Anthony Scaramucci: Bitcoin is Going to Go to $100,000 Inside 24 Months (The Armchair Trader)
Hedge fund manager and former White House communications advisor Anthony Scaramucci predicted last week that Bitcoin would go to $100,000 within two years. The bullish forecast came as the founder of hedge fund Skybridge Capital outlined some of his other predictions for financial markets in 2022-23. “I think Bitcoin will have 100 million plus wallets and it could be an inflation hedge but that’s a good five to eight years away,” Scaramucci said. “For an average investor I would buy some and average in. The only way you can handle a technology like this is to dollar cost averaging and buy a little every month.”
Ackman’s Pershing Square Takes New Stake in Canadian Pacific (Reuters)
BOSTON (Reuters) – Billionaire investor William Ackman has built a new stake in railroad operator Canadian Pacific, returning to one of his most profitable investments as rail firms eye a boost from the drive to cut carbon emissions and as manufacturing is brought back to the United States and Mexico from abroad. Ackman’s hedge fund Pershing Square Capital Management reported owning 2.8 million Canadian Pacific shares at the end of Dec. 31, 2021, according to a regulatory filing on Monday. That would value the stake at roughly C$280 million ($220 million) at the stock’s closing price on Friday, a fraction of Canadian Pacific’s market value of about C$92 billion.
Hanbury’s Hedge Fund at Odey Writes Down Russia Bets to Zero (Bloomberg)
The money manager’s Brook hedge fund lost 10.6% last month. Crispin Odey made money, while Henry Steel’s money pool lost. A hedge fund at a unit of Odey Asset Management has marked its Russian equity exposures down to “close to or at zero” after the country’s invasion of Ukraine.
American Hedge Fund Third Point Nets £275m as it Sells Stake in FTSE 250-Listed Energean and Profits from Soaring Gas Prices (This is Money)
American hedge fund Third Point has cashed out of FTSE 250-listed Energean after soaring gas prices pushed shares close to record highs. The aggressive investment house – which has grabbed headlines for its activist campaign at Shell – sold its remaining 9.8 per cent stake to other institutional shareholders for £170m.
US Hedge Fund Citadel Plans to Start Making Markets in Crypto Soon: Crypto Moves (Arab News)
RIYADH: Citadel, a US hedge fund and asset management company, plans to start making markets in crypto in the coming months, the Chief Executive Officer and founder, Ken Griffin, said, in an interview with Bloomberg on Thursday. “To the extent that we’re trying to help institutions and investors solve their portfolio allocation problems, we have to give serious consideration to being a market maker in crypto,” Griffin said.
Monday 3/7 Insider Buying Report: MEG (Nasdaq.com)
At Montrose Environmental Group, there was insider buying on Thursday, by Director James K. Price who purchased 25,000 shares for a cost of $41.90 each, for a trade totaling $1.05M. Before this latest buy, Price made one other buy in the past twelve months, purchasing $504,031 shares for a cost of $44.19 each. Montrose Environmental Group is trading up about 0.9% on the day Monday. Price was up about 10.9% on the buy at the high point of today’s trading session, with MEG trading as high as $46.47 at last check today.
Insider Trading: March 7, 2022 (BIV.com)
Insider William James Garner, 10% owner. Company: Tryp Therapeutics Inc. (TSX:TRYP). Shares owned: 18,420,000. Trade date: February 22. Trade total: $1,000,000. Trade: Acquisition of 5,000,000 shares at a price of $0.20 per share. Insider Robert MacKay Buchan, director. Company: Andean Precious Metals Corp. (TSX:APM). Shares owned: 1,873,334. Trade date: February 17. Trade total: $895,000. Trade: Acquisition of 500,000 shares at a price of $1.79 per share.
