Hedge Fund and Insider Trading News: Warren Buffett, Ken Griffin, Daniel Loeb, Golub Capital BDC Inc (GBDC), Therma Bright Inc (THRBF), and More

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Keeping Investing Fees Low Matters (Dividend Growth Investor)
Warren Buffett is one of the most successful investors in the world. He is the chairman and controlling shareholder of Berkshire Hathaway, which he acquired in 1965. The nice thing about Buffett is that he always treated his investors fairly. As a Chairman and CEO of Berkshire Hathaway he has earned an annual salary of $100,000/year. This is nothing, in comparison to high cost mutual fund managers or high cost hedge fund managers. You could have benefitted from the investment success of Warren Buffett for mere peanuts. The reason perhaps is because he had skin in the game, and the majority of his net worth is tied into the success of Berkshire Hathaway. This aligns Buffett’s interest with the interests of ordinary shareholders.

YouTube Cofounder Steve Chen Launches Hedge Fund That Uses AI To Make Investment Decisions (Forbes)
YouTube cofounder Steve Chen is partnering with veteran money manager Jack Fu to launch a hedge fund that picks stocks and fixed-income assets through the use of artificial intelligence. The Draco Capital Macro Quant Fund has already raised $50 million with a goal of $200 million by the end of 2021, Chen said last week. The fund that debuted in September uses an AI algorithm to gauge which assets are ideal for both bull and bear markets, he says.

Growing Presence at EuroHedge Awards (Hedge Nordic)
Stockholm (HedgeNordic) – The updated list of nominees for the upcoming 2020 EuroHedge Awards features more Nordic names. Fixed-income relative-value fund Frost, which was shortlisted in the “Fixed Income” category in the first round of nominations, will also compete for the main prize in the “New Fund of the Year – Macro, Fixed Income & Relative Value” category. Six additional members of the Nordic Hedge Index joined the initial list of nominees – which initially featured 19 different Nordic names – at the 2020 EuroHedge Awards.

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Dyal Capital and Owl Rock agree $12.5bn SPAC merger and IPO (Opalesque.com)
Neuberger Berman’s Dyal Capital Partners and direct lender Owl Rock Capital have agreed to combine in a complex deal to take them public via a blank cheque vehicle. The two firms will combine with a special purpose acquisition company (SPAC), Altimar Acquisition Corp., to form a publicly traded alternative investment firm, Blue Owl Capital overseeing assets worth $45 billion. Altimar is sponsored by alternative investment firm HPS Investment Partners. The merged company is expected to have a market capitalization of about $12.5 billion and to be listed on the NYSE under the new ticker OWL.

Ken Griffin Sells Miami Beach Penthouses At A Loss (Celebrity Networth)
Hedge fund billionaire and real estate aficionado Ken Griffin is selling two Miami Beach penthouses in the super exclusive Faena House development. He bought the townhouses five years ago and recently sold them at a loss of at least 20%. He sold the larger penthouse for $35 million and the smaller unit is under contract for an undisclosed amount, but was on the market for $12.5 million. Griffin bought the two units for $60 million in 2015. If the smaller unit gets its asking price, the total would be $47.5 million, 20% less than he paid.

Hedge Funds’ £1bn Bet on More Retail Misery (The Times)
Hedge funds have placed a £1 billion bet that there is more trouble in store for the nation’s retailers, despite 2020 having been the most miserable year for the British high street since the financial crisis more than a decade ago. While non-essential retailers have suffered most during the pandemic because of store closures, J Sainsbury is the shopping sector’s biggest target for short-sellers, with 8 per cent of shares in Britain’s second largest supermarket on loan to hedge funds.

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