Ray Dalio Confirms that Bitcoin is on the Radar of His $150 Billion Hedge Fund (Crypto-News-Flash.com)
One of the world’s most revered investors and hedge fund managers has changed his anti-Bitcoin stance. Ray Dalio, the founder of hedge fund Bridgewater Associates, now believes that Bitcoin has the potential to become one of the best investments of our time. In a recent blog post, he also revealed that Bitcoin is now on his hedge fund’s radar. Dalio’s recent views are vastly different from a year ago when he dismissed Bitcoin as an alternative asset. At the time, he claimed that governments would soon move in and start banning the flagship cryptocurrency. He also claimed that CBDCs would wipe out the BTC market as more governments sought an alternative to the cryptocurrency.
Shareholders May be Forced to Accept Brevan Howard’s Fee Hike Demands – Stifel (Investmentweek.co.uk)
BH Macro and BH Global shareholders may have to accept demands from hedge fund Brevan Howard of a hike in the fees paid to the trusts’ investment manager, Stifel has predicted after upgrading its recommendations on the trusts after their “premium bubbles” popped. Brevan Howard last Friday (22 January) served an ultimatum to the board of the two London-listed investment companies it runs, demanding the 2% management fee and 20% performance fee it had charged pre-2017 be reinstated, and proposing a levy on share repurchases.
Tong Targets Hedge Fund Seeking to Buy Hartford Courant Parent (Hartford Business)
Attorney General William Tong hinted at antitrust actions against a hedge fund with plans to buy the parent company of Hartford Courant, the state capital’s newspaper. Tong said Thursday that he wrote a letter seeking more information from the hedge fund, Alden Global Capital, with an eye for “potential competitive ramifications” arising from the purchase of Tribune Publishing.
Leon Cooperman on GameStop Reddit Speculators: ‘I’m Not Damning Them’ But It will ‘End in Tears’ (CNBC)
Leon Cooperman told CNBC on Thursday he believes the Reddit-fueled trading frenzy involving GameStop shares will end poorly. However, the billionaire investor said he wasn’t faulting the people who kicked off the epic short squeeze, which sent the stock to dizzying heights in recent days. “I’m not damning them. I’m just saying from my experience, this will end in tears,” Cooperman said on “Fast Money: Halftime Report,” as shares of the beleaguered video game retailer tumbled about 25%. Earlier in the session, GameStop’s stock touched an all-time high of $483 but came under pressure as numerous retail brokerages placed limits on trades.
Are Hedge Funds Blindsided by Short Selling Losses? (Institutional Investor)
Hedge fund honchos may appear blindsided — and badly hurt — by the big short squeeze of GameStop and many other financially shaky companies.But while many of these hedgies have seemed stunned that their favorite shorts were abruptly targeted, they really are mindful that upward moves in these stocks have…