Meet the Mets: The Most Interesting Team in Baseball (The Wall Street Journal)
Sandy Alderson stepped in as general manager of the New York Mets at one of the bleakest points in the history of a franchise filled with disappointments: the revelation that Bernie Madoff’s fraud had ravaged the personal finances of the team’s owners, the Wilpon family. The Wilpons don’t own the Mets anymore. Hedge-fund manager Steve Cohen does, and his net worth of more than $14 billion immediately transforms the Mets into the most fascinating team in the sport. While the rest of the industry retrenches in the wake of significant losses caused by the coronavirus pandemic, the Mets have brought Alderson back as team president and appear ready to act aggressively.
Investor That Retired at 36 Puts 75% of Assets in Bitcoin (Decrypt.co)
Former hedge fund manager Raoul Pal has invested heavily in Bitcoin and Ethereum, according to a tweet sent today. Pal is a former Goldman Sachs trader who retired from a successful hedge fund management career at the young age of 36. Since then, he co-founded Real Vision to democratize access to financial information. With over 10,000 subscribers and 100 countries, Pal’s opinions command a lot of attention and, with that thriving platform, he has made quite the statement by investing 75% of his liquid assets in Bitcoin.
Hedge Fund Guggenheim Planning $500 Million Bitcoin Investment (Inside Bitcoins)
Guggenheim, a hedge fund with over $275 billion is planning to invest $500 million in Bitcoin investments. The fund filed a note with the Securities and Exchange Commission (SEC) on Friday and said that will reserve the right to put 10% of its funds in Bitcoin via Grayscale. Multi-million-dollar investments in Bitcoin: Global investment firm Guggenheim Partners will be investing 10% of its net asset value for the $5.3 billion Macro Opportunities Fund using the Grayscale Bitcoin Trust. The firm made a filing with the SEC on Friday, informing the regulator of its decision. The note said, “The Guggenheim Macro Opportunities Fund may seek investment exposure to bitcoin indirectly through investing up to 10% of its net asset value in Grayscale Bitcoin Trust (“GBTC”), a privately offered investment vehicle that invests in Bitcoin.”
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Hungarian Official Retracts Comparing George Soros to Hitler (Associated Press)
BUDAPEST, Hungary (AP) – After facing strong condemnation, a Hungarian commissioner on Sunday begrudgingly retracted an article comparing American-Hungarian billionaire and philanthropist George Soros, a staunch critic of Hungary’s government, to Adolf Hitler and the Nazis. “Europe is George Soros’ gas chamber,” Szilard Demeter, ministerial commissioner and head of the Petofi Literary Museum in Budapest, wrote in an opinion Saturday in the pro-government Origo media outlet. “Poison gas flows from the capsule of a multicultural open society, which is deadly to the European way of life.”
Union Bancaire Privée Partners with Fasanara Capital to Launch European Fintech Factoring Fund (Hedge Week)
Union Bancaire Privée (UBP) has signed an exclusive partnership with fintech-driven alternative credit investment manager Fasanara Capital (Fasanara) to launched the Trade and Receivable Finance Fund, a real-economy impact investment solution. The fund aims to deliver absolute returns with very low volatility and correlation to markets in an open-ended, income-distributing alternative fund format. It seeks to achieve its objective by investing primarily in short-term, investment-grade, corporate trade receivables and digital invoices bought from SMEs from around the globe with a core emphasis on Europe.
Opportunities Today in Middle Market Lending (Preqin)
Private credit has long been an attractive investment. Historically stable performance and broader knowledge of the asset class have driven an increasing amount of capital into the space. This paper from Nuveen assesses the opportunities for private credit in today’s investment environment and considers a number of factors in determining how to incorporate these investments into an existing asset allocation strategy.
“We Go Where the Ideas Are”: Emerging Market Hedge Fund Pembroke Gathers Pace with Fundamental Focus (Hedge Week)
Since launching in early 2018, Pembroke Emerging Markets – a London-based global long/short equity hedge fund led by former Goldman Sachs trader Sanjiv Bhatia – has capitalised on demographic shifts in emerging economies with a fundamental, bottom-up stock-picking style which uses convexity plays to boost alpha generation. Finding “good companies to go long on, and bad companies to short” is how CIO and founder Bhatia summarises the firm’s trading approach. “That’s the core essence of what we’re trying to do; understanding the business model and understanding why a company can generate alpha for the portfolio,” Bhatia tells Hedgeweek.
Broadcom Inc (AVGO) President and CEO Hock E Tan Sold $30.5 million of Shares (Guru Focus)
President and CEO of Broadcom Inc., Hock E Tan, sold 78,125 shares of AVGO on 11/24/2020 at an average price of $390.2 a share. The total sale was $30.5 million. Broadcom Inc is engaged in designing, developing and supplying analog and digital semiconductor connectivity solutions. Its product portfolio serves wired infrastructure, wireless communications, enterprise storage and industrial and other end markets. Broadcom Inc has a market cap of $159.76 billion; its shares were traded at around $394.95 with a P/E ratio of 73.93 and P/S ratio of 7.11.
Insider Trading: November 30, 2020 (BIV.com)
Insider Wilhelm K. T. Zours, 10% owner. Company: Skeena Resources Ltd. (TSX:SKE). Shares owned: 14,901,081. Trade date: Nov 19, 23, 24. Trade total: $954,992. Trade: Acquisition of 413,200 shares at prices from $2.26 to $2.40 per share. Insider Jerry Kroll, director. Company: Electrameccanica Vehicles Corp. (Nasdaq:SOLO). Shares owned: 3,948,403. Trade date: Nov 19, 20. Trade total: US$799,344. Trade: Sale of 93,600 shares at a price of US$8.26 to US$8.82 per share.
A Director at Sysco (NYSE: SYY) is Selling Shares (Analyst Ratings)
Yesterday, a Director at Sysco (SYY), Nelson Peltz, sold shares of SYY for $88.87M. Following Nelson Peltz’s last SYY Sell transaction on May 19, 2020, the stock climbed by 20.7%. In addition to Nelson Peltz, one other SYY executive reported Sell trades in the last month. The company has a one-year high of $85.98 and a one-year low of $26.00. Currently, Sysco has an average volume of 865.31K. SYY’s market cap is $36.51 billion and the company has a P/E ratio of -1433.60.
Planet Fitness Inc (PLNT) CEO Christopher Rondeau Sold $6.8 million of Shares (Guru Focus)
CEO of Planet Fitness Inc, Christopher Rondeau, sold 89,890 shares of PLNT on 11/24/2020 at an average price of $75.17 a share. The total sale was $6.8 million. Planet Fitness Inc is a franchisor and operator of fitness centers in the United States. It has approximately more than 8.7 million members and more than 1,200 stores in 47 states, the District of Columbia, Puerto Rico, Canada and the Dominican Republic.
