Bill Ackman Owns 7 Stocks After his $1.1 Billion Bet on Netflix. Here’s Why He Bought Each of Them. (Business Insider)
Bill Ackman bought around 3.1 million shares in Netflix last month. The billionaire activist investor’s hedge fund Pershing Square owns just 7 stocks. Ackman made $2.6 billion betting that coronavirus would cause a stock market crash in 2020. Billionaire investor Bill Ackman hit headlines last month when he disclosed a $1.1 million bet on Netflix stocks – despite the recent drop in stock of the streaming giant from $701 to just over $400.
Buy Stocks Like Whirlpool — Not NFTs, Asset Manager Says (CNBC)
Investors should be looking to pick up stocks like Whirlpool and avoid assets like CryptoPunks NFTs, according to Jeff Henriksen, CEO and founder of Thorpe Abbotts Capital. Speaking to CNBC’s “Squawk Box Europe” on Monday, the Virginia-based hedge fund manager said despite the dominant market narratives around inflation, central bank tightening, supply chain problems and Covid-19, the U.S. economy remains robust and the improvement in labor force participation is a “very bullish” long-term signal.
Ethical Hedge Fund Beats 97% of Peers by Dodging Tech Rout (Bloomberg)
This year’s slump in U.S. technology stocks has the potential to drive many ESG investors toward Europe in search of better returns, according to a top-performing sustainable hedge fund. While big-name technology companies such as Facebook owner Meta Platforms Inc. have long been mainstays of ESG funds, there are plenty of European companies that offer more enduring environmental, social and governance attributes, said Donald Pepper, co-chief executive of Trium Capital LLP.
Photo by Austin Distel on Unsplash
Polygon Raises $450M From Sequoia Capital India, Galaxy, SoftBank to Support Web 3 Plans (Coin Desk)
Polygon, a secondary scaling solution for the Ethereum blockchain, raised $450 million in a round of funding led by Sequoia Capital India to support the firm’s Web 3 plans. The round included funding from 40 venture capital firms, including SoftBank, Michael Novogratz’s Galaxy Digital, Tiger Global, Republic Capital and hedge fund manager Alan Howard as well as Kevin O’Leary of ABC’s “Shark Tank.”
The Future of Land (Preqin)
Biodiversification, sustainability, and tech will shape excellent prospects in land-based natural resources strategies. How would you describe the economic prospects for the natural resources industry? In short, incredibly good. By 2050, we have to increase calorie production by 56% to feed a growing global population, and timber production needs to increase by up to 200%. And those figures are based on the assumption that we reduce food waste, eat less meat, and so on – so we have a massive task ahead of us.
