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DailyAlts Playbook Talks Ackman’s Optimism, The Big “Short-ier”, Carbon Skeptics, and Now That’s Music 29

A number of funds saw massive gains during the breakdown in the market between February 20 and March 20. The latest manager to generate headlines is Kevin Smith at Crescat Capital. His two primary funds earned 40.5% and 34.5% during that period. Smith’s co-portfolio manager compared this selloff and their gains to the book The Big Short. While there are always winners, there are also losers. It appears that Bridgewater and Third Point, both run by dynamic managers, had a tough quarter. Bridgewater’s main fund reportedly lost 20% during the quarter. Dan Loeb’s Third Point had an 11% loss last month. Finally, Glenview shed 30% on paper during Q1.

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After Bulgari And Dior, Arnault Wants to Add Jeweller Tiffany to the LVMH Luxury Crown
October 30, 2019

Tiffany & Co., the iconic US jeweler that featured in the Audrey Hepburn starrer Breakfast at Tiffany’s, has received a takeover offer from LVMH. LVMH is the owner of the…

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Corporates and Banks Rejoice: Bottomline Launches Real Time Payments
October 30, 2019

Fintech firm Bottomline Technologies enhances its Digital Banking product with the addition of a Real-Time Payments module. Real-time payments are essential these days to a bank’s competitiveness, particularly in the…

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Volatility and Returns: The New CIBC Income Pools Manage Both
October 29, 2019

CIBC Asset Management launches a suite of three Fixed Income Pools that provide access to advanced bond strategies. The new CIBC Fixed Income Pools access leading portfolio managers from around…

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Prologis and Liberty Property Trust Announce REIT Merger
October 28, 2019

Prologis and Liberty Property Trust announced a merger between the two firms. According to deal terms, Prologis will acquire Liberty $12.6 billion, including the assumption of debt. The board of…

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AT&T Defuses Hedge Fund Elliott Management Pressure With Three-Year Plan
October 28, 2019

Activist hedge fund Elliott Management took aim at AT&T Corporation in September. Elliott had proposed cost cuts, divestment of certain businesses, and a freeze on further acquisitions. Now, the telecom giant…

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Bitcoin Goes Vertical After Chinese President Xi Jinping’s Pro-Blockchain Remarks
October 26, 2019

Bitcoin rallied 16% after Chinese President Xi Jinping called for his country to “seize the opportunity” afforded by blockchain. Speaking at a Politburo Committee session on blockchain technology trends Thursday,…

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Dan Loeb’s Third Point Holds a $700 Million Stake in EssilorLuxottica
October 24, 2019

Third Point, the New York-based activist hedge fund run by Dan Loeb, has built up a $700 million stake in Ray-Ban maker EssilorLuxottica. It revealed this in its third-quarter investor…

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Price Cuts the Flavour of the Season: Vanguard Europe Slashes Fees on ETFs and Index Funds
October 24, 2019

Vanguard adds fuel to the fee cut fire in financial services by slashing fees across its ETFs and index-tracking funds. The passive investing giant cut its fees down to an…

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Revolut and Mastercard To Partner On US Debit Cards
October 23, 2019

Revolut, the digital challenger bank, and fintech unicorn have tied up with Mastercard for US debit cards. Mastercard will handle Revolut’s debit cards when they launch in the US sometime…

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Bank of America Joins the Zero-Commission Wars
October 21, 2019

Bank of America has joined the chorus of brokerages to slash commissions to zero through its Merrill Edge Self-Directed platform. The company said Monday that it will expand its zero-dollar to…

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