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.
Quant Powerhouse Two Sigma Moves to Hire Flesh-and-Blood Traders (Bloomberg)
Two Sigma Investments, the quant hedge-fund giant known for using computer-driven algorithms to make money, is for the first time exploring ways to add traders who rely on their human judgment to make money as the $60 billion investing firm looks to diversify its strategies. New York-based Two Sigma, which uses machine learning and big data to make systematic trades, has hired some staff and is interviewing traders and researchers, according to people familiar with the matter. The move into discretionary investing will target talent for equities, macro and fixed-income investments, one of the people said, asking not to be identified because the details are private.
VideoCast : Hedge Fund Tips with Tom Hayes (Investing.com)
For many months we have been saying (in our weekly podcast|videocast) that June, July and August would be the months we would see headline inflation collapse to the mid to low 3% levels. This estimation was realized this week for the June numbers.
Millennium Taps Another Goldman Commodities Trader (Hedge Week)
Millennium has added another Goldman Sachs commodities trader to its team, with Katie Edin, a Vice President in the bank’s natural gas trading division in New York, joining the multi-strategy hedge fund major, according to a report by eFinancial Careers. Edin’s arrival at Millennium follows the appointment of Goldman’s oil trading ‘superstar’ Anthony Dewell, who made the switch in October last year.
Thomas Wagner on Sports Investing With Tom Brady (Bloomberg)
Bloomberg Radio host Barry Ritholtz speaks with Thomas Wagner, co-chairman and co-founder of Knighthead Capital Management LLC, which has $10 billion in assets under management. He is a co-investor, with Tom Brady, in several sports assets, including a pickleball team, the English Football League’s Birmingham City club and an endurance auto racing team. Before founding Knighthead Capital, Wagner was a managing director responsible for running the distressed and high-yield credit trading desks at Goldman Sachs & Co. Wagner began his career doing hedge fund accounting at Ernst & Young; prior to joining Goldman in 2000, he was a high-yield trader and special-situations desk analyst at Credit Suisse First Boston.
More Than $3M Bet On Asana? Check Out These 3 Stocks Insiders Are Buying (Benzinga)
Asana: The Trade: Asana Inc. (ASAN) President, CEO and Chairman Dustin Moskovitz acquired a total of 160,000 shares an average price of $21.34. To acquire these shares, it cost around $3.41 million. AMREP: The Trade: AMREP Corporation (AXR) 10% owner Rainey Lancaster acquired a total of 25,361 shares at an average price of $14.82. To acquire these shares, it cost around $375,917.
