This Strategy Beat the World’s Top Hedge Funds—Don’t Try It (The Wall Street Journal)
Please don’t feed or throw objects at the fund managers. David Einhorn and Stanley Druckenmiller, both scheduled speakers at Tuesday’s Sohn Investment Conference, each have earned billions of dollars through investing. Heard on the Street’s columnists are paid peanuts by comparison, but that didn’t stop us from making monkeys out of the conference’s hedge-fund luminaries five years ago. Inspired by Prof. Burton Malkiel’s book “A Random Walk Down Wall Street” in which he quipped that “a blindfolded monkey throwing darts at a newspaper’s financial pages could select a portfolio that would do just as well as one carefully selected by the experts,” our dart-picked stocks beat the Sohn Conference’s picks by a bruising 22 percentage points.
Glass Lewis Joins Oasis in Ppposing TRG CEO’s Pay Package (Hedge Week)
Oasis Management Company, the Hong Kong-based activist hedge fund seeking a leadership overhaul at Wagamama owner The Restaurant Group (TRG), has secured the backing of an influential shareholder advisory group in its protest against chief executive Andy Hornby’s pay deal. Oasis, which owns more than 12 per cent of TRG, has claimed that Hornby’s pay package is “disproportionate” and “unpalatable” in light of ‘poor performance’ at the company, which also owns the Frankie & Benny’s Italian-American themed restaurant chain.
The Millennium Compendium: Where Finance Meets Tech – and Math (CalcalisTech.com)
While the aerial view of Tel Aviv from the brand-new Millennium offices on the 45th floor of the Moshe Aviv Tower, the second tallest building in Israel, is indeed spectacular; the managers, Emmanuel Lanzmann and Itay Lotan, are extremely down to earth. “I believe Millennium is at the cutting edge of two industries: finance and technology,” Emmanuel Lanzmann, a French mathematician who completed his post doc studies at Israel’s Weizmann Institute, explains with a warm smile. “We give our technologists the opportunity to work on projects that matter. We really value curiosity and dynamism in our team. We’re building things with a vision, strategically, and at scale.”
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Team Evolution at Calculo (Hedge Nordic)
Stockholm (HedgeNordic) – After starting as a one-person fund boutique in 2018 and becoming a two-person shop in May 2022, Calculo Capital has now announced the appointment of Mark Steeltoft as a Client Specialist. The commodity-focused trend-follower will remain a two-person boutique as quantitative analyst Victor Lund Klestrup Hansen is pursuing his career outside Calculo Capital.
New York Hedge Fund Acquires Stake in Birmingham City FC After ‘Complex’ Talks (Financial News)
Thomas Wagner’s multi-billion dollar hedge fund Knighthead Capital Management has acquired a significant stake in the English football club Birmingham City. New York-based Knighthead Capital Management, which has roughly $9.5bn in assets under management, will have full ownership of St Andrew’s, the home ground of Birmingham City FC through its Birmingham subsidiary Shelby Companies.
