Brevan Howard Predicts Growing Threat from Inflation Spiral (Hedge Week)
Hedge fund Brevan Howard is predicting an increased threat of a wage-price spiral crisis, last seen in the 1970s, due to high inflation and tight labour markets, according to a report by Bloomberg. A similar situation arose during the “Volcker Era”, which ultimately proved extremely costly to reverse, the report credits Brevan Howard as saying in a note to shareholders of one of its listed funds.
ETC’s New Quant Strategy Returns 35% in Q1 (Opalesque)
Eckhardt Trading Company (ETC), an early pioneer of systematic trading, has recently launched a new strategy that analyses market positioning to exploit crowded and uncrowded trades. It has done very well in the first quarter. The system, developed by portfolio manager Steven Moyer, earned an allocation within ETC by passing a strict internal testing process known as “the gauntlet”. Rob Sorrentino, president of Eckhardt, has known Moyer for over seven years and they previously worked together.
Tuesday 4/5 Insider Buying Report: TFFP, GRPN (Nasdaq.com)
At TFF Pharmaceuticals, a filing with the SEC revealed that on Monday, Director Aaron G.L. Fletcher purchased 542,000 shares of TFFP, for a cost of $6.47 each, for a total investment of $3.50M. Fletcher was up about 18.8% on the purchase at the high point of today’s trading session, with TFFP trading as high as $7.68 in trading on Tuesday. TFF Pharmaceuticals is trading up about 9.6% on the day Tuesday. And on Friday, Jan Barta bought $2.37M worth of Groupon, buying 123,346 shares at a cost of $19.25 each. Groupon is trading up about 2.8% on the day Tuesday. So far Barta is in the green, up about 8.8% on their purchase based on today’s trading high of $20.95.
Executives Sell More Than $262M Of 5 Stocks (Benzinga)
Regeneron Pharmaceuticals: The Trade: Regeneron Pharmaceuticals, Inc. (REGN) +1.06% Director P. Roy Vagelos sold a total of 28,572 shares at an average price of $700.01. The insider received around $20 million from selling those shares. Horizon Therapeutics: The Trade: Horizon Therapeutics Public Limited Company (HZNP) +0.72% Chairman, President and CEO Timothy Walbert sold a total of 50,000 shares at an average price of $105.26. The insider received around $5.26 million from selling those shares.
SEC Obtains Final Judgment Against Hedge Fund Adviser Who Jury Found Liable for Securities Fraud (HedgeCo.net)
(HedgeCo.Net) The Securities and Exchange Commission has obtained a final judgment against a hedge fund adviser and his investment advisory firm. According to the SEC’s complaint, filed in September 2018, Gregory Lemelson and Massachusetts-based Lemelson Capital Management, LLC (“LCM”) were charged with making false statements to drive down the price of San Diego-based Ligand Pharmaceuticals Inc. and profit from a short position in Ligand’s stock.
