Ray Dalio’s China Fascination Predates His Ties to Beijing’s Billions (Bloomberg)
The visitors from China arrived in affluent Westport, Connecticut, on a singular mission: to learn the ways of Bridgewater Associates, the world’s largest hedge fund. These officials from the nation’s sovereign wealth fund were invited by none other than the founder, Ray Dalio, who has spent decades quietly cultivating Beijing.
Social Gaming Firm Rec Room Valued at $3.5 bln in Coatue-Led Funding Round (Reuters)
Dec 20 (Reuters) – Social gaming platform Rec Room said on Monday it fetched a valuation of $3.5 billion after raising $145 million in a funding round led by hedge fund Coatue Management, riding on the pandemic-fueled boom in digital entertainment.
Hedge Funds Spooked by Luckin Comparison (Institutional Investor)
Which Tiger funds would be hurt the most if Muddy Waters is right about KE Holdings? Another popular hedge fund stock found itself in the crosshairs of a high-profile short artist.Shares of Chinese real estate broker KE Holdings fell nearly 2 percent on Thursday, after Muddy Waters Research published a 77-page report asserting that the company has committed “significant” fraud, along the lines of the malfeasance…
Photo by Austin Distel on Unsplash
Hedge Fund that Targets “Extreme Profits” Up 14% YTD (Opalesque)
“Buying at a deep discount can atone for a multitude of sins,” says Steven Grey who manages a long/short portfolio of extremely mispriced securities. This manager’s investment philosophy is to invest in extremely mispriced securities that provide an irresistible risk/reward profile and potential for extreme profit. And that philosophy has yielded very good results for his fund of late. Grey will present at the Small Managers – Big Alpha Episode 6 webinar on January 11th, 2022. “We target extreme profits…,” he explained to Money Life earlier this year. “Prices are obviously the primary drivers of returns. When you are targeting extreme profits, you are simultaneously targeting a large margin of safety, that kind of classic value approach.
Redhedge’s Relative Value UCITS Fund Surpasses EUR100 Million (Hedge Week)
Redhedge Asset Management’s (Redhedge) Relative Value UCITS fund has surpassed EUR100 million in assets under management less than one year after its inception. The UCITS fund has been launched to meet demand from institutional investors, such as pension funds and family offices, that cannot invest in non-UCITS products and are searching for a product that is decorrelated from major financial markets. The fund will be managed by Andrea Seminara, CIO and CEO, and Voon Kiat Lai, Senior Portfolio Manager.
Hedge Funds Need Rate Hikes After Nailing Fed’s Hawkish Pivot (Bloomberg Quint)
(Bloomberg) — The stars are aligned for hedge funds, which have been aggressively selling Treasuries in anticipation of hawkish turns by global central banks. Now they just now need the Federal Reserve to deliver on its rate hike projections. Investors domiciled in the Cayman Islands — a British Overseas Territory used as a base for hedge funds and other leveraged investors — sold almost $54 billion of Treasuries in October, more than four times the largest net sales for any other region. That’s on top of $34 billion of sales the month before, as shown in U.S. Treasury data released Dec. 16.
Friday 12/17 Insider Buying Report: EVBG, ARHS (Nasdaq.com)
At Everbridge, a filing with the SEC revealed that on Tuesday, Director Bruns H. Grayson bought 10,000 shares of EVBG, at a cost of $67.08 each, for a total investment of $670,800. Everbridge is trading up about 7.8% on the day Friday. This buy marks the first one filed by Grayson in the past twelve months. And at Arhaus, there was insider buying on Tuesday, by Chief Financial Officer Dawn Phillipson who bought 50,000 shares for a cost of $11.62 each, for a total investment of $581,000. This buy marks the first one filed by Phillipson in the past year. Arhaus is trading up about 8.5% on the day Friday.
The Shareholder of Altus Strategies (Other OTC: ALTUF) is Buying Shares (Analyst Ratings)
Yesterday, the Shareholder of Altus Strategies (ALTUF), Yousriya Loza-Sawiris, bought shares of ALTUF for $6.93M. This recent transaction increases Yousriya Loza-Sawiris’ holding in the company by 46% to a total of $33.83 million. In addition to Yousriya Loza-Sawiris, 6 other ALTUF executives reported Buy trades in the last month. Currently, Altus Strategies has an average volume of 500. ALTUF’s market cap is $70.39 million and the company has a P/E ratio of -6.88. The company has a one-year high of $1.29 and a one-year low of $0.77.
Saba Capital Income & Opportunities Fund Announces Increase in the Managed Distribution to an Annual Fixed Rate of 12% (BusinessWire)
NEW YORK — (BUSINESS WIRE) — Saba Capital Income & Opportunities Fund (NYSE: BRW) (the “Fund”) today announced that its Board of Trustees has approved an increase in the annual targeted distribution rate under the Fund’s managed distribution plan from 8% to 12%. Accordingly, beginning with the first distribution paid in January 2022, the Fund will make monthly distributions to shareholders at an annual minimum fixed rate of 12.00%, based on the average monthly NAV of the Fund’s common shares. The Fund will calculate the average NAV from the previous month based on the number of business days in that month on which the NAV is calculated.
U.S. Authorities Charge Chicago Doctor with Insider Trading (Reuters)
WASHINGTON, Dec 20 (Reuters) – U.S. authorities have charged a Chicago doctor with insider trading, accusing him of using nonpublic information about drug trial results to reap illicit profits from buying shares of a California-based biotechnology company.
