Monthly Archives: June 2021
Federal Court Orders Florida Man to Pay More than $500,000 for Attempting to Fraudulently Profit From COVID-19
(HedgeCo.Net) The Commodity Futures Trading Commission has announced that the U.S. District Court for the Western District of Texas entered an order granting the CFTC’s motion for default judgment against defendant James Frederick Walsh of Boca Raton, Florida. The order finds […]
SEC Obtains Final Judgments Against Two Former Officers in Accounting Fraud
(Hedgeco.Net) The United States District Court for the District of Minnesota has entered final consent judgments against two former executives of Digiliti Money Group, Inc., a now-defunct financial technology firm. The SEC’s complaint, filed on April 3, 2019, alleged that, between […]
Bill Ackman’s Pershing Square nears record $40 billion SPAC deal with Universal Music
(CNBC) Billionaire investor Bill Ackman’s blank-check company is closing in on a deal to take Universal Music Group public in what would be the largest special purpose acquisition company deal ever. To read this article:
May jobs data expected to be strong, and could add to Fed debate on tapering bond buying
(CNBC) Job growth in May is expected to be more than double the pace of April, with hiring picking up in pandemic hit sectors like retail and restaurants but also more broadly across the economy. Economists expect 671,000 jobs were […]
AMC ends wild trading day down 18% after generating $587-Million
(CNBC) AMC Entertainment shares ended a rollercoaster trading session down 18% on Thursday after the company announced a stock sale. The wild trading day is the latest in the theater chain meme stock’s movement driven by retail investors banding together […]
Wall Street should brace for ‘larger than normal price swings,’ PNC’s chief investment officer warns
(CNBC) A top investor expects volatility to dominate Wall Street for months. Amanda Agati, PNC Financial’s chief investment officer, lists stretched market valuations, Federal Reserve taper chatter and the end of stimulus checks as troubling forces in the market. “You […]
“Pandora’s box has opened”: Oil hedge funds target price shocks after Engine No. 1’s ExxonMobil triumph
(Hedgeweek) The recent spate of victories by sustainability-focused shareholder activists against oil giants could spark renewed price volatility, heralding outsized opportunities for hedge funds betting on energy markets. To read this article:
Systematic hedge fund thrives on market timing
(Opalesque) Many investors, academics, and financial professionals believe market timing is impossible. Other investors, especially active traders, believe strongly in it. Market timing is most popular at the bottom of bear markets and least popular at the late stages of […]
AMC shares soar nearly 23% after fund buys and flips $230 mln stake
(Reuters) A hedge fund that helped AMC Entertainment Holdings (AMC.N) raise $230 million quickly sold its stake in the world’s largest cinema chain at a profit, according to a source on Tuesday, when the “meme stock” soared more than 20%. […]
AMC Shorts Hang Tight During Epic Rally in Break From January
(Bloomberg) Facing another push from day traders targeting the most-shorted stocks such as AMC Entertainment Holdings Inc., hedge funds aren’t backing down this time. Professional speculators, who were forced to retreat in late January amid a similar assault, are instead boosting […]
March trading profits and inflows propel hedge fund AuM to record high of $4.07tln
(Opalesque) Hedge funds saw $19.1 billion in new assets flow into the industry in March 2021. Coupled with a $28.5 billion monthly trading profit, total hedge fund industry assets rose to more than $4.07 trillion as March ended, a new […]
Hedge fund bear Russell Clark puts bitcoin valuation model under scrutiny
(Hedgeweek) Well-known hedge fund bear Russell Clark is questioning how valuable bitcoin is under the stock-to-flow model, a framework traditionally used for precious metals such as gold and platinum, in light of recent sharp price volatility. To read this article: