Summer is Fading. But Performance in August was Hot at Hedge Funds Including Citadel, D.E. Shaw, Millennium, and Sculptor (Business Insider)
Multi-strategy fund managers remain as popular as ever. That isn’t necessarily a good thing, according to the industry’s top player. “Clearly right now the multi-strategy managers are very much in vogue. When you’re most popular is probably when you’re reaching the top of the cycle,” Citadel CEO and founder Ken Griffin recently told the Financial Times.
Billionaire Investors Are Loading Up on Apple Stock. Should You? (The Motley Fool)
This top stock continues to attract deep-pocketed investors. The bigger they are, the more they attract each other. That’s how gravity works in the physical world. It’s why the moon revolves around the Earth and affects our ocean tides. Gravity sometimes seems to apply to the investing world, too. Big stocks often attract the biggest investors. That’s certainly the case with Apple (AAPL -0.96%). Billionaires are loading up on the tech stock. Should you? Attracting deep-pocketed investors: The net worth of contrarian investor David Tepper currently stands at close to $20.6 billion. His Appaloosa Management is one of the most successful hedge funds ever. At the beginning of 2023, Tepper didn’t own a single share of Apple.
Regal, Hedge Funds Call Out ‘Career-Defining’ Trades (AFR.com)
Australia’s top hedge funds are betting on commodities and the so-called global leaders of the ASX but are avoiding big banks, defensive stocks and overvalued growth plays. The strength in the iron ore price despite concerns about China’s economy has baffled Auscap, L1 Capital and Regal Funds Management, but it’s also boosting confidence that resource stocks are the winning trade in the long term.
Monday 9/11 Insider Buying Report: DKS, CODI (Nasdaq.com)
On Thursday, Dick’s Sporting Goods’ Director, William J. Colombo, made a $241,999 purchase of DKS, buying 2,200 shares at a cost of $110.00 each. Colombo was up about 3.6% on the buy at the high point of today’s trading session, with DKS trading as high as $113.99 at last check today. Dick’s Sporting Goods is trading up about 0.4% on the day Monday. This buy marks the first one filed by Colombo in the past twelve months. And on Wednesday, Patrick A. Maciariello bought $202,143 worth of Compass Diversified, buying 10,000 shares at a cost of $20.21 each. Before this latest buy, Maciariello made one other purchase in the past year, buying $118,290 shares at a cost of $18.20 each. Compass Diversified is trading up about 0.7% on the day Monday.
ReWalk Robotics And 3 Other Stocks Under $2 Insiders Are Buying (Benzinga)
Cadrenal Therapeutics: The Trade: Cadrenal Therapeutics, Inc. (CVKD) Chairman and CEO Quang Pham acquired a total of 40,000 shares at an average price of $0.90. The insider spent around $36,188. Origin Materials: The Trade: Origin Materials Inc. (ORGN) Director R. Tony Tripeny acquired a total of 73,000 shares at an average price of $1.37. To acquire these shares, it cost around $100,054.
