Here’s How Hedge Funds Are Speculating on Justice (WashingtonPost.com)
For centuries, turning other people’s legal claims into moneymaking opportunities has been frowned upon. That started to change in the 1990s, when Australia allowed insolvent companies to engage outside funders to sustain legal claims they might otherwise have run out of money to pursue. Third-party funding of civil litigation caught on in the UK and some European countries in the 2000s. Gradual acceptance in the US helped turn the field known as litigation finance, or “lit finance,” into a multibillion-dollar industry, spawning a niche asset class that’s drawn in private equity funds and institutional investors.
Here’s How One Hedge Fund is Going Against the Grain and Beating the Markets (MarketWatch)
White shoe Boston fund managers GMO — founded by Jeremy Grantham — is shooting out the lights this year with its “equity dislocation” investment strategy. This strategy, unveiled almost exactly two years ago, buys the cheapest “value” stocks and then bets against the most expensive “growth” ones. This “equity dislocation” portfolio has earned a stunning 21% from Oct. 31, 2021 until Oct. 30, 2022, according to GMO reports. It’s up 13% since January 1. Its average returns over 2 years have been 15% a year.
Singapore on the Rise as Hedge Fund Hub (Finews.asia)
Singapore has benefited from demand from hedge funds seeking an alternative hub in the region after political unrest hit Hong Kong in 2019 followed by persistent Covid curbs. The number of hedge funds with an existing presence in Hong Kong that expanded to Singapore reached 16 between the start of 2019 and end-2021, according to public registry data, marking a more than three-fold increase compared to the previous three-year period.
Dubai-Arrested Hedge Fund Founder Wanted in Denmark Over Alleged $2bn Fraud can be Tried in Germany (ArabianBusiness.com)
Sanjay Shah, the hedge-fund founder in a Dubai jail and wanted by Denmark for allegedly masterminding a $2bn Cum-Ex tax fraud scheme, can also be tried in Germany, a local court ruled. A case against Shah, who is currently locked up in a Dubai jail, and six others can go to trial, a spokesman for the Hamburg Regional Court said, without giving further details. Sueddeutsche Zeitung reported the ruling earlier.
Thursday 12/1 Insider Buying Report: FAST, BODY (Nasdaq.com)
At Fastenal, a filing with the SEC revealed that on Tuesday, Executive Vice President Jeffery Michael Watts purchased 5,940 shares of FAST, for a cost of $50.58 each, for a total investment of $300,433. Watts was up about 2.7% on the purchase at the high point of today’s trading session, with FAST trading as high as $51.95 in trading on Thursday. Fastenal is trading up about 0.1% on the day Thursday. And on Wednesday, CHIEF OPERATING OFFICER Kathy P. Vrabeck purchased $175,250 worth of Beachbody, purchasing 250,000 shares at a cost of $0.70 each. Before this latest buy, Vrabeck made one other buy in the past twelve months, purchasing $499,987 shares at a cost of $1.07 each. Beachbody is trading trading flat on the day Thursday.
$5 Million Bet On Lifecore Biomedical? Check Out These 4 Stocks Insiders Are Buying (Benzinga)
HireRight Holdings: The Trade: HireRight Holdings Corporation (HRT) 10% owner General Atlantic (SPV) GP (Bermuda), LLC acquired a total of 591,824 shares an average price of $11.85. To acquire these shares, it cost around $7.01 million. Lifecore Biomedical: The Trade: Lifecore Biomedical, Inc. (LFCR) 10% owner Joshua Landes bought a total of 627,746 shares at an average price of $7.97. To acquire these shares, it cost around $5 million.
