Hedge Funds

With global hedge fund assets at roughly $3.45 trillion (and growing by double-digit percentages each year), money managers have a greater influence on public and private markets than ever before. DailyAlts covers every element of the hedge fund industry – from changing performance structures to manager strategies, from regulatory oversight to activist holdings, and from new fund launches to the liquidation of underperformers. This channel is your one-stop-shop for daily news and insights for the influential and topical hedge fund space.

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Hedge Funds: Four Portfolio Managers Leave Citadel

Volatility has shaken the markets. The Dow had its worst quarter in history. The U.S. economy could see GDP fall by 30% this quarter. And four portfolio managers at Citadel won’t be around to see what happens next.  Bloomberg reported that the hedge fund fired four portfolio managers last week. Chris Conner, Tio Charbaghi, Steve Bergman, and Chip Fortson are out, according to the report. The four all worked in Citadel’s Global Equities group. The timing coincided with the hiring of Justin Lubell, a Point72 alum, to take over that group.

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Bill Ackman at Pershing: He’s really pushing it
August 16, 2019

What a stark difference. The S&P500 is up 17.35% through June 30, while Bill Ackman’s Pershing Square Holdings, his publicly traded vehicle, rose 45.3%. This, despite 2019 being the best…

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Crescat Capital Celebrates the “Macro Trade of the Century”
August 16, 2019

This August one couldn’t have called it better: long precious metals, short yuan, and short equities Those are the three legs of Crescat Capital’s “macro trade of the century,” and…

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Bill Ackman: Berkshire Stock to “Increase Substantially”
August 15, 2019

Has Pershing Square been summoned to bail out the Oracle of Omaha? Bill Ackman said in a letter to shareholders that Berkshire Hathaway stock will bolster returns for the fund….

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Harry Markopolos: GE Operating $38B Accounting Scam
August 15, 2019

Markopolos working with an unnamed hedge fund that is shorting GE Harry Markopolos is an accounting expert reputed for exposing Bernie Madoff’s Ponzi scheme. On Thursday, Markopolos released a 170-page…

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Lapis Advisers Pressures University on Technical Default
August 15, 2019

Bethune-Cookman University, in technical default on bonds worth $17 million, is under fire from hedge fund Lapis Advisers, the largest holder of those bonds Lapis Advisers and bond trustee U.S….

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Pershing Square Bets on Warren Buffett
August 15, 2019

Bill Ackman’s secret investment we discussed last week was just a big bet on Berkshire Hathaway Pershing Square Capital Management has made a passive investment on Warren Buffett. A new…

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Yield curve inversion flashes recession warning
August 14, 2019

Yield curves have inverted on both sides of the Atlantic following the release of weak economic data across the globe Yield curve inversion, a phenomenon where longer-term yields fall below…

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One of Asia’s oldest hedge funds warns of looming ‘distressed cycle.’
August 14, 2019

The US-China trade war and growth concerns are likely to push up debt defaults in the region As default rates in China tick up, a distressed cycle is looming on…

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Argentina’s Stock Rout Hammers Newfoundland Capital Management
August 14, 2019

Newfoundland Capital Management, a Brazilian asset manager, had $300 million in a long-only fund that invested heavily in Argentine stocks The fund’s losses could be substantial given that Argentina’s key…

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SEC Approves Hedge Fund Backed by Jon Corzine
August 13, 2019

The approval comes with many restrictions… begging the question “what’s the point?” The SEC approved Jon Corzine’s new fund, despite protect from professionals in the financial community. The hedge fund…

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