuters)
ZURICH (Reuters) – Private equity firm Elliott Capital Advisors said on Monday it made a non-binding proposal to Aryzta’s board of directors on Nov. 18 to acquire all outstanding shares of the Swiss frozen baked goods maker, but Aryzta said discussions with the hedge fund had been concluded in October. Aryzta said in a statement it had received the letter, but said the potential offer was “subject to certain conditions, some of which cannot be satisfied as a matter of fact”.

Hedge Fund Strategies, in Particular L/S Equity, and CTAs, Benefit from Momentum Biases (Opalesque.com)
Several hedge fund strategies have momentum biases, in particular L/S Equity, and CTAs. Because this rotation took place in a bullish environment, most hedge fund strategies ended the week in positive territory, said Lyxor. Directional L/S Equity (+1.2%) benefitted from their market beta, but alpha contributed negatively for all but those strategies with an explicit value bias. One strategy benefitted particularly from the changing market landscape: Special Situations (+3%). In relative terms, their higher market beta and value bias were supportive. CTAs and Market Neutral L/S ended the week in negative territory but losses, in the range of -1% to -1.5% according to the Lyxor Peer Groups, were overall contained.