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In the week ending May 05th 2023, legendary activist investor Carl Icahn has been accused of using a "ponzi-like" structure to mask the reality of years of terrible performance and overvaluation of its holdings - the charges came in a new report from Nate Anderson's Hindenburg Research. Carl's wealth plunged $10 billion on the short-seller report.

Meanwhile, Bill Ackman said that there's a "karmic quality" to Hindenburg Research's attack on his old rival Carl Icahn. The two activist investors feuded over a decade ago when Ackman made a $1 billion bet against Herbalife.

In performance news, London-based Nickel Digital Asset Management, European digital assets hedge fund manager, has delivered a strong performance in its multimanager Diversified Alpha Fund; Hedge fund manager Pierre Andurand's Commodities Discretionary Enhanced Fund ended March down 15% and 34% lower for the year so far, eliminating over half of the fund's 2022 gains; Citadel keeps climbing, Point72 is close behind, and their top competitors are all in the black a third of the way through the year - Point72 had the best month among multi-strategy hedge funds, up 1.58% in April and 4.63% for the year.

In the meantime, Bill Ackman's Pershing Square Holdings was virtually flat in April, rising only 0.6 percent. The publicly-traded hedge fund is now up 4.3 percent for the year, while David Einhorn's Greenlight Capital bounced back in April, gaining 4.6 percent, according to an individual familiar with the performance - the hedge fund has closed out its "bubble basket" shorts and taken new regional bank stakes. After its first quarter loss of 1.3 percent, Greenlight is now up 3.3 percent for the year, net of fees and expenses.

In new launches, Pictet Alternative Advisors (PAA), the a......................

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