Ray Dalio’s $100 million Education Charity Hit with Abuse of Wealth and Power Lawsuit (Fox Business)
Ray Dalio‘s controversial education philanthropy continues to haunt the hedge-fund billionaire. Dalio Philanthropies, a nonprofit run by the Bridgewater Associates chief, is being sued by the former chief executive of a now-dissolved nonprofit that partnered with Dalio to improve education for low-income students in Connecticut, according to a lawsuit obtained by FOX Business.
MLB Rumors: Yankees Expected to Back Mets Sale to Steve Cohen (NJ.com)
The Big Apple is big enough for Steve Cohen. The billionaire hedge fund manager, who has a deal in place to buy the New York Mets, needs approval from 23 of MLB’s 29 owners to officially take control of the franchise. SNY’s Andy Martino reports that the New York Yankee are “not expected to be one of the no votes on Cohen.”
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Besst Point Capital House Hedge Fund Switches to MetaTrader 5 (Hedge Week)
The Besst Point Capital House hedge fund has now moved its trading infrastructure to the MetaQuote’s MetaTrader 5 platform. The funds traders all now benefits from access to the multi-asset platform, plus powerful algorithmic trading capabilities and a unique ecosystem of services from MetaQuotes. Besst Point Capital House Limited is an independent global company founded by experienced fund managers. The broker’s team focuses on differentiated strategies that help to successfully manage investments.
Eastern Europe Absolute Shutdown (Hedge Nordic)
Stockholm (HedgeNordic) – Danske Bank’s asset management arm, known in the Nordic hedge fund industry for its successful suite of fixed-income hedge funds, is liquidating its Eastern Europe-focused long/short equity fund. Danske Invest Eastern Europe Absolute is set to liquidate on October 19 due to a decline in the volume of assets under management. “Having taken into account all relevant factors, namely the fact that the level of the assets of the Fund has reached a level which no longer allows for the Fund to be operated in an economically efficient manner, the Board is of the view that the contemplated termination of the Fund would be in the best interest of the Shareholders of the Fund,” according to an announcement. “The Board has therefore decided to close the Fund for subscription by any additional investor as of 21 September 2020 at 10:00 AM.”
Longitude Capital Raises $585m in Its Largest-Ever Fund (Opalesque.com)
Health-care venture capital firm Longitude Capital has rounded up its largest fund yet after having a string of portfolio companies go public or be acquired, raising $585 million to invest in biotechnology and other medical startups. “The Longitude Venture Partners IV (LVP4) will build on the proven strategy of its predecessor funds by investing in biotechnology, medical technology, and health solutions companies that seek to transform the healthcare industry,” said a press release from the US-based venture investor. The co-founders and co-managing directors of Longitude Capital Marc Galletti and Patrick Enright like to invest in what they call “transformative healthcare companies.”
UK Managed Assets Seen Near Pre-Pandemic Record Above $10 Trillion (Reuters)
LONDON (Reuters) – British fund managers’ assets under management rebounded by the end of June towards record highs above 8 trillion pounds seen before the COVID-19 pandemic, estimates from the sector’s trade body show. Assets under management hit record highs of 8.5 trillion pounds at the end of 2019, a rise of 10% from 2018, helped by strong stock market performance, the Investment Association said in its annual Investment Management Survey on Thursday.
“Be Vigilant”: Man GLG Hedge Fund Veteran Pierre-Henri Flamand Warns Investors of Inflation ‘Storm’ (Hedge Week)
Pierre-Henri Flamand, Man GLG’s CIO emeritus and hedge fund industry veteran, says the huge economic stimulus from governments to combat the coronavirus crisis is fuelling the threat of inflation, and is warning investors to “be vigilant rather than to relax”. The unprecedented cash injections from central banks and governments this year to support economies suggest a “clear threat that we may be entering an inflationary decade”, said Flamand, a former star manager at Goldman Sachs and now senior investment adviser at UK hedge fund giant Man.
Hedgie Assets are Flowing Back (Hedge Nordic)
Stockholm (HedgeNordic) – Investors poured $7.4 billion into hedge funds during the month of August, continuing the industry’s asset recovery journey following four consecutive months outflows from March through June. Investors added an additional $9 billion to the hedge fund industry in July, according to eVestment. Despite enjoying two consecutive months of net inflows, year-to-date asset flows are still well into negative territory after the hedge fund industry registered strong outflows in the first half of 2020. On a year-to-date basis, the industry recorded $37.6 billion in net redemptions through the end of August. According to eVestment’s latest hedge fund asset flows report, the hedge fund industry has $3.197 trillion under management.
Thursday 9/24 Insider Buying Report: LULU, TSI (Nasdaq.com)
At lululemon athletica ( LULU ), a filing with the SEC revealed that on Monday, Chief Product Officer Tara Poseley bought 4,000 shares of LULU, at a cost of $53.52 each, for a total investment of $214,060. Bargain hunters can snag LULU even cheaper than Poseley did, with shares trading as low as $52.00 at last check today — that’s 2.8% below Poseley’s purchase price. lululemon athletica is trading down about 2.1% on the day Thursday. This purchase marks the first one filed by Poseley in the past year. And at TCW Strategic Income Fund ( TSI ), there was insider buying on Tuesday, by Portfolio Manager Tad Rivelle who bought 20,000 shares for a cost of $5.13 each, for a total investment of $102,529.
Not By the Numbers: Former Aceto Controller is Charged with Insider Trading (StatNews.com)
File this under ‘What was he thinking?’ After spending nearly 17 years as controller at Aceto, a supplier of active pharmaceutical ingredients, Ed Kelly retired in March 2018 and, one month later, was hired as a consultant to help the company close its books for the recently ended fiscal quarter. But then he came across information that he apparently could not ignore – and committed insider trading by acting on it, according to a complaint filed by the Securities and Exchange Commission.
ALR Technologies Inc (ALRT) CEO Sidney Chan Bought $12 million of Shares (Guru Focus)
CEO of Alr Technologies Inc, Sidney Chan, bought 240,000,000 shares of ALRT on 09/21/2020 at an average price of $0.05 a share. The total cost of this purchase was $12 million. ALR Technologies Inc is a medical device company, which is focus on commercializing its Heath-e-Connect System. ALR Technologies Inc has a market cap of $12.490 million; its shares were traded at around $0.05 . GuruFocus has detected 2 severe warning signs with ALR Technologies Inc.
The Chief Financial Officer of MAG Silver (NYSE MKT: MAG) is Selling Shares (Analyst Ratings)
Yesterday, the Chief Financial Officer of MAG Silver (MAG), Larry Taddei, sold shares of MAG for $280.3K. The company has a one-year high of $18.25 and a one-year low of $3.84. Currently, MAG Silver has an average volume of 88.29K.
Sebi Penalises Biocon”s Employee for Violating Insider Trading Norms (OutlookIndia.com)
New Delhi, Sep 24 (PTI) Markets regulator Sebi on Thursday levied a fine of Rs 5 lakh on an employee of Biocon Ltd for violating insider trading norms while dealing in the scrip of the firm. Biocon”s employee Girija Kelath violated the Prohibition of Insider Trading (PIT) Regulations by trading in the shares of Biocon during the trading window closure period, which is specifically prohibited. The order follows an investigation carried out by Sebi to ascertain if there was any violation of PIT norms by Girija Kelath, a designated person of Biocon, with respect to her transactions during August 31, 2018 to October 1, 2018.
Twilio Inc (TWLO) CEO Jeff Lawson Sold $6.2 million of Shares (Guru Focus)
CEO of Twilio Inc, Jeff Lawson, sold 27,000 shares of TWLO on 09/21/2020 at an average price of $229.02 a share. The total sale was $6.2 million. Twilio Inc provides a cloud communications platform that enables developers to build, scale and operate communications within software applications through the cloud as a pay-as- you-go service. Twilio Inc has a market cap of $33.21 billion; its shares were traded at around $232.00 with and P/S ratio of 23.17. GuruFocus has detected 1 severe warning sign with Twilio Inc.
