Hedge-Fund Billionaire Ray Dalio Says Don’t Let Beijing’s Regulatory Actions Scare You Away from Investing in Chinese Stocks (Business Insider)
Billionaire investor Ray Dalio said he isn’t fazed by Beijing’s regulatory crackdown affecting stocks of technology companies such as Didi, arguing the government’s moves don’t signal a reversal of longstanding policy trends. He defended China’s recent move to increase its grip on collection and use of data from all corners of the technology sector. Some Chinese stocks have logged their steepest declines in 2021 in the wake of the government’s clampdown.
Ex-ExodusPoint Hedge Fund Accumulating Staff, Assets (eFinancialCareers)
It’s been a year since we reported that Alessandro Cipollini, a former macro trader at ExodusPoint Capital Management, was launching his own macro fund, Ermitage Capital Management LLP. Twelve months on, sources say he’s been busy hiring. Cipollini declined to comment for this article, but he’s understood to have recruited a handful of senior infrastructure and risk professionals to the new fund, which already has a commitment of $1bn in assets under management and is expected to add a further $400m early next year.
Bitcoin Finds Its Way Into $45 Billion Hedge Fund’s Balance Sheet (ZyCrypto.com)
The list of institutional investors and hedge funds in cryptocurrencies just got a new addition to it. GoldenTree, a hedge fund with over $45 billion under management, has reportedly added Bitcoin to its balance sheet. It was reported that two anonymous sources with knowledge on the development said the New York-based firm has added Bitcoin to its balance sheet as a “diversifier” to its already diversified debt-focused strategies.
SkyBridge Buys Carbon Offsets to Green Bitcoin Holdings (AP News)
NEW YORK, Aug. 2, 2021 /PRNewswire/ — SkyBridge Capital (“SkyBridge”) has partnered with MOSS Earth to purchase and immediately retire tokens representing approximately 38,436 tons of carbon—a transaction that offsets the estimated historic carbon footprint of the bitcoin currently held across its products firm-wide, including its multi-strategy funds and the First Trust SkyBridge Bitcoin Fund.
Tuttle Capital Management’s Anti-ARK Fund Is Hardly Impressive (Real Money)
It’s interesting to see a fund go out with an anti-ARK fund. Yes, there’s been a filing by Tuttle Capital Management to track the inverse performance of the Ark Innovation ETF (ARKK) . In a market where shorting has been hunted down like wild, rabid animals, some folks have to think this move is crazy. Surely, the Short ARKK ETF (SARK) will be squeezed, but it may not be that simple. SARK will operate via swap contracts, which is the approach used by most inverse funds on the market. That means someone, somewhere will likely be short some of the ARKK holdings. However, it may be spread across many institutions, and in some cases simply be a hedge against an existing long position for them. In short, no pun intended, any “squeeze” will be more psychological than forced as I see it.
Airbnb Alums Raise Early-Stage Venture Capital Fund (The Wall Street Journal)
Former Airbnb Inc. employees have raised an early-stage venture-capital fund from backers with ties to the home-sharing company and several outside investors. New venture firm AirAngels is deploying a $20 million pool whose investors include Airbnb co-founders Joe Gebbia and Nathan Blecharczyk, venture-capital firms, and individuals such as hedge-fund billionaire William Ackman, according to AirAngels co-founder Daniel Rumennik, a former Airbnb employee. Airbnb itself isn’t an investor.
Quant Hedge Funds Tipped to Flourish with Institutional Inflows Set to Rise (Hedge Week)
Pension funds and institutional investors are set to increase their allocations to computer-based hedge funds over the next 12 months, with FX and equities-focused strategies tipped to see the biggest rise, according to new industry research by fintech and quantitative analysis platform SIGTech. SIGTech’s ‘Hedge Fund Research Report 2021’ polled 100 leading hedge fund managers across the US, the UK and Asia in June, collectively managing more than USD231 billion in assets. The study found that 80 per cent of those hedge fund managers polled expect institutional investors to up their allocations to quantitative strategies this year, with some 51 per cent expecting a ‘slight’ increase and 29 per cent forecasting a ‘dramatic’ increase.
Hedge Fund Manager Dan Niles Says He’s Buying Chinese Stocks Again After Government Crackdown (CNBC)
Hedge fund manager Dan Niles told CNBC on Friday he started buying a group of Chinese stocks this week, believing the cohort has fallen to attractive levels after a sell-off driven by Beijing’s heightened regulatory scrutiny.
Insider Trading: August 2, 2021 (BIV.com)
Insider: Ashwath Mehra, director. Company: Fancamp Exploration Ltd. (TSX-V:FNC). Shares owned: 28,668,000. Trade date: July 16. Trade total: $866,840. Trade: Acquisition of 6,668,000 shares at a price of $0.13 per share. Insider: Christopher Ross Anderson, 10% Owner. Company: GGX Gold Corp. (TSX-V:GGX). Shares owned: 4,861,000. Trade date: July 16. Trade total: $58,050. Trade: Acquisition of 342,000 shares at a price of $0.15 to $0.19 per share.
Monday 8/2 Insider Buying Report: TNL, HTLD (Nasdaq.com)
On Friday, Travel + Leisure’s Michael Dean Brown, made a $52,099 buy of TNL, purchasing 1,000 shares at a cost of $52.10 a piece. So far Brown is in the green, up about 3.5% on their buy based on today’s trading high of $53.92. Travel + Leisure Co is trading up about 1.9% on the day Monday. This buy marks the first one filed by Brown in the past twelve months. And at Heartland Express, there was insider buying on Thursday, by Director Michael John Sullivan who bought 1,000 shares at a cost of $16.93 each, for a total investment of $16,928. Before this latest buy, Sullivan bought HTLD at 3 other times during the past year, for a total cost of $45,585 at an average of $18.23 per share. Heartland Express, is trading up about 1.6% on the day Monday. Sullivan was up about 2.6% on the buy at the high point of today’s trading session, with HTLD trading as high as $17.36 in trading on Monday.
Last Week’s Notable Insider Buys: Beacon Roofing Supply, Cricut, Crown Castle And More (Benzinga)
Cricut: A beneficial owner has built a more than 25% stake in Cricut Inc (CRCT), a crafting technologies company. About 804,100 shares were indirectly added in the past week at prices ranging from $32.77 to $34.98 apiece, costing the owner around $27.16 million. Note that the owner has been buying shares since late May. Beacon Roofing Supply: Late last week, a beneficial owner of Beacon Roofing Supply, Inc. (BECN) added to its stake ahead of the upcoming earnings report. At about $55.53 apiece, the more than 108,000 shares indirectly purchased totaled nearly $6 million. This purchase increased the owner’s stake to more than 14.42 million shares. The company’s float is about 55.10 million shares.
The Executive VP of Rite Aid (NYSE: RAD) is Selling Shares (Analyst Ratings)
Yesterday, the Executive VP of Rite Aid (RAD), Konrad Jocelyn, sold shares of RAD for $437.4K. Based on Rite Aid’s latest earnings report for the quarter ending May 31, the company posted quarterly revenue of $6.16 billion and GAAP net loss of -$13,057,000. In comparison, last year the company earned revenue of $6.03 billion and had a GAAP net loss of $63.54 million.
