Hedge Fund Strategies Show Moderate Performance in June, Says EDHEC-Risk (Hedge Week)
The month of June was characterised by a positive trend on the stock markets, with the S&P 500 registering a rather strong performance (2.33 per cent), its fifth consecutive month of profits, leading to 15 per cent cumulative increase since the beginning of the year. Market implied volatility decreased, for the fourth consecutive month, to 15.83 per cent, returning to the levels observed in 2019, before the coronavirus crisis. This value is also much lower than its long-term average performance (around 21 per cent). On the bond market, a mixed situation prevailed as regular bonds posted negative return (-0.30 per cent), while convertible bonds posted positive return (1.60 per cent), the reverse of the situation observed last month. Concerning commodities market, the GSCI Commodity Spot index registered a positive return (3.23 per cent) for the third consecutive month, reaching its highest level in over more than six years.
Teng Yue, the Hedge Fund Founded by Bill Hwang’s Protege, Gets Pummeled by China’s Crackdown on Education Companies (Institutional Investor)
China’s crackdown on education companies is the latest bad news for Teng Yue Partners, the hedge fund founded by Bill Hwang protege Tao Li. Hwang, a Tiger cub, was head of Archegos Capital Management, the family office that imploded in late March. Teng Yue fell 21 percent in July and is now down 30 percent for the year, according to an investor.
Apollo Billionaire Leon Black Tried To Make Russian Model Have Sex With Jeffrey Epstein, Court Filing Claims (Forbes)
A former Russian model accusing private equity giant Leon Black of rape and harassment is now claiming the billionaire once flew her to Florida against her will to “satisfy the sex needs” of disgraced financier and longtime friend Jeffrey Epstein, an escalation of the allegations against the Apollo Global Management cofounder, who previously claimed he knew nothing of Epstein’s criminal behavior (Black’s attorney quickly denied the new allegations, too).
Tuesday 8/10 Insider Buying Report: POR, CVS (Nasdaq.com)
At Portland General Electric, a filing with the SEC revealed that on Thursday, James P. Torgerson bought 5,000 shares of POR, for a cost of $49.79 each, for a total investment of $248,950. Portland General Electric is trading off about 0.8% on the day Tuesday. And at CVS Health, there was insider buying on Thursday, by Director Edward J. Ludwig who purchased 3,000 shares for a cost of $79.55 each, for a trade totaling $238,635. Before this latest buy, Ludwig made one other purchase in the past twelve months, buying $216,000 shares at a cost of $72.00 each. CVS Health is trading down about 0.2% on the day Tuesday. Ludwig was up about 2.8% on the buy at the high point of today’s trading session, with CVS trading as high as $81.81 in trading on Tuesday.
The EVP, Chief Admin Officer of Albemarle (NYSE: ALB) is Selling Shares (Analyst Ratings)
Yesterday, the EVP, Chief Admin Officer of Albemarle (ALB), Karen Narwold, sold shares of ALB for $2.16M. Following Karen Narwold’s last ALB Sell transaction on May 28, 2021, the stock climbed by 60.0%. Based on Albemarle’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $774 million and quarterly net profit of $425 million. In comparison, last year the company earned revenue of $764 million and had a net profit of $85.62 million. The company has a one-year high of $227.39 and a one-year low of $79.06. ALB’s market cap is $26.51 billion and the company has a P/E ratio of 36.70.
Mongodb Inc (MDB) President & CEO Dev Ittycheria Sold $12.9 million of Shares (Guru Focus)
President & CEO of Mongodb Inc, Dev Ittycheria, sold 35,000 shares of MDB on 08/05/2021 at an average price of $369.52 a share. The total sale was $12.9 million.
