John Paulson to Participate in Piraeus Capital Increase
Bloomberg 2 hrs ago Jan-Henrik Förster and Sotiris Nikas
(Bloomberg) John Paulson is among investors planning to participate in a capital increase by Piraeus Bank aimed at helping the Greek lender to clean up its balance sheet and allow the government to reduce its stake.
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The billionaire investor, already one of the biggest private shareholders in Greece’s second-largest bank, will take up a significant stake alongside two other anchor investors, in a share sale that could raise as much as 1.38 billion euros ($1.66 billion), Piraeus said in a prospectus for the increase.
Looking down their nose at you : GameStop frenzy showed a fresh contempt for hedge funds. Why do Americans hate them? Jessica Menton, USA TODAY
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In the middle of a pandemic and slow economic recovery, Americans think they’ve identified their Wall Street villain: hedge funds.
Their nemesis is summed up in a few searing images: a hedge fund manager who makes millions betting that the subprime mortgage market will collapse, without warning them. Or another relaxing on a yacht as the economy tanks.
Years of anger culminated late last month when a group of angry small-time investors on Reddit took on a few of those firms in the GameStop “short squeeze” frenzy. That spurred millions of others to join in, as their effort to drive up the price of a stock perceived as undervalued soon shifted to a campaign to “Stick it to Wall Street. They used the squeeze to rally the share price and make profits for themselves while forc