Hugh Hendry On The Thirst For Dollar Assets (Bloomberg)
For years 15 years, Hugh Hendry ran the hedge fund Eclectica Asset Management, earning a reputation as a provocative and contrarian thinker on the entire state of the world economy. These days though, he’s living in St. Bart’s, surfing, and managing luxury properties for the richest people in the world. But of course, he can’t stop thinking about macro. On this episode off Odd Lots, Hendry joins Tracy Alloway and Joe Weisenthal to talk about Europe’s big energy mistake, China’s property troubles, and why even after all this time, the world can’t get enough dollar assets.
Ackman Says He Is Done With Activist Short Selling (The Wall Street Journal)
William Ackman said he is saying goodbye to the activist short-selling game. Mr. Ackman, the founder and chief executive of Pershing Square Capital Management, which previously engaged in a yearslong battle against Herbalife Nutrition Ltd., said his fund will be less vocal about its positions and more cordial with the companies he invests in.
Anthony Scaramucci Says He’s ‘Not Quite Convinced’ on the Recession Signal the Bond Market Flashed (CNBC)
A key signal of recession flashed in the bond market this week, but SkyBridge Capital’s Anthony Scaramucci told CNBC that he would be cautious on predicting there would be a downturn. On Monday, the U.S. 5-year and 30-year Treasury yields inverted for the first time since 2006. On Tuesday, the yield spread between the 2-year and the 10-year rate came close to inverting but stayed positive.
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Hedge Fund Appoints Ex-Standard Chartered Trader (Hedge Week)
Complus Asset Management has appointed former Standard Chartered in Singapore trader and executive director, Siddhartha Soni, according to a report from efinancial careers. Soni joined Complus Asset Management as a Singapore-based portfolio manager earlier this month. From September 2019, he worked as a rates and FX trader in emerging/ frontier markets, and previous roles include working as a trader for JP Morgan and on ICICI’s Bank’s proprietary trading desk.
Yellow Wood Partners Clinches $750m Fund (Opalesque)
Consumer-focused private equity firm Yellow Wood Partners has struck its $750m hard cap for the final close of its third fund Yellow Wood Capital Partners III. The new fund was oversubscribed and included capital commitments from many of Yellow Wood’s long-time limited partners as well as the addition of a small number of new investors comprised of university endowments, family offices, and other institutional investors, said a press release from the Boston-based private investment firm.
