Most Descendants of Tiger Management Are Far From Recovering Their High Water Marks (Institutional Investor)
Several of the best performers in 2023 are also the funds that suffered the biggest losses over the past couple of years. Most of the major Tiger-related hedge funds in August continued to tack on another point or two to their long-short performance. That’s not bad considering the major market averages lost money last month. Of course, the funds’ investors remain well below their high water marks.
Brevan Howard Sees Outsized Returns From Digital Assets (Bloomberg)
Brevan Howard Asset Management is predicting a potential boom in digital assets similar to what the internet has seen in the past couple of decades and is looking to make “disproportionate returns.” Though there are a lot of challenges, blockchain and crypto are transformational technologies whose full potential has yet to be tapped, Gautam Sharma, chief executive officer of the digital investment unit of the hedge fund firm, said in Germany.
Ridge Capital’s Flexibility in the Nordic High-Yield Market (Hedge Nordic)
Stockholm (HedgeNordic) – The Nordic high-yield market, characterized by lower liquidity, limited transparency, a higher prevalence of smaller issuers, and a predominantly floating-rate structure in contrast to its European and American counterparts, has consistently commanded a credit premium of approximately 200 basis points. Recognizing these particular characteristics – which also present challenges – Christoffer Malmström and Måns Levin designed a specific strategy within a more alternative and flexible structure to seize opportunities in the Nordic high-yield corporate bond market.
Thursday 9/14 Insider Buying Report: SMLR, MEG (Nasdaq.com)
On Wednesday, Semler Scientific’s Director, Eric Semler, made a $2.15M purchase of SMLR, buying 77,771 shares at a cost of $27.61 each. So far Semler is in the green, up about 8.4% on their purchase based on today’s trading high of $29.94. Semler Scientific is trading up about 6.4% on the day Thursday. This purchase marks the first one filed by Semler in the past twelve months. And at Montrose Environmental Group, there was insider buying on Tuesday, by Director de Castro Jose Miguel Fernandez who purchased 10,000 shares for a cost of $32.94 each, for a total investment of $329,440. This buy marks the first one filed by Fernandez in the past twelve months. Montrose Environmental Group is trading up about 7.6% on the day Thursday. So far Fernandez is in the green, up about 5.3% on their purchase based on today’s trading high of $34.68.
QUALCOMM, McKesson And 2 Other Stocks Insiders Are Selling (Benzinga)
MongoDB: The Trade: MongoDB Inc. (MDB) Chief Revenue Officer Cedric Pech sold a total of 16,143 shares at an average price of $378.86. The insider received around $6.12 million from selling those shares. McKesson: The Trade: McKesson Corporation (MCK) CEO Brian Tyler sold a total of 25,246 shares at an average price of $422.58. The insider received around $10.67 million from selling those shares. QUALCOMM: The Trade: QUALCOMM Incorporated (QCOM) Chief Commercial Officer James J Cathey sold a total of 1,000 shares at an average price of $111.27. The insider received around $111,270 from selling those shares.
Tom Steyer Launches New $1 Billion Climate Investment Fund (Bloomberg)
Climate tech investments have dipped this year, but a new fund with more than $1 billion to spend is entering the sector. Galvanize Climate Solutions announced Thursday that it closed its Innovation + Expansion Fund, which will invest in startups aiming to provide climate benefits in the next decade. In doing so, the fund is looking for companies that can make a relatively immediate impact rather than asking if something is “going to work in the lab,” said Tom Steyer, Galvanize’s co-executive chair.
