Ray Dalio Opens Up about Son’s Tragic Death: ‘It was Like a Bomb Went Off that Tore… Our Family Up’ (Fox Business)
Billionaire hedge fund founder Ray Dalio on Wednesday opened up about his son’s death, just weeks after the deadly Connecticut car crash that “tore” up his family. In December, Ray Dalio’s son, Devon, was killed when the Audi he was driving crashed into a Verizon store at a shopping center in Greenwich and burst into flames. He suffered from smoke inhalation and thermal injuries, which led to his death, officials confirmed to Fox News.
Citadel and Reddit Executives Expected at GameStop Hearing (The New York Times)
Kenneth C. Griffin, the billionaire hedge fund manager, may be among the executives who testify at next week’s Congressional hearing about the recent madcap trading in shares of GameStop that bruised many big investors, a person with knowledge of the matter said. Mr. Griffin’s firm, Citadel, was a central player in the GameStop drama both because of its investments and the role of its sister company, Citadel Securities, as a market maker in stocks. It was asked to make an executive available for the Feb. 18 hearing scheduled by the House Financial Services Committee, this person said, but the company is still waiting to hear whether the committee will call Mr. Griffin or another executive.
Sculptor Hedge Fund Hits Sixth Straight Year of Outflows (Pensions & Investments)
Sculptor Capital Management incurred withdrawals of $92 million from its flagship hedge funds in the fourth quarter, capping 2020 with its sixth straight year of outflows. The withdrawals from the Sculptor Master Fund and associated portfolios brought the 2020 total to $464 million, according to a statement Thursday from the New York-based firm. Over the past six years, clients have pulled about $30 billion from those products. Sculptor, formerly known as Och-Ziff, was founded in 1994 by billionaire Daniel Och. The outflows began after it was disclosed that it was the target of a bribery probe into its business in Africa in late 2014.
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Alden Is in Talks to Buy Tribune Publishing (The Wall Street Journal)
A hedge fund that owns a big stake in Tribune Publishing Co. is in talks to buy the newspaper chain behind titles including the Chicago Tribune and New York Daily News. Alden Global Capital LLC, Tribune’s largest shareholder with a 32% stake, is discussing a deal with the publishing company to buy the shares it doesn’t already own, according to people familiar with the matter. A deal for Tribune could be reached this month, the people said, though they cautioned that the negotiations are far from over and could still fall apart.
And the EuroHedge Awards Go To… (Hedge Nordic)
Stockholm (HedgeNordic) – EuroHedge has announced the winners of its 20th annual flagship awards, with the list of winners featuring six Nordic hedge funds. Accendo Capital, Alcur Select, KLP Alfa Global Energi, Lynx, Nordic Cross Stable Return, and Proxy Renewable Long/Short Energy were awarded on February 11 in a ceremony staged virtually because of the Covid-19 pandemic. The EuroHedge Awards aims to highlight the best risk-adjusted performers in the European hedge fund industry, with the nominations and eventual winners decided by an entirely quantitative process based on a combination of Sharpe ratios and absolute returns.
Hedge Fund Tybourne Made Big Changes To Its Portfolio in the Fourth Quarter (Institutional Investor)
The Tiger-affiliated firm made three significant new investments and liquidated two major holdings. Tybourne Capital Management, a Hong Kong hedge fund with ties to Tiger Management, shook up its portfolio in the fourth quarter. The long-short equity fund established a large new stake in MongoDB, a high-flying database software company, according to its fourth-quarter 13F filing, made public Thursday morning.
Activist Hedge Fund Praises Pat Gelsinger as CEO: ‘Opportunity Is Enormous’ (Toms Hardware)
Dan Loeb, the head of hedge fund Third Point, this week praised Intel’s decision to appoint Pat Gelsinger as its new CEO. Third Point plans to remain a long-term shareholder of Intel and believes that the company has an extraordinary potential. Previously, the hedge fund called on Intel to explore spinning off its manufacturing operations, divest certain acquisitions, and stop brain drain.
Friday 2/12 Insider Buying Report: GBX, PW (Nasdaq)
On Wednesday, Greenbrier Companies’ CEO, William A. Furman, made a $2.18M purchase of GBX, buying 50,000 shares at a cost of $43.57 a piece. Furman was up about 7.0% on the purchase at the high point of today’s trading session, with GBX trading as high as $46.61 at last check today. Greenbrier Companies is trading up about 6.9% on the day Friday. This purchase marks the first one filed by Furman in the past twelve months. And at Power REIT, there was insider buying on Wednesday, by Director Patrick R. Haynes III who purchased 11,507 shares at a cost of $26.50 each, for a total investment of $304,936. This purchase marks the first one filed by Haynes III in the past year. Power REIT is trading up about 1.9% on the day Friday. So far Haynes III is in the green, up about 39.8% on their purchase based on today’s trading high of $37.05.
The President & Chief Executive Officer of Allied Properties Real Estate Investment Trust (Other OTC: APYRF) is Buying Shares (Analyst Ratings)
Today, the President & Chief Executive Officer of Allied Properties Real Estate Investment Trust (APYRF), Michael R Emory, bought shares of APYRF for $99.82K. Following Michael R Emory’s last APYRF Buy transaction on November 03, 2020, the stock climbed by 3.5%.
Intuitive Surgical Inc (ISRG) Executive VP & CFO Marshall Mohr Sold $10 million of Shares (Guru Focus)
Executive VP & CFO of Intuitive Surgical Inc, Marshall Mohr, sold 12,487 shares of ISRG on 02/11/2021 at an average price of $800 a share. The total sale was $10 million. Intuitive Surgical Inc designs, manufactures, markets da Vinci Surgical Systems, and related instruments. The da Vinci surgery, combines the benefits of minimally invasive surgery for patients with the ease of use, precision and dexterity of open surgery.
