Carbon Offsets Are Next Big Bet for $3.2 Billion Tribeca Fund (Bloomberg)
One hedge fund in Asia is betting big on the growing interest in carbon offsets to protect forests, as industries and policy makers start to make efforts to cut emissions. Tribeca Investment Partners, which manages $3.2 billion of assets, has bought around $100 million worth of carbon credits, according to portfolio manager and partner Ben Cleary.
7 Overvalued Stocks to Sell to Invest Like Michael Burry (Business Insider)
Immortalized in the film The Big Short, Dr. Michael J. Burry, the famed contrarian investor who currently runs Scion Asset Management, is known to ruffle more than a few feathers on Wall Street. What makes him distinct among other noisemakers is that Burry made a massive bet against the housing boom of the 2000s, instantly earning him respect. He’s now warning folks about a similar setup with certain overvalued stocks.
Goldman Sachs MD Resurfaces at Citadel After Summer Off (eFinancialCareers.com)
It’s September and if you timed your job move well in the Northern Hemisphere, now’s the time you’ll be turning up in your brand new job after a pleasant summer of gardening leave. One of those to have gamed the seasons is Michael Fargher, the former head of European swaps trading at Goldman Sachs. Fargher, who left Goldman in June 2021, has just joined hedge fund Citadel as a portfolio manager in the London office.
Photo by Austin Distel on Unsplash
“Dig deeper”: Why Syz Capital is Looking Beyond Hedge Funds and Private Equity in Hunt for Uncorrelated Returns (Hedge Week)
Investors must look beyond hedge funds and private equity in their quest for uncorrelated returns, according to Marc Syz, co-founder and managing partner at Syz Capital, who believes niche assets – such as litigation finance and life settlements – can offer investors improved portfolio diversification. Syz said the ongoing Covid-19 pandemic has “plunged us into a situation of ongoing uncertainty”, in turn fueling investor demand for uncorrelated assets to help stave off volatility.
Another Strong Quarter For Hedge Funds Is In The Books (Forbes)
Hedge funds had another strong quarter in the second quarter, according to the latest report from Citco. All strategies posted a weighted average return of 6%. Hedge fund performance and flows: Commodities hedge funds were the best performers, with a weighted average return of 8.33%. Global macro was the worst-performing strategy, although even it was up 1.34% for the second quarter.
Scattered Success (Hedge Nordic)
Stockholm (HedgeNordic) – Hedge fund asset flows returned to a positive trajectory in July after settling the month of June in the red. Hedge funds attracted net inflows of $1.8 billion last month, bringing year-to-date net inflows to $27.8 billion, according to eVestment’s Hedge Fund Asset Flows Report for July. “This year continue to feel like a decent one for the industry, but it’s absolutely not being felt by all, or even by the majority for that matter.”
These Are The Ten Top Stock Holdings Of Bill Miller (Entrepreneur)
Bill Miller is an American investor and hedge fund manager, and the founder of Miller Value Partners. Prior to Miller Value, he worked for the now-defunct investment management firm Legg Mason, which is known for beating the S&P 500 for 15 straight years. Before Legg Mason, he worked as treasurer of the JE Baker Company, which makes products for the steel and cement industries. He has also served as a military intelligence officer overseas, and received his CFA designation in 1986. Let’s take a look at the ten top stock holdings of Bill Miller.
Jana Partners Is Pushing Vonage to Sell or Break Up (Bloomberg)
(Bloomberg) — Activist investor Jana Partners has called on Vonage Holdings Inc. to hire advisers to explore strategic alternatives, including a possible sale of all or parts of the telecommunications services company, according to people familiar with the matter. Vonage rose as much as 11% on the news. The New York-based hedge fund, which owns about 4% of Vonage, has discussed its views with the company and fellow shareholders after a previous review of the company’s consumer business failed to result in a sale, the people said, asking not to be identified because the matter is private.
Wednesday 9/1 Insider Buying Report: NGL, PFX (Nasdaq.com)
At NGL Energy Partners, a filing with the SEC revealed that on Friday, Chief Executive Officer H. Michael Krimbill bought 200,000 shares of NGL, for a cost of $1.50 each, for a total investment of $299,950. So far Krimbill is in the green, up about 20.7% on their buy based on today’s trading high of $1.81. NGL Energy Partners is trading off about 0.6% on the day Wednesday. Before this latest buy, Krimbill bought NGL at 2 other times during the past year, for a total investment of $536,440 at an average of $1.53 per share. And at Phenixfin, there was insider buying on Tuesday, by Chairman & Chief Exec. Officer David A. Lorber who bought 2,500 shares for a cost of $41.70 each, for a trade totaling $104,243. Before this latest buy, Lorber bought PFX at 2 other times during the past twelve months, for a total cost of $483,006 at an average of $38.64 per share. Phenixfin is trading off about 0.4% on the day Wednesday.
What Did This CEO Just Do with Personal Shares of Seagen (NASDAQ: SGEN)? (Analyst Ratings)
Yesterday, the President & CEO of Seagen (SGEN), Clay Siegall, sold shares of SGEN for $10.15M. Following Clay Siegall’s last SGEN Sell transaction on August 25, 2020, the stock climbed by 12.7%. In addition to Clay Siegall, one other SGEN executive reported Sell trades in the last month. Based on Seagen’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $388 million and GAAP net loss of -$84,576,000. In comparison, last year the company earned revenue of $278 million and had a GAAP net loss of $21.19 million. The company has a one-year high of $213.94 and a one-year low of $133.20. Currently, Seagen has an average volume of 534.97K.
Sebi Penalises Compliance Officer of Essar Shipping in Insider Trading Case (Business Standard)
Markets regulator Sebi on Wednesday levied monetary fine on the compliance officer of Essar Shipping Ltd for failing to administer the code of conduct as prescribed under insider trading norms. Sebi has slapped a fine of Rs 1 lakh on Awaneesh Srivastava, the compliance officer.
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