He Was a Quant at Citadel. Now He Agitates for GameStop Investors (The Wall Street Journal)
Dave Lauer is mobilizing individual investors in favor of a stock-market overhaul. Dave Lauer was once a quant at hedge fund Citadel. Now he is a thorn in the side of Wall Street in a battle over how individual investors’ trades are handled in the U.S. stock market. Mr. Lauer is the co-founder of We the Investors, an advocacy group that draws much of its energy from apes — investors active on social media who tend to favor meme stocks such as GameStop Corp. and AMC Entertainment Holdings Inc.
Point72 Offering $300k Salary to Lure Quant Teacher (Hedge Week)
Steve Cohen’s Point72 has demonstrated the value it places on nurturing the next generation of quant analysts, by offering a bumper $300k salary for a teacher to educate its up and coming graduate trainees, according to a report by eFinancialCareers. The Stamford, Connecticut-based hedge fund firm is looking for an Academy Alternative Data Specialist based in New York within its Investment Professional Development (IPD) team. The salary range for the role is a flat $300k, while the maximum on offer for another vacant Point72 role as a general quantitative researcher is ‘only’ $200k.
Investors Withdraw from Hedge Funds in February (Opalesque)
Opalesque Industry Update – After gulping fresh lungfuls of air in January, many hedge fund managers found themselves pushed underwater again in February by the boots of exiting limited partners. Hedge fund investors extracted -$11.58 billion during the month, causing a -0.23% contraction of industry assets, according to the Barclay Fund Flow Indicator published by Backstop-BarclayHedge. An aggregate -$59.87 billion trading loss in February tamped down total industry assets to $4.99 trillion as the month ended.
Friday 4/28 Insider Buying Report: TCBI, FFIN (Nasdaq.com)
At Texas Capital Bancshares, a filing with the SEC revealed that on Monday, Director Robert W. Stallings purchased 15,000 shares of TCBI, at a cost of $51.44 each, for a total investment of $771,600. Texas Capital Bancshares is trading up about 1.6% on the day Friday. Before this latest buy, Stallings bought TCBI on 6 other occasions during the past twelve months, for a total investment of $3.77M at an average of $56.01 per share. And on Thursday, Director Michael B. Denny purchased $99,750 worth of First Financial Bankshares, purchasing 3,500 shares at a cost of $28.50 a piece. Before this latest buy, Denny purchased FFIN at 5 other times during the past year, for a total investment of $913,633 at an average of $40.11 per share. First Financial Bankshares is trading up about 1.3% on the day Friday. Denny was up about 3.3% on the buy at the high point of today’s trading session, with FFIN trading as high as $29.44 at last check today.
Procter & Gamble, Crocs And These 2 Stocks Insiders Are Selling (Benzinga)
Crocs: The Trade: Crocs, Inc. (CROX) CEO Andrew Rees sold a total of 10,000 shares at an average price of $150.05. The insider received around $1.5 million from selling those shares. Procter & Gamble: The Trade: The Procter & Gamble Company (PG) CEO – Baby, Fem & Family Care Ma. Fatima Francisco sold a total of 8,000 shares at an average price of $156.84. The insider received around $1.25 million from selling those shares.
