Starboard Discloses Willis Towers Stake, Says Broker Undervalued (Bloomberg)
Activist investor Starboard Value disclosed a new position in Willis Towers Watson Plc Thursday, and said it believes the insurance broker could nearly double its share price in the next three years. Jeff Smith, Starboard’s chief executive officer, said Willis Towers is undervalued and that the company has underperformed since 2016 because of poor execution and failed promises, among other things. At the same time, he sees no evidence that the company has a structural disadvantage to its peers.
Billionaire Trader Paul Tudor Jones Sounds the Inflation Alarm, Touts Bitcoin over Gold, and Warns Stocks could Fall in a New Interview. Here are the 8 Best Quotes. (Business Insider)
Paul Tudor Jones urged the Federal Reserve to tackle rising prices, trumpeted cryptocurrency as a better inflation hedge than gold, and suggested the Chinese government’s recent crackdowns are hurting its economy in a CNBC interview this week. The billionaire trader and founder of Tudor Investment Corporation also warned inflation is the greatest danger to investors right now, and cautioned stocks could fall if the Fed cools the economy.
Inflows Decrease but Remain Positive (Hedge Nordic)
Stockholm (HedgeNordic) – Hedge funds attracted $5.6 billion of net investor inflows in the third quarter, marking the fifth consecutive quarter of net inflows for the industry, according to Hedge Fund Research. Following marginal performance-based asset gains of $2.4 billion during the quarter, total hedge fund capital rose narrowly to an estimated $3.97 trillion at the end of September, representing an increase of about $370 billion from the start of the year.
K2 Hedge Fund Strategy Outlook: Fourth Quarter 2021 (Seeking Alpha)
As we move into Q4, markets are in a tug-of-war involving various good news vs. bad news debates. COVID-19 cases are declining, but central banks are considering tightening monetary policy. Earnings growth is strong, but year-over-year comparisons will become tougher. Employment statistics are improving, but supply chain constraints persist. These debates and others lead us to believe that certain hedge fund strategies will outperform in a potentially choppy environment.
Global Hedge Fund Capital Steady as Industry Positions for Inflation, Rising Rates (Opalesque)
Opalesque Industry Update – Total hedge fund industry capital increased narrowly in the third quarter as equity and interest rate volatility escalated, while managers and investors positioned for additional volatility through year-end. Spurred by $5.6 billion of net investor inflows, as well as marginal performance-based gains, total hedge fund capital rose narrowly to an estimated $3.97 trillion to end 3Q 2021, representing an increase of nearly $370 billion from the start of the year, as reported by HFR, in the latest release of the HFR Global Hedge Fund Industry Report. As reported previously, total hedge fund industry capital has soared by over $1 trillion in the trailing six quarters since falling below $3 trillion in 1Q20 as the global pandemic began. With the $5.6 billion of inflows for 3Q21, net inflows since 3Q20 have totaled an estimated $40 billion.
Thursday 10/21 Insider Buying Report: SGHT, TPL (Nasdasq.com)
At Sight Sciences, a filing with the SEC revealed that on Monday, Director Staffan Encrantz bought 527,048 shares of SGHT, at a cost of $24.00 each, for a total investment of $12.65M. So far Encrantz is in the green, up about 4.4% on their buy based on today’s trading high of $25.07. Sight Sciences is trading up about 7.9% on the day Thursday. This purchase marks the first one filed by Encrantz in the past year. And at Texas Pacific Land, there was insider buying on Monday, by Director Murray Stahl who purchased 22 shares at a cost of $1225.00 each, for a total investment of $26,950. Before this latest buy, Stahl purchased TPL on 198 other occasions during the past year, for a total cost of $7.86M at an average of $1341.51 per share. Texas Pacific Land is trading down about 0.9% on the day Thursday. So far Stahl is in the green, up about 3.6% on their buy based on today’s trading high of $1269.23.
Alphabet Insider Trades $39M In Company Stock (Benzinga)
Larry Page, Director at Alphabet (NASDAQ:GOOG), made a large insider sell on October 19, according to a new SEC filing. What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission on Tuesday showed that Page sold 13,889 shares of Alphabet at prices ranging from $2,863 to $2,879. The total transaction amounted to $39,901,686.
The CFO of Truist Financial (NYSE: TFC) is Buying Shares (Analyst Ratings)
Today, the CFO of Truist Financial (TFC), Daryl Bible, bought shares of TFC for $3.83M. This recent transaction increases Daryl Bible’s holding in the company by 39.37% to a total of $22.59 million. Following Daryl Bible’s last TFC Buy transaction on January 25, 2017, the stock climbed by 22.5%.
