Billionaire Investor Howard Marks Says ‘Unrealistic’ Investors Are Getting Desperate (Business Insider)
Howard Marks, the billionaire founder of the hedge fund Oaktree Capital, says investors are taking on uncharacteristic levels of risk as returns dry up. He says traders are also being driven by a fear of missing out, which he calls “one of the more powerful reasons for investor aggressiveness, and also one of the most dangerous.” Howard Marks thinks investors are being pushed to extreme means to make money in this market. In his year-end 2017 memo, the billionaire founder of the hedge fund Oaktree Capital lamented the lack of potential returns across a wide range of asset classes, which he says has traders behaving in uncharacteristic fashion.
Scaramucci Considers Return to SkyBridge, Scraps Vegas SALT Conference in 2018 (Bloomberg)
Anthony Scaramucci said he’d like to have a role again in the future of SkyBridge Capital, the fund-of-hedge-funds firm he founded, and scrapped plans to hold his flagship SALT conference in Las Vegas this year. “If the sale goes through I would like to — and I’ve talked to the HNA people about — retaining some equity in the firm and being active in terms of trying to help the firm’s growth and prosperity,” he said Wednesday on Bloomberg TV from Davos, Switzerland. Scaramucci last year agreed to sell his stake in SkyBridge to a group including an American subsidiary of Chinese conglomerate HNA Group Co.
Alex Oakenman / shutterstock.com
Larry Fink Joins Ray Dalio in Warning Against Sitting in Cash (Bloomberg)
Larry Fink, chief executive officer of BlackRock Inc., is urging investors around the world to stop keeping money in cash as stock markets reach new highs. There’s too much savings on the sidelines of financial markets in countries from the U.S. to China despite the stock market rally, Fink said Thursday at the World Economic Forum. “We don’t talk about the pool of money that is still sitting here,” Fink said during a Bloomberg Television interview in Davos, Switzerland. “Our financial markets are up three times since the financial crisis.” On Wednesday, money manager Ray Dalio also warned investors on holding high levels of cash. Dalio, who founded hedge fund Bridgewater Associates, said the current economic environment is good for stocks but bad for bond investors.
BlueMountain Loses Senior Investment Adviser, Senior Trader (Reuters)
NEW YORK (Reuters) – More executives have departed BlueMountain Capital Management as the hedge fund posted disappointing results last year, two people familiar with the matter said on Wednesday. The latest to leave the $22 billion firm were Derek Smith, a partner and senior investment adviser who has been with BlueMountain since 2008, and Dave Gibbs, a senior credit trader at the firm since October 2004. Both left in December. “Like any company, BlueMountain undergoes changes in the make-up of its team that reflect the needs of investors and market dynamics,” a spokesman said in an emailed statement on Wednesday. “The result is that the firm remains nimble, responsive and well-positioned to continue to thrive,” he added.
Billionaire Steven Cohen Ramps Up GOP Donations Amid Hedge Fund Comeback (Fox Business)
The inner circle of Republican mega donors now includes a prominent hedge fund manager who has been known to shy away from publicity, preferring instead to sprinkle his donations among both Democrats and Republicans. Billionaire hedge fund manager Steven Cohen, who after years of toiling with the government during its crackdown on insider trading, is on the verge of making a big splash and return to public fund business, while shoveling wads of cash into PACs controlled by the Republican Party, according to campaign finance records reviewed by FOX Business.
Sears CEO Was a Successful Investor Before the Chain’s Woes Consumed Him (TheStreet)
Long before he got involved with troubled Sears Holdings Corp. (SHLD – Get Report) , company CEO Eddie Lampert was an activist hedge-fund manager — agitating privately (and successfully) for changes at targeted companies. “He was basically an activist relational investor who sometimes got directors on boards,” said Charles Elson, director of the Center for Corporate Governance at the University of Delaware. “His goals were [to] invest — push for change in organizations — and that’s how he made his money.”
Insider Buying: Tabula Rasa HealthCare Inc (TRHC) CFO Acquires 5,391 Shares of Stock (TrueBlueTribune)
Tabula Rasa HealthCare Inc (NASDAQ:TRHC) CFO Brian W. Adams bought 5,391 shares of Tabula Rasa HealthCare stock in a transaction that occurred on Friday, January 12th. The shares were acquired at an average cost of $14.23 per share, for a total transaction of $76,713.93. The purchase was disclosed in a filing with the SEC.
Insider Buying: China Fund Inc (CHN) Major Shareholder Purchases 13,008 Shares of Stock (StockNewsTimes)
China Fund Inc (NYSE:CHN) major shareholder City Of London Investment Grou acquired 13,008 shares of the stock in a transaction dated Tuesday, January 16th. The stock was bought at an average price of $23.06 per share, with a total value of $299,964.48. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Insider Buying: Intrexon Corp (XON) CEO Purchases $12,500,000.00 in Stock (WeekHerald)
Intrexon Corp (NYSE:XON) CEO Randal J. Kirk acquired 1,000,000 shares of the business’s stock in a transaction on Friday, January 19th. The stock was acquired at an average price of $12.50 per share, with a total value of $12,500,000.00. The purchase was disclosed in a legal filing with the SEC. Shares of Intrexon Corp (NYSE XON) opened at $13.93 on Thursday.
Insider Selling: Square Inc (SQ) CFO Sells $1,592,064.00 in Stock (DispatchTribunal)
Square Inc (NYSE:SQ) CFO Sarah Friar sold 38,400 shares of Square stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $41.46, for a total value of $1,592,064.00. Following the completion of the sale, the chief financial officer now directly owns 349,123 shares in the company, valued at $14,474,639.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission.
Insider Selling: Zendesk Inc (ZEN) SVP Sells 5,000 Shares of Stock (TheLincolnianOnline)
Zendesk Inc (NYSE:ZEN) SVP John Geschke sold 5,000 shares of the stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $37.15, for a total transaction of $185,750.00. Following the completion of the transaction, the senior vice president now owns 16,795 shares in the company, valued at approximately $623,934.25. The sale was disclosed in a filing with the SEC.
