Billionaire Hedge-Funder Larry Robbins Asks $55 Million for New York Penthouse (MansionGlobal.com)
Billionaire hedge-fund manager Larry Robbins has listed his penthouse apartment on New York’s Upper East Side for $55 million. The roughly 12,000-square-foot unit is located at The Charles condominium on First Avenue. Mr. Robbins’s purchase of the condo for nearly $38 million in 2015 made headlines, in part because the building is situated east of Third Avenue, where prices have traditionally been lower than those closer to Central Park. If it sold for close to its current asking price, the unit would again help establish a new pricing benchmark for the area, records show.
Cathie Wood’s ARKK Lures Biggest Inflow Since 2021 Glory Days (Bloomberg)
Cathie Wood has received the biggest vote of investor confidence since her flagship strategy was near the peak of its popularity in the cheap-money era. The ARK Innovation ETF (ticker ARKK) attracted $397 million of inflows on Friday, according to overnight data compiled by Bloomberg. That was the largest influx since April 2021 — a few weeks after the fund hit its all-time high in a year that saw investors pour in a whopping $9.6 billion in total.
The Greatest Hedge Fund Manager of All Time Says to Get Your Kids This to Get Them Started Investing (Benzinga)
Ray Dalio, the legendary hedge fund manager, has shared that he gives his kids and grandkids gold coins as gifts to start them on their investment journey. Dalio founded Bridgewater Associates, the largest hedge fund in the world by a mile. According to Dalio, this lustrous metal is the best way to get kids excited about investing. He gives his grandkids a gold coin every holiday and birthday celebration.
Photo by Austin Distel on Unsplash
SVB Collapse: ‘Big Short’ Burry Big Has Good News About the Crisis (The Street)
The legendary investor and hedge fund manager believes the current crisis of confidence around banks is not a “true danger.” The collapse of Silicon Valley Bank, a major player in the startup and small business economy, has rattled business communities and global markets. The second largest failure of a bank in American history, awakened the ghosts of the financial crisis of 2008. The 2008 crisis had devastated the world economy and brought the global financial system almost to its knees. When U.S. regulators shut down SVB on Mar. 10, a shock wave thus hit the markets, some wondering if the Californian bank was the Lehman Brothers of today.
Citadel Discloses 5% Stake in Western Alliance Amid Sell-Off (Reuters)
Hedge fund Citadel on Tuesday said it bought a 5.3% stake in Western Alliance Bancorporation (WAL.N), sending a strong signal of confidence as the company was swept up in growing fears of a broader financial crisis after two other banks were seized. Western Alliance’s share price, which had tumbled on Monday, shot higher on Tuesday, rising as much as 43% shortly after the opening of trading. Earlier in the morning, its shares had been briefly halted for trading.
Coeli European Among NBIM’s External Managers (Hedge Nordic)
Stockholm (HedgeNordic) – Norges Bank Investment Management (NBIM) relies on external equity managers to handle 4.6 percent of the €1.2 trillion Norwegian oil fund’s investments. A total of 107 mandates worth €54 billion at the end of 2022 were managed externally by 100 organizations, one of which was Mikael Petersson’s Coeli Group-backed fund management firm Coeli European AB.
Hedge Fund Marshall Wace Names Amit Rajpal as Partner in London Firm (Financial News)
Marshall Wace has named Hong Kong-based portfolio manager Amit Rajpal as a partner in its London firm. Rajpal — currently portfolio manager of the firm’s global financials strategy — started his journey at the London-headquartered hedge fund in 2008 as a portfolio manager. In a career spanning more than 14 years at the firm, he has served…
Hedge Fund Vista Cuts Oil Bet That Made It a Star In Brazil (Bloomberg)
About four years ago, traders operating out of a two-story house in Rio de Janeiro piled into a bet that oil prices would skyrocket on anticipation of a tight market and a slower transition away from fossil fuels. The wager made Vista Capital rapidly surge in the ranks of Brazil’s asset-management industry and turned its flagship fund into the nation’s best-performing hedge fund in the past three years.
$22M Bet On This Basic Materials Stock? Check Out These 3 Stocks Insiders Are Buying (Benzinga)
Tecnoglass: The Trade: Tecnoglass Inc. (TGLS) 10% owner Energy Holding Corp acquired a total of 519,412 shares an average price of $42.26. To acquire these shares, it cost around $21.95 million. A. O. Smith: The Trade: A. O. Smith Corporation (AOS) Director Michael M Larsen acquired a total of 4,000 shares at an average price of $66.89. To acquire these shares, it cost around $267.54 thousand.
Tuesday 3/14 Insider Buying Report: CFR, SOFI (Nasdaq.com)
On Monday, Cullen/Frost Bankers’ CEO, Phillip D. Green, made a $1.01M purchase of CFR, buying 9,500 shares at a cost of $106.59 a piece. Green was up about 8.4% on the buy at the high point of today’s trading session, with CFR trading as high as $115.50 in trading on Tuesday. Cullen/Frost Bankers is trading up about 10.7% on the day Tuesday. This buy marks the first one filed by Green in the past year. And on Friday, Chief Executive Officer Anthony Noto bought $995,094 worth of SoFi Technologies, buying 180,000 shares at a cost of $5.53 each. Before this latest buy, Noto purchased SOFI at 16 other times during the past twelve months, for a total investment of $10.29M at an average of $4.93 per share. SoFi Technologies is trading up about 3.1% on the day Tuesday. Noto was up about 3.8% on the purchase at the high point of today’s trading session, with SOFI trading as high as $5.74 at last check today.
Coinbase Files Amicus Brief in Insider Trading Case: ‘We Need Rulemaking’ (Coin Desk)
The exchange denies any of the tokens former Coinbase manager Ishan Wahi traded with associates were securities because Coinbase doesn’t list securities – but it would like to if the SEC gave it proper rules and guidance. The digital assets that Coinbase lists are not securities, but Coinbase, if given proper guidance and rules from the Securities and Exchange Commission, would like to list securities, Coinbase said Monday in an amicus brief. But the SEC’s willingness to work with the exchange in a productive fashion has been limited, the brief reads.
