Third Point boss Loeb Cools on ESPN Spin-Off Plan (Hedge Week)
Third Point founder Daniel Loeb has cooled on his plan to see Disney’s sports broadcaster ESPN spun off into its own standalone business, according to reports. Last month, the activist investor submitted a set of demands to Disney, including the ESPN plan, after his New York-based hedge fund acquired a $1 billion stake in the entertainment giant. Other proposals included accelerating the timetable for acquiring Comcast’s minority stake in Hulu, and fully integrating Hulu into Disney.
Hedge Funds Face Tighter SEC Clearing Rules on Treasuries Trades (Bloomberg)
Hedge funds would have to start centrally clearing many of their transactions in US Treasuries under a new regulatory plan designed to protect against a market meltdown. The Securities and Exchange Commission on Wednesday voted unanimously in favor of proceeding with a plan to give clearinghouses — which sit between buyers and sellers and ultimately backstop the transactions — a much bigger footprint in the $24 trillion dollar market for American government bonds. The draft regulations would make trading safer and limit the chance of any single firm harming the broader financial system, according to the SEC. If finalized, the regulations would represent a significant overhaul for the market and are likely to draw pushback from parts of Wall Street.
NS Quant Closes Down in Trendy Environment (Hedge Nordic)
Stockholm (HedgeNordic) – Systematic trend-following strategies as a group have enjoyed an outstanding 2022 so far, but the industry still experienced diverging fortunes this year. Finnish systematic managed futures fund NS Quant has now been closed down after struggling to capture trends in what has broadly been a fertile environment for quantitative trend-following hedge funds in 2022. Down 12.2 percent in the first eight months of 2022, NS Quant has seen its assets under management drop below €2 million during the summer.
Hedge Fund Investors Look for Protection in Uncorrelated Strategies (Institutional Investor)
“Right now, there are a lot of investors concerned about both the equity and the fixed income marketplace and think there could be further sell-offs in both markets,” said Don Steinbrugge, CEO and Founder of Agecroft Partners. Investors in hedge funds are seeking out more defensive strategies amid a volatile market environment. Commodity trading advisors and global macro strategies have seen the largest increases in investor interest over the course of the past year, according to Agecroft Partners, a consulting firm, which released data from a recent survey of investors. Respondents to the survey were asked which types of hedge fund managers they were currently interested in meeting.
Wednesday 9/14 Insider Buying Report: RDFN (Nasdaq.com)
On Tuesday, at Redfin, there was insider buying on Friday, by Director James Slavet who bought 100,000 shares at a cost of $8.40 each, for a trade totaling $840,430. Redfin is trading down about 0.6% on the day Wednesday.
Over $29 Million Bet On Energy Transfer? 3 Stocks Insiders Are Buying (Benzinga)
Energy Transfer: The Trade: Energy Transfer LP ET Executive Chairman Kelcy Warren acquired a total of 2,428,747 shares at an average price of $12.04. To acquire these shares, it cost around $29.24 million. Medpace Holdings: The Trade: Medpace Holdings, Inc. (MEDP) CEO August J Troendle bought a total of 113,114 shares at an average price of $160.99. To acquire these shares, it cost around $18.21 million.
