Hedge Fund and Insider Trading News: Ray Dalio, Michael Vranos, Tiger Global Management, Xilinx Inc (XLNX), Kforce Inc (KFRC), and More

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Tiger Global raises stake in Flipkart; buys shares from Binny Bansal (Livemint.com)
Bengaluru: Flipkart co-founder Binny Bansal has sold $14 million worth of shares in the company to New York hedge fund Tiger Global, according to regulatory filings accessed through data intelligence platform Paper.vc. This is the third time that Bansal has sold a tranche of his shares since Walmart took over the e-commerce firm. Bansal has transferred part of his holding to two Tiger Global funds – 47,759 equity shares to existing shareholder Internet Fund III Pte Ltd and 54,596 shares to incoming shareholder Tiger Global Eight Holdings.

Ray Dalio: Be Careful of ‘Fast Talkers’ — They’re Trying to Bulldoze You (CNBC)
Billionaire Ray Dalio, who founded Bridgewater Associates, the largest hedge fund in the world with $160 billion in assets under management, is known for his belief in “radical transparency ” in communications and decision-making. As part of his trademark communication style, Dalio advises to beware fast talkers. “Fast talkers are people who articulately and assertively say things faster than they can be assessed as a way of pushing their agenda past other people’s examination or objections,” Dalio tweeted in August.

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Artificial Intelligence Hedge Funds Outperform the Hedge Fund Benchmark (Opalesque.com)
Hedge funds that use AI-based computer models to help with trading have been outperforming the hedge fund benchmark for the past year, said Preqin Insights. Based on three-year cumulative returns, Artificial intelligence (AI) hedge funds have outperformed the Preqin All-Strategies Hedge Fund benchmark by a margin of three percentage points, with AI funds returning +26.96% over the past three years and all hedge funds returning +23.87%. In isolation, this difference does not seem significant enough to give AI funds an edge in the market, but other risk metrics must be taken into account.

Managers Turn Up Volume with Billy Idol Fundraiser (Pensions&Investments)
Hedge fund manager Michael W. Vranos is hosting a concert with rock star Billy Idol as the headliner to raise at least $1 million to protect children. The concert, which will be held Sept. 26 at Terminal 5 in New York, will benefit Help for Children Inc., a New York-based foundation created and funded by hedge fund and other alternative investment managers to prevent child abuse and offer treatment to victims. Mr. Vranos, founder and CEO of credit specialist hedge fund manager Ellington Management Group LLC, Old Greenwich, Conn., said in an interview that he came up with the idea of a fundraising concert series – HFC Rocks – for the foundation in 2017 because “financial people like to let their hair down and have a good time.”

Hedge Fund Investors in China Revolt Over Performance Fees (Bloomberg)
Criticism from an investor in a Chinese hedge fund has sparked controversy over a key source of income for the 2.3 trillion yuan ($322 billion) industry. An open letter by Michelle Wang to news portal Sina.com in July outlined some unorthodox ways in which many Chinese hedge funds collect performance fees, leaving the Beijing-based lawyer paying up for a money-losing investment. Firms including Shanghai Chongyang Assets Management Co., which manages more than 20 billion yuan, and Shanghai WuSheng Investment Management Partnership have since joined the debate along with hundreds of other users.

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