Hedge Fund and Insider Trading News: Mike Novogratz, Ray Dalio, Daniel Loeb, AQR Capital, AGNC Investment Corp (AGNC), J B Hunt Transport Services Inc (JBHT), and More

Novogratz Sees Bitcoin Consolidating in $7,000 to $10,000 Range (Bloomberg)
Given the huge run-up in cryptocurrencies this year, billionaire investor Mike Novogratz is predicting Bitcoin will soon consolidate to a narrower trading range, but noted that pure excitement could carry prices even higher. “On a go-forward basis, Bitcoin probably consolidates somewhere between $7,000 and $10,000. You know, trees don’t grow to the sky,” the chief executive officer of Galaxy Digital Holdings Ltd., said on a conference call Thursday discussing the company’s first-quarter financial results. “If I’m wrong on that, I think I’m wrong to the upside, that there’s enough excitement and momentum that it could carry through.”

Ray Dalio warns the US-China trade war may be evolving as Signs Mount of a ‘Major Escalation’ (Business Insider)
Ray Dalio has warned the US-China trade war could be entering a new stage. America’s blacklisting of Huawei and China’s threats to cut off US supplies of rare-earth metals could transform the “tariff war” into an “export embargo war,” the billionaire cochairman of Bridgewater Associates wrote in a LinkedIn post.

Countries with the Smallest Government Per Capita in the WorldCountries with the Smallest Government Per Capita in the World

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Third Point Re – Less Hedge Fund Investing, More Catastrophe Underwriting (Artemis.bm)
Bermuda headquartered, hedge fund backed reinsurance firm Third Point Re is pivoting further away from the longer-tailed underwriting, more active investment approach of its original strategy, as it embraces catastrophe risk once again. As one of the main proponents of the total return or hedge fund reinsurance strategy, Third Point Re has seen its results fluctuate, as the underwriting side struggled to get to a sub-100 combined ratio and the investment side swung wildly from losses to higher returns. The strategy has always been a volatile one, with the kind of large bets made on the hedge fund investing side by Third Point LLC’s Daniel Loeb leaving the reinsurer in a volatile position where its results could be wiped out by one negative quarter.

5 of the Top-rated Equity Fund Managers in the US Share Their Blueprints for Consistently Crushing the Market – and the Best Ways to Replicate their Success (Business Insider)
Frazinni manages $3.2 billion at AQR, one of the world’s largest hedge funds. He also co-leads the global stock selection team that generates forecasting models. His overarching goal is to hold a diverse slate of American companies that can survive in any market environment. His investing style mirrors AQR’s well-known adoption of quant strategies. Beyond the firmwide approach, he is influenced by his other job as an adjunct professor of finance at New York University’s Stern School of Business. “A lot of what we do comes straight out of academia, “Frazinni told Business Insider. “We develop theories and testable hypotheses, then use our findings and economic theory as guidance to build our portfolios.”

What will Billionaire Ken Griffin Build on His Huge Palm Beach Estate? (ChicagoBusiness.com)
The Architectural Commission of Palm Beach unanimously gave billionaire Ken Griffin permission to knock down a lakefront house built in 1983 in his 17-acre Florida property on Wednesday, according to the Palm Beach Daily News. There is no information on what he plans to build in its place. The 1285 S. Ocean Blvd. property is 10,833 square feet and stands on about an acre of land. It also has 193 feet of lakefront. The property is immediately across the coastal road from Griffin’s beachfront land and is a quarter-mile south of President Donald Trump’s Mar-a-Lago Resort.

Poker-Playing Hedge Fund Managers Have an Edge (Bloomberg)
Do poker players make good hedge fund managers? On one hand, there’s skill overlap. Both activities demand aggressiveness, accurate calculations under pressure, keen behavioral insight and shrewd risk-taking. On the other hand, poker seems like a risk-seeking activity, suggesting reckless and overconfident managers. Poker requires deception and gamblers are often considered untrustworthy. Also, time spent learning and playing poker is time taken away from investing.

Hedge Funds Recorded Fourth Positive Month in of the Year in April (HedgeWeek.com)
Hedge fund managers ended April 2019 up 1.05 per cent on an equal-weighted basis, and 1.00 per cent on an asset-weighted basis. Roughly 70.6 per cent of the hedge fund managers tracked by Eurekahedge recorded positive returns over the month. Fund managers focusing on North America overtook their Asian peers and topped the chart across geographic mandates by returning 6.72 per cent year-to-date. Across strategies, long/short equities mandate maintained their top spot based on April 2019 year-to-date performance.