Hedge Funds Gave Startups Billions. What Are They Worth? (Bloomberg)
The pain — and then the questions — kept coming last year as prominent hedge funds took turns marking down the value of their stakes in private companies. Every time they wrote down holdings by millions, or even billions, of dollars, investors questioned whether they had gone far enough. An exclusive Bloomberg News analysis offers a partial glimpse into one of the most opaque corners of the investing world, and the findings aren’t reassuring. In many cases, hedge funds and other money managers disagree over how to value private companies, including some of the hottest, such as ByteDance and Discord.
Biggest Hedge Funds will Keep Lion’s Share of Customers in 2023, Data Dhows (Reuters)
The top 5% of the world’s hedge fund managers are set to take 80-90% of investor inflows in 2023, according to new research from Agecroft Partners which raises money for hedge funds. The data highlights the dominance of a small group that has squeezed the total pool of hedge funds to its smallest since 2009.
Wednesday 1/4 Insider Buying Report: CULP, EYEN (Nasdaq.com)
On Tuesday, Culp’s President, Culp Home Fashions, Thomas Bruno, made a $41,310 buy of CULP, purchasing 9,000 shares at a cost of $4.59 a piece. Bruno was up about 7.8% on the purchase at the high point of today’s trading session, with CULP trading as high as $4.95 at last check today. Culp is trading up about 5.1% on the day Wednesday. And at Eyenovia, there was insider buying on Friday, by Stuart M. Grant who bought 21,753 shares for a cost of $1.50 each, for a trade totaling $32,630. Before this latest buy, Grant purchased EYEN on 5 other occasions during the past twelve months, for a total investment of $715,251 at an average of $2.22 per share. Eyenovia is trading up about 2.9% on the day Wednesday. So far Grant is in the green, up about 17.7% on their buy based on today’s trading high of $1.77.
Insiders Selling Hyzon Motors, Canopy Growth And This Social Media Stock (Benzinga)
Hyzon Motors: The Trade: Hyzon Motors Inc. (HYZN) 10% owner Horizon Fuel Cell Technologies Pte Ltd sold a total of 3,769,592 shares at an average price of $1.71. The insider received around $6.45 million from selling those shares. Pinterest: The Trade: Pinterest, Inc. (PINS) SVP, Products Naveen Gavini sold a total of 14,295 shares at an average price of $23.51. The insider received around $336.06 thousand as a result of the transaction.
UK Equity Hedge Fund’s Time to Shine in a Falling Market (Opalesque)
Kernow, a UK equity long/short fund, returned 4.5% in December 2022 despite a fall in the UK equity market. Britain’s domestically oriented mid-cap index, the FTSE 250 Index (which includes the 101st to the 350th largest companies listed on the London Stock Exchange), slumped 19.7% in 2022, its worst performance since 2008. Last year the UK markets faced changes in the country’s political leadership, a cost-of-living crisis and a hawkish central bank, with traders now fearful of the economy tipping into a recession in 2023, said Reuters. The internationally focused FTSE 100 share index (the 100 companies listed on the LSE with the highest market capitalisation) ended the final trading day of 2022 almost 1% higher than it began the year, helped by a sharp rise in share prices of energy companies and miners, reported The Guardian.
