Bill Ackman Is Betting on GOP Presidential Hopeful Ramaswamy (Bloomberg)
In Bill Ackman’s view, Vivek Ramaswamy is simply misunderstood. The hedge fund billionaire is convinced that the novice politician vying to be the Republican presidential candidate will rival Florida Governor Ron DeSantis and eventually challenge Donald Trump, but thinks he needs to clear up a couple of things first.
Elliott Management Paid UK Staff Average of £1.3m Each in 2022 (The Guardian)
The US hedge fund and notorious activist investor Elliott Management paid its 124 UK staff a combined £160m last year, after a 10% rise in annual profits. The pay pot is higher than the £137m shared by employees the previous year, and comes after its UK operation, Elliott Advisors UK, reported pre-tax profits up by a tenth to £10m. Turnover for the firm, which made headlines after throwing its hat into the ring to buy Manchester United earlier this year, rose 16% to £225m. Elliott, which is the world’s largest activist hedge fund and is led by the billionaire Republican party donor Paul Singer, is best known for its aggressive corporate and political battles, famously chasing the Argentinian government for debts for more than decade.
Hedge Fund BlueCrest Capital Moving to 22K SF at 450 Park Avenue (Commercial Observer)
BlueCrest Capital Management is relocating within Midtown East to 21,640 square feet at SL Green Realty’s 450 Park Avenue. The British-American hedge fund signed a 15-year lease to move to the 30th and 31st floors of the building at East 57th street and Park Avenue — where Aston Martin recently opened a ground-floor showroom — from Boston Properties‘ GM Building at 767 Fifth Avenue, according to SL Green.
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Warren Buffett Dumps 45% of This Auto Stock: Time to Panic? (The Motley Fool)
Warren Buffett cutting his position in this automaker might ring alarm bells for some, but it shouldn’t. Here’s why. Warren Buffett once quipped that it would be wise for investors to be fearful when others are greedy, and greedy when others are fearful. As the automotive industry is on the cusp of major evolution with autonomous driving vehicles, vehicles as a service, and the transition to electric vehicles, what does Buffett dumping 45% of Berkshire Hathaway‘s holdings of General Motors (GM -2.03%) mean?
Asset Advisor ‘Signs’ Third Analyst (Hedge Nordic)
Stockholm (HedgeNordic) – Asset Advisor, an active multi-asset manager based out of Aarhus in Denmark, has strengthened its team with a third financial and risk analyst, all working alongside the three-member portfolio management team. Asset Advisor, which runs the alternative fund Asset Opportunities by employing a dynamic and opportunistic multi-asset strategy with a risk-on, risk-off approach, has welcomed Mikkel Mølbak as a Financial and Risk Analyst.
Odey Vacates Mayfair Headquarters as Hedge Fund Disintegrates (Bloomberg)
Odey Asset Management has vacated its long-time London headquarters as the investment firm enters final stages of a forced revamp in the aftermath of sexual assault allegations against founder Crispin Odey. The firm has moved into a new space on North Row, a short walk from the 18 Upper Brook Street office in London’s Mayfair from where it ran its operations for years, according to a filing by the company Wednesday.
$4.8 Billion Hedge Fund Pantera Predicts Bitcoin at $148,000 by 2025 (Finbold.com)
Pantera Capital, a prominent US hedge fund with a focus on cryptocurrencies, unveiled its new “Blockchain Letter” report. In it, the crypto asset manager notably reaffirmed its optimistic outlook on Bitcoin’s (BTC) price for 2024 and beyond, while also delving into the anticipated effects of the upcoming Bitcoin halving scheduled for April next year.
WorldQuant CEO Tulchinsky: AI Must Work with Human Traders (Financial News)
AI has the potential to disrupt financial services, but humans remain “imperative” to guide the technology, according to WorldQuant founder Igor Tulchinsky. “Humans and machines need to continue to have a symbiotic relationship for AI to be the most impactful,” he told Financial News. “AI is a tool that can drive our progress, but humans must partner with the technology to improve and apply its results.”
Are Hedge Fund Pioneers Facing the End of a Golden Era? (Money Control)
The multi-manager model has generated years of exceptional returns, even after fees. But rising interest rates and an expensive battle for talent are taking their toll. Harriet Agnew in London and Ortenca Aliaj in New York As an undergraduate at Harvard University, Ken Griffin had a satellite dish installed on the roof of his dorm room so he could trade convertible bonds, laying the foundations for the launch of his Citadel hedge fund in 1990. But it wasn’t until the high-profile collapse of hedge fund Long Term Capital Management at the end of that decade that he realised Citadel’s potential, Griffin recalls in an interview.
Thursday 8/24 Insider Buying Report: FTRE, BDSX (Nasdaq.com)
On Wednesday, Fortrea Holdings’s Director, Peter M. Neupert, made a $278,256 purchase of FTRE, buying 11,000 shares at a cost of $25.30 a piece. Neupert was up about 6.5% on the buy at the high point of today’s trading session, with FTRE trading as high as $26.95 in trading on Thursday. Fortrea Holdings is trading up about 4.3% on the day Thursday. This purchase marks the first one filed by Neupert in the past twelve months. And also on Wednesday, Jack W. Schuler purchased $216,510 worth of Biodesix, purchasing 128,363 shares at a cost of $1.69 a piece. Before this latest buy, Schuler purchased BDSX at 7 other times during the past year, for a total investment of $10.27M at an average of $1.15 per share. Biodesix is trading up about 2% on the day Thursday. So far Schuler is in the green, up about 7.3% on their buy based on today’s trading high of $1.81.
Palo Alto Networks, State Street And 2 Other Stocks Insiders Are Selling (Benzinga)
Palo Alto Networks: The Trade: Palo Alto Networks, Inc. (PANW) Director Carl M Eschenbach sold a total of 7,482 shares at an average price of $237.00. The insider received around $1.77 million from selling those shares. State Street: The Trade: State Street Corporation (STT) Vice Chairman and CFO Eric Aboaf sold a total of 11,886 shares at an average price of $67.13. The insider received around $797,952 from selling those shares.
