Anson Funds and its founder Moez Kassam have become Bay Street players.
Anson Funds has distinguished itself as a rare example of a Canadian hedge fund with a strong track record spanning close to 15 years and significant assets totaling C$1.5 billion. Not bad considering that Moez Kassam, the company’s founder and chief investment officer, borrowed money from his classmates so that he could invest in the stock market.
Both Anson and Moez Kassam are currently playing supporting roles in the ongoing epic battles that are taking place between Greg Boland and Newton Glassman. And take a look at this chart: it shows an increase of 32% up to the end of April, following an increase of 44% the previous year.
In the event that the chart does not load, a stylized representation can be found here: This is not a logarithmic expression. As a result, the annualised rate since its inception in July 2007 has reached 15.8%. Only 14% of the fund’s assets were invested in long positions when the year began (largely unchanged at end of Q1).
Anson is an opportunistic trader who pays attention to sentiment when entering and exiting stock positions. Although the Nasdaq is still 3% away from its all-time high, Anson has capitalised on a number of declines in specific names to his advantage.
Although I have not known very many successful traders with a solid track record over the long term, I suppose there are some exceptions. That information is still too overwhelming for me to comprehend. According to what I have gathered, there are four primary pillars, which indicates that it is developing into a relatively lucrative enterprise.
Anson is a shortseller who can be aggressive at times. Their involvement as shorts in the demise of Callidus, Concordia International, and various cannabis stocks has enraged many adversaries. On one side, there are WestFace, Clearwater Capital (Roland Keiper), Anson, K2 Partners (Shawn Kimmel), MMCAP, and Marc Cohodes. (Marc Cohodes is a well-known American activist who is occasionally active in Canada). Newton Glassman, Danny Guy (aka Vincent Hanna), and Jason Donville are on the other side. You should not invite Newton Glassman and Moez Kassam to your child’s baptism.
Danny Guy, a hedge fund manager, was recently revealed in an investigative piece by Roddy Boyd. Danny is apparently upset with some shorts’ tactics because he lost $250 million in Concordia International (ie Junior Valeant). I have no doubt that activist shorts engage in information warfare.
According to the story, some wealthy people are expending a lot of resources over recriminations from many years ago. Anson has recently been the target of incendiary, anonymous online attacks that have received a lot of attention.
Anson hired lawyers, investigators, and the like, and responded late last year by filing a $111 million lawsuit. The defendants are Robert Doxtator, a cannabis industry consultant, and several unidentified parties.
Michael Barrack of Blakes is Anson’s lawyer, and his approach is described as “street fighter meets master chess player” on his official profile. The main defendant is Robert Doxtator, also known on Twitter as @BettingBruiser. His attorney is the legendary Joe Groia, known for his sarcastic advocacy.
I’m constantly bombarded with smears directed at Anson. When GameStop went bankrupt, it was claimed that they were a major victim. They did have a “small, manageable position,” as they put it. When Cormark was fined for allowing a client to naked sell short shares, rumour had it that it was Anson. Anson denies this and claims that they are still trading with Cormark.
I’d like to know who the actual client is. In any case, Moez is making amends for his cruel treatment of defenceless longs. In March, he and his wife Marissa donated $1 million to the Michael Garron Hospital, which resulted in the Moez & Marissa Kassam Food Court.
Some say I’m not being objective enough with Anson. Nothing could be further from the truth. I was the first to report that Moez’s hairstylist had been barred from the industry for malpractice. However, I must admit that the hair looks good in person! Plus, you’ll be so engrossed in his captivating eyes that you won’t notice the hair.
Read this for an overview of Anson and Moez Kassam.