Exclusive: Crypto Billionaire Novogratz Leads Funding for Virtual Real Estate Firm (Reuters)
LONDON (Reuters) – Galaxy Interactive, the venture capital division of billionaire crypto investor Mike Novogratz’s Galaxy Digital, has taken a lead investor role in virtual real estate developer Republic Realm, its managing director said. Janine Yorio, managing director of Republic Realm, told Reuters Novogratz’s backing was a vote of confidence for the $10 million investment vehicle. Republic Realm buys virtual real estate, a crypto asset or non-fungible token (NFT) that has its ownership status and authenticity verified by blockchain. NFTs have exploded in popularity in 2021, with prices skyrocketing.
Warren Buffett and Charlie Munger Knocked Robinhood, Discussed the Archegos Fiasco, and Reflected on Their Friendship in a New Interview. Here are the Highlights (Business Insider)
Warren Buffett and Charlie Munger discussed their iconic friendship, how they approach business, and how they built Berkshire Hathaway in “Buffett & Munger: A Wealth of Wisdom,” a CNBC program filmed shortly after the Berkshire annual meeting in May and aired on Tuesday night. The Berkshire Hathaway chairman and vice-chairman also criticized Robinhood, called for tighter regulations after the Archegos Capital fiasco, discussed the remote-working trend, and shared what they learned from the pandemic.
$22.1 Billion Hedge Fund Point72 Hiring “Head of Crypto” (U.Today)
Point72 Asset Management, the hedge fund founded by billionaire Steven Cohen, is searching for a “head of crypto,” according to a report by The Street that cites people with knowledge of the matter. As reported by U.Today, Cohen mentioned that he was “fully converted” to crypto in a recent interview, adding that he was still early: I’m not going to miss this. I’ve missed the first part, but I still feel like I’m early. I may look foolish initially, but it accordingly to earn the game. And then, when you’re confident, take it to the next level.
Photo by Austin Distel on Unsplash
Calgus: Concentrated and Unconstrained (Hedge Nordic)
Stockholm (HedgeNordic) – Although this does not apply to every single manager out there, the name of the game for many equity-focused hedge fund managers is beating the market. Relying on a concentrated and unconstrained approach to investing, a Stockholm-based duo – Gustaf von Sivers and Carl Urban – is aiming to do just that with their long-biased long/short equity fund, Calgus Fond.
Testmaker’s Activist Spat Risks M&A Rerun (Reuters)
LONDON, June 30 (Reuters Breakingviews) – Qiagen (QIA.DE) is once again under the activist spotlight. Hedge fund Davidson Kempner on Wednesday renewed its attack on the 10 billion euro genetic testing group’s board, criticising its “history of ineffectiveness” and calling for Chairman Lawrence Rosen and board member Elizabeth Tallett to step down.
