Billionaire Investor Bill Ackman Implores Biden to ‘Set a Real Red Line’ and Consider Military Intervention in Ukraine (Business Insider)
Bill Ackman called for President Joe Biden to consider sending US troops to defend Ukraine in a post on Twitter Monday. “Is there a point at which we say it is un-American to sit back and watch this transpire?” the billionaire investor said in a series of tweets addressed to Biden. “Do we wait for him to kill millions before we intervene?” Ackman added.
New Rules Could See Hedge Funds Sued for ‘Doing a Good Job’ (Risk.Net)
New rules proposed by US regulators would remove hedge funds’ ability to protect themselves against negligence lawsuits, leaving them liable for mistakes as simple as fat-finger trades or losing money in a falling market. The Securities and Exchange Commission wants to strip hedge fund contracts of a routine clause that shields fund managers from claims that they behaved carelessly. If the SEC introduces the rule as it stands, hedge funds – the biggest risk-takers in financial markets – would.
Mubadala, Qatar Fund Holding On to Russian Assets for Now (Bloomberg)
Two influential Middle Eastern wealth funds are for now planning to hold on to Russian assets worth billions of dollars, seen as strategic and long-term investments, people familiar with the matter said. Abu Dhabi’s Mubadala Investment Co. and Qatar Investment Authority are taking a different approach to Norway’s $1.3 trillion sovereign wealth fund, which is starting a process to remove Russian assets from its portfolio.
Photo by Austin Distel on Unsplash
How Digitalization in Fund Administration is Improving Client Servicing and Security (Preqin)
As hedge fund managers evolve their trading strategies, reporting and data requirements are getting more complicated – this is where technology can make a big difference. With the resurgence of hedge funds in 2020 and 2021 and the high rate of activity in private capital, the complexity of asset servicing has increased. How have the Citco group of companies’ (Citco) technology efforts helped reduce those complexities?
Hedge Fund Loses Lawsuit in Lee Enterprises Takeover Fight (Hedge Week)
A hedge fund that is trying to buy newspaper publisher Lee Enterprises has lost a legal battle to prevent the company from using a system that would see two longtime directors reelected at its annual meeting next month. According to Associated Press, a Delaware judge has rejected a lawsuit filed by Alden Global Capital, which has a USD141 million offer to acquire the business rejected in December.
Berkshire Hathaway Rebounds From the Pandemic (The New York Times)
Warren E. Buffett is eager to make one point clear about Berkshire Hathaway, the conglomerate he controls: It is a good corporate American citizen. In announcing Berkshire’s nearly $90 billion profit for 2021 on Saturday, the billionaire stressed in his annual letter to shareholders the outsize role that the company — whose businesses run from the BNSF railroad to Geico insurance to See’s Candies — plays in the United States economy.
Different Data Bases Show Mixed Hedge Fund Asset Inflows for January (Opalesque)
While HFM report says that investors allocated just over $10bn to hedge funds in January, eVestment says they pulled -$4.18 billion from the global hedge fund business in the month under review. Marking a turnaround from the past two months investors allocated just over $10bn to hedge funds in January said HFM. The investor inflow was achieved despite the negative performance of hedge funds, as the HFM Global Composite returned -1.4% in January amid a tough month for global equities.
Hedge Fund Profits from Ashes of Foreclosure (Fox9.com)
MINNEAPOLIS (FOX 9) – For Shanika Henderson the dream of owning her own home is on hold, but she can’t help wondering if her landlord took that dream away from her and hundreds of other potential home-owners in North Minneapolis. “Some stories are heart-wrenching, what people have to endure just to have a home, it’s horrible,” Henderson said.
Insiders Buy More Than $24M Of 3 Stocks (Benzinga)
Qualtrics International: The Trade: Qualtrics International Inc. (XM) Director Egon Durban acquired a total of 249,927 shares at an average price of $28.31. To acquire these shares, it cost around $7.07 million. Appian: The Trade: Appian Corporation (APPN) 10% owner Colin Moran acquired a total of 126,231 shares at an average price of $52.38. To acquire these shares, it cost around $6.61 million. Warby Parker: The Trade: Warby Parker Inc. (WRBY) 10% owner Durable Capital Partners Lp bought a total of 404,673 shares at an average price of $27.41. To acquire these shares, it cost around $11.09 million.
Monday 2/28 Insider Buying Report: DDS, MHK (Nasdaq.com)
On Wednesday, Dillard’s Director, Warren A. Stephens, made a $4.61M purchase of DDS, buying 20,000 shares at a cost of $230.51 each. Stephens was up about 15.4% on the purchase at the high point of today’s trading session, with DDS trading as high as $265.94 at last check today. Dillard’s is trading down about 0.5% on the day Monday. This purchase marks the first one filed by Stephens in the past year. And on Thursday, PRESIDENT AND COO Chistopher Wellborn purchased $1.36M worth of Mohawk Industries, purchasing 10,000 shares at a cost of $135.76 each. Mohawk Industries is trading down about 1.5% on the day Monday. Wellborn was up about 4.9% on the purchase at the high point of today’s trading session, with MHK trading as high as $142.46 at last check today.
Insider Trading: February 28, 2022 (BIV.com)
Insider Eric S. Sprott, 10% owner. Company: First Majestic Silv Trade date: February 11. Trade total: $7,110,000. Trade: Sale of 500,000 shares at a price of $14.22 per share. Insider Dante Rodriguez Montes, officer. Company: Andean Precious Metals Corp. (TSX:APM). Shares owned: 1,596,017. Trade date: February 14. Trade total: $870,000. Trade: Sale of 500,000 shares at a price of $1.74 per share.
Hudson Bay Capital Management LP Sells 17,588 Shares of Cartesian Growth Co. (NASDAQ:GLBL) (ETF Daily News)
Hudson Bay Capital Management LP decreased its stake in shares of Cartesian Growth Co. (NASDAQ:GLBL) by 1.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 906,705 shares of the energy company’s stock after selling 17,588 shares during the period. Hudson Bay Capital Management LP’s holdings in Cartesian Growth were worth $8,949,000 as of its most recent SEC filing.
