Prime Capital Squarely Faces All Manner of Hedge Fund Strategies (Opalesque)
Opalesque has just called on Prime Capital, one of the large independent alternative asset managers in Germany, for a Virtual Manager Visit. With more than €10bn (US$11.8bn) in alternative assets, Prime Capital has managed to return roughly 7% annually (net) through its three strategies: a flagship portfolio of blue-chip hedge funds, a specialised hedge fund portfolio and a niche alternative credit hedge fund portfolio. The manager claims its underlying hedge funds have been faring well in the current market. “We are in the late stage of a very long bull market for both equities and bonds,” says Dr. Werner Goricki, CIO. “This has led to very high valuations in most asset classes, and this leads to high uncertainty with volatility and dispersion. Usually, such times of uncertainty are the best environment for hedge funds to play out their advantages, and we at Prime Capital have a unique track-record of resilience in such difficult markets.”
Hedge Fund Short Sellers Dented by Sainsbury’s Rebound, as UK Supermarket Giant Sees Sales Surge (Hedge Week)
Hedge funds betting against Sainsbury’s have taken a dent after the UK supermarket giant’s share price rose this week on the back of strong Q1 sales numbers, prompting the FTSE 100-listed firm to revise its profit outlook upwards. A number of well-known hedge funds – including BlackRock, Marshall Wace and Citadel LLC – have built negative wagers against Sainsbury’s lately, while the likes of Pelham Capital and Third Point continue to hold longer-standing bearish bets, according to regulatory disclosures made to the FCA. The UK’s second biggest supermarket chain – which is one of the ‘Big Four’ grocers alongside Tesco, Asda, and Morrisons – has been a popular short among hedge funds over the past 18 months.
Hedge Fund Driver Management Pushes for Sale at Codorus Valley Bancorp (Reuters)
BOSTON (Reuters) – Activist investment firm Driver Management, which specializes in pushing small banks to improve their financial returns, has found a new target and is now urging Codorus Valley Bankcorp Inc to consider letting itself be bought, two sources familiar with the matter said on Tuesday. Driver Management, founded two years ago by former investment banker Abbott Cooper, owns a 6% stake in Codorus, a bank holding company, and is expected to make a regulatory filing disclosing its stake and some of its intentions soon, the sources said.
Warren Buffett was Eager to Read Robinhood’s IPO Filing. The Investing App’s Reliance on Options Trading won’t have Surprised Him (Business Insider)
Warren Buffett declared in May that he was eager to read Robinhood’s IPO registration statement, as he wanted to see how the zero-commission trading platform would explain its business model. The famed investor and Berkshire Hathaway CEO got his chance when Robinhood published its S-1 form last week. “I’m concerned about how they handle the source of income when they say that they don’t charge the customer anything,” Buffett said at Berkshire’s latest annual meeting. “It’ll just be interesting to watch how they describe it.”
Bridgewater Staked Over $ 1 Billion on Falling Markets (Debate Post)
(BFM Bourse) – The biggest hedge fund in the world, controlled by American billionaire Ray Dalio – has bet $ 1.5 billion that the stock markets – the S&P 500, the Euro Stoxx 50 or both – fall by here the month of March. Bridgewater Associates is banking on falling equity markets by the spring. And don’t do it half-way since he allocated some $ 1.5 billion to purchase options, a deal that would be a winner if the S&P 500 and / or Euro Stoxx 50 were to pull back from here. the month of March, reports the Wall Street Journal.
Former Enron Executive: SEC Whistleblower Program Is a Game Changer (The Wall Street Journal)
Sherron Watkins, the Enron Corp. executive who warned management about fraud, said not having confidentiality and protection for whistleblowers can have a cost. Nearly 20 years after the energy company’s collapse, Ms. Watkins, 61 years old, said being labeled a whistleblower has been a challenge to her career ever since.
The Chairman & Chief Executive Officer of Cushman & Wakefield (NYSE: CWK) is Selling Shares (Analyst Ratings)
Yesterday, the Chairman & Chief Executive Officer of Cushman & Wakefield (CWK), Brett White, sold shares of CWK for $1.06M. In addition to Brett White, 6 other CWK executives reported Sell trades in the last month. Based on Cushman & Wakefield’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $1.92 billion and GAAP net loss of -$17,200,000.
