Here’s Why Hedge Fund Manager Dan Niles Likes Facebook as a Reopening Play (CNBC)
Hedge fund manager Dan Niles said he likes Facebook shares as a reopening play and added a streaming alternative to Netflix in his portfolio. While the Satori Fund founder and senior portfolio manager said he’s avoided high-valuation technology stocks, he believes Facebook could gain from increased advertising as Covid restrictions ease.
Federal Prosecutors Have Asked Banks for Information About Archegos Meltdown (The Wall Street Journal)
Federal prosecutors in New York have requested information about Archegos Capital Management from banks across Wall Street, according to people familiar with the matter. Banks that lent to Archegos, including Credit Suisse Group AG, UBS Group AG, Goldman Sachs Group Inc. and Morgan Stanley , have been contacted for information, the people said.
Kevin Ulrich Scored a $2 Billion MGM Win. It Only Took a Decade (Bloomberg)
Hedge funds often measure their investments in minutes, not decades; but for Anchorage Capital Group, its long-held stake in Metro-Goldwyn-Mayer Studios Inc. is proving that patience can also be profitable. The New York-based money manager stands to make roughly $2 billion on its investment in the film and TV producer, one that began almost 11 years ago with MGM in bankruptcy court. Amazon.com Inc. agreed to buy the company for $8.45 billion Wednesday, a price that includes just under $2 billion in debt.
Mike Novogratz Said DeFi could Destroy Banks, Shiba Inu and Doge are Unsustainable, and Crypto Traders should Avoid Leverage in a Recent Interview. Here are the 11 Best Quotes. (Business Insider)
Billionaire crypto investor Mike Novogratz said decentralized finance, or DeFi, could spell serious trouble for banks, that shiba inu coin and dogecoin are unsustainable, and that crypto traders should avoid excessive leverage in an interview with Binance’s podcast on Wednesday. He also revealed that speaking to ethereum entrepreneur Joe Lubin convinced him that crypto would be a revolution, that the 2017 bitcoin rally was a turning point for him, and argued that the crypto community was often too angry.
Q1 2021 Hedge Fund Asset Flows (Preqin)
Hedge fund assets under management passed the $4tn mark as of the end of Q1 2021, with AUM surging to an all-time high of $4,146bn. In this factsheet, we present hedge fund asset flow data for Q1 2021, including breakdowns by strategy, region, past performance, and fund size.
A Good Reputation is Worth Real Money (Hedge Nordic)
Stockholm (HedgeNordic) – The number of activists and the abundance of capital to invest have been increasing, with activist investors becoming a force to reckon with. While some management teams may be wary of shareholder activism, some executives in the Nordics are welcoming one particular activist with open arms. Throughout its 13-year journey, Nordic-focused activist investor Accendo Capital has built an intangible but powerful and hard-to-replicate asset: reputation – a reputation as a collaborative, value-enhancing shareholder.
GWM Unveils ESG Merger Arb Hedge Fund Amid Rising Corporate Activity (Hedge Week)
London-based GWM Asset Management has launched a novel merger arbitrage hedge fund strategy which uses ESG (environmental, social and governance) factors in its investment process. The strategy, which rolled out in early May with USD270 million in assets, has a specific focus on mergers and acquisitions in Europe, applying sustainable investment criteria to its position-building and excluding controversial sectors. Commenting on the launch of the ESG-focused fund, Peter Sartogo, managing partner at GWM said moves towards sustainability within the investment and wealth management communities is now “of crucial importance.”