Tory Donor Chris Rokos Makes a Fortune from Market Turmoil (The Times)
Chris Rokos, the billionaire financier and Conservative Party donor, is among a network of top hedge fund managers who have reaped huge returns during the crisis gripping the financial markets. Rokos, 52, whose Rokos Capital Management is one of the world’s biggest macro hedge funds with $14.5 billion in assets, is said to have been running a bet that UK borrowing costs will have to rise.
UK Names Billionaire Michael Hintze on List of 26 New Life Peers (Bloomberg)
The UK said billionaire hedge fund manager Michael Hintze is among 26 people nominated to take up seats in the House of Lords. Hintze was among 13 nominees from former Prime Minister Boris Johnson that also included five former Tory MPs: Winston Churchill’s grandson Nicholas Soames, Angie Bray, Graham Evans, Stewart Jackson and Hugo Swire.
Star Chinese Macro Hedge Fund Predicts Bull Market for China Stocks (Hedge Week)
Chinese macro hedge fund Shanghai Banxia Investment Management Center has called the bottom of the country’s stock rout and predicted that the country is on the verge of a bull market. The report cites an investor letter as revealing that the firm, which manages more than 10 billion yuan（$1.4 billion), has rebuilt net-long positions in the mainland-traded A-share market to 40% as of the end of last month. The firm, which is run by founder Li Bei, had reportedly maintained a low level of exposure since June before adding to its holdings last month.
Pixabay/Public Domain
Bridgewater is Famous for Giving Brutally Honest Feedback in Real Time. It’s Co-CEO Explains How the Hedge Fund is Shaking Up Its Notorious Culture. (Business Insider)
Bridgewater Associates‘ co-CEO Nir Bar Dea is looking to make some changes to its controversial culture as founder Ray Dalio takes a step back. “The ideas are different,” Dea said speaking at the Bloomberg Invest event Wednesday. “What we’re going to pursue is different. How we’re going to evolve that culture is different. How we go about those fundamentals are different, the hunger is different, the energy is different.”
Why Former GME Bull Tiger Global Is in Big Trouble (The Street)
Hedge fund Tiger Global has lost more than 52% this year. Its long-only fund is even worse, down 66% year-to-date. Tiger Global had a sizable stake in GameStop a few years ago. But it ended up selling its long position in GME at a loss. Why Is Tiger Global in Deep Trouble? This year has been terrible for hedge fund Tiger Global, which focuses on technology, software, consumer, and fintech companies. The fund, which The Wall Street Journal has identified as one of the “largest ever,” has already lost about two-thirds of its accrued value since its creation.
