Tom Steyer’s Life Changed When He Revisited an Alaska Glacier and Saw How Much It had Melted (CNBC)
Tom Steyer, the former hedge fund executive, billionaire, and Democratic presidential candidate has become one of the leading activist investors on climate change. But he wasn’t always as concerned. For 26 years, Steyer ran the hedge fund he founded in 1986, Farallon Capital. It invested in all sectors of the economy — including fossil fuel companies.
Balyasny, BlueCrest, ExodusPoint Ground Traders Over Losses (Bloomberg)
The hedge fund traders watched as a nightmare scenario played out in the world’s bond markets. From Australia to the U.K. to the U.S., government bond yields abruptly moved against them last week amid growing speculation that central banks will accelerate plans for raising interest rates in the face of persistent inflation. The losses piled up — and for a few became so big that the firms halted some trading to contain the damage.
Tiger Global dealmakers Scott Shleifer and John Curtius are winning over Miami startups. The latest is QuickNode. (Business Insider)
Tiger Global Management has made an overpowering entrance into the venture-capital world. Now, the hedge fund’s top dealmakers, Scott Shleifer and John Curtius, are quickly winning over founders in the latest startup hot spot: Miami. The latest example: the blockchain-development platform QuickNode raised $35 million last week in an oversubscribed round led by Tiger Global with participation from Seven Seven Six, Soma Capital, and other investors.
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Hedge Fund Tycoon Paul Marshall Pledges GBP50 Million for LSE Social Impact Initiative (Hedge Week)
Sir Paul Marshall, co-founder, chairman and chief investment officer of UK hedge fund giant Marshall Wace, has donated GBP50 million to the London School of Economics’ Marshall Institute to establish a new accelerator programme aimed at tackling future environmental, health, and social inequality challenges. The Marshall Impact Accelerator – which is being unveiled on finance day at the COP26 climate summit in Glasgow and is scheduled to launch in spring next year – will provide philanthropic capital for innovative social ventures spanning environment, health, social inequality, public policy and developmental economics challenges.
With Hedges in Place, Ackman Calls on the Fed to Raise Rates (Institutional Investor)
Even with five million fewer people employed in the U.S. than before the start of the Covid-19 pandemic, the economy’s recovery has been so robust and the threat of inflation so high that hedge fund manager Bill Ackman thinks the Federal Reserve should “begin raising rates as soon as possible.” “A ‘wait and see’ approach to raising interest rates creates significant risks given the substantial progress to date on employment and inflation combined with the unprecedented economic backdrop,” Ackman wrote in an extensive presentation of the Investor Advisory Committee on Financial Markets to the New York Federal Reserve on Oct. 20.
Hedge Fund SRS Gains Over $5 Billion in a Day as Avis Soars (Bloomberg)
Hedge Fund SRS Investment Management racked up a $5.35 billion gain in just a few hours Tuesday as shares of Avis Budget Group Inc. soared in the latest meme stock frenzy. SRS, led by Karthik Sarma, is the biggest shareholder of the rental car company and has owned its stock for more than a decade. It holds shares and swaps representing a 43% stake in Avis, a regulatory filing shows.
Michael Burry Just Dismissed Red-Hot Meme Coin Shiba Inu as ‘Pointless’ — Try These 3 Mainstream Crypto Avenues Instead (Money Wise)
Michael Burry isn’t afraid to go against the herd. The hedge fund manager famously bet against the U.S. housing market in 2008 and won big — a move that was profiled in the hit movie “The Big Short.” And now he’s sounding the alarm on meme token Shiba Inu, citing the fact that its supply exceeds 1 quadrillion coins. “One quadrillion days is 2.7 trillion years, or all of time, from the beginning of the universe, multiplied by 71,000,” Burry wrote last month in a now-deleted tweet. “In other words, pointless.”
Wednesday 11/3 Insider Buying Report: BXMT, AMG (Nasdaq.com)
At Blackstone Mortgage Trust, a filing with the SEC revealed that on Tuesday, Director Henry N. Nassau purchased 30,000 shares of BXMT, for a cost of $32.73 each, for a total investment of $982,029. Nassau was up about 1.8% on the buy at the high point of today’s trading session, with BXMT trading as high as $33.34 in trading on Wednesday. Blackstone Mortgage Trust is trading up about 1.9% on the day Wednesday. This buy marks the first one filed by Nassau in the past year. And at Affiliated Managers Group, there was insider buying on Tuesday, by Director Reuben Jeffery III who bought 2,700 shares for a cost of $188.39 each, for a total investment of $508,653. Before this latest buy, Jeffery III purchased AMG on 2 other occasions during the past year, for a total cost of $765,050 at an average of $153.01 per share. Affiliated Managers Group is trading up about 1.2% on the day Wednesday. So far Jeffery III is in the green, up about 1.2% on their purchase based on today’s trading high of $190.69.
Notable Kymera Therapeutics Insider Trades $3.6M In Company Stock (Benzinga)
Jared Gollob, Chief Medical Officer at Kymera Therapeutics (NASDAQ:KYMR), made a large buy and sell of company shares on November 2, according to a new SEC filing. What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission states that Jared Gollob exercised options to purchase 39,603 Kymera Therapeutics shares at prices ranging from $1.31 to $2.08 per share for a total of $66,974 on November 2. They then sold their shares on multiple transactions in the open market. They sold at prices ranging from $60.40 to $64.34 to raise a total of $3,573,658 from the stock sale.
The SVP & CFO of Zurn Water Solutions (NYSE: ZWS) is Selling Shares (Analyst Ratings)
Yesterday, the SVP & CFO of Zurn Water Solutions (ZWS), Mark W. Peterson, sold shares of ZWS for $4.46M. Following Mark W. Peterson’s last ZWS Sell transaction on May 27, 2021, the stock climbed by 11.6%. In addition to Mark W. Peterson, 8 other ZWS executives reported Sell trades in the last month. Based on Zurn Water Solutions’ latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $557 million and quarterly net profit of $64.1 million.
Insider Trading: November 1, 2021 (BIV.com)
Insider Jerry Kroll, director. Company: Electrameccanica Vehicles Corp. (Nasdaq:SOLO). Shares owned: 246,085. Trade date: October 15. Trade total: US$246,085. Trade: Sale of 71,745 shares at a price of US$3.43 per share. Insider Miko Malberg, 10% owner. Company: Atlas Engineered Products Ltd. (TSX-V:AEP). Shares owned: 1,390,000. Trade date: October 15. Trade total: $1,225,000. Trade: Sale of 2,500,000 shares at a price of $0.49 per share.
