5 things I learnt from the Buffett Partnership Letters (AsiaOne.com)
I revisited some of the annual letters Warren Buffett wrote when he was a fund manager some 50 years ago. Buffett’s teachings then are still relevant today. Many people may not know this. Before Warren Buffett became CEO of Berkshire Hathaway, he was a fund manager. And his track record was, unsurprisingly, phenomenal.
Hedge Funds Bet Against Recovery on High Street (TheTimes.co.uk)
Hedge funds have placed bets worth £1.6 billion against British retailers as the industry braces for further pressure on the high street. Retailers including Wm Morrison, the B&Q owner Kingfisher and Marks & Spencer have been targeted by short-sellers as they bet that share prices in the sector will fall. Morrisons, the supermarket chain, is Britain’s most heavily shorted retailer with 6.12 per cent of its shares, worth almost £300 million, on loan, according to data from the Financial Conduct Authority. Hedge funds including Blackrock, Citadel, Hengistbury, Pelham and Darsana Capital Partners have bet against the company.
Hedge Funds See Inflows of $4.45 Bn in Nov (TradersMagazine.com)
The hedge fund business turned around eight consecutive months of aggregate outflows in November, with investors allocating +$4.45 billion to the industry, according to the just-released November 2019 eVestment Hedge Fund Asset Flows Report. November’s asset inflows and performance gains brought overall hedge fund industry AUM to $3.285 trillion, according to the new report. November’s inflows will ease industry fears that hedge fund outflows would match or surpass the $112 billion that was pulled from the industry in 2016, but the November 2019 year to date (YTD) outflows of $81.53 billion are not inconsequential.
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‘Tis The Season To Remember Buffett’s Farewell Gift To His Partners (And Consider Munis) (Seeking Alpha)
Fifty years ago, Warren Buffett was busy winding down the affairs of the investment Partnership, which provided the foundation for his own fortune and that of many others. The story of the Partnership – a perfect packaging of Phase One Buffett – is well-known. Started in 1956 with $105,000 of his own money and the money of family members and close friends, by 1969 it had brought significant wealth to all involved. Its record is presented in simple numbers: a compounded return of 23.8% annually versus 7.4% for the Dow Jones Industrials (then the major benchmark). Compared to the overall return of 185% for the DJI, Buffett’s Limited Partners had a return of 1403.5% – a fourteen-bagger. Readers should refer to the actual collected Partnership Letters.
How the 2020 Election Could Impact Hedge Funds (Bloomberg)
Tobias Levkovich, Citigroup Chief U.S. equity strategist, and Fabio Savoldelli of Columbia University, talks about how the 2020 election could impact hedge funds. They appear on “Bloomberg Daybreak: Americas.” (Source: Bloomberg).
Hedge Fund Software Market Complete Competitive Analysis and Detailed Geographical Study 2019 – 2025| FundCount, NorthstarRisk, FXCM (InfoStreetWire.com)
Los Angeles, United State, December 26th,2019: QY Research offers an overarching research and analysis-based study on the Global Hedge Fund Software Market, covering growth prospects, market development potential, profitability, supply and demand, and other important subjects. The market analysts and researchers have done extensive analysis of the global Hedge Fund Software market with the help of research methodologies such as PESTLE and Porter’s Five Forces analysis. They have provided accurate and reliable market data and useful recommendations with an aim to help the players gain an insight into the overall present and future market scenario. The report comprises in-depth study of the potential segments including product type, application, and end user and their contribution to the overall market size.
Millennium Management LLC Makes New $575,000 Investment in Pacific City Financial Corporation (NYSE:PCB) (SlaterSentinel.com)
Millennium Management LLC purchased a new position in Pacific City Financial Corporation (NYSE:PCB) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 35,002 shares of the company’s stock, valued at approximately $575,000. Millennium Management LLC owned about 0.22% of Pacific City Financial at the end of the most recent quarter. Other hedge funds have also modified their holdings of the company. Stifel Financial Corp purchased a new stake in shares of Pacific City Financial during the 3rd quarter valued at $905,000.
Coupa Software Inc (COUP) CEO Robert Bernshteyn Sold $1.2 million of Shares (Guru Focus)
CEO of Coupa Software Inc., Robert Bernshteyn, sold 8,151 shares of COUP on 12/23/2019 at an average price of $147.98 a share. The total sale was $1.2 million. Coupa Software Inc is a US-based firm that offers spend management solutions through the Software-as-a-Service business model.
The COB, Pres & CEO of Liberty Property (NYSE: LPT) is Buying Shares (Analyst Ratings)
Today, the COB, Pres & CEO of Liberty Property (LPT), William Hankowsky, bought shares of LPT for $669.9K. Following William Hankowsky’s last LPT Buy transaction on February 14, 2013, the stock climbed by 30.1%. Following this transaction William Hankowsky’s holding in the company was increased by 4.15% to a total of $27.41 million.
Micron Technology Inc (MU) EVP, Technology Development Scott J Deboer Sold $766,864 of Shares (Guru Focus)
EVP, Technology Development of Micron Technology Inc., Scott J Deboer, sold 13,694 shares of MU on 12/23/2019 at an average price of $56 a share. The total sale was $766,864. Micron Technology Inc along with its subsidiaries provide memory and storage solutions. Its product portfolio consists of memory and storage technologies such as DRAM, NAND, NOR and 3D XPoint memory.
CFTC Awards More Than $1 Million to Whistleblower (HedgeCo.net)
(HedgeCo.Net) The U.S. Commodity Futures Trading Commission has announced it will award more than $1 million to a whistleblower whose tip helped expose a scheme that violated the Commodity Exchange Act (CEA) and eventually led to the CFTC filing charges. The individual first provided the information through their employer’s internal compliance program to another regulator and then subsequently provided that information directly to the CFTC. This award is significant because it recognizes that whistleblowers are eligible to receive an award for 1) being the original source of information the CFTC receives from another regulator, or 2) a tip that leads to evidence of a violation the CFTC ultimately charges, even if the reported conduct itself does not form the basis for those charges.
