Naked Wines Surges After Hedge Fund Pitch on CNBC (Seeking Alpha)
Naked Wines PLC (OTCQX:NWINF) jumped 100% after Light Street‘s Glen Kacher pitched the wine company on CNBC. Kacher, who pitched the idea at a Sohn Investment conference in San Francisco yesterday, said the stock has the potential to quadruple in the next few years.
Oil Giant Shell Misses on Third-Quarter Profit as Dan Loeb Calls for the Company to Break Up (CNBC)
LONDON — Oil giant Royal Dutch Shell on Thursday reported weaker-than-expected third-quarter earnings as New York-based hedge fund Third Point called on the energy major to break up. Shell also announced it had set itself a bigger carbon reduction target. The Anglo-Dutch company posted adjusted earnings of $4.1 billion for the three months through to the end of September. That compared with $955 million over the same period a year earlier and $5.5 billion for the second quarter of 2021.
Hedge Fund Manager Set Up Irish Fund to Carry Out Cum-ex Scheme (The Irish Times)
A Dubai-based hedge fund manager set up a fund in Ireland to claim tens of millions of euro in tax refunds from European authorities in trades now under investigation for suspected tax evasion. The trades were part of a scheme known as cum-ex, which allowed a network of traders, hedge funds, asset managers and banks to claim multiple refunds on dividend withholding tax that was only paid once, or not at all, through a series of complex financial transactions.
Phongphan/Shutterstock.com
Billion-Dollar Quant Hedge Fund Invests $2.6 Billion in Crypto (Micky)
GSA Capital, the $2.6 billion quant hedge fund, joins Steve Cohen, and Alan Howard in a bid to profit from the market’s well-known volatility and inefficiencies. That is, assuming Chris Taylor, an American football player, and his fellow fast-money speculators survive the next crash unscathed. The 16-year-old fund employs the same systematic trading techniques that enabled it to profit in the traditional stock, derivatives, and currency markets. Taylor stated that the General Services Administration (GSA) began trading crypto assets formally in August.
Hedge Fund Performance Monitor: September 2021 (Preqin)
After a strong August, hedge funds performed poorly in September. The Preqin All-Strategies Hedge Fund benchmark dropped 1.20% to wipe out most of the gains it recorded the previous month. Read our Performance Monitor for a look at how equity, credit, macro, and niche hedge fund strategies performed in August. The Monitor presents hedge fund performance benchmarks, plus the YTD and 12-month return figures for all top-level strategies, structures, denominations, and size classifications.
Value-Focused US Long/Short Manager Invenomic Launches UCITS Strategy (Hedge Week)
Boston-headquartered Invenomic Capital Management has launched a new UCITS version of its US-focused long/short equities strategy. The Invenomic US Equity Long/Short UCITS Fund rolled out last month on fund structuring and governance service provider Waystone’s MontLake UCITS Platform ICAV. The strategy launched with USD35 million in assets, with a steady pipeline ramping up to USD100 million. The strategy, which replicates Invenomic’s existing offshore fund, invests in a diverse range of market caps in US equities, trading long and short with a fundamental approach to stock-picking and a strong value bias, using quantitative analysis.
BlackRock’s Hedge Fund Star Gets Paid More Than CEO Larry Fink (Bloomberg)
Meet Alister Hibbert, one of BlackRock Inc.’s best kept secrets. He’s the money manager whose hedge fund has enriched the firm, its clients and himself with a near 370% gain over the past decade. Hibbert’s name is rarely mentioned within the walls of the world’s largest asset management firm, and many employees don’t even know who he is. That’s even after his fund single-handedly earned almost half of BlackRock’s record performance fees last year, according to Bloomberg calculations.
Muddy Waters’ Carson Block Says Wall Street Is ‘Thoroughly Compromised by China Money’ (Institutional Investor)
When the House Financial Services Subcommittee on Capital Markets met on Tuesday for a hearing on Chinese companies listing on U.S. exchanges, some of the most knowledgeable witnesses abruptly canceled their appearances, Rep. Brad Sherman said in his opening statement. “Their decision to pull out of this hearing speaks loudly to China’s strong power over politics and economics here in the U.S.,” the California Democrat said during the hearing, entitled “Taking Stock of ‘China, Inc.’: Examining Risks to Investors and the U.S. Posed by Foreign Issuers in U.S. Markets.”
Daring Foods Raises $65 Million (Food Business News)
LOS ANGELES — Daring Foods, a maker of plant-based chicken analogs, raised $65 million in a Series C funding round led by Founders Fund, with participation from existing investor D1 Capital Group. New investors including professional tennis player Naomi Osaka, record producer Steve Aoki, hedge fund manager Chase Coleman and professional football player Cameron Newton also participated in the round, which brings Daring’s total funding to more than $120 million. The new funding follows a $40 million Series B round in May and an $8 million Series A round last October.
Wednesday 10/27 Insider Buying Report: SDIG, EPAC (Nasdaq.com)
On Friday, Stronghold Digital Mining’s Director, Thomas Pacchia, made a $49,989 buy of SDIG, purchasing 2,631 shares at a cost of $19.00 a piece. So far Pacchia is in the green, up about 44.5% on their buy based on today’s trading high of $27.45. Stronghold Digital Mining is trading off about 1.4% on the day Wednesday. And at Enerpac Tool Group, there was insider buying on Tuesday, by Richard D. Holder who bought 2,000 shares for a cost of $20.30 each, for a trade totaling $40,605. Enerpac Tool Group is trading up about 2.1% on the day Wednesday.
Riley Exploration Permian Insider Makes $2.6M Stock Purchase (Benzinga)
Gerald Alvin Libin, 10% Owner at Riley Exploration Permian (AMEX:REPX), made a large insider buy on October 27, according to a new SEC filing. What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission on Wednesday showed that Libin purchased 100,482 shares of Riley Exploration Permian at at a price of $26.00. The total transaction amounted to $2,612,532.
The General Manager Mfg. Ops. of Vicor (NASDAQ: VICR) is Selling Shares (Analyst Ratings)
Today, the General Manager Mfg. Ops. of Vicor (VICR), Michael Mcnamara, sold shares of VICR for $2.08M. Following Michael Mcnamara’s last VICR Sell transaction on August 06, 2021, the stock climbed by 27.9%. In addition to Michael Mcnamara, 2 other VICR executives reported Sell trades in the last month. Based on Vicor’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $84.91 million and quarterly net profit of $13.26 million.
