Mike Novogratz’s Galaxy Digital Launches 8 Crypto and Blockchain Indexes with Partner Alerian (Business Insider)
Galaxy Digital Holdings, the crypto-focused firm run by billionaire former hedge fund manager Mike Novogratz, has lined up eight blockchain indexes for passive investors. The financial services company’s Galaxy Fund Management arm has joined forces with index provider Alerian and S-Network Global Indexes to create the products, which track the performance of assets ranging from big tech stocks, crypto industry stalwarts and investment vehicles.
Ray Dalio is Wrong About China’s Tech Crackdown, Economist Says (CNBC)
China expert George Magnus disagrees with Bridgewater Associates’ Ray Dalio on Beijing’s tech crackdown. In a LinkedIn post this month, Dalio said investors were misconstruing a clampdown by China on sectors including fintech, online tutoring and food delivery as “anti-capitalist.”
Hedge Fund Short Sellers Rocked by Sainsbury’s Share Price Surge Amid Apollo Takeover Talk (Hedge Week)
Hedge funds betting against Sainsbury’s have been left counting the cost of their negative wagers this week after the FTSE 100-listed supermarket giant saw its share price rocket on the back of fresh takeover rumours. BlackRock Investment Management, Marshall Wace, and the Pelham Long/Short Master Fund are among the high-profile hedge funds positioned short against the UK supermarket giant, according to regulatory disclosures made to the UK Financial Conduct Authority.
Stanley Druckenmiller is Selling These 12 Stocks (FinTechZoom)
Stanley Druckenmiller is Selling These 12 Stocks. In this article, we discuss the 12 stocks Stanley Druckenmiller is selling. If you want to skip our detailed analysis of these stocks, go directly to the Stanley Druckenmiller is Selling These 5 Stocks. Stanley Druckenmiller, the chief of New York-based Duquesne Capital, is a titan of the investing world with an impressive investing history going back over three decades. His hedge fund manages more than $3.4 billions in assets, according to the latest securities filings released at the end of the second quarter of 2021, with the top ten holdings heavily dominated by large technology companies. The top five holdings alone comprise more than 40% of the portfolio. The hedge fund led by Druckenmiller returned 43% in 2020 and was up 17% by May 2021.
Lakemore Partners collects $400m for Aquatine IV Fund (Opalesque)
Lakemore Partners and its group entities, a private credit investment firm primarily investing in control CLO equity, announced it has successfully closed Aquatine IV at $400m as a result of strong investor demand. Aquatine IV is Lakemore’s fourth CLO fund within the Aquatine platform, which invests in control equity positions in U.S. CLOs, and is currently one of the market’s largest dedicated CLO control equity funds, claimed a press release from the private credit investment firm. The Fund’s investors are a diverse group of institutional investors representing private banks, fund of funds, insurance companies, family offices, and high net worth individuals, many of whom have invested in previous Lakemore Aquatine Funds, it said.
The Value of ESG: Why Box-Checking the ‘S’ Isn’t Enough (Preqin)
We asked our network how companies are actively creating more diverse workplaces. With much rhetoric around diversity and inclusion in the alternatives investment industry, managers are showing positive signs of making these efforts official policy. But there’s still room for improvement. Code of conduct policies and formal initiatives around broadening firm diversity are common among mid- to large-sized alternatives managers, while female board representation is less so.
Hedge Funds could be Staging a Comeback as Short Bets Post Best Month Since 2010 (CNBC)
Short selling is booming again after almost being left for dead due to the GameStop mania, reviving hope that hedge funds could turn things around in 2021. Hedge funds’ short book generated in July the best alpha since 2010, and now it’s outperforming the long side of their strategies, according to Morgan Stanley prime brokerage data.
Wolff, Stroll Cleared of Insider Trading Over Aston Shares (Racer)
Mercedes Formula 1 team principal Toto Wolff and Aston Martin Racing owner Lawrence Stroll were looked into regarding suspicions of insider trading but have been cleared without the need for an investigation. Wolff purchased a 0.95% stake in Aston Martin Lagonda — the car brand — from a Stroll-owned company in April 2020, joining Mercedes’ parent company Daimler as a shareholder. A month later, the former head of AMG, Tobias Moers, was appointed as Aston’s chief executive, and then Daimler increased its own stake in Aston Martin from less than 5% to 20% in late October.
Wednesday 8/25 Insider Buying Report: KTB, ONTF (Nasdaq.com)
At Kontoor Brands, a filing with the SEC revealed that on Friday, CEO Scott H. Baxter bought 10,000 shares of KTB, at a cost of $53.24 each, for a total investment of $532,400. Baxter was up about 7.8% on the purchase at the high point of today’s trading session, with KTB trading as high as $57.37 at last check today. Kontoor Brands is trading up about 3.8% on the day Wednesday. This buy marks the first one filed by Baxter in the past twelve months. And at ON24, there was insider buying on Friday, by Barry Zwarenstein who bought 25,000 shares at a cost of $20.45 each, for a total investment of $511,188. This buy marks the first one filed by Zwarenstein in the past year. ON24 is trading trading flat on the day Wednesday. Zwarenstein was up about 9.8% on the purchase at the high point of today’s trading session, with ONTF trading as high as $22.46 in trading on Wednesday.
The EC of TJX Companies (NYSE: TJX) is Selling Shares (Analyst Ratings)
Yesterday, the EC of TJX Companies (TJX), Carol Meyrowitz, sold shares of TJX for $5.37M. Following Carol Meyrowitz’s last TJX Sell transaction on November 23, 2020, the stock climbed by 14.2%. In addition to Carol Meyrowitz, one other TJX executive reported Sell trades in the last month. Based on TJX Companies’ latest earnings report for the quarter ending July 31, the company posted quarterly revenue of $12.08 billion and quarterly net profit of $786 million.
