Former GoldenTree Partner De Chillaz to Launch Credit Hedge Fund (Bloomberg)
Pierre de Chillaz, a former partner at GoldenTree Asset Management, is preparing to start his own hedge fund, joining a growing list of startups as investors return to the industry. The money manager, who is setting up Eicos Investment Group in London, met with investors this week to raise capital, according to an investor document seen by Bloomberg. The long-biased fund will bet on European credit markets and start trading in the first quarter of next year. It’s not clear how much Eicos will raise at this stage.
Third Point Boosts SentinelOne Stake (Institutional Investor)
The cybersecurity company is now the hedge fund’s largest common stock long position. Third Point continues to add to its position in one of its top performers and one of its most successful private investments.The multistrategy hedge fund firm headed by Dan Loeb disclosed in a new regulatory filing that on July 14, it acquired 29,289 Class A shares of cybersecurity company SentinelOne….
Crypto Funds Trade in Coins That Are Under SEC Scrutiny (The Wall Street Journal)
WASHINGTON — Asset managers are offering funds that invest in cryptocurrencies whose legal viability has been questioned by regulators, underscoring the risks investors are taking to try to benefit from the sector’s rapid growth. Grayscale Investments, which calls itself the world’s largest digital-currency asset manager, launched a fund two months ago that invests in tokens tied to crypto-trading platforms including Uniswap and SushiSwap. Wealthier U.S. investors are eligible to buy the Grayscale Decentralized Finance (DeFi) Fund’s shares, which don’t freely trade now but could in the future, according to the company.
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Institutional Investors Stay Cautious on Crypto, as Hedge Funds Ride Bitcoin Volatility (Hedge Week)
As hedge funds continue to ride out cryptocurrencies’ volatility, new industry research suggests larger institutional investors remain reluctant to pile into digital assets in any meaningful sense, despite the strong returns generated by managers this year. Alternatives-focused software-as-a-service and data management firm Vidrio Financial surveyed global allocators and LPs – collectively representing more than USD100 billion in alternatives assets under management in the US and Europe – on their crypto investment plans.
HITE Hedge Fund Bets Oil Just Saw ‘Biggest Dead-Cat Bounce’ (Bloomberg)
When it comes to being skeptical about oil stocks, few are more bearish than James Jampel. Jampel manages HITE Carbon Offset, a $187 million hedge fund with short-selling fossil-fuel assets as its central focus. The fund returned almost 30% last year when the the S&P 500 Energy Index, which includes Exxon Mobil Corp., Chevron Corp. and ConocoPhillips, dropped 35%. This year, the fund was down about 9% at the end of July, compared with the energy index’s 33% increase in the same period.
Why Fisher Investments Says Asset Allocation Doesn’t Equal Diversification (Reuters)
What constitutes a diversified portfolio? The general answer probably seems obvious: Diversified portfolios contain enough different securities to avoid the risk of troubles in one area of the market or a single security setting you far back from your investment goals. But this can mean different things to different people. One claim Fisher Investments often encounters: A truly diversified portfolio blends stocks, bonds, gold, other commodities, cash, real estate and maybe some cryptocurrency, so that if one asset class stumbles others might pick up the slack or cushion the damage. In our view, this makes a fundamental mistake: confusing diversification with asset allocation.
The Shareholder of Mountain Province Diamonds (Other OTC: MPVDF) is Buying Shares (Analyst Ratings)
Today, the Shareholder of Mountain Province Diamonds (MPVDF), Dermot Fachtna Desmond, bought shares of MPVDF for $880K. This recent transaction increases Dermot Fachtna Desmond’s holding in the company by 2% to a total of $39.25 million. Based on Mountain Province Diamonds’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $75.15 million and quarterly net profit of $22.47 million.
Friday 9/24 Insider Buying Report: COMS, ALPN (Nasdaq.com)
At ComSovereign Holding Corp (COMS), a filing with the SEC revealed that on Tuesday, Chief Technology Officer Dustin H. McIntire bought 60,000 shares of COMS, at a cost of $1.72 each, for a total investment of $102,939. McIntire was up about 10.2% on the buy at the high point of today’s trading session, with COMS trading as high as $1.89 at last check today. ComSovereign Holding Corp is trading off about 1% on the day Friday. This buy marks the first one filed by McIntire in the past twelve months. And also on Tuesday, Director Robert E. Conway bought $97,966 worth of Alpine Immune Sciences (ALPN), buying 10,000 shares at a cost of $9.80 a piece. Alpine Immune Sciences is trading up about 1.8% on the day Friday. So far Conway is in the green, up about 12.1% on their buy based on today’s trading high of $10.98.
Notable Palantir Technologies Insider Trades $7.92 Million In Company Stock (Benzinga)
Andrew Stephen Cohen, Corporate Officer at Palantir Technologies (NYSE:PLTR), made a large buy and sell of company shares on September 23, according to a new SEC filing. What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission states that Andrew Stephen Cohen exercised options to purchase 281,820 Palantir Technologies shares for $0 on September 23. They then sold their shares on multiple transactions in the open market. They sold at prices ranging from $27.02 to $29.08 to raise a total of $7,924,743 from the stock sale.
Cloudflare Inc (NET) President and COO Michelle Zatlyn Sold $8.8 million of Shares (Guru Focus)
President and COO of Cloudflare Inc, Michelle Zatlyn, sold 66,660 shares of NET on 09/22/2021 at an average price of $132.65 a share. The total sale was $8.8 million.
