Three Arrows Co-Founder Re-Emerges With Tweet Accusing Liquidators of ‘Baiting’ (Bloomberg)
Zhu Su, the co-founder of bankrupt crypto hedge fund Three Arrows Capital, broke an almost month-long silence with a tweet accusing court-appointed liquidators of “baiting.” In his first Twitter posting since June 15, Zhu shared a screen shot of what appears to be an email exchange between the fund’s legal counsel at Advocatus Law LLP and an executive in charge of liquidating Three Arrows.
Short-Seller Muddy Waters Takes Short Position in Renewable Energy Firm Hannon Armstrong (Reuters)
NEW YORK, July 12 (Reuters) – U.S. short-selling firm Muddy Waters said on Tuesday it had acquired an undisclosed short position in energy company Hannon Armstrong Sustainable Infrastructure Capital (HASI.N). Currently, seven brokerages rate the Maryland-based energy company “buy” or higher, three have it on hold and one on a sell rating, with an average target price of $55, according to Refinitiv.
AIMA Sets Out Blueprint for Hong Kong to Retain Its Status as a Leading Global Financial Centre (Opalesque)
Opalesque Industry Update – The alternative investment industry has experienced outstanding growth in Hong Kong, report AIMA and PwC in a new report. The city manages the lion’s share of alternative assets within Asia Pacific, with more than 740 alternative asset managers having established offices there. The city is also home to more than half of the major hedge funds located in Asia Pacific. However, Hong Kong lags the New York metropolitan area and London in terms of assets under management (AUM).
Tuesday 7/12 Insider Buying Report: ANNX (Nasdaq.com)
On Thursday, Annexon’s Director, Muneer A. Satter, made a $9.42M purchase of ANNX, buying 2,453,988 shares at a cost of $3.84 each. Satter was up about 19.8% on the buy at the high point of today’s trading session, with ANNX trading as high as $4.60 at last check today. Annexon is trading up about 9.5% on the day Tuesday. This buy marks the first one filed by Satter in the past year.
Insiders Buying Rocket Companies, Schnitzer Steel And This Energy Stock (Benzinga)
Rocket Companies: The Trade: Rocket Companies, Inc. (RKT) CEO Jay Farner acquired a total of 46,000 shares at an average price of $8.68. To acquire these shares, it cost around $399.28 thousand. Earthstone Energy: The Trade: Earthstone Energy, Inc. (ESTE) Director Jay F. Joliat acquired a total of 20,237 shares at an average price of $11.66. To acquire these shares, it cost around $235.96 million.
Top Performing Emerging Market Fund Sounds Alarm on Debt Defaults (Bloomberg)
More debt defaults are going to roll across emerging markets because countries can’t cope with the sudden increase in borrowing costs, according to Man Group, which runs one of the best-performing funds in the industry. About 10% of dollar-denominated sovereign debt is at a high risk of default, said portfolio manager Lisa Chua in an interview with Bloomberg. Russia and Sri Lanka have already defaulted this year, and there’s now a record 19 developing countries with sovereign debt trading at distressed levels.
