Hedge funds
Hedge fund update featuring MMCAP, Waratah, Bedford Park and Senvest
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A pot pourri of 2021 hedge fund numbers.
Newton Glassman and Catalyst Capital have lost again
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A complete loss for Newton Glassman!
Polar Asset Management and Paul Sabourin, the alpha dog of Canadian hedge funds
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Believe it or not, Polar is now almost as big as Wealthsimple. But much more profitable.
SEC accuses Polar Asset Management trader of front-running scheme
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Sean Wygovsky, CFA, a Toronto-based trader was arrested this morning and charged with securities and wire fraud in a front-running scheme. His employer is by far the oldest and largest Canadian hedge fund, Polar Asset Management, AUM of over $20 billion. Sean allegedly exploited his advance knowledge of Polar's large
The rise of Anson Funds and Moez Kassam
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Anson Funds and its founder Moez Kassam have emerged as players on Bay Street.
Hedge fund manager Shawn Kimel donates $21m to Mount Sinai Hospital
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Arbitrageur Shawn Kimel, founder of hedge fund K2 and his partner Kate Schatzky have gifted $21m to Sinai Health, aka the Toronto Mount Sinai Hospital. Shawn was treated at the hospital for a severe brain injury stemming from a bike accident in 2017. This will lead, among other initiatives, to
GameStop: Two Montrealers among biggest winners: Richard Mashaal of Senvest and Ryan Cohen
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My sister publication, The Wall Street Journal, has reported on a $700m gain on GameStop, now fully realized, by a hedge fund operated by Senvest Management. Montreal connoisseurs will know that Senvest has roots in Montreal and is part of a TSX-listed holding company, Senvest Capital. It was originally started
Martin Connell and the Ewing Morris dilemma
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The Ewing Morris Opportunities Fund had one of the more notable negative performances of 2020. It was still down 21.7% as of November 2020. I have already covered their struggles before here. I mentioned that fund had a $20m investor and I finally solved that mystery. It all started
Bay Street Lame Ducks taking advantage of wage subsidies
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Some well-known names on the Street are taking advantage of wage subsidies!
Moez Kassam and Anson up 29% YTD
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Moez Kassam is under attack, but is having a good year performance-wise.
Eric Rosenfeld of Canaccord and SPACs
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Eric Rosenfeld is back in the news with Canaccord.
Ewing Morris: Even Harry Rosen couldn't save this hedge fund
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Hedge fund with big-name backers has performance issues.
Moez Kassam, Anson Funds
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Moez Kassam is one of the most colourful characters on Bay Street.
Move over phoenix, Nick Maounis is also a Greek legend
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The comeback of Amaranth founder Nick Maounis.
BloombergSen: fighting inequality through crappy returns
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BloombergSen, another fund with performance fees and performance issues.
Eric Nuttall - oil and gas fund manager of the decade
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Let’s go there and talk about man of the hour, Eric Nuttall. The last man limping in the active management of an energy fund. People want me to talk about Eric Nuttall - I have resisted so far, because he fails the bigliness test. Also, I didn’t want
More Blind Squirrels of Bay Street
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Updates on various hedge funds. Jeff Banfield, Waratah, XIB, Avner Mandelman and more!
Canadian Hedge Fund Death Watch
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How did hedge funds fare in the March market crash?
Albert Friedberg, billionaire Original Gangster of Macro
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Albert Friedberg, old-school macro trader.
Polar Asset Management, Original Gangster of Canadian hedge funds
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Polar has been around for a long time and is a rare institutional-grade hedge fund in Canada.
The nature of the Portfolio Manager - Analyst relationship
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I wrote this essay on the true nature of the analyst’s role when they work for a portfolio manager. This piece originates from a discussion I was having with an analyst who felt confused about his role. It might also help cure some delusions many portfolio managers have, but
Barrage Capital : The One Direction of Hedge Funds
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Montreal Buffett disciples with intriguing performance.
OPM Wire revokes Greg Boland's title as The Smartest Guy on Bay Street
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“Investor activism is a shareholder right; it’s only newsworthy because investors were quite lazy for so long.” Greg BolandEver since Derek DeCloet declared Greg Boland the "Smartest Guy on Bay St." in 2006, this notion has gone unchallenged. That is, until I started stirring things last year. Now, upon
That time I met Brian Chapman of Clearwater Capital
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Brian Chapman is an under-the-radar investment wizard.
Waratah Advisors - Apology & retraction
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More Waratah polemics!
Waratah Performance - A hedge fund that is only semi-crappy
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Does Waratah Capital Advisors add any value?
OPM Wire goes activist on West Face's ass
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My other resolution is to double down on the fire-breathing. Welcome to OPM Wire, Phase 2. You know that advice to newly incarcerated inmates that on your first day, you should pick a fight with the biggest guy in prison so that everyone else falls in line? Today, OPM Wire
The first 3 funds I ever picked blew up 💥
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Good judgement comes from experience. Experience comes from bad judgement. —Bruce LeeI have just returned from a high-status holiday that my professed investment expertise presumably affords me. My resolution this year is to be more vulnerable. I heard Gwyneth Paltrow, founder of Goop, say that leaders must show their vulnerable
Jeff Banfield, Original Gangster of Arbitrage
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Jeff Banfield is primarily known as an arbitrageur. After working for many years as a prop trader at banks, he started Banfield Capital Management in 1997. In February 2001, Banfield was allegedly involved in some insider trading shenanigan (or it might have been a kerfuffle, I'm not a regulation expert)
Eric Sprott and Tom Stanley lost big yesterday
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Eleanor Roosevelt said great minds discuss ideas; average minds discuss events; small minds discuss people. But why would you listen to an antisemite who married her fifth cousin? So forget her, we are going to discuss events and people. Specifically, Tom Stanley (aka Tom Lazarus Stanley), Eric Sprott and how
Move over Lazarus, Tom Stanley also rose from the dead
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This post, like my last one, is about Tom Stanley, although from now on, I will call him Tom Lazarus Stanley. In case you don’t know, Lazarus is a Bible character who was brought back to life by Jesus. Of course, Jesus also famously came back to life, but
Tom Stanley of Resolute Performance has delivered near 8x returns since 2016
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Move over Tiger Woods, there's a new Comeback Kid. Tom Stanley is the manager of the Resolute Performance Fund, a strategy he has been managing continuously, in various guises since 1993. For a while he had a phenomenal track record and reputation, culminating in a 2005 Report on Business Magazine
Greg Boland is probably a nice guy. At least, I really hope so
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What possessed me, a newbie blogger, to start a campaign to elicit the performance history of Greg Boland, one of the most powerful men in Canadian finance? At this point, I would settle for just knowing how big his RRSP is and on behalf of the Globe, what his favourite
Will Greg Boland keep you warm in the middle of a protracted drawdown?
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We readily concede that Greg Boland is really astute. But no one is infallible. Every manager has periods of adversity. In such a situation, would his brains be enough to keep giving you warm fuzzies? Some of you may know this as the Shania Test. Forget Sharpe ratios, the Shania
I tried to contact Greg Boland. I was unsuccessful. I am drawing adverse inferences.
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I want to turn my attention to Greg Boland and West Face Capital. He's probably the most prominent hedge fund manager on Bay St, manages billions and is a mover and shaker in Canadian corporate boards. Just in case you need a background: his rise on Bay St started as
James S. A. MacDonald, Canadian hedge fund pioneer and the last boss Greg Boland had
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Today, I am launching what will be by far my most popular feature, Memba him (which I totally copied from TMZ). So, Memba him? James S.A. MacDonald. I was reminded of James S.A. MacDonald, as I was listening to the Supreme Court of Canada live hearings yesterday to