Ray Dalio: The Government ‘Outlawing Bitcoin is a Good Probability’ (CNBC)
Billionaire investor Ray Dalio, founder of the world’s largest hedge fund Bridgewater Associates, thinks bitcoin may have a similar fate as gold did in the U.S. during the 1930s. ″[B]ack in the ’30s in the war years … because cash and bonds were such bad investments relative to other things, there was the movement to those other things, and then the government outlawed them,” Dalio told Yahoo Finance on Wednesday. “They outlawed gold.
Soros Investment Chief Fitzpatrick Sees Crypto at ‘Inflection Point’ (The Street)
The chief investment officer of Soros Fund Management, Dawn Fitzpatrick, thinks cryptocurrencies are at an “inflection point,” leading her firm to make investments in crypto infrastructure, she said on a Bloomberg broadcast yesterday. Speaking on Erik Schatzker’s show “Front Row,” Fitzpatrick said cryptocurrency infrastructure like exchanges, asset managers, custodians and tax reporting service providers were a “really interesting” category that her firm has been investing in.
Understanding and Capturing Change (Hedge Nordic)
Stockholm (HedgeNordic) – European stocks have returned an average of 1.3 percent per annum since the end of 1998 in nominal terms, which amounts to nothing when adjusting for inflation. On the surface, the universe of public companies in Europe has been sleepwalking its way through two “lost decades,” but in reality, there was a breadth of changes afoot on the continent. “If you invested a hundred euros in a European stock index 20 years ago, you would still have a hundred euros now,” says Michal Danielewicz, who co-founded thematic-focused asset manager St. Petri Capital with Jens Larsson back in 2017.
Warren Buffett’s Berkshire Hathaway has a $8.3 Billion Plan to Prevent the Next Texas Power Crisis – and Make Money in the Process (Business Insider)
Warren Buffett‘s Berkshire Hathaway has a plan to prevent the next Texas power crisis – and make billions of dollars in the process. The famed investor’s conglomerate wants to create a new company called the Texas Emergency Power Reserve, the Dallas Morning News reported on Thursday. Berkshire’s energy unit is pitching the idea after winter storms knocked out dozens of Texas power plants in February. The blackout left upwards of 4 million people in the dark, sparked shortages of food and water, and led to more than 100 deaths.
Hedge Fund Veteran Lee Robinson’s Altana Wealth Steps into the SPACs Surge with New Launch (Hedge Week)
Altana Wealth, the credit, currencies and special situations-focused hedge fund led by industry veteran and former Trafalgar Asset Managers co-founder Lee Robinson, is gearing up to launch a new strategy that will capitalise on the fast-growing SPAC sector. SPACs, or special purpose acquisition companies, raise capital from investors, via IPOs, to buy shares in private companies, with a view to taking them public, typically through a merger with the publicly-traded SPAC. Shareholders can then either choose to participate further with the merger as an investor, or redeem stock for the cash held in escrow following a takeover – an event driven optionality Robinson sees as “highly attractive.” Should no takeover targets be found within two years, the SPAC dissolves, with cash returned to investors.