The Hedge-Fund Superstar Jason Karp Shuttered His $4 Billion Firm to Build a Health Food Empire He’s Modeling After Berkshire Hathaway. And He’s Using the Same Data-Driven Approach that Made Him an Investing Genius. (Business Insider)
On a spring day in 2018, Jason Karp paid a visit to Kern Valley State Prison, a maximum-security facility in California’s Central Valley. Karp was the founder of Tourbillon Capital Partners, an award-winning hedge fund that managed more than $4 billion. Traveling with a few others from the business world to Kern Valley as part of a volunteer program, he met with inmates, counseling them on entrepreneurship and offering advice on how to make the most of their lives behind bars.
Greenlight Beat the Market in May (Institutional Investor)
The hedge fund headed by David Einhorn is solidly in the black for now. Greenlight Capital is on a small roll. The value-driven hedge fund firm headed by David Einhorn posted another 2.5 percent gain in May and is now up a respectable 5 percent for the year.In fact, last month it beat the major indices, with the S&P 500 up 0.55 percent and the…
AMC Stock Surges as it Raises $230 Million, Pledges to ‘Go On Offense’ (New York Post)
It pays to be popular on Reddit. AMC Entertainment announced Tuesday it will raise $230.5 million by selling 8.5 million shares to hedge fund Mudrick Capital, saying it plans to use the cash to “go on offense” by pursuing opportunistic acquisitions across the virus-ravaged movie-theater sector. The deal with Mudrick values AMC stock at $27.12 a share, valuing the company at upwards of $13 billion – a remarkable number for a stock that had dropped to $4 six months ago as its business was on the brink of bankruptcy amid nationwide COVID-19 lockdowns.
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Hedge Fund Hiring More Non-Graduates into Data Science Jobs (eFinancialCareers.com)
Aspect Capital, the quant hedge fund that hires students who haven’t been to university into apprenticeship roles, is expanding its apprenticeship programme to take on more trainee data scientists. Aspect currently has nine apprentices, hired in previous years to work in roles across legal, data and trading support. It plans to increase their number in future (although it isn’t saying by how much), and will recruit more of them onto a degree-level apprenticeship in data science and analytics named the ‘Advanced Data Fellowship’ program, run in combination with training provider Multiverse.
Goldman Sachs Backs Single-Family Rental Fund for Small Investors (The Wall Street Journal)
A startup that wants to open up the single-family home rental market to small investors is ramping up its home purchases, after winning the backing of Goldman Sachs Group Inc. Real-estate firm Fundrise manages a fund that enables customers to invest as little as $500 in homes going up in fast-growing cities such as Charlotte, N.C., Tampa, Fla., and San Antonio. With the dearth of homes for sale throughout the U.S. pushing up housing prices, single-family rentals have become an increasingly popular alternative to buying in desirable neighborhoods.
Private Equity and Hedge Fund Investors Increasingly Focusing on Outcomes as ESG Integration Deepens (PrivateEquityWire.co.uk)
A new report from LGT Capital Partners (LGT CP) shows that alternative investors are increasingly focusing on ESG outcomes in order to address key issues including climate change and diversity & inclusion (D&I). The ninth annual ESG Report from LGT Capital Partners analyses the activities of 344 managers globally (including 267 private equity managers) and assesses the improvements made in ESG practices. The ESG Report also details a new framework employed by LGT CP to assess the physical and transition risks of its private debt portfolios. In addition, LGT CP shows how it is aligning the carbon footprints of its hedge fund and other liquid portfolios to the requirements of the Paris Agreement.
Teneo Capital Management Sees Longterm Opportunities for Cannabis Stocks in the US (Opalesque)
Cannabis companies have boomed in recent years as legalization efforts at the state level in the US move forward. New York and New Jersey are the most recent states to approve recreational cannabis, while still others have it in their legislative pipelines. Federal approval for cannabis is ultimately the goal, but it remains unclear when or if supporters will be able to make it happen. In the meantime, a number of Canadian cannabis companies are setting up outposts in states where it is legal – creating new opportunities for investors.
Significant Upside Potential for Private Markets (Preqin)
The forces driving success in private markets are aligned in The Lucky Country. Alexandre Schmitz, Managing Partner and Head of APAC at Capstone Partners, explains how stability, sophistication, and growth have created a unique opportunity. Australia has enjoyed 29 years of sustained macroeconomic growth, with GDP expanding at a CAGR of 3.2% between 1990 and 2019. Growth has surpassed all other developed economies, owing mostly to its proximity to the powerhouses of China and Southeast Asia.
Tuesday 6/1 Insider Buying Report: PAY, OVLY (Nasdaq.com)
At Paymentus Holdings, a filing with the SEC revealed that on Friday, Director William Ingram purchased 47,619 shares of PAY, for a cost of $21.00 each, for a total investment of $999,999. So far Ingram is in the green, up about 50.0% on their purchase based on today’s trading high of $31.49. Paymentus Holdings is trading up about 2.2% on the day Tuesday. This purchase marks the first one filed by Ingram in the past year. And also on Friday, Director Janet S. Pelton purchased $94,842 worth of Oak Valley Bancorp, purchasing 5,000 shares at a cost of $18.97 each. This buy marks the first one filed by Pelton in the past twelve months. Oak Valley Bancorp is trading up about 3.6% on the day Tuesday. Pelton was up about 3.4% on the buy at the high point of today’s trading session, with OVLY trading as high as $19.61 in trading on Tuesday.
SEBI Finds Insider Trading In Infosys’ Shares (Bloomberg Quint)
The market regulator has found two employees of Infosys Ltd. guilty of violating its insider trading regulations. It has passed interim directions against Venkata Subramaniam, senior principal, corporate accounting group; and Pranshu Bhutra, senior corporate counsel at the company. Along with these two, six other entities have been barred from capital markets and given 21 days to file objections against the order. The six entities have allegedly made illegal gains of Rs 3.06 crore on the basis of information communicated by Subramaniam and Bhutra, according to Securities and Exchange Board of India.
The Non-Executive of Cresco Labs (Other OTC: CRLBF) is Buying Shares (Analyst Ratings)
Today, the Non-Executive of Cresco Labs (CRLBF), Gerald Francis Corcoran, bought shares of CRLBF for $224.8K. Following this transaction Gerald Francis Corcoran’s holding in the company was increased by 148% to a total of $379.8K. Following Gerald Francis Corcoran’s last CRLBF Buy transaction on November 27, 2020, the stock climbed by 2.0%. Based on Cresco Labs’ latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $171 million and GAAP net loss of -$48,180,000.
