Crypto Hedge Fund Veteran Mark Yusko Doubles Down on $100,000 Bitcoin Prediction – Here’s the Timeline (The Daily Hodl)
Morgan Creek Digital cryptocurrency hedge fund managing partner Mark Yusko is doubling down on a bullish prediction for Bitcoin (BTC) despite the recent market downturn. In a new interview with YouTuber Benjamin Cowen, Yusko says that Bitcoin will range for months before making a parabolic move to a six-figure price.
Toronto’s Moez Kassam: Building Futures with Homes First (RealtyBizNews.com)
As co-founder and Chief Investment Officer, Moez Kassam has led the Canadian hedge fund, Anson Funds, to deliver some outstanding returns for his investors over the years. The firm has grown to manage $1.4 billion in assets and span a range of investment strategies. But Moez Kassam’s influence has not been limited to the financial realm. He is also known for his active involvement in various charities such as Homes First Canada, an organization that provides housing to those in need.
The New York hedge fund hiring wildly from Goldman, JPMorgan (eFinancialCareers.com)
As the hedge fund industry increasingly pivots towards multi-strategy hedge funds, Citadel, Millennium, and Balyasny aren’t the only ones recruiting. Verition Fund Management, a New York hedge fund founded in 2008 by Nick Maounis and Josh Goldstein with $6.1bn in assets under management, was spied adding huge amounts of staff during the pandemic by Bloomberg earlier this year. That trend has continued.
Global Macro Hedge Fund Trident Positioned to Profit from Flattening Yield Curve (Opalesque.com)
Macro strategies extended strong YTD performance in October as equities reversed intra-month declines, while the US Federal Reserve prepared to raise interest rates to slow generational inflation, with performance led by multi-strategy and commodity-focused exposures. The investable HFRI 500 Macro Index gained 1.4% for the month, extending YTD performance to 18%. At BarclayHedge, the minority of profitable sectors were championed by the Global Macro Index which was up 7% YTD through October and outperforming the broad Barclay Hedge Fund Index (-9% YTD).
Hedge Fund Millennium Management Takes Large Position in EHTH / eHealth (Nasdaq.com)
Fintel reports that Millennium Management LLC has filed a 13G form with the SEC disclosing ownership of 1,468,152 shares of eHealth, Inc. (EHTH). This represents 5.4% of the company. eHealth, Inc. operates a leading health insurance marketplace at eHealth.com and eHealthMedicare.com with technology that provides consumers with health insurance enrollment solutions. Since 1997, eHealth has connected more than 8 million members with quality, affordable health insurance, Medicare options, and ancillary plans.
Binance CEO CZ Calls SBF a ‘Psychopath,’ 3AC Co-Founder Accuses FTX, Alameda of Stop Hunting His Hedge Fund (Bitcoin.com)
During a conversation with Binance CEO Changpeng Zhao (CZ) and the Milken Institute, the exchange executive called the former FTX CEO Sam Bankman-Fried (SBF) a “psychopath” for one of the tweets SBF wrote last week. CZ’s statements further follow the accusations stemming from Three Arrows Capital (3AC) co-founder Kyle Davies. The 3AC co-founder claimed that both FTX and Alameda Research “colluded to trade against clients.”
OQAM Chooses New Roadmap (Hedge Nordic)
Stockholm (HedgeNordic) – Despite delivering on its promise of preserving capital in this year’s market environment, Malmö-based OQAM has closed down its multi-strategy systematic hedge fund ia. Instead, OQAM will open up its innovation engine by offering individual strategies to other financial institutions and professional investors either through discretionary mandates or fund structures.
SS&C GlobeOp Hedge Fund Performance Index and Capital Movement Index (PRNewswire)
SS&C Technologies Holdings, Inc. (Nasdaq: SSNC) today announced the gross return of the SS&C GlobeOp Hedge Fund Performance Index for October 2022 measured -0.96%. Hedge fund flows as measured by the SS&C GlobeOp Capital Movement Index advanced 0.13% in November. “SS&C GlobeOp’s Capital Movement Index was up 0.13% for November 2022, showing stabilization after outflows in October. However, the 12-month average has been up 0.07%, demonstrating the broad stagnation of flows which characterizes 2022,” said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. “In the face of historical weakness across asset classes, hedge funds have generally been a steady port in the financial storm created by inflation and higher interest rates. The last two months of the year are historically strong seasonally, and this month’s stabilization could be a positive sign for short-term flows.”
Thursday 11/17 Insider Buying Report: ALIT, BHG (Nasdaq.com)
At Alight (ALIT), a filing with the SEC revealed that on Monday, Director Richard N. Massey bought 100,000 shares of ALIT, at a cost of $8.40 each, for a total investment of $840,500. Massey was up about 4.3% on the purchase at the high point of today’s trading session, with ALIT trading as high as $8.77 in trading on Thursday. Alight is trading up about 1.9% on the day Thursday. Before this latest buy, Massey bought ALIT at 3 other times during the past twelve months, for a total cost of $865,078 at an average of $9.61 per share. And also on Monday, Director Manuel Kadre purchased $291,175 worth of Bright Health Group (BHG), purchasing 303,307 shares at a cost of $0.96 each. Before this latest buy, Kadre bought BHG at 3 other times during the past year, for a total investment of $1.60M at an average of $2.30 per share. Bright Health Group is trading off about 0.2% on the day Thursday.
JPMorgan Chase, Bristol-Myers Squibb And 3 Other Stocks Insiders Are Selling (Benzinga)
Bristol-Myers Squibb: The Trade: Bristol-Myers Squibb Company (BMY) EVP, Chief Human Resources Ann Powell sold a total of 16,250 shares at an average price of $80.45. The insider received around $1.31 million from selling those shares. Crocs: The Trade: Crocs, Inc. (CROX) President Michelle Poole sold a total of 10,507 shares at an average price of $ $89.04. The insider received around $935.55 thousand as a result of the transaction.
