Steven Cohen is Said to Lose Bid to Open Point72 Hedge Fund to British Investors (CNBC)
Steven Cohen is having a tough time getting U.K. financial regulators to give him a second chance in that country. The billionaire recently opened his Point72 Asset Management hedge fund to outside investors in the U.S., but British securities regulators won’t let Cohen open the fund to U.K. investors, according to a report in the FT, citing people familiar with his application to do business there. That makes it the second rebuff by British regulators in a year.
Billionaire Ray Dalio: A.I. is Widening the Wealth Gap, ‘National Emergency Should be Declared’ (CNBC)
Billionaire hedge fund founder Ray Dalio says artificial intelligence and automation are improving productivity but also causing such a dramatic wealth gap that “a national emergency should be declared.” The co-chief investment officer and co-chairman of Bridgewater Associates shared his thoughts in a Facebook post on Thursday. Dalio says he was responding to a question about whether machine intelligence would put enough people out of work that the government will have to pay people to live with a cash handout, a concept known as universal basic income.
Cultural Mix a Hidden Weapon in Nestle CEO’s Activist Defense (Reuters)
LONDON (Reuters) – Growing up in Germany, Mark Schneider was pushed to become fluent in English by his father, who believed it would give him an edge. Now as Nestle’s (NESN.S) relatively new chief executive, the 52-year-old’s abilities are being put to the test by an activist U.S. investor pressing him to act faster and more forcefully to raise the Swiss company’s profit. Billionaire hedge fund manager Daniel Loeb’s Third Point is urging steps it says can boost margins and double earnings per share at the world’s biggest food company by 2022.
Legendary Investor’s Embrace Of Sustainable Investing Is New, But The Movement Isn’ (Forbes)
Earlier this month, hedge fund manager Paul Tudor Jones made headlines across the financial press with his comment that “capitalism may need modernizing,” during an interview with CNBC’s SquawkBox. But, to me, the most interesting quote of the interview wasn’t picked up. It was about the genesis of his new JUST exchange traded fund (ETF), a product that scores companies according to elements of good corporate behavior (e.g., worker treatment and benefits, the environmental impact of their supply chain, diversity in management and governance).
For “King David” Einhorn, a Steep Fall (Barron’s)
Hedge fund manager David Einhorn, once known as “King David” for his outsized investment success, is slumping badly-and his investors aren’t happy. Einhorn’s Greenlight Capital has shrunk to an estimated $5.5 billion or so of assets, from a reported $12 billion in 2014, and his investments are struggling, writes The Wall Street Journal.
Who is David Einhorn, Greenlight’s Founder? (Investopedia.com)
David M. Einhorn is a noted American billionaire investor, hedge fund manager and philanthropist. He is the founder and president of Greenlight Capital, a hedge fund that invests primarily in North American equities and corporate debt offerings. He is one of Wall Street’s most closely followed investors due to his bold trading positions. Einhorn holds the 1650 rank in the Forbes list of global billionaires, and stands at number 494 among American billionaires for the year 2018. He was ranked number 18 among the list of top hedge fund managers in the year 2015. His net worth peaked at $1.9 billion during March 2015, and now stands at $1.4 billion as of March 2018.
Insider Selling: Novocure Ltd (NVCR) COO Sells 57,390 Shares of Stock (LedgerGazette.com)
Novocure Ltd (NASDAQ:NVCR) COO Michael J. Ambrogi sold 57,390 shares of Novocure stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $31.48, for a total transaction of $1,806,637.20. Following the completion of the transaction, the chief operating officer now directly owns 174,383 shares in the company, valued at approximately $5,489,576.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Insider Selling: USANA Health Sciences, Inc. (USNA) Major Shareholder Sells $3,547,083.28 in Stock (WeekHerald.com)
USANA Health Sciences, Inc. (NYSE:USNA) major shareholder Global Ltd Gull sold 30,796 shares of the business’s stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $115.18, for a total value of $3,547,083.28. Following the completion of the transaction, the insider now owns 10,518,064 shares in the company, valued at approximately $1,211,470,611.52. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
ProtoKinetix, Inc. (OTCMKTS:PKTX) CEO Clarence Edward Smith bought 840,760 shares of the business’s stock in a transaction that occurred on Friday, June 29th. The stock was purchased at an average cost of $0.05 per share, with a total value of $42,038.00. The acquisition was disclosed in a legal filing with the SEC.
Insider Selling: Paratek Pharmaceuticals Inc (PRTK) COO Sells 12,000 Shares of Stock (WeekHerald.com)
Paratek Pharmaceuticals Inc (NASDAQ:PRTK) COO Evan Loh sold 12,000 shares of the firm’s stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $9.97, for a total value of $119,640.00. Following the transaction, the chief operating officer now owns 202,786 shares of the company’s stock, valued at $2,021,776.42. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Insider Selling: 1-800-Flowers.Com Inc (FLWS) CEO Sells $189,750.00 in Stock (MaconDaily.com)
1-800-Flowers.Com Inc (NASDAQ:FLWS) CEO Christopher G. Mccann sold 15,000 shares of 1-800-Flowers.Com stock in a transaction on Monday, July 2nd. The shares were sold at an average price of $12.65, for a total value of $189,750.00. Following the transaction, the chief executive officer now owns 965,626 shares in the company, valued at $12,215,168.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission.