Billionaire Investor Carl Icahn Warns a Market Crisis is Brewing, Says Bitcoin may be an Inflation Hedge, and Reflects on His Apple and Netflix Bets in a New Interview. Here are the 7 Best Quotes. (Business Insider)
Carl Icahn trumpeted activist investing, sounded the alarm on federal spending, and explained why he doesn’t own bitcoin in a CNBC interview this week. The billionaire boss of Icahn Enterprises also advised against making market predictions, warned of a looming inflationary crisis, and reacted to Insider’s recent report that he left more than $40 billion on the table by selling Apple and Netflix stock.
Macro Hedge Fund Massar Capital Launches New Global Discretionary Strategy (Hedge Week)
Massar Capital Management has launched a new discretionary macro hedge fund strategy which aims to capitalise on directional trading opportunities across a broad set of global markets. The Massar Macro Directional is the New York-based firm’s second strategy and began trading on trading on 1 October with UDSD300 million in assets under management. Additional investor interest is expected is bring assets close to the strategy’s soft close target of USD600 million.
Fund Managers Sour on Global Growth Expectations, BofA Says (Bloomberg)
Fund managers may be quickly souring on global growth and earnings expectations, but their positioning remains pro-risk as they slash bond holdings to a record low and buy U.S. equities. This is a key takeaway from the latest Bank of America Corp. monthly fund manager survey, conducted in the week through Oct. 14. While the outlook for global growth turned negative for the first time since April 2020 and the overall survey was the least bullish in a year, the allocation to bonds fell to the lowest level ever as inflation woes drove expectations for higher rates, according to BofA strategists.
Photo by Austin Distel on Unsplash
Top 500 Global Money Managers See Assets Grew 14.5% to Hit Record $119.5tn (Opalesque)
The 500 largest global money managers in 2020 grew their combined assets under management 14.5% to $119.5 trillion, while boosting revenue, said the study. According to new research from Willis Towers Watson’s Thinking Ahead Institute, the growing concentration among the top 20 managers whose market share increased during the period to 44% of total assets. The research revealed that of the top 500 managers, 221 names that featured on the list a decade ago in 2011 are now absent in 2021, demonstrating a quickening pace of competition, consolidation, and rebranding.
Hedge Fund Trader to Be Sent to Germany From U.K. in Cum-Ex Case (Bloomberg Law)
A hedge fund trader will become the first person extradited to Germany from the U.K. as part of the country’s sprawling Cum-Ex tax fraud probe as soon as Wednesday. Vijaya Sankar, 45, who worked at hedge fund Duet Group, lost his fight to stay in the U.K. earlier this year after he was arrested in connection to three tax frauds. He will be sent to Germany as early as Wednesday, according to a London court filing. Sankar has not been charged with a crime, and has been on bail since his arrest. Germany is investigating more than a thousand …
Veteran Hedge Fund Manager Abraham Trading Converts Flagship Fund to Mutual Fund (TylerPaper.com)
CANADIAN, Texas, Oct. 19, 2021 /PRNewswire/ — Abraham Trading Company (“ATC”), an alternative investment manager with a 33-year investment track record, announced the launch of its first mutual fund today. The firm converted its private hedge fund, the Abraham Fortress Fund LP, into an SEC-registered mutual fund as of Thursday, October 14. “Every investor deserves institutional-quality investments,” remarks Salem Abraham, ATC president. “As a company with over three decades in the investment space, the mutual fund conversion allows us to share our 33 years of experience with both retail and institutional investors alike.”
How Viking Global Became the Hedge-Fund Industry’s Hottest Launch Pad (Business Insider)
Since Dan Sundheim‘s massively successful launch of D1 Capital in 2018, there have been six more spinoffs from Viking Global that have collectively raised billions — and at least one more is in the works. Among them: Grant Wonders, 31, who launched Voyager Global this year, raising over $1 billion.
Hedge Fund Reaps 66% Gain in Brazil on Oil Rally, Iron Collapse (Bloomberg)
A little known Rio de Janeiro-based hedge fund has emerged as a big winner from the crude oil rally and the brutal plunge in iron-ore prices. The Vista Macro Master fund, with 2.3 billion reais under management ($417 million) is up about 66% in local currency year to date, the best performer among 200 local hedge funds tracked by Bloomberg. The average gain has been of just 6%, while the benchmark CDI posted a 3% increase. Globally, the Bloomberg All Hedge Index is up 9% in the same comparison.
Activist hedge fund TCI spells out strategic overhaul of Canadian National Railway (Hedge Week)
Sir Christopher Hohn’s TCI Fund Management has set out a strategic plan to overhaul Canadian National Railway which it says would put the Montreal-headquartered freight railway company “back on track.” The London-based activist hedge fund this week outlined sweeping proposals for a “high-quality, experienced board, a world-class railroader as CEO and a long-term plan for sustainable growth.” The plan also includes several board changes and a new CEO, four immediate key priorities, and a six-point plan for sustainable long-term growth.
Tuesday 10/19 Insider Buying Report: ORCL (Nasdaq.com)
At Oracle, a filing with the SEC revealed that on Thursday, Director Rona Alison Fairhead bought 2,277 shares of ORCL, at a cost of $96.02 each, for a total investment of $218,640. So far Fairhead is in the green, up about 1.2% on their purchase based on today’s trading high of $97.22. Oracle is trading up about 0.2% on the day Tuesday. Before this latest buy, Fairhead bought ORCL at 2 other times during the past twelve months, for a total investment of $798,430 at an average of $69.26 per share.
Notable Cognition Therapeutics Insider Trades $2.3M In Company Stock (Benzinga)
By: Aaron Fletcher, Director at Cognition Therapeutics (NASDAQ:CGTX), made a large buy and sell of company shares on October 13, according to a new SEC filing. What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission states that By: Aaron Fletcher exercised options to purchase 3,912,932 Cognition Therapeutics shares at prices ranging from ($0.00) to $12.00 per share for a total of $2,281,072 on October 13. They then sold their shares on the same day in the open market. They sold at a price of $12.00 to raise a total of $1,083 from the stock sale.
Gitlab Inc (GTLB) CEO Sytse Sijbrandij Sold $192.5 million of Shares (Guru Focus)
CEO of Gitlab Inc, Sytse Sijbrandij, sold 2,500,000 shares of GTLB on 10/18/2021 at an average price of $77 a share. The total sale was $192.5 million.
The Non-Executive of Largo Resources (NASDAQ: LGO) is Buying Shares (Analyst Ratings)
Today, the Non-Executive of Largo Resources (LGO), Ian Edward Robertson, bought shares of LGO for $508.9K. This is Robertson’s first transaction since reporting a Sell transaction on AQN back in June 2020. Based on Largo Resources’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $54.29 million and quarterly net profit of $8.45 million.
