Hedge Funds Invest In Crypto (Forbes)
Many leading hedge funds are aggressively increasing exposure to blockchain technologies and cryptocurrency. This week Antigua-based crypto derivatives exchange FTX closed a record $900 million fundraise at an $18 billion valuation. Hedge fund leaders Paul Tudor Jones, Alan Howard, Third Point and Millennium were among those participating in the funding. FTX has quickly become one of the main challengers to Coinbase and Finance. FTX averages more than $10 billion in daily trading volume and has more than 1 million users, ranging from retail investors to sophisticated day traders, family offices and experienced institutional traders.
Inside Louis Bacon’s mysterious $500M private island in the Hamptons (New York Post)
You’ve probably never heard of Robins Island, a teardrop-shaped islet half the size of Central Park in the Great Peconic Bay on the East End of Long Island. But it may very well be the most valuable private estate in all of the Hamptons – and the most untouchable. Sandwiched midway between the North and South forks, Robins Island is roughly 435 acres with miles and miles of waterfront.
Archegos Blowup Spurs House Democrats’ Demands for Tougher Rules (Bloomberg)
A push by Democrats to tighten market rules in response to the implosion of Archegos Capital Management and this year’s meme-stock mania is gaining traction in the U.S. House. The Financial Services Committee, led by Representative Maxine Waters of California, may hold votes as soon as next week on legislation that could have broad consequences for hedge funds, online brokers and powerful trading firms, said people familiar with her plans.
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Now Anyone Can Use Ray Dalio’s Instant-Feedback Tool on Zoom—if They Dare (Quartz)
Bridgewater founder Ray Dalio is known for his hedge fund’s unusual experiments in management. They include the famous “Dot Collector” system, in which all Bridgewater employees are tasked with giving one another real-time feedback on an iPad app during meetings and presentations. An outgrowth of Dalio’s commitment to building a culture of radical transparency, the dot system prompts employees to rate one another, on a scale of 1 to 10, on attributes like how well they listen or display “managerial courage.”
Billionaire Investor Leon Cooperman Rules Out an Imminent Market Crash, Trumpets ‘Big Tech’ Stocks, and Sounds the National-Debt Alarm in a New Interview. Here are the 10 Best Quotes (Business Insider)
Leon Cooperman ruled out an imminent market crash, warned that stimulus efforts are ballooning the national debt to dangerous levels, and emphasized the appeal of “big tech” stocks in a CNBC interview this week. The billionaire investor, who converted his Omega Advisors hedge fund into a family office in 2018, also dismissed government bonds as virtually worthless and some meme stocks as ridiculously overvalued.
Equities and Alternatives Drive AP1’s Returns (Hedge Nordic)
Stockholm (HedgeNordic) – The Swedish national pension fund Första AP-fonden (AP1), which had SEK 431.5 billion under management at the end of June, enjoyed a return of 10.9 percent after expenses during the first half of 2021, with equities, real estate and private equity generating most of the returns. AP1’s investments in private equity, Swedish public equities and hedge funds enjoyed the highest returns in percentage terms. “The Fund’s constructive view of risk-taking was well rewarded financially during the first six months of the year.
What Did This CEO Just Do with Personal Shares of WD-40 Company (NASDAQ: WDFC)? (Analyst Ratings)
Yesterday, the CEO & COB of WD-40 Company (WDFC), Garry Ridge, sold shares of WDFC for $6.01M. Following Garry Ridge’s last WDFC Sell transaction on November 11, 2010, the stock climbed by 218.8%. This is Ridge’s first Sell trade following 4 Buy transactions. Based on WD-40 Company’s latest earnings report for the quarter ending May 31, the company posted quarterly revenue of $136 million and quarterly net profit of $21.01 million.
Quant Hedge Fund Pioneer Aspect Capital Unveils UCITS Core Diversified Strategy (Hedge Week)
Systematic hedge fund and CTA pioneer Aspect Capital has unveiled a new daily-liquid UCITS-compliant version of its Aspect Core Diversified Programme, a medium-term quantitative trend-following strategy, to capitalise on growing demand for uncorrelated returns amid rising market uncertainty. Originally launched in 2014, the computer-driven strategy – which today has some USD1.5 billion in assets – looks to generate alpha by zeroing in on a range of medium-term trend opportunities across more than 100 liquid financial and commodity markets.
Hedge Funds Harvest the Gap Between Active and Passive (AFR)
The conventional wisdom is that the rise of low-cost, passive index tracking funds has gradually hollowed out the higher cost active managers who have simply failed to deliver the performance to justify their fees. This is largely right. But there’s a postscript to the story of the rise of passive management and exchange traded funds.
Hedge fund Dark Forest Technologies installs FlexTrade OEMS (The Trade)
US systematic hedge fund Dark Forest Technologies has gone live with the order and execution management system (OEMS) from FlexTrade. The trading systems provider said Dark Forest will use its FlexONE system to consolidate all quantitative and systematic trading capabilities onto a single platform and use its real-time trading APIs to automate orders.
How Coatue’s Arielle Zuckerberg Convinced a Hot Pandemic Startup to Quit Fundraising and Sign a Deal with a Hedge Fund (Business Insider)
LiveControl is one of the startups that prospered through a year in quarantine, with its video streaming kit that lets people set up cameras before an event and pass the controls to a remote operator, who records and switches camera angles. On Wednesday, the Los Angeles-based company revealed a $30 million funding round led by Coatue Management, just months after it closed a $3.2 million seed round. The hedge fund swooped in the same week that the founders started taking meetings with venture capitalists, and quickly convinced them to shut down the process and sign a term sheet.
Cosmos Holdings Inc (COSM) CEO Grigorios Siokas Bought $1.3 million of Shares (Guru Focus)
CEO of Cosmos Holdings Inc, Grigorios Siokas, bought 208,333 shares of COSM on 07/19/2021 at an average price of $6 a share. The total cost of this purchase was $1.3 million.
The President & CEO of Colfax (NYSE: CFX) is Buying Shares (Analyst Ratings)
Yesterday, the President & CEO of Colfax (CFX), Matthew Trerotola, bought shares of CFX for $1.78M. This recent transaction increases Matthew Trerotola’s holding in the company by 24.53% to a total of $13.53 million. Based on Colfax’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $879 million and quarterly net profit of $19.07 million.
