Bridgewater’s Greg Jensen Warns Markets Are Still ‘Overly Optimistic’ (Bloomberg)
Even after several tumultuous weeks that have seen both bonds and stocks tumble, Bridgewater Associates’ Greg Jensen says that markets are “overly optimistic” and investors have yet to adapt to a period of “secular change” that involves both higher inflation and slower growth. Speaking on an episode of the Odd Lots podcast, the co-chief investment officer of the world’s biggest hedge fund warned of a toxic brew for asset prices as the Federal Reserve raises interest rates and unwinds its balance sheet to deal with the highest inflation in decades.
Toshiba to Propose Elliott, Farallon Executives Join Its Board, Sources Says (Reuters)
TOKYO, May 23 (Reuters) – Toshiba Corp (6502.T) plans to propose giving two of its major hedge fund shareholders seats on its board, people familiar with the matter said, a move that could give foreign investors more influence over the troubled Japanese conglomerate. Toshiba plans to nominate executives from Elliott Management and Farallon Capital Management for board seats ahead of its annual shareholder meeting in June, said the people, who declined to be identified because the matter has not been made public.
Brevan Howard Ops Platform Coremont Hires New Head of BD (Hedge Week)
Coremont, the operational support platform for investment managers that spun out of Brevan Howard in 2018, has hired Chaim Hack as its new head of business development. Hack joined Coremont’s London office this month from Enfusion Systems where he spent ten years, most recently as director of EMEA business development. He has 15 years’ experience across buy-side, sell-side and fintech, including various roles within JP Morgan’s hedge fund and derivative service departments.
Hedge Fund Millennium Made a Big Technology Hire from Citi (eFinancialCareers)
As we reported last week, hedge fund Millennium Management is building out its technology team under CTO Vlad Torgovnik. Its latest big technology recruit is drawn from Citigroup. Leon Stiel, Citi’s global head of cross asset ETF technology, is joining Millennium in New York City as head of equities risk technology according to his LinkedIn profile. His arrival comes as Millennium is building out its technology team across New York, London Singapore, Dublin, Hong Kong, Tel Aviv, and is opening a new technology hub in Miami.
A New Hedge Fund is Launching This Summer That will Only Charge Performance Fees When it Beats Its Benchmark (Business Insider)
A new fund is coming from a young equity investor with experience in both the quant and fundamental worlds. Jared Kubin’s Issachar Technologies is set to begin trading later this summer, a source told Insider, with a fundraising target of $100 million, though that process is still in its early stages.
