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Hedge Fund and Insider Trading News: Odey Asset Management, Louis Bacon, Tom Steyer, Harvard Bioscience, Inc. (HBIO), Trex Company Inc (TREX), and More

Odey Asset Management Long-short Fund Up 8 pct in Feb – Investor Report (Reuters)
LONDON, March 13 (Reuters) – Odey Asset Management’s main European long-short equity hedge fund made gains of 8 percent in February, according to an investor report seen by Reuters on Tuesday. Odey’s OEI Mac fund, which bets on company share prices rising and falling, is run by founding partner Crispin Odey, according to the firm’s website. Odey Asset Management could not immediately be reached for comment.

Louis Bacon’s Largest Stock Purchases In Q4: Apple Inc And Microsoft Corporation (Benzinga)
This asset manager outperformed the market in Q4 as revealed in its recent 13F filing with the SEC. I take a closer look at Moore Capital‘s trading activity which included purchases of Apple Inc. and Microsoft Corporation. The largest stock purchase was Apple. The investment manager increased its position in the company by $152.3 million. The second largest stock purchase was Microsoft with the investment manager increasing its position in the company by $130.4 million.

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Tom Steyer Group to Spend $2.5 million Mobilizing Young Wisconsin Voters, Targeting Republicans (The Cap Times)
Tom Steyer believes the millennials are our future. So he’s spending tens of millions of dollars to organize them, and let them lead the way. Steyer, a billionaire former hedge fund executive turned liberal political activist, has committed to spending $30 million in 10 states to register and energize progressive, millennial voters – $2.5 million of which will fund efforts in Wisconsin, home of Republican Gov. Scott Walker and Republican House Speaker Paul Ryan. “We are focused on registering, engaging and empowering the under-represented parts of society, which very much includes millennials,” Steyer said in an interview. “Traditionally, people have felt organizing millennials is too expensive, too time-consuming. We feel it is the essence of democracy to make sure the parts of society that aren’t participating enough participate.”

Hedge Funds Finally Got Some Volatility. It Didn’t Help (Bloomberg)
(Bloomberg Gadfly) — For years, the refrain of hedge funders, and their backers, has been that all they needed was a little bit of volatility. Everyone’s a genius in a bull market. It’s when markets turn down or tumultuous that pension funds and other clients are supposed to realize the wisdom of those high fees. That argument hasn’t played out so well this year. In February, the stock market encountered its first real big patch of volatility in years. The Cboe Volatility Index, better known as the VIX, soared as high as 40 after being around 10 for much of 2017. So hedge funds made out like bandits, right? Not so fast. The average hedge fund dropped 1.9 percent in February, according to HFR’s asset-weighted index. Some big hedge funds did much worse. The funds of David Einhorn and Bill Ackman, Greenlight Capital and Pershing Square Capital Management, respectively, were down 6.2 percent and 5.8 percent.

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