Soros-Backed Hedge Fund Starts EM Pool as Assets Said to Surge (Bloomberg)
Glen Point Capital LLP, a London-based hedge-fund firm that counts billionaire George Soros among its investors, has started a macro strategy to target trading opportunities in emerging markets, according to an investor document seen by Bloomberg News. The Glen Point Emerging Markets Debt Fund started trading in March with about $230 million in initial capital from one of its exiting investors and is currently raising additional money. The long-biased strategy, managed by Glen Point’s head of credit strategy and partner Rodrigo da Fonseca and head of research Sean Shepley, focuses on sovereign debt, the document shows.
Why Hedge Funds Don’t Suck After All, Despite Trailing The Market (Forbes)
Hedge funds get a bad rap for not beating the market, sometimes even posting losses. But is market beating what the hedgies are supposed to do? The answer: Although besting the S&P 500 or some other market benchmark is a nice-to-have extra, hedge operators’ foremost objectives is to give you diversity and downside protection long-term. Numerous investors in the celebrated William Ackman’s Pershing Square Capital Management seem to think otherwise. A bunch have withdrawn their money, and its assets are down to about $8 billion from $20 billion in mid-2015, according to a report in the Wall Street Journal.
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As a Secretive Hedge Fund Guts Its Newspapers, Journalists Are Fighting Back (The Washington Post)
Demoralized by rounds of job cuts, journalists at San Jose’s Mercury News and East Bay Times in Oakland, Calif., took their case to the public last month. At a rally in Oakland, they handed out a fact sheet detailing the “pillaging” of their papers, accompanied by a cartoon of a business executive trying to milk from an emaciated cow. “Dude! I’d produce more milk if you fed me!” read the caption. The drawing was a barely veiled swipe at the newspapers’ majority owner, a little-known hedge fund called Alden Global Capital.
Prominent Crypto Hedge Fund Says Worst Is Over for Bitcoin (The Wall Street Journal)
A prominent cryptocurrency hedge fund said bitcoin prices have bottomed out. San Francisco-based Pantera Capital Management called $6,500 the probable low for bitcoin in the current bear market. The investment firm also said it was “highly likely” that bitcoin will hit new highs and exceed $20,000 within a year. Pantera, a leading voice in the crypto market, makes rare-but significant-short-term calls.
Insider Selling: Take-Two Interactive Software Inc (TTWO) President Sells 227,671 Shares of Stock (StockNewsTimes.com)
Take-Two Interactive Software Inc (NASDAQ:TTWO) President Karl Slatoff sold 227,671 shares of the firm’s stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $95.75, for a total value of $21,799,498.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission.
Insider Selling: PennyMac Financial Services Inc (NYSE:PFSI) Insider Sells 30,372 Shares of Stock (TheLincolnianOnline.com)
PennyMac Financial Services Inc (NYSE:PFSI) insider Doug Jones sold 30,372 shares of the stock in a transaction on Wednesday, April 4th. The stock was sold at an average price of $22.99, for a total value of $698,252.28. The transaction was disclosed in a legal filing with the SEC.
Insider Selling: Estee Lauder Companies (NYSE:EL) EVP Sells 40,797 Shares of Stock (StockNewsTimes.com)
Estee Lauder Companies (NYSE:EL) EVP Gregory Polcer sold 40,797 shares of Estee Lauder Companies stock in a transaction dated Thursday, March 29th. The shares were sold at an average price of $150.00, for a total value of $6,119,550.00. Following the transaction, the executive vice president now directly owns 110,706 shares of the company’s stock, valued at approximately $16,605,900. The transaction was disclosed in a legal filing with the SEC.
Insider Selling: Blue Buffalo Pet Products (NASDAQ:BUFF) Insider Sells 21,200 Shares of Stock (RegistrarJournal.com)
Blue Buffalo Pet Products (NASDAQ:BUFF) insider William W. Bishop, Jr. sold 21,200 shares of the business’s stock in a transaction that occurred on Tuesday, April 3rd. The stock was sold at an average price of $39.87, for a total transaction of $845,244.00. Following the sale, the insider now owns 585,130 shares of the company’s stock, valued at approximately $23,329,133.10. The sale was disclosed in a legal filing with the SEC.
Insider Selling: Aduro BioTech Inc (NASDAQ:ADRO) Insider Sells 40,000 Shares of Stock (WeekHerald.com)
Aduro BioTech Inc (NASDAQ:ADRO) insider Stephen T. Isaacs sold 40,000 shares of the stock in a transaction dated Monday, April 2nd. The shares were sold at an average price of $8.91, for a total transaction of $356,400.00. Following the completion of the transaction, the insider now owns 245,746 shares of the company’s stock, valued at approximately $2,189,596.86. The sale was disclosed in a filing with the SEC.
Insider Buying: First Acceptance Co. (NYSE:FAC) Director Acquires 29,364 Shares of Stock (RegistrarJournal.com)
First Acceptance Co. (NYSE:FAC) Director Rhodes R. Bobbitt purchased 29,364 shares of the stock in a transaction dated Wednesday, March 28th. The stock was purchased at an average cost of $0.93 per share, for a total transaction of $27,308.52. Following the completion of the acquisition, the director now owns 479,661 shares of the company’s stock, valued at approximately $446,084.73. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
