Berkshire’s India Deal is So Wrong it’s Right (BreakingViews.com)
Warren Buffett’s company is taking a small stake in digital-payments firm Paytm. Indian tech doesn’t fit the Omaha sage’s playbook, but his outfit has $110 bln in cash and holdings like Kraft Heinz are flatlining. Letting his lieutenants place some bets on the future makes sense.
Hoffman: Musk’s Days as Tesla CEO are Numbered (Cheddar.com)
After Tesla CEO Elon Musk backtracked on his plans to take the company private, Gabe Hoffman, founder of hedge fund Accipiter Capital Management, said Musk will be out of a job. Hoffman explains why he believes Musk’s claim of “funding secured” was fraud.
Global Additive Manufacturing & Materials Market 2018-2023: CAGR to Grow at 26.86% – ResearchAndMarkets.com (BusinessWire.com)
General Electric Co announced that it would raise its stake in Swedish 3D printer maker Arcam AB ARCM.ST to around 95 percent from 77 percent after buying shares from hedge funds Elliott and Polygon. GE said it would buy Elliott Management and Polygon Investment Group’s outstanding shares for 345 Swedish crowns (USD 41.44) each. GE also said it planned to acquire all remaining shares of Arcam in a compulsory buyout procedure and to request that the company delist its shares from the Nasdaq Stockholm exchange. Activist Elliott built a 10 percent stake in Arcam in October 2016 after GE announced an initial tender for the 3D printer maker, which the hedge fund rejected.
Och-Ziff: A Global Bet on Alternative Assets (MoneyShow.com)
Och-Ziff Capital Management Group (OZM) is one of the largest institutional alternative asset managers in the world, with offices in New York, London, Hong Kong, Mumbai, Beijing, Shanghai and Houston, notes David Fried, a specialist in stocks undergoing buybacks and shares repurchases and editor of the aptly named, The Buyback Letter. They provide asset management services to investors globally through multi-strategy funds, dedicated credit funds, including opportunistic credit funds and Institutional Credit Strategies products, real estate funds and other alternative investment vehicles.