Anthony Scaramucci Says Trump will Get Fired but Markets Won’t Care (CNN)
New York (CNN Business) Anthony Scaramucci believes President Trump will get removed from office for his “prima facie lawlessness.” “The jig is up,” the former White House communications director told CNN Business on the “Markets Now” live show Wednesday. “The guy committed a criminal act as president of the United States. Just look at the transcript.” Scaramucci, founder of Skybridge Capital, said the just released transcript of Trump’s conversation with Ukrainian President Volodymyr Zelensky is an untenable political situation for Republicans. “They’ll rally together and kick him out,” Scaramucci said. “They know they’re better off without him than with him.”
Tiger Global Poised to Reap $1 Billion Profit on Peloton (Bloomberg)
Chase Coleman’s Tiger Global Management spent the past five years amassing a stake of almost 20% in exercise company Peloton Interactive Inc. That is about to pay off handsomely. The hedge fund firm will record a profit of at least $1 billion on its investment in the startup if it goes public in coming days at $26 a share, the bottom of the expected price range, said a person familiar with the matter who asked not to be identified because the information is private. Tiger Global is poised to reap a 70-fold increase on its initial investment in 2014, according to data from EquityZen, a marketplace for private stock sales. It also participated in subsequent funding rounds.
Activist Wants Marathon Petroleum to Split off Speedway Gas Stations and is Gaining Support (CNBC)
The call for Marathon Petroleum to split into separate businesses is gaining momentum among activist investors. Billionaire Paul Singer’s hedge fund Elliott Management sent a letter to the board of Marathon on Wednesday, urging the refiner to divide into separate retail, midstream and refining companies to “remedy the company’s chronic underperformance.” Elliott owns about 2.5% in Marathon. Hedge fund D.E. Shaw, which owns a similar sized stake in Marathon as Elliott, is also supporting the breakup of Marathon, including spinning off Speedway gas stations, sources familiar with the matter told CNBC’s David Faber.
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Narrowly Focused Fund Lifts Segra’s Assets (HFAlert.com)
In a clear sign of investor appetite for niche strategies, a fund that trades the shares of companies in the nuclear-fuel sector has raised nearly $100 million since launching last year. Segra Capital of Dallas has stopped admitting new investors to its Segra Resource Partners fund after capping a founders share class with discounted fees. The fund counts several pension plans among its limited partners. Strong demand for the offering has boosted Segra’s overall assets to about $130 million. Segra founder and fund portfolio manager Adam Rodman has been telling investors that the vehicle is the first hedge fund targeting the nuclear-fuel sector to launch since the Fukushima nuclear disaster in 2011. It’s no wonder, given the sector’s dramatic contraction in recent years.
Global Hedge Fund Software Market Analysis, Size, Share, Growth, Trends and Forecasts 2019-2025 (CommerceGazette.com)
The Hedge Fund Software market report [6 Year Forecast 2019-2025] focuses on Major Leading Industry Players, providing info like Hedge Fund Software market competitive situation, product scope, market overview, opportunities, driving force and market risks. Profile the top manufacturers of Hedge Fund Software, with sales, revenue and global market share of Hedge Fund Software are analyzed emphatically by landscape contrast and speak to info. Upstream raw materials and instrumentation and downstream demand analysis is additionally administrated. The Hedge Fund Software market business development trends and selling channels square measure analyzed. From a global perspective, It also represents overall Hedge Fund Software industry size by analyzing qualitative insights and historical data.
Nordic HFs Among the World’s Best (Hedge Nordic)
Stockholm (HedgeNordic) – Several Nordic hedge funds beat most of their global peers in their respective strategy categories over the past three years. HCP Focus, Asgard Fixed Income Fund, Danske Invest Hedge Fixed Income Strategies, and Shepherd Energy Portfolio feature in BarclayHedge’s latest quarterly rankings, which present the top ten (sometimes 20) best performing funds across over 20 different strategies based on previous three- or five-year returns. Out of 363 funds, Finnish HCP Focus ranked as the third-best performing long-only equity hedge fund in the world over the previous three years that ended June with an annualized return of 22.8 percent.
Hedge Fund Redemptions Continue in August, but Less Widespread (HedgeWeek.com)
Investors redeemed an estimated USD6.51 billion from the global hedge funds business in August 2019, bringing year-to-date (YTD) flows to a negative USD63.61 billion, according to the August 2019 eVestment Hedge Fund Asset Flows Report. Performance also reduced assets as total industry AUM declined to USD3.259 trillion last month. The majority of primary strategies eVestment tracks actually saw asset inflows, but large outflows among Macro hedge funds (-USD6.18 billion) and Long/Short Equity funds (-USD5.33 billion) in August dwarfed those other inflows. YTD Long/Short Equity funds are the biggest asset losers among primary strategies eVestment tracks, seeing outflows of -USD31.14 billion so far this year.
Omega’s Cooperman Says 3 Stocks Will Lead Bull Run Far From Over (Investopedia.com)
Billionaire hedge-fund investor Leon Cooperman thinks the 10-year-old great bull stock market is far from over, which to him means there is plenty of upside left. Quite simply, bull markets don’t end when stocks reach fair valuations, which is the case today, the CEO of Omega Advisors said. But in order to get the most out of a market that still has room to climb, he offers three picks with attractive looking valuations, according to a recent story from Business Insider.
Will Hedge Funds Stop Bleeding Assets? (Hedge Nordic)
Stockholm (HedgeNordic) – In August, investors pulled money out of the hedge fund industry for a sixth consecutive month, with the industry suffering net outflows in eleven of the last twelve months. According to eVestment, investors redeemed an estimated $6.5 billion from the industry last month, which brought the year-to-date outflows to $63.6 billion. Net outflows and negative performance reduced the industry’s overall assets under management to $3.26 trillion. Last month’s net outflows from the industry are mainly attributable to net redemptions from macro and long/short equity funds. Most other strategy categories tracked by eVestment experienced net inflows.
Crystal Capital Partners Launches New PE & Hedge Fund Portfolio Construction Platform (HedgeWeek.com)
Crystal Capital Partners has rolled out a new proprietary e-commerce portfolio construction platform that aims to make building institutional private equity and hedge fund portfolios as simple as adding items to an online shopping cart. Advisors can select from a diverse list of vetted institutional private equity and hedge fund exposures across various strategies, add them to their cart and, within seconds, generate an institutional-quality portfolio proposal for client presentations. “With 25 years at the forefront of alternative investing, it is our ongoing commitment to remove the complexities and barriers to entry associated with the asset class and to smoothly pave the way for ongoing growth that’s in constant synchronicity with improved client experience.
Interview with 21 Year Old Hedge Fund Manager/ Banz Capital CEO John Iadeluca (TechBullion.com)
John Iadeluca is the Founder and CEO of Banz Capital Digital Asset Fund, LP, a multi-strategy hedge fund that engages exclusively in the cryptocurrency and blockchain/digital markets. Last year, Techbullion interviewed John Iadeluca when he was 20 years old and preparing to launch Banz Capital. With Banz since being launched, Iadeluca, now 21, has become one of the youngest Wall Street CEOs; but he’s made it clear he won’t allow his age to excuse management performance.
Former JP Morgan Banker Twice Convicted of Insider Trading (InternationalInvestment.net)
A former JP Morgan and Wall Street investment banker has been convicted for the second time on a charge of insider trading. A federal jury in New York convicted Sean Stewart of securities fraud and conspiracy, three years after he illegally tipped off his father, enabling him to trade on the back of health care merger deals in the US. Sean Stewart on Monday was again convicted of insider trading over a purported scheme to leak confidential information about health care company mergers for his father to trade on. More than three years after Sean Stewart first stood trial on charges stemming from his purported illegal tipping off of his father, Robert Stewart, about health care industry deals he was again found guilty of securities fraud and conspiracy. Both Sean Stewart and his father pleaded guilty.
Aldeyra Therapeutics Inc (ALDX) President and CEO Todd C Brady Bought $50,431 of Shares (Guru Focus)
President and CEO of Aldeyra Therapeutics Inc., Todd C Brady, bought 8,680 shares of ALDX on 09/23/2019 at an average price of $5.81 a share. The total cost of this purchase was $50,431. Aldeyra Therapeutics Inc is biotechnology company focused on the development of products for inflammation, inborn errors of metabolism, and other diseases, related to endogenously generated toxic and pro-inflammatory chemical species known as aldehydes.
U.S. SEC Settles Potato Chip Insider Trading Case (Reuters)
(Reuters) – Four Alabama men agreed to settle U.S. Securities and Exchange Commission charges of insider trading related to the 2016 merger of the makers of Utz and Golden Flake potato chips, the regulator said on Tuesday. The SEC said Birmingham real estate developer James Nall III had learned about privately-held Utz Quality Foods LLC’s planned purchase of Golden Enterprises Inc from his father, a longtime Golden director.
A Director at RH (NYSE: RH) is Selling Shares (Analyst Ratings)
Yesterday, a Director at RH (RH), Kathleen Mitic, sold shares of RH for $1.18M. Following Kathleen Mitic’s last RH Sell transaction on June 30, 2014, the stock climbed by 75.6%. This is Mitic’s first transaction since reporting a Sell transaction on EBAY back in May 2017.
Comscore Inc. and Former CEO Charged with Accounting and Disclosure Fraud (HedgeCo.net)
(HedgeCo.Net) The Securities and Exchange Commission has charged global information and media analytics firm, Comscore, Inc., and its former CEO with engaging in a fraudulent scheme to overstate revenue by approximately $50 million and making false and misleading statements about key performance metrics. The SEC’s orders find, among other things, that from February 2014 through February 2016, Comscore, at the direction of its former CEO Serge Matta, entered into non-monetary transactions for the purpose of improperly increasing its reported revenue. Through these transactions, Comscore and a counterparty would negotiate and agree to exchange sets of data without any cash consideration.
