Ken Griffin’s Citadel Beats Multistrategy Rivals Gaining 26% in 2021 (Bloomberg)
Ken Griffin’s Citadel bested its mega-multistrategy peers, posting a 26% return for 2021. The $43.1 billion firm’s Wellington fund, which runs a market neutral strategy, beat D.E. Shaw & Co. and Millennium Management even as their hedge funds had double-digit gains. Multimanager, multistrategy firms use separate pods of traders to invest across assets and geographies.
Capstone Hedge Fund CEO Warns of ‘Wickedly Dangerous’ Volatility Risk as Raging Bull Market Tops 600% (Financial News)
A raging bull market that has lasted more than a decade has blindsided some long-term investors to volatility risks in their portfolios, according to one hedge fund boss. Paul Britton, chief executive of New York-based Capstone Investment Advisors, said some investors are too focused on achieving certain investment returns without factoring in the volatility they might experience in the process.
Elliott Advisors Backs Dave Jenkinson as New Taylor Wimpey Chief Executive (The Times)
The activist investor demanding a leadership overhaul at Taylor Wimpey has told shareholders that it would back Dave Jenkinson, the former boss of Persimmon, to take over as chief executive. Elliott Advisors, the influential American hedge fund, has been speaking to fellow shareholders in the FTSE 100 housebuilder since it confirmed last month that it had built a stake in Taylor Wimpey and attacked its management.
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As Toshiba Investors Carp, No. 2 Shareholder Urges EGM Vote on Break-Up Plan (Reuters)
TOKYO (Reuters) – The second-largest investor in Japan’s Toshiba Corp on Thursday called for an extraordinary general meeting, seeking to force the company to win two-thirds support for a three-way breakup plan that has angered some major overseas shareholders. The proposal by Singapore-based hedge fund 3D Investment Partners marks the latest in a long and acrimonious battle between the once-mighty tech conglomerate and a number of its foreign shareholders, many of them activist funds.
Lone Pine’s Ugly Quarter (Institutional Investor)
The Tiger Cub’s funds suffered sharp losses that marred full-year results. Lone Pine Capital’s two funds posted huge losses in the fourth quarter.As a result, the Tiger Cub’s long-short hedge fund finished the year in the red, while its long-only fund was barely profitable. Lone Cypress, the Tiger Cub’s hedge fund, was down about 12 percent in the fourth quarter and wound…
Hedge Funds are Selling Tech Shares at Their Fastest Pace in a Decade as Rates Spike (CNBC)
Surging bond yields have triggered hedge funds to sell growth-focused technology shares at a speed not seen in the past decade. The hedge fund community dumped tech stocks in the four sessions between Dec. 30 and Tuesday as interest rates spiked. The four-session tech unloading marked the biggest sale in dollar terms in more than 10 years, reaching a record since Goldman Sachs’ prime brokerage started tracking the data.
Odey’s Hedge Fund Posts 54% Gain in 2021 After Wild Ride (Bloomberg)
Even for Crispin Odey’s investors, who are used to frequent bouts of booms and busts at his hedge fund, last year was a rollercoaster ride. The London-based money manager enjoyed both his best-ever monthly return and suffered his worst monthly loss, according to a person familiar with the performance. Odey’s fund finally ended the year with a gain of almost 54%, said the person, who asked not to be identified because the details are private.
Quant Fund Pioneer Millburn Ridgefield Hires Michael Soss for New Deputy CIO Role (Hedge Week)
Global quantitative asset manager Millburn Ridgefield has hired Michael Soss as Deputy Chief Investment Officer, a newly-created role at the long-running systematic investment pioneer. Soss joins from Point72 Asset Management in New York and Stamford, where he spent more than five years in a range of leading roles across risk and trading research. Most recently, Soss led the firm’s Fusion group, a quant trading division focused on internal alpha capture.
Hunter Point Capital Picks Up Stake in Iron Park Capital (The Wall Street Journal)
Hunter Point Capital is taking a minority stake in Iron Park Capital Partners, an investor in public and private credit markets. Two executives behind the pair of New York-based firms share a common link: GSO Capital Partners, which Blackstone Inc. acquired in 2008 and turned into its private credit platform.
The Regional Executive Vice-President of Stantec (NYSE: STN) is Buying Shares (Analyst Ratings)
Yesterday, the Regional Executive Vice-President of Stantec (STN), Catherine Margaret Schefer, bought shares of STN for $121.8K. Following this transaction Catherine Margaret Schefer’s holding in the company was increased by 16% to a total of $1.22 million. In addition to Catherine Margaret Schefer, one other STN executive reported Buy trades in the last month. The company has a one-year high of $58.50 and a one-year low of $31.46. Currently, Stantec has an average volume of 91.92K.
T-Mobile US, Inc. (NASDAQ:TMUS) Insiders Sold US$7.3m Worth of Stock Suggesting Impending Weakness. (Nasdaq.com)
The fact that multiple T-Mobile US, Inc. (NASDAQ:TMUS) insiders offloaded a considerable amount of shares over the past year could have raised some eyebrows amongst investors. Knowing whether insiders are buying is usually more helpful when evaluating insider transactions, as insider selling can have various explanations. However, shareholders should take a deeper look if several insiders are selling stock over a specific time period.
Insider Trading: January 3, 2022 (BIV.com)
Insider Lenard Boggio, officer. Company: Solaris Resources Inc. (TSX:SLS). Shares owned: 0. Trade date: December 16. Trade total: $380,000. Trade: Sale of 25,000 shares at a price of $15.20 per share. Insider David Charles Laing, director. Company: Fortuna Silver Mines Inc. (TSX:FVI). Shares owned: 74,150. Trade date: December 12. Trade total: $196,400. Trade: Acquisition of 40,000 shares at a price of $4.91 per share.
