Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Hedge Fund and Insider Trading News: Elliott Management, Third Point LLC, Viking Global Investors, Waitr Holdings Inc (WTRH), Cincinnati Bell Inc. (CBB), and More

Elliott-Funded Avocet Mining Goes into Administration (Reuters)
(Reuters) – Gold miner Avocet Mining Plc on Wednesday appointed Paul Williams and Geoffrey Bouchier from Duff & Phelps Ltd as joint administrators, as it started its insolvency process. The appointments, effective Aug. 21, come a few months after the struggling gold miner said its board proposed voluntary liquidation of the company as it faced mounting debt. Last week, the West Africa-focussed miner said it would pursue a formal insolvency process by appointing administrators to the company, but also remained open to exploring “viable funded investment opportunities”. However, no investment proposals were received, said the miner, which has been relying on loans from hedge fund Elliott Management Corp.

Third Point Names Former BH Macro Chair Huw Evans As Non-Executive (Morningstar.co.uk)
(Alliance News) – Hedge fund Third Point Offshore Investors Ltd said on Wednesday that it has appointed Huw Evans as a non-executive director effective immediately. Evans was chair of investment company BH Macro Ltd until June and is also a non-executive director at London-listed firms Standard Life Investments Property Income Trust Ltd and VinaCapital Vietnam Opportunity Fund Ltd. Third Point said he has also been a non-executive director at a number of companies in Guernsey, where Third the company is based. Shares in Third Point closed 0.3% higher at USD14.75 in London on Wednesday.

A Viking Global Hedge Fund is Growing its Private Investing Team After Pumping $107 million into Software Unicorn Druva Technologies (Business Insider)
Count Druva Technologies as one company that’s benefiting from hedge funds’ push into the private markets. The 10-year-old cloud company reached unicorn status in June after a $130 million funding round led by O. Andreas Halvorsen‘s Viking Global Investors. The firm’s Global Opportunities Fund accounted for $107 million of that round, according to an investor letter sent by Halvorsen on July 16. The $30 billion Viking said it believes that Druva, which has locations in six different countries, is positioned to grow quickly.

Seth Klarman’s 3-Step Approach to Valuation (Guru Focus)
Seth Klarman is widely considered to be one of the best value investors alive today. He has achieved annualized returns of around 20% per annum for investors at his hedge fund Baupost since inception by concentrating on finding undervalued securities, wherever in the world they may be hidden. The value investor approaches evaluation using three different methods. Rather than relying on one single valuation metric or process, such as the discount cash flow analysis, he uses a three-pronged approach. Specifically, when approaching valuation, Klarman calculates a company’s: Net present value. Liquidation value. Sum-of-the-parts stock analysis.

Eurekahedge Hedge Fund Index up 0.62% in July, 6.48% YTD (Opalesque.com)
Opalesque Industry Update – The Eurekahedge Hedge Fund Index was up 0.62% in July, bringing its year-to-date return to 6.48%. Roughly 30.8% of hedge fund managers in the index have recorded double-digit gains over the first seven months of the year. The global hedge fund industry AUM remained mostly flat as of July 2019 year-to-date. Final Q2 2019 net outflows figure stood at US$40.0 billion, as investor redemptions continued to slow down. Hedge fund managers recorded US$46.4 billion and US$94.7 billion of net outflows in Q1 2019 and Q4 2018 respectively. The Eurekahedge North American Hedge Fund Index was up 6.90% year-to-date, as fund managers focusing on the region benefited from the equity market rally throughout the first seven months of the year.

When Going Gets Tough, Hedge Fund Traders Get Better, Study Says (Bloomberg)
Sometimes it takes a crisis to bring out your best. True in politics and marriage, and also, according to a new study, in active fund management. University of Manchester researchers Xinyu Cui and Olga Kolokolova found that during times of outflows, highly paid traders exhibit above-average stock-picking skills. Their paper is called “Do Hedge Fund Managers Work Harder Under Pressure?”

Hedge Funds are Dumping Tech Stocks for Health Care (CNBC)
With the U.S.-China trade war showing no resolution in sight, hedge funds are steering away from battered tech and semiconductor stocks, while bottom-fishing in health care names, according to Goldman Sachs. The fast money continued their rotation from tech to health care, according to Goldman’s latest research looking at 835 hedge funds with $2.1 trillion equity positions. Health care has become the biggest sector exposure for hedge funds at 18% by the end of the second quarter, based on their latest regulatory filings, Goldman said.

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading...