Hedge Funds ‘Extremely Surprised’ by FTX Collapse, Eye Tighter Due Diligence (Financial News)
Hedge funds have expressed their shock at the speed and scale of FTX’s collapse, as executives look to introduce tighter safeguards on their crypto exposure in future. “FTX’s fall from a trusted counterparty to bankruptcy was fast and extremely surprising,” Sadie Raney, chief executive of crypto hedge fund Strix Leviathan told Financial News. “The impact of this collapse will change the industry for many years to come.”
Deuterium Capital Management Launches Long/Short Macro Fund (Hedge Week)
Deuterium Capital Management (DCM), a US based asset manager with more than $1 billion in AUM, is launching a UCITs, daily-dealing, long/short fund using the same models and algorithms as its top decile-performing Global Dynamic Allocation fund. DCM has been running a simulation of a long/short fund alongside the long-only Global Dynamic Allocation fund since 2013, illustrating a USD cumulative net return of 163% and an annualised return of 11%, comfortably outperforming major hedge fund and equity price indices.
Hedge Fund Collapse Leads to £500k Writedown for Irish Property Developer (BusinessPost.ie)
Jersey-based David Kennedy had been planning to build a €50 million cancer treatment centre in Kildare town backed by a Neil Woodford-linked firm, but it will not now proceed after the collapse of Woodford’s hedge fund empire. The collapse of Neil Woodford’s hedge fund empire has resulted in a £500,000 write-down for David Kennedy, an Irish property developer based in Jersey. Kennedy had been planning to build a €50 million cutting-edge proton beam cancer treatment centre on the site of the former Magee Barracks in Kildare town, along with a Lidl supermarket and 300 houses.
Insider Trading: November 14, 2022 (BIV.com)
Insider Glenn Pountney, 10% owner. Company: Mirasol Resources Ltd. (TSX-V:MRZ). Shares owned: 6,122,000. Trade date: Oct. 28. Trade total: $23,646,000. Trade: Acquisition of 563,000 shares at a price of $42.00 per share. Insider Robert Melvin Douglas Cross, director. Company: Standard Lithium Ltd. (TSX-V:SLI). Shares owned: 187,401. Trade date: Oct. 28. Trade total: $187,600. Trade: Acquisition of 40,000 shares at a price of $4.69 per share.
Monday 11/14 Insider Buying Report: RKT, VST (Nasdaq.com)
At Rocket Companies, a filing with the SEC revealed that on Wednesday, Chief Executive Officer Jay Farner bought 92,700 shares of RKT, for a cost of $6.44 each, for a total investment of $596,885. So far Farner is in the green, up about 25.2% on their buy based on today’s trading high of $8.06. Rocket Companies is trading off about 0.9% on the day Monday. Before this latest buy, Farner bought RKT at 65 other times during the past year, for a total cost of $30.48M at an average of $8.12 per share. And also on Wednesday, Director Scott B. Helm bought $356,125 worth of Vistra, buying 15,000 shares at a cost of $23.74 each. Before this latest buy, Helm purchased VST on 3 other occasions during the past twelve months, for a total cost of $921,140 at an average of $23.62 per share. Vistra is trading off about 1% on the day Monday.
Tesla, Helmerich & Payne And This Energy Stock Insiders Are Selling (Benzinga)
Tesla: The Trade: Tesla, Inc. (TSLA) CEO Elon Musk sold a total of 9,650,000 shares at an average price of $208.58. The insider received around $2.01 billion from selling those shares. Musk also sold 5.45 million shares at $208.58 and 4.40 million shares at an average price of $191.63. Schlumberger: The Trade: Schlumberger Limited (SLB) Chief Accounting Officer Howard Guild sold a total of 20,053 shares at an average price of $53.00. The insider received around $1.06 million as a result of the transaction.
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