Clash Between Founder and Protégé Plunges Och-Ziff Into Crisis (The Wall Street Journal)
Once they were mentor and protégé. Now Daniel Och and James Levin are trapped in a battle for the future of one of New York’s biggest investment firms. In the late 1990s, Mr. Levin was working at a summer camp in Wisconsin, teaching Mr. Och’s son how to water ski. By last year, the younger man was in line to succeed Mr. Och as chief executive of Och-Ziff Capital Management LLC, the largest publicly traded hedge fund in the U.S. with $33 billion in assets under management.
Dalio Says Bonds Face Biggest Bear Market in Almost 40 Years (Bloomberg)
Billionaire hedge-fund manager Ray Dalio said that the bond market has slipped into a bear phase and warned that a rise in yields could spark the biggest crisis for fixed-income investors in almost 40 years. “A 1 percent rise in bond yields will produce the largest bear market in bonds that we have seen since 1980 to 1981,” Bridgewater Associates founder Dalio said in a Bloomberg TV interview in Davos on Wednesday. We’re in a bear market, he said.
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Hedge Fund TCI Predicts £15bn Bid For London Exchange Owner (Juicebrighton.com)
The hedge fund which laid siege to the London Stock Exchange’s boardroom last year has stoked expectations of a £15bn takeover bid for the company from a transatlantic rival. Sky News has learnt that Sir Christopher Hohn, who runs The Children’s Investment Fund Management (TCI), told investors last week that consolidation in the exchanges sector was inevitable. Sources familiar with Sir Christopher’s remarks said he predicted that a takeover bid from either CME Group, which owns the Chicago Mercantile Exchange, or the New York Stock Exchange’s parent, Intercontinental Exchange (ICE), was increasingly likely for all or part of the LSE’s business.
The World’s Hottest Hedge Fund Says Banking Juniors Aren’t Adequately Trained (news.efinancialcareers.com)
Jonathan Jones knows a thing or two about investment banks’ analyst programmes. Between 2003 and 2012 he occupied a range of recruiting roles for Goldman Sachs, including the global head of recruitment for the investment banking division. Nowadays, Jones is the head of investment talent development for Point72 Asset Management, the family office of hedge fund manager Steve Cohen: he’s the man to talk to if you want to work with Cohen as a portfolio manager. Jones says Point72 hires juniors from banks, but they always need additional training. “Our own Point72 Academy Program for training graduates is substantive and rigorous,” says Jones. “The whole thing lasts for 10 months.” By comparison, he says most investment bank training programmes last only six weeks.
Deere & Company (DE) Insider Sells 22,095 Shares (The Ledger Gazette)
Deere & Company (NYSE:DE) insider James M. Field sold 22,095 shares of the company’s stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $170.06, for a total value of $3,757,475.70. Following the completion of the sale, the insider now owns 95,832 shares in the company, valued at approximately $16,297,189.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Insider Selling: Carnival Corp (CCL) Director Sells 4,234 Shares of Stock (Stock News Times)
Carnival Corp (NYSE:CCL) Director Richard Glasier sold 4,234 shares of the company’s stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $68.23, for a total value of $288,885.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Carnival Corp (NYSE:CCL) opened at $68.51 on Wednesday.
Insider Buying: Golden Star Resources Ltd. (GSC) Insider Purchases 15,000 Shares of Stock (BBNS)
Golden Star Resources Ltd. (TSE:GSC) (NYSE:GSS) insider Karen Denise Walsh acquired 15,000 shares of the company’s stock in a transaction dated Monday, January 22nd. The shares were bought at an average cost of C$0.82 per share, with a total value of C$12,300.00. Golden Star Resources Ltd. (TSE GSC) opened at C$1.03 on Wednesday. Golden Star Resources Ltd. has a one year low of C$0.76 and a one year high of C$1.33. The company has a market cap of $524.96, a PE ratio of 12.88 and a beta of -1.29.
Insider Selling: Snap Inc (SNAP) Director Sells 25,000 Shares of Stock (Week Herald)
Snap Inc (NYSE:SNAP) Director Mitchell Lasky sold 25,000 shares of Snap stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $13.54, for a total value of $338,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission.
Insider Selling: Basic Energy Services, Inc. (NYSE:BAS) Major Shareholder Sells 24,000 Shares of Stock (Dispatch Tribunal)
Basic Energy Services, Inc. (NYSE:BAS) major shareholder Ascribe Capital Llc sold 24,000 shares of the business’s stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $26.17, for a total transaction of $628,080.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
Insider Selling: Envestnet Inc (NYSE:ENV) Insider Sells 10,000 Shares of Stock (DispatchTribunal)
Envestnet Inc (NYSE:ENV) insider Anil Arora sold 10,000 shares of the company’s stock in a transaction dated Thursday, January 11th. The stock was sold at an average price of $53.88, for a total transaction of $538,800.00. Following the transaction, the insider now owns 110,731 shares of the company’s stock, valued at approximately $5,966,186.28. The transaction was disclosed in a filing with the SEC.
