Hedge Fund and Insider Trading News: Ken Griffin, Cathie Wood, Kenneth Tropin, Elliott Associates, Tiger Global Management, Coatue Management, Cable One Inc (CABO), Iovance Biotherapeutics, Inc. (IOVA), and More

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Highflying Tiger Global Humbled by Unraveling of Giant Tech Bet (The Wall Street Journal)
Tiger Global Management rode the tech boom like no other investment firm. It was funding more startups than any other U.S. investor when the market peaked last year, and had tens of billions of dollars from pensions, endowments and rich clients riding on some of Silicon Valley’s hottest stocks. With tech values plunging, the New York firm is humbled. The market rout has vaporized years of gains in a matter of months, calling into question Tiger’s big bets.

Citadel’s Flagship Portfolio Up 13%, Far Outpacing Broader Stock Market (Reuters)
NEW YORK, June 6 (Reuters) – Hedge fund Citadel posted a modest rise in its flagship portfolio last month and now boasts gains of 13% for the year, far outpacing the broader stock market’s double digit losses. Ken Griffin‘s Citadel told investors that its multi-strategy Wellington fund inched up 0.23% in May when the S&P 500 index (.SPX) ended flat. May’s small increase follows a more robust 7.45% gain in April when the S&P tumbled nearly 9%.

Cathie Wood’s Flagship Fund Up 17% Since May Bottom: What’s Behind The Rise? (Benzinga)
Cathie Wood-led Ark Investment Management’s flagship innovation fund, which counts Tesla Inc (TSLA), Zoom Video Communications Inc (ZM) and Coinbase Global Inc (COIN) as top constituents, has rallied 18% higher since bottoming out in May. What Happened: Ark Innovation ETF (ARKK) declined over 10% on May 11 after shares of Coinbase plummeted 26.4% after the cryptocurrency trading platform swung to a $430 million net loss in the first quarter and reported massive declines in active users.

Countries with the Smallest Government Per Capita in the World

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Graham Capital Founder Says Market Conditions are Good for Macro Traders (Hedge Week)
Graham Capital founder Kenneth Tropin believes hedge funds are currently experiencing the best conditions for trading bonds and currency markets since the global financial crisis of 2008, according to a report by The Financial Times. Graham cites high levels of inflation and supply chain bottlenecks for the creation of favourable conditions that are allowing macro managers to benefit as central banks rapidly raise interest rates to combat surging inflation.

‘Big Short’ Investor Michael Burry Warns the US Economy is on Borrowed Time — and Consumers will Blow Through Their Savings in a Matter of Months (Business Insider)
The US economy is being propped up by consumers cracking open their piggy banks, and could capitulate once their savings dry up later this year, Michael Burry warned in a recent, now-deleted tweet. “Charting Total US Personal Savings/GDP,” he wrote. “Red line is the all-time low at 1.5%, set in July 2005. At the last 12mos’ rate of depletion of savings, could hit that level between September and December this year. Borrowing time.”






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