Thursday, November 19, 2020

Hedge funds sold Moderna, BioNtech shares before vaccine news

Hedge funds sold Moderna, BioNtech shares before vaccine news

A number of hedge funds sold positions in two drug companies leading the race to a coronavirus vaccine in the quarter before both announced breakthroughs that lifted their stock prices, while a few took stakes in the companies during that time.

As Ackman hunts blockbuster deal, he counts on big backers

Hedge fund veteran William Ackman has the support of some of Wall Street's top investors as he tries to pull off the biggest-ever deal carried out by a blank-check acquisition company, according to regulatory filings published in the last few days.

Buffett's Berkshire bets on Big Pharma, invests in four drugmakers

Warren Buffett's Berkshire Hathaway Inc said on Monday it has begun investing in the stocks of four large drugmakers, betting on an industry that could benefit when the world begins emerging from the coronavirus pandemic.

Florida wealth adviser 'Dr. Cash' hit with fraud charges

The U.S. Justice Department on Tuesday charged a Florida-based wealth adviser, a convicted felon using the name Dr. Terrence Cash, with fraudulently inducing individuals to invest in his "Greenlight"-branded wealth management businesses.

Crispin Odey steps back from running hedge fund firm

Crispin Odey is to step back from running his London-based hedge fund firm as part of an overhaul of the group and instead focus on managing money for clients, the firm said on Tuesday.

DoubleLine's Gundlach says he's bearish on long bonds

Jeffrey Gundlach, the billionaire chief executive of DoubleLine investment firm, said in a pre-election webcast on Monday that he is bearish on long-dated bonds like the 30-year Treasury.

Hedge funds raise Canadian energy shorts ahead of U.S. election

Hedge funds upped bets against Canadian energy companies in the run-up to Tuesday's U.S. presidential election, regulatory filings reviewed by Reuters showed.

Labor Department finalizes U.S. rule curbing sustainable investing by pension funds

The U.S. Department of Labor on Friday finalized a rule clarifying that pension fund managers must put retirees' financial interests first when allocating investments, rather than other concerns such as climate change or racial justice.

Jittery Wall Street banks 'war game' the election with drills, client calls, special pollsters

Large Wall Street banks have been running "war game" drills in their trading businesses and preparing clients for unexpected scenarios around the U.S. election next week, hoping to avoid liquidity crunches or technical errors as markets react to news of who will be running the White House and Congress, industry sources said.

Analysis: Dueling pre-election bets playing out in U.S. Treasury market

The $20 trillion U.S. Treasury market is showing signs of life after months of sleepy trading, as opposing bets on how the economy will perform clash amid fresh worries over COVID-19 and jitters over Tuesday's presidential election.

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