Hedge Fund Manager Dan Niles Explains Why He’s Betting Against Reopening Stocks (CNBC)
AlphaOne Capital Partners founding partner Dan Niles said Tuesday that he has been building short positions over the past couple of weeks in some of the stocks most exposed to the impact of the pandemic. Niles said on CNBC’s “Squawk Box” that he foresees a second wave of the coronavirus leading to extended shutdowns of segments of the economy and is betting against reopening stocks.
Eileen Murray Is Named to Lead Finra, Wall Street’s Self-Regulatory Arm (The Wall Street Journal)
Former co-CEO of Bridgewater, the world’s largest hedge fund, is to start her new job in August. Eileen Murray, the former co-chief executive of the world’s largest hedge fund, will take over as chairperson of Finra, Wall Street’s self-regulatory arm. Ms. Murray, 62 years old, was one of the investment industry’s highest-ranking female executives as co-CEO of Bridgewater Associates LP. In December, Bridgewater said Ms. Murray would step down as co-chief executive in March. She had shared the top job at Bridgewater with David McCormick since 2017.
Preqin Markets in Focus: Private Equity & Venture Capital in Southeast Asia’s Digital Evolution (Preqin.com)
Southeast Asia is one of the fastest-growing and most dynamic markets in the world. On the back of a bumper 2019 for the ASEAN private equity & venture capital industry, the global economic fallout from COVID-19 has had a significant impact on the market. Nonetheless, industry assets under management stand at a record high, and the investor pool is increasingly diverse and globalized. Amid challenging circumstances, PEVC players in the region are expanding their resources to meet a growing need for capital and tap unique, emerging opportunities.
Wary Hedge Fund Managers Aren’t Buying Rally in India Stocks (Bloomberg)
Hedge fund managers in India are joining global peers in preparing for another rout in equities, as the rally in local stocks overlooks the pandemic and a dim economic outlook. The cautious stance has cost some professional investors so far as the S&P BSE Sensex index has rebounded 35% from a March low, helped by a flurry of stimulus measures from the Indian government and its central bank. But the jury is still out with the International Monetary Fund cutting India’s economic growth outlook for the year to March by the most among all major economies.
Breakingviews – Corona Capital: Hedge Funds, French Privatisation (Reuters)
NEW YORK/LONDON/HONG KONG (Reuters Breakingviews) – Corona Capital is a daily column updated throughout the day by Breakingviews columnists around the world with short, sharp pandemic-related insights. HEDGE FUND CONTAGION. Even would-be masters of the universe are not immune to the coronavirus. A mere 84 hedge funds launched in the first quarter of 2020, according to Hedge Fund Research data, the lowest number since 2008. Fund liquidations topped 300 in the period, a level seen just once since the financial crisis.
Hedge Fund Liquidations Outpace Launches in 2020, as Fees Fall to Record Lows (Hedge Week)
New hedge fund launches have slumped to lows not seen since the 2008 global financial crisis, while liquidations hit their highest level since the end of 2015, according to new analysis from Hedge Fund Research. HFR’s ‘Market Microstructure Report’ for the first quarter of 2020 also reveals that management fees and incentive fees have dropped to their lowest amount since HFR began compiling such data, reflecting the rapidly shifting balance between hedge fund managers and investors. As hedge fund firms grappled with the impact of the coronavirus pandemic which upended global markets earlier in the year, sending volatility soaring and heightening investor aversion, the numbers show that Q1 2020 was the seventh consecutive quarter in which liquidations outnumbered launches.
Tuesday 6/30 Insider Buying Report: PSX, RHP (Nasdaq.com)
On Friday, Phillips 66 (PSX)’s Director, John E. Lowe, made a $102,645 purchase of PSX, buying 1,500 shares at a cost of $68.43 each. Phillips 66 is trading up about 2.3% on the day Tuesday. Before this latest buy, Lowe purchased PSX at 2 other times during the past year, for a total cost of $448,320 at an average of $74.72 per share. And at Ryman Hospitality Properties (RHP), there was insider buying on Friday, by CFO Mark Fioravanti who bought 3,000 shares at a cost of $31.90 each, for a total investment of $95,702. Before this latest buy, Fioravanti made one other purchase in the past year, buying $231,237 shares at a cost of $15.42 a piece. Ryman Hospitality Properties is trading up about 2.1% on the day Tuesday. So far Fioravanti is in the green, up about 10.3% on their purchase based on today’s trading high of $35.18.
A Director at Urban One (NASDAQ: UONE) is Selling Shares (Analyst Ratings)
Today, a Director at Urban One (UONE), Geoffrey Armstrong, sold shares of UONE for $204.8K. Following Geoffrey Armstrong’s last UONE Sell transaction on September 17, 2009, the stock climbed by 19.8%. In addition to Geoffrey Armstrong, 5 other UONE executives reported Sell trades in the last month.
Chico’s Fas Inc (CHS) CEO and President Bonnie R. Brooks Bought $100,329 of Shares (Guru Focus)
CEO and President of Chico’s Fas Inc., Bonnie R. Brooks, bought 77,176 shares of CHS on 06/26/2020 at an average price of $1.3 a share. The total cost of this purchase was $100,329. Chico’s FAS Inc is an apparel retailer of women’s private branded clothing and accessories through products through retail stores, catalog and via Internet.