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Hedge Fund and Insider Trading News: Tourbillon Capital Partners, Balyasny Asset Management, Elliott Management, Appian Corp (APPN), AutoZone, Inc. (AZO), and More

Hedge Fund Tourbillon Capital to Close (The Wall Street Journal)
New York-based Tourbillon Capital Partners on Monday told investors it was closing, marking at least the third hedge fund to announce it was shutting down this month. Tourbillon Capital, which managed several billion at its peak, had been underperforming for several years. The firm’s flagship fund was down about 3.2% this year through Sept. 28, according to information reviewed by The Wall Street Journal.

Elliott Management Goes on Charm Offensive (The Wall Street Journal)
Elliott Management Corp., known for its brawls with CEOs and developing-world governments, is softening its image. As the shareholder-activism landscape evolves and the influence of big index-fund managers like BlackRock Inc. and Vanguard Group grows, Elliott has been cultivating better relations with those investors and the companies it targets.

Hedge Fund Legend’s Best Ideas Frankly Not Very Good (
Ten years ago, as the hedge fund industry was roiled by the financial crisis, the brain behind Balyasny Asset Management had an idea. Sure, I’ve got dozens of teams trading all sorts of strategies, but let’s be honest: All people want from Balyasny Asset Management is more Balyasny. All Balyasny, if possible. And if that’s what the people want, that is what they shall have, in the form of the Atlas Fundamental fund, giving investors “direct access to Dmitry Balyasny” and his very best ideas.

David Einhorn Blasts Tesla, Likens it to Lehman (
Late last week, Greenlight Capital‘s founder David Einhorn made headlines when he predicted that Tesla (TSLA) would report a “large revenue and earnings disappointment” for its fourth quarter of the year. This is not the first time that Einhorn has come out publicly against Elon Musk’s news cycle-dominating company: earlier this year, Einhorn made a show of returning his Tesla Model S, and around the same time the billionaire hedge fund manager stuck with his short bet on Tesla even as the price of the electric-car maker rose, costing Greenlight significantly.

Bullish Oil Investor Gains 15% in His Hedge Fund (Bloomberg)
(Bloomberg) — Pierre Andurand, one of the most bullish oil investors, recorded the best monthly gain in his hedge fund in almost four years and erased 2018 losses as crude prices surged in September. The $1.2 billion Andurand Commodities Master Fund gained 14.7 percent last month, the most since December 2014, according to a letter to investors seen by Bloomberg. That boosted the return for this year to 11.3 percent. A spokesman for the London-based money manager declined to comment.

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