Billionaire Chris Rokos’s Hedge Fund Recoups 2023 Losses After July Gains (Bloomberg)
Billionaire Chris Rokos’s macro hedge fund posted a 3.7% gain in July, helping it to fully recover losses from earlier this year. The money pool, one of the world’s top macro hedge funds with more than $14 billion in assets, has now returned 2.7% for the year through July, according to people familiar with the matter, who asked not be identified because the information is private.
Leading London Hedge Fund Takes €49m Short Bet Against Smurfit Kappa (BusinessPost.ie)
Marshall Wace, one of the world’s largest hedge fund management firms, has taken a bet against the shares of Smurfit Kappa, the Irish paper and packaging company. The firm, which was founded by Paul Marshall and Ian Wace in 1997, is shorting 0.51 per cent of the company’s shares. At the company’s current share price of close to €37, the bet is valued at around €49 million.
Many of World’s Largest Hedge Funds Face UK Stress Test (The Guardian)
Many of the world’s largest hedge funds will reveal whether their investment activities risk amplifying economic shocks and harming the UK’s financial system, after being recruited into the first-ever stress tests involving the shadow banking sector. The Bank of England has released the names of more than 50 City institutions taking part in the exercise, which will measure the ways that banks and non-bank financial institutions – often referred to as the shadow banking sector – affect financial stability.
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S&P 500 could Decline by 10% by Year-End, Says Hedge Fund Manager (ClaytonCountyRegister.com)
Hedge fund manager Dan Niles believes that the S&P 500 could experience a 10% decline by the end of the year to correct for its recent rise in valuation multiples. Currently, the benchmark index is valued at a forward price-to-earnings (P/E) ratio of 21x, even after a 2.4% decrease last week. Niles, who manages The Satori Fund, compared this valuation to the average forward P/E of 19x over the past seven years with 3% inflation.
Hedge Fund Billionaire Says This Strategy Beats Fundamental Analysis (Cryptosaurus.tech)
Hedge fund billionaire Dan Loeb, chief executive of Third Point, highlighted an emerging trend in traditional markets that is leading fundamental analysis. The renowned investor expressed concern about the growing dominance of retail traders in shaping market trends. Particularly from platforms like Reddit’s WallStreetBets. The power of Reddit message boards: by Dan Loeb comments stem from his observation that “fundamental analysis is increasingly taking a backseat to monitoring daily option expiries and Reddit message boards.” This claim came as a response to the increase in meme stocks. Also, everyday traders began to outbid Wall Street professionals by betting against them. Such events led to mind-blowing rallies at companies.
