AQR Strips ‘Risk Parity’ Name From Mutual Fund After Redemptions (Bloomberg)
AQR Capital Management’s flagship risk parity mutual fund, which has suffered big outflows, will no longer be billed as a risk parity fund. The firm, which helped popularize the investing style, is changing the name and tweaking the strategy for its $344 million AQR Risk Parity Fund, according to a November regulatory filing. The rebranded AQR Multi-Asset Fund will have more leeway to bet against stocks and bonds, among other changes, which may help it navigate volatile markets.
$9 Billion Hedge Fund Manager David Abrams, Who Rarely Makes Public Appearances, Lays Out His Investing Strategy – and Cautions Against Being Too Patient (Business Insider)
David Abrams, who manages nearly $9 billion with his fund, Abrams Capital, rarely makes public appearances. He told attendees at a New York conference on Friday that while a short-term-only focus from investors will only end up hurting a company in the long term, managers can actually be too patient. “The long term is made up of a lot short terms,” said Abrams, who is a protégé of Baupost‘s Seth Klarman. He derided investors who look for the easy way out, saying there’s “no algorithm” for investing.
Lampert’s Hedge Fund Makes Bid for Sears Stores and Assets (The Wall Street Journal)
Lampert’s Hedge Fund Makes Bid for Sears Stores and Assets. Edward Lampert, the chairman and biggest creditor of Sears Holdings Corp., has made an offer to buy the retailer’s stores and other assets out of bankruptcy court in a bid to keep control of the struggling chain.
Ray Dalio on the Next Financial Crisis, How He Started his Own Hedge Fund, Transparency at Work, and More (Business Insider)
At IGNITION 2018, Ray Dalio of Bridgewater Associates talked about starting his own hedge fund, recovering from big mistakes, what the next financial crisis will look like, transparency at work, and more.