Hedge Fund Predicts $115K Bitcoin Price and the Fall of ‘Speculative’ Altcoins (Bolly Inside)
New details from Pantera Capital, an expenditure agency and hedge fund, implies that Bitcoin’s (BTC) current cost motion is intently next the stock-to-adhere to model’s trajectory and the firm’s analysts believe that BTC will arrive at $115,212 by Aug. 1. Bitcoin’s parabolic rally may have placed the selling price a little bit ahead of the model’s projection and this week’s 28% correction sent short term shivers throughout the current market but sharp corrections and short consolidation periods are attribute of bull marketplaces.
Global Hedge Funds Struggle Even in a More Open China Market (Pensions&Investments)
Global asset managers are struggling to find a foothold in China’s 3.74 trillion yuan ($578 billion) hedge fund industry, despite long-awaited policy changes designed to give foreigners more paths to invest. In November, China expanded access for more than 400 foreign institutions like UBS Group and Citigroup, allowing them to invest through private securities funds, the local version of hedge funds.
Warren Buffett’s 2020 Scorecard (Morning Star)
Billionaire investor Warren Buffett had a mixed year by his standards, with some winners such as Apple and Snowflake balanced by banks and energy. In a tough year for most investors, even Warren Buffett had a mixed year by his standards. The share price of his Berkshire Hathaway (BRBK.B) investment company inched forward by just 2.5%, lagging major US benchmarks like the S&P 500. Top holding Apple (AAPL) had a stellar year and an investment in data IPO Snowflake (SNOW) proved an immediate hit. But there were a number of misses too, with investments in US banks and financial services proving costly.
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Video: Best Year in A Decade for Nordic HF – December Review (Hedge Nordic)
Stockholm (HedgeNordic) – Few would have predicted the Nordic Hedge Index would deliver the highest returns in a decade and end the year at an all-time-high after the first quarter of 2020! The NHX Composite rallied by 2.7% in December to close up 8.4% on the year. All sub-strategies are popping up in green: NHX-CTA advancing by 3.7%, Equities adding 4.1% and Multi-Strategy funds 2%, respectively. Nordic Fixed Income Strategies advanced by 0.5% and Fund of Funds climbed 1.6%.
Impairment Charge Sends GAM Further into the Red – But Swiss Manager Sees Investment Flows Rise in Q4 (Hedge Week)
Switzerland-headquartered global asset manager GAM, which is home to Cambridge-based quantitative hedge fund unit GAM Systematic, is set to post a CHF380 million (USD426.4 million) loss in its full-year 2020 results published next month. The loss stems mainly from a CHF377.7 million impairment charge announced in its first half results published last August, which relates to legacy goodwill resulting from the acquisition of GAM by Julius Baer in 2005 and UBS in 1999.
What ESG Transparency in Portfolio and Asset Governance Can Tell Us about ESG Commitment (Preqin)
Could a lack of ESG transparency be a sign of greenwashing, or does it point to the continued evolution of an industry still learning what ESG means and how to fully commit? As part of Preqin’s Sustainability Solutions effort to make private capital more sustainable and transparent, we have designed a model for measuring and comparing environmental, social, and governance (ESG) factors across the industry. The data provides a highly detailed and comparable breakdown of ESG profiles across LPs, GPs, and funds.
Active-Management Alpha Now Key to Hedge Funds’ Success, as Economies Emerge from Covid Slump (Hedge Week)
K2 Advisors, the hedge fund investing unit of Franklin Templeton, says active-management alpha will be critical to hedge funds’ success this year, as the global economy mounts a tentative recovery from the coronavirus pandemic. Brooks Ritchey and Robert Christian, co-heads of investment research and management at K2, said the Covid-driven economic slowdown appears to be nearing an end, as individuals and corporations have been able to weather the economic storm partly due to “enormous stimulus” from governments.
More Traders Likely Face Charges in Danish Cum-Ex Probes (1) (Bloomberg Law)
Danish prosecutors who charged hedge-fund manager Sanjay Shah with running a $1.6 billion tax fraud say they’re looking at a “number of other suspects” in the case. Prosecutors said they’ll be in a position by March to decide whether to press charges against more members of a network that they say was set up to defraud the government in the biggest and most complex tax case in history. Prosecutors still need to finish some of their investigation, including interviewing “several people,” Per Fiig, acting head of the State Prosecutor’s Office, said in an interview.
Enlabs Shareholder Hedge Fund to Fight “Inadequate” Entain Takeover Bid (EGR)
Major Enlabs shareholders have joined forces to rebuff the acceptance of a £250m takeover bid from Entain. Alta Fox Capital Management, which owns a 3.34% stake in Enlabs, confirmed it would reject any overtures by the FTSE 100 operator to purchase its shareholding at the proposed offer price of SEK40 per share. “This offer materially…
Insider Trading: January 18, 2021 (BIV.com)
Insider Mans Johansson, officer. Company: Canfor Pulp Products Inc. (TSX:CFX). Shares owned: 108,000. Trade date: Jan 11. Trade total: $801,360. Trade: Acquisition of 108,000 shares at a price of $7.42 per share. Insider David Tokpay Kong, director. Company: New Pacific Metals Corp. (TSX:NUAG). Shares owned: 181,000. Trade date: Jan 7, 8. Trade total: $118,340. Trade: Sale of 14,000 shares at prices from $8.16 to $8.63 per share.
Notable Insider Buys Of The Past Week: Conagra Brands Plus Plenty Of Biotech Activity (Benzinga)
Clinical-stage biopharmaceutical company Fate Therapeutics Inc (FATE) had a 10% owner increase its stake at a time when the chief executive and other officers were selling shares. The more than 327,400 shares acquired, at a public offering price of $85.50 apiece, added up to nearly $28.00 million. That raised that owner’s stake to more than 12.95 million shares, compared to a total float of more than 85 million. Shares closed most recently at $113.59. Biotech company Aldeyra Therapeutics Inc (ALDX) saw a 10% owner recently add 1.05 million shares to their stake. At $7.49 to $10.43 per share, the transactions totaled more than $9.20 million. The stock closed most recently at $13.37, which is above the purchase price range. Note that this Lexington, Massachusetts-based company also announced a secondary offering of shares at $9.50 apiece.
An Insider at Canadian Railway (NYSE: CNI) is Selling Shares (Analyst Ratings)
Today, an Insider at Canadian Railway (CNI), William Henry Gates, sold shares of CNI for $87.06M. Over the last month, William Henry Gates has reported another 5 Sell trades on CNI for a total of $232.8M. The company has a one-year high of $116.16 and a one-year low of $65.13. Currently, Canadian Railway has an average volume of 494.13K. CNI’s market cap is $79.24 billion and the company has a P/E ratio of 31.00.
Cloudflare Inc (NET) President and COO Michelle Zatlyn Sold $11.7 million of Shares (Guru Focus)
President and COO of Cloudflare Inc, Michelle Zatlyn, sold 146,100 shares of NET on 01/15/2021 at an average price of $80.32 a share. The total sale was $11.7 million. Cloudflare Inc has a market cap of $23.92 billion; its shares were traded at around $77.850000 with and P/S ratio of 59.93.
Intelsat Chairman Being Sued for Alleged Insider Trading in Shareholder Lawsuit (Fox Business)
Legal papers claim David McGlade sold stock in satellite operator hours after finding out FCC ruling against proposal. The chairman of satellite operator Intelsat is being sued for insider trading in an explosive new shareholder lawsuit that also dings private-equity giants BC Partners and Silver Lake Partners, a New York Knicks shareholder.
