This Hedge-Fund Legend is ‘Very Excited’ After No-Word Blog on Why Value Stocks Should Outperform Growth (Market Watch)
“That’s it, that’s the blog,” says Cliff Asness, the founder and chief investment officer of AQR Capital Management and five-time winner of the Bernstein Fabozzi/Jacobs Levy award for innovative portfolio management research. He presents this chart, showing the valuation spread of value stocks over growth globally.
Crypto Billionaire Mike Novogratz Collaborates With Rotary Fund To Launch His NFT For Charity (Investing.com)
Mike Novogratz, a crypto billionaire, has come out to announce the launch of his non-fungible token (NFT) for charity. He collaborates with the Rotary Fund, one of the biggest charity funds in the world. They will create an exclusive NFT available on December 21, 2021, on Rarible. Rarible is a multi-chain NFT marketplace with Ethereum, Flow, and Tezos integrated. The platform has $274 million in trading volume, over 400k NFTs created, and 1.6 million total users. The sale will be an auction, and every sale will go to charity with the help of the Rotary Fund.
Hedge Fund Marshall Wace Joins Its Rivals in Keeping Client Cash Longer (Bloomberg)
Hedge fund Marshall Wace is locking in capital for longer and considering returning some cash to investors. The London-based investment firm will allow quarterly withdrawals from its MW Eureka fund instead of monthly and is introducing a 25% limit, according to a letter to investors seen by Bloomberg. Under the new policy, it will take a year for investors to fully redeem their holdings.
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Billionaire Ray Dalio: Bitcoin is Like ‘a Younger Generation’s Alternative to Gold’ and has ‘Merit’ (CNBC)
Billionaire investor Ray Dalio is impressed with bitcoin, the largest cryptocurrency by market value, and its blockchain. “It has been an amazing accomplishment for bitcoin to have achieved what it has done, from writing that program, not being hacked, having it work and having it adopted the way it has been,” Dalio, founder of the world’s largest hedge fund, Bridgewater Associates, told MarketWatch on Wednesday.
American Campus Says Hedge Fund CEO Did Not Follow Up on Board Seat Interview (Reuters)
(Reuters) – American Campus Communities Inc, the largest owner of student housing in the United States, said on Thursday the head of hedge fund Land & Buildings Investment Management LLC had not followed up on an interview for a position on the company’s board. The activist fund has been seeking a board seat and believes the company needs to sell assets aggressively and buy back stock.
In a Tough Environment, Some Hedge Funds Remain Committed to Shorting (Institutional Investor)
Tybourne’s hedge fund shutdown highlights the risks and challenges of betting that stocks will decline in a bull market. Tybourne Capital’s decision to shutter its long-short fund doesn’t come as much of a surprise. After all, shorting has been a losing game for many investors since the recent bull market began in March 2009. Yes, there have been sharp corrections along the way, as well as the brief bear market…
Anchorage Closes USD7.4bn Flagship Fund (Hedge Week)
Hedge fund Anchorage Capital, a major player in distressed debt investing, is closing its USD7.4 billion flagship fund, according to a report in the Wall Street Journal. Anchorage, which has around USD30 billion in assets, hasn’t specified a date for the return of investor cash. The firm will now focus on its structured credit and private equity-style funds.
A Long-Time Brevan Howard Partner and Senior PM is Leaving the Firm. He’s Planning to Join Tudor Investment, Sources Say. (Business Insider)
Long-time Brevan Howard Asset Management partner Klaus Oestergaard has left the fund, and he’s planning to join rival Tudor Investment Corporation, according to people familiar with the matter. Oestergaard had been a highly regarded credit portfolio manager at Brevan Howard’s London office for the better part of the last 17 years.
Citadel, Blackstone Allow Remote Work Again as Omicron Rages (Bloomberg)
Citadel, Blackstone Inc. and Millennium Management are among asset managers telling staff this week that they may once again work remotely, at least for the next several weeks, in response to the latest spike of Covid cases. Ken Griffin’s Citadel, among the earliest hedge funds to require staff to return to the office during the pandemic, isn’t mandating that they stay away, a spokesman for the Chicago-based firm said Thursday in an email. The guidance also applies to Griffin’s market-making operation, Citadel Securities.
Friday 12/17 Insider Buying Report: MP, TPIC (Nasdaq.com)
On Wednesday, MP Materials’ Director, Randall J. Weisenburger, made a $3.48M buy of MP, purchasing 86,901 shares at a cost of $40.10 each. Weisenburger was up about 6.5% on the purchase at the high point of today’s trading session, with MP trading as high as $42.72 in trading on Friday. MP Materials is trading up about 1.2% on the day Friday. This buy marks the first one filed by Weisenburger in the past year. And at TPI Composites, there was insider buying on Wednesday, by Daniel G. Weiss who purchased 100,000 shares at a cost of $14.57 each, for a trade totaling $1.46M. TPI Composites is trading off about 1.1% on the day Friday. So far Weiss is in the green, up about 9.3% on their purchase based on today’s trading high of $15.93.
A Director at Builders Firstsource (NYSE: BLDR) is Selling Shares (Analyst Ratings)
On December 15, a Director at Builders Firstsource (BLDR), Floyd Sherman, sold shares of BLDR for $3M. Following Floyd Sherman’s last BLDR Sell transaction on June 11, 2020, the stock climbed by 57.6%. Based on Builders Firstsource’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $5.51 billion and quarterly net profit of $613 million.
Humacyte Inc (HUMA) President, CEO and Director Laura E Niklason Sold $2.7 million of Shares (Guru Focus)
President, CEO and Director of Humacyte Inc, Laura E Niklason, sold 300,000 shares of HUMA on 12/16/2021 at an average price of $9.1 a share. The total sale was $2.7 million.
Here’s How Your Trade Saba Capital Income & Opportunities Fund (BRW) Aggressively Right Now (NewsHeater.com)
Insider Trading: Reports are indicating that there were more than several insider trading activities at BRW starting from Saba Capital Management, L.P., who sale 34,720 shares at the price of $4.54 back on Dec 01. After this action, Saba Capital Management, L.P. now owns 10,327,333 shares of Saba Capital Income & Opportunities Fund, valued at $157,629 using the latest closing price.
