“Hedge Funds are Back”: Veteran Investor Dixon Boardman Sees “Compelling Opportunities” Across Three Key Strategy Areas (Hedge Week)
Seasoned hedge fund investor Dixon Boardman, the founder and CEO of New York-based multi-manager group Optima Asset Management, is bullish on hedge funds for the year ahead – seeing compelling opportunities across several strategies after a year in which strong outperformance by many hedge funds has put alternatives firmly back on the radar of allocators around the world. Boardman, who has more than 30 years’ experience in hedge fund investing experience and is also vice chairman of Forbes Family Trust, highlights three key areas of opportunities that stood out last year and which he sees as continuing to offer ‘significant opportunity’ in 2021: Asia, especially China and India; healthcare; and concentrated ‘best ideas’ stock-picking by top long/short equity managers.
Hedge Fund Performance: 2020, Year of the Human Touch (IPE.com)
Diversification is back in favour for hedge funds and those with a downside protection mandate delivered during the crisis. Infectious diseases only just made it into the 2020 World Economic Forum’s risk impact list, yet the World Bank estimates that the pandemic caused global output to fall by 4.3% last year. So, when markets melted last March, did the $3trn (€2.5trn) hedge fund industry deliver? Hedge funds were down 11.55% in the first quarter and up 7.02% for the year, according to the HFRI Fund Weighted Composite index.
Monday 2/1 Insider Buying Report: TDY, RMT (nasdaq.com)
At Teledyne Technologies, a filing with the SEC revealed that on Friday, Executive Chairman Robert Mehrabian purchased 10,000 shares of TDY, for a cost of $366.05 each, for a total investment of $3.66M. Teledyne Technologies is trading up about 3.7% on the day Monday. This buy marks the first one filed by Mehrabian in the past year. And also on Friday, President Christopher D. Clark purchased $86,240 worth of Royce Micro-cap Trust, purchasing 8,000 shares at a cost of $10.78 each. Before this latest buy, Clark made one other buy in the past year, purchasing $84,000 shares at a cost of $8.40 each. Royce Micro-cap Trust is trading up about 1.4% on the day Monday. Thus far Clark is down about 0.6% on the buy, with shares trading as low as $10.71 in trading on Monday.
Insider Trading: February 1, 2021 (BIV.com)
Insider Andrew Morden, director. Company: Medallion Resources Ltd. (TSX-V:MDL). Shares owned: 0. Trade date: Jan 22. Trade total: $1,220,625. Trade: Sale of 38,750 shares at a price of $31.50 per share. Insider Andrew William Bowering, officer. Company: Prime Mining Corp. (TSX-V:PRYM). Shares owned: 400,000. Trade date: Jan 21, 22. Trade total: $325,000. Trade: Sale of 150,000 shares at prices from $2.10 to $2.15 per share.
-Notable Insider Buys Seen In The Past Week: Green Brick, Intel, Teledyne And More (Benzinga)
Franchise Group Inc (FRG), the parent of Liberty Tax, Vitamin Shoppe and other chains, had a 10% owner increase its stake last week. The 757,000 shares acquired, at a share price of $34.95, totaled more than $26.45 million. That raised that owner’s stake to more than 6.39 million shares, compared to a total float of more than 26 million. The stock closed most recently at $36.28 per share, which is almost 4% higher than the purchase price. Homebuilder Green Brick Partners Inc (GRBK) saw director and hedge fund manager David Einhorn add 850,000 shares in its secondary offering. At a share price of $20.55, that transaction totaled more than $17.46 million. But note that Einhorn sold 6.85 million shares as well, which netted him over $140.76 million. The stock slipped more than 12% last week and closed on Friday at $19.90 per share.
Smiledirectclub Inc (SDC) COO Steven B. Katzman Sold $6.4 million of Shares (Guru Focus)
COO of Smiledirectclub Inc, Steven B. Katzman, sold 412,000 shares of SDC on 01/28/2021 at an average price of $15.65 a share. The total sale was $6.4 million. SmileDirectClub Inc has a market cap of $5.13 billion; its shares were traded at around $13.280000 with and P/S ratio of 7.51.
The Chairman of RosCan Gold (Other OTC: RCGCF) is Buying Shares (Analyst Ratings)
Today, the Chairman of RosCan Gold (RCGCF), Samuel Esson Jonah, bought shares of RCGCF for $999K. This is Jonah’s first transaction since reporting a Sell transaction on GB:STA back in January 2012 In addition to Samuel Esson Jonah, 2 other RCGCF executives reported Buy trades in the last month.
