Buffett’s Bet Paves Way for Japan as a Global Value Trade (Bloomberg)
Warren Buffett’s $6 billion wager on Japan’s trading companies may serve as a catalyst to bring back foreign investors to the country’s value-sector heavy stock market, according to some strategists. Berkshire Hathaway Inc.’s purchase of stakes in five major trading firms that dominate Japan’s energy and raw-materials industries — Itochu Corp., Marubeni Corp., Mitsubishi Corp., Mitsui & Co. and Sumitomo Corp. — shows the U.S. conglomerate is likely looking beyond the pandemic and betting on global growth, said Amir Anvarzadeh, a senior strategist at Asymmetric Advisors in Singapore.
Billionaire Bill Ackman Says Mandatory Investing Accounts for Every US Child Could Combat Wealth Inequality (Business Insider)
Hedge fund manager Bill Ackman views wealth inequality in the US as a “black-swan-type” risk for investors, and sees two potential solutions for aiding lower- and middle-income Americans. In a letter to Pershing Square Capital investors, the billionaire defended capitalism as “the best system for maximizing the size of the economic pie.” Yet long-stagnant wage growth for the majority of Americans presents “one of the principal problems” with the US economy, he added. If the disparity worsens, a growing share of Americans will push for radical changes to the system or look to overhaul it completely.
Hedge Fund Manager Steven Cohen in Exclusive Talks to Buy New York Mets (CNBC)
Steven Cohen, the billionaire hedge fund manager, has entered exclusive negotiations to buy the New York Mets, according to numerous sources close to the sale process. Cohen, who had been very close to a deal to acquire the Major League Baseball team for a price of roughly $2.6 billion late in 2019, has fended off challenging bids from a group of investors led by Alex Rodriguez and Jennifer Lopez, as well as a bid from a group led by private equity titans Josh Harris and David Blitzer.
Copyright: welcomia / 123RF Stock Photo
Bridgewater and Tekmerion, the Startup Accused of Stealing Its Secrets, End Legal Wrangling (Institutional Investor)
The case between Bridgewater Associates and two of the founders of Tekmerion Capital Management, a small investment firm, has been resolved. On Friday the two filed a “stipulation of discontinuance” with the New York State Supreme Court, seeking to permanently dismiss the case. This will likely end a years-long arbitration process between Bridgewater and Tekmerion’s founders, Lawrence Minicone and Zachary Squire, two former Bridgewater employees. The parties were at odds over Bridgewater’s concerns that Minicone and Squire had breached the confidentiality agreements laid out in their original employment contracts.
Azimut Alternative Capital Touts Global Reach, Permanent Capital in Hunt for Firm Stakes (The Wall Street Journal)
Azimut Alternative Capital Partners is on the hunt for stakes in midsize private-markets investment firms, betting that the power of permanent capital and access to global markets will help it win deals. “GPs are interested in more than just getting a check,” said Jeffry Brown, chief executive of Azimut Alternative Capital Partners, or AACP. “They look for people that have experience running a firm successfully.”
Qblue Strikes a Better Balance (Hedge Nordic)
Stockholm (HedgeNordic) – Qblue Balanced is striking a better balance between its highly-experienced investment team and blossoming investor relations team by strengthening its client focus with a new hire. The Copenhagen-based asset manager has hired Amanda Ladeira Pereira as Sales and Relationship Manager for the Nordics and EMEA region. In July of last year, Qblue Balanced launched a market-neutral alternative risk premia fund called Qblue Luxembourg. “Qblue Balanced is very pleased to welcome Amanda Ladeira Pereira to the team as our new Sales and Relationship Manager, Nordics & EMEA,” writes Qblue Balanced in a press release.
Otus Capital Management Finds New Opportunity in European Small and Mid-Caps (Opalesque.com)
European stocks have underperformed this year compared to the US, but some managers are looking for and finding new opportunities. London-based Otus Capital Management’s Maga Smaller Companies Fund is up 9.66% year to date through May, according to performance information for investors reviewed by Opalesque. The strategy outperformed through March and April’s volatility and into the second quarter. The long/short strategy invests in European small and mid-cap stocks and builds on the work of Andrew Gibbs approach to trading the small end of the market. Gibbs was previously at M&G Investment Management, where he ran the M&G European Smaller Companies Fund. Prior to joining M&G, he held roles at Odey Asset Management and Lazard Brothers Asset Management.
Monday 8/31 Insider Buying Report: VG, GCI (Nasdaq.com)
On Wednesday, Vonage Holdings’ Chief Executive Officer, Rory P. Read, made a $201,752 purchase of VG, buying 17,870 shares at a cost of $11.29 a piece. Read was up about 1.6% on the buy at the high point of today’s trading session, with VG trading as high as $11.47 in trading on Monday. Vonage Holdings is trading up about 0.7% on the day Monday. Before this latest buy, Read bought VG at 2 other times during the past year, for a total cost of $402,027 at an average of $11.55 per share. And at Gannett, there was insider buying on Wednesday, by Director Laurence Tarica who purchased 74,559 shares for a cost of $1.64 each, for a total investment of $122,277. Gannett is trading off about 1.9% on the day Monday. Tarica was up about 17.1% on the purchase at the high point of today’s trading session, with GCI trading as high as $1.92 in trading on Monday.
The Shareholder of Green Thumb Industries (Other OTC: GTBIF) is Selling Shares (Analyst Ratings)
Today, the Shareholder of Green Thumb Industries Inc (OTCMKTS: GTBIF), Pete Albert Kadens, sold shares of GTBIF for $1.18M. Based on Green Thumb Industries’ latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $103 million and GAAP net loss of -$4,206,264. In comparison, last year the company earned revenue of $44.73 million and had a GAAP net loss of $20.89 million. The company has a one-year high of $16.29 and a one-year low of $3.69. Currently, Green Thumb Industries has an average volume of 444.59K.
Insider Trading: August 31, 2020 (BIV.com)
Insider John William Barr, 10% owner, director, officer. Company: Norseman Capital Ltd. (TSX-V:NOC). Shares owned: 510,000. Trade date: Aug 24. Trade total: $295,500. Trade: Sale of 295,500 shares at a price of $0.20 per share. Insider Hernan Martinez, officer. Company: Gold X Mining Corp. (TSX-V:GLDX). Shares owned: 395,800. Trade date: Aug 21, 24. Trade total: $216,276. Trade: Sale of 53,800 shares at a price of $4.02 per share.
Paypal Holdings (NASDAQ: PYPL) Executives are Making Moves with Their Shares (Analyst Ratings)
Yesterday, a Director at Paypal Holdings (PYPL), David Moffett, sold shares of PYPL for $1.04M. Following David Moffett’s last PYPL Sell transaction on February 23, 2018, the stock climbed by 124.8%. Based on Paypal Holdings’ latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $4.62 billion and quarterly net profit of $84 million. In comparison, last year the company earned revenue of $4.31 billion and had a net profit of $823 million. The company has a one-year high of $207.00 and a one-year low of $82.07. The Company has a Price to Book ratio of 32.85.
