Hedge Fund Manager Pierre Andurand Sees a Path to $200 Oil By End of the Year (Bloomberg Quint)
(Bloomberg) — Commodities trader Pierre Andurand sees a path for crude oil to get to $200 by the end of the year as historically tight markets struggle to ramp up production and replace lost supply from Russia. He estimates some 4 million barrels per day have been taken out of circulation as a result of Russia’s invasion of Ukraine and subsequent restrictions on doing business with the Putin government. While releasing oil from strategic petroleum reserves could help boost supply in the short-term, it’s likely that the energy industry won’t be able to increase capacity to fully offset the lost barrels.
Hedge Fund Brevan Howard Enlists Behavox for Compliance Solutions (Hedge Week)
Hedge fund firm Brevan Howard Asset Management has partnered with Behavox, a provider of a suite of security products that help compliance, HR, and security teams protect their organisations and colleagues. Elwood Technologies Services Limited and Coremont LLP, which are affiliated with Brevan Howard, will also be part of the Behavox deployment. Elwood provides an end-to-end crypto trading platform to financial institutions and Coremont provides portfolio management services.
Billionaire Investor Leon Cooperman Says Stocks have Further to Fall, as the Ukraine Conflict and the Fed Shake Markets (Business Insider)
Leon Cooperman said stocks have further to fall as the Ukraine war and the Fed rock markets. The S&P 500 has fallen sharply this year, but the billionaire investor still thinks it’s moderately overvalued. Despite his pessimism, Cooperman told CNBC stocks remain “the best asset in a bad neighborhood.” Billionaire investor Leon Cooperman believes stocks have further to fall, as the impact of the Ukraine conflict and central banks’ monetary policy shakes markets.
Photo by Nicholas Cappello on Unsplash
Billionaire John Paulson Sells Stunning NYC Mansion for $20M Under Ask (New York Post)
Hedge fund billionaire John Paulson is still in the midst of a messy divorce — his estranged wife, Jenny, apparently learned that he filed while reading Page Six — and maybe that’s why he sold a stunning Upper East Side condo for $5 million, which is far less than its $24.5 million asking price in 2013. The condo unit, which once operated as an art gallery, is at 11-15 E. 70th St., a landmarked limestone mansion that has been transformed into an exclusive boutique condo beside the Frick Museum. The French Classical mansion was built in 1910 by Charles I. Berg.
Deutsche Bank’s Most-Liked Trader Living Best Life in Hedge Fund (eFinancialCareers.com)
When Yao King left Deutsche Bank in 2019, it was cause for commiseration. King, who was the global head of program trading at Deutsche Bank back in the day when DB still had an equities business, was a popular figure on the trading floor and was known for his generosity in dispensing things like pizza to colleagues. Since leaving DB, however, King’s existence seems to have become considerably more wholesome. These days, he’s both a portfolio manager and a farmer. King left Deutsche for Millennium Management. Even before the pandemic, Millennium had a reputation for allowing its employees to work from anywhere.
Hedge Funds Secured Their Comeback With Another Year Of Robust Inflows (Forbes)
It looked like hedge funds were making a comeback following the sharp drawdown in the markets in March 2020, and now, another year later, signs point to that comeback being secure. In 2021, hedge funds reporting to Citco recorded another robust year for returns and inflows, racking up more than twice the inflows recorded in 2020.
What’s Next for Russia – Focused Hedge Funds? (Institutional Investor)
As the Russia-Ukraine conflict continues to rage, the few remaining Russia-focused funds currently find themselves in limbo. But one manager is optimistic about future prospects. Russia’s devastating and destructive invasion of Ukraine has not only horrified most of the world, it’s also upended the handful of Russian-focused hedge funds that have all but halted operations since the Russian Stock Exchange shut down on February 25.
Hedge Fund Point72 is Hiring for 200 Roles Right Now, with Salaries Up to $300,000. Here’s How Much You can Expect to Earn as a Data Analyst, Software Developer, and More. (Business Insider)
Point72, the American asset management firm led by billionaire Steven A. Cohen, is evolving — and hiring. With over $24.2 billion under management, the 1,800-person hedge fund is revamping the tech that helps inform its investment decisions. By 2024, the company is slated to become a cloud-first firm, Mark Brubaker, Point72 chief technology officer, previously told Insider.
Buffett Makes Big Bet On American Oil As Hedge Funds Liquidate Positions (OilPrice.com)
Berkshire Hathaway disclosed that it raised its stake in Occidental Petroleum to 14.6% with purchases of 18.1 million more shares this week. Occidental surged this month after Berkshire’s earlier investment and as the war in Ukraine drove oil prices higher. Occidental hiked dividend 1,200% in February.
Thursday 3/17 Insider Buying Report: NOTV, DM (Nasdaq.com)
On Tuesday, Inotiv’s Chief Operating Officer, RMS, James Harkness, made a $765,637 buy of NOTV, purchasing 38,968 shares at a cost of $19.65 each. Harkness was up about 16.9% on the buy at the high point of today’s trading session, with NOTV trading as high as $22.97 in trading on Thursday. Inotiv is trading up about 0.6% on the day Thursday. And on Wednesday, Chief Executive Officer Ric Fulop bought $525,231 worth of Desktop Metal, buying 128,850 shares at a cost of $4.08 each. This buy marks the first one filed by Fulop in the past year. Desktop Metal is trading up about 4.1% on the day Thursday. So far Fulop is in the green, up about 13.3% on their buy based on today’s trading high of $4.62.
Moderna CEO Stephane Bancel has Sold More Than $400 Million of Company Stock During the Pandemic (CNBC)
Moderna CEO Stephane Bancel has sold $408 million in company stock since the beginning of the coronavirus pandemic – averaging roughly $3.6 million a week – as the company’s stock soared on the development and rollout of its Covid vaccine, according to CNBC’s analysis of the company’s securities filings.
