Analysis: Hedge Fund Guru Bill Ackman Could Snap Up a Unicorn or Two (RealDaily.com)
Bill Ackman is the most confident man I have never met. In multiple interviews over the years on CNBC, I cannot recall him ever admitting a bad investment. Pay no attention to the man behind the curtain who bought J.C. Penney and Valeant Pharmaceuticals. Ackman’s latest idea is a publicly traded SPAC — Special Purpose Acquisition Company. A SPAC is a company with no operations of its own. It exists solely to raise capital to acquire another company. The advantage is that it is an easier means for a private company to raise capital and go public than through the long IPO process or a direct listing.
Citadel Hedge Fund Exec Buys Palm Beach Home for $10M (TheRealDeal.com)
Citadel has a temporary trading room at the Four Seasons Palm Beach. Esure insurance founder and chairman Peter J. Wood sold a Palm Beach home to Edwin Lin, who heads Citadel’s global fixed income practice. Wood, an English multimillionaire businessman, sold the 6,278-square-foot house at 113 Clarke Avenue for $9.65 million, or $1,537 per square foot. Lin and his wife, Vivian Chiu of New York, purchased the property, records show.
Companies Thirst for Capital (Hedge Nordic)
Stockholm (HedgeNordic) – Formue Nord Fokus, a niche hedge fund focused on offering financing solutions to small- and mid-cap companies, now becomes available to new investors for the first time since launching in September 2018. The fund gained 19.6 percent in the first seven months of 2020, reflecting “a culmination of many factors all playing out in our favour,” according to investment manager Mikkel Hagel. Formue Nord Fokus is the sister fund of multiple-award-winning Formue Nord Markedsneutral. Managed by a team of five out of Aalborg in Denmark, both funds focus on financing small-and mid-cap companies and maintain market beta-neutral portfolios by using equity index futures and other derivatives.
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Swedish Multi-Strategy Hedge Fund Brummer Maintains Momentum in July (Hedge Week)
Brummer & Partners, a Stockholm-based multi-strategy hedge fund firm, continued to generate positive performance as markets moved into the second half of the year, notching up gains across its trend-following, equity, credit and relative value strategies in July. The Brummer Multi-Strategy multi-manager fund – which invests in a range of single-strategy hedge funds – gained 1.1 per cent in its SEK share class, and 1.2 per cent in its USD class, during July. Year-to-date, the fund has now advanced 3.8 per cent.
Startup XN Assembles Army of Professionals (HFAlert)
The operator of one of the biggest hedge funds to launch this year also started with 2020’s deepest day-one staff. XN, led by Gaurav Kapadia, started trading on July 1 with more than $1 billion of commitments. It already has 22 employees, including alumni of big-name firms including Citadel, D.E. Shaw, Elliott Management and Soros Fund Management. The team also includes personnel who worked with Kapadia at former employer Soroban Capital, creating a sense of continuity that investors find appealing. The ex-Soroban staffers include partner Ashish Doshi, who is set to arrive after waiting out a gardening leave. Doshi was the first analyst hired when Soroban started in 2010, working closely with Kapadia. Earlier, he was at Blackstone.
Church & Dwight Co Inc (CHD) EVP New Products & Pres Int’l Steven P Cugine Sold $1.9 million of Shares (Guru Focus)
EVP New Products & Pres Int’l of Church & Dwight Co Inc., Steven P Cugine, sold 20,000 shares of CHD on 08/03/2020 at an average price of $94.17 a share. The total sale was $1.9 million. Church & Dwight Co Inc is engaged in the household products industry. It manufactures and markets personal care products under brands like Oxiclean, Spinbrush, First Response and Trojan.
Wednesday 8/5 Insider Buying Report: LDL, WAB (Nasdaq.com)
On Monday, Lydall’s Director, Matthew Farrell, made a $492,998 purchase of LDL, buying 30,000 shares at a cost of $16.43 each. Farrell was up about 22.4% on the buy at the high point of today’s trading session, with LDL trading as high as $20.12 at last check today. Lydall, is trading up about 4.3% on the day Wednesday. This buy marks the first one filed by Farrell in the past twelve months. And also on Monday, Director Linda S. Harty purchased $309,670 worth of Wabtec, purchasing 5,000 shares at a cost of $61.93 a piece. Wabtec is trading up about 0.7% on the day Wednesday. Harty was up about 1.0% on the purchase at the high point of today’s trading session, with WAB trading as high as $62.55 at last check today.
Roku Inc (ROKU) CEO and Chairman BOD Anthony J. Wood Sold $5.6 million of Shares (Guru Focus)
CEO and Chairman BOD of Roku Inc., Anthony J. Wood, sold 35,000 shares of ROKU on 08/03/2020 at an average price of $160.28 a share. The total sale was $5.6 million. Roku Inc operates TV streaming platform in the United States. Its TV streaming platform allows users to discover and access a variety of movies and TV episodes, as well as live sports, music, news and more.
A Director at Tandem Diabetes Care (NASDAQ: TNDM) is Selling Shares (Analyst Ratings)
Yesterday, a Director at Tandem Diabetes Care (TNDM), Christopher J. Twomey, sold shares of TNDM for $275K. Following Christopher J. Twomey’s last TNDM Sell transaction on July 07, 2020, the stock climbed by 3.8%. In addition to Christopher J. Twomey, 3 other TNDM executives reported Sell trades in the last month.
