New Breath of Life for Celina Hedgefond (Hedge Nordic)
Stockholm (HedgeNordic) – Celina Hedgefond, once a €1.4 billion Catella fund whose portfolio maintains low enough risk to inspire comparisons to a bond investment, delivered a near zero return to investors over the six years ending 2021. Up 5.3 percent so far in 2022, the low-risk multi-strategy hedge fund has received a new breath of life since the appointment of Bodenholm founder Per Johansson as the CIO of the fund’s management company – now in the process of being acquired by Case Group.
Big Short Investor Burry Warns of ‘Last Hurrah’ (Investing.com)
Michael Burry, the well-known “Big Short” investor, warned that recent positive earnings reports might be the last for a while as economic uncertainty continues. Burry, the founder of hedge fund Scion Capital, is famous for being one of the first investors to predict and profit from the subprime mortgage crisis. He has become increasingly bearish on current market conditions, previously warning that inflation poses a fresh threat to markets and that geopolitical tensions, labor shortages, and supply chain difficulties would “raise long-term inflation’s floor.”
Point72 Expands Global Economics Team with Key Hires in New York and London (Hedge Week)
Point72 has expanded its economics team with the addition of Sophia Drossos as economist and strategist based in New York, and Soeren Radde as head of European economic research, based in London. Drossos will cover US and global economic and policy developments, while Radde will analyse and forecast the euro area and UK economies. They join Point72’s existing team of economists, led by Head Economist Dean Maki, and also including Joy Yang, the Firm’s head of Asian economic research based in Singapore.
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How the Chief of Staff of a $5 Billion Hedge Fund Focused on Crypto and Blockchain is Influencing Policy and Legislation on Digital Assets (Business Insider)
Emma Rose Bienvenu wears a lot of hats at one of the oldest cryptocurrency and blockchain-focused hedge funds in the industry. As chief of staff of $5 billion Pantera Capital, Bienvenu spends half her time working directly with the firm’s chief investment officer, Joey Krug, helping to deploy capital and keeping a close eye on the markets. The other half is dedicated to interfacing with regulators and elected officials to help them understand how the cryptocurrency landscape intersects with securities law.
Cathie Wood Dumps Coinbase Shares for First Time This Year (Bloomberg)
Funds controlled by Cathie Wood dumped Coinbase Global Inc.’s stock for the first time this year as the the largest US crypto exchange faces a probe. Three Ark Investment Management LLC funds sold slightly over 1.41 million shares, which were worth about $75 million as of Tuesday’s close, according to Ark’s daily trading data compiled by Bloomberg. The firm’s flagship Ark Innovation ETF sold 1.13 million shares.
Why Activist Hedge Fund Elliott Management is Targeting PayPal (Financial News)
Payments giant PayPal finally has attracted an activist. PayPal had been a pandemic darling as households increasingly shopped online but shares have slid more than 60% this year as people returned to their pre-pandemic spending habits. Earlier this year, the company cut its 2022 earnings forecast, which led to the company’s worst one-day selloff in its history as a publicly traded company.
