This Fund Manager Tells How He’s Able To Time The Market (Forbes)
The old investing adage says, “Buy low and sell high,” which should be every investor’s goal. However, many retail investors tend to buy high and sell low as they attempt to time the market but just end up trading on knee-jerk reactions based on news headlines. Virtually every financial publication has the same advice for investors: don’t try to time the market! However, one hedge fund manager boldly claims to be able to do it. The name of his fund, the Systematic Market Timing Fund, even highlights this claim.
Hedge Fund BFAM Loses 10% This Year on China Debt, Ruble Trades (Bloomberg)
BFAM Partners’ multi-billion dollar multistrategy hedge fund lost another 6.2% in March on China credit and volatility trades, including the ruble, said people with knowledge of the matter. The March drop extended the first-quarter decline of the BFAM Asian Opportunities Fund to 9.7%, said the people, who asked not to be identified as the information is private. Its assets under management slipped to $3.6 billion, said one of the people.
Elliot Management to score with AC Milan sale (Hedge Week)
Elliot Management, the hedge fund firm headed by Paul Singer is set to cash in on AC Milan after entering into talks for the sale of the Series A football club for €1 billion, according to a report by Nasdaq.com. Eliot took control of the Rossoneri in 2018 for an effective value of €400 million in 2018 when the club’s Chinese owners defaulted on a €32 million payment. Elliott had previously provided the owners with a €300 million loan.
Tuesday 4/19 Insider Buying Report: BLK, ANNX (Nasdaq.com)
At Blackrock, a filing with the SEC revealed that on Monday, Director William E. Ford bought 3,000 shares of BLK, at a cost of $687.96 each, for a total investment of $2.06M. Blackrock is trading up about 2.3% on the day Tuesday. This purchase marks the first one filed by Ford in the past year. And on Thursday, CEO Douglas Love purchased $146,814 worth of Annexon, purchasing 60,000 shares at a cost of $2.45 a piece. This purchase marks the first one filed by Love in the past twelve months. Annexon is trading up about 6.6% on the day Tuesday. Bargain hunters can bag ANNX even cheaper than Love did, with the stock trading as low as $2.22 in trading on Tuesday which is 9.3% below Love’s purchase price.
Insider Weekends: Mark Peek Purchases $1 Million Worth Of SentinelOne, A Cybersecurity Company + Notable Insider Buys (Benzinga)
Notable Insider Buys: 1. SentinelOne, Inc. (S) : $37.12. Director Mark S. Peek acquired 30,000 shares of this cybersecurity provider, paying $34.40 per share for a total amount of $1.03 million. These shares were purchased indirectly through a trust. 2. Rocket Companies, Inc. (RKT): $9.39. Chief Executive Officer Jay Farner acquired 61,500 shares of this tech-driven real estate, mortgage, and e-Commerce business, paying $9.72 per share for a total amount of $597,710. Mr. Farner increased his stake by 3.80% to 1,681,707 shares with this purchase.
