Anthony Scaramucci Says it’s Not Too Late to Buy Bitcoin – Just Look at Amazon’s Run Since 2009 (CNBC)
SkyBridge Capital founder Anthony Scaramucci believes bitcoin can move even higher over the long term and become a less volatile asset as adoption picks up. He likened his outlook on the digital cryptocurrency to shares of Amazon. Scaramucci made the comparison during an interview Thursday on CNBC’s “Squawk Box.” Co-host Andrew Ross Sorkin asked the hedge fund manager what would happen to the price if early bitcoin investors sell the digital currency because they can no longer generate outsized returns.
Toshiba Investors Back Hedge Fund’s Call to Probe AGM Voting (Bloomberg)
Investors of Toshiba Corp. delivered a stern rebuke to management, passing a resolution put forward by an overseas-based hedge fund to investigate the fairness of voting at the 2020 annual shareholders’ meeting. The proposal by Singapore-based Effissimo Capital Management, a secretive fund that is Toshiba’s largest shareholder, called for the appointment of independent investigators to probe voting at the company’s last AGM, where the fund says several investors were “unable to vote in a manner consistent with their intentions.”
Video: Nordic Hedge Funds Continue Run (Hedge Nordic)
Stockholm (HedgeNordic) – The Nordic Hedge Index enjoyed its fourth consecutive month of positive returns in February. The NHX advanced by 1.3% in February, now up 1.9% on the year. The advance was broadly supported with four of the five sub-strategies gaining. The short video gives an update on the top and bottom performers of the month, as well as brief updates from HCP Quant, Symmetry Invest and Estlander & Partners. Also, don’t miss the introduction from the five managers nominated for the “Best Nordic Hedge Fund (Overall)” at the 2020 Nordic Hedge Award.
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Trends in Demand for Hedge Fund Strategies (Hedge Week)
By Don A Steinbrugge, Agecroft Partners – The hedge fund industry is dynamic, comprising of numerous strategies that attract varying degrees of interest over time. Demand for each strategy is impacted by many variables including capital market valuations, expectations of economic growth, inflation, market liquidity, and risk appetite, among others. Industry professionals spend a great deal of time analysing these variables in order to identify which strategies they believe offer the best opportunities for out-performance. One way to consider this is to ascertain which strategies are attracting current investor interest.
United Development Funding IV Recommends Shareholders Reject Hedge Fund NexPoint’s Third Extended Hostile Tender Offer; Provides Supplemental Information (GlobeNewswire.com)
GRAPEVINE, Texas, March 18, 2021 (GLOBE NEWSWIRE) — United Development Funding IV (“UDF IV” or the “Trust”) announced that it recommends Trust shareholders reject the third extended unsolicited tender offer made by hedge fund NexPoint Strategic Opportunities Fund (“NexPoint”) to purchase all Trust common shares (the “Shares”) for $1.10 per share (the “Tender Offer”). Shareholders should be aware that they are not required to tender any Shares to NexPoint. To reject the Tender Offer, a shareholder should simply ignore it.
Hedge Fund Manager Chase Coleman Made These Investing Mistakes Even as He Racked Up Big Returns (CNBC)
Hedge fund manager Chase Coleman revealed several mistakes he’s made in the two decades he’s headed Tiger Global, despite the firm’s market-beating track record. Coleman — protégé of legendary investor Julian Robertson — is reflecting on his time at the helm of Tiger Global, as the hedge fund reached its 20-year anniversary.
Man Group’s Ellis Says Some Hedge Funds Are Being Too Greedy (Bloomberg)
In the never-ending give and take between hedge funds and their investors, some managers are simply taking too much. Says who? Surprisingly, a hedge fund manager — one of the biggest, in fact. “It’s really important that most of the alpha goes to the clients,” Luke Ellis, who oversees about $124 billion as chief executive officer of Man Group Plc, said in a Bloomberg “Front Row” interview. “The client is the one taking all the risk, and the client should get the majority of the rewards.”
Thursday 3/18 Insider Buying Report: BHVN, ORCL (Nasdaq.com)
On Wednesday, Biohaven Pharmaceutical Holding’s , John W. Childs, made a $999,932 purchase of BHVN, buying 13,157 shares at a cost of $76.00 each. Biohaven Pharmaceutical Holding is trading off about 2.6% on the day Thursday. Before this latest buy, Childs bought BHVN on 5 other occasions during the past year, for a total cost of $3.43M at an average of $68.57 per share. And on Tuesday, Director Rona Alison Fairhead purchased $688,966 worth of Oracle, purchasing 10,242 shares at a cost of $67.27 each. Oracle is trading up about 0.4% on the day Thursday. Investors are able to snag ORCL at a price even lower than Fairhead did, with shares trading as low as $66.09 at last check today — that’s 1.8% below Fairhead’s purchase price.
The Chairman of Arizona Silver Exploration (Other OTC: AZASF) is Buying Shares (Analyst Ratings)
Yesterday, the Chairman of Arizona Silver Exploration (AZASF), Michael Stark, bought shares of AZASF for $4,750. This recent transaction increases Michael Stark’s holding in the company by 1% to a total of $377.5K. Currently, Arizona Silver Exploration has an average volume of 44.00K. AZASF’s market cap is $9.43 million and the company has a P/E ratio of -6.40.
Square Inc (SQ) President, CEO & Chairman Jack Dorsey Sold $24.2 million of Shares (Guru Focus)
President, CEO & Chairman of Square Inc, Jack Dorsey, sold 100,000 shares of SQ on 03/15/2021 at an average price of $242.07 a share. The total sale was $24.2 million. Square Inc is a software company offering solutions ranging from payments and point-of-sale services to financial and marketing services.
Warren Buffett’s Berkshire Hathaway Missed Out on $5 Billion by Selling the ‘Big 4’ Airline Stocks (Business Insider)
Warren Buffett‘s Berkshire Hathaway missed out on $5 billion by exiting the “big four” US airlines last April. The famed investor’s company previously owned between 8% and 11% of American Airlines, Delta Air Lines, Southwest Airlines, and United Airlines. Berkshire spent a total of $7 billion to $8 billion in building those stakes, which were worth over $10 billion at the end of 2019, SEC filings show. However, shares in the four airline stocks plunged with the broader market when pandemic fears peaked last spring. Buffett and his team dumped their stakes in April, likely netting about $4.5 billion based on the quartet’s average trading prices that month.
Chemical Group CEO Retires After Stepping Aside When Named in Insider Trading Investigation (Business Live)
The chief executive of global chemicals firm Tronox has retired, having stepping aside when he was named in an insider trading investigation. Jeffry Quinn led the acquisition of Cristal by the titanium dioxide giant, bringing the South Humber Bank into the US multinational’s portfolio. He withdrew from his role – which included sitting as chair of the board – over Christmas, after becoming embroiled in an investigation and subsequent court case relating to a previous role in another company.
