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☆ Activist investor Ubben shutting down Inclusive Capital-sources
▼ + stars: | 2023-11-29 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +4 min

Jeffrey Ubben, Founder & CEO at ValueAct Capital, speaks on the Reuters Newsmaker event "The Future of Shareholder Activism" in Manhattan, New York, U.S., February 22, 2017. Ubben told investors in a memo he was winding down some funds and returning capital, two people familiar with the matter said on Wednesday. Ubben and Inclusive Capital, known as InCap, did not respond to calls and emails for comment. Last year more hedge funds closed their doors than launched, data from Hedge Fund Research show. More than two decades ago, Ubben, 61, who started his career at mutual fund giant Fidelity, founded ValueAct Capital in San Francisco.

Persons: Jeffrey Ubben, Andrew Kelly, Jeff Ubben, Ubben, InCap, Martha Stewart, John Paulson, Louis Bacon, Svea Herbst, Bayliss, Sabrina Valle, Josie Kao Organizations: ValueAct, Reuters, REUTERS, Capital Partners, Inclusive, Hedge Fund Research, Fidelity, Microsoft, Street Journal, Exxon, Rad Laboratories, Unifi Inc, Bayer, Svea, Thomson Locations: Manhattan , New York, U.S, San Francisco, Houston

☆ US hedge funds stampede out of China in Q2
▼ + stars: | 2023-08-14 | by ( Carolina Mandl | ) www.reuters.com time to read: +2 min

The hedge fund slashed its position in Alibaba by roughly 90% from March to June, filings showed. D1 Capital Partners also dumped all its 1.7 million shares - or $176.8 million - in Alibaba, according to documents. Louis Bacon's Moore Capital Management sold over $200 million in shares of Alibaba, exiting its position in the company. Amid those uncertainties, China-focused mutual funds also suffered a net outflow of $674 million in the second quarter. At the end of July, hedge funds' exposure to China was well below five-year averages, Goldman Sachs showed.

Persons: Lucas Jackson, Philippe Laffont, Li Auto, Louis Bacon's, Michael Burry's, Joe Biden, Goldman Sachs, Carolina Mandl, Alison Williams, Cynthia Osterman Organizations: New York Stock Exchange, REUTERS, YORK, D1 Capital, Tiger Global, HK, Coatue Management, Tiger Management, Baidu, KE Holdings, PDD Holdings, D1 Capital Partners, Louis Bacon's Moore Capital Management, Alibaba, Michael Burry's Scion Asset Management, Thomson Locations: New York, U.S, JD.com, Kanzhun, Alibaba, China

☆ Hedge fund says hard landing is 'most likely' and names 3 global stocks to play it
▼ + stars: | 2023-05-16 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

A U.S.-based hedge fund is predicting a hard landing scenario for stock markets despite a steady decline in inflation, with the S & P 500 falling into a bear market. "Livermore views the path forward as the most likely scenario for markets is a hard landing," Neuhauser said in notes to CNBC. The hedge fund manager added that despite this "soft landing" in inflation, "ultimately it's going to lead to a much harder landing with stocks as inflation remains sticky for some time to come." The hedge fund manager identified three global stocks that he believes will perform well if this scenario comes to fruition. Livermore, the hedge fund founded by Neuhauser in 2009, owns shares in Amaroq, along with billionaire investor Louis Bacon.

☆ Don't look now, but Wall Street bonuses are already trending in the wrong direction
▼ + stars: | 2023-05-09 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Wall Street, I'm sorry to say your 2023 bonus is already on some shaky ground. I realize we're not even halfway through the year, but after an awful first quarter, bonuses in plenty of areas of finance are trending in the wrong direction. It's a mixed bag, with some areas trending toward a double-digit percentage increase over 2022, while others are heading the opposite way. If that isn't a certainty, you can bet people, especially those earlier in their career, will look for greener pastures. Six of the largest European and US oil companies have a combined nearly $160 billion in cash and cash equivalents on their balance sheets, The Wall Street Journal reports.

☆ Peter Nygard ordered to pay billionaire neighbor $203 million in damages after driveway feud escalated to accusations of arson and Ku Klux Klan links
▼ + stars: | 2023-05-08 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

A hedge fund manager was awarded $203 million in damages after being defamed by former neighbor Peter Nygard. Disgraced fashion mogul Nygard accused Louis Bacon of arson, insider trading and links to the KKK. The decade-long dispute began following a quarrel over a driveway Nygard and Bacon shared. A hedge fund billionaire has been awarded $203 million after a New York court ruled he was defamed by his former Bahamas neighbor Peter Nygard following a decade-long feud ignited by a shared driveway. Lawyers told the court Bacon had spent more than $50 million in legal fees bringing several defamation cases against Nygard.

☆ Hedge-Fund Manager Louis Bacon Awarded $203 Million in Defamation Case
▼ + stars: | 2023-05-05 | by ( James Fanelli | ) www.wsj.com time to read: 1 min

Hedge-fund manager Louis Bacon, pictured on left, in 2013; former retail mogul Peter Nygard in 2016. Photo: Charles Eshelman/FilmMagic/Getty Images; Phillip Faraone/Getty ImagesHedge-fund manager Louis Bacon was awarded $203 million in damages and legal fees in a defamation case against former retail mogul Peter Nygard that stems from the two men’s long-running feud over neighboring properties in the Bahamas. A New York state court-appointed referee ordered Mr. Nygard this week to pay the amount, saying he orchestrated a yearslong campaign to destroy Mr. Bacon’s reputation. Mr. Nygard falsely asserted that the financier was a member of the Ku Klux Klan, had been found guilty of insider trading, was involved in the death of an employee and a family friend at his Bahamas home and had been implicated in arson, the referee said in his decision.

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