Billionaire Ray Dalio Explains Why Investors Should Buy Chinese Debt Regardless of Who Wins the Election (Business Insider)
Billionaire hedge fund manager Ray Dalio told Bloomberg on Monday that the world is “structurally underweight China” and investors should buy Chinese bonds for diversification no matter the outcome of the US election. The Bridgewater Associates founder said that regardless of who wins the presidency, the US will run larger deficits and sell more debt, according to Bloomberg. This will cause global investors who are overweight in US bonds to diversify into China. Citing the favorable capital inflows in China, he said: “I’d much rather own Chinese bonds than US bonds.” China’s 10-year government bonds yield over 3%, while US treasuries yield less than 1%.
Steve Cohen’s New York Mets Can’t Repeat Brodie Van Wagenen’s Mistakes By Trading Top Prospects (Forbes)
New York Mets fans around the world were finally able to truly celebrate the Wilpons selling the team to billionaire Steve Cohen after MLB approved the sale on Friday and New York City mayor Bill de Blasio gave his blessing amid rumors he might not. Even the hint of Cohen putting any sort of competent management (like a Sandy Alderson return) in place instead of or in addition to current general manager Brodie Van Wagenen should get Mets fans duly excited. With free agency officially underway Sunday, Cohen will most likely flex his financial muscles in some way, whether that means signing a top flight hitter like Philadelphia Phillies catcher J.T. Realmuto, Houston Astros outfielder George Springer or a starting pitcher like Cincinnati Reds righty Trevor Bauer.
World’s Top Hedge Fund Soars 275% With Bets on China Schools (Bloomberg)
Long before he ran the world’s best-performing hedge fund, Qian Yongqiang chaired China’s biggest online dating service. The Yale graduate would spend hours tracking down attractive users with suspicious profiles, sifting through accounts and deleting thousands of scammers to improve the site’s authenticity and ensure its success.
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New Report Highlights Growing Demand for Smaller or Newer Hedge Fund Managers (Hedge Week)
The global hedge fund industry is currently facing headwinds from fee pressure, increased redemptions, and liquidations, with the situation being further worsened due to the decreasing number of launches of new funds, as investors around the world are more inclined toward defensive strategies. That’s according to a new report from ResearchAndMarkets.com – Global Hedge Fund Industry | Growth, Trends, and Forecast (2020-2025) – which reveals that despite these tough times, the industry witnessed double-digit annualised return in 2019 for the first time in the past six years.
GAM’s Bet on Hedge Fund Sours as Quant Business Shrinks (Bloomberg)
GAM Holding AG’s push into cutting-edge hedge funds has faltered, after steep losses at its once-feted Cantab Capital Partners unit accelerated a plunge in assets this year. GAM’s acquisition of Cambridge, U.K.-based Cantab was supposed to supercharge its expansion into computer-driven quant trading. But key strategies have posted losses of as much as 24% this year, dragging assets down to an all-time low of $1.3 billion. The former Cantab funds have shrank by two thirds since the 2016 acquisition, with the worst losses fueled by the pandemic, according to investor letters seen by Bloomberg.
Hedge Fund Davidson Kempner Eyes Role in AA Takeover Talks (The Times)
An aggressive US hedge fund could seek to join a takeover of the AA, the beleaguered car breakdown service. Davidson Kempner, which has a 15% stake in the AA, is understood to have hired the investment bank Moelis to advise on options as talks drag on between the debt-laden company and two private equity suitors, Warburg Pincus and TowerBrook.
SEBI Fines Titan Company Employee for Insider Trading (SME Times)
The Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs 2 lakh on an employee of Titan Company, Theekevedu B. Alexander, for violating insider trading norms in 2018. The investigation by the capital markets regulator found that the designated employee of the company and his spouse had traded in the scrip of Titan when the trading window was closed, in violation of SEBI (PIT) Regulations, 2015.
Inovalon Holdings Inc (INOV) CEO and Chairman of the Board Keith R Dunleavy Bought $1.2 million of Shares (Guru Focus)
CEO and Chairman of the Board of Inovalon Holdings Inc., Keith R Dunleavy, bought 60,000 shares of INOV on 10/30/2020 at an average price of $19.62 a share. The total cost of this purchase was $1.2 million. Inovalon Holdings Inc is a United State based technology company. It delivers seamless, end-to-end platforms that bring the benefits of big data and large-scale analytics to the point of care.
The Executive of Sixty North Gold Mining (Other OTC: SXNTF) is Buying Shares (Analyst Ratings)
Today, the Executive of Sixty North Gold Mining (SXNTF), John Norman Campbell, bought shares of SXNTF for $45K. Following this transaction John Norman Campbell’s holding in the company was increased by 6% to a total of $584.6K. In addition to John Norman Campbell, 3 other SXNTF executives reported Buy trades in the last month. Currently, Sixty North Gold Mining has an average volume of 44.00K.
Insider Trading: November 2, 2020 (BIV.com)
Insider Richard William Warke, director. Company: Solaris Resources Inc. (CVE-V:SLS). Shares owned: 19,460,576. Trade date: July. Trade total: $7,449,500. Trade: Acquisition of 1,585,000 shares at a price of $4.70 per share. Insider Aline Smolensky, 10% owner. Company: Strategem Capital Corp. (TSX-V:SGE). Shares owned: 12,400. Trade date: Oct 22, 23, 26. Trade total: $1,070,904. Trade: Sale of 467,600 shares at prices from $2.29 to $2.30 per share.
SEC Issues Record $114 Million Whistleblower Award (HedgeCo.net)
(HedgeCo.Net) The Securities and Exchange Commission has announced an award of over $114 million to a whistleblower whose information and assistance led to the successful enforcement of SEC and related actions. The $114 million award consists of an approximately $52 million award in connection with the SEC case and an approximately $62 million award arising out of the related actions by another agency. The combined $114 million reward marks the highest award in the program’s history, and eclipses the next highest award of $50 million made to an individual in June 2020. “Today’s milestone award is a testament to the Commission’s commitment to award whistleblowers who provide the agency with high-quality information,” said SEC Chairman Jay Clayton. “Whistleblowers make important contributions to the enforcement of securities laws and we are committed to getting more money to whistleblowers as quickly and as efficiently as possible.”
