Shannon River Hedge Fund Is Betting Big on News (Bloomberg)
Shannon River Capital Management, a $450 million technology-focused hedge fund that beat peers last year, says digital subscriptions for news are the next big thing. “News is where music was 10 years ago,” Spencer Waxman, who founded Shannon River in 2003, said in a telephone interview. “At that time, no one thought you’d pay for music again.”
Preqin Hedge Fund Gauge Sheds 3.4% Last Year, Worst Since 2008 (HedgeCo.net)
(Asia Asset Management) The global hedge fund industry registered the worst performance in ten years in 2018 with 59% of funds posting negative returns as turbulent markets exacted a toll, according to London-based data provider Preqin. The Preqin All-Strategies Hedge Fund benchmark, which gauges overall performance of global hedge fund managers, lost 3.42% after gaining over 10% in 2017, Preqin says in a report on January 23. It was the worst showing since the global financial crisis in 2008.
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GaoTeng to Launch Hedge Fund Headed Up by Ex-Nomura Trader (FinanceMagnates.com)
A former Nomura trader launched a new hedge fund this Monday. According to a report published by Bloomberg, Desmond How’s fund will be focusing on emerging-market corporate bonds. How will be opening the hedge fund at his current company – GaoTeng Global Asset Management. Based in Hong Kong, GaoTeng is owned by Chinese conglomerate Tencent Holdings and investment management company Hillhouse Capital.
The Old Hedge Funds Are the Good Ones (Bloomberg.com)
Fund-of-funds LCH Invesments NV does an annual ranking of the top 20 hedge funds measured by the total profits that they have made for investors since inception; this year’s version came out recently and you can read about it here or here or here or here. The perennial champ is Bridgewater Associates, which has made $57.8 billion for investors since it started in 1975, adding $8.1 billion last year.
Rosseau Asset Management Celebrates its 20th Anniversary (MarketWatch)
TORONTO, Jan. 29, 2019 /PRNewswire/ – Rosseau Asset Management Ltd. celebrated its 20 [th] anniversary this past week. Rosseau’s flagship fund, Rosseau LP, earned a 13.67% average annual compound rate of return net of all fees since its inception 20 years ago. This performance is more than double that of the S&P/TSX Total Return Index over the same period with seed investors earning 13 times their original capital. Rosseau’s performance ranks at, or near the top, of all Canadian hedge funds for the past 20 years.
Parker Drilling Strikes Deal With Stockholder Saba Capital (The Wall Street Journal)
Parker Drilling Co. has struck an agreement with hedge-fund firm Saba Capital Management LP, a major stockholder and holder of company bond debt, over the terms of the drilling-rig-service provider’s chapter 11 plan. The company said Saba has signed a “joinder agreement” to a restructuring-support pact that already has the backing by other bondholders, according to papers filed Monday in the U.S. Bankruptcy Court in Houston.
Only Seven Dow Components With Recent Insider Buying, INTC is One of Them (Nasdaq.com)
The officers and directors of a company tend to have a unique inside view into the business, so when these insiders make purchases, investors are wise to take notice. Presumably the only reason for a company insider to choose to take their hard-earned cash and use it to buy stock in the open market, is that they expect to make money – maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. Within the 30 components of the Dow Jones Industrial Average, only seven companies have experienced such buying over the trailing six month period, one of which was Intel Corp (Symbol:INTC), where an investment totaling $493.1K invested across 2 purchases was made by Interim CEO [CFO] Robert Holmes Swan.
Gentian Diagnostics AS : – Primary Insider Notificatio (Market Screener)
(Oslo, Norway, January 29, 2019) Vatne Equity AS has today acquired 175,000 shares in Gentian Diagnostics AS at an average price of NOK 54.50 per share. Henrik Krefting, CEO of Vatne Capital AS, which is the owner of Vatne Equity AS, is a Board Member of Gentian Diagnostics AS. Following the share purchase, Vatne Equity AS will hold 1,910,340 shares in Gentian, corresponding to 12.41% of the outstanding shares. In addition, Lioness AS, a sister company of Vatne Equity AS, owns 150,000 shares in Gentian, corresponding to 0.97% of the outstanding shares. Following the share purchase, Vatne Equity AS and Lioness AS will together hold 2,060,340 shares in Gentian, corresponding to 13.38% of the outstanding shares.
Nutritional High to Acquire Controlling Interest in Cannabis Infused Edibles Producer SolDaze (BusinessInsider)
TORONTO, Jan. 29, 2019 (GLOBE NEWSWIRE) — Nutritional High International Inc. (“Nutritional High” or the “Company”) (CSE: EAT, OTCQB: SPLIF, FRANKFURT: 2NU) is pleased to announce that is has entered into a letter of intent to purchase a controlling 51% interest in in Tres Ojos Naturals, LLC d/b/a SolDaze (“SolDaze”), a limited liability company from Santa Cruz, California. SolDaze produces cannabis infused fruit snacks in California which are distributed by the Company’s distributor, Calyx Distributions.
Wells Fargo & Co (WFC) Position Boosted by Clean Yield Group (TheMarketsDaily.com)
Clean Yield Group boosted its stake in Wells Fargo & Co (NYSE:WFC) by 53.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,328 shares of the financial services provider’s stock after buying an additional 3,250 shares during the period. Clean Yield Group’s holdings in Wells Fargo & Co were worth $430,000 at the end of the most recent quarter.
