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.
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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.
Tvede’s Start-Up Gets Dry Powder (Hedge Nordic)
Stockholm (HedgeNordic) – Forecasting start-up Supertrends, which is generating insights for themes-based macro-focused hedge fund Atlas Global Macro, announced the closing of its Series A financing round of 1.5 million Swiss francs, or about €1.4 million, at a pre-money valuation of €6 million. Inspired by his two books on Supertrends, Danish entrepreneur and Atlas Global Macro founder Lars Tvede founded Supertrends in 2019 to “predict what goes on in the world.”
LGT Launches Multi-Alternatives Fund with ILS Component in Australia (Artemis.bm)
LGT Capital Partners (LGT CP), the global alternative investments specialist, is bringing a new multi-strategy alternatives investment fund offering to Australia, with insurance-linked securities (ILS) part of its portfolio. LGT Capital Partners is part of the broader LGT Group that is owned by the Princely House of Liechtenstein and of course has a dedicated ILS specialist investment team in its LGT ILS Partners Ltd. unit.
Friday 7/16 Insider Buying Report: RPHM, CAG (Nasdaq.com)
On Wednesday, Reneo Pharmaceuticals’ Director, Bali Muralidhar, made a $949,756 buy of RPHM, purchasing 111,736 shares at a cost of $8.50 a piece. Muralidhar was up about 9.6% on the buy at the high point of today’s trading session, with RPHM trading as high as $9.32 in trading on Friday. Reneo Pharmaceuticals is trading up about 7.2% on the day Friday. Before this latest buy, Muralidhar bought RPHM on 6 other occasions during the past twelve months, for a total investment of $952,730 at an average of $9.16 per share. And at Conagra Brands, there was insider buying on Thursday, by Director Richard H. Lenny who bought 10,000 shares at a cost of $34.14 each, for a trade totaling $341,400. Before this latest buy, Lenny made one other buy in the past twelve months, purchasing $336,952 shares at a cost of $33.70 each. Conagra Brands is trading up about 0.8% on the day Friday. Lenny was up about 2.8% on the purchase at the high point of today’s trading session, with CAG trading as high as $35.09 in trading on Friday.
Zoom Video Communications Inc (ZM) CEO Eric S. Yuan Sold $36.6 million of Shares (Guru Focus)
CEO of Zoom Video Communications Inc, Eric S. Yuan, sold 96,154 shares of ZM on 07/13/2021 at an average price of $380.14 a share. The total sale was $36.6 million.
Lawmakers Revive Bill to Prevent Corporate Insider Trading (Think Advisor)
Rep. Carolyn B. Maloney, D-N.Y., and Sen. Chris Van Hollen, D-Md., reintroduced Thursday the 8-K Trading Gap Act, legislation to fix a loophole in current law that allows corporate executives to trade on information before it’s disclosed to the public and to their own shareholders. “Corporate executives shouldn’t be allowed to trade on significant information ahead of the public and investors, but that’s exactly what’s happening because of this legal loophole,” Maloney, a senior member of the House Financial Services Committee, said in a statement.
