Ray Dalio Says the Workplace is Never Going Back to the Same Way it was Pre-Covid (CNBC)
Billionaire investor Ray Dalio believes the workplace will never return to pre-pandemic conditions as flexibility and technology became the major driving forces in the new world. “The future of the workplace is going to be characterized by probably two things — customization and technology. We’ve been given a gift to be able to rethink what we are doing,” Dalio said Wednesday at CNBC’s @Work Summit. “I don’t think we are going to go back to the old world.”
Jeff Ubben and Singapore’s GIC Back $830 Million Fertiglobe IPO (Bloomberg)
Abu Dhabi and OCI NV are selling a stake worth as much as $830 million in their Middle Eastern fertilizer venture to buyers including a Singapore sovereign wealth fund and U.S. activist investor Jeff Ubben. OCI and Abu Dhabi National Oil Co. are offering 13.8% of Fertiglobe Holding in an initial public offering that comes as the business booms, thanks in part to a natural-gas shortage hurting rivals in Europe. The firm will be valued at $6 billion at the top end of the price range.
Viking Global Alums are on a Red-Hot Launch Streak. Here’s How ‘Entrepreneurial DNA,’ Deep Pockets, and Top-Tier Training Created the Perfect Breeding Ground for the Next Generation of Hedge-Fund Superstars (Business Insider)
It’s the age-old problem for entrepreneurial traders looking to launch their own funds: You can’t build a track record without money, but it’s hard to raise money without a track record. Yet managers coming out of Andreas Halvorsen‘s $60 billion hedge fund, Viking Global, seem to be handling it just fine. Since Dan Sundheim‘s massively successful launch of D1 Capital in 2018, there have been six more spinoffs from Viking that have collectively raised billions — and at least one more is in the works.
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Barnard College Partners with Bridgewater Associates to Encourage More Women to Join the Investment Industry (PR Newswire)
NEW YORK, Oct. 12, 2021 /PRNewswire/ — Barnard College announced today that the investment management firm Bridgewater Associates has funded a grant to launch the “New Pathways Powered by Bridgewater” initiative, which will unfold over six years and provide financial support for young women pursuing academic study in economics, math, statistics, and computer science, with the goal of encouraging more women to enter the investment industry through time. To realize this goal, Barnard will recruit “New Pathways Bridgewater Scholars” and will partner with Bridgewater to provide the training, exposure, and opportunities required to become workforce leaders in critical sectors of the labor market where women are underrepresented. This initiative will reflect the diversity of the Barnard student body, which is currently 41% students of color.
Man Group’s Funds Under Management Reach New High in Q3 (Hedge Week)
Man Group’s funds under management reached a new high of USD139.5 billion during the third quarter, fueled by positive inflows and strong investment performance, with its hedge fund and alternative strategies driving growth. The London-based publicly-traded investment management giant – often considered a bellwether for the wider UK hedge fund industry – attracted net inflows of USD5.3 billion and positive investment returns of USD400 million, which outweighed negative FX and other impacts of USD1.5 billion stemming from a stronger US dollar particularly sterling and the euro.
Preqin Picks: Capstone Partners: ESG Trends & Considerations (Preqin)
In the wake of COVID-19, LPs are increasingly viewing ESG as a value driver, rather than merely a risk management tool. As a result, many LPs now maintain active contact with GPs to monitor the implementation of ESG policies. Capstone surveyed 140 global LPs for its 2021 report ESG Trends & Considerations to determine their attitudes to, and priorities regarding, ESG. It found that a material proportion of LPs (27% globally) were willing to trade lower performance for excellent ESG credentials.
Hedge Funds Down 0.33% in September (Opalesque)
Opalesque Industry Update – The Eurekahedge Hedge Fund Index was down 0.33% in September 2021, outperforming the global equity market as represented by the MSCI ACWI (Local) which returned -3.55% over the same period. Concerns over rising inflation continue to weigh on markets with the Federal Reserve raising its inflation forecast for the year to 4.2%, up from the previous estimate of 3.4%, driven by supply chain bottlenecks and the developing energy crisis in Europe and China which has pushed energy prices up by 11.60% in September.
India’s Biggest Hedge Fund Projects a 15-20% Market Correction in 6 Months (The Economic Times)
MUMBAI: The buoyant domestic equity market may be in for its first rude awakening by the time the country rings in the New Year after a stupendous rally in the previous 18 months. The country’s biggest hedge fund manager Avendus Capital Public Markets’ Alternate Strategies is expecting the benchmark indices to witness their first ever correction of the current bull market as their quantitative models hint at a possible 15-20 per cent drawdown in the next six months. A technical correction is when a security falls more than 10 per cent from recent highs.
The Simply Good Foods Co (SMPL) CEO and President Joseph Scalzo Sold $3.1 million of Shares (Guru Focus)
CEO and President of The Simply Good Foods Co, Joseph Scalzo, sold 87,769 shares of SMPL on 10/12/2021 at an average price of $35.7 a share. The total sale was $3.1 million.
Notable Magnolia Oil & Gas Insider Trades $92M In Company Stock (Benzinga)
John B Walker, Director at Magnolia Oil & Gas (NYSE:MGY), made a large buy and sell of company shares on October 7, according to a new SEC filing. What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission states that John B Walker exercised options to purchase 3,622,962 Magnolia Oil & Gas shares for $0 on October 7. They then sold their shares on the same day in the open market. They sold at a price of $18.50 to raise a total of $92,500,000 from the stock sale.
The President of Southern Empire Resources (Other OTC: SMPEF) is Buying Shares (Analyst Ratings)
Today, the President of Southern Empire Resources (SMPEF), Dale Wallster, bought shares of SMPEF for $13K. This recent transaction increases Dale Wallster’s holding in the company by 3% to a total of $410.8K. Currently, Southern Empire Resources has an average volume of . The company has a one-year high of $0.49 and a one-year low of $0.11. Dale Wallster’s trades have generated a -34.8% average return based on past transactions.
