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Hedge Fund and Insider Trading News: Daniel Loeb, Bill Ackman, Crispin Odey, Warren Buffett, Steve Cohen, LeMaitre Vascular Inc (LMAT), and More

Hedge Fund Manager Dan Loeb Made a Number of Moves Last Quarter – Here are the Highlights (CNBC)
Longtime hedge fund manager and activist investor Daniel Loeb, manager of Third Point, continued to bet on e-commerce companies in the second quarter, as well as a few retailers and Facebook. Third Point released its positions from the end of the second quarter, showing a fund with about $7.3 billion in equity positions.

Source: Confidence Remains that Steve Cohen will Buy Mets Despite J-Rod Reports (MSN)
It might be best to pump the brakes on crowning Alex Rodriguez and Jennifer Lopez as ‘clear-cut favorites’ to buy the New York Mets with final bids due by Aug 31. A source with close knowledge of the situation told amNewYork Metro on Monday morning that there is still robust confidence that Steve Cohen will come away with majority ownership of the team, pending MLB approval. USA Today’s Bob Nightengale reported on Sunday that MLB executives believe the A-Rod and J-Lo group are the favorites after they brought on Florida Panthers (NHL) owner Vincent Viola and Vitamin Water co-founder Mike Repole.

Warren Buffett Dumps U.S. Bank Stocks And Buys Gold Mining Stock; 13F Filing Shows Tech Exodus Among Hedge Funds (Forbes)
On August 14th, we had a 13F filing update in the U.S., which gives more insight about the smart money and how it is deploying its capital. Investors are always keen to know and relate this information to their trading strategy. For retail traders, this information can be seen as confirmation of whether their investment strategy is correct and how they can fine-tune it. Buffett Buys Barrick Gold: The most significant headline of the 13F filing was about Berkshire Hathaway’s BRK.B -1.4% activity. It has purchased stock in Barrick Gold, a Canada-based mining company. Its position in Barrick Gold is worth nearly $565 million.

insider trading insider buys

Chad McDermott / Shutterstock.com

Hedge Fund Finds Two Ways To Lose Money On Tesla (Deal Breaker)
Like some of his peers, Jacob Ma-Weaver still believes that Tesla will eventually be subject to the same facts, logic and market forces as other listed enterprises. As such, the Cable Car Capital chief is shorting its shares. This has not gone well. Tesla’s stock jumped as much as 6% in after-hours trading Tuesday after the company announced a five-for-one stock split, set to go into effect on August 31…. Tesla’s stock is on a roll this year, despite challenges presented by the coronavirus pandemic. Shares have risen more than 200% since January to $1,374, and its market capitalization has surpassed the likes of Disney, Toyota and Coca Cola.

Hedge Funds Are Short on Dollar for First Time in Two Years (Bloomberg)
Hedge funds turned bearish on the dollar for the first time since May 2018, an indication that a summer slump in the world’s reserve currency will be prolonged. Net futures and options positions held by leveraged funds against eight other currencies dropped to minus 7,881 contracts last week, according to data aggregated from the Commodity Futures Trading Commission. The swing was driven by growing bullish bets on the euro.

AIMA and Albourne Launch New Initiative to Strengthen Diversity and Inclusion within Hedge Fund Industry (Hedge Week)
The Alternative Investment Management Association has launched a new initiative aimed at improving transparency around diversity and inclusion within the global hedge fund and alternative investment industry. Hedge fund industry trade group AIMA, in partnership with investment consultancy Albourne Partners, has unveiled the voluntary Diversity & Inclusion questionnaire, which looks to gauge how the industry is improving diversity within firms.

Navigating the Secondary Market in Uncertain Times (Preqin.com)
2020 has been a turbulent year so far. How is Portfolio Advisors engaging with the secondary market? Our 2020 game plan is consistent with our historical approach: purchase LP interests in funds managed by GPs we know well from our primary investing program. The relationships we’ve formed over 26 years have always been valuable, and they’re absolutely critical today. We believe sponsors experienced in navigating through market dislocations will be best positioned to drive value through the current crisis. Focusing our secondary investing on groups fully vetted through our primary program – with the advantages of information, access, and certainty of transfer – should enable us to generate better risk-adjusted returns. Now is not a time for exposure to inexperienced managers.