Bill Ackman’s Comeback is on Fire with the Hedge Fund Manager Up Nearly 40% this Year (CNBC)
Things are looking pretty good for activist investor Bill Ackman. The net asset value of Pershing Square Holdings, Ackman’s publicly traded vehicle, rose 36.9% in the first quarter of 2019 and remains up more than 38% so far this year, according to a shareholder letter released Friday. By comparison, the S&P 500 is up 14.7% and has returned 15.6% this year.
Big US Hedge Funds Regain Ardor for FAANGs in First Quarter: Filings (The Epoch Times)
Some of the biggest, highest-profile U.S. hedge fund investors and money managers fell back in love with FAANGs in the first quarter, according to regulatory filings released this week. After dumping shares of Facebook Inc., Apple Inc., Amazon.com Inc., Netflix Inc., and Alphabet Inc. -the FAANG components -prominent hedge fund managers including Tiger Global Management LLC. have moved back into the popular group. Tiger, managed by Chase Coleman, boosted its Facebook stake by 64.5% to 8.8 million class A shares during the first quarter, according to a filing with the Securities and Exchange Commission. It increased its stake in streaming company Netflix by 42.8% to 2.1 million shares. Soros Fund Management LLC opened a new stake in Netflix, holding 50,000 shares, at the end of March.
These 9 Hedge Fund Managers Made An Enormous Amount Of Money Last Year (CelebrityNetWorth.com)
The difficult year was capped off with insane volatility in the fourth quarter. Despite this, the following nine hedge fund managers brought home crazy salaries. There are some familiar names who make the list perennially, like David Shaw, Ray Dalio and Ken Griffin. Other famous hedge fund managers that failed to make the list this year are Third Point‘s Daniel Loeb and Appaloosa Management‘s David Tepper. In fact, 12 of 25 hedge fund managers that made last year’s list of the highest paid failed to make this list.
‘Godfather of the Hedge Fund’, Lord Fink, Becomes Chair of Offsite Home Builder (GlobalConstructionReview.com)
Panelised house builder Project Etopia’s main investor, Lord Stanley Fink, has joined the firm’s board as its chairman. Described as the “godfather of the hedge fund industry”, Fink has been a treasurer of the UK’s ruling Conservative Party, and was chief executive of Man Group, a hedge fund, until 2008. He has invested £7m in Project Etopia, which was founded in 2015, and which opened a factory in Ellesmere Port, Cheshire, with a capacity to produce 2,000 panelised homes a year.
Hedge Fund Billionaires Were Democrats’ Main Bankrollers in 2018 (TruthOut.org)
In the 2018 midterms, Democrats benefited more than Republicans from election spending by outside groups for the first time in recent history. Now, thanks to a new report from Public Citizen, we have a better understanding of where much of that money backing Democrats came from: wealthy individuals who earn their livings as hedge fund founders, bank executives, and other key positions in the financial industry.
Learning Robots are Hottest Weapon in Investing Arms Race (Pensions&Investments)
Maybe machines can figure out this crazy stock market. At least that’s what quantitative traders who have struggled to beat the market for years will be hoping as a band of their peers roll out computer-driven strategies that learn from their own mistakes. Lynx Asset Management, for one, is planning a new fund in October that executes strategies thought up by a machine – an approach that helped the $5 billion Swedish hedge fund beat most of its trend-following rivals in 2018.
Platinum Affiliates Say ‘Wagoner’ Kills Liquidators’ Claims (Law360.com)
Law360 (April 23, 2019, 7:47 PM EDT) — More than a dozen sets of defendants in a suit over the collapse of Platinum Partners say a Second Circuit rule prevents the hedge fund’s liquidators from suing them for Platinum’s…