Sculptor Says Weinstein Raised Offer, Still Prefers Rithm Deal (Pensions&Investments)
Boaz Weinstein and his group of bidders sweetened their offer to buy Sculptor Capital Management, but the hedge fund firm said it still prefers its deal with Rithm Capital Corp. Mr. Weinstein’s group, which includes billionaires Bill Ackman, Marc Lasry and Jeff Yass, increased its offer by 51 cents a share to $12.76. Rithm agreed to acquire Sculptor for $11.15 a share, or $639 million.
Decoding Market Sentiments: Lumine Lin’s Artful Approach to Hedge Fund Management (Daily Scanner)
Highmoon Capital’s founder, Lumine Lin, is anything but a typical hedge fund manager. He has an educational background in art and is not afraid to use it for market analysis. He started his own business right out of college, a game design studio. He’s a self-taught trader who worked on developing the Skyline trading platform. While he operates in the world of digits and percentages, one of his main interests is where human emotion and technology meet. “While they may not have state-of-the-art AI tools for data analysis, many traders are actively involved in emotional management,” he explains. “We apply scientific methods to this practice, leveraging it to gain an advantage over other firms. In simpler terms, it’s about recognizing the impact of emotions on investments and using science to navigate them effectively.”
The Secret Article on Tiger Global? (FinShots.in)
The Story: Psst…did you hear about that secret exposé on Tiger Global? In case you haven’t, it’s an anonymous 9-page note that threatened to spill the beans on one of the biggest private equity-cum-hedge fund firms in the world. There were whispers that it was a draft of a story that the New Yorker was working on. And that Tiger Global was even trying to stop it from being made public.
Citadel’s Extreme Math Camp (Axios)
International business class flights, five-star hotels and $19,000 monthly salaries — not exactly what most students expect for a summer internship. Driving the news: Citadel happily supplies these luxuries as part of its version of math boot camp, however — the cost of doing business to secure the top talent to keep driving the hedge fund and market maker, Bloomberg reports. Zoom in: Students spend about 11 weeks role-playing as hedge fund traders who write code and design automated strategies based on simulations.
Thursday 8/31 Insider Buying Report: DOMO (Nasdaq.com)
At Domo, there was insider buying on Tuesday, by Director Daniel David Daniel III who bought 137,000 shares at a cost of $10.94 each, for a trade totaling $1.5M. Before this latest buy, Daniel III purchased DOMO at 3 other times during the past year, for a total cost of $1.72M at an average of $13.83 per share. Domo Inc is trading up about 6.1% on the day Thursday. Daniel III was up about 5.5% on the purchase at the high point of today’s trading session, with DOMO trading as high as $11.54 at last check today.
Coinbase Global, Bristol-Myers Squibb And 2 Other Stocks Insiders Are Selling (Benzinga)
Bristol-Myers Squibb: The Trade: Bristol-Myers Squibb Company (BMY) EVP, Chief Human Resources Ann Powell sold a total of 17,986 shares at an average price of $61.25. The insider received around $1.1 million from selling those shares. Coinbase Global: The Trade: Coinbase Global Inc. (COIN) Chief Accounting Officer Jennifer N Jones sold a total of 1,704 shares at an average price of $77.76. The insider received around 132,503 from selling those shares.
