Latest news with #CaxtonAssociates
Yahoo
27-05-2025
- Business
- Yahoo
Veteran hedge fund manager claims he is 'Bit Wiser' after misstep
Josh Mandell, a longtime Wall Street trader with a track record in government bonds and short-dated options, as well as experience in leading hedge funds, has provided an interesting note this morning, offering a rare glimpse into his investment in crypto — and it has raised a few eyebrows. Mandell posted on May 27, a screenshot that showed a 2.1 million dollar position in the Bitwise Bitcoin ETF (BITB), with a "tiny" gain of $1,491.80 on the day. His post on X read, "I've made some bad choices when deciding how to invest in Bitcoin, but today I'm a Bitwiser." Bitwise is one of the largest firms providing exposure to Bitcoin via a regulated exchange-traded fund (ETF), so there is no need for traditional investors to invest in crypto assets directly, such as wallets and private keys. Mandell's investment, as shown in the image, consisted of 35,000 shares in the ETF at an average purchase price of $59.98, corresponding to a current trading price of $60.02 for BITB. A $1,491.80 gain is not notable in isolation, but concerning his $2.1 million investment capital, a 0.07% gain signals Mandell's level of interest in Bitcoin as a long-term store of value. Josh Mandell has a lengthy history of working in fixed income trading, options trading, and the hedge fund space, serving as a director and head of Caxton Associates, a high-profile investment firm specializing in fund management. His public embrace of a Bitcoin ETF is indicative of an increasing interest in digital assets among traditional finance veterans. For retail investors, this represents yet another sign that Bitcoin is slowly but surely becoming a deserving member of the financial mainstream. Veteran hedge fund manager claims he is 'Bit Wiser' after misstep first appeared on TheStreet on May 27, 2025 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
27-05-2025
- Business
- Yahoo
Veteran hedge fund manager claims he is 'Bit Wiser' after misstep
Josh Mandell, a longtime Wall Street trader with a track record in government bonds and short-dated options, as well as experience in leading hedge funds, has provided an interesting note this morning, offering a rare glimpse into his investment in crypto — and it has raised a few eyebrows. Mandell posted on May 27, a screenshot that showed a 2.1 million dollar position in the Bitwise Bitcoin ETF (BITB), with a "tiny" gain of $1,491.80 on the day. His post on X read, "I've made some bad choices when deciding how to invest in Bitcoin, but today I'm a Bitwiser." Bitwise is one of the largest firms providing exposure to Bitcoin via a regulated exchange-traded fund (ETF), so there is no need for traditional investors to invest in crypto assets directly, such as wallets and private keys. Mandell's investment, as shown in the image, consisted of 35,000 shares in the ETF at an average purchase price of $59.98, corresponding to a current trading price of $60.02 for BITB. A $1,491.80 gain is not notable in isolation, but concerning his $2.1 million investment capital, a 0.07% gain signals Mandell's level of interest in Bitcoin as a long-term store of value. Josh Mandell has a lengthy history of working in fixed income trading, options trading, and the hedge fund space, serving as a director and head of Caxton Associates, a high-profile investment firm specializing in fund management. His public embrace of a Bitcoin ETF is indicative of an increasing interest in digital assets among traditional finance veterans. For retail investors, this represents yet another sign that Bitcoin is slowly but surely becoming a deserving member of the financial mainstream. Veteran hedge fund manager claims he is 'Bit Wiser' after misstep first appeared on TheStreet on May 27, 2025
The Guardian
23-05-2025
- Business
- The Guardian
David Cameron in talks to become consultant at law firm DLA Piper
David Cameron is in talks to join the law firm DLA Piper as a consultant – five years after the Greensill scandal that showed he intensively lobbied officials on behalf of his failing employer. The former prime minister, who also served as foreign secretary last year, is said to be having discussions about taking on an advisory position to help the firm with geopolitical risks. The job would be in addition to Cameron's existing portfolio of roles, with his current register of interests listing that he works as an adviser to Finback Investment Partners, a private equity firm, and Caxton Associates, a hedge fund. He also chairs the advisory board of a payments firm called PayCargo LLP. It is understood Cameron's role at DLA Piper, first reported by the Financial Times, would not involve lobbying on behalf of the company, which is the world's third biggest law firm. The former prime minister has had a series of jobs since he left No 10 in 2016, including lobbying the government on behalf of a since-collapsed financial firm, Greensill, which led to a scandal over his influence. A parliamentary inquiry by the Treasury committee in 2021 found that it was inappropriate for the ex-prime minister to send 62 messages to former colleagues asking them to help Greensill, for which he worked and in which he owned stock options that could have been worth tens of millions of pounds. The inquiry found he had shown a 'significant lack of judgment'. He also worked for a gene-sequencing company, Illumina, which won a £123m government contract during the pandemic; and an AI firm, Afiniti, from which he resigned in 2021. Before he was foreign secretary, Cameron also appeared to have been helping to drum up support for a controversial port project in Sri Lanka, which is part of the flagship belt and road initiative of the Chinese president, Xi Jinping. Cameron's office and DLA Piper have been approached for comment. DLA Piper told the FT that discussions were under way and declined to comment further. Separately, the Daily Mail reported on Thursday that Cameron had struggled to buy a Vodafone mobile phone contract for one of his children and there was a suspicion that this was because he was a 'politically exposed person' (PEP). The issue came under the spotlight originally when Nigel Farage, the Reform UK leader and MP, had his bank account at Coutts closed down because he had been classed as politically exposed. Financial regulations mean banks and other financial services providers are more reluctant to deal with politicians because they are potential targets for bribery and corruption. In response to the concerns raised by Cameron's experience, Farage told the Times: 'The prejudice against PEPs is truly appalling. My debanking case exposed this. There are about 90,000 people on the PEP list and that includes people like my children who have been denied things wholly unfairly. The whole thing is an outrage.' The Financial Conduct Authority issued a warning last year to banks that they must do more to make sure politicians and their families are treated more fairly and not denied services.
Yahoo
10-05-2025
- Business
- Yahoo
Teck Resources Limited (TECK): Among Billionaire Bruce Kovner's Stock Picks with Huge Upside Potential
We recently published a list of Billionaire Bruce Kovner's 10 Stock Picks with Huge Upside Potential. In this article, we are going to take a look at where Teck Resources Limited (NYSE:TECK) stands against other stock picks with huge upside potential. Bruce Kovner founded Caxton Associates in 1983, a New York-based trading and investment firm that was formed as the successor to Caxton Associates LP. Caxton is a wholly owned subsidiary of Caxton Europe LLP. Kovner retired in 2011, and his firm returned an average of 21% per year between its inception in 1983 and 2011. With his long-time partner Peter D'Angelo in charge of Caxton's operations, Kovner concentrated on trading the financial and commodity markets based on his views of macroeconomic conditions. He is featured in Jack Schwager's book 'Market Wizards' as one of the greatest traders of all time. Here's one of Kovner's popular trading quotes from the book: 'Risk management is the most important thing to be well understood. Undertrade, undertrade, undertrade is my second piece of advice. Whatever you think your position ought to be, cut it at least in half.' A lot of individuals enter financial markets with the notion that successful investors know something that the common man does not. However, the truth is that experienced investors understand and accept the inherent uncertainty of market outcomes. So they focus on the interplay of probability and the balance between risk and reward. Kovner also believes in the process of adaptation and adjustment. Here's what he had to say about dealing with highly uncertain markets: 'First, I have the ability to imagine configurations of the world different from today and really believe it can happen. I can imagine that soybean prices can double or that the dollar can fall to 100 yen. Second, I stay rational and disciplined under pressure.' Kovner dropped out of Harvard University and floated around a few aimless jobs before finding his love for trading. He also founded the Kovner Foundation, which manages his philanthropic activities. Today, Kovner is chairman of CAM Capital (Caxton Alternative Management Capital), which invests his private assets. Caxton Associates has 13 clients and discretionary assets under management (AUM) of $4.18 billion, according to the firm's Form ADV dated 15 January 2025. The last reported 13F filing for Q4 2024 included $3.18 billion in managed 13F securities and a top 10 holdings concentration of 63.18%. To compile the list of billionaire Bruce Kovner's 10 stock picks with huge upside potential, we sifted through Q4 2024 13F filings of Caxton Associates from Insider Monkey. From these filings, we checked the upside potential from CNN for the top 50 stock picks and ranked the stocks in ascending order of their upside potential. We have also added Caxton Associates' stake in each stock as well as the broader hedge fund sentiment for it. Note: All data was sourced on May 7. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here). A close up of an automated machine processing other Industrial Metals & Mining resources. Caxton Associates' Stake: $40.19 million Number of Hedge Fund Holders: 66 Average Upside Potential as of May 7: 39.07% Teck Resources Limited (NYSE:TECK) researches, explores, develops, processes, smelts, refines, and reclaims mineral properties in Asia, the Americas, and Europe. The company operates through the Copper and Zinc segments. It offers copper, zinc, and lead concentrates, as well as refined zinc, lead, and silver. In addition, it explores for gold. In Q1 2025, the company's Copper segment achieved a 90% increase year-over-year in gross profit before depreciation and amortization, and reached $704 million. This was driven by higher copper prices and increased copper sales volumes, along with increased byproduct revenues from molybdenum and zinc. Copper production increased by 7% to 106,000 tons due to improved grades and mill throughput at Highland Valley and Carmen de Andacollo. Teck Resources Limited (NYSE:TECK) now anticipates growth in its copper production with improving margins throughout 2025. The company projects full-year copper production to be between 490,000 to 565,000 tons, which would be up from 446,000 tons in 2024. This will be driven by the ongoing ramp-up of QB and improved performance at Highland Valley. On April 28, Benchmark maintained its Buy rating on the stock with a $55 price target. Overall, TECK ranks 6th on our list of billionaire Bruce Kovner's stock picks with huge upside potential. While we acknowledge the potential of TECK as an investment, our conviction lies in the belief that AI stocks hold great promise for delivering high returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than TECK but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
10-05-2025
- Business
- Yahoo
Advanced Micro Devices, Inc. (AMD): Among Billionaire Bruce Kovner's Stock Picks with Huge Upside Potential
We recently published a list of Billionaire Bruce Kovner's 10 Stock Picks with Huge Upside Potential. In this article, we are going to take a look at where Advanced Micro Devices, Inc. (NASDAQ:AMD) stands against other stock picks with huge upside potential. Bruce Kovner founded Caxton Associates in 1983, a New York-based trading and investment firm that was formed as the successor to Caxton Associates LP. Caxton is a wholly owned subsidiary of Caxton Europe LLP. Kovner retired in 2011, and his firm returned an average of 21% per year between its inception in 1983 and 2011. With his long-time partner Peter D'Angelo in charge of Caxton's operations, Kovner concentrated on trading the financial and commodity markets based on his views of macroeconomic conditions. He is featured in Jack Schwager's book 'Market Wizards' as one of the greatest traders of all time. Here's one of Kovner's popular trading quotes from the book: 'Risk management is the most important thing to be well understood. Undertrade, undertrade, undertrade is my second piece of advice. Whatever you think your position ought to be, cut it at least in half.' A lot of individuals enter financial markets with the notion that successful investors know something that the common man does not. However, the truth is that experienced investors understand and accept the inherent uncertainty of market outcomes. So they focus on the interplay of probability and the balance between risk and reward. Kovner also believes in the process of adaptation and adjustment. Here's what he had to say about dealing with highly uncertain markets: 'First, I have the ability to imagine configurations of the world different from today and really believe it can happen. I can imagine that soybean prices can double or that the dollar can fall to 100 yen. Second, I stay rational and disciplined under pressure.' Kovner dropped out of Harvard University and floated around a few aimless jobs before finding his love for trading. He also founded the Kovner Foundation, which manages his philanthropic activities. Today, Kovner is chairman of CAM Capital (Caxton Alternative Management Capital), which invests his private assets. Caxton Associates has 13 clients and discretionary assets under management (AUM) of $4.18 billion, according to the firm's Form ADV dated 15 January 2025. The last reported 13F filing for Q4 2024 included $3.18 billion in managed 13F securities and a top 10 holdings concentration of 63.18%. To compile the list of billionaire Bruce Kovner's 10 stock picks with huge upside potential, we sifted through Q4 2024 13F filings of Caxton Associates from Insider Monkey. From these filings, we checked the upside potential from CNN for the top 50 stock picks and ranked the stocks in ascending order of their upside potential. We have also added Caxton Associates' stake in each stock as well as the broader hedge fund sentiment for it. Note: All data was sourced on May 7. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (see more details here). A close up of a complex looking PCB board with several intergrated semiconductor parts. Caxton Associates' Stake: $132.87 million Number of Hedge Fund Holders: 96 Average Upside Potential as of May 7: 31.00% Advanced Micro Devices, Inc. (NASDAQ:AMD) is a semiconductor company that operates through four segments. These are the Data Center, Client, Gaming, and Embedded segments. It offers AI accelerators, x86 microprocessors, and GPUs as both standalone devices and also incorporated into accelerated processing units, chipsets, and data center applications. On May 5, Bank of America reiterated a Neutral rating on the stock with a $105 price target. Despite expectations of a strong quarter backed by server CPU sales and gains in desktop PC market share, AMD is set to face major challenges in the upcoming quarters. In particular, China's restrictions on AMD's MI308 products are anticipated to lead to a sales headwind and a decline in gross margins for the second quarter. Wedbush's Matt Bryson also pointed out that AMD is still gaining market share in the compute sector, both in servers and PCs. The analyst believes that while Advanced Micro Devices, Inc. (NASDAQ:AMD) is already outperforming in desktop computers, there is still potential for growth in the notebook segment in 2025. In Q4 alone, the revenue increased by 24% to a record $7.7 billion due to record quarterly data center and client segment revenue. Overall, AMD ranks 7th on our list of billionaire Bruce Kovner's stock picks with huge upside potential. While we acknowledge the potential of AMD as an investment, our conviction lies in the belief that AI stocks hold great promise for delivering high returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than AMD but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. 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