Here’s How Early Crypto Investor Mike Novogratz Sees the Bitcoin Trade Unfolding Next Year (CNBC)
Galaxy Digital founder Michael Novogratz, who in February correctly predicted bitcoin would set new highs in 2020, on Tuesday broke down how he sees the cryptocurrency trade playing out next year. In an interview on CNBC’s “Squawk Box,” Novogratz said he believes bitcoin will eventually begin to trade with more stability as additional institutional investors adopt the digital coin as part of their portfolios.
Billionaire Hedge Fund Hintze’s Deal With Spinoff Team Falls Apart (Bloomberg)
A deal between Michael Hintze’s CQS and its equity hedge-fund spinoff has collapsed as the billionaire renews focus on his core credit investing roots in a turbulent year marred by record losses. CQS was to take an equity stake in the business — Landseer Asset Management — and allocate some capital to it. But Hintze’s firm and Landseer, led by former CQS head of equities Paul Graham, have now abandoned the plan, according to people with knowledge of the matter.
Breakingviews – Corona Capital: Sports Cards, Bankers, Bonds (Reuters)
TOPPS OF THE HEAP. Steven Cohen here, the hedge fund billionaire and newly minted New York Mets owner, is now buying into the business of authenticating sports and other memorabilia and collectibles. Alongside entrepreneur Nat Turner and D1 Capital Partners, he is using his private capital to take Collectors Universe private for roughly $700 million. It’s no steal. The financial heavy hitters said here on Monday they’re paying a 30% premium to the company’s 60-day average valuation, and its stock has more than tripled this year.
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Just Call Him Blue-Chip Bill (Deal Breaker)
In three weeks, pretty much every American with any exposure to equities will own a little piece of Elon Musk’s foibles and failure to deliver anything like what he promises, as Tesla at last makes its entrance into the S&P 500 (and all at once, at that). And in two-and-a-half, British investors may become passive participants in the Ackmanaissance, like it or not. Fund manager Bill Ackman’s Pershing Square Holdings is on the brink of being included in the UK’s blue chip FTSE 100 index, after delivering an impressive run of performance during the coronavirus pandemic.
Rhenman to Shutter Global Opportunities Equity Long/Short Hedge Fund (Hedge Week)
Rhenman & Partners Asset Management says it is closing its Rhenman Global Opportunities L/S strategy and intends to return capital back to investors. The fund – a global equity-based strategy which trades long and short across all industries and sectors, with a focus on value-oriented companies – has struggled with performance throughout 2020. The strategy, which has an annual return target of 7-8 per cent – is down more than 23 per cent over the 10-month period since the start of this year.
Hedge Fund Veteran Chris James to Start Impact-Investing Firm (Bloomberg)
Chris James, who co-founded one of the biggest technology hedge funds in the early 2000s, is starting a firm to invest in companies that can have a positive impact on society and the environment. Engine No. 1 will press for change in the public and private companies it invests in, according to a statement Tuesday. A company’s ability to create long-term shareholder value depends on the investments it makes in workers, communities and the environment, the San Francisco-based firm said.
Tuesday 12/1 Insider Buying Report: RAIL, TRST (Nasdaq.com)
At FreightCar America, a filing with the SEC revealed that on Friday, CEO James R. Meyer purchased 27,500 shares of RAIL, for a cost of $2.13 each, for a total investment of $58,567. Meyer was up about 34.8% on the buy at the high point of today’s trading session, with RAIL trading as high as $2.87 in trading on Tuesday. FreightCar America Inc is trading off about 1.8% on the day Tuesday. This purchase marks the first one filed by Meyer in the past year. And at Trustco Bank, there was insider buying on Friday, by EVP & CHIEF RISK OFFICER Robert M. Leonard who bought 7,252 shares for a cost of $6.21 each, for a trade totaling $45,035. Before this latest buy, Leonard bought TRST at 4 other times during the past year, for a total investment of $161,147 at an average of $5.55 per share. Trustco Bank is trading up about 3% on the day Tuesday.
Tiffany (TIF) CEO Alessandro Bogliolo Sold $17.4 million of Shares (Guru Focus)
CEO of Tiffany, Alessandro Bogliolo, sold 132,217 shares of TIF on 11/30/2020 at an average price of $131.59 a share. The total sale was $17.4 million. Tiffany & Co functions in the luxury goods market. As a retailer of jewelry, it sells timepieces, sterling silver goods, china, crystal and accessories. Tiffany & Co has a market cap of $15.96 billion; its shares were traded at around $131.48 with a P/E ratio of 55.48 and P/S ratio of 4.36.
The CEO of Twitter (NYSE: TWTR) is Buying Shares (Analyst Ratings)
Yesterday, the CEO of Twitter (TWTR), Jack Dorsey, bought shares of TWTR for $4.83M. Following Jack Dorsey’s last TWTR Buy transaction on April 28, 2017, the stock climbed by 30.0%. Following this transaction Jack Dorsey’s holding in the company was increased by 9.67% to a total of $818 million. Based on Twitter’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $936 million and quarterly net profit of $28.66 million.
Insider Dealing: MD of Fidelity Bank Acquires 5 Million Shares of Fidelity (Investors King)
Mrs. Nneka Onyeali-Ikpe, the Managing Director and Chief Executive Officer (CEO) Designate, Fidelity Bank Plc, purchased 5,000,000 shares of Fidelity Bank on Monday, November 30, 2020. The management disclosed this in a statement forwarded to the Nigerian Stock Exchange (NSE). Onyeali-Ikpe purchased the shares in five different transactions, according to the statement signed by Ezinwa Unuigboje, the Company Secretary, Fidelity Bank Plc.
Nikola Founder Trevor Milton Can Sell His 91.6 million Shares Starting Tuesday as Insider Lockup Period Expires (CNBC)
Trevor Milton owns 91.6 million shares of Nikola that are eligible to be traded Tuesday for the first time. There are up to 166 million shares, including Milton’s, held by other insiders and early investors that are eligible to be traded starting Tuesday. With roughly 360.9 million shares of company stock outstanding, Milton is by far Nikola’s largest single shareholder.
Facebook Inc (FB) COB and CEO Mark Zuckerberg Sold $17.2 million of Shares (Guru Focus)
COB and CEO of Facebook Inc, Mark Zuckerberg, sold 62,250 shares of FB on 11/27/2020 at an average price of $277.06 a share. The total sale was $17.2 million. Facebook Inc is the world’s largest online social network. Its products are Facebook, Instagram, Messenger, WhatsApp, and Oculus. Its products enable people to connect and share through mobile devices and personal computers.
