Bridgewater CEO McCormick Stepping Down to Consider Senate Run (The Wall Street Journal)
Bridgewater Associates named two new co-chief executives to head the world’s largest hedge-fund firm on Monday, after CEO David McCormick told staff he would be stepping down to consider running for the U.S. Senate in Pennsylvania. Bridgewater elevated to co-CEO deputy chief executive Nir Bar Dea, age 40, along with former Aetna chief executive Mark Bertolini, 65, who has been a member of Bridgewater’s board for three years, according to a memo to Bridgewater employees that was released publicly.
D.E. Shaw’s Two Biggest Funds Post Double-Digit Gains for 2021 (Bloomberg)
D.E. Shaw & Co., the quantitative hedge fund giant, ended 2021 with double-digit gains for its two biggest funds. The flagship Composite Fund rose 18.5% on the year, according to a person with knowledge of the matter, placing it among the top performing multistrategy funds. The vehicle, which invests across asset classes and geographies, is D.E. Shaw’s largest, the person said, and has posted just one down year since its debut two decades ago.
Greenlight Killed It in December (Institutional Investor)
David Einhorn’s long-short fund still lagged the market for the year, even though eight of its nine largest U.S. longs posted huge gains. Greenlight Capital posted a very large gain in December. Even so, the value-driven hedge fund headed by David Einhorn once again greatly lagged the overall market for the full year. Greenlight surged 9.5 percent last month and 11.9 percent for all of 2021, according to a person who has seen the…
Photo by Marga Santoso on Unsplash
Panthers’ David Tepper, Billionaire with N.J. Roots, Regrets Stealing Matt Rhule from Giants, Report Says (NJ.com)
David Tepper has buyers’ remorse. The Carolina Panthers owner – who founded Appaloosa, a hedge fund with its headquarters in Short Hills, N.J. – hired Matt Rhule before the 2020 season. Since them, the newbie head coach doesn’t have much to brag about: a pair of 5-win seasons heading into the final week of the 2021 campaign. And that doesn’t sit well with Tepper, according to The Athletic.
Hedge Fund that Exploits Human-Machine Biases Annualises +11% (Opalesque)
Combining long/short equity investing with researching and trading human/machine behavioural biases has been a recipe for success for this New York-based hedge fund manager. Duo Reges Capital Management employs a quantamental* behavioural equity long/short strategy designed to have a low correlation to the markets. “We exploit human-machine behavioural biases in financial markets using a quant-based equity long/short strategy,” portfolio manager Uzi Hadar, CFA, explains to Opalesque. “Human-machine behavioural biases are the side effects of market innovations such as ESG, social investing/apps, and other rule-based investments. These biases cause persistent market inefficiencies. Our algorithms identify the signature of the biases and take long and short positions to exploit them.”
Chris Rokos and Partners Were Paid $1.2 Billion Before Hedge Fund Slid (Bloomberg)
Billionaire Chris Rokos and his partners paid themselves 914 million pounds ($1.2 billion) just before their investors suffered a record year of losses. Roughly 509.4 million pounds of that total went to Rokos himself for the year ending March 2021, the most since he started trading for his hedge fund firm, a filing with U.K.’s Companies House shows. A spokesman for Rokos Capital Management declined to comment.
Billionaires Using Bitcoin to Hedge Against Inflation (Coin Speaker)
When hedge fund manager Paul Tudor Jones bought Bitcoin in 2021, he labeled it as a way to hedge his funds against inflation. There are suggestions that the number of billionaires who invest in cryptocurrency increased in 2021 as more people seek to hedge against inflation. Many investors who were previously against Bitcoin and other cryptocurrencies as a store of value have now softened their stance.
Friday 12/31 Insider Buying Report: SVRA, THO (Nasdaq.com)
On Thursday, Savara’s Director, David A. Ramsay, made a $64,035 purchase of SVRA, buying 50,000 shares at a cost of $1.28 each. Savara is trading down about 2.3% on the day Friday. Before this latest buy, Ramsay bought SVRA on 8 other occasions during the past year, for a total cost of $1.64M at an average of $1.31 per share. And on Monday, Director Amelia Huntington purchased $50,445 worth of Thor Industries, purchasing 500 shares at a cost of $100.89 a piece. Thor Industries is trading down about 0.7% on the day Friday. So far Huntington is in the green, up about 3.5% on their purchase based on today’s trading high of $104.39.
Insider Buying: The BridgeBio Pharma, Inc. (NASDAQ:BBIO) Independent Director Just Bought US$299k Worth Of Shares (Nasdaq.com)
Potential BridgeBio Pharma, Inc. (NASDAQ:BBIO) shareholders may wish to note that the Independent Director, Ronald Daniels, recently bought US$299k worth of stock, paying US$13.49 for each share. However, it only increased shareholding by a small percentage, and it wasn’t a huge purchase by absolute value, either. BridgeBio Pharma Insider Transactions Over The Last Year: In the last twelve months, the biggest single purchase by an insider was when Independent Director Randal Scott bought US$1.0m worth of shares at a price of US$62.50 per share.
The Chief Financial Officer of FSD Pharma (NASDAQ: HUGE) is Buying Shares (Analyst Ratings)
Today, the Chief Financial Officer of FSD Pharma (HUGE), Donal Carroll, bought shares of HUGE for $9,652. Following this transaction Donal Carroll’s holding in the company was increased by 7% to a total of $117.5K. In addition to Donal Carroll, 2 other HUGE executives reported Buy trades in the last month. Currently, FSD Pharma has an average volume of 497.35K. The company has a one-year high of $4.44 and a one-year low of $1.05. HUGE’s market cap is $42.04 million and the company has a P/E ratio of -0.92.
