Bridgewater’s Pure Alpha is Pure Gold in the First Quarter (Institutional Investor)
The world’s largest hedge fund firm is closing the macro strategy to new investors. Bridgewater Associates’ Pure Alpha fund has gotten off to one of its best starts in recent memory.The flagship macro strategy of the world’s largest hedge fund firm surged 9.23 percent in March and 16.34 percent in the first quarter, according to people familiar with the results.
Crypto Values will Skyrocket to $500,000, Says Scaramucci (AFR.com)
This is an edited transcript of a video interview conducted by Tom Richardson with SkyBridge founder and managing partner Anthony Scaramucci. Tom Richardson: Could you talk to us a bit about SkyBridge and how you talk to clients about investing in crypto? Anthony Scaramucci: SkyBridge is a 17-year-old firm. What SkyBridge basically does is three things. It’s a pension advisory firm. It’s a fund of US- based primarily hedge funds and, about 18 months ago, we made a strategic decision to pivot into digital assets.
Chicago Area Gets a Greater Share in Forbes’ Billionaire Ranking (Chicago.SunTimes.com)
Ken Griffin is still No. 1 in the local standings, while insurance investor Patrick Ryan moves to No. 2, and new names join the list. The Chicago area has minted four new billionaires, increasing its presence in the ranks of the world’s richest people despite a volatile market that lowered the net worth of many peers, Forbes said Tuesday. Publishing its 36th annual World’s Billionaires List, the business magazine said its 2022 data includes 25 people from Chicago or its suburbs, including four new to the exclusive club. In 2021, the Chicago region had 23 billionaires, in Forbes’ reckoning. The net gain accounts for two people who dropped from the list.
Quant-Driven Funds Including Bridgewater and D.E. Shaw Thrived in What was a Disastrous Quarter for Many Managers (Business Insider)
In a chaotic quarter, it’s the computers that came out on top. While stock-picking managers like Tiger Global, Melvin Capital, and Whale Rock fell by double-digits through the year’s first three months, quant-driven firms like D.E. Shaw, Bridgewater, and Renaissance Technologies had strong returns thanks partially to positive gains in March.
Gabe Plotkin’s Melvin Capital Ends First Quarter With 20.6% Loss (Bloomberg)
It was another rough start to the year for investors in Gabe Plotkin’s Melvin Capital Management, with the hedge fund tumbling 20.6% in the first quarter, according to people familiar with the matter. The fund fell 3.8% in March, marking the third straight month of declines, the people said, asking not to be identified discussing information that isn’t public. The losses follow a tumultuous 2021, when New York-based Melvin Capital ended the year down 39%.