Mike Novogratz Explains Why He’s Still All-In on Crypto (Bloomberg)
No one on Wall Street embraced cryptocurrencies with as much gusto as legendary trader Mike Novogratz. After Jamie Dimon called Bitcoin a “fraud” in September 2017, Novo, as he’s known, predicted, correctly, it would hit $10,000 and keep climbing. The former hedge fund manager and Goldman Sachs Group Inc. partner became an unlikely hero of the crypto movement and a billionaire on paper. Emboldened, Novogratz announced he was starting a cryptocurrency merchant bank, Galaxy Digital Holdings Ltd. But as he was raising money for the firm in January, Bitcoin began its historic plunge. Galaxy has since reported $136 million in trading losses. Novogratz is undeterred.
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$9 Billion Hedge Fund Manager David Abrams Says That In 20 Years, Google Won’t Be The Tech Powerhouse It Is Now (Business Insider)
Even the most successful companies can’t rest on their laurels. So says David Abrams, the managing partner of the $8.7 billion hedge fund Abrams Capital. Even Google will not be the “powerhouse” it is now in 20 years, Abrams said recently. “I don’t think you can assume anything is unconquerable,” he said while speaking at a conference in New York last week at Fordham University’s Manhattan campus. “They’re trying to hold off that fate (of declining), but it befalls most people.”
Struggling Hedge Funds Cling to Dollar, U.S. Yield Curve Bets: McGeever (Reuters)
LONDON (Reuters) – Hedge funds have struggled badly in 2018, but would be faring far worse were they not on the right side of two of the most reliable trades of the year: a flattening U.S. yield curve and a stronger dollar. Both trends remain in place, and as the latest data show, speculators look like holding onto them for the rest of the year. Funds increased their net long dollar position against a range of developed and emerging-market currencies by nearly $2 billion to $32.09 billion in the week to Dec. 4, according to Commodity Futures Trading Commission figures. That’s the biggest cumulative bet on a rising dollar in three years.
Insider Buying: Novume Solutions Inc (NVMM) Director Buys 50,000 Shares of Stock (PressOracle.com)
Novume Solutions Inc (NASDAQ:NVMM) Director Glenn S. Goord bought 50,000 shares of the company’s stock in a transaction on Friday, December 7th. The shares were purchased at an average cost of $0.57 per share, for a total transaction of $28,500.00. The purchase was disclosed in a filing with the SEC.
Insider Buying: XOMA Corp (XOMA) Insider Acquires 61,023 Shares of Stock (XNewsPress.com)
XOMA Corp (NASDAQ:XOMA) insider Value Fund L. P. Biotechnology bought 61,023 shares of the firm’s stock in a transaction on Monday, December 10th. The stock was purchased at an average price of $14.71 per share, with a total value of $897,648.33. The purchase was disclosed in a document filed with the SEC.
Insider Selling: TPI Composites Inc (TPIC) Major Shareholder Sells 99,978 Shares of Stock (FairFieldCurrent.com)
TPI Composites Inc (NASDAQ:TPIC) major shareholder Element Partners Ii Intrafund sold 99,978 shares of the business’s stock in a transaction that occurred on Monday, December 3rd. The stock was sold at an average price of $27.16, for a total transaction of $2,715,402.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.
Insider Buying: U.S. Auto Parts Network, Inc. (PRTS) Major Shareholder Purchases 388,804 Shares of Stock (WeekHerald.com)
U.S. Auto Parts Network, Inc. (NASDAQ:PRTS) major shareholder David Kanen acquired 388,804 shares of U.S. Auto Parts Network stock in a transaction dated Thursday, November 29th. The shares were purchased at an average cost of $1.11 per share, with a total value of $431,572.44. Following the completion of the transaction, the insider now directly owns 173,513 shares of the company’s stock, valued at $192,599.43. The acquisition was disclosed in a filing with the Securities & Exchange Commission.
Insider Buying: Entercom Communications Corp. (NYSE:ETM) Chairman Purchases 183,332 Shares of Stock (MareaInformativa.com)
Entercom Communications Corp. (NYSE:ETM) Chairman Joseph M. Field purchased 183,332 shares of the business’s stock in a transaction on Thursday, November 29th. The shares were purchased at an average price of $6.50 per share, with a total value of $1,191,658.00. Following the completion of the purchase, the chairman now owns 40,990 shares in the company, valued at $266,435. The transaction was disclosed in a document filed with the SEC.
Insider Selling: SEI Investments (NASDAQ:SEIC) Major Shareholder Sells 145,238 Shares of Stock (FairFieldCurrent.com)
SEI Investments (NASDAQ:SEIC) major shareholder Alfred P. West, Jr. sold 145,238 shares of the firm’s stock in a transaction dated Wednesday, November 21st. The shares were sold at an average price of $52.76, for a total transaction of $7,662,756.88. Following the transaction, the insider now directly owns 10,386,713 shares in the company, valued at $548,002,977.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission.
