Tepper: Market will survive in spite of Greece (CNBC)
Billionaire hedge fund manager David Tepper told CNBC a Greek debt deal would be “obviously be good for the markets,” but added stocks “could survive even if it goes the other way.” Tepper, the founder and president of Appaloosa Management, said Tuesday: “Stocks could fall 2 percent to 3 percent or maybe 4 percent.” He argued, however, that’s “not a big deal [and] the market will be fine this year.”
Peltz Softens Stance on Splitting DuPont (Reuters)
Activist investor Nelson Peltz’s hedge fund said it was “open-minded” about keeping DuPont together, after agitating for months to break up the chemical conglomerate. Trian Fund Management LP detailed the change in strategy on Wednesday, while urging DuPont shareholders to vote Nelson Peltz and three other nominees to the board. “Trian does not see this election as a referendum on separating the businesses, but rather a referendum on DuPont’s financial performance,” the fund said in a letter to DuPont shareholders.
Woman’s $8.2 Billion Firm Is Off To A Huge Start (CNBC)
The most powerful woman in hedge funds is off to a red-hot start at the helm of her own firm. Leda Braga—who launched Systematica Investments in January after years under prominent European hedge fund firm BlueCrest Capital Management—steered her $7.6 billion flagship BlueTrend fund to a 9.52 percent gain net of fees last month, according to a private performance update sent to investors.
Hedge Fund Star Gives Warning for Road Ahead (CNBC)
Kenneth Griffin, whose Citadel hedge funds manage $24 billion in assets, said in a letter to investors Monday that he is approaching 2015 with “vigilance” in light of tumultuous market circumstances. “Market conditions remain uncertain,” wrote Griffin, founder and CEO of the Chicago-based money manager, in a letter dated Feb. 9. “A half-decade of unprecedented government intervention and monetary stimulus continues to impact the global financial markets.” “We continue to challenge our assumptions [and] assess our portfolio’s risk,” Griffin added in the letter.