Third Point’s Dan Loeb has Big Bets on Newly Public Companies. Here are His Top Holdings (CNBC)
Third Point’s Dan Loeb has two new stakes that are top-ten positions for his hedge fund, according to securities filing. Loeb told investors in a letter earlier this month that his flagship fund gained 11% during the first quarter, outperforming the S&P 500. Third Point’s best-performing bets during the period include Upstart Holdings and Intel. The fund revealed its detailed holdings in a quarterly securities filing. Take a look at the top positions for Third Point as of March 31 below.
Ray Dalio: Coping with the Pain of Parenting a Bipolar Child (Financial News)
Billionaire hedge fund boss Ray Dalio isn’t just known for his wily investment strategies. He also counts himself among the business world’s Twitterati. His 675,000 followers on the social media platform receive a daily dose of insightful life advice and thought-provoking philosophy. But beyond that, he’s also now recognised as a senior executive who is unashamedly open about his emotional pain and suffering, sharing his experiences in the hope they help others to deal their own struggles.
ViacomCBS and Baidu Rise as Soros Swoops in Post Archegos (The Street)
ViacomCBS (VIACA), Baidu (BIDU) and Tencent Music Entertainment (TME) shares were all on the rise Monday after billionaire George Soros’ investment firm said it snapped up shares of the companies as well as Discovery (DISCA) – Get Report as they were being sold off during the collapse of Bill Hwang’s Archegos Capital Management. Soros Fund Management bought $194 million of ViacomCBS, Baidu stock valued at $77 million, $46 million of Vipshop Holdings (VIPS) – Get Report and $34 million of Tencent Music Entertainment during the first quarter, according to a 13-F regulatory filing.
Bitcoin is the ‘Apex Predator’ of Digital Currencies – and Dogecoin May be the Crypto Equivalent of Silver, Hedge Fund Manager Anthony Scaramucci Says (Business Insider)
Anthony Scaramucci, founder of investment firm SkyBridge Capital, defended bitcoin’s decline and said he advises investors to hold some amount of it as it’s the only cryptocurrency that’s achieved “escape velocity.” Although other digital currencies have been gaining in popularity, bitcoin has managed to “maintain its supremacy as the apex predator in digital currency,” he said in a Bloomberg interview.
Pershing Square Tontine Pops as It Hints at Upcoming Deal (InvestorPlace)
After a quiet period, Pershing Square Tontine (NYSE:PSTH) stock sprang back to life. On Wednesday, PSTH stock enjoyed its heaviest single-day trading volume in months. The surge in trading interest came as shares leapt more than 7% to reclaim the $24 mark. Pershing Square Tontine, you’ll recall, is superstar investor Bill Ackman’s entry to the special purpose acquisition company (SPAC) arena. PSTH stock came public last year amid a great deal of fanfare. Shares rallied more than 50%, at one point topping $30. Don’t forget that unlike most SPACs which debut at $10, Tontine came out at $20. In any case, shares had fallen nearly back to that $20 level in recent days as the historic SPAC bust drags on.
Unrecognized Lessons of the Archegos Collapse (Bloomberg)
The recent collapse of Archegos Capital Management revealed underappreciated and deeply embedded risks in the U.S. and global banking systems that need to be addressed more broadly than thus far contemplated. Initial reactions to the failure have understandably focused on the lack of transparency at family office funds such as Archegos. Yet a strong capital requirement that meaningfully limits leverage — known as a supplementary leverage ratio — is also critical to protecting banks against the risks that such investment vehicles present.