Keeping Investing Fees Low Matters (Dividend Growth Investor)
Warren Buffett is one of the most successful investors in the world. He is the chairman and controlling shareholder of Berkshire Hathaway, which he acquired in 1965. The nice thing about Buffett is that he always treated his investors fairly. As a Chairman and CEO of Berkshire Hathaway he has earned an annual salary of $100,000/year. This is nothing, in comparison to high cost mutual fund managers or high cost hedge fund managers. You could have benefitted from the investment success of Warren Buffett for mere peanuts. The reason perhaps is because he had skin in the game, and the majority of his net worth is tied into the success of Berkshire Hathaway. This aligns Buffett’s interest with the interests of ordinary shareholders.
YouTube Cofounder Steve Chen Launches Hedge Fund That Uses AI To Make Investment Decisions (Forbes)
YouTube cofounder Steve Chen is partnering with veteran money manager Jack Fu to launch a hedge fund that picks stocks and fixed-income assets through the use of artificial intelligence. The Draco Capital Macro Quant Fund has already raised $50 million with a goal of $200 million by the end of 2021, Chen said last week. The fund that debuted in September uses an AI algorithm to gauge which assets are ideal for both bull and bear markets, he says.
Growing Presence at EuroHedge Awards (Hedge Nordic)
Stockholm (HedgeNordic) – The updated list of nominees for the upcoming 2020 EuroHedge Awards features more Nordic names. Fixed-income relative-value fund Frost, which was shortlisted in the “Fixed Income” category in the first round of nominations, will also compete for the main prize in the “New Fund of the Year – Macro, Fixed Income & Relative Value” category. Six additional members of the Nordic Hedge Index joined the initial list of nominees – which initially featured 19 different Nordic names – at the 2020 EuroHedge Awards.
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Dyal Capital and Owl Rock agree $12.5bn SPAC merger and IPO (Opalesque.com)
Neuberger Berman’s Dyal Capital Partners and direct lender Owl Rock Capital have agreed to combine in a complex deal to take them public via a blank cheque vehicle. The two firms will combine with a special purpose acquisition company (SPAC), Altimar Acquisition Corp., to form a publicly traded alternative investment firm, Blue Owl Capital overseeing assets worth $45 billion. Altimar is sponsored by alternative investment firm HPS Investment Partners. The merged company is expected to have a market capitalization of about $12.5 billion and to be listed on the NYSE under the new ticker OWL.
Ken Griffin Sells Miami Beach Penthouses At A Loss (Celebrity Networth)
Hedge fund billionaire and real estate aficionado Ken Griffin is selling two Miami Beach penthouses in the super exclusive Faena House development. He bought the townhouses five years ago and recently sold them at a loss of at least 20%. He sold the larger penthouse for $35 million and the smaller unit is under contract for an undisclosed amount, but was on the market for $12.5 million. Griffin bought the two units for $60 million in 2015. If the smaller unit gets its asking price, the total would be $47.5 million, 20% less than he paid.
Hedge Funds’ £1bn Bet on More Retail Misery (The Times)
Hedge funds have placed a £1 billion bet that there is more trouble in store for the nation’s retailers, despite 2020 having been the most miserable year for the British high street since the financial crisis more than a decade ago. While non-essential retailers have suffered most during the pandemic because of store closures, J Sainsbury is the shopping sector’s biggest target for short-sellers, with 8 per cent of shares in Britain’s second largest supermarket on loan to hedge funds.
State Street looks at merger or sale options for SSGA (Pensions & Investments)
State Street Corp., Boston, is seeking to expand the investment management capabilities of State Street Global Advisors or possibly sell the asset management unit, which as of Sept. 30 reported $3.15 trillion in assets under management. Industry sources who spoke on condition of anonymity confirmed that Goldman Sachs Group Inc.’s New York-based investment banking unit has been discussing SSGA with potential acquirers, merger partners or collaborators, including Invesco Ltd., UBS Group AG and The Vanguard Group Inc.
Monday 12/28 Insider Buying Report: GBDC, COUP (Nasdaq.com)
At Golub Capital BDC, a filing with the SEC revealed that on Wednesday, Chairman Lawrence E. Golub purchased 4,000 shares of GBDC, for a cost of $13.90 each, for a total investment of $55,614. Golub Capital BDC is trading up about 0.4% on the day Monday. Before this latest buy, Golub bought GBDC on 48 other occasions during the past year, for a total cost of $16.13M at an average of $12.89 per share. And at Coupa Software, there was insider buying on Wednesday, by Michelle Brennan who purchased 100 shares for a cost of $358.57 each, for a trade totaling $35,857. Coupa Software is trading off about 2.6% on the day Monday.
Notable Insider Buys In The Week Of Christmas: Foot Locker, GameStop, NetApp And More (Benzinga)
Here are some of the most noteworthy insider purchases that were reported in the past week, as the year winds down and investors ponder the new year. The recent Bioatla Inc (BCAB) IPO encouraged a former 10% owner and a director to buy in. The almost 2.19 million shares they acquired altogether at $18 per share added up to around $39.4 million. Shares of this San Diego-based biopharma company ended last week’s trading at $31.82 apiece. Daniel Loeb, a 10% owner, purchased a big block of Upstart Holdings Inc (UPST) shares at the initial public offering price of $20 apiece. The total for the 1.20 million shares of this cloud-based lending platform operator that owner acquired added up to $24 million. The shares ended the week’s trading at $43.96 apiece, after hitting a post-IPO high of $51.40.
Twilio Inc (TWLO) CEO Jeff Lawson Sold $18 million of Shares (Guru Focus)
CEO of Twilio Inc, Jeff Lawson, sold 49,500 shares of TWLO on 12/21/2020 at an average price of $363.78 a share. The total sale was $18 million. Twilio Inc provides a cloud communications platform that enables developers to build, scale and operate communications within software applications through the cloud as a pay-as- you-go service.
The Chairman & Chief Executive Officer of Therma Bright (Other OTC: THRBF) is Selling Shares (Analyst Ratings)
Today, the Chairman & Chief Executive Officer of Therma Bright (THRBF), Roberto Fia, sold shares of THRBF for $546.3K. The Company has a Price to Book ratio of 233.63. THRBF’s market cap is $27.89 million and the company has a P/E ratio of -23.60. Currently, Therma Bright has an average volume of 191.02K.
Insider trading: SEBI drops insider-trading case against Dynamatic CEO (TheHinduBusinessLine.com)
SAT rejected SEBI’s order at the admission stage; it did not stand the test in SC too. Market regulator SEBI has dropped an insider trading case against Udayant Malhoutra, CEO and MD of aerospace company Dynamatic Technologies (DTL). SEBI’s reversal of stance came after its earlier order could not stand the test in the Securities and Appellate Tribunal (SAT). SAT found SEBI’s order so erroneous that it rejected it at the admission stage itself.
