Billionaire’s Hedge Fund Offers Hefty Pay to Combat Talent Squeeze (Bloomberg)
After the best year for hedge funds in a decade, promising traders can seek a place at the many major firms on a hiring spree or strike out on their own to seize on investor appetite. But a push by Schonfeld Strategic Advisors is a prominent example of a lucrative third option. The firm is dangling a hefty cut of profits as part of a foray into macro trading, taking a page out of the books of industry giants Citadel and Millennium Management.
Addepar Valued at $2.17 Billion as Investors Bet on Wealth-Management Tech (The Wall Street Journal)
Wealth-management software provider Addepar Inc. more than doubled its valuation to $2.17 billion from seven months ago in its latest funding round, the company said Tuesday. Addepar said it had raised $150 million from New York hedge-fund firm D1 Capital Partners. It was previously valued at nearly $1 billion after its last funding round in November, according to a person familiar with the deal. Earlier investors in Addepar, founded in 2009 by Palantir Technologies Inc. co-founder and serial entrepreneur Joe Lonsdale, include venture firms Valor Equity Partners and WestCap Group.
American Hedge Fund Manager Tudor Jones Says He Likes Bitcoin as a Portfolio Diversifier. (Coin Nounce)
The founder of Tudor Investment Corporation, Tudor Jones, said that he would like to allocate around 5% of his investment portfolio to Bitcoin. In a recent interview with CNBC, the American hedge fund manager said that the world’s largest cryptocurrency is an interesting investment tool. Paul Tudor Jones is the latest American hedge fund manager to support Bitcoin as a portfolio diversifier.
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Hedge Fund Giants Druckenmiller, Loeb Back $70M Funding for Crypto Asset Manager Bitwise (Coin Desk)
Bitwise Asset Management – a crypto investment firm with $1.2 billion in assets under management that is trying make inroads in the country’s $20 trillion financial advisory industry – has raised $70 million at a $500 million valuation, CoinDesk has learned. The Series B round of funding was led by tech investor Elad Gil and crypto venture fund Electric Capital. Meanwhile, a who’s-who from the financial world also participated, including Daniel Loeb’s Third Point LLC, hedge funder Stanley Druckenmiller, financier Henry Kravis, Bridgewater Associates CEO David McCormick and Nadeem Meghji, a senior managing director at Blackstone.
Dan Kamensky Couldn’t Go To The Office So Instead He’s Going To Jail (Deal Breaker)
Like a lot of hedge fund managers, Dan Kamensky is a bit, uh, let’s say high-strung. Struggling emotionally and physically after leaving Paulson & Co. to set up his own shop, Kamensky sought help from a psychologist, a sleep specialist and executive coach. He began to meditate in the middle of the day. And it worked! He began to feel healthier and more relaxed, he says. He enjoyed family time again, playing games like Scrabble and doing crossword puzzles.
Hedge Funds Score Seventh Consecutive Month in the Black with 1.08 per cent Returns in May (Hedge Week)
The hedge fund industry notched its seventh consecutive month in the black, posting a 1.08 per cent return for the month of May, according to the Barclay Hedge Fund Index compiled by BarclayHedge, a division of Backstop Solutions. In aggregate hedge funds outpaced the S&P 500 Total Return Index by 38 basis points on the month. This stretch of positive results by hedge funds brings their year-to-date performance to 8.06 per cent, modestly narrowing the gap to the S&P 500 Total Return Index which has enjoyed a 12.62 per cent return over the same period.
Loeb’s Vivendi Investment Primes Battle of the Billionaires (Bloomberg)
If the French billionaire Vincent Bollore had a shortlist of opponents to avoid, the activist investor Dan Loeb would feature prominently. The Bloomberg News report on Monday that Loeb’s fund Third Point has built a “substantial” stake in Vivendi SA raises the prospect of a meaty activist fight for control of the media conglomerate that Bollore has run since becoming the biggest shareholder seven years ago. To avoid such a battle, he may need to make more concessions to existing shareholders.
According to Portfolio Insider, Here’s Why Billionaire Chase Coleman is Bullish on Tech Stocks Despite Recent Weaknesses (Market Watch)
Jun 15, 2021 (AB Digital via COMTEX) — New York, US – One of the most successful tech hedge fund managers Chase Coleman, 45, has one of the most successful investing track records since he received $25 million in seed capital from Tiger Management founder Julian Robertson. His firm Tiger Global Management posted a whopping 21% average return in the last 20 years and earned more than $10 billion in fiscal 2020 alone.
Tuesday 6/15 Insider Buying Report: OPEN, NWFL (Nasdaq.com)
At Opendoor Technologies, a filing with the SEC revealed that on Monday, Director Pueo Keffer purchased 56,818 shares of OPEN, at a cost of $17.37 each, for a total investment of $986,735. Opendoor Technologies is trading down about 0.2% on the day Tuesday. Before this latest buy, Keffer bought OPEN at 2 other times during the past year, for a total cost of $2.00M at an average of $15.28 per share. And on Friday, Director Alexandra K. Nolan purchased $255,900 worth of Norwood Financial, purchasing 10,000 shares at a cost of $25.59 a piece. Before this latest buy, Nolan bought NWFL on 2 other occasions during the past year, for a total cost of $134,068 at an average of $26.77 per share. Norwood Financial is trading up about 0.4% on the day Tuesday.
Amazon Employee’s Husband Sentenced, Insider Trading Earned $1.4M (Manufacturing.net)
On one day, the family netted approximately $600K. Viky Bohra, the husband of a former Amazon employee, was sentenced to 26 months in prison after pleading guilty in November to insider trading. Bohra made a profit of $1.4 million using confidential financial information he received from his wife, Laksha, to place illegal trades on Amazon stock. Laksha worked as senior manager in Amazon’s tax department. The U.S. Securities Exchange Commission brought civil charges against Bohra, his wife and his father last September.
A Director at Cross Country Healthcare (NASDAQ: CCRN) is Selling Shares (Analyst Ratings)
Yesterday, a Director at Cross Country Healthcare (CCRN), Joseph Trunfio, sold shares of CCRN for $1.02M. Following Joseph Trunfio’s last CCRN Sell transaction on May 21, 2020, the stock climbed by 10.6%. This is Trunfio’s first Sell trade following 4 Buy transactions. Based on Cross Country Healthcare’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $329 million and quarterly net profit of $19.45 million.
Snowflake Inc (SNOW) CFO Michael Scarpelli Sold $6.7 million of Shares (Guru Focus)
CFO of Snowflake Inc, Michael Scarpelli, sold 26,821 shares of SNOW on 06/09/2021 at an average price of $251.22 a share. The total sale was $6.7 million.
