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Hedge Fund and Insider Trading News: Warren Buffett, Ray Dalio, Fortress Investment Group, ExodusPoint Capital Management, Scotts Miracle-Gro Co (SMG), Encore Wire Corporation (WIRE), and More

ExodusPoint Hedge Fund Reopening to Raise Over $2 Billion (Bloomberg)
ExodusPoint Capital Management, which launched last year with a record $8 billion in assets, is setting out to collect billions more. The hedge fund, co-founded by Michael Gelband and Hyung Lee, aims to gather more than $2 billion starting in the second quarter of 2020, according to people familiar with the matter.

Fortress Plays Long Game in Bidding War for Unizo, Lifts Offer Just a Bit (Reuters)
TOKYO (Reuters) – Fortress Investment Group on Friday raised its bid for Japan’s Unizo Holdings (3258.T) by just 2.5%, still far below an offer from rival suitor Blackstone Group (BX.N) but keeping its hand in what could become a long fight for the hotel operator. Unizo had at one stage turned to SoftBank Group-owned (9984.T) Fortress for help in fending off an offer from domestic travel firm H.I.S. Co Ltd (9603.T). But the hotel operator is currently spurning all approaches, asking for control in how any potential owner would exit its investment.

Ray Dalio Says ‘Capital Wars’ will be the Next Front in the US-China Economic Conflict (CNBC)
The economic fight between the U.S. and China that has roiled financial markets over the last two years could next blossom into a full-blown war for investing capital and ultimately, for the prestige of the globe’s reserve currency, hedge fund magnate Ray Dalio said Thursday. The power struggle between the world’s two largest economies – in the form of a tit-for-tat trade war at present – may soon mushroom into a melee over the dollar’s longheld place as world’s preferred form of exchange, the Bridgewater Associates founder said.

Wall Street Stocks Market Insider Trading

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Hedge Funds Are Dying, Vol. 873,921: ‘Twas The P.E. Firms With Their SRI Products In The Institutional Allocations Room (Deal Breaker)
Leon Cooperman is in a bad mood these days. “I know,” you might thinking or screaming aloud at your screen right now. “You goddamn people are keeping me up-to-the-minute on Coop’s meltdowns vis-à-vis Elizabeth Warren. Do not patronize me with such an obvious statement.” Alas, dear reader, there is more to Cooperman’s unusual grumpiness than the ascent of the senior senator from Massachusetts. There’s also the ascent of private equity, which he’d like to remind you is pure bullshit, over his former industry, that of the hedge fund.

From Warren Buffett to Chase Coleman: The Biggest Bets of the Third Quarter (Bloomberg)
In a tumultuous third quarter, stirred by an escalating U.S. trade war with China, hedge funds made Alibaba Group Holding, the largest Chinese company traded in New York, a top buy. Managers also placed bets on the broader market, spending big on a fund that tracks the S&P 500 Index, according to data compiled by Bloomberg. For the second straight quarter, Uber Technologies was among the most favored stocks, while Disney and Microsoft shares saw heavy selling. Tiger Global Management was the biggest hedge fund buyer of Alibaba in the quarter. Last month, Bloomberg reported that the Trump administration is considering forcing a delisting of Chinese companies from U.S. exchanges, a move that could put Alibaba stock holdings into disarray.

Concentrate. Focus. Engage. (Hedge Nordic)
Stockholm (HedgeNordic) – Accendo Capital’s activist approach to investing reflects a mix of diplomacy, entrepreneurial authority, and sometimes even aggressiveness in the pursuit of creating value for shareholders and investors. “We are an activist fund maintaining a focused portfolio with our absolute best ideas,” explains Henri Österlund, who manages the fund alongside Mark H. Shay and Kai Tavakka. How many ideas make the portfolio? Currently six. Sometimes less, sometimes more, but no more than ten at any given point.

A Fund manager Who’s Crushing Nearly all of his Peers Breaks Down his Unique Strategy for Continuing to Outperform During a Market Crash (Business Insider)
Sectors of the market including utilities and telecommunications are widely considered the default places to seek refuge in times of market turmoil. These defensive sectors provide some cushion during sell-offs. But investors who overweight them tend to lose out in the long term, according to Joshua Bennett, a portfolio manager of Alger subsidiary Weatherbie Capital. He told Business Insider how his alternative approach proved to be superior during the financial crisis, and explained how it continues to outperform today.

Hedge Funds Bought Netflix, Facebook in Rough Third Quarter (Bloomberg)
U.S. hedge funds bought shares of Facebook Inc. and Netflix Inc. despite steep declines in the technology darlings during a volatile third quarter. Chase Coleman and David Tepper were among the money managers who increased their Facebook holdings during the three-month stretch that saw the social-media giant fall nearly 8%. Netflix was favored by firms including Lee Ainslie’s Maverick Capital Ltd. and Dan Sundheim’s D1 Capital Partners despite a 27% drop in the three months ending Sept. 30.

Minimum Investment in Hedge Funds to Be Raised to 300 Mil. Won (BusinessKorea.co.kr)
Individual investors’ minimum investment in hedge funds will be raised from the current 100 million won to 300 million won. Eun Sung-soo, chairman of the Financial Services Commission, announced on Nov. 14 a set of measures designed to protect investors in high-risk financial products. The FSC’s move was prompted by the recent derivatives linked securities (DLF) scandal. “General investors currently need at least 100 million won to invest in a hedge fund, but the amount will be raised to 300 million won,” Eun said. In 2015, the government lowered the minimum investment from 500 million won to 100 million to promote private equity funds. But it decided to raise the amount in four years as problems arose.

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