Ken Griffin Goes Zen and Makes His Mark on Shed at Hudson Yards (Bloomberg)
Citadel founder Ken Griffin said the firm’s new offices at 425 Park Ave. will be designed to be a “tranquil” and “zen” environment to help people “be calm and focus and make good decisions.” In the meantime, he’s helping create an edgy space for art in a newer part of town, with a $25 million gift to the Shed at Hudson Yards, a 500-seat theater that will bear his name. Guests at the Shed’s Founders Dinner learned about the gift Sunday night.
Hedge Fund Titan Keith Meister Talks Q2, Lyft, and What He Expects for the… (CNBC)
Hedge fund titan Keith Meister joins “Squawk Box” to discuss the market rally heading into the second quarter and what investors should think about for the rest of 2019.
AQR’s Revamped Risk-Parity Fund Notches Record Quarterly Return (Bloomberg)
The “everything rally” that greeted investors to start 2019 delivered a record quarter for AQR Capital Management’s flagship fund. The firm’s AQR Multi-Asset Fund rose 9.6 percent in the first three months of the year, rebounding from a fourth-quarter drubbing. The fund, previously known as AQR Risk Parity, stripped the reference to the quantitative strategy last year. It lost about 6 percent in the fourth quarter and saw redemptions last year that contributed to a drop in the firm’s 2018 assets under management to $192.7 billion from $223.9 billion a year earlier.
Oops…Bodenholm Did it Again (HedgeNordic)
Stockholm (HedgeNordic) – The 2019 Investors Choice winners have been announced, and one Nordic name features among the winners. Stockholm-based long/short equity fund Bodenholm was named the best “Global Equity Fund” with assets over $500 million, exactly one year after receiving a similar top prize at the 2018 Investors Choice Awards. c, which just recently launched the UCITS version of its long/short equity strategy, competed with five other funds for the top spot in the “Global Equity Fund over $500m” category. The Bodenholm fund’s USD share class returned 8.9 percent last year. Founded by Per Johansson (pictured), Bodenholm employs a Europe-focused fundamental equity long/short strategy with a global mandate. Bodenholm aims to deliver absolute returns with limited market exposure and low correlated to equity markets. Currently overseeing €700 million in assets under management, the fund managed to generate an annualized return of 7.1 percent since launching in September 2015.
EPIQ Capital Group Names Boris Albul CIO (AI-CIO.com)
Private multi-family office EPIQ Capital Group has named Boris Albul as its new CIO. Albul will lead macroeconomic research, investment analysis, portfolio construction, and risk management for EPIQ clients, the company said. Albul was most recently head of risk management at a global, multi-family office with $27 billion in assets under management. Prior to that, he was a portfolio manager at QSF Capital Management, and before that, a financial economist at the Federal Reserve Bank of Boston. He was also head of quantitative analysis at Allianz Hedge Fund Partners, and CIO at a quantitative hedge fund.
Most Hedge Fund Investors to Maintain or Increase Hedge Fund Allocations Despite Crowding Concerns (Opalesque.com)
Despite a turbulent 2018 marked by poor performance and market volatility, Institutional investors are swarming to hedge funds this year. According to J.P. Morgan Capital Advisory Group’s 16th annual Institutional Investor survey, investors plan to continue to utilize hedge funds as a primary source of alpha generation in 2019 and to increase their overall asset allocation to hedge funds. 68% of survey respondents indicated their hedge fund portfolio underperformed its target return in spite of poor performance across the hedge fund industry, a stark contrast with 2017. As a potential result, 80% of respondents indicated crowding as a top concern when investing in hedge funds, up from 62% last year. Yet, looking to 2019, most hedge fund investors expect to maintain – or even increase – their overall hedge fund allocation. 32% of respondents’ hedge fund investments met or exceeded expected returns in 2018, in stark contrast to 2017.
Detour Gold Names New Permanent CEO After Paulson-Led Proxy Battle (Infotel.ca)
TORONTO – Detour Gold Corp. has named a new CEO after an activist investor helped push for a leadership shake-up last year. The company says Michael McMullen will come on as chief executive and director on May 1, pending his authorization to work in Canada. Hedge fund Paulson & Co. won out in a proxy battle last December that saw five Paulson-nominated directors approved to take control of the company’s future.
The Star Investor in ‘The Big Short’ Has a New Short Against Barclays — and is Ramping Up Bearish Bets on Banks (Business Insider Nordic)
Steve Eisman, the hedge-fund manager known for betting against the US housing market ahead of the 2008 crash, is holding a short position in Barclays. Eisman, who was played by Steve Carell in the movie “The Big Short,” is a portfolio manager at Neuberger Berman. The fund disclosed the positions in a filing. Neuberger Berman is shorting a swath of European, Canadian, and US banks including Wells Fargo.
Massachusetts Man Acquitted On Vistaprint Insider Trading Charges (ASICentral.com)
A Boston-area businessman accused of obtaining inside information from a former Vistaprint employee to illegally trade in the company’s stock has been acquitted of federal fraud charges. Top 40 distributor Cimpress (asi/162149) owns Vistaprint, a web-based seller of customizable business materials and promotional products. A jury in the U.S. District Court for the District of Massachusetts on Friday found restaurateur Charlie Jinan Chen not guilty of the three securities fraud charges he had been facing related to the alleged insider trading. The jury, however, declared Chen guilty of making a materially false statement.
Acacia Research: Insider Purchasing Signals Short-Term Trading Opportunity (Seeking Alpha)
Acacia Research reported 2018 full-year results on March 13th, 2019. Its legacy patent portfolio did produce, but probably for the last time. The outlook for 2019 is still hazy. But there’s a key insider whose actions would indicate hope. He’s clearly and consistently purchasing shares. For the buy-and-hold investor, an investment may be inconceivable at this point. But, for the short-term trader willing to monitor the company, there could be gains to reap.
The EVP & CFO of Oasis Petroleum Inc (NYSE: OAS) is Selling Shares (Analyst Ratings)
Today, the EVP & CFO of Oasis Petroleum Inc (OAS), Michael Lou, sold shares of OAS for $241.6K. Based on Oasis Petroleum Inc’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $600 million and quarterly net profit of $222 million. In comparison, last year the company earned revenue of $404 million and had a net profit of $125 million. Currently, Oasis Petroleum Inc has an average volume of 7.83M.
Monday 4/1 Insider Buying Report: ANH, MTEX (Nasdaq.com)
As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy – they expect to make money. So let’s look at two noteworthy recent insider buys. On Friday, Anworth Mortgage Asset Corp. (ANH)’s Director, Dominique Mielle, made a $121,500 buy of ANH, purchasing 30,000 shares at a cost of $4.05 each. Anworth Mortgage Asset Corp. is trading up about 1.2% on the day Monday. And on Thursday, Director J. Stanley Fredrick bought $56,266 worth of Mannatech (MTEX), buying 3,149 shares at a cost of $17.87 each. Before this latest buy, Fredrick purchased MTEX on 5 other occasions during the past year, for a total investment of $29,097 at an average of $18.06 per share. Mannatech is trading down about 1.4% on the day Monday.
Westlake Chemical Partners LP (NYSE:WLKP) Insider Trading Activity – Major Shareholder Bought 1,401,869 shares of Stock (MarketExclusive)
Insider Trading Activity For Westlake Chemical Partners LP (NYSE:WLKP): Ttwfgp Llc , Major Shareholder of Westlake Chemical Partners LP (NYSE:WLKP) reportedly Bought 1,401,869 shares of the company’s stock at an average price of 21.4 for a total transaction amount of $29,999,996.60.
Insider Buys Of The Week: Continental Resources, Kinder Morgan, Revlon (Benzinga)
Conventional wisdom says that insiders and 10 percent owners really only buy shares of a company for one reason — they believe the stock price will rise and they want to profit from it. So insider buying can be an encouraging signal for potential investors, particularly during periods of uncertainty. Here’s a look at a few notable insider purchases reported in the past week. Continental Resources: Early last week, the Continental Resources, Inc. CLR 4.21% board chair and chief executive, Harold Hamm, returned to buy another 191,800 or so shares. At prices that ranged from $42.49 to $43.25 per share, that totaled around $8.22 million. Note that Hamm also acquired 600,000 shares the previous week, and more back in February.