Brevan Howard, Stone Milliner Founders Back Data Firm Qi (Reuters)
LONDON (Reuters) – Two of Europe’s leading macro hedge fund investors are backing a machine learning data analytics firm that aims to give traders an edge in picking winning bets across stocks and indexes. Alan Howard, founder of Brevan Howard, and Jens-Peter Stein, founder of Stone Milliner, took part in the latest funding round for analytics firm Quant Insight (Qi), which aims to show how stocks are influenced by macroeconomic factors. Qi said 80 percent of the money raised in the “multi-million-dollar” financing came from clients, although specific details were not disclosed.
Crispin Odey’s Hedge Fund Is Making Money Again (Bloomberg)
Crispin Odey is making money again as markets start to reflect his bearish outlook. The flagship Odey European Inc. fund returned 2.9 percent in June, its sixth straight monthly advance, according to an investor update seen by Bloomberg News. The gains mark the hedge fund’s longest winning streak since 2013 and boost returns for the first half to 23 percent. Selloffs have led equity hedge funds to return less than 1 percent on average in 2018, according to preliminary estimates from Eurekahedge. Odey predicted a market crash for years, and until now suffered deep losses when his forecasts didn’t come true.
‘This is Unbelievable’: Hedge Fund Star Dims, and Investors Flee (FNLondon.com)
For years, David Einhorn’s investors did not seem to mind his unusual ways – the aloofness toward clients, midday naps, unpopular stock picks, late nights on the town. Until the billionaire hedge fund manager fell into a slump. After more than a decade of winning on Wall Street, Einhorn’s Greenlight Capital has shrunk to about $5.5bn in assets under management, his investors estimate, from a reported $12bn in 2014, and his investments are struggling. “My patience is wearing thin,” said Morten Kielland, chairman of investment-management firm Key Family Partners SARL and an early Greenlight investor, who said he has withdrawn much of his firm’s money from the fund. “This is unbelievable.”