Per Johansson Embarks on D&G Journey (Hedge Nordic)
Stockholm (HedgeNordic) – After providing a new breath of life for Celina Fonder and Celina Hedgefond in particular, Per Johansson is joining Didner & Gerge as a co-portfolio manager of its flagship equity fund. Starting in early January 2023, Johansson will manage Didner & Gerge’s oldest and largest fund alongside Simon Peterson, who has been managing the SEK 37 billion vehicle since 2019. “The equity fund is an iconic fund with an outstanding historical return,” comments Johansson. The task of managing this fund is “one of the most interesting challenges one can have in this industry,” according to the Bodenholm founder.
Ken Griffin’s Citadel Hedge Fund Have Plenty Of Reasons To Celebrate This Year (The Street)
The year 2022 has been a great one for all of Citadel’s flagship hedge funds – each has achieved solid returns, even while the Dow and S&P are down 8% and 17% YTD, respectively. According to Citadel and Citadel Securities CEO Ken Griffin, his team members’ deep engagement has given the company a competitive advantage – Griffin plans on taking them all to Disney World as a thank you gift. Of note, however: Citadel Securities and other market makers have recently been accused of illegal trading practices by a biotechnology company.
Billionaire John Paulson Stands To Make $500 Million From Horizon’s Sale To Amgen (Forbes)
It’s not the greatest trade ever, but for hedge fund billionaire John Paulson, it wasn’t so bad either. Paulson’s firm, Paulson & Co., famously made $15 billion betting against subprime mortgages in the Great Financial Crisis of 2007 to 2009. Now it looks to pocket about $500 million from Amgen’s $27.8 billion acquisition of Horizon Therapeutics. Paulson & Co., which transitioned from a hedge fund to a family office in 2020, has owned a stake in Horizon Therapeutics since 2017, according to FactSet. The data provider estimates that Paulson paid an average of about $31 for the 6.1 million shares in the biopharmaceutical company.
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The Best Twitter Account to Follow Is One That Keeps Disappearing (Bloomberg)
Michael Burry has such a strong following among investors that traders picked his Twitter handle as the best – even after he once again deleted it. Almost a third of the 515 respondents in the latest MLIV Pulse survey last week voted for @michaeljburry as the best investor handle, with his popularity especially high among professional market participants.
Oil Hedge Funds’ Highs and Lows as Geopolitics Cloud Outlook (Reuters)
Hedge fund manager Doug King began 2022 thinking oil was cheap. The world, including China, was expected to recover from COVID lockdowns and demand would reignite energy markets. Then, Russia invaded Ukraine. Hedge funds, including King’s, expected to see prices spike and they did for a while, before falling.
Tiger Global Startup Investments Drop 70% in 11 Months of 2022 as Funding Winter Worsens (Money Control)
In terms of value, Tiger Global has slowed in India this year, as it has globally, shows data. Tiger Global invested $807 million in the first eleven months of 2022, a 70 percent decrease from the previous year’s total of $2.75 billion. Tiger Global Management, one of the world’s most aggressive technology investors, has demonstrated its confidence in India this year by continuing to deploy capital, albeit on a smaller scale, while slowing investments elsewhere in the world due to macroeconomic headwinds.
Monday 12/12 Insider Buying Report: PRCH, CRON (Nasdaq.com)
On Friday, Porch Group’s CEO, Matt Ehrlichman, made a $501,509 purchase of PRCH, buying 278,273 shares at a cost of $1.80 a piece. So far Ehrlichman is in the green, up about 8.2% on their buy based on today’s trading high of $1.95. Porch Group is trading up about 7.1% on the day Monday. Before this latest buy, Ehrlichman bought PRCH on 4 other occasions during the past twelve months, for a total investment of $2.41M at an average of $3.64 per share. And at Cronos Group, there was insider buying on Wednesday, by Director Jason Marc Adler who purchased 156,000 shares for a cost of $2.96 each, for a trade totaling $461,268. Before this latest buy, Adler purchased CRON at 5 other times during the past twelve months, for a total cost of $1.53M at an average of $3.03 per share. Cronos Group is trading up about 0.7% on the day Monday. Investors have the opportunity to pick up CRON at a price even lower than Adler did, with shares trading as low as $2.83 in trading on Monday — that’s 4.1% below Adler’s purchase price.
Insider Trading: December 12, 2022 (BIV.com)
Insider Daniel Thomas MacInnis, director. Company: Mag Silver Corp. (TSX:MAG). Shares owned: 137,588. Trade date: Nov. 24, 25. Trade total: $560,575. Trade: Sale of 26,500 shares at prices from $21.05 to $21.16 per share. Insider Ian Slater, director. Company: Zacapa Resources Ltd. (TSX-V:ZACA). Shares owned: 10,000,000. Trade date: Nov. 25, 28. Trade total: $320,000. Trade: Acquisition of 5,600,000 shares at prices from $0.05 to $0.10 per share.
$49.5 Million Bet On Howard Hughes? Check Out These 4 Stocks Insiders Are Buying (Benzinga)
Howard Hughes: The Trade: The Howard Hughes Corporation (HHC) Director William Ackman bought a total of 657,160 shares at an average price of $75.26. To acquire these shares, it cost around $49.45 million. Datadog: The Trade: Datadog, Inc. (DDOG) Director Matthew Jacobson acquired a total of 192,154 shares an average price of $69.35. To acquire these shares, it cost around $13.33 million.
Cramer Rosenthal McGlynn Partners with Linedata (Hedge Week)
Cramer Rosenthal McGlynn (CRM), a US based hedge fund firm focused on long/short, global equity, and value investing, has partnered with Linedata, a provider of asset management and credit technology data and services. CRM has implemented robust investment operations that aim to maximise efficiency and mitigate risk by reducing manual processes spread across multiple internal systems, which has been in place for several years, including through the previous vendor.
