What Does Ray Dalio Give as a Gift? A Financial Lesson Worth Its Weight in Gold. (Barron’s)
Need an idea for a holiday gift? The founder of the world’s largest hedge fund has a simple suggestion. Ray Dalio, founder of Bridgewater Associates, gives each of his grandchildren a gold coin for every holiday and birthday. The yellow metal is the best way to get young people excited about saving, he says.
Third Point’s U.K. Fund Chairman Resigns After Receiving ‘Personal Threats’ (Bloomberg Quint)
(Bloomberg) — Dan Loeb’s Third Point said the chairman of its London-listed fund, Steve Bates, resigned after receiving “personal threats” from activist investors. Loeb, the billionaire hedge fund manager known for waging his own activist campaigns, said Bates’s departure is a “loss for all shareholders” of Third Point Investors Ltd. and that the “juvenile antics smack of desperation and inexperience,” according to a statement Thursday. The closed-end fund has been fighting with Asset Value Investors and Staude Capital, which had been agitating for policy changes to address the fund’s wide trading discount to its assets. The fund invests in Loeb’s $20 billion flagship hedge fund.
Chase Coleman Did a Deep Dive on 20 Years of Blowout Performance at Tiger Global and Shared His Strategies for Getting in Early on the Next Amazon (Business Insider)
While 2021 has been bumpy for Chase Coleman‘s Tiger Global Management, by some measures it was the top hedge fund of 2020. Riding a 48% return from its flagship fund, the firm returned $10.4 billion to its investors in 2020, the most among the 20 top-performing hedge funds tracked by LCH Investments, a fund-of-funds firm.
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Hedge Funds Kick Risk Addiction at End of Crazy Year for Stocks (Bloomberg Quint)
(Bloomberg) — Calm has finally come to a stock market that for weeks had been swinging violently. Bulls who hung tough are ending the year on firm footing after a frenzied off-loading of risk by professional speculators. December’s big sellers were hedge funds, which, chastened by wrong-way bets on high-flying software firms, spent the month slashing high-momentum trades. It helped make this one of the most volatile year-ends for big-cap tech in the past decade, with the absolute size of close-to-close moves in the Nasdaq 100 clocking in around 1.4%.
Panthers’ Matt Rhule Expected Back in 2022, But Owner David Tepper could Still Make Changes, Per Report (CBSSports.com)
Matt Rhule isn’t yet two full seasons into the seven-year, $62 million contract he landed with the Panthers in 2020. And those inside the organization believe the 46-year-old will return in 2022, according to Joe Person of The Athletic. But that doesn’t mean things can’t change in the final three weeks of the season, Person reports, with notably aggressive owner David Tepper frustrated over a fourth straight losing season and not publicly committed to Rhule beyond 2021.
The Exec. VC of Camden Property (NYSE: CPT) is Buying Shares (Analyst Ratings)
Yesterday, the Exec. VC of Camden Property (CPT), Keith Oden, bought shares of CPT for $311.2K. Following this transaction Keith Oden’s holding in the company was increased by 11.47% to a total of $44.77 million. Over the last month, Keith Oden has reported another 3 Buy trades on CPT for a total of $10.2M. Based on Camden Property’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $294 million and quarterly net profit of $29.48 million.
Thursday 12/23 Insider Buying Report: FNCH, COST (Nasdaq.com)
On Monday, Finch Therapeutics Group’s Director, Nicholas Haft, made a $649,993 purchase of FNCH, buying 63,850 shares at a cost of $10.18 each. Finch Therapeutics Group is trading up about 13.9% on the day Thursday. Before this latest buy, Haft made one other buy in the past twelve months, purchasing $15M shares at a cost of $17.00 each. And on Tuesday, Director Mary Agnes Wilderotter bought $499,620 worth of Costco Wholesale, buying 925 shares at a cost of $540.13 a piece. Costco Wholesale is trading off about 0.2% on the day Thursday. So far Wilderotter is in the green, up about 2.3% on their purchase based on today’s trading high of $552.31.
US Fights Bail for Russian Businessman Accused of Insider Trading Through Hacking (Channel News Asia)
BOSTON : A U.S. prosecutor on Wednesday argued a Russian businessman accused of insider trading using hacked corporate information could use his wealth and Kremlin connections to flee the United States if he was granted bail. Vladislav Klyushin, an owner of an information technology company with ties to the Russian government, had sought to be released from jail on a US$2.5 million bond and remain under house arrest in a Boston apartment following his extradition from Switzerland on Saturday.
The Chief Financial Officer of Summit Industrial Income REIT (Other OTC: SMMCF) is Selling Shares (Analyst Ratings)
Yesterday, the Chief Financial Officer of Summit Industrial Income REIT (SMMCF), Ross Drake, sold shares of SMMCF for $1.52M. Following Ross Drake’s last SMMCF Sell transaction on June 20, 2016, the stock climbed by 14.6%. This is Drake’s first Sell trade following 5 Buy transactions. Based on Summit Industrial Income REIT’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $52.64 million and quarterly net profit of $253 million.
Metlife Inc (MET) President & CEO Michel Khalaf Sold $2.6 million of Shares (Guru Focus)
President & CEO of Metlife Inc, Michel Khalaf, sold 42,748 shares of MET on 12/21/2021 at an average price of $60.74 a share. The total sale was $2.6 million.
