These Two Hedge Fund Managers have a Track Record of Outperformance. (The Motley Fool)
Jim Simons and Josh Resnick might not be familiar names to many investors, but both hedge fund managers have beaten the S&P 500 over the past three years. During that time, Simons’ Renaissance Technologies and Resnick’s Jericho Capital Asset Management delivered returns of 76% and 100%, respectively, topping the 68% total return of the broader market. Both money managers are clearly doing something right, so investors could find it helpful to track their portfolios. For instance, Resnick started a position in Tesla (TSLA) during the first quarter, and Simons added to his position in Alphabet (GOOG) (GOOGL).
George Soros, Hollywood Megadonors Bankroll Stacey Abrams’ Leadership PAC (Fox News)
Stacey Abrams’ second gubernatorial bid in Georgia is enjoying massive donations from Democratic mega donors outside the state like billionaire George Soros and Hollywood director Steven Spielberg, filings reviewed by Fox News Digital shows. One Georgia Inc., an Abrams-associated leadership committee that is able to collect unlimited donations under new Georgia law, filed its contribution disclosure report with the state Friday afternoon, showing that wealthy progressives from across the country are pouring money into Abrams’ second attempt to unseat Georgia Republican Gov. Brian Kemp.
Three Arrows Founders’ Whereabouts Are Unknown, Foiling Liquidators (Bloomberg)
The founders of bankrupt crypto hedge fund Three Arrows Capital haven’t been cooperating in the firm’s liquidation process and their whereabouts were unknown as of Friday, according to court papers. Representatives tapped to liquidate Three Arrows by a British Virgin Islands judge had “not yet received any meaningful cooperation” from Kyle Davies and Zhu Su, lawyers said in US bankruptcy court filings. Advisory firm Teneo is attempting to round up and preserve the assets of the hedge fund.
Pressmaster/Shutterstock.com
Hedge Fund Manager Adam Levinson Sells Hamptons Home for $42 Million (Behind the Hedges)
Hedge fund manager Adam Levinson sold his Hamptons home for $42 million, in what appears to be an off-market deal this spring. The transaction is among the most expensive sales in the Hamptons so far this year. Suffolk County deed transfers available this week show the newly built modern oceanfront home, located at 11 Beach Plum Court on Napeague, between Amagansett and Montauk, traded on April 28.
6 Times Warren Buffett, Jim Cramer and Other Experts Were Right About the Stock Market (GoBankingRates.com)
Public figures in the world of finance are easy targets when they make bad market calls. As commentators like Jim Cramer and billionaires like Warren Buffett are frequently quoted in the press, their missteps are publicly available for all to see. What gets often overlooked,. however, are the number of times that these experts make correct market calls. Here are just a few of the times that Cramer, Buffett and other well-known experts have made profitable calls in stocks or the market overall.
Abrdn Launches First Hedge-Fund Index Trackers (The Wall Street Journal)
Abrdn PLC (ABDN) is bringing index investing to the $5 trillion hedge-fund universe. The asset manager is launching a platform called Eclipse, which it says will be the first to give institutional investors passive exposure to hedge-fund strategies through indexes built by Hedge Fund Research Inc.
Hedge Funds Fall 5.9% in First Half (The Express Tribune)
NEW YORK: Hedge funds posted a negative performance in June, bringing losses this year to almost 6%, as volatility across markets accelerated, a report by hedge fund data provider HFR showed on Friday. The fund weighted composite index fell 3.08% last month. All main four different hedge fund categories tracked by HFR – equity, event-driven, macro and relative value – posted losses in June.
Hedge Fund Backed by KKR Bets India Stocks to Rise, CPI to Fall (Bloomberg)
Indian stocks are an attractive bet because inflation has peaked and this will become evident in price data within a few months, according to a hedge fund backed by KKR & Co. “We are big on consumer discretionary, led by auto, and industrials — these industries will immensely benefit when prices fall,” Vaibhav Sanghavi, co-Chief Executive Officer of Avendus Capital Public Markets Alternate Strategies, said in an interview in Mumbai.
Monday 7/11 Insider Buying Report: RKT, ESTE (Nasdaq.com)
On Wednesday, Rocket Companies’ Chief Executive Officer, Jay Farner, made a $398,214 buy of RKT, purchasing 48,600 shares at a cost of $8.19 a piece. Farner was up about 7.2% on the purchase at the high point of today’s trading session, with RKT trading as high as $8.79 at last check today. Rocket Companies is trading up about 0.2% on the day Monday. Before this latest buy, Farner bought RKT at 29 other times during the past year, for a total investment of $13.04M at an average of $8.52 per share. And also on Wednesday, Director Jay Frederick Joliat purchased $235,963 worth of Earthstone Energy, purchasing 20,237 shares at a cost of $11.66 each. This purchase marks the first one filed by Joliat in the past year. Earthstone Energy is trading trading flat on the day Monday. Joliat was up about 5.9% on the buy at the high point of today’s trading session, with ESTE trading as high as $12.35 at last check today.
Insider Trading: July 11, 2022 (BIV.com)
Insider James A Pattison, 10 per cent owner. Company: Westshore Terminals Investment Corp. (TSX:WTE). Shares owned: 4,719,541. Trade date: Jun 24. Trade total: $5,049,600. Trade: Acquisition of 160,000 shares at a price of $31.56 per share. Insider Stuart Raftus, officer. Company: Canaccord Genuity Group Inc. (TSX:CF). Shares owned: 2,010,586. Trade date: Jun 23. Trade total: $1,740,000. Trade: Acquisition of 200,000 shares at a price of $8.70 per share.
Around $2 Million Bet On This Stock? 4 Penny Stocks Insiders are Buying (Benzinga)
Titan Pharmaceuticals: The Trade: Titan Pharmaceuticals, Inc. (TTNP) 10% owner Activist Investing LLC acquired a total of 2,226,190 shares at an average price of $0.86. To acquire these shares, it cost around $1.92 million. SeaChange International: The Trade: SeaChange International, Inc. (SEAC) 10% owner Karen Singer acquired a total of 201,978 shares at an average price of $0.57. The insider spent around $115.1 thousand to buy those shares.
Former Business Development Executive and Two Friends Charged with Insider Trading (HedgeCo.net)
(HedgeCo.Net) The Securities and Exchange Commission has filed insider trading charges yesterday against Doron A. Tavlin, the former Vice President, Business Development of Mazor Robotics Ltd., and two friends who made more than $500,000 in profits from trading in advance of Mazor’s announcement that it would be acquired by Medtronic plc. According to the SEC’s complaint, filed in federal court in Minnesota, Tavlin tipped his friend Afshin Farahan regarding Mazor’s impending acquisition by Medtronic. The complaint alleges that Farahan used the information to buy Mazor stock and also tipped his friend, David J. Gantman, who purchased Mazor stock and call options in advance of the September 20, 2018 acquisition announcement.
