Bill Ackman, an Early Coupang investor, Donates His More than $1 Billion Stake to Charity (CNBC)
Billionaire investor Bill Ackman said Monday he donated his entire stake in Coupang – worth more than $1 billion – to charity following the South Korean e-commerce company’s IPO last week. Ackman, who runs the Pershing Square Capital Management hedge fund, invested his personal money as an early backer of Coupang, CNBC first reported last Thursday on the firm’s NYSE debut.
Two Sigma to Test Remote Work Twice a Week After Labor Day (Bloomberg)
Two Sigma Investments plans to ask staff to return to the office in September and will experiment with a hybrid model that allows them to work remotely two days a week. Employees should expect the change to take effect after Labor Day, “but that’s going to depend on the science, the availability of vaccines, and schools opening, global regulations,” Two Sigma Chief Technology Officer Jeff Wecker said Monday during the AI and Data Science in Trading conference.
Billionaire Investor Mike Novogratz Says Bitcoin will be Like a Report Card that Measures How the Government is Handling Citizens’ Finances (Business Insider)
Bitcoin bull Mike Novogratz told CNBC on Monday he expects citizens to view bitcoin as a report card that measures how the government is handling their finances. “Bitcoin will literally be like a report card for how citizens think the government is doing managing their finances,” the Galaxy Digital CEO said on CNBC’s “Squawk Box” after the cryptocurrency hit a record high above $61,000 over the weekend.
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New Hedge Fund Anomaly Capital Picks 510 Madison for HQ (Commercial Observer)
Anomaly Capital Management, a new hedge fund founded by the former co-chief investment officer of Viking Global Investors, will set up shop at 510 Madison Avenue in Midtown, Commercial Observer has learned. Anomaly inked a deal for 11,500 square feet on the entire 25th floor of Boston Properties’ 30-story building between East 52nd and East 53rd streets, a source with knowledge of the deal said.
Blackstone’s Hedge-Fund Business to Launch Growth Strategy (The Wall Street Journal)
The world’s biggest investor in hedge funds has hired former hedge-fund manager Scott Bommer to launch a new growth strategy, a move aimed at expanding Blackstone Group Inc.’s hedge-fund business with offerings intended to generate big returns for clients. The Blackstone Horizon platform, to be run by Mr. Bommer, will thematically invest in money managers focused on fast-growing public and private companies, Blackstone said. Horizon also will invest directly in stock markets.
Industry Recognition for Nordic HFs (Hedge Nordic)
Stockholm (HedgeNordic) – Five Nordic hedge fund managers were distinguished at last week’s Hedgeweek European Awards, compiled in conjunction with Bloomberg. The awards are based on a peer review system and decided by a poll of Hedgeweek’s readers, including institutional and high-net-worth-investors, hedge fund managers, and other industry professionals. For the manager categories, the shortlists at the Hedgeweek European Awards 2021 are based on data provided by Bloomberg, with the candidates being selected based on annualized performance over the 12-month period ending September 2020.
Ex-H2O and State Street Execs Unveil ESG-Focused Macro Hedge Fund LIOR Global (Hedge Week)
Jeremy Touboul, a former fund manager at H2O Asset Management, and Raphaël Remond, former CEO of State Street France, have launched LIOR Global Partners, a new sustainability-focused discretionary global macro hedge fund firm. LIOR Global Partners will use a top-down research process to identify a mix of directional, relative value and thematic investment opportunities across a mix of credit, equities, sovereign bonds and currencies, investing both long and short to generate absolute returns regardless of market environment.
Hedge-Fund Trader Sanjay Shah Now Faces German Cum-Ex Charges (Bloomberg)
Sanjay Shah, the founder of hedge-fund Solo Capital Partners LLP, was charged in Germany with money laundering over trades linked to the Cum-Ex tax scandal. Shah and six others were charged by Hamburg prosecutors, a spokeswoman for the authority said on Monday. She declined to identify the other suspects.
Insider Trading: March 15, 2021 (BIV.com)
Insider E. Lawrence Sauder, director, officer. Company: Interfor Corp. (TSX:IFP). Shares owned: 227,774. Trade date: Feb 25, 26. Trade total: $1,494,369. Trade: Sale of 53,200 shares at prices from $28.07 to $28.18 per share. Insider Lionel Terry Robins, director. Company: Cielo Waste Solutions Corp. (CNSX:CMC). Shares owned: 2,191,250. Trade date: Feb 25, 26. Trade total: $472,450. Trade: Sale of 859,000 shares at a price of $0.55 per share.
Last Week’s Notable Insider Buys: News Corp, Microsoft, Snowflake, Walmart And More (Benzinga)
With the earnings reporting season underway, plenty of insiders are now adding to their stakes. Here are some of the most noteworthy insider purchases that were reported in the past week. Snowflake Inc (SNOW) saw a 10% owner acquire over $39.31 million worth of shares this past week. That was more than 1.74 million shares costing between $219.61 and $235 apiece. Note that some other insiders sold more than 690,000 shares altogether last week as well. A beneficial owner at cloud company Fastly Inc (FSLY) stepped up to the buy window early last week. That owner indirectly added 500,000 shares to its stake. At prices that averaged $65.41 per share, that totaled more than $32.07 million. In addition, an executive shed over 14,000 shares last week as well.
Monday 3/15 Insider Buying Report: ICPT, DBX (Nasdaq.com)
At Intercept Pharmaceuticals, a filing with the SEC revealed that on Friday, Director Srinivas Akkaraju purchased 237,000 shares of ICPT, at a cost of $21.17 each, for a total investment of $5.02M. So far Akkaraju is in the green, up about 12.7% on their buy based on today’s trading high of $23.86. Intercept Pharmaceuticals Inc is trading up about 11.7% on the day Monday. And at Dropbox, there was insider buying on Wednesday, by Robert J. Mylod Jr. who purchased 100,000 shares for a cost of $24.59 each, for a trade totaling $2.46M. This buy marks the first one filed by Mylod Jr. in the past year. Dropbox is trading up about 3.4% on the day Monday. So far Mylod Jr. is in the green, up about 14.9% on their buy based on today’s trading high of $28.25.
Roblox Corp (RBLX) President & CEO David Baszucki Sold $83.9 million of Shares (Guru Focus)
President & CEO of Roblox Corp, David Baszucki, sold 1,300,000 shares of RBLX on 03/10/2021 at an average price of $64.5 a share. The total sale was $83.9 million. Roblox Corp has a market cap of $38.54 billion; its shares were traded at around $69.700000.
What Did This CEO Just Do with Personal Shares of Kaiser Aluminum (NASDAQ: KALU)? (Analyst Ratings)
On March 12, the President & CEO of Kaiser Aluminum (KALU), Keith Harvey, sold shares of KALU for $1.27M. Following Keith Harvey’s last KALU Sell transaction on March 14, 2018, the stock climbed by 28.7%. In addition to Keith Harvey, 5 other KALU executives reported Sell trades in the last month. The company has a one-year high of $129.81 and a one-year low of $50.49. Currently, Kaiser Aluminum has an average volume of 94.08K. KALU’s market cap is $1.98 billion and the company has a P/E ratio of 69.80.
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