Pine River appoints Repo Trader (Hedge Week)
Pine River Capital Management (Pine River), a global relative value alternative asset manager, has appointed Abby Mongeon as a Repo Trader. She will focus on fixed income funding, working with Portfolio Managers across the firm’s fixed income relative value strategies. Mongeon, who will be based in Pine River’s New York office, has extensive experience in funding markets and related security markets. Prior to joining Pine River, she interned as a Summer Analyst in Government Securities Services at the Bank of New York Mellon.
Crispin Odey: the Fall of a Hedge Fund Maverick | FT Film (The Global Herald)
The Crispin Odey story is about greed, a culture of secrecy and alleged abuse. Odey was one of Britain’s richest men and most successful hedge fund managers while allegedly getting away with assaulting and harassing women for decades. Odey Asset Management has started to unravel ever since an FT investigation into his behaviour.
Portrait Analytics Raises $7 Million in Funding to Transform Investment Research (GlobeNewsWire)
Hedge fund veteran from Baupost and AI leaders from Amazon, Bloomberg and Twitter bet on Portrait’s AI platform to change the way analysts research markets and companies. Portrait Analytics, developer of a generative AI platform for investment research and thesis creation, has added $7 million in new funding. The financing was led by Unusual Ventures, with participation from existing investor .406 Ventures and select hedge fund professionals. The investment brings Portrait’s total capital raised to $10 million.
Pixabay/Public Domain
San Diego Union-Tribune Buyouts: New Owners ‘Vulture Fund’ or ‘Transforming Media’? (NBCSandiego.com)
Many long-time employees of the San Diego Union-Tribune have opted to leave the paper, which was sold last week to a hedge fund, NBC 7 has learned. The new owners of the U-T, Alden Global Capital — which has been variously called a “vulture hedge fund” and “the grim reaper of American newspapers” in coverage of it and its subsidiaries — wasted no time in its first week moving to shed staff via buyout offers, and some of the publications’ most seasoned journalistic voices have exercised that option.
Stocks and Bonds Are Sending Contrasting Signals (Hedge Nordic)
Stockholm (HedgeNordic) – Stock and bond markets are intricately interconnected and usually reflect similar information about economic health and investor sentiment. However, stocks and bonds have lately been transmitting contrasting messages, as noted by Norwegian fund manager Lars Semb Maalen-Johansen. “The bond market prices in a longer period of high interest rates and high inflation, while the stock market prices in rapidly falling inflation and interest rates,” Lars Semb Maalen-Johansen tells Norwegian newspaper Finansavisen. “One of these markets must be wrong,” says the portfolio manager of Global Assets Dynamic, a quantitatively-managed equity fund that mitigates portfolio downside risk using VIX-based products.
Kraken Names Mark Jennings as New CEO of Its London Firm (Financial News)
Kraken’s London-based subsidiary Crypto Facilities has appointed former hedge fund manager Mark Jennings as its chief executive officer. Jennings, who previously worked as a chief operating officer of US-based quant hedge fund True Arrow Capital Management from January 2016 to October 2020, told Financial News he plans to boost the firm’s relationship with City hedge funds.
From Botany to Bridgewater: Behind the Numbers with Unlimited Funds’ Bob Elliott (MarketScale)
For a better perspective on the U.S. economy, looking behind the numbers for a proper understanding of where things stand is helpful. As Americans grapple with the shifting dynamics of its economy, a new narrative has emerged, challenging the collective understanding of where the economic heartbeat of our nation truly resides. People have grown accustomed to Silicon Valley and Wall Street as the standard bearers of growth and prosperity. Yet, more than two-thirds of large urban counties experienced population decline in 2021, seeking suburban and small metro counties. This shift signals the need for recalibration in our economic mindset, prompting a pivotal question.
Inside the Private Writings of Caroline Ellison, Star Witness in the FTX Case (The New York Times)
Three months before the cryptocurrency market imploded last year, Caroline Ellison, the 27-year-old chief executive of the crypto hedge fund Alameda Research, was racked with self-doubt. “I have been feeling pretty unhappy and overwhelmed with my job,” Ms. Ellison wrote in a Google document in February 2022. She added: “At the end of the day I can’t wait to go home and turn off my phone and have a drink and get away from it all.”
Wednesday 7/19 Insider Buying Report: FAST, GABC (Nasdaq.com)
On Monday, Fastenal’s , Michael J. Ancius, made a $28,765 buy of FAST, purchasing 500 shares at a cost of $57.53 each. Investors can buy FAST at a price even lower than Ancius did, with shares trading as low as $56.55 in trading on Wednesday which is 1.7% below Ancius’s purchase price. Fastenal is trading up about 0.9% on the day Wednesday. Before this latest buy, Ancius made one other purchase in the past year, buying $24,310 shares for a cost of $48.62 a piece. And at German American Bancorp, there was insider buying on Saturday, by Susan J. Ellspermann who bought 723 shares at a cost of $27.67 each, for a trade totaling $20,000. Before this latest buy, Ellspermann purchased GABC at 7 other times during the past year, for a total investment of $15,276 at an average of $37.34 per share. German American Bancorp Inc is trading up about 2.6% on the day Wednesday. So far Ellspermann is in the green, up about 4.7% on their purchase based on today’s trading high of $28.98.
$2M Bet On Molecular Templates? Check Out These 4 Penny Stocks Insiders Are Aggressively Buying (Benzinga)
Theseus Pharmaceuticals: The Trade: Theseus Pharmaceuticals, Inc. (THRX) 10% owner James Tananbaum acquired a total of 700,000 shares an average price of $2.97. To acquire these shares, it cost around $2.08 million. The company’s other Directors also purchased the company’s shares. Molecular Templates: The Trade: Molecular Templates, Inc. (MTEM) 10% owner BB Biotech AG acquired a total of 4,255,319 shares at an average price of $0.47. The insider spent around $2 million.
