John Paulson on Frothy US Housing Market: This Time Is Different (Bloomberg)
John Paulson became a billionaire after his hedge fund effectively shorted more than $25 billion of mortgage securities at the dawn of the global financial crisis. As he sizes up yet another frothy housing market some 15 years later, the founder of Paulson & Co. says another downturn in US home prices may be in the cards — but the banking system is in a much better condition to handle it.
Hedge Fund Caxton is No Longer Paying £700k a Year in London (eFinancialCareers.com)
Hedge fund Caxton is no longer paying £700k a year in London. Macro hedge fund Caxton has been around a long time. Founded in 1983 by U.S. investor Bruce Kovner, it’s one of the granddaddies of the hedge fund world. It has seen ups and it has seen downs. Compared to 2020, 2021 looks a lot like a down. The fund just published results for its UK entities – Caxton Europe LLP (the partnership) and Caxton Europe Asset Management Ltd. Both confirm that 2021 wasn’t nearly as good as 2020.
SS&C GlobeOp Forward Redemption Indicator at 2.67% for September (Hedge Week)
The SS&C GlobeOp Forward Redemption Indicator for September 2022 measured 2.67%, up from 2.35% in August. “SS&C GlobeOp’s Forward Redemption Indicator for September 2022 of 2.67% reflects a favourable level of redemption notices compared to historical norms for September, though slightly higher than the 2.45% reported for the same period a year ago,” said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. “In recent months, redemption notices have continued to run near all-time low levels as investors largely maintain their allocations to hedge funds in the face of strong financial market headwinds.”
Monday 9/26 Insider Buying Report: ALLK, CRK (Nasdaq.com)
On Wednesday, Allakos (ALLK)’s Director, Paul Edward Walker, made a $20M buy of ALLK, purchasing 3,984,000 shares at a cost of $5.02 a piece. So far Walker is in the green, up about 23.1% on their buy based on today’s trading high of $6.18. Allakos is trading up about 15.4% on the day Monday. And on Friday, Morris E. Foster bought $306,040 worth of Comstock Resources (CRK), buying 18,000 shares at a cost of $17.00 each. Before this latest buy, Foster purchased CRK on 2 other occasions during the past year, for a total investment of $497,650 at an average of $17.77 per share. Comstock Resources is trading up about 2.4% on the day Monday. Bargain hunters are able to grab CRK at a price even lower than Foster did, with shares changing hands as low as $16.11 at last check today — that’s 5.2% below Foster’s purchase price.
Scholastic EVP Makes $299K Stock Purchase (Benzinga)
Rose Else-Mitchell, EVP at Scholastic (SCHL), reported a large insider buy on September 22, according to a new SEC filing. What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission on Thursday showed that Else-Mitchell purchased 7,095 shares of Scholastic. The total transaction amounted to $299,976.
Insider Trading: September 26, 2022 (BIV.com)
Insider Alessandro Bitelli, director. Company: Filo Mining Corp. (TSX:FIL). Shares owned: 127,200. Trade date: Sept. 9, 12, 13. Trade total: $171,306. Trade: Sale of 10,000 shares at prices from $17 to $17.43 per share. Insider Roger Hardy, 10% owner. Company: Kits Eyecare Ltd. (TSX:KITS). Shares owned: 1,787,464. Trade date: Sept. 9. Trade total: $97,929. Trade: Acquisition of 35,100 shares at a price of $2.79 per share.
