Hedge Fund and Insider Trading News: Ray Dalio, Paul Singer, David Einhorn, Tiger Global Management, Zoom Video Communications Inc (ZM), Aldeyra Therapeutics Inc (ALDX), and More

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Dalio Calls for Bipartisan Solution to Post-Pandemic Recovery (Bloomberg)
Bridgewater Associates founder Ray Dalio called for a bipartisan solution to reviving the post-pandemic economy. The U.S. needed an ambitious plan similar to the Manhattan Project during World War II, which included cooperation among a number of countries, according to the billionaire. It would need a solution where “leadership from the top appoints a bipartisan group of people who are also skilled to engineer an encompassing plan that is acceptable broadly,” Dalio said at the World Economic Forum’s virtual Davos Agenda conference. “So it has to be over encompassing and it has to be like a Manhattan Project.”

Singer Says Long-Term Bonds Are A ‘Senseless’ Speculative Trade (FA.Mag.com)
Billionaire Paul Singer has a warning for his fellow investors: 1970s-style inflation can happen again, and almost nobody is ready for it. The hedge fund manager — a frequent critic of U.S. monetary policy — said in an interview on Grant Williams’s podcast that the combination of “trillions and trillions” of dollars in Covid-19 relief spending, wage pressures and rock-bottom interest rates has the potential to shock markets. The interview was taped last week and published Friday. “There’s a really good chance of a tremendous surprise, and a surprise in the relatively near future,” said Singer, speaking on the likelihood of consumer prices spiking higher. “Bonds could have a very significant and abrupt and intense price readjustment.”

Einhorn Bullish on fuboTV as Sports Fandom, Betting Become Interactive (Casino.org)
On news that David Einhorn’s Greenlight Capital was an early investor in the company and maintains a stake, fuboTV stock surged last Thursday and followed that up by jumping 6.25 percent the next day on volume that was more than double the daily average. Watching sports goes from being a passive experience to a highly engaging, active one,” wrote Einhorn in Greenlights fourth-quarter letter to clients. “Higher engagement leads to higher ad revenues and the ability to make other in-app sales to players.”

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Top-Performing Hedge Funds of 2020 (Live Mint)
Tiger Global Management placed first in a world hedge-fund ranking and quant powerhouse Renaissance Technologies was ousted, another sign that trading conditions favoured human stock-pickers over algorithms. The industry reaped $127 billion last year, with some of the biggest firms dominated by human traders racking up record profits, according to estimates disclosed Monday by LCH Investments, a fund of hedge funds. Chase Coleman’s Tiger Global generated $10.4 billion for clients, after fees, and Izzy Englander’s Millennium Management was a close second, with $10.2 billion.

Årets Hedgefond 2020 (Hedge Nordic)
Stockholm (HedgeNordic) – Multi-strategy hedge fund Nordic Cross Stable Return has been named the “Hedge Fund of the Year 2020” at the annual “Årets Fonder” awards ceremony organized by Swedish fund platform Fondmarknaden.se. With a return of 27.3 percent for 2020, Nordic Cross Stable Return was the best-performing member of the “Multi-Strategy” category within the Nordic Hedge Index last year and among the best-performing Swedish hedge funds.

Breakingviews – Hedge Fund Backers Must Pick Winners Twice Over (Reuters)
NEW YORK (Reuters Breakingviews) – Hedge fund investors may have loved their chosen managers’ performance in 2020. Or they may have hated it. Equity-heavy funds did well overall, with their exposure to buoyant stock markets. But the top 20 fund firms made around half the gains in the entire roughly 8,000-strong industry.

GameStop’s Hedge Fund Fan Turns Less Bullish After Surge (Bloomberg)
The South Korean hedge fund that made a bold bet on GameStop Corp. almost a year ago is turning less bullish on the U.S videogame retailer’s stock following a seemingly endless rally that has wrong-footed many short-sellers. Kim Doo-yong, chief executive officer at Must Asset Management, said the stock’s high volatility and more-than-ten times surge since his last interview with Bloomberg in March 2020 are prompting his less rosy view. The shares have gained 245% so far this year and are up a further 28% in U.S. premarket trading Monday.

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