Bill Miller’s Fund Crushed the Market for a Record 15 Straight Years. Here’s How the Legendary Investor recently Applied His Long-term Approach to Companies Like Uber and Lemonade – and the Assets He’s Betting on for Future Returns. (Business Insider)
Bill Miller‘s mutual funds beat the stock market for 15 years in a row in the 1990s and 2000s, and he’s still bringing in strong returns at his firm Miller Value Partners. Miller recently detailed his thinking on several asset classes and the state of the broader market. Co-manager Samantha McLemore explained recent trades she and Miller made in the firm’s Opportunity Trust, one of the top funds in its class for the last few years.
Ray Dalio on Election Day 2020: US Needs Less Polarization Because ‘the System is in Jeopardy’ (MSN Money)
As the U.S. votes to elect the next president, hedge fund luminary Ray Dalio cites political polarization as the “greatest problem of our time”— worsened by people being “passionately attached to their opinions” and unable to disagree thoughtfully. Amid a still-unfolding and highly divisive election cycle, the founder of the $138 billion Bridgewater Associates hedge fund — the world’s largest — explained why he isn’t confident the country can return to civility. “I’m not optimistic that we can get there, but I do know that we can get there if people are fearful of the consequences of not getting there,” Dalio told Yahoo Finance in an extended interview.
Ackman Stumbles in October (Institutional Investor)
It’s the first down quarter for Pershing Square since 2018, and comes in a hot year-to-date. The stock market’s October swoon sent Bill Ackman’s Pershing Square Holdings hedge fund down 2.2 percent for the month, an abrupt change from the big gains it’s been chalking up all year.Pershing Square Holdings, Ackman’s publicly traded hedge fund, is still up 43.7 percent — making it one of the…
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Ken Griffin’s Macro ‘Dream’ Propels Net Worth to $20 Billion (Bloomberg)
Ken Griffin was facing a calamity. As Covid-19 roiled the economy in March, equities tanked and bond markets went haywire. Hedge funds run by Griffin’s Citadel were taking losses as the computer models that guide some of their decisions struggled to comprehend the pandemic.
Ample Opportunities in Nordic Private Debt Market (Hedge Nordic)
Stockholm (HedgeNordic) – COVID-19 struck many small and medium-sized companies hard in the earlier part of 2020, leaving loans directed towards these entities at risk. Despite the current challenging conditions, Fredrik Sjöstrand and Peder Broms, who are managing the Scandinavian Credit Fund I – a direct lending fund focusing on the Nordics, see ample opportunities in the Nordic private debt market and have managed to show solid performance numbers in what has been unprecedented markets for direct lending in the Nordic region and elsewhere. “The situation has improved strongly since the COVID-19 outbreak and we are in a very interesting position in terms of deal flow.
The Tiger 21 Club of Multimillionaire Investors Are Election-Proofing Their Assets (Bloomberg)
As the members of Tiger 21, a club of multimillionaire investors, await results from this year’s presidential election, they are bracing for change. In addition to seeking out investment opportunities in a landscape reconfigured this year by political and pandemic uncertainties, they are also highly focused on hedging against the tax policies of a potential Democratic administration through careful estate planning.
Alternatives, ESG and digitalisation on the Rise (Hedge Week)
By Stéphane Badey, Arendt – These are uncertain times, but three solid trends driving the Luxembourg investment funds market can be highlighted. 1. The continuous growth of the alternative investment strategies. Luxembourg has positioned itself as a jurisdiction of choice for alternative asset managers. As a consulting firm we are accompanying clients in their move to Luxembourg. This is made easier from a regulatory perspective by the adoption of a clear regulatory framework.
Ultragenyx Pharmaceutical Inc (RARE) EVP and General Counsel Karah Herdman Parschauer Sold $991,488 of Shares (Guru Focus)
EVP and General Counsel of Ultragenyx Pharmaceutical Inc, Karah Herdman Parschauer, sold 9,903 shares of RARE on 10/30/2020 at an average price of $100.12 a share. The total sale was $991,488. Ultragenyx Pharmaceutical Inc is biopharmaceutical company. It is engaged identification, acquisition, development and commercialization of novel products for treatment of rare & ultra-rare diseases, with a focus on debilitating genetic diseases.
The Vice-President of Caterpillar (NYSE: CAT) is Selling Shares (Analyst Ratings)
Yesterday, the Vice-President of Caterpillar (CAT), Ramin Younessi, sold shares of CAT for $3.16M. Following Ramin Younessi’s last CAT Sell transaction on August 05, 2020, the stock climbed by 29.1%. In addition to Ramin Younessi, 10 other CAT executives reported Sell trades in the last month.
Renasant Corp (RNST) EVP and CFO James C. Iv Mabry Bought $811,440 of Shares (Guru Focus)
EVP and CFO of Renasant Corp., James C. Iv Mabry, bought 28,000 shares of RNST on 11/02/2020 at an average price of $28.98 a share. The total cost of this purchase was $811,440. Renasant Corp is a part of the financial services sector. Its business involves the provision of community banking services, which includes checking and savings accounts, business and personal loans and interim construction loans.
Former President Obama Pushes Debunked ‘Insider Trading’ Lie About Sens. Loeffler and Perdue (Townhall)
Campaigning in Georgia ahead of election day, former President Obama regurgitated Democrat-led lies about GOP Sens. Kelly Loeffler and David Perdue. Both incumbent Senators were accused of insider stock trading after a closed coronavirus briefing in January. Likewise, both Senators were cleared of wrongdoing; the Department of Justice (DOJ) and bipartisan Senate Ethics Committee determined that neither Loeffler nor Perdue were guilty of using insider information for financial gain.
Monday 11/2 Insider Buying Report: GBDC, NXPI (Market Watch)
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy — they expect to make money. So let’s look at two noteworthy recent insider buys. On Wednesday, Golub Capital BDC’s Chairman, Lawrence E. Golub, made a $258,596 buy of GBDC, purchasing 20,000 shares at a cost of $12.93 each. Golub Capital BDC Inc is trading up about 1.6% on the day Monday. Before this latest buy, Golub purchased GBDC at 28 other times during the past year, for a total investment of $14.21M at an average of $12.84 per share.
