Andurand Floats Idea of 100% Tax for Squeezing Russian Oil Cash (Bloomberg)
For Europe, the biggest barrier to sanctioning Russian oil is the economic pain the continent would need to suffer. But one star hedge fund trader sees a way to soften the blow. Pierre Andurand, whose commodity fund made 109% in the first three months of the year, said on Twitter that instead of banning Russian barrels outright, European governments could impose a tax of 100%.
Goldman Sachs, Galaxy Digital Announce Milestone Over-The-Counter Crypto Trade (CNBC)
Goldman is the first major U.S. bank to trade crypto over the counter, CNBC was first to report. The bank traded a bitcoin-linked instrument called a non-deliverable option with crypto merchant bank Galaxy Digital, the firms said. The move is seen as a notable step in the development of crypto markets for institutional investors. Compared with the exchange-based CME Group bitcoin products Goldman began trading last year, the bank is taking on greater risk by acting as a principal in the transactions, according to the firms. “This trade represents the first step that banks have taken to offer direct, customizable exposures to the crypto market on behalf of their clients,” said Galaxy co-President Damien Vanderwilt.
Anaplan Activists Are Quickly Rewarded (Institutional Investor)
A sizable number of hedge funds are poised to benefit from the cloud computing company’s deal with Thoma Bravo. Well, that was quick.Just a few days after a pair of prominent activist hedge funds teamed up to threaten a proxy fight against cloud-based business planning software company Anaplan, private equity firm Thoma Bravo reached a deal to acquire the company for $66 per share, in an all-cash transaction valued…
Only Time will Tell if Billionaire Ken Griffin will be ‘All in’ for the Rest of the So-Called ‘Griffin Slate’ (Chicago Sun Times)
SPRINGFIELD — They have been dubbed “The Griffin Slate,” based on the expectation that the Republicans running together for some of the state’s top offices will enjoy the financial backing of Ken Griffin, the richest person in Illinois. But other than GOP candidate for governor Richard Irvin, none of the others on the slate has reported receiving any contributions from the hedge-fund billionaire — or many large donations from anyone else in the two months they’ve been running for statewide office.
Insider Trading: March 21, 2022 (BIV.com)
Insider: Daniel Joseph Daviau, officer. Company: Canaccord Genuity Group Inc. (TSX:CF). Shares owned: 242,860. Trade date: March 7. Trade total: $1,175,000. Trade: Acquisition of 100,000 shares at a price of $11.75 per share. Insider: Graham Campbell Thody, director. Company: SilverCrest Metals Inc. (TSX:SIL). Shares owned: 218,571. Trade date: March 4. Trade total: $1,505,000. Trade: Sale of 125,000 shares at a price of $12.04 per share.
Monday 3/21 Insider Buying Report: NTRA, BMBL (Nasdaq.com)
On Wednesday, Natera’s Director, Roelof Botha, made a $5.01M buy of NTRA, purchasing 153,000 shares at a cost of $32.72 each. Botha was up about 25.8% on the purchase at the high point of today’s trading session, with NTRA trading as high as $41.16 in trading on Monday. Natera is trading off about 0.9% on the day Monday. And on Thursday, Director Amy Griffin bought $998,624 worth of Bumble, buying 35,200 shares at a cost of $28.37 a piece. Before this latest buy, Griffin made one other buy in the past twelve months, purchasing $5.03M shares at a cost of $42.81 a piece. Bumble is trading off about 2.1% on the day Monday.
Intel’s CEO Bought His Own Stock—Should You? (Forbes)
Semiconductor chips are a strategic commodity. For the past few years, people have been saying that Intel (INTC) is at a disadvantage because most of its fabs (fabrication plants) are in the U.S. Chips can be produced more cheaply in Asia. Based in Santa Clara, California, Intel is the largest U.S. chip maker.
