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Pinnacle Foods stock rockets 10% as activist hedge fund sparks takeover talk

“Pinnacle Foods Inc. shares surged almost 10% Friday, after activist hedge fund Jana Partners LLC said it has amassed a 9.1% stake in the owner of the Birds Eye brand and urged management to consider selling the company” writes Ciara Linnane for marketwatch.com. JP Morgan analysts agreed that Conagra is a leading suitor for Pinnacle but that others might also consider a bid, including Kraft Heinz Co. Source: marketwatch.com Share This:

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Hedge Fund Titans Pull Money From Funds to Pay Massive Tax Bills

“A few hedge fund billionaires have been able to replace money they took out of their funds” writes unknown author for bloomberg.com. Paulson recently closed some smaller funds at his firm, and pulled money from his Credit Opportunities Fund to pay the bill.To make the payments, they had to pull some of their own money from their funds.Clients aren’t exactly lining up — a net $9.8 billion came into hedge funds in 2017, a sliver of the $3.2 trillion in total industry assets — as many firms have faced multiple…

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Activist hedge fund Jana buys stake in Pinnacle Foods, looking for shakeup

“Activist hedge fund Jana Partners LLC has disclosed a 9.1% stake in Pinnacle Foods Inc” writes Claudia Assis for marketwatch.com. In a filing Thursday, Jana said it acquired the shares because it believes they are “undervalued and represent an attractive investment opportunity.”. The hedge fund plans to have “discussions” with Pinnacle’s board members and executives “regarding value-creation measures,” that could include evaluating a sale or other “consolidation opportunities,” it said. Source: marketwatch.com Share This:

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Alpha males hurt alpha: Hedge fund managers with high testosterone underperform

“After years of underperformance, researchers may have discovered what’s plaguing the hedge-fund industry: too much testosterone” writes Leslie Picker for cnbc.com. Hedge-fund managers with high testosterone underperform those with low testosterone by 5.8 percent each year, according to a study conducted by University of Central Florida and Singapore Management University.The researchers used a software to measure the facial width-to-height ratio — proven to be a proxy for testosterone levels — of more than 3,000 hedge-fund managers. After controlling for variables such as risk and market environment, the researchers found that…

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Hedge fund Elliott issues new attack on Vivendi over Telecom Italia

“Paul Elliott Singer’s hedge fund firm said TIM has experienced “profound and persistent share price underperformance” under Vivendi’s control” writes Midwest Communications Inc for 95kqds.com. PARIS, LONDON (Reuters) – Activist investor Elliott Advisors lambasted Vivendi on Thursday after the French media group defended its strategy as the main shareholder of Telecom Italia (TIM). Source: 95kqds.com Share This:

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Crypto News 

Bitcoin is flashing a rare buy signal, crypto hedge fund manager says

“The worst could be over for bitcoin, according to one of the best-known cryptocurrency hedge fund managers” writes Kate Rooney for cnbc.com. The firm saw the value of its cryptocurrency fund cut nearly in half in March, according to an investor letter published earlier in April.Morehead, whose firm returned 25,000 percent the year bitcoin hit its all-time high, said $6,500 was the bottom for this bear market.The hedge fund highlighted that since Dec. 1, its Digital Asset Fund was only down 3.1 percent net of fees, compared with bitcoin, which…

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Hedge fund manager Cliff Robbins reveals investment in software company Open Text

“Blue Harbour Group chief executive Cliff Robbins revealed a new investment in Open Text Corp, a maker of enterprise software based in Canada” writes Adam Jeffery for cnbc.com. The chief executive said that with a $400 million investment, Blue Harbour is the largest stockholder in the company.The hedge fund CEO founded Blue Harbour in 2004, and invests in undervalued companies and engages with management teams and boards of directors to try to create value in the company. Blue Harbour made headlines last year after it revealed a roughly 6.2 percent…

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Legendary hedge fund investor George Soros made a huge bet against Norwegian Air — and lost 40% in a single day

“One of the hedge funds that held a negative position in the share was Soros Fund Management, run by legendary hedge fund investor George Soros” writes Business Insider Nordic for businessinsider.com. Several other hedge funds, including GLG Partners and Schroder did the same thing – likely contributing to the forceful share price reaction.However, the trade turned into a disaster following last Thursday’s rumours about a coming bid from British Airways owner IAG, which saw the share price sky-rocket. Source: businessinsider.com Share This:

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Billionaire Louis Bacon is reportedly backing a hedge fund manager he once called ‘the most impressive trader I’ve ever seen’

“He previously worked at GLG Partners and Moore Capital, where he ran two emerging markets funds” writes Rachael Levy for businessinsider.com. Coffey is expected to put a significant percentage of his net worth in the fund, Business Insider earlier reported.Bacon’s investment was reported by The Financial Times, which reported that Coffey’s fund is set to launch later this year with more than $2 billion. Source: businessinsider.com Share This:

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Crypto News 

Crypto hedge fund known for eye-popping early returns lost nearly 50 percent last month

“The hedge fund highlighted that since Dec. 1, its Digital Asset Fund was only down 3.1 percent net of fees, compared with bitcoin, which was down 37.4 percent in the same time frame” writes Kate Rooney for cnbc.com. Pantera, which has roughly $724 million in assets under management, also announced the launch of its third blockchain-focused venture fund last month. Source: cnbc.com Share This:

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