Hedge Fund and Insider Trading News: Ray Dalio, Nelson Peltz, Weight Watchers International, Inc. (WTW), Xeris Pharmaceuticals Inc (XERS), Carolina Financial Corporation (CARO), and More

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‘Pain + Reflection = Progress’: Here are 13 Brilliant Quotes from Hedge-fund Legend Ray Dalio (Business Insider)
Hedge fund legend Ray Dalio, who runs Bridgewater Associates, is widely considered to be one of the most successful hedge fund managers in the world. Dalio has $18.4 billion in net worth, the second richest hedge-fund manager globally, just behind Jim Simons, a quant guru who founded Renaissance Technologies. He says his investment philosophy is to bet against the consensus and make sure he is right.

Hedge Fund Investing $100 million in Harvard Drug Research (StatNews)
Researchers at Harvard University who want to take drug discoveries from the lab to the market may soon get an infusion of cash. The university plans to announce a partnership Wednesday with Deerfield Management, a health care hedge fund firm that has pledged $100 million to invest in promising potential drugs.

Covalis Capital's Returns, AUM and Holdings


Hedge Fund CEO Manuel Henriquez Steps Down Amid College Admissions Scandal (CBS)
PALO ALTO (CBS SF / AP) — The head of a Silicon Valley hedge fund who became ensnared in a massive college bribery scandal is stepping down. Manuel Henriquez, who was also the top executive investment giant PIMCO until 2016, will be replaced as CEO and chairman of Hercules Capital in Palo Alto. Henriquez was arrested in New York City and released on $500,000 bail after a brief appearance in Manhattan federal court Tuesday.

Wealthy CEOs and Hedge-fund Managers are Flocking to Miami for the Tax Breaks, and It’s Creating Massive Waiting Lists at the Area’s Elite Private Schools (Business Insider)
Wealthy CEOs and hedge-fund managers are flocking to Miami for the tax breaks, and it’s creating massive waiting lists at the area’s most elite private schools. These “tax refugees” are Wall Street hedge-fund managers, tech moguls, and other high earners from places like New York City, New Jersey, Connecticut, Chicago, and Silicon Valley, and they’re fleeing the effects of tax reform that went into effect in January 2018.

Cannabis Maker Aurora Picks Billionaire Investor Peltz as Adviser (Reuters)
(Reuters) – Canada’s Aurora Cannabis Inc on Wednesday tapped billionaire Nelson Peltz as a strategic adviser, betting on the consumer industry-focused veteran to help the recreational marijuana maker chart its expansion into new markets. Shares of the company jumped 10 percent after it offered Peltz the role and an option to buy nearly 20 million shares at C$10.34 a share, a small discount on the stock’s close of C$10.64 on Tuesday. This equates to a nearly 2 percent stake in the company, which would be vested every quarter over a four-year period, Aurora said.

Glass-Half-Full Hedge Funds May Get Doused (Bloomberg)
Fund managers appear to be betting that the long economic recovery and bull market will continue to age well. That wager, though, might be past its time. In Bank of America Merrill Lynch’s latest survey of active stock managers, which came out late Monday, strategists at the firm found that professional investors had upped their exposure to cyclical stocks to the highest level in four months as of the end of February. That was a quick turnaround from late last year, when enthusiasm for the sector was dropping. Back in October, fund managers recorded their lowest exposure to internet retailers since Bank of America began asking.

Hedge Funds Up 0.86 per cent in a Calm Month, Says Eurekahedge (HedgeWeek)
The Eurekahedge Hedge Fund Index gained 0.86 per cent in February, supported by the global equity market which continued to rebound over a potential resolution of the US-China trade friction. Hedge fund managers focusing on developed markets and Asia posted gains during the month, while Latin America and Eastern Europe mandates languished into the red. North American fund managers gained 1.46 per cent during the month, while those focusing on Asia ex-Japan generated 2.77 per cent returns. On a year-to-date basis, the two mandates were up 5.01 per cent and 5.32 per cent respectively. The market anticipation over the end of the trade war resulted in a strong boost for the Chinese equity markets, with most of the major Chinese equity indices recording double-digit gains over the month.

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