Hedge Fund and Insider Trading News: Bill Miller, Michael Burry, Tribeca Investment Partners, NGL Energy Partners LP (NGL), Seagen Inc (SGEN), and More

Carbon Offsets Are Next Big Bet for $3.2 Billion Tribeca Fund (Bloomberg)
One hedge fund in Asia is betting big on the growing interest in carbon offsets to protect forests, as industries and policy makers start to make efforts to cut emissions. Tribeca Investment Partners, which manages $3.2 billion of assets, has bought around $100 million worth of carbon credits, according to portfolio manager and partner Ben Cleary.

7 Overvalued Stocks to Sell to Invest Like Michael Burry (Business Insider)
Immortalized in the film The Big Short, Dr. Michael J. Burry, the famed contrarian investor who currently runs Scion Asset Management, is known to ruffle more than a few feathers on Wall Street. What makes him distinct among other noisemakers is that Burry made a massive bet against the housing boom of the 2000s, instantly earning him respect. He’s now warning folks about a similar setup with certain overvalued stocks.

Goldman Sachs MD Resurfaces at Citadel After Summer Off (eFinancialCareers.com)
It’s September and if you timed your job move well in the Northern Hemisphere, now’s the time you’ll be turning up in your brand new job after a pleasant summer of gardening leave. One of those to have gamed the seasons is Michael Fargher, the former head of European swaps trading at Goldman Sachs. Fargher, who left Goldman in June 2021, has just joined hedge fund Citadel as a portfolio manager in the London office.

Photo by Austin Distel on Unsplash

“Dig deeper”: Why Syz Capital is Looking Beyond Hedge Funds and Private Equity in Hunt for Uncorrelated Returns (Hedge Week)
Investors must look beyond hedge funds and private equity in their quest for uncorrelated returns, according to Marc Syz, co-founder and managing partner at Syz Capital, who believes niche assets – such as litigation finance and life settlements – can offer investors improved portfolio diversification. Syz said the ongoing Covid-19 pandemic has “plunged us into a situation of ongoing uncertainty”, in turn fueling investor demand for uncorrelated assets to help stave off volatility.

Another Strong Quarter For Hedge Funds Is In The Books (Forbes)
Hedge funds had another strong quarter in the second quarter, according to the latest report from Citco. All strategies posted a weighted average return of 6%. Hedge fund performance and flows: Commodities hedge funds were the best performers, with a weighted average return of 8.33%. Global macro was the worst-performing strategy, although even it was up 1.34% for the second quarter.