Warren Buffett Warned 18 Years Ago about the Financial Instruments that Triggered the Archegos Implosion (Business Insider)
Archegos’ use of financial derivatives helped it increase its leverage that triggered a $20 billion liquidation and rattled financial markets last week. In 2002, Warren Buffett described derivatives as “financial weapons of mass destruction.” Buffett said that derivatives were expanding “unchecked” and that governments had no way to control or monitor the extreme risks posed by them.
Vision Ridge Partners Raises $1.3bn for Latest Sustainable Real Assets Fund (Opalesque)
The alternative asset manager focused on sustainable real assets Vision Ridge Partners closed its latest sustainable real assets fund, Sustainable Asset Fund III, at its $1.25 billion hard cap. “The Fund held its final close just four-and-a-half months after commencing fundraising. Fund III initially targeted $1bn of commitments and drew interest beyond the $1.25bn hard cap,” said a press release from the venture capital firm. The fund aims to make 8 to 12 investments of $75 million to $175 million in companies in industries that are shifting to sustainability, including energy, transportation, and agriculture, it said.
Hedge Funds Back Day Traders’ Bet on Hertz. It’s ‘In the Money’ (The Wall Street Journal)
The day traders who bet on Hertz Global Holdings Inc. despite its bankruptcy last year were on to something, according to hedge-fund shareholders making a play to back the rental-car company’s exit from chapter 11. Hertz stockholders including Glenview Capital Management LLC and Discovery Capital Management have formed a shareholder committee in the chapter 11 case and hope to fashion a restructuring that will lift Hertz out of bankruptcy, their lawyer Andrew Glenn said in an interview.
Brooklyn Man Used Bloomberg Reporter’s Info for Insider Trading Scheme: Feds (Amny)
A Brooklyn man indicted for an insider trading scheme used information from a Bloomberg News reporter about certain deals to trade, according to a review of the charging documents, in a case that comes as the volume of leaked information about mergers and acquisitions is rising. On March 23, a federal grand jury indicted 38 year-old Jason Peltz for trading on “material nonpublic information” obtained from a company insider and a financial reporter.
Facebook Inc (FB) COB and CEO Mark Zuckerberg Sold $16.3 million of Shares (Guru Focus)
COB and CEO of Facebook Inc, Mark Zuckerberg, sold 56,250 shares of FB on 03/29/2021 at an average price of $288.97 a share. The total sale was $16.3 million. Facebook Inc is the world’s largest online social network. Its products are Facebook, Instagram, Messenger, WhatsApp, and Oculus. Its products enable people to connect and share through mobile devices and personal computers.
The Chairman of Globaltrans Investment GDR RegS (Other OTC: GLTVF) is Selling Shares (Analyst Ratings)
Today, the Chairman of Globaltrans Investment GDR RegS (GLTVF), Sergey Maltsev, sold shares of GLTVF for $11.27M. GLTVF’s market cap is $1.2 billion and the company has a P/E ratio of 7.20. The company has a one-year high of $6.87 and a one-year low of $5.00. Currently, Globaltrans Investment GDR RegS has an average volume of .
