New Opportunity for Atlant Opportunity (Hedge Nordic)
Stockholm (HedgeNordic) – Atlant Opportunity, the largest fund under the umbrella of Swedish asset manager Atlant Fonder with about €395 million under management, has been added on the guided fund offering at Folksam Fondförsäkring. Swedish insurer Folksam’s Folksam Fondförsäkring does not have its own funds but offers a guided range of external funds through a fund platform, with all funds in the guided range being sustainable based on Folskam’s own criteria.
Citadel, D.E. Shaw and Sculptor Are Among Bondholder’s in Russia’s Yandex (Bloomberg)
Citadel, D.E. Shaw & Co. and Sculptor Capital Management Inc. are among investors facing a potential default on convertible bonds from Russia’s Yandex NV, according to people familiar with the matter. The Russian tech company’s U.S. shares have been suspended for more than five days, enabling bondholders to ask for repayment in full. The firm has already said it does not have the money to redeem the $1.25 billion bonds, which are meant to be exchangeable for common stock.
Elon Musk Shared Advice for How to Invest During Periods of Inflation — and it Echoes Warren Buffett (CNBC)
When it comes to hedging against inflation, Elon Musk and Warren Buffett have recommended similar strategies. On Sunday, Tesla CEO Musk tweeted that in times of high inflation, it is “generally better to own physical things like a home or stock in companies you think make good products,” rather than keeping your money in cash.
Photo by Austin Distel on Unsplash
Acacia Research Taps Starboard SPAC Executive as M&A Chief (Reuters)
BOSTON (Reuters) – Acquisition platform Acacia Research Corp, backed by activist fund Starboard Value and a recent bidder for retailer Kohl’s Corp, appointed one of the hedge fund’s senior executives on Tuesday to oversee all aspects of its takeover business. The firm, which acquires businesses in sectors including technology, retail, and healthcare, appointed Martin McNulty Jr. as its chief operating officer and head of mergers and acquisitions, Acacia Chief Executive Officer Clifford Press told Reuters.
Hedge Funds Significantly Outperform Broad Markets Through a Bad Start to 2022 (Hedge Week)
The hedge fund industry gave up a bit of ground in February, falling back -1.00 per cent for the month, according to the Barclay Hedge Fund Index compiled by BarclayHedge, a division of Backstop Solutions. For the second consecutive month, hedge funds outperformed the S&P 500 Total Return Index which was down -2.99 per cent in February. So far in 2022, the S&P 500 Total Return Index has shed a total of -8.01 per cent, whereas the hedge fund industry is down less than half as much (-3.55 per cent).
Bridgewater Says Spending on Green Energy Is Less Inflationary (Bloomberg)
Governments should subsidize green technologies and infrastructure to combat climate change, with such investments putting less upward pressure on prices than alternatives including carbon taxes, according to Bridgewater Associates, the world’s largest hedge fund. Tax credits and other fiscal support for things such as renewable power and electric vehicles would be less inflationary than levies that would raise energy prices, Bridgewater said. Carbon taxes also can exacerbate income equality because lower- and middle-income households spend a larger portion of their income on energy, according to the Westport, Connecticut-based firm, which manages $150 billion.
Climate Crisis Remains Investors’ Top ESG Issue in 2022 (Preqin)
Pollution, waste management, and natural disasters prove to be the most enduring ESG concerns as 2022 unfolds. As environmental, social, and governance (ESG) considerations continue to engage alternative investment managers and investors alike, climate change again sits atop investors’ concerns. Following another year of rising global temperatures and increasingly frequent and severe natural disasters, the threat climate change poses to the quality of human life has grown more apparent. However, the specter of stranded or obsolete assets weighs heavy on investors’ minds as regulatory initiatives geared towards sustainability support ESG-minded companies and clean technologies.
Tuesday 3/15 Insider Buying Report: COTY, AMN (Nasdaq.com)
At Coty, a filing with the SEC revealed that on Friday, Chief Executive Officer Sue Nabi bought 304,786 shares of COTY, for a cost of $8.29 each, for a total investment of $2.53M. Coty, is trading up about 5% on the day Tuesday. And at AMN Healthcare Services, there was insider buying on Friday, by CFO/CAO Jeffrey R. Knudson who purchased 5,360 shares at a cost of $93.30 each, for a trade totaling $500,087. This buy marks the first one filed by Knudson in the past twelve months. AMN Healthcare Services is trading up about 4.3% on the day Tuesday. So far Knudson is in the green, up about 7.2% on their buy based on today’s trading high of $100.00.
Executives Buy More Than $1.5B Of 3 Stocks (Benzinga)
Occidental Petroleum: The Trade: Occidental Petroleum Corporation OXY 10% owner Warren E Buffett acquired a total of 27,107,389 shares at an average price of $56.60. To acquire these shares, it cost around $1.53 billion. Berkeley Lights: The Trade: Berkeley Lights, Inc. BLI Director Jessica Hopfield acquired a total of 80,000 shares at an average price of $6.28. To acquire these shares, it cost around $502.4 thousand. ShotSpotter: The Trade: ShotSpotter, Inc. (SSTI) Director Randall Hawks bought a total of 6,695 shares at an average price of $29.82. To acquire these shares, it cost around $199.64 thousand.
Insider Weekends: Harold Hamm Purchases $20 Million Worth Of Continental Resources (Seeking Alpha)
Given the hit to supply from sanctions on Russia, domestic crude producers like Continental Resources and Diamondback Energy are uniquely positioned to benefit from higher WTI crude prices. Harold Hamm purchased $20 million of Continental Resources last week. Other interesting insider purchases last week included independent director Michael Maroone’s purchase of Carvana and President Michael Greenberg’s purchase of Skechers.
