Two Sigma Starts Impact-Investing Business Focusing on Workers (Bloomberg)
Two Sigma, the $60 billion quant firm whose co-founder has warned of the threat automation poses to the global workforce, is starting a group to back companies that develop their employees’ potential. The new unit will make private “workforce impact” investments, with a goal to find consumer, business-services, education and health-care companies that “unlock human potential,” Two Sigma said on its website Thursday.
Billionaire Ray Dalio’s Bridgewater Fund Poured Almost Half a Billion Dollars into Gold in Q2 (Business Insider)
Billionaire investor Ray Dalio‘s hedge fund poured more than $400 million into gold in the second quarter of this year, as the price rallied towards record highs, luring in high-profile and amateur investors alike. Bridgewater Associates, which Dalio founded in 1975, increased its investment in gold through the world’s largest largest exchange-traded funds, (ETFs), according to a 13-F regulatory filing the company made late on Wednesday.
Validea Joel Greenblatt Strategy Daily Upgrade Report – 8/13/2020 (Nasdaq.com)
The following are today’s upgrades for Validea’s Earnings Yield Investor model based on the published strategy of Joel Greenblatt. This value model looks for companies with high return on capital and earnings yields. SEAGATE TECHNOLOGY PLC (STX) is a large-cap value stock in the Computer Storage Devices industry. The rating according to our strategy based on Joel Greenblatt changed from 70% to 80% based on the firm’s underlying fundamentals and the stock’s valuation. A score of 80% or above typically indicates that the strategy has some interest in the stock and a score above 90% typically indicates strong interest.
Hedge Funds Make $1 bln from Bets Against Travel Companies (Reuters)
LONDON, Aug 13 (Reuters) – Hedge funds betting against travel stocks this year made profits of $1.01 billion to end-July, and have $2.98 billion in short positions outstanding in the industry, regulatory filings and investment bank stock lending data shows. The coronavirus pandemic has inflicted huge losses and share price falls on airlines, hotels and cruise ship companies as lockdowns, travel bans and quarantines disrupted summer holiday plans for millions across the world.
Keystone Capital Partners Appoints Hedge Fund Veteran to Lead New Investment Platform (Hedge Week)
Keystone Capital Partners has formed a new investment platform led by hedge fund veteran Fred Zaino, which will provide capital solutions for small and midsize public and private companies. During a successful 15-year career at multi-billion-dollar global investment management firm Millennium, Zaino successfully identified and invested in hundreds of companies through bottom-up, fundamental analysis with a focus on the Biotech/MedTech sector. Keystone aims to help overlooked and underfunded companies reach their goals by providing a stable and equitable source of capital through creative investment structures,” says Zaino, Chief Investment Officer at Keystone. “I’ve learned throughout my career that the best returns are often generated from the strongest partnerships, and Keystone will invest in building long-term, mutually beneficial relationships with strong management teams to help them meet and exceed their business objectives.”