Here’s Why Hedge Fund Manager Dan Niles Likes Facebook as a Reopening Play (CNBC)
Hedge fund manager Dan Niles said he likes Facebook shares as a reopening play and added a streaming alternative to Netflix in his portfolio. While the Satori Fund founder and senior portfolio manager said he’s avoided high-valuation technology stocks, he believes Facebook could gain from increased advertising as Covid restrictions ease.
Federal Prosecutors Have Asked Banks for Information About Archegos Meltdown (The Wall Street Journal)
Federal prosecutors in New York have requested information about Archegos Capital Management from banks across Wall Street, according to people familiar with the matter. Banks that lent to Archegos, including Credit Suisse Group AG, UBS Group AG, Goldman Sachs Group Inc. and Morgan Stanley , have been contacted for information, the people said.
Kevin Ulrich Scored a $2 Billion MGM Win. It Only Took a Decade (Bloomberg)
Hedge funds often measure their investments in minutes, not decades; but for Anchorage Capital Group, its long-held stake in Metro-Goldwyn-Mayer Studios Inc. is proving that patience can also be profitable. The New York-based money manager stands to make roughly $2 billion on its investment in the film and TV producer, one that began almost 11 years ago with MGM in bankruptcy court. Amazon.com Inc. agreed to buy the company for $8.45 billion Wednesday, a price that includes just under $2 billion in debt.
Mike Novogratz Said DeFi could Destroy Banks, Shiba Inu and Doge are Unsustainable, and Crypto Traders should Avoid Leverage in a Recent Interview. Here are the 11 Best Quotes. (Business Insider)
Billionaire crypto investor Mike Novogratz said decentralized finance, or DeFi, could spell serious trouble for banks, that shiba inu coin and dogecoin are unsustainable, and that crypto traders should avoid excessive leverage in an interview with Binance’s podcast on Wednesday. He also revealed that speaking to ethereum entrepreneur Joe Lubin convinced him that crypto would be a revolution, that the 2017 bitcoin rally was a turning point for him, and argued that the crypto community was often too angry.
Q1 2021 Hedge Fund Asset Flows (Preqin)
Hedge fund assets under management passed the $4tn mark as of the end of Q1 2021, with AUM surging to an all-time high of $4,146bn. In this factsheet, we present hedge fund asset flow data for Q1 2021, including breakdowns by strategy, region, past performance, and fund size.
A Good Reputation is Worth Real Money (Hedge Nordic)
Stockholm (HedgeNordic) – The number of activists and the abundance of capital to invest have been increasing, with activist investors becoming a force to reckon with. While some management teams may be wary of shareholder activism, some executives in the Nordics are welcoming one particular activist with open arms. Throughout its 13-year journey, Nordic-focused activist investor Accendo Capital has built an intangible but powerful and hard-to-replicate asset: reputation – a reputation as a collaborative, value-enhancing shareholder.
GWM Unveils ESG Merger Arb Hedge Fund Amid Rising Corporate Activity (Hedge Week)
London-based GWM Asset Management has launched a novel merger arbitrage hedge fund strategy which uses ESG (environmental, social and governance) factors in its investment process. The strategy, which rolled out in early May with USD270 million in assets, has a specific focus on mergers and acquisitions in Europe, applying sustainable investment criteria to its position-building and excluding controversial sectors. Commenting on the launch of the ESG-focused fund, Peter Sartogo, managing partner at GWM said moves towards sustainability within the investment and wealth management communities is now “of crucial importance.”
New Hedge Funds Bask in Exxon’s Climate Spotlight (Reuters)
The successful board challenge against Exxon Mobil Corp (XOM.N) casts a spotlight on two recently launched sustainability-focused investment firms that took opposite sides in the high-stakes battle: Engine No. 1 and Inclusive Capital Partners. Engine No. 1 set the spark in January by formally nominating four directors to Exxon’s board, accusing it of not moving fast enough to diversify away from fossil fuels. Inclusive Capital Partners sided with Exxon after its founder Jeffrey Ubben joined the energy giant’s board in March, and argued it was already working with the company to improve its technology in areas such as carbon capture.
AVI Asks Third Point Investors to Tackle Its Discount (Quote Data)
AVI asks Third Point Investors to tackle its discount – Asset Value Investors, managers of AVI Global Trust, have written to the directors of Third Point Investors, the London-listed hedge fund, to ask them to convene a general meeting at which a resolution would be put to shareholders: THAT the existing investment policy of the Company (as set out in the annual report and audited financial statements of the Company for the year ended 31 December 2020) be changed as set out below, with the proposed changes being shown in blackline.
Bitcoin ETFs from Fidelity and Skybridge Capital are Under Review by the SEC (Business Insider)
The Securities and Exchange Commission is reviewing applications for bitcoin exchange-traded funds filed by Fidelity and SkyBridge Capital, the hedge fund founded by Anthony Scaramucci. The SEC is examining a request from Fidelity Investments to launch the Wise Origin Bitcoin Trust, according to a filing dated May 25, and it is looking at SkyBridge’s petition to start the First Trust SkyBridge Bitcoin ETF Trust, according to paperwork dated May 21.
Thursday 5/27 Insider Buying Report: QS, PCT (Nasdaq.com)
On Tuesday, QuantumScape’s Director, Brad W. Buss, made a $238,257 purchase of QS, buying 10,000 shares at a cost of $23.83 each. Buss was up about 11.9% on the purchase at the high point of today’s trading session, with QS trading as high as $26.67 in trading on Thursday. QuantumScape is trading down about 3% on the day Thursday. And at PureCycle Technologies, there was insider buying on Monday, by Corporate Controller Melissa Westerman who purchased 11,400 shares at a cost of $17.47 each, for a trade totaling $199,158. PureCycle Technologies is trading up about 1.1% on the day Thursday.
Anthem Inc (ANTM) EVP & CFO John E Gallina Sold $18.3 million of Shares (Guru Focus)
EVP & CFO of Anthem Inc, John E Gallina, sold 46,444 shares of ANTM on 05/24/2021 at an average price of $394.89 a share. The total sale was $18.3 million.
The President of Liquid Media Group (NASDAQ: YVR) is Selling Shares (Analyst Ratings)
Today, the President of Liquid Media Group (YVR), Charles Aaron Brezer, sold shares of YVR for $247.7K. Based on Liquid Media Group’s latest earnings report for the quarter ending November 30, the company posted quarterly revenue of $25.39K and GAAP net loss of -$1,413,453. In comparison, last year the company earned revenue of $1,923 and had a GAAP net loss of $2.5 million. The company has a one-year high of $7.50 and a one-year low of $1.27.
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