How EJF Capital is Positioning for Inflation as Central Bank Moves Recalibrate Market Dynamic (Hedge Week)
EJF Capital, which invests long-only and long/short in both equities and credit across the financial services spectrum, believes it is well-placed to navigate the evolving investment landscape, as inflation looms large over markets and the European Central Bank begins winding down its emergency bond-buying pandemic support programme. Peter Stage, EJF Capital’s co-senior managing director in Europe, said inflation continues to be a “topic du jour” across markets, with much of the investment landscape for the remainder of 2021 set to be dominated by central bank policy decisions.
How Steve Cohen, Dmitry Balyasny, and Mike Rockefeller Think About Talent and Keeping Top Performers: ‘If You have People, You have Problems’ (Business Insider)
Steve Cohen, Dmitry Balyasny, Mike Rockefeller, and Ilana Weinstein dished on hedge-fund talent. The four were on a panel at Anthony Scaramucci‘s SALT conference on Tuesday. They gave their views on recruiting, retaining talent, and launching a firm. For those in the hedge-fund industry, the grass is always greener. Those with massive multi-manager platforms envy the new start-up who doesn’t have to manage the egos of hundreds of Ivy League graduates. New launches wish they had to capital to build their firm even faster than planned. But everyone agrees: Managing people and running a business is hard. “If you have people, you have problems,” said billionaire Point72 founder Steve Cohen during a Tuesday panel at Anthony Scaramucci’s SALT Conference. Insider viewed a video of the panel, which also included Dmitry Balyasny, Woodline cofounder Mike Rockefeller, and well-known recruiter Ilana Weinstein.
Ray Dalio Warns This Is What Governments Will Do to Bitcoin if It Becomes ‘Really Successful’ (The Daily Hodl)
Billionaire hedge fund titan Ray Dalio is warning investors that governments might employ draconian measures against Bitcoin (BTC) if the leading cryptocurrency becomes “really successful.” Dalio is the founder of one of the world’s largest investment management firms, Bridgewater Associates. In an interview with CNBC, he claims that if Bitcoin truly takes off, the government has both the motivation and ability to kill the blockchain-based asset. “The governments don’t want to have it [be] successful.
BlackRock Fund Manager Says He’s Cut Gold Holdings to ‘Almost Zero.’ Here’s Why. (Market Watch)
Sorry, gold bugs. The world’s biggest money manager appears to have run out of love for the precious metal. “Fourteen months ago, we had a fairly significant position in gold. Today, we’ve reduced it to almost zero,” Russ Koesterich, the manager of BlackRock’s Global Allocation Fund (MALOX), told Bloomberg in an interview. “We primarily think of gold as a hedge against equity risk, and that works when you’ve got an environment with real rates that are flat or declining. If part of our view is that real rates normalize a bit, that particular commodity is unlikely to work as well as it did in the middle of 2020,” said Koesterich.
Specialist Hedge Funds are Getting Rich Off Uranium’s Burning Hot Moment (The Motley Fool)
In normal times, uranium is a pretty boring investment. The province of nerdy commodity traders and utilities, as much as 80% of ore gets sold through long-term contracts to nuclear power plants. There’s almost no uranium futures trading, there are no extreme libertarians calling for abandoning cash and adopting a uranium standard. Suddenly, though, the rods are heating up. A viral twist has sent uranium prices and stocks through the roof this week and a handful of specialist hedge funds making bank from the critical mass.
SkyBridge Hedge Fund Sends Application to SEC for Crypto-Based ETF (Coin Tribune)
The SkyBridge Capital fund has filed an application with the US Securities and Exchange Commission (SEC) to launch a crypto-based exchange-traded fund (ETF). The ETF’s hallmark is that it aims at investing in shares of companies operating in the digital currency space, rather than directly purchasing Bitcoin (BTC), Ethereum (ETH), other cryptographic assets or related futures. One more ETF on the SEC’s waiting list: SkyBridge Capital is a global investment company based in New York, USA. It is run by Anthony Scaramucci, Brett S. Messing, Raymond Nolte and Troy Gaveski.