Billionaire Hohn Urges Central Bankers to Turn Up Climate Heat on Lenders (Reuters)
GLASGOW, Nov 9 (Reuters) – Central bankers must force the world’s banks to set short-term targets to cut carbon emissions from their loan books or the sector’s net-zero pledges will simply be “greenwashing”, billionaire hedge fund investor Chris Hohn told Reuters. Speaking on the sidelines of the COP26 climate talks in Scotland, Hohn – a major financial backer of climate-focused non-governmental organisations – told Reuters annual emissions cuts of 7% were needed to ensure global targets were hit.
‘Quant Winter’ Brings Down Factor Fund (Hedge Nordic)
Stockholm (HedgeNordic) – Alternative risk premia funds, which employ a rules-based approach to harvest risk premia such as value, quality, or momentum, have struggled to deliver on their promise of strong risk-adjusted returns with low correlation to traditional asset classes in a liquid, cost-efficient and transparent form. One casualty of the recent underperformance is the Evli Factor Premia Fund. Finnish asset manager Evli has announced the closure of its market-neutral factor fund, Evli Factor Premia.
Kerry Packer’s Aborted Role in LTCM Saga (AFR.com)
The stupendous rise and equally spectacular fall of hedge fund Long Term Capital Management in 1998 has long drawn the imaginations of finance wonks and historians. But Kerry Packer’s role in the saga is far less well known. Though it’s received an airing of late, courtesy of the recent reflections of finance professor and Long Term Capital Management partner Eric Rosenfeld on gambling podcast Risk of Ruin.
U.S. charges McKinsey Partner with Insider Trading in Goldman-GreenSky Purchase (Reuters)
NEW YORK, Nov 10 (Reuters) – A partner at the McKinsey consulting firm was criminally charged on Wednesday with insider trading ahead of Goldman Sachs Group Inc’s (GS.N) agreement to buy digital lender GreenSky Inc (GSKY.O) for $2.24 billion, U.S. prosecutors said on Wednesday. Puneet Dikshit, 40, of Manhattan, allegedly generated about $450,000 of profit after purchasing call options in GreenSky, a bet that its stock price would rise, that he sold after the merger was announced on Sept. 15.
Renovacor Insider Makes $1.4M Stock Purchase (Benzinga)
Roderick Wong, 10% Owner at Renovacor (AMEX:RCOR), made a large insider buy on November 8, according to a new SEC filing. What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission on Monday showed that Wong purchased 172,210 shares of Renovacor at at prices ranging from $8.03 to $8.38. The total transaction amounted to $1,409,677. Following the transaction, Wong now owns 2,534,750 shares of the company, worth $21,291,900.
What Did This CEO Just Do with Personal Shares of Assurant (NYSE: AIZ)? (Analyst Ratings)
Yesterday, the CEO of Assurant (AIZ), Alan Colberg, sold shares of AIZ for $2.22M. Following Alan Colberg’s last AIZ Sell transaction on June 02, 2014, the stock climbed by 101.8%. This is Colberg’s first transaction since reporting a Buy transaction on KMX back in April 2016. Based on Assurant’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $2.64 billion and quarterly net profit of $882 million.
