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Hedge Fund News: Ray Dalio, David Einhorn, Groupon Inc (GPRN)

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Editor’s Note: Related tickers: UBS AG (USA) (NYSE:UBS), Morgan Stanley (NYSE:MS), Goldman Sachs Group, Inc. (NYSE:GS), Groupon Inc (NASDAQ:GRPN), J.C. Penney Company, Inc. (NYSE:JCP), Herbalife Ltd. (NYSE:HLF), Market Vectors Gold Miners ETF (NYSEARCA:GDX), BlackRock, Inc. (NYSE:BLK)

Hedge Fund Managers Rake In Billions Yet Can’t Beat A Simple Index Fund (Huffington Post)
BRIDGEWATER ASSOCIATESSeveral of the world’s top hedge-fund gurus took home billions of dollars in pay last year despite their inability to beat a simple index fund, according to the latest ranking of top hedge-fund money makers by Institutional Investors’ Alpha magazine. The rankings were first reported by the New York Times, which led off with the fact that a few of these managers actually did beat the market, which is sadly what counts for headline news when it comes to hedge funds. Bridgewater Associates honcho Ray Dalio was No. 2 on the Institutional Investors list, with take-home pay of $1.7 billion, even though Bridgewater’s top fund, Pure Alpha, returned just 0.8 percent last year.

Wall St. Vet Langbert Joins Englander’s MA&PS (FINalternatives)
Millennium Management chief Israel Englander’s Managed Accounts and Prime Services division has tapped Wall Street vet Brett Langbert as managing director. Langbert, who just last year became president and COO of HedgeCo Networks and president of HedgeCo Securities, has also worked at UBS AG (USA) (NYSE:UBS), Morgan Stanley (NYSE:MS) and Goldman Sachs Group, Inc. (NYSE:GS).

FX Concepts’ Taylor Says Yen’s Decline May Reach 130 Per Dollar (Bloomberg)
The yen may drop to 130 to the dollar before paring losses, according to John Taylor, founder and chief executive officer of the currency hedge fund FX Concepts LLC. Unprecedented stimulus measures announced by the Bank of Japan under Governor Haruhiko Kuroda on April 4 will continue to devalue the currency for the next few months, New York-based Taylor said in an interview on Bloomberg Television’s “Market Makers” with Erik Schatzker and Sara Eisen. The yen will probably stabilize and strengthen back to parity with the dollar by September, Taylor said.

Sharp gold sell off caught many funds off-guard: Burbank (Reuters)
Hedge fund manager John Burbank, a long-time investor in gold, said the recent sharp selloff in the precious metal came as a surprise to many investors as some economic improvement and a general decline in commodity prices took their toll. The San Francisco-based manager called last week’s dramatic decline an “unexpected event” that caught some hedge funds off guard because they were betting that inflation would rise at a time global central banks are sticking to easy monetary policy.

Citadel CEO Ken Griffin’s pay nears 10 figures (Crain’s Chicago Business)
Kenneth Griffin, head of Chicago-based hedge fund Citadel LLC, had a good 2012 — his payday totaled $900 million, according to the New York Times’ DealBook blog. DealBook notes that amid continued criticism of Wall Street titans’ compensation and bonuses, Mr. Griffin is among hedge-fund leaders who “earned their riches the old-fashioned way: by posting big returns on their investments.”

SAC Sued By Drug Co. Investors In Insider-Trading Case (FINalternatives)
An investor in one of the drug companies whose shares were allegedly traded illegally by SAC Capital Advisors has sued the hedge fund. The Birmingham Retirement & Relief System suit, filed in Manhattan federal court on Friday, seeks class-action status, alleging that SAC’s trades hurt Wyeth LLC’s shares. BR&RS is an investor in the pharmaceutical company. Former SAC portfolio manager Mathew Martoma has been accused of trading on confidential information about a Wyeth and Elan Corp. Alzheimer’s drug trial, saving SAC some $276 million.

3D Systems Corporation (DDD), Groupon Inc (GRPN), Pandora Media Inc (P) & More: Hedge Fund Tiger Global’s Small Cap Picks(Insider Monkey)
Tiger Global was founded by several former employees of legendary investor Julian Robertson’s Tiger Management. We track its quarterly 13F filings alongside those of many other hedge funds and other notable investors, and have found that the most popular small cap stocks among the filers we track outperform the S&P 500 by 18 percentage points per year on average. Tiger Global had Groupon IncGroupon Inc (NASDAQ:GRPN) as one of its five largest holdings by market value at the end of the fourth quarter of 2012, with 65 million shares in its portfolio.

Credit: Groupon Inc (NASDAQ:GRPN)

Hedge fund manager Paulson to start fund for tax reduction (LifeHealthPro)
Legendary hedge fund manager John Paulson, who made an estimated $15 billion for investors by shorting the real estate market before its 2008 crash, is starting a fund to help investors reduce their tax bill. Tax reduction strategies have been a focus for Paulson of late, and he recently considered…

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