D.E. Shaw Names Second Woman to Hedge Fund’s Executive Committee (Bloomberg)
(Bloomberg) — D.E. Shaw & Co. appointed investor relations head Alexis Halaby, a managing director, as the sixth member of the hedge fund’s executive committee. Halaby, 39, is the second woman to join the group, which is responsible for making strategic decisions, according to a spokesman for New York-based D.E. Shaw. Founder David Shaw, who’s mostly focused on computational biochemistry research, tasked the committee with steering the firm. Its other members include Anne Dinning, Eddie Fishman, Julius Gaudio, Max Stone and Eric Wepsic.
Warren Buffett’s Deputy Grew His Retirement Account from $70,000 to $264 Million in 29 Years, ProPublica Reports (Business Insider)
Warren Buffett built much of his fortune by saving diligently, investing shrewdly, and compounding his money over multiple decades. Ted Weschler, one of the investor’s deputies at Berkshire Hathaway, grew his retirement fund from $70,000 to $264 million using the same approach, ProPublica reported this week. Weschler – who helps Buffett manage Berkshire’s $270 billion stock portfolio – told ProPublica in a statement that he opened his individual retirement account (IRA) in 1984, when he was 22 years old and earning $22,000 a year as a junior financial analyst.
Nomura CEO Paid $2.9 Million in Year Capped by Archegos Saga (Bloomberg)
Nomura Holdings Inc.’s Kentaro Okuda was paid 320.4 million yen ($2.9 million) during his first year as chief executive officer that concluded with the implosion of Archegos Capital Management. Okuda also received a 16 million yen housing allowance, according to an annual securities filing on Friday. That compares with the 422 million yen Okuda’s predecessor Koji Nagai was paid during his final year as CEO. Nagai, now the chairman of Japan’s largest brokerage, received 192.2 million yen in pay last year, according to the filing.
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ESG Investing Launches Anti-Greenwashing Accreditation Service for Investment Funds (InstitutionalAssetManager.co.uk)
ESG Investing, a multi-media platform devoted to ESG and sustainable investing, has launched Greenlight, an accreditation service for ESG funds and products. Greenlight gives fund providers the opportunity to have their products assessed by a panel of academic experts from leading institutions including Columbia Business School, Durham University, The London School of Economics, University of Bristol, University of Manchester and University of Oxford. The panel will assess if a fund is material in its reported sustainability and will also scrutinise the fund for the likelihood of unintentional adverse ESG outcomes, ensuring its sustainability impact is holistically assessed.
Plain Spoken Hedge Fund Manager Stands by 33 Year-Old Son (eFinancialCareers)
It’s not always the case that the children of parents who’ve made fortunes in finance opt to go into the family career. Look at Skylar Handler, daughter of Jefferies’ CEO Rich Handler, who seems to work for a talent and branding agency, or Jes Staley’s daughter Alex, who at one point had something to do with drones but now appears to be a product manager. There are also plenty of finance progeny who’ve gone into music. One of the musicians is/was Winston Marshall, the 33 year-old son of Paul Marshall, the 61 year-old co-founder and chairman of hedge fund Marshall Wace. Until yesterday, Winston was the lead guitarist/banjo player for the band Mumford & Sons.
AIR Asset Management Life Settlement Multi-Strategy Surpasses USD160m in Assets (Hedge Week)
AIR Asset Management, a hedge fund management firm focused on longevity-linked investments such as life settlements and annuities, has announced that the AIR US Life Fund II strategy has exceeded USD160 million in assets under management. The strong increase in the strategy’s assets has helped to fuel AIRAM’s rapid pace of growth as a firm. Despite the challenging environment over the last 18 months, AIRAM has been able to increase assets under management to over USD430 million. The firm believes this is a testament to the value and stability they provide for their investors.
ATIF-1 Hedge Fund Receives US$1 Million Subscription from ATIF’s Chairman of The Board (MarketWatch)
LOS ANGELES, June 24, 2021 /PRNewswire via COMTEX/ — LOS ANGELES, June 24, 2021 /PRNewswire/ — ATIF Holdings Limited (Nasdaq: ATIF), a holding group providing business and financial consulting in Asia and North America, announced that its newly launched ATIF-1 Hedge Fund has received US$1 million subscription through President and Chairman of the Board, Jun Liu’s investment. The subscription is a firm expression of Liu Jun’s support and endorsement of the fund’s management team and his belief that ATIF-1 Hedge Fund will provide investors with substantial returns in the future.
Friday 6/25 Insider Buying Report: TALK, CYT (Nasdaq.com)
On Tuesday, Talkspace’s Director, Douglas L. Braunstein, made a $50M buy of TALK, purchasing 5,000,000 shares at a cost of $10.00 a piece. Bargain hunters can snag TALK at a price even lower than Braunstein did, with shares trading as low as $8.81 at last check today — that’s 11.9% under Braunstein’s purchase price. Talkspace is trading off about 2.1% on the day Friday. This purchase marks the first one filed by Braunstein in the past year. And at Cyteir Therapeutics, there was insider buying on Tuesday, by Director Janwillem Naesens who bought 277,777 shares at a cost of $18.00 each, for a trade totaling $5M. Cyteir Therapeutics is trading up about 6% on the day Friday.
The Chairman & CEO of DXP Enterprises (NASDAQ: DXPE) is Buying Shares (Analyst Ratings)
Today, the Chairman & CEO of DXP Enterprises (DXPE), David Little, bought shares of DXPE for $860.7K. This recent transaction increases David Little’s holding in the company by 2.26% to a total of $42.35 million. The company has a one-year high of $35.98 and a one-year low of $15.42. Currently, DXP Enterprises has an average volume of 76.23K. DXPE’s market cap is $600 million and the company has a P/E ratio of -16.20.
Snowflake Inc (SNOW) CEO and Chairman Frank Slootman Sold $7.8 million of Shares (Guru Focus)
CEO and Chairman of Snowflake Inc, Frank Slootman, sold 31,546 shares of SNOW on 06/21/2021 at an average price of $247.31 a share. The total sale was $7.8 million.
