Activist Hedge Fund Jana Partners Urges Macy’s to Spin Off e-commerce Unit (New York Post)
Macy’s could make a whopping $14 billion if it sold its e-commerce business, an activist investor claimed on Wednesday. Jana Partners, which has forced changes at other big chains including Outback Steakhouse, Tiffany & Co. and Whole Foods, appears to be encouraging Macy’s to follow Saks Fifth Avenue’s example by separating its bricks and mortar business from its online business, according to reports.
Multi-Strategy Hedge Fund Brummer Navigates Equities and Energy Upheaval (Hedge Week)
Swedish asset manager Brummer & Partners’ flagship multi-strategy hedge fund vehicle edged into positive territory in September, as stock market highs earlier in the month rapidly reversed amid renewed volatility, and commodity prices surged higher. The Brummer Multi-Strategy (BMS) vehicle – which comprises nine hedge fund strategies spanning equity, macro, trend-following and more – saw its SEK-denominated share class rise 0.5 per cent last month, and 0.4 per cent in its USD class. However, on a year-to-date basis the fund is still down 0.4 per cent following losses earlier in the year.
Crypto Billionaire Mike Novogratz Says Sky-High NFT Prices are Not Normal and Investors should be Taking Money Off the Table (Business Insider)
Crypto billionaire Mike Novogratz has said the soaring prices of non-fungible tokens (NFTs) are “not normal” and that it’s a good time to be taking some money off the table. Novogratz said he was bullish about the prospects for NFTs – collectible items secured using crypto technology – but startled about the recent run-up in prices. “Markets don’t go straight up forever,” he said.
Rawpixel / shutterstock.com
George Soros’ Fund Owns Bitcoin, CEO Confirms (CNBC)
Soros Fund Management, the asset management company founded by billionaire investor and philanthropist George Soros, has revealed that it owns the cryptocurrency bitcoin. The family office owns “some coins … but not a lot,” Dawn Fitzpatrick, CEO and chief investment officer of Soros Fund Management, said in an interview at a Bloomberg event this week.
Leading Hedge Fund Coatue is Backing a Startup Built by Ex-Adyen Employees as its European Push Intensifies, Sources Say (News Nation USA)
New York-based hedge fund Coatue Management has closed its latest deal to back a European startup, on the heels of the investment giant confirming plans to open a physical office in the bloc. The investor has led a round into Dutch card processing fintech Silverflow, three sources familiar with the matter told Insider. Silverflow, which was founded by former staff from Dutch payments giant Adyen, claims it can dramatically improve upon the technology that underpins online card transactions. The startup’s tech streamlines processing by acting as a direct connection to card networks like Visa and MasterCard through an API.
Hedge Fund Legend David Einhorn Warns Investors aren’t Doing their Homework, Predicts Stubborn Inflation, and Says Crypto is Too Complex for Him in a New Interview. Here are the 10 Best Quotes. (Business Insider)
Hedge fund manager David Einhorn cautioned that not every loss-making startup will be the next Amazon, complained that too few investors are scrutinizing company accounts, and predicted stubborn inflation in a RealVision interview this week. The Greenlight Capital boss also bemoaned the trend of people investing based on market sentiment instead of fundamentals, and said cryptocurrencies are too complex and uncertain for him to trade them.
A Contemporary Evaluation of Key Alternative Investments (Hedge Nordic)
By Dan Rizzuto, CFA and Linus Nilsson, CFA: Our article offers a condensed version of a contemporary evaluation of alternative investments represented by CTAs, Risk Premia, and Hedge Funds we recently completed. Here we describe Risk Premia as passive/semi-passive investments in alternative strategies and we have contrasted these investments with the active management approach of CTAs and Hedge Funds. In particular, we note an interesting correlation drift, that may not line up with expected risk and performance characteristics.
Thursday 10/7 Insider Buying Report: RMCF, JUPW (Nasdaq.com)
At Rocky Mountain Chocolate Factory, a filing with the SEC revealed that on Wednesday, Bradley Louis Radoff bought 18,183 shares of RMCF, for a cost of $7.22 each, for a total investment of $131,354. Radoff was up about 7.8% on the buy at the high point of today’s trading session, with RMCF trading as high as $7.79 in trading on Thursday. Rocky Mountain Chocolate Factory is trading off about 0.7% on the day Thursday. Before this latest buy, Radoff purchased RMCF at 4 other times during the past year, for a total investment of $783,268 at an average of $7.98 per share. And at Jupiter Wellness, there was insider buying on Wednesday, by CEO Brian John who bought 51,556 shares at a cost of $1.42 each, for a total investment of $73,023. Jupiter Wellness is trading up about 13.1% on the day Thursday. So far John is in the green, up about 18.6% on their purchase based on today’s trading high of $1.68.
The Chairman of Valeo Pharma (Other OTC: VPHIF) is Buying Shares (Analyst Ratings)
Yesterday, the Chairman of Valeo Pharma (VPHIF), Richard J Mackay, bought shares of VPHIF for $75K. In addition to Richard J Mackay, 4 other VPHIF executives reported Buy trades in the last month. This recent transaction increases Richard J Mackay’s holding in the company by 1% to a total of $6.04 million. Based on Valeo Pharma’s latest earnings report for the quarter ending July 31, the company posted quarterly revenue of $5.67 million and GAAP net loss of -$2,969,000.
Alphabet Insider Sold $8.1M In Company Stock (Benzinga)
Sundar Pichai, Chief Executive Officer at Alphabet (NASDAQ:GOOG), made a large insider sell on October 6, according to a new SEC filing. What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission on Wednesday showed that Pichai sold 3,000 shares of Alphabet at prices ranging from $2,694 to $2,721. The total transaction amounted to $8,127,904. Pichai still owns a total of 88,693 shares of Alphabet worth, $247,310,674.
