Whale Rock Dumps DocuSign, But Adds to Big E-Commerce Bet — Here are the Fund’s Top Holdings (CNBC)
Alex Sacerdote’s Whale Rock Capital Management shuffled its deck of tech stocks during the third quarter, dumping one of its largest holdings and adding a stake in a top e-commerce stock, according to securities filings. Sacerdote, one of the rising stars of the hedge fund world, started Whale Rock in 2006 and made big bets on stay-at-home stocks earlier this year. The fund has nearly $15 billion in equity assets, according to FactSet.
CARN’s Latitude and Longitude (Hedge Nordic)
Stockholm (HedgeNordic) – Norwegian asset manager CARN Capital is renaming its long/short fundamental equity fund CARN Long Short into CARN Latitude following the launch of a long-only equity fund. “The long/short equity fund is joined by Longitude – a carve-out of our long book,” Erik Haukaa, the recently-appointed Head of Investor Relations at CARN Capital, tells HedgeNordic. “A ‘carn’ is a marker meant to point out direction, by functioning as a navigational reference,” Haukaa explains the origin of the names of the long/short and long-only equity funds. “After five years in operation, we are very happy to announce that we are taking another step on our journey at CARN – by launching a long-only fund,” Haukaa tells HedgeNordic.
Jim Chanos Sounded the Alarm on Day Traders, Corporate Fraud, and Gig-Economy Companies in a Recent Interview. Here are the 12 Best Quotes (Business Insider)
Veteran short-seller Jim Chanos sounded the alarm on day trading, fraud, and gig-economy companies in a RealVision interview published this week and filmed on November 11. The president of Kynikos Associates – who famously shorted Enron before it filed for bankruptcy in 2001 — also discussed IBM, Wirecard, and heady market valuations.
Luis Louro / shutterstock.com
Ray Dalio Admits He May Be Wrong About Bitcoin But Still Concerned of Government Ban (Bitcoin.com)
Billionaire hedge fund manager Ray Dalio has admitted that he may be wrong about bitcoin after stating that governments will ban the cryptocurrency if it “becomes material.” Dalio founded Bridgewater Associates; his hedge fund is the largest in the world. Ray Dalio Open to Learning About Bitcoin: Bridgewater Associates founder Ray Dalio has admitted that he may be wrong about bitcoin after stating last week that he did not think that cryptocurrencies “will succeed in the way people hope they would.” He further said that governments will outlaw bitcoin if it becomes material.
Start-Up Hedge Fund Ironhold Scopes US-India Dynamic with Novel Equity-Currency Approach (Hedge Week)
Launched earlier this year, New York-based Ironhold Capital’s equity-focused hedge fund is seeking to capitalise on opportunities in value-oriented stocks across the US and India. Influenced by the investment styles of the likes of Joel Greenblatt, Warren Buffett and Ray Dalio, Ironhold combines elements of stock market value investing with currency hedging into one strategy, explains Siddarth Singhai, the firm’s chief investment officer.
Bill Ackman is Bullish on Stocks for 2021, But has a Hedge Position for a ‘Tragic’ End to 2020 (CNBC)
Billionaire hedge fund manager Bill Ackman, who made big money betting against the markets earlier this year, said he’s optimistic about a recovery in 2021, but investors will need to get through a “tragic” year-end first. “We think the next couple of months unfortunately are going to be tragic and very difficult for the globe and for our country in particular,” Ackman said on a Pershing Square quarterly earnings call Thursday. “We have basically a 9/11 every day.”
AQR to Liquidate Some Funds After ‘Persistent Outflows’ (Institutional Investor)
AQR Capital Management is slimming down, this time in the mutual fund world. Next month, the alternative investment firm plans to shut down several liquid alternative mutual funds, including a multi-strategy alternative fund, high- and low-volatility funds, and a volatility risk premium strategy, and according to Securities and Exchange Commission filings.
The Upside of Downside Protection (Hegde Nordic)
Stockholm (HedgeNordic) – One of the most widely recognized pearls of wisdom of Warren Buffett goes along the lines of “Rule number one: Don’t lose money. Rule number two: don’t forget rule number one.” A three-member team out of Stockholm comprised of Thomas Pohjanen (pictured), Björn Suurwee and Marek Ozana too believe that avoiding a loss should be the primary goal of their fixed-income macro hedge fund Excalibur.
Energy Hedge Fund Westbeck Eyes “Spectacular” Oil Market Rebound Following Covid Vaccine Breakthrough (Hedge Week)
London-based energy hedge fund Westbeck Capital’s high-flying flagship strategy was brought back down to earth during a dismal October – but the oil-focused fund is staging a November fightback following news of a Covid-19 vaccine breakthrough. The Westbeck Energy Opportunity Fund slipped 10.8 per cent last month – its second double-digit loss in as many months, having suffered a 15 per cent slide in September – after most oil equities were hammered in October.
Thursday 11/19 Insider Buying Report: UEPS, ATRC (Nasdaq.com)
On Tuesday, Net 1 UEPS Technologies’ , Antony C. Ball, made a $624,686 buy of UEPS, purchasing 185,148 shares at a cost of $3.37 a piece. So far Ball is in the green, up about 1.1% on their buy based on today’s trading high of $3.41. Net 1 UEPS Technologies is trading up about 1.8% on the day Thursday. Before this latest buy, Ball bought UEPS at 2 other times during the past year, for a total cost of $902,468 at an average of $3.15 per share. And at AtriCure, there was insider buying on Tuesday, by Director Scott William Drake who bought 12,350 shares at a cost of $40.54 each, for a total investment of $500,669. This purchase marks the first one filed by Drake in the past year. AtriCure is trading up about 6.1% on the day Thursday. Drake was up about 8.0% on the purchase at the high point of today’s trading session, with ATRC trading as high as $43.79 at last check today.
Shockwave Medical Inc (SWAV) President & CEO Douglas Evan Godshall Sold $26.5 million of Shares (Guru Focus)
President & CEO of Shockwave Medical Inc, Douglas Evan Godshall, sold 280,000 shares of SWAV on 11/18/2020 at an average price of $94.56 a share. The total sale was $26.5 million. ShockWave Medical Inc has a market cap of $3.31 billion; its shares were traded at around $96.50 with and P/S ratio of 52.08. GuruFocus has detected 1 severe warning sign with ShockWave Medical Inc.
A Director at Maxlinear (NYSE: MXL) is Selling Shares (Analyst Ratings)
Yesterday, a Director at Maxlinear (MXL), Donald Schrock, sold shares of MXL for $292.3K. Following Donald Schrock’s last MXL Sell transaction on February 13, 2020, the stock climbed by 8.8%. Based on Maxlinear’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $157 million and GAAP net loss of -$36,645,000. In comparison, last year the company earned revenue of $80.02 million and had a GAAP net loss of $4.71 million. The company has a one-year high of $30.52 and a one-year low of $7.79. Currently, Maxlinear has an average volume of 405.58K.
Square Inc (SQ) President, CEO & Chairman Jack Dorsey Sold $17.6 million of Shares (Guru Focus)
President, CEO & Chairman of Square Inc, Jack Dorsey, sold 100,000 shares of SQ on 11/16/2020 at an average price of $175.95 a share. The total sale was $17.6 million. Square Inc is a software company offering solutions ranging from payments and point-of-sale services to financial and marketing services. It offers a free software app with its hardware to turn mobile devices into powerful POS solutions in minutes.
