Warren Buffett’s Berkshire Hathaway is in Talks to Partner with Mitsui, the Japanese Trading Group’s CEO Says (Business Insider)
Warren Buffett’s Berkshire Hathaway is exploring partnerships with Mitsui, the Japanese trading group’s boss told Nikkei Asian Review in a recent interview. “We have been in discussions to identify where we can collaborate on new business and where there are mutual benefits in using our global network,” Mitsui CEO Tatsuo Yasunaga told the newspaper.
Investors Start Giving Way on Office Visits (GreenStreet.com)
Evidence continues to build that investors are getting comfortable parking capital with hedge funds without the benefit of on-site reviews. Before the coronavirus pandemic, major investors’ due-diligence processes almost universally included visits during which they looked over the managers’ infrastructures and watched their traders in action. Many initially stuck with those policies as stay-at-home orders took effect in March, meaning any fresh commitments had to go to firms they already examined in person. Now, it appears the long-term nature of the crisis has led to an adjustment. As one prime-brokerage executive put it: “You can’t just keep topping up with the managers already in your portfolio.”
UK Watchdog Fines Fund ARCM Over Premier Oil Short Selling Breaches (Reuters)
LONDON (Reuters) – Britain’s markets watchdog fined hedge fund Asia Research and Capital Management (ARCM) on Wednesday for a lack of transparency over a short position in Premier Oil PMO.L, the first such penalty for a breach of short-selling rules. The Financial Conduct Authority (FCA) fined Hong Kong-based ARCM 873,118 pounds ($1.13 million) for repeatedly breaching reporting rules and failing to provide important information to both the regulator and the market.
Archer-daniels Midland Co (ADM) President & CEO Juan R Luciano Sold $2.9 million of Shares (Guru Focus)
President & CEO of Archer-Daniels Midland Co., Juan R Luciano, sold 57,424 shares of ADM on 10/12/2020 at an average price of $50.01 a share. The total sale was $2.9 million. Archer-Daniels Midland Co is a major processor of oilseeds, corn, wheat, and other agricultural commodities. The company’s end products include vegetable oil and meal, corn sweeteners, flour, feed ingredients, and ethanol.
The Lead Independent Director of Enghouse Systems (Other OTC: EGHSF) is Selling Shares (Analyst Ratings)
Today, the Lead Independent Director of Enghouse Systems (EGHSF), Pierre Lassonde, sold shares of EGHSF for $44.21M. In addition to Pierre Lassonde, one other EGHSF executive reported Sell trades in the last month. Based on Enghouse Systems’ latest earnings report for the quarter ending July 31, the company posted quarterly revenue of $131 million and quarterly net profit of $25.99 million.
Mayfair Hedge Fund Takes £140m Stake in British Airways Owner (CityA.M.)
One of the UK’s largest hedge funds has taken out a large position in embattled British Airways owner IAG amid the worst crisis in aviation history. £35bn Marshall Wace today disclosed a three per cent stake in the airlines group, making it one of IAG’s largest stockholders. The Mayfair-based fund has previously taken out short positions against European flag carriers such as Lufthansa and Air France. Both of those carriers have already been on the receiving end of nearly €20bn of state aid from their respective governments.
Lam Research Corp (LRCX) President and CEO Timothy Archer Sold $5.7 million of Shares (Guru Focus)
President and CEO of Lam Research Corp., Timothy Archer, sold 15,540 shares of LRCX on 10/12/2020 at an average price of $370 a share. The total sale was $5.7 million. Lam Research Corp functions in the semiconductor industry. It develops and sells semiconductor processing systems that are used in the fabrication of integrated circuits.
A Director at Arrowhead Pharmaceuticals (NASDAQ: ARWR) is Selling Shares (Analyst Ratings)
Yesterday, a Director at Arrowhead Pharmaceuticals (ARWR), Mauro Ferrari, sold shares of ARWR for $480K. Following Mauro Ferrari’s last ARWR Sell transaction on June 28, 2019, the stock climbed by 19.9%.
