Hedge Fund and Insider Trading News: Mike Novogratz, Crispin Odey, Steve Cohen, Fulcrum Asset Management, Elliott Management, Envestnet Inc (ENV), Arrowhead Pharmaceuticals Inc (ARWR), and More

Page 1 of 2

Bitcoin is Like ‘Digital Gold’ and Won’t Be Used the Same as a Traditional Currency in at Least 5 Years, Billionaire Investor Mike Novogratz Says (Business Insider)
Bitcoin is like “digital gold” and won’t be used in the same way as traditional currency for at least the next five years, billionaire investor Mike Novogratz told Bloomberg on Friday. “I don’t think Bitcoin is going to be used as a transactional currency anytime in the next five years,” the bitcoin bull said in an interview with Bloomberg TV and Radio. “Bitcoin is being used as a store of value.”

Crispin Odey’s Hedge Fund Business Considers Rebrand that could See Tycoon’s Name Drop Off Some Funds (MSN Money)
Crispin Odey‘s hedge fund business is considering a rebrand that could see the tycoon’s name drop off some of its funds. Odey Asset Management, the Mayfair-based company he founded in 1991, has also drawn up emergency plans in case he is unable to continue running investments. But the 61-year-old told The Mail on Sunday he does not intend to retire or step down any time soon. ‘I’m having a great time at the moment,’ he said. ‘Provided you’re understanding the world you’re investing in accordingly, it’s a great world to be in.’

Steve Cohen, Sandy Alderson Already Eyeing International Scouting Plan, Improvements: Source (Amny.com)
Every passing day seems to ease any sort of trepidation that hedge-fund billionaire Steve Cohen will recklessly spend when he takes over majority ownership of the New York Mets. Since amNewYork Metro reported over the last month that analytics will be one of the Mets’ top priorities under Cohen — along with using the trade market to acquire roster upgrades just as much as free agency — a source alerted us that the soon-to-be owner and president of baseball operations, Sandy Alderson, have already discussed international scouting strategies.

A Major Value Investor is Shutting his Fund and Returning Money to Investors. Warren Buffett Did the Same Thing in 1969 (Business Insider)
Ted Aronson, the cofounder and co-CEO of AJO Partners, plans to shutter the value-investing firm after more than three decades and return $10 billion to investors. The unusual decision echoes Warren Buffett‘s closure of his Buffett Partnership in 1969. “Our relative performance has suffered because our investment edge, our ‘secret sauce,’ is at odds with many forces driving the market,” Aronson wrote in a letter to AJO clients this month. AJO provided a copy of the letter to Business Insider.

Somerset Capital Brings on China Team (Pensions&Investment)
Min Chen joined Somerset Capital Management in Singapore to head up a team that will add standalone China offerings to the London-based global emerging markets equity specialist’s product line-up, said Dominic Johnson, CEO and founding partner. With China approaching 50% of the global emerging markets universe, positioning Somerset to meet growing investor demand for China-specific strategies has been a priority, Mr. Johnson said in an interview Monday.

Hedge Fund Giants Lose Their Appeal as Havens in Global Turmoil (Bloomberg)
Investors have thronged the largest hedge funds since the last financial crisis as they sought safety in size. Now, they’re paying a hefty price. Supersized funds are failing their clients during a period of market upheaval that in theory should pose an unprecedented chance to make money. Instead of profiting, though, some of the world’s biggest hedge funds have barely managed to protect their investors from losses.

Fulcrum Hires Ex-Arrowgrass Chief Economist Cartiglia for Senior Macro Role (Hedge Week)
Global multi-asset manager Fulcrum Asset Management has hired Filippo Cartiglia, former chief international economist at Arrowgrass Capital Partners, as a senior member of its investment team. Cartiglia’s hire is aimed at strengthening the GBP3.6 billion firm’s macro effort, with his role focusing on macroeconomic research. Before joining Fulcrum, he spent nine years at multi-asset hedge fund manager Arrowgrass Capital Partners as chief international economist. He was previously based in Goldman Sachs International’s economic research group in London, and was later a managing director in its private wealth management division.

Page 1 of 2