Ray Dalio Built the World’s Largest Hedge Fund. He Swears by These 5 Meeting Rules (Inc.com)
In Ray Dalio‘s book, Principles: Life and Work, the billionaire investor and founder of the largest hedge fund in the world, Bridgewater Associates, breaks down nearly everything he’s learned over the course of his career into a set of principles. Among these principles are a set of meeting rules that contain some tried-and-true methods for improving meetings in the workplace. The only problem is the book was released in 2018, and a lot has changed in the past four years. That’s why I’ve decided to revisit some of Dalio’s meeting principles and update them for the post-pandemic world, with new tools and best practices.
Activist Investor Dan Loeb Backs Off Pushing Disney to Sell ESPN (The Wall Street Journal)
Activist investor Dan Loeb signaled Sunday morning on Twitter that he is backing off his push to persuade Walt Disney to spin off its popular sports television network ESPN. The change of heart comes after Disney Chief Executive Bob Chapek said in media interviews at this weekend’s D23 Expo event – an annual gathering of Disney fans where the company announces new shows and films-that he has plans for ESPN to be a big growth engine and a large part of the company’s entertainment offerings.
Hedge-Fund Trader Shah Wins Denmark Extradition Fight (Bloomberg)
Hedge-fund trader Sanjay Shah, who was arrested in Dubai earlier this year, won’t be extradited to Denmark to face charges in connection with a $1.9 billion cum-ex case. A Dubai court ruled in favor of Shah on Monday, Bjoern Gercke, his German lawyer said without giving any more detail on the decision. Local media reported that Denmark lost on an administrative technicality.
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Hedge Fund CIO: “Illiquidity Is The New Leverage And Flows Are More Important Than Fundamentals” (NXTMine.com)
Hedge Fund CIO: “Illiquidity Is The New Leverage And Flows Are More Important Than Fundamentals”. By Eric Peters, CIO of One River Asset Management. La Haine: “Illiquidity is the new leverage and flows are more important than fundamentals,” said the CIO, one of our industry’s great thinkers. “This has been our framework for considering vulnerabilities in the post-2008 world,” he said. “Following the GFC, an intended consequence of successive rounds of quantitative easing was a shift of systemic risk from banks to the asset management industry,” he explained, the Fed’s $9trln balance sheet now bloated beyond comprehension, quantitative tightening accelerating, rates rising at an unprecedented pace.
Forester Capital Invests in Chepstow Lane’s flagship Fund (Hedge Week)
Forester Capital, an alternative investment platform, is to make a strategic investment into the flagship fund of Chepstow Lane Capital LLP, a European-focused, opportunistic credit manager. The fund is managed by Agata Dornan, who was most recently a portfolio manager at Soros Fund Management. Dornan will employ a fundamental approach to investing in performing, stressed, and special situations across corporate and financial credit. Dornan has over 20 years of experience investing in credit, both as an analyst and portfolio manager. Her deep experience investing across European credit allows her to identify and take advantage of mispriced opportunities across a broad universe of idiosyncratic event-driven ideas.
Sam Bankman-Fried’s FTX Ventures and Anthony Scaramucci’s SkyBridge Deal Marries the Companies’ Love for Crypto with the Safety of More Stable Investments. (Business Insider)
One of the more interesting developments last Friday happened in the crypto space. Sam Bankman-Fried — founder of crypto exchange FTX and known by his initials SBF — acquired a 30% stake in SkyBridge Capital, an alternative investment firm. The deal was inked through SBF’s venture-capital firm FTX Ventures and will support growth initiatives for SkyBridge. SkyBridge, the hedge fund run by Anthony Scaramucci, will use the money from FTX to buy $40 million in cryptocurrencies, which it will hold on its balance sheet. The hedge fund’s decision to bet big on crypto comes during a tough patch for SkyBridge because its holdings of digital assets have plummeted and investors have sought redemptions from the fund.
Insider Trading: September 12, 2022 (BIV.com)
Insider James A Pattison, 10 per cent owner. Company: Westshore Terminals Investment Corp. (TSX:WTE). Shares owned: 5,869,932. Trade date: August 26. Trade total: $6,798,624. Trade: Acquisition of 214,400 shares at a price of $31.71 per share. Insider Larry Childress, 10 per cent owner. Company: Fireweed Metals Corp. (TSX-V:FWZ). Shares owned: 10,702,190. Trade date: August 25. Trade total: $439,900. Trade: Acquisition of 830,000 shares at a price of $0.53 per share.
$350 Million Bet On This Technology Stock? 3 Stocks Insiders Are Buying (Benzinga)
Asana: The Trade: Asana, Inc. (ASAN) President, CEO and Director Dustin Moskovitz bought a total of 19,273,127 shares at an average price of $18.16. To acquire these shares, it cost around $350 million. Coinbase Global: The Trade: Coinbase Global, Inc. (COIN) Director Tobias Lutke acquired a total of 5,894 shares at an average price of $62.00. To acquire these shares, it cost around $365.43 thousand.
Olaplex Holdings, Inc. (NASDAQ:OLPX) Insiders Placed Bullish Bets Worth US$1.2m in the Last 12 Months (Nasdaq.com)
Quite a few insiders have dramatically grown their holdings in Olaplex Holdings, Inc. (NASDAQ:OLPX) over the past 12 months. An insider’s optimism about the company’s prospects is a positive sign. While insider transactions are not the most important thing when it comes to long-term investing, we do think it is perfectly logical to keep tabs on what insiders are doing.
Brother of Ex-Coinbase Manager Pleads Guilty to Insider Trading Charge (Reuters)
NEW YORK, Sept 12 (Reuters) – The brother of a former Coinbase Global Inc (COIN.O) product manager pleaded guilty on Monday to a wire fraud conspiracy charge in what U.S. prosecutors have called the first insider trading case involving cryptocurrency. Nikhil Wahi said in a virtual court hearing before U.S. District Judge Loretta Preska that he made trades based on confidential Coinbase information.
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