Investor Bill Miller Promises $75 Million to Johns Hopkins University Philosophy Department (The Baltimore Sun)
The renowned investor William H. “Bill” Miller III will donate $75 million to Johns Hopkins University’s philosophy department, setting a record for gifts to the university’s humanities departments. The gift, announced Tuesday morning, is thought to be the largest ever made to a university philosophy program, Johns Hopkins said in a statement. Miller was a graduate philosophy student at Hopkins in the 1970s before he left to pursue a career in investment management. He became renowned in financial circles when, as a fund manager for Legg Mason Capital Management, he beat the returns on the benchmark Standard & Poor’s 500-stock index for an unparalleled 15 years in a row from 1991 to 2005.
Activist hedge Fund Elliott has Scooped a Stake in GKN Just Days After it Rejected a £7bn Bid (CityAM.com)
Activist hedge fund Elliott Management, which rose to fame last year after a drawn-out battle with Dulux maker AkzoNobel, has revealed it has grabbed a stake in engineering giant GKN just days after the company rejected a £7bn takeover bid. The US firm now owns a 1.7 per cent interest in GKN, which manufactures parts for Boeing and Volkswagen. Stock exchange filings also show that Elliott holds a 0.5 per cent short position in Melrose Industries, the turnaround specialist which made the approach and was rebuffed by GKN. This means Elliott would stand to benefit if Melrose’s shares sank, although they have generally been on the rise since news of its bid emerged.
Rawpixel.com/Shutterstock.com
Partners Share £5.5m at Hedge Fund Launched by Ex-Cheyne Boss (FNLondon.com)
Partners at the hedge fund launched by the former head of Cheyne Capital‘s event-driven team shared more than £5.5m after profits surged last year — a period of strong returns for the strategy as a whole. Latest accounts filed at Companies House by Sand Grove Capital Management show that profits available to be shared among the eight partners rose to £5.4m in the 12 months to March 2017, up from £468,000 a year earlier. The partnership includes two corporate partners. The rise was driven by surging revenues, which climbed from £2.1m to £7.1m.
Can Hedge Funds Handle a Bitcoin Bust? (Bloomberg)
Hedge fund managers have been lying awake at night for years worrying about poor performance, weak volatility and whether it might be time to just move on and do something else — like get into Bitcoin maybe.The allure of 1,000 percent returns in a market of unsophisticated punters who behave in herd-like ways is undeniable. But how long before crypto fund managers start having their own bedtime terrors?
Hedge Fund Bulls Have Left Oil Market Looking Very Stretched: Kemp (Reuters)
Hedge funds and other money managers have boosted their bullish position in oil to a new record, but with crude taking over from fuels as the main target of fresh buying. Hedge funds boosted their net long position in the six most important futures and options contracts linked to crude and fuels by 67 million barrels to a record 1,399 million barrels in the week to Jan. 9. Portfolio managers have increased their net long position in Brent, NYMEX and ICE WTI, U.S. gasoline, U.S. heating oil and European gasoil by a total of 1,089 million barrels since the end of June.
Rokos Hedge Fund Is Said to Lose in 2017 as Macro Peers Suffer (Bloomberg)
Chris Rokos’ hedge fund lost 3.4 percent last year, joining a number of large macro-trading peers who struggled to make money, according to a person with knowledge of the matter. The Rokos Global Macro Master Fund lost most of the money in December, said the person who asked not to be identified because the information was private. A spokesman for the London-based hedge fund, which manages about $7 billion, declined to comment.
Insider Buying: Fusion Antibodies PLC (FAB) Insider Acquires 15,593 Shares of Stock (Week Herald)
Fusion Antibodies PLC (LON:FAB) insider Sonya Maria Ferguson bought 15,593 shares of the company’s stock in a transaction that occurred on Monday, January 15th. The stock was purchased at an average cost of GBX 160 ($2.17) per share, with a total value of £24,948.80 ($33,833.47).
NVIDIA Corporation (NVDA) And Insider Trading Activity (GKMen.com)
DorseyWright & Associates sold 18,022 shares as Nvidia Corp Com (NVDA)’s stock rose 26.83%. Peddock Capital Advisors Llc who had been investing in Nvidia Corp for a number of months, seems to be less bullish one the $135.13 billion market cap company. The stock has been active on the tape, now trading at $222.98, down from yesterday’s close by -0.49%. State Board of Administration of Florida Retirement System now owns 829,595 shares of the computer hardware maker’s stock valued at $148,307,000 after buying an additional 9,565 shares during the last quarter. NVIDIA Corporation (NASDAQ:NVDA) has risen 212.28% since January 15, 2017 and is uptrending.
Insider Selling: Chase Co. (CCF) Director Sells 120 Shares of Stock (Dispatch Tribunal)
Chase Co. (NYSEAMERICAN:CCF) Director Everett Chadwick, Jr. sold 120 shares of Chase stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $116.00, for a total value of $13,920.00. Following the completion of the transaction, the director now directly owns 1,277 shares in the company, valued at $148,132. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Shares of Chase Co. (NYSEAMERICAN:CCF) opened at $116.20 on Tuesday. The firm has a market capitalization of $1,090.00, a P/E ratio of 27.54 and a beta of 0.98. Chase Co. has a 1 year low of $82.85 and a 1 year high of $129.55.
Insider Buying: Kingsway Financial Services Inc. (NYSE:KFS) Director Acquires 2,566 Shares of Stock (The Ledger Gazette)
Kingsway Financial Services Inc. (NYSE:KFS) (TSE:KFS) Director Joseph Stilwell purchased 2,566 shares of the stock in a transaction on Thursday, December 28th. The stock was acquired at an average cost of $5.05 per share, for a total transaction of $12,958.30. The transaction was disclosed in a document filed with the SEC.
