Dalio Says China’s Winning Trade War With US But Clash Avoidable (BNN Bloomberg)
(Bloomberg) — Ray Dalio, the founder of hedge fund Bridgewater Associates, said China is coming out on top in the trade war with the US, though the standoff between the world’s two biggest economies likely won’t escalate into military conflict. The billionaire investor told a conference in Dubai on Wednesday that the renminbi was beginning to be used more widely for international trade and the real winners of the confrontation will be those able to tap into both the US and China.
FTX Negotiates for Return of $400 Million From Obscure Hedge Fund (The New York Times)
The founders of the trading firm Modulo Capital are in talks with FTX about returning the investment that Sam Bankman-Fried made in the fund. After the cryptocurrency exchange FTX collapsed last year, bankruptcy lawyers, federal prosecutors and forensic investigators embarked on a global hunt to recover billions of dollars in lost deposits and repay the firm’s customers. One large chunk of money has been sitting for months in an interest-bearing account at JPMorgan Chase, the world’s largest bank. JPMorgan holds $400 million that FTX’s founder, Sam Bankman-Fried, invested in an obscure hedge fund, Modulo Capital, four people with knowledge of the matter said.
Wednesday 2/15 Insider Buying Report: ASPS, VAPO (Nasdaq.com)
At Altisource Portfolio Solutions, a filing with the SEC revealed that on Tuesday, John G. Aldridge Jr. bought 20,000 shares of ASPS, for a cost of $5.00 each, for a total investment of $100,000. Altisource Portfolio Solutions is trading up about 4.8% on the day Wednesday. This buy marks the first one filed by Aldridge Jr. in the past year. And at Vapotherm, there was insider buying on Friday, by Director Lance A. Berry who purchased 95,238 shares at a cost of $1.05 each, for a total investment of $100,000. Before this latest buy, Berry made one other purchase in the past twelve months, buying $49,840 shares at a cost of $3.18 each. Vapotherm is trading up about 20.4% on the day Wednesday.
Fox, MGM Resorts And 3 Other Stocks Insiders Are Selling (Benzinga)
Moderna: The Trade: Moderna, Inc. (MRNA) Director Noubar B. Afeyan sold a total of 20,000 shares at an average price of $167.84. The insider received around $3.36 million from selling those shares. MGM Resorts International: The Trade: MGM Resorts International (MGM) CEO and President William Hornbuckle sold a total of 110,000 shares at an average price of $44.86. The insider received around $4.93 million from selling those shares.
London Hedge Fund Makes $150 Million on Bust Norwegian Papermaker (Bloomberg)
Oceanwood Capital Management LLP’s bet on a bankrupt Norwegian newsprint manufacturer has finally paid off, nearly five years after the hedge fund bought it out of bankruptcy. The London-based outfit made around $150 million in its wager on Norske Skog ASA, after an initial investment of around $300 million, according to a person familiar with the numbers. Oceanwood sold the vast majority of its shares in the company, according to a statement issued last week.
