Hedge Fund and Insider Trading News: Ray Dalio, Steve Cohen, Davidson Kempner, Cantab Capital Partners, Inovalon Holdings Inc (INOV), Sixty North Gold Mining Ltd (SXNTF), and More

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Billionaire Ray Dalio Explains Why Investors Should Buy Chinese Debt Regardless of Who Wins the Election (Business Insider)
Billionaire hedge fund manager Ray Dalio told Bloomberg on Monday that the world is “structurally underweight China” and investors should buy Chinese bonds for diversification no matter the outcome of the US election. The Bridgewater Associates founder said that regardless of who wins the presidency, the US will run larger deficits and sell more debt, according to Bloomberg. This will cause global investors who are overweight in US bonds to diversify into China. Citing the favorable capital inflows in China, he said: “I’d much rather own Chinese bonds than US bonds.” China’s 10-year government bonds yield over 3%, while US treasuries yield less than 1%.

Steve Cohen’s New York Mets Can’t Repeat Brodie Van Wagenen’s Mistakes By Trading Top Prospects (Forbes)
New York Mets fans around the world were finally able to truly celebrate the Wilpons selling the team to billionaire Steve Cohen after MLB approved the sale on Friday and New York City mayor Bill de Blasio gave his blessing amid rumors he might not. Even the hint of Cohen putting any sort of competent management (like a Sandy Alderson return) in place instead of or in addition to current general manager Brodie Van Wagenen should get Mets fans duly excited. With free agency officially underway Sunday, Cohen will most likely flex his financial muscles in some way, whether that means signing a top flight hitter like Philadelphia Phillies catcher J.T. Realmuto, Houston Astros outfielder George Springer or a starting pitcher like Cincinnati Reds righty Trevor Bauer.

World’s Top Hedge Fund Soars 275% With Bets on China Schools (Bloomberg)
Long before he ran the world’s best-performing hedge fund, Qian Yongqiang chaired China’s biggest online dating service. The Yale graduate would spend hours tracking down attractive users with suspicious profiles, sifting through accounts and deleting thousands of scammers to improve the site’s authenticity and ensure its success.

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New Report Highlights Growing Demand for Smaller or Newer Hedge Fund Managers (Hedge Week)
The global hedge fund industry is currently facing headwinds from fee pressure, increased redemptions, and liquidations, with the situation being further worsened due to the decreasing number of launches of new funds, as investors around the world are more inclined toward defensive strategies. That’s according to a new report from ResearchAndMarkets.com – Global Hedge Fund Industry | Growth, Trends, and Forecast (2020-2025) – which reveals that despite these tough times, the industry witnessed double-digit annualised return in 2019 for the first time in the past six years.

GAM’s Bet on Hedge Fund Sours as Quant Business Shrinks (Bloomberg)
GAM Holding AG’s push into cutting-edge hedge funds has faltered, after steep losses at its once-feted Cantab Capital Partners unit accelerated a plunge in assets this year. GAM’s acquisition of Cambridge, U.K.-based Cantab was supposed to supercharge its expansion into computer-driven quant trading. But key strategies have posted losses of as much as 24% this year, dragging assets down to an all-time low of $1.3 billion. The former Cantab funds have shrank by two thirds since the 2016 acquisition, with the worst losses fueled by the pandemic, according to investor letters seen by Bloomberg.

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