Citadel’s Griffin Tells NYC Mayor That Crime Is No. 1 Priority (Bloomberg)
Citadel’s Ken Griffin told New York City Mayor Eric Adams and other business leaders that public safety is the top priority, and that the city can’t be attractive to companies if crime is an issue. New York has the highest density of financial talent in the world, including more than 1,500 Citadel employees, but crime trumps everything, Griffin said, according to people at Thursday’s roundtable meeting, which was closed to the media.
Disney Stock Gains After Activist Hedge Fund Challenge (The Wall Street Journal)
Activist investor Nelson Peltz is launching a proxy fight for a seat on Disney’s board. Shareholders seem happy about the development. The stock was up nearly 2% shortly after markets opened on Thursday, making Disney the best performer in the Dow Jones Industrial Average. That’s a welcome change from 2022, when Disney shares endured their worst year since 1974.
Tory Donor’s £82m Earnings Surpass Hedge Fund Rivals in Difficult Year (The Guardian)
The billionaire Tory donor Alan Howard – who hired Lady Gaga sing at his Italian wedding last year – collected £82m in annual pay from his hedge fund. Brevan Howard Asset Management LLP paid Howard, who co-founded the fund in 2002, a total £82,038,938 in pay in the year to the end of March 2022 according to accounts filed at Companies House on Wednesday.
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Virgin Orbit Crashed in the UK – Here’s Why This Hedge Fund is Shorting Its Sister Firm (Financial News)
A Philadelphia-based hedge fund is betting against Sir Richard Branson’s spaceflight company Virgin Galactic, as shares in sister firm Virgin Orbit fall on the back of a failed launch attempt. After booking 35% profits on a long Twitter bet in October 2022, Bireme Capital expanded its short book to end the year with 36% in gains. Virgin Galactic is now another target.
Hedge Fund Two Sigma Keeping 265K-SF 100 Avenue of the Americas Offices (Commercial Observer)
After toying with the idea of leaving its two-building mini-campus in Tribeca, hedge fund Two Sigma Investments decided to stay put, Commercial Observer has learned. Two Sigma signed a renewal to keep its 265,000-square-foot offices at 100 Avenue of the Americas for another seven years, according to a source with knowledge of the deal. Asking rent was in the mid-$80s per square foot.
ValueAct Launches a New Japan Fund (Institutional Investor)
The activist firm has had a sizable exposure to the country since 2017. ValueAct Capital Management launched a new hedge fund this month. The activist hedge fund firm has raised an undisclosed amount of capital for ValueAct Japan Master Fund, which specializes in investments in the firm’s Japan strategy, according to a letter sent to clients and…
2022 in Review: The Good and the Bad (Hedge Nordic)
Stockholm (HedgeNordic) – On the surface, 2022 can be considered one of the worst years for Nordic hedge funds since 2008. After three consecutive years of solid performance, Nordic hedge funds fell 6.1 percent in 2022, the industry’s worst year since 2008. Looking beneath the surface, there were many positives to take from the challenging 2022. The Good: One in Three Hedge Funds Enjoyed Gains: Although the Nordic Hedge Index ended 2022 in negative territoryby 6.1 percent, about one in every three constituents (31.2 percent) delivered positive returns for their investors. This group gained about 11 percent on average in 2022. About 68 percent of constituents outperformed the 11.5 percent loss one would have incurred by holding Swedish government bonds.
Mike Novogratz Wants to Punch Disgraced Crypto Titans in the Face (Bloomberg)
The Galaxy Digital founder, down $3 billion, is looking to sort through the wreckage of an industry that’s supposed to be his big shot at redemption. Michael Novogratz wants to get something straight: It’s not his fault you lost money on crypto. OK, sure: Bitcoin is headed to $500,000, he predicted this time last year. Luna? To the moon. He got a howling wolf tattooed on his shoulder and, for kicks, tweeted out a selfie.
Dream Holdings Hedge Fund Announces Big Year in 2022 (Benzinga)
Arizona-based hedge fund Dream Holdings LLC predicted the downturn in U.S. equity markets in 2021. Thanks to the Quitto Index monthly readings, the fund was well positioned for the fall in U.S. stocks in 2022 when many rivals have faced challenges. In addition to forecasting the fall in U.S. stocks, the Quitto Index was also able to estimate the bottom of the Dow Jones Industrial Average in 2022. The 52-Week Low in October of 2022 was the range the hedge fund started shorting the Dow Jones Industrial Average in 2021.
Thursday 1/12 Insider Buying Report: PLAY (Nasdaq.com)
At Dave & Busters Entertainment, a filing with the SEC revealed that on Wednesday, SVP, Chief Marketing Officer Ashley Zickefoose purchased 3,600 shares of PLAY, for a cost of $41.58 each, for a total investment of $149,684. Dave & Busters Entertainment is trading up about 2.3% on the day Thursday. Before this latest buy, Zickefoose made one other purchase in the past twelve months, buying $103,470 shares at a cost of $34.49 each.
Robinhood, Tradeweb Markets And These 3 Stocks Insiders Are Selling (Benzinga)
Tradeweb Markets: The Trade: Tradeweb Markets Inc. (TW) CEO William Hult sold a total of 41,260 shares at an average price of $63.59. The insider received around $2.62 million as a result of the transaction. Lamb Weston: The Trade: Lamb Weston Holdings, Inc. (LW) Senior Vice President Jared Michael Smith sold a total of 11,934 shares at an average price of $98.90. The insider received around $1.18 million from selling those shares.
