Odey Vacates Mayfair Headquarters as Hedge Fund Disintegrates (Bloomberg)
Odey Asset Management has vacated its long-time London headquarters as the investment firm enters final stages of a forced revamp in the aftermath of sexual assault allegations against founder Crispin Odey. The firm has moved into a new space on North Row, a short walk from the 18 Upper Brook Street office in London’s Mayfair from where it ran its operations for years, according to a filing by the company Wednesday.
$4.8 Billion Hedge Fund Pantera Predicts Bitcoin at $148,000 by 2025 (Finbold.com)
Pantera Capital, a prominent US hedge fund with a focus on cryptocurrencies, unveiled its new “Blockchain Letter” report. In it, the crypto asset manager notably reaffirmed its optimistic outlook on Bitcoin’s (BTC) price for 2024 and beyond, while also delving into the anticipated effects of the upcoming Bitcoin halving scheduled for April next year.
WorldQuant CEO Tulchinsky: AI Must Work with Human Traders (Financial News)
AI has the potential to disrupt financial services, but humans remain “imperative” to guide the technology, according to WorldQuant founder Igor Tulchinsky. “Humans and machines need to continue to have a symbiotic relationship for AI to be the most impactful,” he told Financial News. “AI is a tool that can drive our progress, but humans must partner with the technology to improve and apply its results.”
Are Hedge Fund Pioneers Facing the End of a Golden Era? (Money Control)
The multi-manager model has generated years of exceptional returns, even after fees. But rising interest rates and an expensive battle for talent are taking their toll. Harriet Agnew in London and Ortenca Aliaj in New York As an undergraduate at Harvard University, Ken Griffin had a satellite dish installed on the roof of his dorm room so he could trade convertible bonds, laying the foundations for the launch of his Citadel hedge fund in 1990. But it wasn’t until the high-profile collapse of hedge fund Long Term Capital Management at the end of that decade that he realised Citadel’s potential, Griffin recalls in an interview.
Thursday 8/24 Insider Buying Report: FTRE, BDSX (Nasdaq.com)
On Wednesday, Fortrea Holdings’s Director, Peter M. Neupert, made a $278,256 purchase of FTRE, buying 11,000 shares at a cost of $25.30 a piece. Neupert was up about 6.5% on the buy at the high point of today’s trading session, with FTRE trading as high as $26.95 in trading on Thursday. Fortrea Holdings is trading up about 4.3% on the day Thursday. This purchase marks the first one filed by Neupert in the past twelve months. And also on Wednesday, Jack W. Schuler purchased $216,510 worth of Biodesix, purchasing 128,363 shares at a cost of $1.69 a piece. Before this latest buy, Schuler purchased BDSX at 7 other times during the past year, for a total investment of $10.27M at an average of $1.15 per share. Biodesix is trading up about 2% on the day Thursday. So far Schuler is in the green, up about 7.3% on their buy based on today’s trading high of $1.81.
Palo Alto Networks, State Street And 2 Other Stocks Insiders Are Selling (Benzinga)
Palo Alto Networks: The Trade: Palo Alto Networks, Inc. (PANW) Director Carl M Eschenbach sold a total of 7,482 shares at an average price of $237.00. The insider received around $1.77 million from selling those shares. State Street: The Trade: State Street Corporation (STT) Vice Chairman and CFO Eric Aboaf sold a total of 11,886 shares at an average price of $67.13. The insider received around $797,952 from selling those shares.
