John Armitage newly minted billionaire makes the hedge fund manager Ireland’s latest addition to the ranks of billionaires, according to Forbes rich list.
Speculators connected to the easy money, courtesy of the central bank, are now crowding the rich list. Today, speculative investing (gambling) is more profitable than productive investing in plant machinery and people.
“John Armitage newly minted billionaire has reported a wealth of $1.3 billion”
John Armitage newly minted billionaire has reported a wealth of $1.3 billion
That places John Armitage, the hedge fund manager who co-founded Egerton Capital at 1,717th on the Forbes list which also makes him the Republic’s eighth richest person.
John Armitage newly minted billionaire also recently became a naturalized citizen of Ireland on the 18the February 2018
The Republic of Ireland is a member of the European Union (EU) and its official currency is the euro. John Armitage is a Europhile, a person who admires Europe, Europeans and or the EU.
John Armitage decision to become Irish is a growing trend as the date when Britain leaves the EU approaches.
“John Armitage decision to become Irish is a growing trend as the date when Britain leaves the EU approaches”
A new data reveals a surge in Brits taking up dual nationality in the wake of Brexit.
“Brexit is turning the UK into a country of dual citizens. An Irish grandparent is now the most prized possession in the land, giving the proud owner the right to an Irish (and thus an EU) passport,” reports the Guardian.
John Armitage newly minted billionaire coincides with his recent political donations
John Armitage was a donor to the remain campaign in advance of the Brexit referendum as well as a supporter of the Conservative Party in the UK. He donated £500,000 (€582,111) to the party in advance of Theresa May’s failed election gamble in 2017.
“In the long-term, usually what the people want, the people get. Otherwise, there’s a revolution” – Crispin Odey
Hedge fund political donations are becoming a growing trend.
Crispin Odey is another British hedge fund manager who is on the other end of the political spectrum. Crispin Odey is a eurosceptic and pro Brexit.
Early this year Crispin Odey warned, “In the long-term, usually what the people want, the people get. Otherwise, there’s a revolution”.
Crispin Odey has made donations to the Brexit campaign. Moreover, George Soros also made political contributions but to the remain campaign.
So wealthy hedge fund managers are using their personal fortune to influence politics and perhaps maybe even profit from the outcome too.
John Armitage newly minted billionaire from his Egerton fund has also made his investors wealthy
John Armitage’s Egerton recently performed in the top 20 in Europe.
John Armitage co-founded Egerton with Irish-American financier William Bollinger in 1994. Mr. Bollinger is no longer involved in the company.
John Armitage holds between 25 and 50 percent of Egerton, according to regulatory filings.
The Egerton fund has delivered a 6.08 percent return to investors in the last 12 months and an 18.31 percent return over the past three years.
John Armitage’s Egerton had about $19.5 billion in assets under management and is one of the larger funds based in the Republic.
John Armitage newly minted billionaire comes at a time when his Egerton fund soared by more than 100% in 2018 following bumper profits
Egerton increased by 105% to £217.8m in the year ending March 31, 2018, according to accounts filed at Companies House. That was on the back of a 98.4% rise in revenues to £229.4m.
“His (Jon Armitage) investing style has been hugely successful last year with the hedge fund manager earning a fortune of around £540m”
Jon Armitage newly minted billionaire status emanates from an orthodox style of investing
John Armitage uses fundamental analysis when making investment decisions. The fundamental analysis measures a stock’s intrinsic value by examining related economic and financial factors. Fundamental analysts will study anything factor which could affect the security’s value, from macroeconomic factors such as the state of the economy and industry conditions to microeconomic factors like the effectiveness of the company’s management.
John Armitage stock-picking firm has long/short and long-only equity strategies and has been one of London’s most successful hedge funds.
His investing style has been hugely successful last year with the hedge fund manager earning a fortune of around £540m.
John Armitage newly minted billionaire has made him the UK’s ninth-richest hedge fund manager, according to the 2018 Sunday Times Rich List
During John Armitage time at Morgan Grenfell in the 1980s and early ’90s, he worked under Michael Dobson who is now chairman of UK-listed investment house Schroders.
John Armitage currently manages a $1.4bn portfolio for clients of Schroders through its Gaia fund. John Armitage has managed to return more than 15% to investors in 2017 and has rarely experienced a loss-making year.
In a 2013 interview with Financial News Michael Dobson Dobson said the following about John Armitage, “When I go around to his house in the country, it always amuses me that his kitchen table is covered with annual reports… He hates underperforming and losing money for clients, which is something he rarely does”.
John Armitage newly minted billionaire status was not all plain sailing
For example, data from HSBC showed Gaia struggling in 2018, with the fund down some 3.6% in the year to December 11. The £5bn Egerton Capital Equity Fund, meanwhile, is down nearly 12.5% for the past three months, according to Bloomberg data (based on the first quarter of January 2019)
Dan Loeb targets Sony. Dan Loeb is an activist investor and founder of Third Point, which oversees about $14.5 billion in assets.
Last year the activist investor viewed Campbell soup as a bargain when Third point reported that the soup maker could fetch a takeover value of $52 to $58 per share.
A year later and the activist investor Dan Loeb targets Sony
Dan Loeb's activist hedge fund Third Point is raising an investment vehicle to generate between $500 million and $1 billion so it can continue to buy Sony shares, according to a recent report in Reuters.