Top Hedge Fund Manager’s Revealing Novel (eFinancialCareers.com)
If you know anything about global macro hedge funds, you probably know the name Colin Lancaster. He’s not George Soros and he’s not Alan Howard, but Lancaster has had a long and storied career in global macro, spending two years as head of macro strategies at Citadel and seven years as head of macro strategies at Balyasny. More recently, he’s launched a fund at Matador Investment Management, but prior to that he had a year’s gardening leave – and during that interlude he appears to have written a novel.
A Young Star Manager from Viking Global has Left the $44 Billion Hedge Fund (Business Insider)
A young star has left Ole Andreas Halvorsen‘s $44 billion Viking Global. Divya Nettimi, who has worked for Viking since 2014 as an analyst and a portfolio manager, is no longer at the firm, according to sources. She joined the billionaire Halvorsen’s firm after getting her MBA from Harvard and four-year stint at Goldman Sachs, respectively, according to her LinkedIn.
‘Please Buy This Newspaper’: NY Daily News BEGS for Savior From ‘Notorious Hedge Fund’ in Op-Ed (MediaITE)
The New York Daily News is on the verge of being acquired by a hedge fund. On Wednesday, the paper published a stunning op-ed from one of its veteran reporters begging for someone to stop it. In a shocking column, Larry McShane — a reporter who has been with the paper for 14 years — warned about the ramifications of the News’ pending acquisition by hedge fund Alden Global Capital. Calling the paper’s outlook under Alden “dire,” McShane pleaded for a local buyer to step up.
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Bridgewater, Lighthouse, AQR Capital, Renaissance Technologies Among Tops for Alternatives/Hedge Fund Brand Awareness (Opalesque)
Opalesque Industry Update – Bridgewater Associates, Lighthouse Investment Partners, UBS Asset Management, GAM Investments and Water Island Capital took the top five spots, in that order, in brand awareness in the Alternatives & Hedge Fund category among investment consultants using eVestment, according to the just-released Brand Awareness Rankings from eVestment. AQR Capital Management, Bridgewater Associates, Renaissance Technologies, Lighthouse Investment Partners and FORT took the top five spots in the Alternatives & Hedge Fund category among the institutional investors using eVestment, according to the new report.
Paul Singer Swears He’s Definitely Not Thinking About Deposing Jack Dorsey With These 3.5 Million New Shares He Just Bought (Deal Breaker)
About 15 months ago, Paul Singer wanted Jack Dorsey’s head on a plate, wherever in the world it was. Since agreeing to hold off the decapitation for at least the time being, in exchange for two seats on the board and a $2 billion share buyback, Dorsey – who Singer wanted canned in favor of a full-time CEO – has started a bank and brought more unwanted attention onto himself and the company, and Twitter – and with it, its share price – has continued to struggle. So, sure, you could read Singer’s Elliott Management buying in to the dip, to the tune of $200 million and counting, as a vote of confidence, and certainly, someone somewhere wants you to do just that.
Archegos Collapse Shows What can Happen When Leverage is Misapplied (Hedge Week)
Now that the considerable cloud of dust has settled following the collapse of Bill Hwang’s family office, Archegos Capital Management, one is able to assess the damage inflicted. The most significant loss was that felt by Archegos, which allegedly had USD20 billion in liquid assets. But with Nomura reporting losses of USD2.9 billion last week, the true extent of bank losses has exceeded USD10 billion, with Credit Suisse taking a USD5 billion (approx.) hit to its balance sheet.
Pershing Square Tontine Holdings Still Has Too Many Headwinds to Be Worthwhile Now (Investorplace)
If he can pull it off, successfully bringing a company to market through his Pershing Square Tontine Holdings (NYSE:PSTH) special purpose acquisition company (SPAC) might be hedge fund manager Bill Ackman’s greatest accomplishment yet. Whether PSTH is worth your money right now is a different story altogether. In 2020, Ackman delivered a 70% return to investors in his hedge fund, far better than the 16% return provided by the S&P 500 index last year.
How this Brevan Howard-backed Asset Manager is Trying to Tackle Crypto’s Carbon Emission Problem with Help from Ex-SEC chairman Clayton (Business Insider)
As interest in cryptocurrency has surged, so, too, has its associated energy use. Bitcoin, which consumes more energy than Argentina, now uses 80% more energy than it did at the start of 2020, a Cambridge study found. Asset managers are scrambling to reconcile investor appetite for crypto and sustainability, two trends that are at odds because of the environmental harm associated with mining cryptocurrency. One River Asset Management, a $2.5 billion hedge fund backed by Brevan Howard, believes it has found a way to bridge the gap.
Alternatives Managers Deliver Q1 Records (Preqin)
Dating apps, SPACs, and accounting shine as the big four release Q1 results. The biggest alternative asset fund managers had a record first quarter, with net income attributable to shareholders at the big four – Blackstone, KKR, Apollo, and Carlyle – reversed from a combined loss of $6.8bn in Q1 2020 to a gain of $7.4bn for Q1 2021. Performance was boosted by a strong fundraising market for managers with established relationships, healthy realizations (particularly from tech investments) and increased valuations of unrealized investments.
Wednesday 5/5 Insider Buying Report: APH, MASI (Nasdaq.com)
At Amphenol, a filing with the SEC revealed that on Tuesday, Director Robert Livingston purchased 20,000 shares of APH, for a cost of $65.92 each, for a total investment of $1.32M. So far Livingston is in the green, up about 2.0% on their purchase based on today’s trading high of $67.24. Amphenol is trading up about 0.6% on the day Wednesday. This buy marks the first one filed by Livingston in the past twelve months. And at Masimo, there was insider buying on Monday, by EVP, GEN COUNSEL & CORP SEC Thomas Samuel McClenahan who bought 1,000 shares for a cost of $231.62 each, for a total investment of $231,620. This buy marks the first one filed by McClenahan in the past twelve months. Masimo Corp. is trading off about 0.7% on the day Wednesday. Bargain hunters are able to snag MASI even cheaper than McClenahan did, with the stock trading as low as $221.94 at last check today — that’s 4.2% below McClenahan’s purchase price.
A Director at Conagra Brands (NYSE: CAG) is Selling Shares (Analyst Ratings)
Yesterday, a Director at Conagra Brands (CAG), Thomas K. Brown, sold shares of CAG for $412.9K. Following Thomas K. Brown’s last CAG Sell transaction on April 10, 2020, the stock climbed by 6.2%. In addition to Thomas K. Brown, one other CAG executive reported Sell trades in the last month. Based on Conagra Brands’ latest earnings report for the quarter ending February 28, the company posted quarterly revenue of $2.77 billion and quarterly net profit of $281 million.
Snap-on Inc (SNA) Chairman, President and CEO Nicholas T Pinchuk Sold $5.8 million of Shares (Guru Focus)
Chairman, President and CEO of Snap-on Inc, Nicholas T Pinchuk, sold 24,507 shares of SNA on 05/03/2021 at an average price of $238.12 a share. The total sale was $5.8 million.
