David Einhorn Has Made a Lot of Bad Bets – And One Very Good One (Bloomberg)
It’s been a tough year for David Einhorn, one-time enfant terrible of hedge funds. In fact, it’s been a tough six years: his flagship fund has lost 34% since the start of 2015. But after so many missteps, Einhorn, 52, still has one big thing going for him, and it starts in Plano, Texas. It’s called Green Brick Partners Inc., and it’s been propping up the otherwise-shaky returns coming out of Einhorn’s loss-ridden Greenlight Capital.
What Ray Dalio Gives for the Holidays (Hint: It Sometimes Involves a Blank Check) (CNBC)
“For more than 10 years, I have given my friends and colleagues money to donate to their favorite charities in lieu of traditional holiday gifts,” billionaire Ray Dalio said in his Principles newsletter on Thursday. “That way, the money goes to those most in need.” Dalio has even been known to send a blank check for the donation.
Billionaire Investor Bill Ackman Says the US Should Give Every American Cash at Birth So They can Retire a Millionaire (Business Insider)
Over the past several months, top business and finance leaders — from Ray Dalio to Melinda Gates — have been sounding the alarm on inequality in America, saying something is broken with our current state of capitalism. Now, billionaire William “Bill” Ackman, chief executive of the hedge fund Pershing Square Capital Management, is joining the ranks, arguing that wages haven’t kept up with the rate of wealth creation from the stock market, which has benefited the rich and the upper middle class, while leaving everyone else behind.
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The Beauty of a Multi-Strategy Approach (Hedge Nordic)
Stockholm (HedgeNordic) – Many investments products are giving investors more of what they already have – long exposure equities or bonds. In a world where equities and bonds are not expected to offer particularly attractive returns, investors are looking for diversified sources of return that exhibit low correlation with traditional assets and potential for alpha without significant beta exposure. As the CEO of A-L Hedge, Anna Svahn assembled an experienced team of five to launch and run a multi-strategy hedge fund – Antiloop Hedge – that caters to the diversification-seeking investor. The team includes Martin Sandquist, one of the co-founders of Lynx Asset Management, and Karl-Mikael Syding, former partner and portfolio manager at Brummer & Partners-backed hedge fund Futuris.
Paul Tudor Jones Endorses Ethereum While ETH Price Seems Ready for the Ultimate Liftoff to $800 (FX Street)
Paul Tudor Jones is an American billionaire hedge fund manager who believes Bitcoin is still in its infancy and people do not know how to value it. Tudor states that around 20 years from now, our kids will be using some type of digital currencies. Paul Tudor also believes that in the future the crypto space will be divided into precious currencies like Bitcoin, transactional cryptocurrencies along with sovereigns and, lastly, industrial digital assets, which could be Ethereum.
Alan Howard, the Super-Secret Macro Trader (Bloomberg)
Traders like Alan Howard place bets on macro trends, reading which way economies will turn and then wagering on everything from interest rates to stocks to currencies. His specialty is rates trading using borrowed money, which allows him to take bigger risks to achieve outsize returns. That’s about all that’s known about the highly secretive dealings of the Brevan Howard AH Master Fund – other than that the “AH” are Howard’s initials.
Innolab Has GRIT (Hedge Nordic)
Stockholm (HedgeNordic) – Danish artificial intelligence firm Innolab Technology has joined forces with Estlander & Partners and its sister company GRIT Fund Management Company to launch a new hedge fund fully powered by artificial intelligence. Scheduled to launch on January 1 in 2021, GRIT Innolab AI Equity Arbitrage AIF will employ an AI-powered equity arbitrage strategy based on pairs trading across a universe of more than 50 sector and country equity indices. “This is an important milestone for Innolab Technology,” says Henrik Bak, Partner and Board member of Innolab Technology. “We have worked the past year on making our 100% Artificial Intelligence-driven investment process available to the market through a simple and easy to understand equity investment strategy and in a regulated fund format, which would make our strategy available for professional investors,” he adds.
SureFire Capital Multi-Strategy Hedge Fund Secures Top Preqin Ranking (Hedge Week)
SureFire Capital’s SureFire Multi-Strat has secured a top ranking from global data provider Preqin. The multi-strategy fund was ranked No1 by Preqin as of 30 September, 2020 in four different Hedge Fund of Funds categories: Year-to-date 2020 net return, Cumulative 12-month and three-year annualised returns, and Sharpe Ratio. SureFire Capital’s Investment Club, formed in 2016 with five members, now exceeds 1,100 family office and high net worth investors from multiple countries.
Nvidia Corp (NVDA) President and CEO Jen Hsun Huang Sold $53.6 million of Shares (Guru Focus)
President and CEO of Nvidia Corp., Jen Hsun Huang, sold 100,000 shares of NVDA on 12/01/2020 at an average price of $535.57 a share. The total sale was $53.6 million. NVIDIA Corp is a developer of graphics processing unit. It caters to areas like gaming, professional visualization, datacenter and automobiles.
Preqin Special Report: The Future of Alternatives 2025 (Preqin)
Based on our forecast model and insight from over 100 fund managers and 100 investors, we provide a detailed forecast of what the alternatives industry could look like in 2025. We analyze what the next five years hold for each asset class and region, explore changes underway in the investor universe, and identify the megatrends driving change in the industry. We expect AUM growth in alternative assets to average 9.8% per year to 2025. Persistently low interest rates will attract investors of all types drawn to the promise of outperformance, diversification, and lower correlation with public markets. Among our key predictions, private equity will top $9tn in assets by 2025, and Asia’s AUM will grow at a world-beating CAGR of 25.2%.
Friday 12/4 Insider Buying Report: KHC, HRL (Nasdaq.com)
On Wednesday, Kraft Heinz’s Director, Elio Leoni Sceti, made a $2.99M buy of KHC, purchasing 90,000 shares at a cost of $33.22 a piece. Sceti was up about 2.0% on the buy at the high point of today’s trading session, with KHC trading as high as $33.88 at last check today. Kraft Heinz is trading up about 1% on the day Friday. And also on Wednesday, Senior Vice President Steven J. Lykken bought $322,815 worth of Hormel Foods, buying 6,873 shares at a cost of $46.97 a piece. This purchase marks the first one filed by Lykken in the past twelve months. Hormel Foods is trading down about 0.1% on the day Friday. So far Lykken is in the green, up about 1.0% on their purchase based on today’s trading high of $47.44.
The Divisional Chief Operating Officer of Magna International is Exercising Options (Analyst Ratings)
Today it was reported that the Divisional Chief Operating Officer of Magna International (MGA), Tommy Joseph Skudutis, exercised options to sell 146,566 MGA shares for a total transaction value of $9.11M. Following Tommy Joseph Skudutis’ last MGA Sell transaction on August 14, 2020, the stock climbed by 10.2%. In addition to Tommy Joseph Skudutis, 2 other MGA executives reported Sell trades in the last month.
Lemonade Inc (LMND) Co-Founder & CEO Daniel A. Schreiber Sold $12.5 million of Shares (Guru Focus)
Co-Founder & CEO of Lemonade Inc, Daniel A. Schreiber, sold 168,750 shares of LMND on 12/03/2020 at an average price of $74.17 a share. The total sale was $12.5 million. Lemonade Inc has a market cap of $4.55 billion; its shares were traded at around $80.35 with and P/S ratio of 39.89.
Sanofi – SEC Nets $9.8M From AWOL Sanofi Insider Buying and Selling Suspect (FinTechZoom)
Legislation360 (December 3, 2020, 8:39 PM EST) – A New York federal decide dominated Wednesday {that a} Swiss businessman ignoring civil and legal instances accusing him of participating in insider buying and selling forward of Sanofi SA’s acquisition of Bioverativ Inc. owes the U.S. Securities and Alternate Fee $9.Eight million, down from the requested $14.Eight million.
