In conversation with Thomas Ronk of Buyins.net
BioTuesdays, 30 May 2017
As the founder and CEO of Buyins.net, Thomas Ronk has created a proprietary database and trading strategy based on short sale timing and sales data that was not accessible to anyone prior to January 2005. As a registered representative of Transamerica Financial Resources, a division of Transamerica, Mr. Ronk managed more than $150-million in equity accounts from 1993 until 1998. He has 27 years of trading experience and is the principal of Century Pacific Investments, a registered investment advisor in California. Prior to the investment business, Mr. Ronk studied Electrical Engineering and Computer Science at the University of California in San Diego. In this interview with BioTuesdays, Mr. Ronk discusses manipulative short selling and how his company helps clients to analyze and develop a plan to deal with it.
Read full article.
Steve Cohen reportedly plans record-breaking $20 billion hedge-fund comeback
Lauren Thomas, 30 May 2017
Steve Cohen, whose former investment firm pleaded guilty to criminal insider trading charges, plans to return to hedge funds with a $20 billion goal in mind, The Wall Street Journal reports.
The new hedge fund could launch as early as 2018, according to recent conversations Cohen and his representatives have had with bankers, colleagues and potential investors, the Journal says. Continue reading “Article: Steve Cohen reportedly plans record-breaking $20 billion hedge-fund comeback”
STEVE COHEN IS PLANNING A $20 BILLION MIDDLE FINGER FOR HIS CRITICS
BESS LEVIN, 30 May 2017
While SAC Capital pleaded guilty to insider trading in 2013, paying $1.8 billion in fines, the hedge fund’s founder, Steven A. Cohen, walked away relatively unscathed. In 2016, he agreed to a temporary, two-year ban by the Securities and Exchange Commission that prevents him from supervising a registered fund until January 1, 2018. He never faced criminal charges despite years of being investigated by the government and then-U.S. Attorney Preet Bharara, who appeared at one point to make jailing Cohen his life’s work; he wasn’t banned from the securities industry for life; and his net worth, which these days is said to hover around $13 billion, was barely affected.
Still, the downfall of SAC Capital hit Cohen in other ways. SAC, which took its name from Cohen’s initials, was converted into a family office and renamed the sterile-sounding Point72 Asset Management, rendering many a fleece jacket worthless. Outside money had to be returned to investors. And, as a family office, Cohen was unable to charge the high fees SAC once commanded. Top talent proceeded to exit the new firm. Continue reading “Article: STEVE COHEN IS PLANNING A $20 BILLION MIDDLE FINGER FOR HIS CRITICS”
CEO fires back at short-seller Citron on live TV: ‘Mr. Left is dead wrong’
Berkeley Lovelace Jr.
CNBC, 15 May 2017
Exact Sciences Chairman and CEO Kevin Conroy fired back at a bearish assessment made by Citron Research’s Andrew Left, who predicted a long-term drop in the cancer testing company’s stock to a near-zero single digit.
Citron said in a report on Monday that Exact Sciences’ Cologuard cancer test, an at home screening for colon cancer, is “inferior” and shouldn’t be pitching it as an alternative to a colonoscopy.
Read full article.
Comment: Andrew Left’s Citron appears to be a front for naked short sellers.
Citron Research “Exposes” Exact Sciences – Short Term Target $20
ValueWalk.com, 15 May 2017
Citron Research exposes Exact Sciences and PROVES beyond ANY doubt why this stock will soon be cut in half – so says a new reprot from Citron Research – Citron founder Andrew Left battled the CEO of Exact on CNBC on that topic for CNBC pro sub subscribers you can find that video here
Comment: Knocked stock down from $30 to $22. They needed to cover, stock then went to $125.
Forfeiture Case Based on Alleged Elaborate $230 Million Russian Laundering and Fraud Scheme to Settle
Peter D. Hardy & Priya Roy, 15 May 2017
On the eve of trial this past Friday, the government announced an agreement to settle, subject to court approval, a major civil forfeiture action in the Southern District of New York. In the case, United States v. Prevezon Holdings, Ltd. et al., the government alleged an elaborate scheme involving money laundering and other offenses committed in Russia, Cyprus, and Manhattan. The case gained some notoriety in the press due to lurid allegations of the suspicious death while in pretrial detention in Moscow of a Russian lawyer who had uncovered the tax refund fraud scheme, and the alleged defenestration earlier this year of a lawyer working for the decedent’s family. Although the civil forfeiture complaint filed in 2013 sought to forfeit at least $230 million worth of assets, the parties settled for approximately $5.9 million. In the wake of this settlement, both the defense and the government now appear to be claiming victory. Continue reading “Article: Forfeiture Case Based on Alleged Elaborate $230 Million Russian Laundering and Fraud Scheme to Settle”
The real estate industry has escaped compliance of the Anti-Money Laundering Act so far – but experts predict not for long.
Compliance Alert, 05 May 2017
Credit Suisse is forecasting $60 billion in new Chinese investment in Australia’s housing market over the next six years, more than double the $28 billion deluge of the past six years. One question is: how much of this is “clean” money? The likely introduction of further money laundering legislation may crimp the flow of Chinese funds. More broadly, it threatens to impose enormous costs on small businesses already foundering under a mountain of compliance paperwork.
This was brought to our attention last week when a fund manager touched base and bewailed, albeit with good reason, how real estate agents were still excluded from all obligations under Australia’s Anti-Money Laundering and Counter-Terrorism Financing Act. Continue reading “Article: The real estate industry has escaped compliance of the Anti-Money Laundering Act so far – but experts predict not for long.”
Meet the man who’s betting Home Capital will fail: Wells
Jennifer Wells, 12 May 2017
“I’ve had Cott up there. I’ve had Clearly Canadian. Made a killing. I go back with Kevin O’Leary — Learning Co. and Softkey before that. I had a double dip with Garth and Cineplex Odeon and Livent. Melnyk with Biovail. Canada is great. Canada has been wonderful.” Continue reading “Article: Meet the man who’s betting Home Capital will fail: Wells”
Millions in suspected Russian crime proceeds flowed through Canadian banks, companies
Diana Swain and Jennifer Fowler, 10 May 2017
A powerful Russian crime syndicate that’s accused of laundering hundreds of millions of dollars around the world appears to have also flowed millions through nearly 30 Canadian bank accounts.
A CBC News investigation has spent months tracking down some of the individuals and companies attached to those accounts and found the $2 million sent to Canada was spread among recipients ranging from a boxing manager in Montreal to a construction company in Calgary. Continue reading “Article: Millions in suspected Russian crime proceeds flowed through Canadian banks, companies”
Who Turned Out the Lights at Badger Daylighting Ltd.?
Joey Frenette, 05 May 2017
Badger Daylighting Ltd. (TSX:BAD) nosedived 14.27% last Friday following an announcement from activist short-seller Marc Cohodes that he?d gotten a short position in the stock approximately four months ago.
In a previous piece, I?d stated that Badger was ridiculously overvalued with a price-to-earnings multiple of 41. Mr. Cohodes also believes that Badger is overvalued and could drop by a substantial amount going forward.
Badger is a rather underrated company that not many investors have been talking about until Mr. Cohodes made his short position public. Badger is in the business of exposing underground infrastructures like pipelines, electrical lines, or any other buried apparatus that needs to be brought to the light of day in a process called ?daylighting.?
Continue reading “Article: Who Turned Out the Lights at Badger Daylighting Ltd.?”
ETF Short Interest and Failures-to-Deliver: Naked Short-Selling or Operational Shorting?
Richard B. Evans, Rabih Moussawi, Michael S. Pagano, John Sedunov
Darden Business School, 3 May 2017
We identify an alternative source of ETF shorting related to the market maker liquidity provision and creation/redemption activities. This “operational shorting” arises due to a regulatory exemption, allowing ETF market makers to satisfy excess demand in secondary markets by selling ETF shares that have not yet been created.
PDF (79 pages): ETF Short Interest and Failures-to-Deliver: Naked Short-Selling or Operational Shorting?