Crispin Odey’s Hedge Fund Responds to Sexual-Misconduct Allegations (The Wall Street Journal)
Prominent London hedge-fund firm Odey Asset Management told investors it doesn’t recognize “the picture of the firm that has been painted” by a Financial Times report that detailed alleged sexual misconduct by its founder, Crispin Odey. An FT article Thursday said 13 women have accused Odey of abusing or harassing them between 1998 and 2021. Odey didn’t respond to a request for comment Thursday. He told the FT that the allegations were “rubbish.” The letter, dated Thursday and signed by Peter Martin, Odey Asset Management’s chief executive, said it treats “now and in the past, all such allegations extremely seriously,” but stated it couldn’t comment in detail on the allegations.
Lee Ainslie’s Maverick Capital is Soaring This Year After Buying Nvidia. His Tiger Cub Peers Had a Pretty Good Month Too. (Business Insider)
Lee Ainslie‘s Maverick Capital is riding high so far in 2023. The Tiger Cub’s fund rose 5.60% in May and has gained 19.48% year to date, according to HSBC’s Hedge Weekly performance report. Regulatory filings for the firm’s portfolio show that Ainslee took a new position in Nvidia, the chipmaker which powers some artificial intelligence applications, over the first three months of the year. The stock, which soared in May, was its fifth-largest holding, making up 3.26% of his portfolio as of March 31.
MEV Capital Management Launches DeFi Digital Assets Hedge Fund (Hedge Week)
MEV Capital Management is launching a new digital assets hedge fund, MEV Capital Stablecoin High-Yield Fund SP, a Cayman Islands vehicle that “deploys and monitors trend-agnostic strategies based on digital assets, seeking to capture yields and timed opportunities”. The fund, which encompasses on-chain operations to the public ethereum blockchain, interacts with decentralised finance (DeFi) protocols as well as with digital asset derivative and hedging solution providers to achieve market neutrality. The fund has an open-ended structure and is registered with the Cayman Islands Monetary Authority (CIMA), and audited by a CIMA approved auditor.
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Billionaire Hedge Fund Icon Ray Dalio Predicts ‘Big Cycle Debt Crisis’ (The Street)
The U.S. government has a debt problem and it’s a big one. According to government figures, total U.S. gross debt landed at $31.4 trillion in 2022. $24.5 trillion of that, or approximately 78%, is deemed as public debt, meaning its cash borrowed from domestic and foreign investors. Now, a reckoning is coming as the federal government is about to issue a substantial amount of its debt on the open market – with a significant lack of interest from buyers.
Perfect Storm for Antiloop’s Strategies (Hedge Nordic)
Stockholm (HedgeNordic) – Since its launch in February 2022, multi-strategy hedge fund Antiloop Hedge successfully navigated turbulent waters with few surprises. The month of May, however, proved to be the fund’s most difficult month to date, resulting in a loss of 4.7 percent as all sub-strategies simultaneously experienced an unfavorable turn.
Taylor Swift, Warren Buffett, and Elon Musk: An Elite Investor isn’t Shy of Name-Dropping to Promote a Niche Type of Fund (Business Insider)
Discounted closed-end funds occupy a fairly obscure corner of the finance world. Boaz Weinstein, a hedge fund manager who specializes in this niche type of mutual fund, has been raising their profile by linking them to the likes of Taylor Swift and Warren Buffett. “Did you know that @taylorswift13 invests in discounted closed end funds?” the Saba Capital Management founder tweeted in mid-May. “You think I’m kidding, but her father Scott told me so!”
UK Hedge Fund Defends Itself from Sexual Assault Claims (The Business Times)
A BRITISH hedge fund defended itself on Friday (Jun 9) after the Financial Times published allegations of sexual assault by founder Crispin Odey, who denies the claims, according to the newspaper. Odey Asset Management (OAM) said in a statement that it has always treated “such allegations extremely seriously” and that it has robust procedures in place to ensure that the firm “complies with all of its legal and regulatory obligations”.
Their Crypto Company Collapsed. They Went to Bali (The New York Times)
The implosion of Three Arrows Capital, a cryptocurrency hedge fund, devastated the industry. Its two founders spent the next year surfing, meditating and traveling the world. Not long after his cryptocurrency hedge fund collapsed last year, spawning a market meltdown that devastated the industry, Kyle Davies got on a plane and left his troubles behind. He flew to Bali. As his company was liquidated and law enforcement authorities opened investigations on two continents, Mr. Davies spent his days painting in cafes and reading Hemingway on the beach.
Friday 6/9 Insider Buying Report: MODG, ACIW (Nasdaq.com)
At Topgolf Callaway Brands, a filing with the SEC revealed that on Thursday, Director Adebayo O. Ogunlesi purchased 100,000 shares of MODG, at a cost of $19.45 each, for a total investment of $1.94M. Ogunlesi was up about 3.4% on the buy at the high point of today’s trading session, with MODG trading as high as $20.11 at last check today. Topgolf Callaway Brands is trading up about 3.6% on the day Friday. And on Wednesday, CEO Thomas W. Warsop III purchased $1.02M worth of ACI Worldwide, purchasing 43,000 shares at a cost of $23.63 a piece. ACI Worldwide is trading up about 2.3% on the day Friday.
Over $72M Bet On This Biotechnology Stock? Check Out These 4 Penny Stocks Insiders Are Aggressively Buying (Benzinga)
Lexicon Pharmaceuticals: The Trade: Lexicon Pharmaceuticals, Inc. (LXRX) 10% owner Invus Advisors Llc acquired a total 27,775,050 shares an average price of $2.60. To acquire these shares, it cost around $72.22 million. ImmunityBio: The Trade: ImmunityBio, Inc. (IBRX) Director Michael Blaszyk acquired a total of 71,915 shares at an average price of $2.75. To acquire these shares, it cost around $198.02 thousand. The company’s other Directors also purchased the company’s shares.
