Through Foul and Fair – the All-Weather Investment Plan (InvestorsChronicle.co.uk)
You know there is a bear market prowling because Ray Dalio has been gathering a lot of attention lately. Dalio, one of the richest and most successful investors on the planet, is worth listening to at any time but especially when markets are running scared. That’s chiefly because his firm, Bridgewater Associates, which runs $140bn (£115bn) or so, is best known for putting the ‘hedge’ into hedge funds.
Hedge Fund Cannell Capital Acquires 13% Stake in Nueronetics (Hedge Week)
Activist hedge fund Cannell Capital has acquired close to a 13% stake in medical device company Neuronetics, according to a report by the Philadelphia Business Journal, and is now seeking a seat on the company’s board. The report cites documents filed by Euroentics with the US Securities and Exchange Commission (SEC) as revealing that the Wyoming-based hedge fund has acquired in excess of 3.46 million shares of the business for $29.1 million which represents a 12,94% stake.
Griffin Blows Nearly $418 per Vote for Irvin’s Doomed Campaign for Governor — Worst Political Investment in Illinois History (Audacy)
CHICAGO — As a billionaire hedge fund titan, Ken Griffin has certainly taken some losses while amassing Illinois’ largest fortune, but he’s probably not used to the massive hit he took on election night. Griffin poured $50 million into Aurora Mayor Richard Irvin’s campaign, only to see his pick for the Republican nomination for governor finish a distant third Tuesday at a cost of more than $400 per vote — the worst political investment in Illinois history, according to a Sun-Times analysis.
Source: pexels
Singapore Central Bank Reprimands Crypto Hedge Fund Three Arrows, Saying It Flouted Rules (The Wall Street Journal)
Singapore’s top financial regulator reprimanded the cryptocurrency hedge fund Three Arrows Capital, saying it supplied false information to officials and managed more assets than allowed. The firm, which was recently ordered to liquidate by a court in the British Virgin lslands, previously gave false or misleading information to regulators when it transferred management of its fund in September 2021 to an entity located in the offshore tax haven, the Monetary Authority of Singapore said Thursday. In doing so, Three Arrows didn’t disclose that one of its founders was a common shareholder in both entities.
Explainer: Nuts and Bolts of the LME’s Cancelled Nickel Trades Legal Case (Reuters)
LONDON, June 30 (Reuters) – Hedge fund Elliott Associates and Jane Street Global Trading are suing the London Metal Exchange for up to $500 million after the LME cancelled nickel trades on March 8 when prices soared to record highs above $100,000 a tonne in chaotic trade. The nickel trading debacle is the biggest crisis to hit the world’s oldest metals forum in decades. Suspension of trading on March 8 left consumers and producers without key benchmark prices and damaged the 145-year-old LME’s reputation.
Safer With an Active Asset Management Approach Than with None or a Passive One (Advisor Perspectives)
In the light of multiple discussions raised in AP community about strategies that help investors through market downturns, we would like to share a perspective on advantages of an active asset management approach or so-called actively traded hedge-fund strategy based on the example of a classic long-short US equity strategy. The stock market indices are currently down 25-40%, and many investors are panicking trying to get rid of value-shedding portfolio assets. Is there anything investors can do to protect their funds and spare themselves an unnecessary nerve-wracking experience? The answer is yes, actively traded long-short hedging approaches can generate sustainable positive returns over the entire short-term to a mid-term lifetime of an investment portfolio.
The Market is Facing ‘a Vicious Stagflationary Environment’, Says a Hedge Fund Chief Who Returned 40% this Year. He Shares 5 Reasons the Economy is Spiraling into a Recession — and 3 Ways Investors can Navigate This Precarious Situation. (Business Insider)
The biggest debate on Wall Street right now is whether the US economy will tip into a recession either this year or early next. Leading banks are updating their outlooks at a rapid pace. Goldman Sachs analysts now believe there’s a 30% chance that a recession could occur in the next 12 months, up from 15% previously. Morgan Stanley economists are also updating their outlook to a 35% chance, up from 20% previously. For the founder and chief investment officer of hedge fund Crescat Capital, Kevin Smith there is little to debate.
Scotiabank Canadian Hedge Fund Index Ends May -1.73% on Asset-Weighted Basis, -2% YTD (Opalesque.com)
Opalesque Industry Update – The Scotiabank Canadian Hedge Fund Index ended May 2022 down -1.73% MOM on an asset-weighted basis and down -2.03% MOM on an equal-weighted basis. The comparable benchmark indices were both up slightly for the month, with the S&P TSX 60 Total Return Index and S&P 500 Total Return Index posting increases of 0.15% and 0.18% respectively.
Senvest Goes Big on Two Core Holdings (Institutional Investor)
The hedge fund known for the huge gains it raked in from its 2021 GameStop gambit made two major purchases in June. Senvest Management has heavily boosted its stake in timeshare giant Marriott Vacations Worldwide, one of its largest positions, by more than 37 percent. The move lifted the firm’s share of the outstanding shares to 5.16 percent, according to a 13G filing dated June 23.
Thursday 6/30 Insider Buying Report: PLCE, VINC (Nasdaq.com)
At Children’s Place, a filing with the SEC revealed that on Wednesday, Director John E. Bachman purchased 1,500 shares of PLCE, for a cost of $38.50 each, for a total investment of $57,750. Children’s Place is trading down about 2.4% on the day Thursday. Before this latest buy, Bachman made one other buy in the past twelve months, purchasing $122,075 shares at a cost of $48.83 a piece. And at Vincerx Pharma, there was insider buying on Monday, by Raquel E. Izumi who purchased 40,000 shares for a cost of $1.41 each, for a total investment of $56,312. This buy marks the first one filed by Izumi in the past twelve months. Vincerx Pharma is trading trading flat on the day Thursday. Investors are able to bag VINC even cheaper than Izumi did, with shares changing hands as low as $1.28 in trading on Thursday which is 9.1% under Izumi’s purchase price.
Dropbox And 2 Other Stocks Insiders Are Selling (Benzinga)
Booz Allen Hamilton Holding: The Trade: Booz Allen Hamilton Holding Corporation (BAH) Executive Vice President Karen M Dahut sold a total of 50,068 shares at an average price of $89.06. The insider received around $4.46 million from selling those shares. AutoNation: The Trade: AutoNation, Inc. (AN) 10% owner Edward S. Lampert sold a total of 77,619 shares at an average price of $117.55. The insider received around $539.21 thousand as a result of the transaction.
