Hedge Fund Billionaire Stanley Druckenmiller Buys in Los Angeles (The Dirt)
Stanley Druckenmiller, the multibillionaire New York hedge fund legend who owns exceptionally extravagant properties in Manhattan, Malibu and the Hamptons, has gone Hollywood. Well, in a sense. A Druckenmiller-linked entity has dropped about $5.5 million for a luxury home in Cheviot Hills, an upscale and family-friendly neighborhood south of Beverly Hills and Century City. The house is not for Druckenmiller’s personal use. Rather, the modern farmhouse-style structure is intended for Hannah Druckenmiller, the second of his three adult daughters, and her husband Benjamin King. The pair, both in their early 30s, met in California — King graduated from Stanford, while Druckenmiller attended Stanford for undergrad and holds a PhD from UC Berkeley.
Alex Soros, Just Named as Father George’s Successor, is a Longtime Donor to Liberal Jewish Causes (JTA.org)
When George Soros gave control of his vast charity to his son, Alexander, it was clear that the new 37-year-old chairman would follow in his father’s footsteps in many ways. Alex Soros is known to work well with George, the billionaire hedge funder, liberal philanthropist and Holocaust survivor who turns 93 next month. “We think alike,” George Soros said about his youngest son when naming him in June as his successor at the Open Society Foundations, which distributes roughly $1.5 billion per year to an array of causes.
4 Hot Insider Trades & Hedge Fund Hits: Children’s Place, Asana See Big Buys (Investing.com)
Bonderman’s Wildcat Capital opposes $2.9B Consolidated Communications deal: Wildcat Capital Management, overseeing buyout firm TPG co-founder David Bonderman’s wealth, has urged Consolidated Communications (NASDAQ:CNSL) to reject a buyout offer that values the company at $2.9 billion. In a letter written to Consolidated Communications’ board on July 12, reviewed by Reuters, Wildcat (which owns a 2.6% stake in Consolidated Communications) stated that the $4-per-share all-cash offer undervalues the broadband services provider by 3.5 times.
Image by Gerd Altmann from Pixabay
Why is Cathie Wood’s ARKK ETF Shrinking? (TipRanks)
Story Highlights: The assets under management of Cathie Wood’s flagship ETF ARK Innovation (ARKK) have declined compared to the peak level seen in early 2021. This article discusses the factors due to which the ARKK ETF has been shrinking. Hedge fund manager Cathie Wood’s flagship exchange-traded fund (ETF), ARK Innovation ETF (ARKK) is shrinking in size, with investors pulling out a net $717 million over the past 12 months, the Wall Street Journal reported citing FactSet data. Investors seem to be booking profits, given ARKK has jumped 56% year-to-date following a significant decline last year. Additionally, investors seem to be averse to several holdings in the ARKK ETF that are still unprofitable.
Fir Tree to Launch Distressed Crypto Assets Fund (Hedge Week)
New York-based hedge fund firm Fir Tree Partners is looking to capitalise on the turmoil seen in the digital assets market over the past year or so by launching a hedge fund that will make investments in distressed crypto assets, according to a report by CoinDesk. The report cites an email seen by CoinDesk as confirming that The Fir Tree Digital Asset Opportunities Fund will launch on 1 August.
Why Andrew Brown’s Latest Fund is Following Monaco’s Royals (AFR.com)
Yogi, soccer fan and veteran stockpicker Andrew Brown has just launched a fund that mainly invests in companies that are backed by some of the world’s richest families. Brown is no trust fund baby, though. He grew up in Britain’s Scunthorpe, before landing in Sydney in 1987 as a bank analyst at Baring Securities as part of a 39-year investment career. “I wasn’t the number one bank analyst at Baring back then, though,” Brown admits from his offices in Sydney’s Martin Place. “That was Craig Drummond, the erstwhile chief financial officer at National Australia Bank, chief executive at Medibank, and chair at Geelong football club.”
Macro Hedge Funds Lead Gains in Asia, Japan Shines (ChannelNewsAsia)
HONG KONG: Asia’s macro hedge funds, which trade on economic trends, have outperformed other strategies so far this year even as they manoeuvred wild moves in global bond markets, while Japan-focused funds also thrived on a domestic stocks rally. Asia-focused macro hedge funds, which typically trade a wide range of assets from a top-down economic viewpoint, were up 6.1 per cent on average by June, Eurekahedge data shows, compared to a 1.1 per cent gain for all Asian hedge funds.
Who are the Private Equity and Hedge Fund Players Buying Up Stakes in Sports Teams? Here are the Big Names to Know (Fortune)
As a sports fan myself (I’m a die-hard Manchester United fan, for those who watch Premier League football – or “soccer,” to us Americans), I’ve always kept an eye on who owns which team, or what firm or executive is acquiring what stake. Money, after all, can have the power to influence teams’ performance. In recent years, alternative asset managers – that group of investors which includes private equity, venture capital, and hedge funds – have been actively investing in the sports arena. But who is buying chunks of teams?
Monday 7/17 Insider Buying Report: CVGW, CDZI (Nasdaq.com)
At Calavo Growers, a filing with the SEC revealed that on Thursday, Chief Executive Officer Lecil E. Cole bought 75,000 shares of CVGW, for a cost of $30.34 each, for a total investment of $2.28M. So far Cole is in the green, up about 19.6% on their purchase based on today’s trading high of $36.29. Calavo Growers is trading up about 16.6% on the day Monday. Before this latest buy, Cole purchased CVGW at 2 other times during the past twelve months, for a total investment of $2.61M at an average of $26.12 per share. And at CADIZ, there was insider buying on Thursday, by Director Susan P. Kennedy who purchased 14,000 shares for a cost of $3.50 each, for a total investment of $49,000. Before this latest buy, Kennedy bought CDZI at 3 other times during the past twelve months, for a total investment of $255,280 at an average of $2.31 per share. CADIZ is trading up about 9.5% on the day Monday. Kennedy was up about 21.4% on the purchase at the high point of today’s trading session, with CDZI trading as high as $4.25 at last check today.
HP, Micron Technology And 2 Other Stocks Insiders Are Selling (Benzinga)
Micron Technology: The Trade: Micron Technology, Inc. (MU) CVP, Chief Accounting Officer Scott Allen sold a total of 13,687 shares at an average price of $60.80. The insider received around $832,170 from selling those shares. HP: The Trade: HP Inc. (HPQ) Director Subra Suresh sold a total of 6,659 shares at an average price of $33.00. The insider received around $219,747 from selling those shares.
