Hedge Fund DE Shaw Says It’s Still Hiring During the Pandemic (eFinancialCareers.com)
It’s not just Citadel. New York-based hedge fund D. E. Shaw is also continuing to hire staff during the pandemic. It’s understood that the fund has virtually onboarded 22 employees since March 9th. It’s still continuing to recruit people now, conducting interviews by video conference as well as running internships and fellowships (spring internships) remotely. DE Shaw‘s biggest ever intern class (28 people) is arriving on May 26th and will start out in a virtual format, before moving to into DE Shaw’s offices later in the summer if possible. This year’s interns come from 28 universities globally and are drawn from countries as disparate as Singapore and France.
Hedge Fund Sues Target Company For Being Mean To It (Deal Breaker)
Hedge fund activists are known for dishing out, and receiving in turn, some pretty harsh and uncompromising language. You’d have thought Standard General would know this, having worked with and then scorned the inimitable Dov Charney. But, apparently, you can still hurt SG’s feelings, at least legally. New York-based hedge fund Standard General LP sued Tusk Strategies Tuesday in Manhattan federal court, accusing the political consulting firm, of “blanketing the media with false and misleading proxy materials” on behalf of a “secret client….”
Warren Buffett’s Favorite Stock-market Indicator Hits Record High, Signaling a Crash Could be Coming (Business Insider)
Warren Buffett‘s favorite stock-market indicator has climbed to a record high, signaling that stocks are overvalued and that another crash could be coming. The so-called Buffett indicator takes the combined market capitalizations of a country’s publicly traded stocks and divides it by quarterly gross domestic product. Investors use it to gauge whether the stock market is overvalued or undervalued relative to the size of the economy. Buffett, a billionaire investor and the boss of Berkshire Hathaway, described it in a Fortune magazine article in December 2001 as “probably the best single measure of where valuations stand at any given moment.”
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Activist Teleios Recommends Two Independent Board Members to Maisons du Monde (Reuters)
LONDON, April 30 (Reuters) – Activist Teleios Capital Partners said it will be recommending the appointment of two new independent board members to French furniture and home decor retailer Maisons du Monde. The hedge fund firm, which holds a 19.9% stake in the company, said in the statement on Thursday it was proposing to add Thierry Falque-Pierrotin and Laure Hauseaux.
Tesla Pares Advance After Einhorn Questions Billings Again (Bloomberg)
David Einhorn, the president of hedge fund Greenlight Capital, questioned Tesla Inc.’s billing practices again in his latest repartee with the electric-car maker’s chief executive officer, Elon Musk. “I guess the offer of a factory tour was never serious,” Einhorn said in a tweet, referring to an invitation Musk extended last year for the long-time Tesla short seller to visit the company’s plants.
CTA Pioneer Comes Back to the Front (Hedge Nordic)
Stockholm (HedgeNordic) – Most Nordic hedge funds were not spared from the coronavirus-fuelled sell-off that tanked global markets in March. Some funds, however, shone during last month’s market turmoil. The three vehicles managed by Finnish systematic manager Estlander & Partners posted solid performance last month and year-to-date. Estlander & Partners Alpha Trend, the asset manager’s flagship vehicle that employs a pure trend-following strategy, gained 6.2 percent last month and 8.4 percent in the first quarter. This vehicle was the fifth best performing member of the Nordic Hedge Index in the first quarter. This is not the first time Alpha Trend performs well in extreme risk-off environments. The longest-living member of the Nordic Hedge Index gained about 38 percent in 2008.
“Very Negative” Stance Powered Pershing Square Gains – But Ackman Does Not See Protracted Slump (Hedge Week)
Pershing Square CEO Bill Ackman’s “very negative view” and “good sense of timing” powered the firm’s stellar USD2.6 billion gain last month but the high-profile activist hedge fund manager does not fear a protracted 1930s-style depression as a result of the Covid-19 shutdown. Pershing Square Capital generated the remarkable return in March with a USD27 million credit hedge as the impact of the coronavirus pandemic sent global markets into a tailspin. In a podcast interview released this week, Ackman explained how growing concerns over the Covid-19 spread early in the year, and the subsequent economic implications of the US shutdown, formed the basis of his lucrative bet.
Thursday 4/30 Insider Buying Report: DHX, MSBI (Nasdaq.com)
At DHI Group, a filing with the SEC revealed that on Monday, Director Scipio Maximus Carnecchia bought 36,800 shares of DHX, at a cost of $2.69 each, for a total investment of $98,992. Carnecchia was up about 14.9% on the buy at the high point of today’s trading session, with DHX trading as high as $3.09 at last check today. DHI Group Inc is trading off about 4.7% on the day Thursday. Before this latest buy, Carnecchia made one other purchase in the past year, buying $148,798 shares at a cost of $2.71 each. And on Tuesday, John M. Schultz bought $77,557 worth of Midland States Bancorp, buying 5,000 shares at a cost of $15.51 a piece. Midland States Bancorp Inc is trading off about 4.8% on the day Thursday. Schultz was up about 11.7% on the purchase at the high point of today’s trading session, with MSBI trading as high as $17.32 in trading on Thursday.
Ares Management Corp (ARES) Co-Founder, CEO and President Michael J Arougheti Sold $8.1 million of Shares (Guru Focus)
Co-Founder, CEO and President of Ares Management Corp., Michael J Arougheti, sold 227,429 shares of ARES on 04/29/2020 at an average price of $35.74 a share. The total sale was $8.1 million. Ares Management LP is a global alternative asset manager. It offers its investor a range of investment strategies and seeks to deliver attractive performance to a growing investor base. Ares Management Corp has a market cap of $8.69 billion; its shares were traded at around $35.09 with a P/E ratio of 32.78 and P/S ratio of 2.37.
The Corp. VP of Vicor (NASDAQ: VICR) is Selling Shares (Analyst Ratings)
Today, the Corp. VP of Vicor (VICR), Claudio Tuozzolo, sold shares of VICR for $479K. Following Claudio Tuozzolo’s last VICR Sell transaction on December 05, 2019, the stock climbed by 10.9%. The company has a one-year high of $57.87 and a one-year low of $26.50. Currently, Vicor has an average volume of 50.74K. VICR’s market cap is $2.15 billion and the company has a P/E ratio of 264.60.
Grocery Outlet Holding Corp (GO) CEO Eric J. Jr. Lindberg Sold $8.2 million of Shares (Guru Focus)
CEO of Grocery Outlet Holding Corp., Eric J. Jr. Lindberg, sold 250,000 shares of GO on 04/27/2020 at an average price of $32.73 a share. The total sale was $8.2 million. Grocery Outlet Holding Corp has a market cap of $3.11 billion; its shares were traded at around $34.58 with a P/E ratio of 216.14 and P/S ratio of 1.10. GuruFocus has detected 1 severe warning sign with Grocery Outlet Holding Corp.
