The Collapse of Archegos Capital Management (The Trade News)
As the fallout of the collapse of Archegos Capital sent shockwaves across the global community, Hayley McDowell examines this tale of winners and losers as questions about the future of prime brokerage are brought to the fore. In March, a drop in the share price of US media group Viacom CBS following a stock sale sparked chaos on Wall Street and one of the most dramatic collapses in the finance world. It’s an intense tale of winners and losers featuring several of the largest investment banks including Credit Suisse, Deutsche Bank, Goldman Sachs, Morgan Stanley, MUFG, Nomura, UBS and Wells Fargo that acted as prime brokers for an ill-fated client.
Unilever Must Look Mighty Tasty to Activist Hedge Funds (Bloomberg)
Hey, activist investors! You have a European target hiding in plain sight. With an underperforming share price and a clear route to creating value, Unilever Plc has all the ingredients for a hedge fund swoop. The European consumer sector has been a fertile hunting ground for activists, with Dan Loeb’s Third Point taking a stake in Nestle SA in 2017 and more recently, Bluebell Capital Partners’ campaign for change at Danone SA. Although Unilever, which reports second-quarter earnings next week, was briefly the subject of a $143 billion approach from the Kraft Heinz Co. in 2017, it hasn’t attracted an agitator. Yet.
$7.5 Billion Hedge Fund Investment Manager Predicts Incoming Bitcoin Supply Shock (Fintech Zoom)
$7.5 Billion Hedge Fund Investment Manager Predicts Incoming Bitcoin Supply Shock. Open a Free Account and Retire with Bitcoin! Easily Buy and Sell Crypto on Bitcoin IRA! Troy Gayeski, co-chief investment officer and senior portfolio manager at SkyBridge Capital, a hedge fund with $7.5 billion in assets under management, has revealed he believes a Bitcoin supply shock may be around the corner.
Hedge Funds Short ESG Market Darling Credito Real (The Wall Street Journal)
Mexico’s largest payroll lender has had a tough year. Wall Street short sellers are betting it’s going to get worse. Credito Real SA B de CV raised money from bond funds and the U.S. government in recent years, using its status as a lender to Mexico’s poor to tap into the booming trend of socially conscious investing. Hedge funds including Millennium Management LLC and Bybrook Capital LLP have questioned the company’s accounting and wagered that prices of its roughly $2 billion of bonds will tumble, according to people familiar with the matter. Millennium and Bybrook declined to comment.
The Hedge Funds Hurt by Talkspace’s Disastrous SPAC Merger (Institutional Investor)
Here’s yet another reminder that life after SPAC merger is not a guaranteed road to riches.Just ask the shareholders of Talkspace, a large online counseling provider.Its stock has been in a freefall since it completed its merger with Hudson Executive Investment Corp., a special-purpose acquisition company, in late June.
Crypto Arbitrage Hedge Fund Argentium Appoints Head of Trading (Hedge Week)
She started her career at BNP in Paris, working in the research and development team on options modeling and trading management software for the Fixed Income desk. She then moved to London where she worked for NatWest, Bankers Trust and then JPMorgan on the Fixed Income swaps desk. In 2000, she transferred to JPMorgan Tokyo where she was responsible for the exotic equity derivatives trading team. More recently, Herman moved with her family to New York where she has been following the macroeconomic environment closely, and actively trading a multi-asset portfolio. Herman is an engineering graduate of Ecole Polytechnique de Paris.