Ackman’s Pershing Square Holdings Fund Up 62.8% for the Year (Reuters)
BOSTON (Reuters) – Billionaire hedge fund manager William Ackman, who cautiously hedged his portfolio before the historic market sell-off in March, has extended his gains to 62.8% for the year so far. Last month, Ackman’s publicly traded Pershing Square Holdings portfolio gained 13.4%, lifting the $11.4 billion portfolio to a net gain of 62.8% in the first 11 months of 2020, according to a performance review.
Highbridge Capital Management Closes Convertible Dislocation Fund (PRNewswire)
NEW YORK, Dec. 2, 2020 /PRNewswire/ — Highbridge Capital Management, LLC (“Highbridge or the “Firm”), a wholly owned subsidiary of J.P. Morgan Asset Management, today announced the final closing of its Highbridge Convertible Dislocation Fund (the “Fund”), with total investable capital of more than $2 billion, including approximately $685 million in equity commitments. In response to convertible market dislocations that commenced in March, the Fund was formed to invest in relative value and event driven convertible instruments with a focus on North America and Western Europe. This mandate is consistent with Highbridge’s longstanding commitment to relative value alternative investment strategies. The Fund, which began investing in June 2020, is approximately 50% invested.
Warren Buffett’s Favorite Market Indicator Nears Record High, Signaling Stocks are Overvalued and a Crash May be Coming (Business Insider)
Warren Buffett’s favorite market gauge is flirting with a fresh high, signaling stocks are overvalued and could plunge in the coming months. The “Buffett indicator” divides the total market capitalization of a country’s publicly traded stocks by its quarterly gross domestic product. Investors use it as a rough measure of the stock market’s valuation compared to the size of the economy.
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Hedge Fund Veterans Team with Former BlackRock Exec to Launch Impact Investing Firm (Hedge Week)
Hedge fund veterans Chris James and Charles Penner are part of the founding team behind new impact investor Engine No 1, which will look to create long-term value by driving positive impact through active ownership and investment in public and private companies through multiple strategies. Founded by James, Engine No 1 has an executive team with decades of experience investing in, creating, building, and operating businesses. The firm was founded on the shared belief that a company’s ability to create long-term shareholder value depends on the investments it makes in jobs, workers, communities, and the environment.
Fund Manager Sentenced to 2 Yrs in Prison in Hedge Fund Scandal (The Korea Herald)
A Seoul court sentenced a fund manager to two years in prison Wednesday for fraudulently selling financial products of a hedge fund implicated in a massive fraud and lobbying scandal. The former chief of a branch office of Daishin Securities Co. in southern Seoul was indicted in June for misinforming his clients while selling some 248 billion won (US$225 million) worth of funds of Lime Asset Management Co.
ACI Worldwide Jumps After Starboard Value Urges Sale (The Street)
ACI Worldwide (ACIW) – shares rose Wednesday after activist investor Starboard Value urged the payments-software maker to pursue a sale. Shares of ACI recently traded at $37.17, up 11%. In 2020 through the close of trading Tuesday, the stock was down 12%. In a letter to ACI dated Wednesday, Starboard Managing Member Jeff Smith said the company’s revenue and margin targets are so tame that it “seems almost impossible for management to miss.”
Enphase Energy Inc (ENPH) EVP & Chief Commercial Officer David A Ranhoff Sold $14.2 million of Shares (Guru Focus)
EVP & Chief Commercial Officer of Enphase Energy Inc, David A Ranhoff, sold 100,000 shares of ENPH on 11/30/2020 at an average price of $142.33 a share. The total sale was $14.2 million. Enphase Energy Inc delivers energy management technology for the solar industry. The company designs, develops, manufactures and sells home energy solutions that connect solar generation, energy storage, and management on one intelligent platform.
Wednesday 12/2 Insider Buying Report: STFC, KRMD (Nasdaq.com)
On Monday, State Auto Financial’s Senior Vice President, Kim Burton Garland, made a $118,737 buy of STFC, purchasing 7,853 shares at a cost of $15.12 a piece. So far Garland is in the green, up about 6.2% on their buy based on today’s trading high of $16.05. State Auto Financial is trading up about 2.1% on the day Wednesday. Before this latest buy, Garland bought STFC at 7 other times during the past twelve months, for a total investment of $812,405 at an average of $19.74 per share. And on Tuesday, Director R. John Fletcher purchased $100,089 worth of Repro Med Systems, purchasing 22,327 shares at a cost of $4.48 a piece. This buy marks the first one filed by Fletcher in the past twelve months. Repro Med Systems, is trading up about 5.6% on the day Wednesday. Fletcher was up about 18.5% on the purchase at the high point of today’s trading session, with KRMD trading as high as $5.31 at last check today.
The Deputy Chairman & Senior Independent Director of Oxford BioMedica (Other OTC: OXBDF) is Selling Shares (Analyst Ratings)
Today, the Deputy Chairman & Senior Independent Director of Oxford BioMedica (OXBDF), Andrew John William Heath, sold shares of OXBDF for $385.4K. This is Heath’s first Sell trade following 16 Buy transactions. Following Andrew John William Heath’s last OXBDF Sell transaction on July 02, 2020, the stock climbed by 2.5%. The company has a one-year high of $11.85 and a one-year low of $4.51. The insider sentiment on Oxford BioMedica has been neutral according to 24 insider trades in the past three months. This sentiment is higher than the average sentiment of company insiders in this sector.
Prosecutors to Charge Ex-Don Quijote Head Over Insider Trading (MSN)
Prosecutors plan to press charges against a former president of Don Quijote Holdings Co., a Japanese discount retailer now known as Pan Pacific International Holdings Corp., for alleged involvement in insider trading, sources familiar with the matter said Wednesday. The prosecutors allege the 57-year-old illegally advised a male acquaintance to purchase Don Quijote shares prior to the announcement of a takeover bid for the company by FamilyMart Uny Holdings Co. in 2018 in violation of the Financial Instruments and Exchange Law, the sources said.
Moody’s Corporation (MCO) President and CEO Raymond W Mcdaniel Sold $11.9 million of Shares (Guru Focus)
President and CEO of Moody’s Corporation, Raymond W Mcdaniel, sold 42,662 shares of MCO on 11/30/2020 at an average price of $279.99 a share. The total sale was $11.9 million. Moody’s Corporation publishes credit ratings, and research reports on fixed-income securities, issuers of securities, and other credit obligations.
