This Billionaire Warns that America’s Massive Wealth Gap could Lead to Conflict (CNN Business)
New York (CNN Business) Ray Dalio, the billionaire founder of the world’s largest hedge fund, is deeply worried about a divided and profoundly unequal America as President-elect Joe Biden prepares to take power. Dalio is warning that leaders must urgently address the toxic brew of worsening inequality, political polarization and mounting debt. “There will have to be a resolution of the system working for the majority of the people in which there’s productivity,” Dalio told CNN’s Poppy Harlow in an interview airing Tuesday. “And that could be obtained either in a smart, bipartisan way — or it will come by greater conflict.”
SEC Filing Shows Anthony Scaramucci Plans to Start a Bitcoin Investment Fund (BTC Manager)
According to an official filing with the U.S. Securities and Exchange Commission (SEC), investor and former Trump White House aide Anthony Scaramucci is poised to start a bitcoin-related investment fund. Another Bitcoin Fund on the Horizon? The amount of mainstream attention and adoption bitcoin (BTC) has witnessed throughout 2020 has been unprecedented. Several companies like MicroStrategy, Square, and Guggenheim Investments, among others are actively buying the premier cryptocurrency as a hedge against the greenback.
Marc Lasry Sees More Restructurings, Lower Recoveries Ahead (Bloomberg)
Marc Lasry, chairman and chief executive officer of Avenue Capital Group, says he’s “pretty optimistic” about capital markets in 2021 and discusses the impact of Federal Reserve monetary policy on hedge funds. He speaks with Bloomberg’s Tom Keene and Lisa Abramowicz on “Bloomberg Surveillance.” (Source: Bloomberg)
Billionaire Investor Bill Ackman Discussed His Pandemic Hedge, Praised Trump, and Explained His Berkshire Hathaway Exit in a Recent Interview. Here are the 19 Best Quotes. (Business Insider)
The billionaire investor Bill Ackman discussed hedging the pandemic, investing in Warren Buffett‘s Berkshire Hathaway then exiting less than 18 months later, and the goal of his “blank-check” company during a virtual appearance at the Sohn Hearts & Minds conference in November. The Pershing Square chief also spoke in the wide-ranging interview about shareholder activism, short-selling, the market outlook, and a potential presidential run for Ivanka Trump.
Izzy Englander’s Hedge Fund Poised for Biggest Gain Since 2000 (Bloomberg)
(Bloomberg) — Izzy Englander’s Millennium Management is headed for its best performance in 20 years and is scooping up more talent than ever, according to people familiar with the firm. The multi-strategy hedge fund gained 3.4% this month through Dec. 17. That brought performance for this year to 23.3%, the people said. The S&P 500 Index jumped about 15% over that span. Hedge funds, in general, returned 5.8% through November, according to Bloomberg indexes.