Ex-Soros CIO Bessent Leads Key Square to 30% Gain on Yen Bet (Bloomberg)
Scott Bessent, a former Soros Fund Management investing chief, posted a 30% gain in his macro hedge fund this year through Tuesday — and he told clients he’s betting on a rising yen, gold and oil in 2023. The Bank of Japan’s surprise decision to widen the yield curve control band for 10-year government bonds marked a “seminal moment for global monetary policy and financial market liquidity,” Bessent, 60, told clients of his Key Square Capital Management in a Dec. 20 letter.
Investors Widely Prefer Small Private Equity And Hedge Funds (Forbes)
At a time when investors and fund managers have struggled to find returns, some corners of the alternative asset space have held up better than other areas of the markets, like public equities. As a result, it should be no surprise that institutional investors are planning to boost their allocations to alternative assets. However, one interesting finding from a recent survey is that smaller hedge funds and private equity funds with less than $250 million in assets under management are in demand.
Thursday 12/29 Insider Buying Report: VRAR, HSON (Nasdaq.com)
At Glimpse Group, a filing with the SEC revealed that on Tuesday, Director Lemuel Amen bought 38,189 shares of VRAR, at a cost of $2.88 each, for a total investment of $110,020. Investors can grab VRAR even cheaper than Amen did, with shares trading as low as $2.61 at last check today which is 9.3% under Amen’s purchase price. Glimpse Group is trading up about 3% on the day Thursday. Before this latest buy, Amen bought VRAR on 4 other occasions during the past year, for a total investment of $152,965 at an average of $3.66 per share. And on Wednesday, Chief Executive Officer Jeffrey E. Eberwein purchased $70,831 worth of Hudson Global, purchasing 3,000 shares at a cost of $23.61 each. Before this latest buy, Eberwein purchased HSON on 21 other occasions during the past year, for a total investment of $903,664 at an average of $29.77 per share.
$5.5 Million Bet On This Biotechnology Stock? Check Out These 3 Stocks Insiders Are Buying (Benzinga)
Terns Pharmaceuticals: The Trade: Terns Pharmaceuticals, Inc. (TERN) 10% owner Vivo Capital Surplus Fund VIII, L.P. acquired a total of 758,620 shares an average price of $7.25. To acquire these shares, it cost around $5.5 million. HighPeak Energy: The Trade: HighPeak Energy, Inc. (HPK) CEO Jack Hightower bought a total of 50,000 shares at an average price of $21.91. To acquire these shares, it cost around $1.1 million.
Director Kent Puckett Just Sold Off Mullen (MULN) Stock (InvestorPlace.com)
Mullen Automotive (MULN) held a shareholder meeting to decide on a possible reverse stock split, but that meeting was adjourned without a vote taken. An SEC form indicates that a director at Mullen sold off his entire stake in the company. MULN stock opened 8% higher this morning. Today’s traders have a lot to consider when it comes to electric vehicle (EV) manufacturer Mullen Automotive (NASDAQ:MULN).
