Central Park Penthouse Sets Record at Nearly $240 Million (The New York Times)
There were other pricey closings in Manhattan’s new luxury skyscrapers in January, but all were dwarfed by the hedge fund manager Kenneth Griffin’s deal. The country’s most expensive home sale is now officially in the record books. Kenneth Griffin’s much-anticipated penthouse purchase at 220 Central Park South in Midtown Manhattan was recorded Jan. 25 with the New York City Registrar — just two days after representatives for the hedge fund manager and Vornado Realty Trust, the developer, signed the closing documents.
Willis Towers Watson Calls for Change in Hedge Fund Industry (HedgeWeek)
Investors must change their approach to hedge funds amid structural headwinds facing the industry, according to a new research paper by Willis Towers Watson. In its paper, ‘The New Way’, Willis Towers Watson argues that the competitive advantage delivered by hedge funds is being eroded by structural, rather than just macroeconomic, constraints; principally the industry’s focus on “enterprise risk” rather than investment risk.
Friday 2/1 Insider Buying Report: ORIT, SONA (Nasdaq.com)
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy – they expect to make money. So let’s look at two noteworthy recent insider buys. At Oritani Financial Corp (ORIT), a filing with the SEC revealed that on Wednesday, Director Judith Schumacher-Tilton purchased 10,000 shares of ORIT, at a cost of $17.00 each, for a total investment of $170,003. Oritani Financial Corp is trading up about 1.2% on the day Friday. Before this latest buy, Schumacher-Tilton bought ORIT on 2 other occasions during the past twelve months, for a total investment of $119,571 at an average of $14.95 per share.
Discover Financial CEO Is Buying Up Stock (Barron’s)
Discover Financial Services (ticker: DFS) President and CEO Roger C. Hochschild opened up his wallet on Monday and bought $2 million of the company’s stock on the open market. Hochschild bought 30,000 shares at an average per-share price of $66.67, he disclosed in a form he filed to the Securities and Exchange Commission. He made the purchase a few days after Discover reported fourth-quarter earnings that missed expectations. The CEO now owns 834,799 shares in his personal account and another 29,111 shares through a trust…
Daily Insider Ratings Roundup 1/30/19 (SeekingAlpha)
Tables of the top insider purchases and sales filed with the SEC on 1/30/19, based on dollar value. Dollar values often do not equate with significance when it comes to insider trades. Proprietary Insider Company Ratings are relayed to clarify significance. This idea was discussed in more depth with members of my private investing community, Daily Insider Ratings.
