Exclusive: Hedge Fund Citadel’s Commodity Investments Up More Than $1 Billion this Year – Sources (Reuters)
NEW YORK (Reuters) – Hedge fund Citadel’s investments in commodities returned more than $1 billion this year, according to three people familiar with the matter, helping to drive strong overall performance for one of the world’s largest funds. The fund, led by Chicago billionaire Ken Griffin, benefited from gains trading in oil, power, natural gas and agriculture markets this year, the people said.
Billionaire Michael Platt, 52, is Fined $170million for Lying to Investors After He was Caught on Camera Bragging He was the ‘Highest Earning Person in Finance’ Last Year (DailyMail.co.uk)
A hedge fund tied to a British billionaire who was caught on camera last year bragging about his wealth has been fined $170 million for lying to investors. Hedge-fund manager 52-year-old Michael Platt who co-founded BlueCrest Capital Management and who is estimated to be worth $8 billion, boasted to a New York taxi driver last December, that he was ‘the highest-earning person in the world of finance.’
Renaissance Technologies Wins Cheap Power from NYS for HQ upgrade (News Day)
Renaissance Technologies LLC in East Setauket, one of the most successful hedge funds in history, will save substantially on its electric bills thanks to low-cost power from the state. Renaissance was founded in 1982 by its chairman James Simons, a billionaire who is a major contributor to the Democratic Party. Another billionaire, Robert Mercer, has held several positions at the hedge fund. He is a key contributor to the Republican Party and a conservative think-tank that’s critical of Gov. Andrew M. Cuomo.
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Bridgewater Associates and Lyxor to Launch Sustainability-Focused Strategy Next Year (Hedge Week)
Bridgewater Associates, Ray Dalio’s long-running hedge fund giant, has paired up with French institutional manager Lyxor Asset Management to launch a new multi-asset strategy next year, based around sustainable investing. The new vehicle – which is designed for investors to achieve financial and sustainability targets – is built around Bridgewater’s ‘All-Weather’ multi-asset framework, and trades assets aligned to the United Nations Sustainable Development Goals.
Hamiltonian Hits Milestone (Hedge Nordic)
Stockholm (HedgeNordic) – After a rocky start to its journey in 2018, Hamiltonian Global Credit Opportunities hit the ground running in early 2019 and never looked back. The credit-focused hedge fund founded and co-managed by Sean George has now reached $100 million under management after delivering a Sharpe ratio of 1.5 over the past 24 months. “We got off to a rocky start in 2018 which was very frustrating,” Sean George (pictured), Chief Investment Officer at Strukturinvest Fondkommission, tells HedgeNordic.
Varian Medical Systems Inc (VAR) President and CEO Dow R Wilson Sold $27.5 million of Shares (Guru Focus)
President and CEO of Varian Medical Systems Inc, Dow R Wilson, sold 157,515 shares of VAR on 12/07/2020 at an average price of $174.35 a share. The total sale was $27.5 million. Varian Medical Systems Inc is engaged in the healthcare sector. It manufactures medical devices for conditions with radiotherapy, radiosurgery, proton therapy and brachytherapy.
Contrasting the Global Trend, Fewer Asia-Focused Distressed Debt Funds Are on the Road (Preqin)
Globally, private debt fundraising slowed in 2020 as investors pared back their commitments to new funds in a challenging economic environment. With a record number of distressed debt funds in market globally, though, final figures could catch up toward the end of the year. In Asia, however, the numbers tell a different story. As of the end of October, there are only three distressed debt funds in market, collectively looking to raise $1.3bn. As shown in Fig. 1 and Fig. 2, the number and target capital are on par with one year ago, but aggregate capital targeted is down 69% from the high of $4.2bn in October 2018. We look at data from Preqin Pro to find out where Asian debt managers are focusing their capital right now.
Hedge Fund D.E. Shaw Pushes Exxon to Make Changes, Cut Costs, Boost Performance: Sources (Reuters)
BOSTON (Reuters) – Hedge fund D.E. Shaw is pressuring Exxon Mobil Corp to make changes and sent the company a letter this week asking it to cut costs and improve performance, two people familiar with the matter said on Wednesday. The letter, which is private, asked that Exxon cut its capital expenditures and operating expenses, the sources said.
Thursday 12/10 Insider Buying Report: SEER, CSV (Nasdaq.com)
At Seer, a filing with the SEC revealed that on Tuesday, Director Terrance McGuire bought 78,947 shares of SEER, for a cost of $19.00 each, for a total investment of $1.5M. McGuire was up about 268.4% on the purchase at the high point of today’s trading session, with SEER trading as high as $70.00 at last check today. Seer is trading up about 6% on the day Thursday. This buy marks the first one filed by McGuire in the past twelve months. And at Carriage Services, there was insider buying on Wednesday, by CEO Melvin C. Payne who bought 29,000 shares at a cost of $30.02 each, for a total investment of $870,580. Carriage Services is trading up about 0.5% on the day Thursday.
The Chief Operating Officer of Restaurant Brands International (NYSE: QSR) is Selling Shares (Analyst Ratings)
Yesterday, the Chief Operating Officer of Restaurant Brands International (QSR), Joshua Kobza, sold shares of QSR for $8.96M. In addition to Joshua Kobza, 4 other QSR executives reported Sell trades in the last month. The company has a one-year high of $67.33 and a one-year low of $25.08. Based on 12 analyst ratings, the analyst consensus is Strong Buy with an average price target of $62.64, reflecting a -4.0% downside.
Square Inc (SQ) President, CEO & Chairman Jack Dorsey Sold $21 million of Shares (Guru Focus)
President, CEO & Chairman of Square Inc, Jack Dorsey, sold 100,000 shares of SQ on 12/07/2020 at an average price of $209.69 a share. The total sale was $21 million. Square Inc is a software company offering solutions ranging from payments and point-of-sale services to financial and marketing services.
