Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Hedge Fund and Insider Trading News: Tiger Global, Elliott Management, Macquarie Infrastructure Corp (MIC), Know Labs Inc (KNWN), Marijuana Company Of America Inc (MCOA), and More

Tiger Global Buys Over $1 Billion Stake in Japan’s SoftBank: FT (Reuters)
(Reuters) – U.S. hedge fund Tiger Global has acquired a stake of more than $1 billion in Japan’s SoftBank Group (9984.T), a stock it considers “meaningfully undervalued”, the Financial Times reported on Wednesday, citing a letter Tiger circulated to investors. Billionaire hedge fund manager Chase Coleman’s Tiger Global said in the letter SoftBank’s shares offer a buying opportunity because they have not appreciated in nearly five years, even though the value of the company’s Alibaba (BABA.N) stake has increased by over $90 billion.

Credit Suisse Nears $360 million Deadline in Fraud Suit Built on a Hunch (Reuters)
CHICAGO (Reuters) – When the high-end property development Lake Las Vegas collapsed during the 2008 financial crisis, 31 funds that helped finance the project lost a total of $540 million. But only one of them, Dallas-based hedge fund Highland Capital Management, aggressively pursued legal action against Credit Suisse Group AG, which arranged the financing and appraisals for the project. Highland ultimately convinced a Texas court that Credit Suisse had breached its contract and aided and abetted fraud in the deal, and the decision was upheld on appeal. Now, Credit Suisse faces a July 18 court deadline to pay Highland $360 million or appeal to the Texas Supreme Court.

buy, sell, sale, trading, market, business, stock, trade, fund,

Ismagilov/shutterstock.com

Hedge Fund Manager Elliott Takes Control of AC Milan Soccer Team (The Wall Street Journal)
American billionaire Paul Singer’s Elliott Management Corp. promised an initial €50 million ($58.7 million) cash injection into Italian soccer team AC Milan, providing a much-needed lifeline to the storied team that is fighting a sanction that would keep it out of the Europa League this season. AC Milan’s new owner said Tuesday that the equity capital-and promises for more down the road—should stabilize the seven-time European champion financially.

Hedge Funds Target WTI, Leaving Other Oil Contracts Becalmed: Kemp (HellenicShippingNews.com)
Hedge fund managers have continued to boost their bullish exposure to U.S. crude futures and options, following a longer-than-expected disruption of pipeline deliveries from Canada. Position-building in U.S. crude, also known as WTI, accounted for almost all changes in the petroleum complex in the week to July 3. Hedge funds and other money managers raised their net long position in the six most important petroleum futures and options contracts by 47 million barrels. Portfolio managers raised net their long position in U.S. crude (+41 million barrels) with minor increases in Brent (+4 million), U.S. gasoline (+4 million) and U.S. heating oil (+2 million).

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading...