Top-Ranked Hedge Fund Chief Sees S&P 500 Entering ‘No Man’s Land’ (Bloomberg)
Harnisch sticks to view that market is in a big trading range. Firm sold out of Amazon, Alphabet while buying MasTec shares. Bill Harnisch is on a roll. Assets in his Peconic Partners hedge fund are ballooning thanks to a near-perfect run of market timing that included shorting last year’s bear market and pivoting long just as the tide turned. So when he says the party is over, it’s a view worth considering.
Hedge Fund Manager Boaz Weinstein Accuses BlackRock of Governance Failure (Observer.com)
Boaz Weinstein, the founder and chief investment officer of New York hedge fund Saba Capital Management, is taking up a fight against BlackRock, the world’s largest asset manager, over a group of closed-end mutual funds his firm invests in. In a set of tweets this week and documents filed with the SEC last month, Weinstein accused BlackRock of corporate governance failures and poor portfolio management. He alleged that the asset manager tried to block outsiders like Saba Capital from gaining board seats at some of its funds and effecting changes.
Don’t Celebrate the Death of Inflation Yet, Bridgewater’s Co-Chief Investor Warns (Business Insider)
Reports of inflation’s death are greatly exaggerated, the co-chief investor of the world’s largest hedge fund says. “Inflation has come down but it is still too high, and it is probably going to level out where it is,” Bob Prince of Bridgewater Associates told the Financial Times. “We’re likely to be stuck around this level of inflation.”
Photo by Austin Distel on Unsplash
Billionaire Hedge Fund Manager Who Was Key DeSantis Backer ‘has PAUSED Support for Florida Governor’s Ailing 2024 Campaign After “Growing Impatient” With His Poor Performance’ (DailyMail.co.uk)
A billionaire Republican donor who previously signaled plans to support Ron DeSantis in his presidential bid is reportedly growing impatient with the Florida governor’s struggling primary campaign. Ken Griffin, founder of Miami-based hedge fund Citadel, is frustrated with DeSantis’ lack of progress in the GOP primary race, and has ‘hit the pause button’ on his support, ABC News reported on Thursday, citing a person familiar with Griffin’s thinking.
How To Invest Like Bill Ackman (Forbes)
Bill Ackman is the founder and CEO of Pershing Square Capital Management, a hedge fund management company and he is a well-known activist investor. Forbes estimates that Ackman is worth $3.6 billion. Understanding Bill Ackman’s Investment Philosophy: Activist investors, also known as shareholder activists, buy a large stake in a company they view as underperforming, then exercise their rights as partial owners to influence that company’s management and board of directors to make changes that will lead to increased value.
