Bill Ackman Scored on Pandemic Shutdown and Bounceback (The Wall Street Journal)
Over the past couple of years, the hedge-fund manager made two complex trades, one presaging the economy’s swift shutdown and the other its fevered reopening. His investments netted him nearly $4 billion in profit. As the coronavirus emerged, Bill Ackman made billions betting that the market was misjudging the virus’s economic toll. Then he did it again a year later.
Elliott, Vista Equity to Buy Software Firm Citrix in $16.5 bln Deal (Reuters)
Jan 31 (Reuters) – Hedge fund Elliott Management and investment firm Vista Equity Partners have agreed to buy Citrix Systems in a deal valued at $16.5 billion, the cloud computing company said on Monday. Reuters reported on Sunday that Elliott and Vista were nearing a $13 billion deal for Citrix, citing a person familiar with the matter, as they seek to tap the pandemic-driven boom in cloud computing.
Two Sigma’s VC Push (Institutional Investor)
With most of its hedge funds generating their best returns in three years, the quant specialist is busy developing new funds devoted to private companies. Two Sigma is raising money for two new venture capital funds. The quant specialist disclosed in separate regulatory filings that it is seeking capital for Two Sigma Ventures IV and Two Sigma Ventures Opportunity Fund II. Two Sigma Ventures IV is the firm’s fourth early-stage venture fund.
Photo by Austin Distel on Unsplash
How to Get Accepted into Point72’s Ultra-Elite Analyst Training Program, Whose Acceptance Rate is Less Than 1% (Business Insider)
Steven Cohen‘s $23 billion hedge fund gets 16,000 applications a year for Point72 Academy. The academy is a 10-month training for college graduates looking to become investment analysts. The firm’s head of professional development shares what applicants can do to impress her. High grades from a top university and a two-year stint at an investment bank might be enough to get your foot in the door at some hedge funds.
Årets Hedgefond 2021 (Hedge Nordic)
Stockholm (HedgeNordic) – Long/short equity fund PriorNilsson Idea has been named the “Hedge Fund of the Year 2021” at the annual “Årets Fonder” awards organized by Swedish fund platform Fondmarknaden.se. The fund managed by Torgny Prior and Martin Lindqvist received the same recognition from Fondmarknaden.se back in 2019.
Contracted Collateral: Offtakes in Unlisted Infrastructure (Preqin)
Managers are adapting as government offtake structures become less generous. The flexibility of shorter contracts and merchant models will promote energy sector innovation. Offtake contracts reduce the risk of demand for the output of an asset investment, both in regard to volume and pricing. By securing the market before investment, managers can agree more favorable financial terms on the debt side.
An Army of Faceless Suits Is Taking Over the $4 Trillion Hedge Fund World (Bloomberg)
The most successful idea in hedge funds is now simply strength in numbers. Investors are plowing money into funds that don’t rely on the next macro genius or star stockpicker, but instead offer an army of traders who invest in an array of strategies. These behemoths secured pretty much all of the new money in the hedge fund industry last year, cementing a tectonic shift that’s accelerated since the pandemic.
Land & Buildings Says it is Willing to Offer $4.5 Billion for LXP (Reuters)
BOSTON (Reuters) – LXP Industrial Trust, a U.S. warehouse-focused real estate investment trust, said on Sunday it had received an expression of interest from hedge fund Land & Buildings Investment Management to acquire it for $4.5 billion. LXP plans to review Land & Buildings’ proposal with its advisers before deciding on next steps, it said in a statement disclosing a letter from the hedge fund.
Bill Ackman and Cathie Wood Lead the Charge Back into Tech Stocks as the Sell-Off Attracts Dip-Buyers (Business Insider)
Bill Ackman and Cathie Wood have snapped up shares in technology companies, as the sell-off attracts dip-buyers. Hedge fund legend Ackman said last week that he thinks Netflix is a bargain at its current price. Star stock-picker wood has doubled down on her bet on Tesla, buying more than $20 million of stock.
Baupost Just Had Its Best Year in Nearly a Decade (Institutional Investor)
Here’s where the eclectic fund headed by Seth Klarman found value. The Baupost Group posted its best results in eight years in 2021.According to a reliable source, the eclectic, value-driven hedge fund headed by Seth Klarman generated gains in the low double digits last year. This was the firm’s best performance since 2013, when it finished up around 15 percent.
Friday 1/28 Insider Buying Report: KMB, RMCF (Nasdaq.com)
On Thursday, Kimberly-Clark’s Director, Todd Maclin, made a $272,020 buy of KMB, purchasing 2,000 shares at a cost of $136.01 a piece. Kimberly-Clark is trading up about 0.5% on the day Friday. And on Wednesday, Director Jeffrey Richart Geygan bought $111,357 worth of Rocky Mountain Chocolate Factory, buying 13,972 shares at a cost of $7.97 each. Before this latest buy, Geygan purchased RMCF at 2 other times during the past twelve months, for a total investment of $147,997 at an average of $9.04 per share. Rocky Mountain Chocolate Factory is trading up about 1.8% on the day Friday. Bargain hunters have the opportunity to buy RMCF at a price even lower than Geygan did, with shares trading as low as $7.40 in trading on Friday — that’s 7.2% under Geygan’s purchase price.
Insider Trading: January 31, 2022 (BIV.com)
Insider Alberto Morales, 10% owner. Company: Andean Precious Metals Corp. (TSX-V:APM). Shares owned: 79,468,752. Trade date: Jan 13. Trade total: $9,960,000. Trade: Sale of 6,000,000 shares at a price of $1.66 per share. Insider Michael Luzich, director. Company: Amerigo Resources Ltd. (TSX:ARG). Shares owned: 14,902,500. Trade date: Jan 13, 14. Trade total: $621,344. Trade: Sale of 379,300 shares at prices from $1.61 to $1.64 per share.
Executives Buy Around $88M Of 4 Stocks (Benzinga)
Netflix: The Trade: Netflix, Inc. NFLX Co-CEO Reed Hastings acquired a total of 51,440 shares at an average price of $388.83. To acquire these shares, it cost around $20 million. Asana: The Trade: Asana, Inc. ASAN President, CEO and Chair Dustin Moskovitz acquired a total of 12,50,000 shares at an average price of $48.97. To acquire these shares, it cost $61.21 million. Beacon Roofing Supply: The Trade: Beacon Roofing Supply, Inc. BECN 10% owner Cdr Boulder Holdings Lp bought a total of 107,456 shares at an average price of $55.84. To acquire these shares, it cost $6 million. Verizon Communications: The Trade: Verizon Communications Inc. VZ Chairman and CEO Hans Erik Vestberg bought a total of 19,000 shares at an average price of $52.55. The insider spent around $1 million to buy those shares.
