Investments
AXIS falls to loss, third-party capital fee income slides further
AXIS Capital, the Bermuda-based globally-active insurance and reinsurance company, has reported a net loss for the fourth-quarter and full-year 2020, as improved underlying accident year combined ratios couldn’t offset significant catastrophe and COVID-19 losses. AXIS Capital reported a net loss of $5 million and operating loss of $16 million for Q4 2020 and a net…
Read MoreCATCo retro fund rises 7% on reduced 2017 wildfire claims (subrogation?)
Some shareholders in the CATCo Reinsurance Opportunities Fund Ltd., Markel CATCo Investment Management’s listed retrocession focused investment fund, have benefited from a reduction in claims related to California’s 2017 wildfires, perhaps suggesting a subrogation recovery has made its way through to the portfolio. The in-run off retrocessional reinsurance focused investment fund’s manager Markel CATCo said…
Read MoreGDS Investments 2020 Annual Letter: Long First Solar
GDS Investments letter to investors for the year ended December 31, 2020, discussing their biggest performance contributors Berkshire Hathaway, BYD Company, First Solar, QUALCOMM, Roku, Twitter, and Zillow Group. Q4 2020 hedge fund letters, conferences and more “If you’re going through hell, keep going.” – Winston Churchill “Only if you have been in the deepest valley, […]
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Read MoreShort-Squeeze Led A Textbook Selloff In Stocks
Commenting on the historic short-squeeze on Wall Street and today’s trading Gorilla Trades strategist Ken Berman said: Q4 2020 hedge fund letters, conferences and more Hedge Funds Forced To Sell Amid The Historic Short-Squeeze On Wall Street While today’s ugly session could be the start of an orderly pullback, we could be in for some […]
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Read MoreAlimentation Couche-Tard: Cheap Quality Compounder Or Gasoline Dinosaur?
Alimentation Couche-Tard: Cheap Quality Compounder Or Gasoline Dinosaur? by Value And Opportunity Q4 2020 hedge fund letters, conferences and more Management Summary: Alimentation Couche-Tard Inc (TSE:ATD.B) (TSE:ATD.A) (“CT”) is one of the historically best performing Canadian companies, operating gas stations and convenience stores around the world with a focus on North America. The company currently […]
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Read MoreBlack Bear Value Partners LP 2020 Letter: Long Texas Pacific Land Trust
Black Bear Value Partners LP annual letter to investors for the year ended December 31, 2020. Q4 2020 hedge fund letters, conferences and more “Nothing valuable can be lost by taking time.” – Abraham Lincoln To My Partners and Friends: Black Bear Value Fund, LP (the “Fund”) returned -6.5%, net, in 2020. The S&P 500 […]
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Read MoreGold Prices Pressured By The Fed Meeting, U.S. Dollar
Gold prices fell during and after the Fed meeting on Wednesday. Federal Reserve Chairman Jerome Powell left interest rates unchanged at around zero and pointed out that economic activity has moderated since the December meeting. Q4 2020 hedge fund letters, conferences and more Gold prices affected by the Fed meeting Economists and analysts hadn’t been […]
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Read MoreFirst Eagle Global Value 2020 Annual Letter
First Eagle Global Value annual letter to investors for the year ended December 31, 2020. Q4 2020 hedge fund letters, conferences and more Those who think it’s possible to predict the future of economies and markets with any sort of accuracy would have a hard time explaining 2020—a year dominated by a black swan event […]
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Read MoreLBO Loans Pricing Remains Elevated As Buyout Activity Recovers In Q4
Mergermarket and Debtwire released a comprehensive overview of US buyout activity and LBO financing trends, including extensive advisory league tables. Q4 2020 hedge fund letters, conferences and more Highlights from the report include: US Buyout Activity Recovers In Q4 US buyout activity continued its strong recovery in Q4. A total of USD 99.6bn was invested […]
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