Norway’s Stock Investing Behemoth Signals Shift to Active Management (The Wall Street Journal)
The world’s largest sovereign-wealth fund is planning a more active approach to investing, according to the updated strategy it unveiled on Wednesday. Norges Bank Investment Management, the arm of the Norwegian central bank that operates the 11.162 trillion Norwegian kroner fund, equivalent to $1.3 trillion, has revised its strategy several months into the tenure of Chief Executive Nicolai Tangen. Mr. Tangen joined in September after previously running a $21 billion London-based hedge fund.
Credit Suisse can Weather Archegos Fallout, Says IMF Mission Chief (Reuters)
ZURICH, April 7 (Reuters) – Credit Suisse should be able to weather a $4.7 billion loss from the Archegos hedge fund and the collapse of $10 billion worth of Greensill funds, with no meaningful risk to the Swiss financial sector’s health from the episodes, the IMF’s country mission head said. Shares in Credit Suisse have dropped by 25% in the space of a month, with Switzerland’s second biggest bank reeling from its exposure to the collapse first of Greensill Capital and then Archegos Capital Management.
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$48 Billion Hedge Fund Giant Millennium Latest to Trade Bitcoin Trust (The Street)
Multi-strategy hedge fund operator Millennium Management had exposure to the late March free-fall of the net asset value of Grayscale Bitcoin Trust (GBTC), according to two sources with knowledge of the matter. While the price premium GBTC long traded at against Bitcoin collapsed recently, it’s unclear if New York-based Millennium booked any losses on the crowded trade.
Billionaire Investor Mike Novogratz Says He Bought Facebook Stock to Capitalize on the Company’s Digital Wallet Launch (Business Insider)
Billionaire Mike Novogratz revealed in a Bloomberg interview Tuesday that he has bought shares in Facebook ahead of its digital wallet launch. “I bought Facebook stock because the company is going to come out with the Novi wallet sometime this quarter I think,” he said. “All of a sudden you’re going to have 2.4 billion people connected to this crypto space.”
Hedge Fund ARK36: What Our Concordium Investment Says About the Crypto Space (FintechZoom)
Paving the way for institutional crypto investment. ARK36 is a cryptocurrency-focused investment fund. We aim to provide risk-adjust exposure to the cryptocurrency markets to professional investors. As an actively managed fund, we maintain a diverse portfolio of crypto assets that differ in terms of allocation size as well as performance potential and risk. Additionally, we actively pursue investments in new projects in the crypto space with a promising, asymmetric risk-to-reward ratio. We do so to maximize the performance of our fund for our investors while obtaining greater portfolio diversification at the same time.
Hedge Fund D E Shaw Raised $1bn for New Private Equity Fund Targeting Distressed Deals, Special Situations (Alt Assets)
Global hedge fund investor D E Shaw has raised $1bn for a new private equity fund targeting stressed and distressed assets, financings and special situations opportunities. The firm launched its first Alkali fund in 2012 to extend the reach of its credit-oriented hedge fund activities by pursuing investments in attractive, longer-horizon opportunities.
Dan Niles is Buying These Two Stocks in the Wake of the Archegos Meltdown (CNBC)
Satori Fund Founder Dan Niles is taking advantage of the fallout from the Archegos Capital Management blow-up and buying two of the most beaten down names.
Short-Seller Launches Commingled Vehicle (Green Street)
Short-seller Soren Aandahl, whose blistering reports in recent years vaporized companies and prompted the resignation of the chief executive at the world’s largest luggage maker, has launched an equity fund. Aandahl, the founder and chief investment officer of Blue Orca Capital in Austin, began trading the short-bias vehicle this month. It’s unclear how much money he’s working with, but his track record of smoking out mismanagement and fraud could attract attention. The fund runs a highly concentrated portfolio, typically consisting of five to 10 short positions in companies around the world. It hedges the portfolio with long positions via indexes or baskets of stocks.
Seems ‘Insider Trader’ Was A Bit Too Harsh A Description For Two Hedge Fund Managers (Deal Breaker)
If Geoffrey Berman is remembered at all, it will no doubt be for heroically preventing one of President Trump’s golfing buddies from going home six months early. (Things seem to have worked out OK for Jay Clayton all the same.) This is for the best, as his actually stewardship of the U.S. Attorney’s Office for the Southern District of New York is looking worse with each passing day.
Wednesday 4/7 Insider Buying Report: JOAN, TSI (Nasdaq.com)
At JOANN, a filing with the SEC revealed that on Tuesday, CEO Wade D. Miquelon bought 47,550 shares of JOAN, at a cost of $11.36 each, for a total investment of $540,035. So far Miquelon is in the green, up about 19.2% on their purchase based on today’s trading high of $13.54. JOANN is trading up about 5.5% on the day Wednesday. Before this latest buy, Miquelon made one other buy in the past twelve months, purchasing $660,000 shares for a cost of $12.00 a piece. And also on Tuesday, Portfolio Manager Laird Landmann bought $495,908 worth of TCW Strategic Income Fund, buying 87,525 shares at a cost of $5.67 a piece.
A Director at Cantel Medical (NYSE: CMD) is Selling Shares (Analyst Ratings)
Yesterday, a Director at Cantel Medical (CMD), Ann Berman, sold shares of CMD for $453.3K. Following Ann Berman’s last CMD Sell transaction on August 01, 2017, the stock climbed by 9.5%. This is Berman’s first transaction since reporting a Sell transaction on EV back in December 2019. Based on Cantel Medical’s latest earnings report for the quarter ending January 31, the company posted quarterly revenue of $294 million and quarterly net profit of $12.07 million.
Compass Inc (COMP) Chairman and CEO Robert L. Reffkin Bought $7.4 million of Shares (Guru Focus)
Chairman and CEO of Compass Inc, Robert L. Reffkin, bought 411,111 shares of COMP on 04/06/2021 at an average price of $18 a share. The total cost of this purchase was $7.4 million. Compass Inc has a market cap of $7.24 billion; its shares were traded at around $18.700000 with and P/S ratio of 1.79.
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