What Does Ray Dalio Give as a Gift? A Financial Lesson Worth Its Weight in Gold. (Barron’s)
Need an idea for a holiday gift? The founder of the world’s largest hedge fund has a simple suggestion. Ray Dalio, founder of Bridgewater Associates, gives each of his grandchildren a gold coin for every holiday and birthday. The yellow metal is the best way to get young people excited about saving, he says.
Third Point’s U.K. Fund Chairman Resigns After Receiving ‘Personal Threats’ (Bloomberg Quint)
(Bloomberg) — Dan Loeb’s Third Point said the chairman of its London-listed fund, Steve Bates, resigned after receiving “personal threats” from activist investors. Loeb, the billionaire hedge fund manager known for waging his own activist campaigns, said Bates’s departure is a “loss for all shareholders” of Third Point Investors Ltd. and that the “juvenile antics smack of desperation and inexperience,” according to a statement Thursday. The closed-end fund has been fighting with Asset Value Investors and Staude Capital, which had been agitating for policy changes to address the fund’s wide trading discount to its assets. The fund invests in Loeb’s $20 billion flagship hedge fund.
Chase Coleman Did a Deep Dive on 20 Years of Blowout Performance at Tiger Global and Shared His Strategies for Getting in Early on the Next Amazon (Business Insider)
While 2021 has been bumpy for Chase Coleman‘s Tiger Global Management, by some measures it was the top hedge fund of 2020. Riding a 48% return from its flagship fund, the firm returned $10.4 billion to its investors in 2020, the most among the 20 top-performing hedge funds tracked by LCH Investments, a fund-of-funds firm.
Hedge Funds Kick Risk Addiction at End of Crazy Year for Stocks (Bloomberg Quint)
(Bloomberg) — Calm has finally come to a stock market that for weeks had been swinging violently. Bulls who hung tough are ending the year on firm footing after a frenzied off-loading of risk by professional speculators. December’s big sellers were hedge funds, which, chastened by wrong-way bets on high-flying software firms, spent the month slashing high-momentum trades. It helped make this one of the most volatile year-ends for big-cap tech in the past decade, with the absolute size of close-to-close moves in the Nasdaq 100 clocking in around 1.4%.
Panthers’ Matt Rhule Expected Back in 2022, But Owner David Tepper could Still Make Changes, Per Report (CBSSports.com)
Matt Rhule isn’t yet two full seasons into the seven-year, $62 million contract he landed with the Panthers in 2020. And those inside the organization believe the 46-year-old will return in 2022, according to Joe Person of The Athletic. But that doesn’t mean things can’t change in the final three weeks of the season, Person reports, with notably aggressive owner David Tepper frustrated over a fourth straight losing season and not publicly committed to Rhule beyond 2021.