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DailyAlts Playbook Talks Ackman’s Optimism, The Big “Short-ier”, Carbon Skeptics, and Now That’s Music 29

A number of funds saw massive gains during the breakdown in the market between February 20 and March 20. The latest manager to generate headlines is Kevin Smith at Crescat Capital. His two primary funds earned 40.5% and 34.5% during that period. Smith’s co-portfolio manager compared this selloff and their gains to the book The Big Short. While there are always winners, there are also losers. It appears that Bridgewater and Third Point, both run by dynamic managers, had a tough quarter. Bridgewater’s main fund reportedly lost 20% during the quarter. Dan Loeb’s Third Point had an 11% loss last month. Finally, Glenview shed 30% on paper during Q1.

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Venture Capital: Electric Vehicle Maker Rivian’s Monster Funding Round
December 26, 2019

Rivian just raised $1.3 billion from top-notch investors. The humongous new raise, led by T Rowe Price, added $1.3 billion to Rivian’s coffers. It included existing investors Ford Motor and…

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Digital Assets: Facebook’s Libra Rollout Plan Hazy
December 25, 2019

There is no concrete plan yet for the launch of the Facebook-led Libra digital currency, according to Reuters’ interview with Ellis. Though Libra is scheduled to roll out by June…

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Aberdeen Standard to Manage LF Woodford Income Focus Fund
December 23, 2019

Standard Life Investments will now manage the LF Woodford Income Focus fund, according to Link Fund Solutions. The arm of Aberdeen Standard Investments will replace Neil Woodford, whose flagship fund…

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Artificial Intelligence: Walmart’s Cutting Edge Use of AI and Machine Learning in Retail
December 20, 2019

Walmart straddles both brick-and-mortar and online, giving it a unique tech perspective. In new applications, Walmart uses machine learning, barcode technology, facial recognition, IoT, and RFID to enhance the shopping…

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Digital Assets: The ESCB has Proof-of-Concept of Anonymous Digital Currency
December 19, 2019

An ECB-coordinated project, conducted by the European System of Central Banks (ESCB), has established a proof of concept (PoC) for anonymity in digital cash, reports COINTELEGRAPH. The experiment does not…

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Sun Life Financial Takes Big Stake in Real Estate Manager
December 18, 2019

Sun Life Financial and its alternative asset management arm just received a boost. Sun Life announced it plans to purchase an 80% stake in the infrastructure and real estate investment…

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Alternative Investments: Bank of England Weighing Redemption Rejig for Open-Ended Funds
December 18, 2019

The Bank of England considers the liquidity mismatch in open-ended funds a potential “systemic risk.” After the recent debacles in the Woodford Equity Income Fund and M&G Investments property fund,…

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Hong Kong Funds See $5 Billion in Outflows
December 17, 2019

Hong Kong capital flight may have hit as much as $5 billion for investment funds in 2019. The figure comes from the Bank of England, which released its Financial Stability…

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Digital Assets: Fidelity Digital Assets Could Add Support for Ether in 2020
December 17, 2019

Fidelity’s crypto arm has already done a lot of work on Ethereum. Speaking in an interview with TheBlock, Tom Jessop, who is president of Fidelity Digital Assets, said the firm…

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Artificial Intelligence: AI May Put the Finishing Touches to Beethoven’s Tenth
December 16, 2019

A year of celebrating Beethoven’s 250th birthday starts today. The celebrations begin today in Bonn with the inauguration of Beethoven’s home as a museum after extensive renovations. This 250th year…

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