Hedge Fund and Insider Trading News: Ray Dalio, Ken Griffin, Bill Miller, Bill Ackman, Ultragenyx Pharmaceutical Inc (RARE), Caterpillar Inc. (CAT), and More

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Bill Miller’s Fund Crushed the Market for a Record 15 Straight Years. Here’s How the Legendary Investor recently Applied His Long-term Approach to Companies Like Uber and Lemonade – and the Assets He’s Betting on for Future Returns. (Business Insider)
Bill Miller‘s mutual funds beat the stock market for 15 years in a row in the 1990s and 2000s, and he’s still bringing in strong returns at his firm Miller Value Partners. Miller recently detailed his thinking on several asset classes and the state of the broader market. Co-manager Samantha McLemore explained recent trades she and Miller made in the firm’s Opportunity Trust, one of the top funds in its class for the last few years.

Ray Dalio on Election Day 2020: US Needs Less Polarization Because ‘the System is in Jeopardy’ (MSN Money)
As the U.S. votes to elect the next president, hedge fund luminary Ray Dalio cites political polarization as the “greatest problem of our time”— worsened by people being “passionately attached to their opinions” and unable to disagree thoughtfully. Amid a still-unfolding and highly divisive election cycle, the founder of the $138 billion Bridgewater Associates hedge fund — the world’s largest — explained why he isn’t confident the country can return to civility. “I’m not optimistic that we can get there, but I do know that we can get there if people are fearful of the consequences of not getting there,” Dalio told Yahoo Finance in an extended interview.

Ackman Stumbles in October (Institutional Investor)
It’s the first down quarter for Pershing Square since 2018, and comes in a hot year-to-date. The stock market’s October swoon sent Bill Ackman’s Pershing Square Holdings hedge fund down 2.2 percent for the month, an abrupt change from the big gains it’s been chalking up all year.Pershing Square Holdings, Ackman’s publicly traded hedge fund, is still up 43.7 percent — making it one of the…

Ken Griffin’s Macro ‘Dream’ Propels Net Worth to $20 Billion (Bloomberg)
Ken Griffin was facing a calamity. As Covid-19 roiled the economy in March, equities tanked and bond markets went haywire. Hedge funds run by Griffin’s Citadel were taking losses as the computer models that guide some of their decisions struggled to comprehend the pandemic.

Ample Opportunities in Nordic Private Debt Market (Hedge Nordic)
Stockholm (HedgeNordic) – COVID-19 struck many small and medium-sized companies hard in the earlier part of 2020, leaving loans directed towards these entities at risk. Despite the current challenging conditions, Fredrik Sjöstrand and Peder Broms, who are managing the Scandinavian Credit Fund I – a direct lending fund focusing on the Nordics, see ample opportunities in the Nordic private debt market and have managed to show solid performance numbers in what has been unprecedented markets for direct lending in the Nordic region and elsewhere. “The situation has improved strongly since the COVID-19 outbreak and we are in a very interesting position in terms of deal flow.

The Tiger 21 Club of Multimillionaire Investors Are Election-Proofing Their Assets (Bloomberg)
As the members of Tiger 21, a club of multimillionaire investors, await results from this year’s presidential election, they are bracing for change. In addition to seeking out investment opportunities in a landscape reconfigured this year by political and pandemic uncertainties, they are also highly focused on hedging against the tax policies of a potential Democratic administration through careful estate planning.

Alternatives, ESG and digitalisation on the Rise (Hedge Week)
By Stéphane Badey, Arendt – These are uncertain times, but three solid trends driving the Luxembourg investment funds market can be highlighted. 1. The continuous growth of the alternative investment strategies. Luxembourg has positioned itself as a jurisdiction of choice for alternative asset managers. As a consulting firm we are accompanying clients in their move to Luxembourg. This is made easier from a regulatory perspective by the adoption of a clear regulatory framework.

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