Paul Tudor Jones Says Powell Has a Lot of Catching Up to Do (Bloomberg)
Federal Reserve Chair Jerome Powell will struggle to contain rising inflation, and a variety of assets will face challenges as a result, Paul Tudor Jones said. “He’s got a lot of catching up to do,” the hedge fund manager said Tuesday in an interview on CNBC. “We’re getting ready to see a major shift, and it’s going to have a lot of consequences for a variety of asset prices.”
Bridgewater’s Ray Dalio Endorses China’s ‘Common Prosperity’ Drive (The Wall Street Journal)
Bridgewater Associates LP founder Ray Dalio backed China’s push for “common prosperity,” or greater equality, under President Xi Jinping and said countries such as the U.S. could benefit from a similar approach. Beijing’s pursuit of common prosperity has been a driver behind its wide-ranging crackdowns on sectors such as e-commerce, videogames, property and after-school tutoring. The heightened regulatory pressure in turn has caused steep declines for many Chinese stocks listed in the U.S. and Hong Kong, and prompted many investors to reassess the risks and rewards of Chinese assets.
Citadel Securities Valued at $22 bln After Sequoia, Paradigm Take Stake (Reuters)
Jan 11 (Reuters) – Citadel Securities said on Tuesday venture capital firm Sequoia Capital and crypto-focused investment company Paradigm had made a $1.15 billion minority investment in it, giving the market maker founded by billionaire Ken Griffin a valuation of nearly $22 billion.
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Balyasny’s Founding Partners Lay Out Their Top Priorities ‘for the Next 20 Years’ in a New Letter that also Shares a Quirky Story About Their First Meeting with Goldman Sachs (Business Insider)
Ask investors about Balyasny and they will describe a $12-billion-in-assets hedge fund that has garnered respect from trading desks around the world for its impressive performance across two decades. But it wasn’t always that way. In a letter to investors marking the Chicago-based firm’s 20th anniversary, Balyasny’s founding partners reveal how badly they nearly blundered their first meeting with Wall Street institution Goldman Sachs when they were first starting out and searching for a prime brokerage partner.
Catella Completes Fund Business Divestiture (Hedge Nordic)
Stockholm (HedgeNordic) – During the summer of last year, Catella AB agreed to sell a majority stake in its fund management arm, Catella Fondförvaltning, to Swedish investment company Athanase Industrial Partner. Catella has now used the right to sell the remaining stake of 30 percent in Catella Fondförvaltning to Athanase for SEK 60 million. “I am pleased that we have taken additional steps on our journey towards a real estate focused company,” comments Christoffer Abramson, the CEO of Catella. “Looking ahead we can fully allocate our resources to developing and growing our three business areas: Catella’s market leading Corporate Finance advisory services, Property Investment Management with assets under management of SEK 112 billion, and our own Principal Investments of SEK 800 million in development projects across Europe.”
Brevan Howard Makes Hedge Fund Clients Commit Cash for Longer (Bloomberg)
Brevan Howard Asset Management returned capital to some clients in one of its hedge funds and asked them to come back and lock up cash for longer if they want to continue investing with the money pool. The firm has redeemed about 15% of the assets of its $7 billion BH Alpha Strategies fund, according to people with knowledge of the matter. It asked the affected investors to buy a new share class that limits withdrawals so that full redemptions will now take two years. Under the previous agreement, they could have taken all their money out with three months’ notice.
Governance Revolution in Japan Like the UK in the 80s and 90s, Says Man GLG’s Atherton (Hedge Week)
The ESG-driven corporate governance revolution in Japan is creating investment opportunities similar to those in the UK in the 1980s and 1990s, according to Jeff Atherton, manager of the Man GLG Japan CoreAlpha Fund. Atherton, who took over as lead manager of the GBP1.2 billion fund in January 2021, says Japan has historically been viewed by investors as a cyclical market where returns are driven largely by interest rates and the global economy. However, he says a sea change in corporate governance has begun to present opportunities never seen before by foreign equity investors.
CNBC Pro Talks: Hedge Fund Manager David Neuhauser Discusses Shorting Big Tech, Inflation and More (CNBC)
Join CNBC’s Karen Tso this Wednesday as she speaks to David Neuhauser, founder and CIO of Livermore Partners, to discuss his top investments for 2022. Neuhauser — who last year shorted the ARK Innovation ETF, Tesla and Facebook — will discuss his outlook for the U.S. tech giants and more. After previously warning of historic market bubbles in some assets, the hedge fund manager will also share his views on the economic outlook, inflation and risks ahead.
Tuesday 1/11 Insider Buying Report: DOCU, WOOF (Nasdaq.com)
On Monday, DocuSign’s CEO, Daniel D. Springer, made a $2.41M buy of DOCU, purchasing 18,700 shares at a cost of $128.89 each. So far Springer is in the green, up about 11.1% on their purchase based on today’s trading high of $143.22. DocuSign is trading up about 4.3% on the day Tuesday. Before this latest buy, Springer bought DOCU on 2 other occasions during the past year, for a total cost of $5M at an average of $143.86 per share. And at Petco Health & Wellness, there was insider buying on Monday, by CEO & Chairman Ron Coughlin who bought 23,290 shares at a cost of $17.21 each, for a trade totaling $400,821. Before this latest buy, Coughlin purchased WOOF at 2 other times during the past year, for a total investment of $1.03M at an average of $21.63 per share. Petco Health & Wellness is trading up about 3.7% on the day Tuesday. So far Coughlin is in the green, up about 8.9% on their buy based on today’s trading high of $18.75.
Insider Trading: January 10, 2022 (BIV.com)
Insider: Stephen Hurst, director. Company: Mind Medicine Inc. (TSX:MMED). Shares owned: 1,540,392. Trade date: December 29, 30, 31. Trade total: US$1,540,392. Trade: Sale of 1,094,998 shares at prices from US$1.38 to US$1.47 per share. Insider: Allyn Knoche, 10% owner. Company: FPX Nickel Corp. (TSX:FPX). Shares owned: 34,858,872. Trade date: December 29. Trade total: $890,000. Trade: Acquisition of 2,000,000 shares at a price of $0.39 to $0.50 per share.
SEC Proposes Amendments To Rule 10b5-1 Insider Trading Plans (LinkedIn)
As expected from the Spring 2021 Regulatory Agenda, on December 15, 2021, the SEC proposed amendments to Rule 10b5-1 under the Securities Exchange Act of 1934 (“Exchange Act”) to enhance disclosure requirements and investor protections against insider trading. Although there is a statutory framework, the laws surrounding insider trading are largely based on judicial precedence and are difficult to navigate. I last wrote about insider trading in 2014 but there have been many curves in the road since that time.
The CFO of IDT (NYSE: IDT) is Buying Shares (Analyst Ratings)
Yesterday, the CFO of IDT (IDT), Marcelo Fischer, bought shares of IDT for $746.3K. This recent transaction increases Marcelo Fischer’s holding in the company by 52.15% to a total of $1.75 million. In addition to Marcelo Fischer, 6 other IDT executives reported Buy trades in the last month. Based on IDT’s latest earnings report for the quarter ending October 31, the company posted quarterly revenue of $370 million and GAAP net loss of -$2,478,000.
