Aaro Capital Appoints Chairman, Head of Investment Research, and Head of ODD (Hedge Week)
Aaro Capital, a DLT and cryptoassets investment specialist, has made three senior hires in its London office. Stuart Macdonald is joining Aaro Capital’s London-based team as chairman alongside Peter Rigg, who joins as head of investment research, and Olga Romanova, who will serve as the firm’s head of operational due diligence. As chairman, Macdonald is working to set the strategic direction of the firm, as well as focus on capital raising, brand building and product development. He is working closely with Aaro Capital’s CEO Peter Habermacher and CIO Ankush Jain to deliver on Aaro Capital’s aim of opening up the exciting and rapidly evolving DLT and cryptoassets growth story to sophisticated investors.
Bridgewater Doubles Short Wagers in Europe to $10.5 Billion (Bloomberg)
Ray Dalio’s Bridgewater Associates has built a $10.5 billion bet against European companies, almost doubling its wager in the past week to its most bearish stance against the region’s stocks in two years. The world’s biggest hedge fund firm disclosed short bets against 28 companies that include individual wagers of more than $500 million against ASML Holding NV, TotalEnergies SE, Sanofi and SAP SE, according to data compiled by Bloomberg. The total bet is up from $5.7 billion against 18 firms last week, the data shows.
Binance Refutes Giving Failed Hedge Fund Three Arrows Big Credit Line (U.Today)
As reported by Colin Wu’s Twitter handle, Binance has refuted giving a big line of credit to embattled hedge fund Three Arrows Capital, saying several firms have approached the company for bailouts. The most recent victim of the market collapse was Three Arrows Capital, a $10 billion cryptocurrency hedge fund based in Singapore. It was liquidated by many exchanges after failing to meet margin calls amid a collapse in the prices of digital currencies.
Hedge Fund Trader Shah Struck Cum-Ex Trades With DekaBank (Bloomberg Tax)
Hedge-fund trader Sanjay Shah, currently held in Dubai awaiting his extradition to Denmark over a $2 billion Cum-Ex case, apparently struck similar tax deals with Germany’s DekaBank. Shah and the former head of DekaBank’s equity finance desk are said to have collaborated on a variation of the controversial tax deal in which the transaction settlements were purposely delayed, a cooperating witness said in a 2018 interview with German prosecutors seen by Bloomberg.
Thursday 6/23 Insider Buying Report: SVRA, SYY (Nasdaq.com)
At Savara, a filing with the SEC revealed that on Wednesday, Director David A. Ramsay bought 100,000 shares of SVRA, for a cost of $1.38 each, for a total investment of $138,380. So far Ramsay is in the green, up about 8.4% on their purchase based on today’s trading high of $1.50. Savara is trading up about 0.7% on the day Thursday. Before this latest buy, Ramsay purchased SVRA at 8 other times during the past twelve months, for a total cost of $705,212 at an average of $1.16 per share. And on Tuesday, CFO Aaron E. Alt bought $80,090 worth of Sysco, buying 1,000 shares at a cost of $80.09 each. Sysco is trading up about 1.4% on the day Thursday. Bargain hunters have the opportunity to snag SYY at a price even lower than Alt did, with the stock changing hands as low as $79.06 at last check today which is 1.3% below Alt’s purchase price.
Insiders Buy Over $540M Of 2 Stocks (Benzinga)
Day One Biopharmaceuticals: The Trade: Day One Biopharmaceuticals, Inc. (DAWN) Director Michael Gladstone acquired a total of 766,667 shares at an average price of $15.00. To acquire these shares, it cost around $11.5 million. Occidental Petroleum: The Trade: Occidental Petroleum Corporation (OXY) 10% owner Warren E Buffett acquired a total of 9,551,454 shares at an average price of $55.36. To acquire these shares, it cost around $528.79 million.
