Third Point’s Loeb Slams Activists After UK Fund Chairman Quits (Reuters)
LONDON, Dec 23 (Reuters) – Hedge fund Third Point‘s boss Dan Loeb on Thursday blamed the departure of the chairman of the firm’s London-listed fund on “inexperienced” and “juvenile antics” of activist investors.
Odey Asset Management Fund Manager Snags £15m Annual Payout (CityA.M.)
A hedge fund manager at Odey Asset Management has snagged the biggest annual payout this year – reportedly beating its prominent founder. James Hanbury, who manages the firm’s largest fund the Odey Absolute Return, took home an eyewatering £15.6m, according to account filings. The hefty payout follows the asset manager enjoying a profit jump of more than £30m – soaring to £39.7m in the 12 months the April 5 from £8.3m a year prior, the Times first reported.
How Tiger Global, SoftBank Vision Fund And Insight Partners Changed The Venture Landscape In 2021 (Crunchbase)
Tiger Global Management, SoftBank Vision Fund and Insight Partners aren’t traditional venture capital investors, but the three growth equity firms invested in startups at an unprecedented rate in 2021, competing directly with many of Silicon Valley’s biggest names and racking up a huge number of portfolio companies in the process. The three firms have invested rapidly in startups this year, even compared to accelerators – let alone venture firms – Crunchbase data shows.
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Bridgewater: Beware The Popping Of These Bubbles As Liquidity Runs Out (Forbes)
For some, it seems obvious that one or more “bubbles” are affecting the market, but there may be more bubbles right now than most investors realize. Ray Dalio‘s Bridgewater sees bubbles in several areas, including emerging technology stocks, special purpose acquisition companies (SPACs), cryptocurrencies, collectibles, non-fungible tokens (NFTs) and more.
Here Are the Hedge Fund Surprises From 2021 (Institutional Investor)
November was brutal on almost all hedge fund styles, with managed futures and equity sector funds leading the way. Investors can blame new Covid-19 variants and inflation fears for the worst month for hedge funds since March 2020. PivotalPath’s composite index lost 1.7 percent for the month, while the research and data firm’s managed futures index was down more than 2 percent in November. PivotalPath tracks 2,400 institutional hedge funds, representing $2.4 trillion in assets.
Loyola Capital Management – Best Equity Hedge Fund (up to USD500m) (Hedge Week)
Loyola Capital Management was named Best Equity Hedge Fund (up to USD500m) at the Hedgeweek Americas Awards 2021 as a result of its outstanding performance over the past 12 months. Loyola Capital Partners LP was up 298.3 per cent between 30 September 2020 and 30 September 2021, versus a gain of 71.6 per cent for the S&P 500. The portfolio is managed with significant concentration (four to ten holdings) and use of leverage as high as 2x equity. Its performance was largely due to remaining fully invested in the face of a major recession and subsequent bear market. While the portfolio suffered a significant decline between 30 September 2019 and 31 March 2020 (the S&P 500 was down 34 per cent over the same period), Loyola Capital Management remained invested, and even increased leverage to a maximum level at the bottom of the bear market.
Ackman SPAC Investors Defend It Against Fellow Shareholder’s Claims (Bloomberg)
Investors in Bill Ackman’s Pershing Square Tontine Holdings Ltd. — some recruited through a Reddit forum — rallied to defend the world’s largest special purpose acquisition company against claims by fellow shareholder George Assad that it was operating illegally. A group of 62 investors holding almost 1.3 million shares filed court papers last week in support of the SPAC’s bid to dismiss a lawsuit by Assad, who sued in August after the company abandoned plans for a deal with Universal Music Group. Assad alleged that Pershing Square Tontine isn’t a SPAC and that it should be regulated under the Investment Company Act of 1940, which would require registration with the U.S. Securities and Exchange Commission.
Hedge Fund TCI Seeks Delay in Canadian National CEO Search (Reuters)
Dec 23 (Reuters) – TCI Fund Management said on Thursday Canadian National Railway’s search for a new chief executive officer should be delayed until shareholders at the nation’s top rail operator vote for a new search committee to elect a CEO. The announcement comes days after CN said TCI’s pick and former Union Pacific executive Jim Vena had pulled out of the running for the CEO’s role.
Thursday 12/23 Insider Buying Report: CHWY, UEPS (Nasdaq.com)
At Chewy, a filing with the SEC revealed that on Tuesday, Director James A. Star bought 32,278 shares of CHWY, for a cost of $55.58 each, for a total investment of $1.79M. Star was up about 6.1% on the buy at the high point of today’s trading session, with CHWY trading as high as $58.95 at last check today. Chewy is trading up about 5.7% on the day Thursday. And on Monday, Antony C. Ball bought $1.29M worth of Net 1 UEPS Technologies, buying 258,830 shares at a cost of $4.99 each. Before this latest buy, Ball bought UEPS at 2 other times during the past twelve months, for a total cost of $330,952 at an average of $4.60 per share. Net 1 UEPS Technologies is trading off about 1.1% on the day Thursday. Ball was up about 11.9% on the buy at the high point of today’s trading session, with UEPS trading as high as $5.58 at last check today.
The Supervisory of CA Immobilien Anlagen AG (Other OTC: CAIAF) is Buying Shares (Analyst Ratings)
Yesterday, the Supervisory of CA Immobilien Anlagen AG (CAIAF), Laura Mestel Rubin, bought shares of CAIAF for $1.31M. Over the last month, Laura Mestel Rubin has reported another 4 Buy trades on CAIAF for a total of $15.18M. The company has a one-year high of $44.25 and a one-year low of $35.17. CAIAF’s market cap is $3.79 billion and the company has a P/E ratio of 9.44.
Asana Inc (ASAN) President, CEO, & Chair Dustin A. Moskovitz Bought $97.2 million of Shares (Guru Focus)
President, CEO, & Chair of Asana Inc, Dustin A. Moskovitz, bought 1,250,000 shares of ASAN on 12/22/2021 at an average price of $77.74 a share. The total cost of this purchase was $97.2 million.
