Hedge Fund and Insider Trading News: Daniel Loeb, Ray Dalio, Cathie Wood, Route One Fund, Accendo Capital, Andera Partners, Douglas Elliman Inc (DOUG), JELD-WEN Holding, Inc. (JELD), and More

Bridgewater’s Dalio Warns of a ‘Perfect Storm’ for Economy (Reuters)
Ray Dalio, the billionaire investor who built Bridgewater Associates into one of the world’s biggest hedge funds, said a “perfect storm” is forming that will spread economic pain as the U.S. Federal Reserve raises interest rates. Dalio, who handed over control of the $150 billion firm to a new generation of investors this month, said government stimulus programs during the pandemic have created a bubble. Domestic tension in the U.S. population caused by “irreconcilable differences” and a yawning wealth gap, combined with international conflicts, are contributing to the perfect storm, he said.

Hedge Fund Manager Chris Brown Gives Himself a ‘C’ (Institutional Investor)
Aristides Capital’s long-short funds are down around 4.5 percent this year. Aristides Capital has managed to keep its losses in check as markets have plummeted — but founder Chris Brown is still kicking himself for not doing better. “If I had to grade my performance,” he said in a recent letter to investors, “it would be about a C.” The firm’s hedge funds lost about 4.5 percent last month, putting them down around the same amount for the first nine months. “Across the board, it was a yucky, no good, terrible month,” Brown said.

Daniel Loeb’s $17B Hedge Fund Invests in Crypto Through Coinbase (CoinDesk)
Influential investor Daniel Loeb has laser eyes for bitcoin. S.E.C. filings show the investor’s hedge fund, Third Point LLC, is registered with Coinbase’s custody arm. “The Hash” panel discusses the Loeb crypto revelation and what Third Point’s association with Coinbase means for the platform.

Image by MayoFi from Pixabay

Cathie Wood’s ARKK Is on the Verge of Taking Out Its Covid Low (Bloomberg)
The drubbing in Cathie Wood’s flagship exchange-traded fund threatens to take out its low reached during the depths of the pandemic. The $7.1 billion ARK Innovation ETF (ticker ARKK) extended a three-day slide to about 11%, heading toward its lowest since March 2020. The fund has plummeted 62% so far in 2022, more than twice the pace of the plunge in S&P 500.

Accendo Appoints Kai Tavakka as Managing Partner (Hedge Nordic)
Activist investor Accendo Capital has appointed its long-serving partner Kai Tavakka as Managing Partner to manage and develop the asset manager’s business operations. With Tavakka responsible for the managing partner role at Accendo, founder Henri Österlund and senior partner Mark H. Shay can completely focus their time and efforts on managing Accendo’s concetrated portfolio and engaging with the underlying investments.