Hedge Fund and Insider Trading News: Ray Dalio, Steve Cohen, Two Sigma Advisors, TIFF Investment Management, MP Materials Corp (MP), HireRight Holdings Corporation (HRT), and More

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Two Sigma Appoints CEO of Venn Platform (Hedge Week)
Two Sigma has appointed Marco Della Torre as CEO of Venn, its portfolio analytics platform. In this newly created role, Della Torre will lead the product and business development of Venn, drawing from his nearly two decades of experience leading high-growth technology companies. Della Torre most recently served as chief product & innovation officer of Forge Global, a private securities marketplace and data platform, where he oversaw the company’s product strategy and roadmap.

How Mets CTO Mark Brubaker Splits His Time With Ballclub and Steve Cohen’s Point72 Hedge Fund (Sport Techie)
Mark Brubaker remembers getting a phone call from Steve Cohen in 2020, about a year after Brubaker joined Cohen’s Point72 Asset Management firm as chief technology officer. Now, the billionaire hedge fund founder wanted Brubaker to handle the same title for the New York Mets, which Cohen bought majority control of for $2.4 billion in November 2020.

Dalio is Right to Short Europe, Strategist Says: ‘The Pain will Go On for Quite a While’ (CNBC)
Billionaire investor Ray Dalio is right to have bet against European stocks, and global markets still have a rough road ahead, according to Beat Wittmann, partner at Zurich-based Porta Advisors. Dalio’s Bridgewater Associates has at least $6.7 billion in short positions against European stocks, according to data group Breakout Point, which aggregated the firm’s public disclosures. It is unknown whether Bridgewater’s shorts are outright bets against the stocks, or part of a hedge.

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One of China’s Most Famous Hedge Funds Is Springing Back to Life (Bloomberg)
A sudden rise in the volatility of funds run by one of China’s best-known money managers suggests the firm may be rebuilding positions in the stock market after liquidating nearly all its holdings earlier this year. Weekly net asset values at several funds managed by Dan Bin’s Shenzhen Oriental Harbor Investment Management Co. began showing more dramatic swings last Friday, after being little changed since late February. The increase in volatility is an indication of rising market exposure.

Traditional Managers Have ‘Nowhere to Hide.’ Can Hedge Funds Pick Up the Slack? (Institutional Investor)
With fixed income falling short in protecting on the downside, TIFF Investment Management is betting on hedge funds to help diversify some investment risks. Despite the bad headlines and their mixed track record, TIFF Investment Management, the $8 billion outsourced chief investment officer for endowments and foundations, will keep betting on hedge funds to soften the blow of market stress. “There’s a feeling of ‘nowhere to hide’ if you are only a traditional equity and fixed income portfolio [manager,]” said Zhe Shen, director of diversifying strategies at TIFF. “My belief is that hedge funds are a great way to diversify the portfolio and help smooth out returns.”

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