Dalio Calls for Bipartisan Solution to Post-Pandemic Recovery (Bloomberg)
Bridgewater Associates founder Ray Dalio called for a bipartisan solution to reviving the post-pandemic economy. The U.S. needed an ambitious plan similar to the Manhattan Project during World War II, which included cooperation among a number of countries, according to the billionaire. It would need a solution where “leadership from the top appoints a bipartisan group of people who are also skilled to engineer an encompassing plan that is acceptable broadly,” Dalio said at the World Economic Forum’s virtual Davos Agenda conference. “So it has to be over encompassing and it has to be like a Manhattan Project.”
Singer Says Long-Term Bonds Are A ‘Senseless’ Speculative Trade (FA.Mag.com)
Billionaire Paul Singer has a warning for his fellow investors: 1970s-style inflation can happen again, and almost nobody is ready for it. The hedge fund manager — a frequent critic of U.S. monetary policy — said in an interview on Grant Williams’s podcast that the combination of “trillions and trillions” of dollars in Covid-19 relief spending, wage pressures and rock-bottom interest rates has the potential to shock markets. The interview was taped last week and published Friday. “There’s a really good chance of a tremendous surprise, and a surprise in the relatively near future,” said Singer, speaking on the likelihood of consumer prices spiking higher. “Bonds could have a very significant and abrupt and intense price readjustment.”
Einhorn Bullish on fuboTV as Sports Fandom, Betting Become Interactive (Casino.org)
On news that David Einhorn’s Greenlight Capital was an early investor in the company and maintains a stake, fuboTV stock surged last Thursday and followed that up by jumping 6.25 percent the next day on volume that was more than double the daily average. Watching sports goes from being a passive experience to a highly engaging, active one,” wrote Einhorn in Greenlights fourth-quarter letter to clients. “Higher engagement leads to higher ad revenues and the ability to make other in-app sales to players.”
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Top-Performing Hedge Funds of 2020 (Live Mint)
Tiger Global Management placed first in a world hedge-fund ranking and quant powerhouse Renaissance Technologies was ousted, another sign that trading conditions favoured human stock-pickers over algorithms. The industry reaped $127 billion last year, with some of the biggest firms dominated by human traders racking up record profits, according to estimates disclosed Monday by LCH Investments, a fund of hedge funds. Chase Coleman’s Tiger Global generated $10.4 billion for clients, after fees, and Izzy Englander’s Millennium Management was a close second, with $10.2 billion.
Årets Hedgefond 2020 (Hedge Nordic)
Stockholm (HedgeNordic) – Multi-strategy hedge fund Nordic Cross Stable Return has been named the “Hedge Fund of the Year 2020” at the annual “Årets Fonder” awards ceremony organized by Swedish fund platform Fondmarknaden.se. With a return of 27.3 percent for 2020, Nordic Cross Stable Return was the best-performing member of the “Multi-Strategy” category within the Nordic Hedge Index last year and among the best-performing Swedish hedge funds.
Breakingviews – Hedge Fund Backers Must Pick Winners Twice Over (Reuters)
NEW YORK (Reuters Breakingviews) – Hedge fund investors may have loved their chosen managers’ performance in 2020. Or they may have hated it. Equity-heavy funds did well overall, with their exposure to buoyant stock markets. But the top 20 fund firms made around half the gains in the entire roughly 8,000-strong industry.
GameStop’s Hedge Fund Fan Turns Less Bullish After Surge (Bloomberg)
The South Korean hedge fund that made a bold bet on GameStop Corp. almost a year ago is turning less bullish on the U.S videogame retailer’s stock following a seemingly endless rally that has wrong-footed many short-sellers. Kim Doo-yong, chief executive officer at Must Asset Management, said the stock’s high volatility and more-than-ten times surge since his last interview with Bloomberg in March 2020 are prompting his less rosy view. The shares have gained 245% so far this year and are up a further 28% in U.S. premarket trading Monday.
Trend-Following Hedge Funds Make a Positive Start to January (Hedge Week)
Managed futures hedge funds have made a positive early start to the year, following a tough 12 months in which volatility spikes and see-saw performances in many assets made it tricky for computer-based strategies to capitalise on market trends. Two out of the three daily CTA indices produced by Société Générale were in the black entering the final week of January. The main SocGen CTA Index, which measures the daily performance of a select pool of 20 of the largest managed futures strategies, has advanced 1.43 per cent since the start of 2021.
Coller Capital Amasses $9bn for the Latest Secondaries Fund (Opalesque.com)
UK-based Coller Capital has raised more than $9 billion for its latest fund that will buy and sell investors’ stakes in private-equity funds. According to a press release from the global investors in the private equity secondary market, the Coller International Partners VIII fund (CIP VIII) makes individual investments of up to $1 billion or more in global secondary transactions. “Advised by a multinational team based in London, New York, and Hong Kong, the fund will target a wide array of secondary transactions, targeting assets and sellers located anywhere in the world,” said the release.
Monday 1/25 Insider Buying Report: TSRI, PSXP (Nasdaq.com)
At TSRI, a filing with the SEC revealed that on Friday, Director Bradley M. Tirpak purchased 7,758 shares of TSRI, for a cost of $6.41 each, for a total investment of $49,758. Tirpak was up about 14.1% on the purchase at the high point of today’s trading session, with TSRI trading as high as $7.32 at last check today. TSR Inc is trading up about 3% on the day Monday. This purchase marks the first one filed by Tirpak in the past year. And on Wednesday, Director Phillip David Bairrington purchased $43,437 worth of Phillips 66 Partners, purchasing 1,445 shares at a cost of $30.06 a piece. Before this latest buy, Bairrington purchased PSXP at 2 other times during the past twelve months, for a total investment of $813,036 at an average of $27.10 per share. Phillips 66 Partners is trading up about 0.7% on the day Monday. Bargain hunters have the opportunity to pick up PSXP even cheaper than Bairrington did, with shares trading as low as $28.56 in trading on Monday — that’s 5.0% under Bairrington’s purchase price.
Zoom Video Communications Inc (ZM) CEO Eric S. Yuan Sold $53.3 million of Shares (Guru Focus)
CEO of Zoom Video Communications Inc, Eric S. Yuan, sold 140,284 shares of ZM on 01/21/2021 at an average price of $379.71 a share. The total sale was $53.3 million. Zoom Video Communications Inc has a market cap of $111.91 billion; its shares were traded at around $383.400000 with a P/E ratio of 268.11 and P/S ratio of 58.22.
The Lead Independent Director of CI Financial (NYSE: CIFAF) is Buying Shares (Analyst Ratings)
Today, the Lead Independent Director of CI Financial (CIFAF), Thomas Pinaud Muir, bought shares of CIFAF for $248K. This recent transaction increases Thomas Pinaud Muir’s holding in the company by 23% to a total of $1.04 million. In addition to Thomas Pinaud Muir, 4 other CIFAF executives reported Buy trades in the last month.
Notable Insider Buys Of The Past Week: Affirm, HEICO, Vector Group, Biotechs And More (Benzinga)
Here are some of the most noteworthy insider purchases that were reported in the past week. Biotech company Aldeyra Therapeutics Inc (NASDAQ: ALDX) saw a 10% owner return and add almost 1.37 million shares to its stake. At a secondary offering price of $9.50 per share, the transaction totaled about $13 million. The stock closed most recently at $12.29 a share, after hitting a 52-week high of $14.62 earlier in the week. It is up about 79% year to date. Cancer-testing products maker OncoCyte Corp (AMEX: OCX) also had a 10% owner increase its stake last week. The more than 1.46 million shares acquired, at an offering price of about $3.42, added up to approximately $5 million. That raised that owner’s stake to more than 16.17 million shares, compared to a total float of more than 57 million. The stock closed most recently at $4.76 per share, which is more than 39% higher than the purchase price.
