When Elliott Talks, Masayoshi Son and SoftBank Listen (Bloomberg)
Activist investing is hard work, even for tenacious veterans like Elliott Management Corp. The very mention of its name sends shivers up the spines of corporate fat cats. Yet, until recently, the U.S.-based hedge fund hasn’t been able to scare up much success in Asia. Elliott has been in the region for years, picking battles with Korean chaebols and Hong Kong billionaire tycoons. But its track record is mixed at best. In 2015, Elliott lost a proxy fight with Samsung Group’s founding Lee family over an $8 billion merger deal. Three years later, the hedge fund sued South Korea for at least $770 million in damages over that deal. This year, it exited its positions in Hyundai Motor Co with a loss.
Month in Review – November 2020 (Hedge Nordic)
Stockholm (HedgeNordic) – Nordic hedge funds notched their best month on record in November, narrowly beating its previous record of 3.6 percent reached in April this year. Nordic hedge funds, as measured by the Nordic Hedge Index, advanced 3.7 percent last month (91 percent reported) to take the year-to-date performance to 5.7 percent. The industry is on pace to register its strongest yearly performance since 2013.
Friday 12/11 Insider Buying Report: ARDX, BCAT (Nasdaq.com)
At Ardelyx, a filing with the SEC revealed that on Thursday, Director David M. Mott bought 170,000 shares of ARDX, for a cost of $5.89 each, for a total investment of $1.00M. So far Mott is in the green, up about 24.0% on their purchase based on today’s trading high of $7.30. Ardelyx is trading up about 13.9% on the day Friday. Before this latest buy, Mott bought ARDX at 2 other times during the past twelve months, for a total cost of $997,427 at an average of $6.85 per share.
Broadcom Inc (AVGO) President and CEO Hock E Tan Sold $33 million of Shares (Guru Focus)
President and CEO of Broadcom Inc, Hock E Tan, sold 78,125 shares of AVGO on 12/08/2020 at an average price of $422.43 a share. The total sale was $33 million. Broadcom Inc is engaged in designing, developing and supplying analog and digital semiconductor connectivity solutions. Its product portfolio serves wired infrastructure, wireless communications, enterprise storage and industrial and other end markets.
The Senior Officer of Artis Real Estate Investment (Other OTC: ARESF) is Buying Shares (Analyst Ratings)
Today, the Senior Officer of Artis Real Estate Investment (ARESF), Renzo Barazzuol, bought shares of ARESF for $3.4M. This recent transaction increases Renzo Barazzuol’s holding in the company by 9% to a total of $29.66 million. In addition to Renzo Barazzuol, 6 other ARESF executives reported Buy trades in the last month. The company has a one-year high of $10.09 and a one-year low of $3.84. ARESF’s market cap is $1.14 billion and the company has a P/E ratio of 136.50.
Avoiding Insider Trading on Auto-Pilot (Advisor.ca)
The Canadian Securities Administrators (CSA) have issued new guidance on setting up, operating and disclosing automatic securities disposition plans (ASDPs). Last year, the CSA launched a review of ASDPs, citing concerns about corporate insiders possibly using the plans to trade on inside information. The CSA initiative followed a review by the Autorité des marchés financiers (AMF) of the ASDP adopted by Bombardier Inc. in 2018.
