The Hedge Fund Manager Who Didn’t Plan On Managing A Hedge Fund (Forbes)
Unlike some hedge fund managers, Corsair Capital founder Jay Petschek didn’t plan on being a fund manager. He wasn’t particularly focused on a specific career path when he was growing up but he did know he liked all sports, solving puzzles, strategy games, and he was always very good at numbers.
BUSINESS LIVE: FTSE 100 Rises Back Towards November High; Stagecoach Profits Grow; TUI Revenue Rebounds; SSE Rocked by Hedge Gund Broadside (ThisIsMoney.co.uk)
Hedge fund Elliott Management has launched a blistering attack on SSE and called for sweeping changes at the renewable energy giant. The New York-based activist, run by feared financier Paul Singer, demanded the company appoint two new board directors and reconsider splitting the firm in two. A rebound in market sentiment continued on Wednesday, with shares set for their biggest two-day jump since November last year as investors became less concerned about the Omicron variant.
Hedge Fund Northlander Surges 116% in 2021 Boosted by Carbon Bet (Bloomberg)
Northlander Commodity Advisors LLP’s flagship hedge fund gained more than 116% this year, driven by bets on the soaring price of European Union carbon emission permits. The fund advanced almost 13% in November, helping push it to its best year since launching in 2012, according to a letter to investors seen by Bloomberg News. Northlander’s assets under management were about $340 million at the start of December.
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A Billionaire Hedge Fund Manager is Surrendering $70 Million Worth of Illegally Smuggled Antiquities. See Photos of the Relics, Including a Sculpture that was Loaned to the Met. (Business Insider)
Billionaire hedge fund manager Michael Steinhardt must return a collection of 180 stolen antiquities. The items are valued at $70 million and smuggled out of 11 countries by 12 criminal networks. A global team of 60 investigators worked the case for four years, and Steinhardt will not face charges.
Firm Once Owned by ‘Pharma Bro’ to Pay $40M in Price-Gouging Settlement (UPI.com)
Dec. 8 (UPI) — A company once owned by hedge fund manager Martin Shkreli, a young investor who became known as “pharma bro,” has agreed to pay $40 million to settle charges that it ran up the cost for a potentially life-saving medication after acquiring the rights to it. The Federal Trade Commission said Vyera Pharmaceuticals agreed to the deal to settle price-gouging charges.
Falcon Edge Has a New Name (Institutional Investor)
The hedge fund firm is remaking itself as more of a venture capital specialist. Falcon Edge Capital has changed its name to Alpha Wave Global, effective November 24, according to a regulatory filing.The firm, which did not disclose why it made this move, declined to comment. But it has told clients that it made the change to better reflect the firm’s breadth and depth,…
Professional Investors Set Up in-House Teams to Monitor Crypto and Digital Assets Markets, Says Digital Assets Hedge Fund Manager Nickel (Hedge Week)
A new study of institutional investors and wealth managers, who collectively manage around USD108.4 billion in assets, reveals 85 per cent now have dedicated teams reviewing cryptocurrencies and digital assets. The research, which was commissioned by London-based Nickel Digital Asset Management (Nickel), a European digital assets hedge fund manager founded by senior traders and investment professionals formerly from major financial institutions including Goldman Sachs and JPMorgan, reveals 21 per cent of these teams have only been running for the past three months, and 42 per cent were established between three and six months ago. Around 31 per cent were established between six months and a year ago while just 5 per cent have been operating for over a year.
Ray Dalio Explains How His Greatest Investing Innovation Helps Portfolios Thrive Over the Long Term and Why Bitcoin could be the Equivalent of Gold for a New Generation of Traders (Business Insider)
Ray Dalio runs the biggest hedge fund in the world, and by some estimates he’s made more money for clients than anyone else in the business. But he says he was thinking only about his family’s financial future when he came up with the approach that might define his legacy. “I did it personally for my family, when I started to have enough money,” he told Insider in an exclusive interview. “I said, ‘I want an approach that, when I’m dead and gone, it’ll be timeless and universal, and it will be balanced.'”
The EC of Curtiss-Wright (NYSE: CW) is Selling Shares (Analyst Ratings)
Yesterday, the EC of Curtiss-Wright (CW), David Charles Adams, sold shares of CW for $1.4M. Following David Charles Adams’ last CW Sell transaction on March 17, 2021, the stock climbed by 11.2%. Based on Curtiss-Wright’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $621 million and quarterly net profit of $69.7 million.
Wednesday 12/8 Insider Buying Report: DOCU, MMC (Nasdaq.com)
On Tuesday, DocuSign’s CEO, Daniel D. Springer, made a $4.85M purchase of DOCU, buying 33,675 shares at a cost of $143.95 a piece. DocuSign is trading up about 5% on the day Wednesday. And at Marsh & McLennan Companies, there was insider buying on Friday, by Director Marc D. Oken who bought 5,000 shares at a cost of $167.46 each, for a total investment of $837,290. Marsh & McLennan Companies is trading up about 0.7% on the day Wednesday. So far Oken is in the green, up about 4.4% on their purchase based on today’s trading high of $174.90.
Intelsat’s Spengler Denies Aiding Insider Trading (Advanced-Television.com)
Steve Spengler, Intelsat’s CEO, firmly denies being the conduit for any alleged insider trading information over the sale of Intelsat stock by certain shareholders and the company’s chairman Dave McGlade. It has been alleged that two major investors, and Intelsat’s chairman Dave McGlade, sold in total some $260 million (€230m) of Intelsat stock ahead of a collapse in Intelsat’s share price.
Docusign Inc (DOCU) President and CEO Daniel D. Springer Bought $4.8 million of Shares (Guru Focus)
President and CEO of Docusign Inc, Daniel D. Springer, bought 33,675 shares of DOCU on 12/07/2021 at an average price of $143.95 a share. The total cost of this purchase was $4.8 million.
The CEO & President of Euronet Worldwide (NASDAQ: EEFT) is Buying Shares (Analyst Ratings)
Yesterday, the CEO & President of Euronet Worldwide (EEFT), Michael J Brown, bought shares of EEFT for $1.65M. Following this transaction Michael J Brown’s holding in the company was increased by 5.38% to a total of $222 million. In addition to Michael J Brown, 2 other EEFT executives reported Buy trades in the last month. Based on Euronet Worldwide’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $817 million and quarterly net profit of $73.88 million.
