Ep. 160: Ken Tropin on How to Run a Successful Macro Hedge Fund (Macrohive.com)
Ken Tropin is a legend in the macro space. He is the Chairman and the founder of Graham Capital Management (GCM) – $18bn fund. Ken founded GCM in 1994 and over the last 28 years has grown the firm into an industry leading alternative investment manager focusing on global macro discretionary and quantitative hedge fund strategies. Prior to founding GCM, Ken had significant experience in the alternative investment industry, including five years (1989 to 1993) as President and Chief Executive Officer of John W. Henry & Company, Inc. and seven years (1982 to 1989) as Senior Vice President and Director of Managed Futures at Dean Witter Reynolds.
Market Environments Like Today’s Have Historically Been Great For David Einhorn’s Greenlight Capital – A Look At Its Top Three Holdings (Business Insider)
David Einhorn’s career on Wall Street has been an interesting one, and despite being one of the most-followed and well-known hedge fund managers in the United States, his Greenlight Capital is currently not managing a significant amount of money (relatively). Assets under management at Greenlight stood at a somewhat modest $1.44 billion as of the end of 2022. The beginning of Einhorn’s career could only be described as a meteoric rise, driven by heady returns in the early days of Greenlight.
Viking Global’s Top Five Stock Bets (Benzinga)
Viking Global Investors is an elite hedge fund run by former Tiger Cub Andreas Halvorsen. The Norwegian billionaire has a nearly unparalleled track record of success in the often fickle stock-picking game. Undoubtedly, much of this can be attributed to his tutelage under Julian Robertson at Tiger Management in the 1990s. Big money managers could do well just limiting themselves to the small, but influential, universe of funds that trace their roots back to Robertson and Tiger. As stated earlier, stocks are a fickle business. Trends, styles, strategies, and market dynamics shift like the weather and, as a result, only the sharpest and best-capitalized investment platforms tend to produce year in and year out. Viking is absolutely one of those firms.
Copyright: welcomia / 123RF Stock Photo
Hedge Fund Manager Nears Deal for Birmingham City FC Stake (Bloomberg)
Tom Wagner is co-founder of Knighthead Capital Management. He would join other US buyers targeting British football clubs. Hedge fund manager Tom Wagner is close to buying a stake in Birmingham City Football Club, according to people familiar with the matter. Wagner is a co-founder of Knighthead Capital Management, which oversees about $9 billion and focuses on event-driven investing and distressed credit. The New York-based firm declined to comment.
Engine Capital to Oppose Ee-election of Parkland Board (Hedge Week)
Activist hedge fund Engine Capital, which has been agitating for a shakeup at US convenience store and fuel station owner Parkland Corp, is to oppose the re-election of the company’s board members, according to a report by the Globe and Mail. The report cites a letter sent by the New York-based firm to Parkland on Thursday as revealing that it wants to see the company either broken up or privatised, having had its requests to meet with directors rebuffed.
Announcing the Winners of the 2022 Nordic Hedge Award (Hedge Nordic)
Stockholm (HedgeNordic) – HedgeNordic is pleased to announce the winners at the 2022 Nordic Hedge Award. We are pleased to have gathered the Nordic hedge fund community the old fashioned way: meeting old friends and making new connections with drinks and laughs, exchanging business cards and war stories in the flesh – all while celebrating outstanding talent and achievement in the Nordic hedge fund arena. A big round of applause to those determined as being the best Nordic hedge funds of 2022.
Recession-Wary Investors Pour $9.1 Billion into Hedge Funds in First Quarter (Reuters)
BOSTON (Reuters) – Hedge funds pulled in $9.1 billion in new money during the first three months of 2023, data showed on Friday, after last year’s hefty outflows as pension funds and other investors navigated a banking crisis and faced fresh fears of an economic downturn. It was the first quarterly inflow for hedge funds since early 2022, new data from Hedge Fund Research (HFR) showed.
Billion-Dollar Hedge Fund Startups Rise to Pre-Pandemic Levels (Bloomberg)
The biggest new hedge funds are raising more money, at levels not seen since before the pandemic, and the 2024 crop could include one of the largest startups in years. At least four new firms are poised to eclipse $1 billion by year-end, collectively bringing in at least $6.5 billion from investors, according to people with knowledge of the fundraising activities.
Time to Buy Man Group as Results Arrive Next Week, Says UBS (Proactive Investors)
Man Group PLC (LSE:EMG) was given an upgrade to ‘buy’ and a target price hike by UBS ahead of its first-quarter update next Wednesday. Performance fee expectations for the FTSE 250-listed hedge fund group have fallen sharply following a difficult March at its AHL strategies. But the UBS analysts said they think the 30% share price decline “more than reflects this”, with the shares now trading at “just” 13.5 times 2024 forecast management fee earnings.
Friday 4/21 Insider Buying Report: SFBS, QCRH (Nasdaq.com)
On Thursday, ServisFirst Bancshares’ CEO, Thomas A. Broughton, made a $149,853 purchase of SFBS, buying 3,000 shares at a cost of $49.95 each. ServisFirst Bancshares is trading up about 0.3% on the day Friday. Before this latest buy, Broughton bought SFBS at 3 other times during the past twelve months, for a total cost of $98,718 at an average of $73.23 per share. And also on Thursday, Director Marie Z. Ziegler bought $6,521 worth of QCR Holdings, buying 160 shares at a cost of $40.76 a piece. Before this latest buy, Ziegler purchased QCRH at 4 other times during the past twelve months, for a total cost of $26,117 at an average of $54.30 per share. QCR Holdings is trading up about 0.1% on the day Friday. So far Ziegler is in the green, up about 1.6% on their buy based on today’s trading high of $41.40.
Apple, Zoom Video And 2 Other Stocks Insiders Are Selling (Benzinga)
Apple: The Trade: Apple Inc. (AAPL) Senior Vice President Luca Maestri sold a total of 69,996 shares at an average price of $165.25. The insider received around $11.57 million from selling those shares. Zoom Video Communications: The Trade: Zoom Video Communications, Inc. (ZM) Chief Accounting Officer Shane Crehan sold a total of 11,049 shares at an average price of $68.13. The insider received around $752.77 thousand from selling those shares.
