Hedge Fund and Insider Trading News: Third Point LLC, Paulson & Co., D.E. Shaw, Carvana Co (CVNA), Lixte Biotechnology Holdings Inc (LIXT), Avalara Inc (AVLR), and More

Dan Loeb’s Third Point Lost 11% in 2018 (The Wall Street Journal)
Activist hedge fund Third Point lost about 11% last year, according to a document and people familiar with the matter. In December alone Third Point was down about 6%, according to an investor update reviewed by The Wall Street Journal. Third Point was one of many hedge funds that struggled in 2018. The average fund lost 2% through November.

Detour Gold names Paulson-backed Bill Williams as interim CEO (Reuters)
Jan 3 (Reuters) – Detour Gold said on Thursday it has picked Paulson & Co-backed nominee Bill Williams to be its interim chief executive officer, replacing Michael Kenyon. The Canadian gold miner was previously involved in a months-long proxy fight with billionaire John Paulson’s hedge fund, which pushed for a complete overhaul of the board and Kenyon’s resignation. Williams is a mining industry veteran and was a former CEO of gold and copper miner Orvana Minerals Corp.

Alex Oakenman / shutterstock.com

Hedge Fund DE Shaw Eyes New ‘Risk Premia’ Strategies (AFR.com)
New York | DE Shaw, the $US 50 billion-in-assets hedge fund founded by the reclusive computer scientist David Shaw, is planning to open up a new ” risk premia” strategy for investors, as it expands its suite of products into a hot area of asset management. The New York-based hedge fund group, founded above a Communist bookstore in 1988, is best known for its computer-powered “quantitative” investing, but has gradually moved into a range of more traditional, non-hedge fund strategies.

The Struggle Continues for Hedge Fund Reinsurers (Reinsurancene.ws)
Hedge fund backed reinsurers Greenlight Capital Re and Third Point Re both reported negative investment returns in the final month of 2018, contributing to negative returns for the full-year and once again bringing the efficacy of this business model into question. Greenlight Re

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