CNBC Pro Talks: Hedge Fund Manager Dan Niles Bought Meta Shares. Here’s His Strategy for Tech Names (CNBC)
The Satori Fund founder Dan Niles has more than three decades of market experience, with a focus on large-cap technology companies. That space has been hit hard in 2022, leaving many investors wondering if Big Tech stocks are still the leaders of the pack. Dan, who is in the green this year, shares his macro analysis of the sector, when he thinks the market will hit THE bottom, and which names he thinks are poised to rebound going into 2023.
Bridgewater is Famous for Giving Brutally Honest Feedback in Real Time. Its Co-CEO Explains How the Hedge Fund is Shaking Up Its Notorious Culture. (Business Insider)
Bridgewater Associates‘ co-CEO Nir Bar Dea is looking to make some changes to its controversial culture as founder Ray Dalio takes a step back. “The ideas are different,” Dea said speaking at the Bloomberg Invest event Wednesday. “What we’re going to pursue is different. How we’re going to evolve that culture is different. How we go about those fundamentals are different, the hunger is different, the energy is different.”
Ackman’s Pershing Square Jumped 10% in October (Institutional Investor)
Bill Ackman’s Pershing Square Holdings hedge fund gained almost 10 percent in October, slashing its year-to date-loss to 12 percent. At the end of September it was down 19.9 percent for the year. Pershing Square’s big monthly gained eclipsed that of the S&P 500 index, which jumped 8 percent, but fell short of the Dow Jones Industrial Average, which rose about 14 percent in October — its best monthly gain since 1976.
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Adrigo Celebrates 5 Years (Hedge Nordic)
Stockholm (HedgeNordic) – Staffan Östlin’s Adrigo Small & Midcap L/S is celebrating its five-year anniversary this November with an annualized return of 12.4 percent over the past five years. The stock-picking fund was launched in late 2017 under the umbrella of Adrigo Asset Management, which was then acquired by Swedish asset manager East Capital in 2020.
Cathie Woods’ ARK Venture Fund Bets on Musk-Owned Twitter (TipRanks)
Ace hedge fund manager Cathie Wood’s recently launched fund, ARK Venture Fund, has taken a bet on Elon Musk’s Twitter. Cathie’s team has full faith in Musk’s capability to turn Twitter into a global super-app. In the investment thesis, Cathie noted that Twitter has transformed itself into one of the most powerful social media tools, used for instant news flow, idea sharing, and conversation hubs. Meanwhile, the ARK camp also acknowledges that Twitter has lost its sheen lately. “While it has struggled to scale user growth, engagement, and advertiser dollars in the past decade and has ceded some of its dominance to more content-rich platforms like Facebook, Instagram, YouTube, and TikTok, we believe that Twitter is valuable to those who have built audiences and businesses on its platform,” they added.
Billionaire Ken Griffin’s Citadel is Surpassing Other Multi-Strategy Hedge Funds with Double-Digit Returns This Year. Here’s How These Funds Did in October. (Business Insider)
Billionaire Ken Griffin‘s Citadel is surpassing other multi-strategy hedge funds with double-digit returns this year. Here’s how these funds did in October. Citadel’s gain comes as stocks had a big run in October. The S&P 500 gained 8% over the month, however, year to date the index is down 21%.
Domain Capital Raises More than $700m for Commingled Entertainment Fund (Opalesque.com)
Private investment management firm Domain Capital, along with its Domain Capital Advisors (DCA) subsidiary, has pulled down $700 million in equity commitments for its entertainment fund and co-investment vehicle focused on film, television, and music, with an allocation for other related investment opportunities. With $170 million having already been spent, Domain reiterated that it will look to invest the remaining capital in film, television, and music moving forward. According to a media release from the Atlanta-based investment firm, the fund follows the company’s successful deployment of an $830 million separate account launched in 2012, which focused primarily on film and television assets.
U.S. Inflation will Moderate Next Year, But a Recession is ‘Inevitable,’ Says Man Group Hedge Fund CEO (Fortune)
The good news is that the Federal Reserve’s campaign to cool off inflation by hiking interest rates will succeed—but it will come at the cost of higher unemployment and an almost certain recession. That’s the conclusion of Luke Ellis, CEO of Britain’s Man Group, the world’s largest publicly listed hedge fund manager, during an interview with Bloomberg Television.
US Probes Insider Trading in Prearranged Executive Stock Sales (Bloomberg)
US authorities are investigating whether executives have been gaming prearranged stock-sale programs designed to thwart the possibility of insider trading. The Justice Department and Securities and Exchange Commission are using computer algorithms in a sweeping examination of preplanned equity sales by C-suite officials, according to people familiar with the matter. Investigators are concerned that some people are manipulating the stock-sale programs, which are intended to shield executives from misconduct allegations by letting them schedule transactions in advance and on preset dates.
$10 Million Bet On This Consumer Cyclical Stock? 4 Stocks Insiders Are Buying (Benzinga)
Mobileye Global: The Trade: Mobileye Global Inc. (MBLY) CEO and President Amnon Shashua acquired a total of 476,191 shares an average price of $21.00. To acquire these shares, it cost around $10 million. Allegion: The Trade: Allegion plc (ALLE) President and CEO John Stone acquired a total of 12,500 shares at an average price of $104.45. To acquire these shares, it cost around $1.31 million.
