Bridgewater Employees At Last Actually Working In Magical Forest (Deal Breaker)
Once upon a time (specifically, eight years ago), Bridgewater Associates was prepared to abandon its enchanted woods and great lawn and cave of contemplation and mystical parking lake (and its fish ladder) in Westport for a new home in Stamford. This campus of the future was euphemistically referred to as a magical forest, but it was to be, in reality, a fairly typical five-story suburban office park with a helipad. It did not happen, and not because of any prophecy of plague delivered to Ray Dalio by a talking fish-oracle, or the insight, revealed to him in his gilded survival bunker, that he definitely wouldn’t need room for 3,500 people and 3,000 cars in order to lose a shrinking band of preferred clients 20% a year.
Mets Notes: Steve Cohen Still in Driver’s Seat for Owner Approval, Could Get Second Crack at SNY with Discount (AMNY.com)
It has been previously and constantly reported that Steve Cohen should not have any issues getting the necessary approval votes from the 29 other MLB club owners to take over the New York Mets this year. Yet there have been rumblings that the 64-year-old hedge-fund billionaire – who signed an agreement with the Wilpon family for a 95% majority stake in the team – will face some pushback from rival owners. Most recently came a report from the New York Post’s Joel Sherman, who reported that Cohen “is not a slam dunk.”
Activist Investor Trian Fund Management Takes Stake in Comcast (CNBC)
Shares of Comcast gained sightly in after-hours trading Monday after Trian Fund Management took a stake in the cable giant. The hedge fund bought 7.16 million class A common share of Comcast, a regulatory filing showed. “Trian believes Comcast’s stock is undervalued. We have recently begun what we believe are constructive discussions with Comcast’s management team and look forward to continuing those discussions,” a Trian spokesperson told CNBC. CNBC’s David Faber reports.
Alex Oakenman / shutterstock.com
BlackRock, Crispin Odey Among Funds Pocketing Nearly €50m on Grenke Short Bets (FNLondon.com)
Odey Asset Management and BlackRock are among a cohort of investors that have pocketed millions from short bets in German IT leasing company Grenke. Grenke’s stock suffered a two-day fall of about 50% after short-seller Viceroy Research alleged accounting irregularities at the company. On 21 September, the stock tanked an additional 13% after news of the German regulator opening a probe into the company.
Ex-Citadel and Point72 Executive Evan Feng Joins the CoinFund Investment Team (Opalesque.com)
CoinFund, a private crypto asset investor and blockchain research, and advisory firm, announced that Evan Feng has joined its investment research team. “Evan brings to us his experiences as both a traditional fundamental long/short equities analyst at Citadel and Point72 and more recently, his passion and focuses as an independent researcher and investor in the digital asset space,” said a press note from the investment firm founded in 2015 and based in Brooklyn, New York. “I’m excited to join CoinFund, and am eager to contribute to the continued momentum and future success of the firm’s network lifecycle investing approach which covers liquid, venture, and crypto native investing in the blockchain space,” Evan Feng said.
RQSI Launches New Hedge Fund Investment Fee Calculator (Hedge Week)
Ramsey Quantitative Systems’ (RQSI) has launched Fee-Fi-Fo-Fum, a new investment tool that enables investors to generate, evaluate, and compare hedge fund fee structures. In addition to calculating a recommended fee model, the tool enables users to input their current managers’ fees to see how they compare against RQSI’s recommended model, the standard 2-and-20 structure, and the more recently adopted 1-or-30 structure.
Jfrog (FROG) CEO Ben Haim Shlomi Sold $26.1 million of Shares (Guru Focus)
CEO of Jfrog, Ben Haim Shlomi, sold 638,000 shares of FROG on 09/18/2020 at an average price of $40.92 a share. The total sale was $26.1 million. JFrog Ltd has a market cap of $5.94 billion; its shares were traded at around $67.00. CEO Recent Trades: CEO Ben Haim Shlomi sold 638,000 shares of FROG stock on 09/18/2020 at the average price of $40.92. The price of the stock has increased by 63.73% since.
SEC Charges Index Manager and Friend With Insider Trading (HedgeCo.net)
(HedgeCo.Net) The Securities and Exchange Commission has charged Yinghang “James” Yang, a senior index manager at a globally recognized index provider, and his friend Yuanbiao Chen, a manager at a sushi restaurant, with perpetrating an insider-trading scheme that generated more than $900,000 in illegal profits. The SEC’s complaint alleges that between June and October of 2019, Yang and Chen repeatedly purchased call or put options of publicly traded companies hours before public announcements that those companies would be added to or removed from a popular stock market index that Yang helped his employer manage.
The Senior Officer of Fortuna Silver Mines (NYSE: FSM) is Selling Shares (Analyst Ratings)
Today, the Senior Officer of Fortuna Silver Mines (FSM), Eric Chapman, sold shares of FSM for $493.9K. Following Eric Chapman’s last FSM Sell transaction on June 24, 2020, the stock climbed by 2.3%. The company has a one-year high of $7.95 and a one-year low of $1.47. FSM’s market cap is $1.4 billion and the company has a P/E ratio of 760.00. Currently, Fortuna Silver Mines has an average volume of 272.23K.
Cloudflare Inc (NET) COO Michelle Zatlyn Sold $5.3 million of Shares (Guru Focus)
COO of Cloudflare Inc, Michelle Zatlyn, sold 145,500 shares of NET on 09/21/2020 at an average price of $36.62 a share. The total sale was $5.3 million. Cloudflare Inc has a market cap of $11.91 billion; its shares were traded at around $38.96 with and P/S ratio of 25.18. GuruFocus has detected 1 severe warning sign with Cloudflare Inc.
