Michael Burry Deletes Twitter Account Despite Saying Elon Musk has His ‘Trust’ (New York Post)
Famed hedge fund boss Michael Burry appears to have deleted his Twitter account this week, just hours after he praised Elon Musk’s leadership of the revamped social media site. The @michaeljburry Twitter handle displayed a message that read “this account doesn’t exist” as of early Friday afternoon, signaling Burry had either deactivated or deleted the account. Multiple “tracker” accounts dedicated to following Burry’s feed also noted it was taken offline.
Maitri Capital Launches Web3 FCA-Regulated Hedge Funds (Hedge Week)
Maitri Capital, an FCA-regulated hedge fund firm, has launched two Web3 and digital assets market funds, which will look to make investments in a diverse portfolio of asset classes. The first fund will target investments in both locked and unlocked tokens, equity, staking programmes and liquid tokens, while the second fund will focus on backing non-fungible tokens (NFTs), decentralised finance (DeFi), and metaverse projects, as part of a portfolio diversification strategy.
Hedge Fund Giant Man Group Reveals Second $125m Buyback Scheme This Year Amidst Greater Market Volatility (This is Money)
Investment firm Man Group has brushed aside heightened economic uncertainty to announce its second share buyback programme of up to $125 million this year. The world’s largest listed hedge fund manager said the measure was in line with its policy to hand capital to investors ‘while maintaining a prudent balance sheet.’ This latest buyback will run for the next 12 months from today and operate alongside a similarly-sized share repurchase scheme, which is set to conclude in June 2023.
Friday 12/9 Insider Buying Report: BSM, COIN (Nasdaq.com)
On Thursday, Black Stone Minerals’ CEO and Chairman, Thomas L. Carter Jr., made a $838,874 purchase of BSM, buying 48,492 shares at a cost of $17.30 each. Black Stone Minerals LP is trading up about 2.1% on the day Friday. Before this latest buy, Carter Jr. bought BSM on 4 other occasions during the past year, for a total investment of $3.34M at an average of $16.71 per share. And on Tuesday, Director Tobias Lutke purchased $742,514 worth of Coinbase Global, purchasing 16,747 shares at a cost of $44.34 each. Before this latest buy, Lutke purchased COIN on 16 other occasions during the past twelve months, for a total investment of $5.98M at an average of $66.12 per share. Coinbase Global is trading down about 3% on the day Friday. Investors can snag COIN at a price even lower than Lutke did, with the stock trading as low as $40.89 in trading on Friday — that’s 7.8% under Lutke’s purchase price.
Over $3 Million Bet On G-III Apparel? Check Out These 3 Stocks Insiders Are Buying (Benzinga)
G-III Apparel Group: The Trade: G-III Apparel Group, Ltd. (GIII) CEO Morris Goldfarb bought a total of 250,000 shares at an average price of $12.54. To acquire these shares, it cost around $3.13 million. ModivCare: The Trade: ModivCare Inc. (MODV) Director Adam Gray acquired a total of 90,743 shares at an average price of $76.09. To acquire these shares, it cost around $6.9 million.
