Norway’s Sovereign Hedge Fund Prepares to Flex Its Muscles (Bloomberg)
What happens when a hedge fund star takes charge of the world’s biggest sovereign wealth fund, with $1.3 trillion to play with? The fund starts to act a little less like a massive index tracker, and a little more like an adventurous hedge fund. So far, the shifts are subtle. But how much risk could wind up being too much for the owner of about 1.5% of the world’s equities? Norway’s sovereign fund, whose proper title is Norges Bank Investment Management, has just released its Strategy Plan for 2021-2022. Naturally the fingerprints of Nicolai Tangen, who took over as chief executive officer in September after a successful career running Ako Capital LLP, are all over it.
Hedge Funder Flips Miami Beach Teardown to Tommy Mottola and Thalía (The Real Deal)
A hedge fund manager’s investment in a La Gorce Island teardown in Miami Beach appears to have paid off. Adam Wyden, who heads his investment firm ADW Capital, and his wife Allison, sold their home at 31 La Gorce Circle for $5.5 million to music executive Tommy Mottola and his wife, Mexican singer and actress Thalía, The Real Deal has learned. The Wydens bought the house in December for $4.2 million.
Toshiba Faces Investor Call to Seek Alternatives to CVC Bid (Reuters)
TOKYO (Reuters) – Toshiba Corp is facing a call from a leading shareholder to seek other offers from potential suitors following a $20 billion buyout bid from private equity firm CVC Capital Partners, according to a statement. U.S. hedge fund Farallon Capital Management said the Japanese conglomerate should evaluate “the privatisation proposal in a sincere manner through a fair process that includes a proactive market check and formation of an independent special committee,” according to the statement.
Google Accused of Insider Trading Over Secret Digital Ads Programme (CityA.M.)
Google has been accused of insider trading in the digital advertising market through its use of a secret programme that allegedly gave it an unfair advantage over rivals. Court documents filed in a Texas lawsuit state the scheme, dubbed Project Bernanke, used access to data about past bids in Google’s advertising exchange to give it the upper hand on competitors. Lawyers allege that this amounted to anti-competitive behaviour and insider trading in the digital ads market.
Insider Trading: April 12, 2021 (BIV.com)
Insider Geoffrey Lawson Scott, director. Company: Glacier Media Inc. (TSX:GVC). Shares owned: 2,455,900. Trade date: March 31. Trade total: $820,000. Trade: Acquisition of 2,000,000 shares at a price of $0.41 per share. Insider Derek Jason Elder, director. Company: Vecima Networks Inc. (TSX:VCM). Shares owned: 50,000. Trade date: March 26. Trade total: $712,500. Trade: Acquisition of 50,000 shares at a price of $14.25 per share.
Monday 4/12 Insider Buying Report: CRSR, MACK (Nasdaq.com)
On Friday, Corsair Gaming’s Director, Randall J. Weisenburger, made a $999,991 buy of CRSR, purchasing 58,823 shares at a cost of $17.00 a piece. Weisenburger was up about 100.4% on the purchase at the high point of today’s trading session, with CRSR trading as high as $34.06 at last check today. Corsair Gaming is trading down about 0.1% on the day Monday. And on Wednesday, See Remarks Gary L. Crocker purchased $13,166 worth of Merrimack Pharmaceuticals, purchasing 2,127 shares at a cost of $6.19 each. Before this latest buy, Crocker made one other purchase in the past year, buying $33,956 shares for a cost of $6.79 a piece. Merrimack Pharmaceuticals is trading down about 2.1% on the day Monday.
Moderna Inc (MRNA) CEO Stephane Bancel Sold $2.5 million of Shares (Guru Focus)
CEO of Moderna Inc, Stephane Bancel, sold 19,000 shares of MRNA on 04/08/2021 at an average price of $132.27 a share. The total sale was $2.5 million. Moderna Inc has a market cap of $56.44 billion; its shares were traded at around $140.920000 with and P/S ratio of 69.24.
An Insider at Artis Real Estate Investment (Other OTC: ARESF) is Buying Shares (Analyst Ratings)
Today, an Insider at Artis Real Estate Investment (ARESF), Navdeep Kaur Gill, bought shares of ARESF for $3.67M. In addition to Navdeep Kaur Gill, 22 other ARESF executives reported Buy trades in the last month. Following this transaction Navdeep Kaur Gill’s holding in the company was increased by 6% to a total of $51.9 million.
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