Hedge Fund and Insider Trading News: Mike Novogratz, George Soros, Ray Dalio, Steve Cohen, Citadel LLC, Engine No. 1, Arthur J Gallagher & Co (AJG), Restaurant Brands International Inc (QSR), and More

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Goldman Sachs Ramps Up Bitcoin Trading in New Partnership with Mike Novogratz’s Galaxy Digital (CNBC)
Goldman Sachs’ efforts to help hedge funds and other big institutional clients wager on bitcoin have taken a step forward. The bank has begun trading bitcoin futures with Galaxy Digital, the crypto merchant bank founded by Mike Novogratz, CNBC has learned.

Billionaire Ray Dalio Wants Finance Execs to Accept that Pain is ‘a Teaching Mechanism’ (Financial News)
Ray Dalio, the billionaire hedge fund boss behind Bridgewater Associates, has described pain as a “teaching mechanism” in a rallying call to financiers to accept when they are wrong and learn from their mistakes. The ever-colourful Dalio has become almost as well-known for his self-help tips as his investment strategies, having published best-selling books and developing personality tests alongside his fund management career.

Citadel’s Back on the Hunt for Miami Office Space (Commercial Observer)
Financial giant Citadel has expanded its office search to Miami Beach, Commercial Observer has learned. The hedge fund is considering the Related Group’s development on Terminal Island called One Island Park, according to multiple sources.

10 best cheap stocks to invest in February 2021

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Hedge Fund Billionaire Steven Cohen Says He’s “Fully Converted” to Crypto (U.Today)
Point72 Asset Management boss Steve Cohen is “fully converted” to crypto, according to his recent interview with Stray Reflections founder Jawad Mian: I’m fully converted to crypto. You have to pay to learn; there’s no way around it. You can talk all you want, but you’ve got to get in the game. Cohen—whose net worth is estimated to be $14 billion—claims that he doesn’t care about the Bitcoin price since no one actually knows when it’s going to go up. The legendary hedge fund is mainly focused on the disruptive potential of the blockchain technology.

The Investment Chief Overseeing George Soros’s $27 Billion Firm Says Mega-Cap Tech Stocks are Cheap Compared to Late-Stage Private Firms — and Taps them as Her Top Pick for the Next Decade (Business Insider)
The woman who manages the fortune of one of the world’s richest men said she recommends steering clear of late-stage private companies and thinks large-cap tech companies are a strong long-term investment. Dawn Fitzpatrick — the chief investment officer for Soros Fund Management, which runs billionaire George Soros‘s vast fortune — said that while March of 2020 was a time for action, June of 2021 is a time for patience. Speaking at the New York poverty-fighting charity Robin Hood’s annual conference Wednesday, Fitzpatrick said Soros is in the process of rebuilding its cash reserves after putting money to work last spring when the pandemic shut down the global economy.

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