D.E. Shaw to Open Singapore Office as Hedge Funds Target Asia (Bloomberg)
D. E. Shaw & Co. will open an office in Singapore next year, joining other hedge funds expanding in the city-state to extend their reach in Asia. The firm, one of the world’s biggest hedge funds with more than $50 billion in investment capital, has applied for a fund management license from the Singapore central bank, adding to existing Asian operations in Hong Kong and Shanghai, according to a statement Thursday.
As Paul Singer Donated Millions To Republican Governors Association, Public Funds Flowed Into His Hedge Funds (The Intercept)
IN MARCH, Paul Singer, one of the nation’s richest hedge fund managers, cut a $500,000 check to the Republican Governors Association. It was part of a gubernatorial spending spree that stretched back to 2013 and saw some $7 million flow from Singer to the campaign arm for GOP governors. Singer, however, is not a typical partisan billionaire looking to lower tax rates and beat back the creep of socialism: Singer’s business model depends in part on lucrative fees accrued from public funds — funds that are often controlled by trustees appointed by Republican governors.
3 Investing Lessons From Ray Dalio (The Motley Fool)
Have you heard of Ray Dalio? Some say that he’s arguably the greatest hedge-fund manager of all time. His investment-management firm, Bridgewater Associates, manages nearly $150 billion, and has historically outpaced the market. There are a many lessons to be learned from Dalio when it comes to investing. He’s largely interested in the human bias side of the equation, as well as the fundamentals of modern portfolio theory. Here are three.
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Technology Investor Lead Edge Capital Raises $950m for the Fifth Fund from a Whopping 500 Investors (Opalesque.com)
Lead Edge Capital, a technology-focused venture firm raised a $950 million fund – Lead Edge Capital (LEC) V – for growth-stage technology investing, adding to the already soaring fundraising total for the sector. Fund V was oversubscribed and closed at its hard cap, with $950 million of commitments from over 500 existing and new limited partners. Limited Partners come from companies including Charles Schwab, Capital One, Disney, NetSuite, eBay, Microsoft, Xerox, Unilever, Cisco, Saks, Autodesk, Intuit, ESPN, and many more. Over the past year, the Lead Edge team and its LPs have facilitated more than 500 introductions to portfolio companies.
Month in Review – September 2020 (Hedge Nordic)
Stockholm (HedgeNordic) – Whereas global hedge funds dipped negative in September and brought to an end a five-month string of positive returns, Nordic hedge funds enjoyed their sixth consecutive month of positive returns. Nordic hedge funds, as reflected by the Nordic Hedge Index, edged up 0.3 percent in September (92 percent reported), bringing the industry’s year-to-date performance further into positive territory at 2.7 percent.
A Portfolio Manager at $20 Billion Lone Pine Says Value Investing is Alive and Well with a New Class of Company Leading the Way – and Explains Why Hyper-Growth Firms Like Facebook Now Fit the Bill (Business Insider)
Value isn’t dead, it’s just changed its name and appearance. This is what Lone Pine Capital‘s Mala Gaonkar argued in a Milken Institute-hosted panel Wednesday morning. The $20 billion hedge fund that Gaonkar helps manage is known as one of the premier growth investors in the world, and its biggest holdings include names like Amazon, Paypal, Shopify, Facebook, and Microsoft.
Hedge Fund Giant Marshall Wace Takes Big Stake in IAG as Airline Industry Faces “Worst Crisis” (Hedge Week)
Marshall Wace, the long-running high-profile hedge fund set up by Sir Paul Marshall and Ian Wace, has taken a 3 per cent share in IAG, the owner of British Airways, Iberia, and Aer Lingus, in a reported bargain swoop for stocks and sectors hit hard by the coronavirus pandemic. The London-based long/short hedge fund giant’s stake – estimated at around GBP140 million (USD181.3 million) – comes after BA earlier this week replaced its chief executive Alex Cruz with Aer Lingus chairman and CEO Sean Doyle, amid what IAG chairman Luis Gallego described as the “worst crisis faced in our industry.”
Workday Inc (WDAY) COO & Executive Vice President James Bozzini Sold $11.4 million of Shares (Guru Focus)
COO & Executive Vice President of Workday Inc, James Bozzini, sold 50,000 shares of WDAY on 10/12/2020 at an average price of $227.1 a share. The total sale was $11.4 million. Workday Inc is a SaaS provider offering enterprise resource planning, or ERP, software for medium and large enterprises. The company’s product portfolio is built around human capital and financial management software.
The CAO of GEE Group (NYSE MKT: JOB) is Selling Shares (Analyst Ratings)
Yesterday, the CAO of GEE Group (JOB), Stuckey Alexander Preston Alexander, sold shares of JOB for $316.8K. JOB’s market cap is $17.67 million and the company has a P/E ratio of 1.10. The company has a one-year high of $2.49 and a one-year low of $0.17. Company insider trades are published daily on the SEC (Securities and Exchange Commission).
Pinterest Inc (PINS) Chairman, President, CEO, Co-F Benjamin Silbermann Sold $13.9 million of Shares (Guru Focus)
Chairman, President, CEO, Co-F of Pinterest Inc, Benjamin Silbermann, sold 315,000 shares of PINS on 10/14/2020 at an average price of $44.27 a share. The total sale was $13.9 million. Pinterest Inc has a market cap of $26.42 billion; its shares were traded at around $43.99 with and P/S ratio of 20.44. GuruFocus has detected 1 severe warning sign with Pinterest Inc.
Insiders Ratchet Up Their Selling (Real Money)
A mix of positive and cautionary technical events generated on the charts of the equity indices leave most in near-term uptrends. However, the combination of increased insider selling pressure versus the Rydex Ratio, which has historically been a prescient leading indicator, combined with valuation lead us to downgrade our near-term market outlook.
