Hedge Fund Billionaire Warns of Disorder, Low Investment Returns in U.S. (Big News Network)
“We may see a situation in which neither side accepts losing and that conflict could be bad,” says Ray Dalio. The United States is facing great challenges due to disorder and investors are expected to experience a period of very low investment returns amid high inflation and monetary tightening, U.S. billionaire investor and hedge fund manager Ray Dalio has told Xinhua.
Hedge Fund Executive Saunders Buys Highland Beach Mansion for $35M (Photos) (Biz Journals)
Paul H. Saunders, a founder and CEO of hedge fund James River Capital Corp., and his wife, Victoria B. Saunders, who previously worked in human resources, paid $34.7 million for an oceanfront mansion in Highland Beach. The estate of the late Mark E. Hamister, with Daniel M. Hamister of Buffalo, New York as representative, sold the 13,679-square-foot home at 2445 S. Ocean Blvd. Gerard Liguori, Joseph Liguori and Carmen D’Angelo of Premier Estate Properties represented the seller in the deal, while Marcy F. Javor of Signature One Luxury Estates worked with the buyers. The price equated to $2,537 a square foot.
Hedge Fund Returns to Court in Battle to Buy Lee Enterprises (Chicago Tribune)
The hedge fund trying to buy newspaper publisher Lee Enterprises returned to court Tuesday in a bid to settle a dispute over how votes for two longtime board members should be counted next month at the company’s annual meeting. Alden Global Capital has already lost one lawsuit in the takeover battle when a judge decided last week that it wouldn’t be able to nominate its own directors at Lee’s March 10 annual meeting. Now it wants the court to decide how many votes Lee’s chairman and its lead independent director need to be re-elected.
Photo by Marga Santoso on Unsplash
German Market Update: Infrastructure’s Rise and ESG Transparency (Preqin)
The German alternatives market has shown stability and growth during uncertainty in 2021. Preqin data shows an increase in assets under management of 39% in the past three years, from €59bn in 2017 to €91bn as of January 2022. In this factsheet, we look at the changes the German alternatives market has experienced in the last year, and how ESG has introduced new opportunities.
Edward Eisler Starts New Fund in Multi-Strategy Push Like Brevan Howard (Bloomberg)
Edward Eisler is preparing to start his third hedge fund, adopting a route taken by rival Brevan Howard Asset Management to turn his eponymous investment firm into a multi-strategy trading powerhouse. Eisler Capital is set to launch the Eisler Capital Structure Opportunities Fund in the first half of 2022, according to people with knowledge of the matter. It will be managed by Graham Wood and James Atkinson, who joined last year, having previously worked for Myriad Asset Management, according to the people who asked not to be identified because the details are private.
McDonald’s: We May Be Liars, But Carl Icahn’s A Hypocrite (Deal Breaker)
If you doubted the seriousness of Carl Icahn’s concern for the suffering of sows wh ose sons are destined to become McDonalds’s sausage patties, well, doubt no more: He’s doubled his stake in the fast-food chain (to a staggering 200 shares) and is doing what he does best, taking this fight to the schoolyard of the annual general meeting.
EXCLUSIVE: This Top Hedge Fund Manager Is Bullish On US Cannabis Stocks, Here’s Why (Benzinga)
Investment expert and former hedge fund manager Whitney Tilson, current president and CEO of Empire Financial Research, recently stopped by Benzinga Cannabis Hour to discuss his investment thesis including his 2022 outlook as it pertains to the booming cannabis industry.
Hedge Funds Slash Tech In Pivot To Other Strategies, Goldman Report Says (FA.Mag.com)
U.S. hedge funds have been slashing positions in technology stocks, and started 2022 more tilted toward cheaper shares than at any time in over a decade, according to Goldman Sachs Group Inc. “Filings show hedge funds positioning for a different equity market environment than the one that has characterized most of the last several years,” strategists led by Ben Snider wrote in a note to clients. Funds with $2.6 trillion of gross equity holdings have reduced positions in more expensive growth sectors in favor of energy and financials, according to the note.
Cohen-Backed Sports Collectibles Firm Signs N.J. Office Lease (Bloomberg)
Collectors Holdings, owned by hedge fund billionaire Steve Cohen and partners, signed a major office lease in New Jersey as it expands on the East Coast. The Santa Ana, California-based firm, the parent of Professional Sports Authenticator, is renting roughly 130,000 square feet (12,100 square meters) of offices at Harborside 3 on the Jersey City waterfront, according to a statement Wednesday.
Wednesday 2/23 Insider Buying Report: IAA, GWRS (Nasdaq.com)
On Friday, IAA (IAA)’s Director, Peter Kamin, made a $5.05M buy of IAA, purchasing 142,100 shares at a cost of $35.56 each. IAA is trading up about 1% on the day Wednesday. Before this latest buy, Kamin made one other buy in the past twelve months, purchasing $3.93M shares for a cost of $35.76 each. And on Monday, Director Andrew M. Cohn bought $440,000 worth of Global Water Resources (GWRS), buying 27,500 shares at a cost of $16.00 each. Before this latest buy, Cohn bought GWRS on 7 other occasions during the past year, for a total investment of $512,396 at an average of $16.49 per share. Global Water Resources is trading up about 2.1% on the day Wednesday. Investors are able to pick up GWRS even cheaper than Cohn did, with the stock trading as low as $15.18 at last check today which is 5.1% below Cohn’s purchase price.
SEC Charges Director of Investor Relations with Insider Trading (HedgeCo.net)
(HedgeCo.Net) The Securities and Exchange Commission has charged John-Michael Havrilla, a former employee of medical device company PAVmed Inc., for insider trading in advance of the company’s April 2020 positive earnings announcement. To settle the charges against him, Havrilla agreed to pay more than $160,000 in civil penalties and consented to a five-year officer-and director-bar and injunctive relief. The SEC’s complaint, filed in federal court in Manhattan, alleges that three days before the April 9, 2020 earnings release, Havrilla, then Director of Investor Relations for PAVmed, received a draft copy of the company’s earnings results for the fourth quarter and full year of 2019.
