Opalesque Roundup: Top 100 Hedge Fund Firms Manage Hedge Fund AuM Totalling $1.8bn: Hedge Fund News, Week 32 (Opalesque)
In the week ending August 13th 2021, a report by HFM revealed that the top 100 hedge fund firms managed hedge fund AuM totalling $1,825bn on 1 January 2021, up from $1,740bn on 1 January 2020, growth of 5% during a year that featured some of the most challenging periods for trading and capital raising in the past decade. The global hedge fund business’ average return dipped negative in July, but just slightly, to -0.32, according to the just-released eVestment July 2021 hedge fund performance data. This marked the first month of industry-wide average negative returns in 2021. Just over 51% of funds reporting to eVestment were in positive territory for the month, however, and year to date (YTD) industry performance is still in the green at +8.89%.
Why Warren Buffett Is A Model For His Billionaire Peers (TechFinancials.co.za)
Warren Buffett, who turns 91 on Aug. 30, 2021, is a billionaire at a time when outrage over the excesses of extreme wealth is growing in tandem with billionaires’ fortunes. But based on what I learned about him while becoming a scholar of finance and a portfolio manager, I see Buffett as a model for his ultrarich peers.
Jim Simons’ RenTech Fund Tripled its AMC Stake Last Quarter – and Slashed its Tesla Holdings by 75% (Business Insider)
Renaissance Technologies, one of the biggest and best-performing hedge funds in history, more than tripled its stake in AMC Entertainment and slashed its Tesla holdings by 75% in the second quarter. RenTech, founded by the former NSA codebreaker and MIT math professor Jim Simons, held about 516,000 AMC shares at the end of March this year. It raised its bet on the cinema chain – a firm favorite of meme-stock traders – to 1.8 million shares last quarter, regulatory filings show.
Insider Trading: August 16, 2021 (BIV.com)
Insider Jerry Kroll, Director. Company: Electrameccanica Vehicles Corp. (Nasdaq:SOLO). Shares owned: 1,909,310. Trade date: July 30. Trade total: US$151,071. Trade: Sale of 41,848 shares at a price of US$3.61 per share. Insider Douglas Silver, director. Company: Chakana Copper Corp. (TSX-V:PERU). Shares owned: 95,000. Trade date: August 3. Trade total: US$15,300. Trade: Acquisition of 45,000 shares at a price of US$0.34 per share.
The Chief Product Officer of Open Text (NASDAQ: OTEX) is Selling Shares (Analyst Ratings)
Yesterday, the Chief Product Officer of Open Text (OTEX), Muhieddine Majzoub, sold shares of OTEX for $1.36M. In addition to Muhieddine Majzoub, 11 other OTEX executives reported Sell trades in the last month. Based on Open Text’s latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $894 million and quarterly net profit of $181 million.
The Past Week’s Notable Insider Buys: ConocoPhillips, Cricut, Energy Transfer And More (Benzinga)
In the latest of a number of purchases stretching back to late May, a Cricut Inc CRCT) 10% owner picked up over 1.70 million more shares at prices ranging from $25.00 to $34.60 apiece. These latest purchases added up to over $48.06 million. Note that the stock was trading at less than $28 when that owner began buying the shares, and it has been as high as $47.36 since its initial public offering. The Energy Transfer LP (ET) chief executive, Kelcy Warren, purchased about 3 million shares, and the chief financial officer also picked up 5,000 shares last week. At $9.04 to $9.49 apiece, the cost for those shares totaled around $19.08 million. Note that the stock closed the week trading at $9.51 per share.
