Comeback quashed for faith-driven investor Bill Hwang
Lawrence Delevingne, 30 March 2021
(Reuters) – Bill Hwang’s comeback was nearly complete. Once punished by U.S. and Asian regulators for stock trading rule violations at his former hedge fund, the New York investor rebuilt his fortune to about $10 billion. Major Wall Street banks once again competed for his business. And his charitable foundation’s coffers swelled by hundreds of millions of dollars.
Hwang was making big money again, inspired by a renewed Christian faith.
“When we create good companies through the capitalism that God has allowed, it enhances people’s lives….God delights in those things,” Hwang said in a video posted online in 2019 here. Continue reading “Article: Comeback quashed for faith-driven investor Bill Hwang”
Kerrisdale announces short position in First Majestic Silver Corp
Lawrence Delevingne, 01 September 2016
NEW YORK (Reuters) – Kerrisdale Capital Management now holds a short position in the stock and via options of First Majestic Silver Corp. FR.TO, according to a report released Thursday by the hedge fund firm.
Kerrisdale, led by Sahm Adrangi, wrote in the report that the Canadian mining company is in a “speculative frenzy” and that its valuation is “now outrageously detached from reality.”
Kerrisdale, which manages approximately $350 million and has lost money this year through July, said First Majestic Silver could fall between 70 percent and 80 percent from its current levels near $12 a share. The stock has gained approximately 267 percent this year through Wednesday.
U.S. listed shared of First Majestic fell more than 5 percent in early trading Thursday following news of the report. Adrangi declined to comment. First Majestic did not immediately respond to a request for comment.
Continue reading “Article: Kerrisdale announces short position in First Majestic Silver Corp”