Investor letter

The group has announced that its four top executives involved in the submission of false information have paid a total of RM16 million in compounds issued by the SC. (Photo by Mohamad Shahril Basri/The Edge) - A + A KUALA LUMPUR (May 17): Financially troubled Serba Dinamik Holdings Bhd gained investors' interest and emerged as the top actively traded counter on the local bourse on Tuesday (May 17). The stock opened one sen or 8.33% higher at 13 sen and surged further to hit an intraday high of 22 sen. It ended the trading day 4.5 sen or 37.5% higher at 16.5 sen, giving it a market capitalisation of RM614.99 million. A total of 1.05 billion shares changed hands, representing 28.15% of its share issuance capital. Notably, shares in the oil and gas service provider resumed trading on May 9 after a six-month long suspension since October last year. The stock sank to a new low of six sen on May 11, which was the third day of resumption of trading. … [Read more...] about Serba Dinamik emerges as top actively traded stock, rises up to 22 sen

Share to Twitter Share to Linkedin Discounts on the two largest cryptocurrency funds hit all-time lows as the digital assets market suffered one of its most volatile weeks. Namely, shares of the Grayscale Bitcoin BTC Trust (GBTC), the world's biggest bitcoin fund with $18.3 billion in assets under management, have been trading at a 30.79% discount against the fund’s net asset value. As a private-placement trust that trades like a stock, GBTC allows investors to get exposure to bitcoin without actually having to buy the asset. The fund’s manager, New York-based Grayscale Investments, takes care of the custody in exchange for an annual management fee of 2%. The company’s other product, the $6 billion Grayscale Ether ETH eum Trust (ETHE), has also seen its discount widen to 34.22% this week. The offering carries a slightly higher fee tag of 2.5%. While the heavy discounts could be seen as a bearish indicator of investor sentiment, they also offer … [Read more...] about Grayscale Bitcoin And Ethereum Trust Discounts Hit All-Time Lows

Share to Twitter Share to Linkedin Lee Ainslie's Maverick Capital recorded its second-worst quarter ever during the first quarter, a dramatic turnaround from last year's first quarter when the fund enjoyed its strongest quarter ever. During the first three months of this year, Maverick returned -22.9%, compared to the S&P 500's loss of 4.6% and the MS World's decline of 5.2%. First-quarter detractors In his first-quarter letter to investors, Ainslie pointed to four contributors to the fund's weak performance. Their sizable position in Coupang accounted for about two-thirds of the loss due to the stock's 40% plunge, while high-growth and mega-cap tech stocks saw a broad-based decline. Finally, biotech stocks as a whole tumbled because they were grouped in with other long-duration assets, and dollar-volume M&A activity in the space has declined significantly in the last 12 months. Ainslie believes concerns about the impact of discount rates on … [Read more...] about Lee Ainslie On Maverick Capital’s Housing Shorts And New Healthcare Stock