Whitney Tilson Starts Dating Group to Beat Bill Ackman at Matchmaking (Bloomberg)
Whitney Tilson credits Pershing Square Capital Management founder Bill Ackman with having introduced four couples who have gotten married — and he wants to emulate that track record. So Tilson, who was founder and managing partner of hedge funds T2 Partners LLC and Kase Capital Management before moving on to start Empire Financial Research, has decided to create a mailing list for people to receive articles, events and more that he thinks might be of interest to single people.
Ray Dalio’s Hedge Fund Thinks Wall Street Could Be In For More Pain (Investing.com)
The world’s largest hedge fund Bridgewater Associates, led by billionaire Ray Dalio, has a warning for investors related to an economic slowdown in the United States. What Happened: The U.S. market is yet to price in an economic slowdown in the U.S., Reuters reported on Thursday, citing Bridgewater’s co-chief investment officer Karen Karniol-Tambour.
Current Bear Market ‘Has a Ways to Run’, Warns Hedge Fund Manager Druckenmiller – Breaking (Street Register)
American hedge fund manager Stanley Druckenmiller believes that “we’re six months into a bear market,” adding that it’s very likely that the current bear market “has a ways to run,” he said Thursday at the 2022 Sohn Investment Conference. Druckenmiller believes that after the Federal Reserve became more hawkish against inflation and with the Index falling more than 20% off its previous high, the economy will likely fall into recession next year. Last year, the investor criticized the Fed’s bank policy, citing a “raging mania” in every market.
Greenlight’s Einhorn Sees Gold Going ‘Higher, Perhaps Much Higher’ (Reuters)
NEW YORK, June 9 (Reuters) – Greenlight Capital hedge fund manager David Einhorn said on Thursday that the Federal Reserve is pretending it can tame inflation and that the price of gold is likely to go higher amid the current environment of rising prices. “The question is whether there’s enough gold to back the currency reserves. The answer is for the price of gold to go higher, perhaps much higher,” Einhorn said, speaking at the Sohn Investment Conference, which is being held virtually. Einhorn has long been betting that gold is a critically important asset in portfolios.
Mixed May for CTAs as Lynx Stays Top (Hedge Nordic)
Stockholm (HedgeNordic) – After two consecutive months of strong returns, Nordic CTAs edged down 0.5 percent in May to trim the group’s year-to-date advance to 5.3 percent. A handful of Nordic trend-following funds not only outperformed traditional asset classes so far in 2022 but also their hedge fund peers, with Lynx and RPM Evolving CTA Fund currently ranking as this year’s best-performing funds within the Nordic hedge fund universe.
Lone Pine Alum Gaonkar Hires From Rivals Third Point, Maverick for Hedge Fund Launch (Bloomberg)
Former Lone Pine Capital Managing Director Mala Gaonkar is grabbing talent from industry rivals as she expects to launch her hedge fund early next year with at least $1 billion. She hired 13 employees for her SurgoCap Partners, including personnel from Dan Loeb’s Third Point and Lee Ainslie’s Maverick Capital, according to people familiar with the matter. Gaonkar, 52, plans to build out her team further before the firm’s debut, which is planned for the first quarter.
Hedge Fund Guru Heavily Funds Irvin’s Campaign, Governor Pritzker Defends DCFS and More (NPRIllinois.org)
Illinois Governor JB Pritzker defends DCS but admits there are challenges. Illinois expands time off workers can take for bereavement. Republican candidate for governor Richard Irvin reportedly pulling back on advertising. Hedge Fund guru Ken Griffin heavily funding Irvin’s gubernatorial campaign. The state plans to help expand access to healthy foods in underserved areas. Amy Beadle from the Springfield Convention and Visitors Bureau talks about what to do this weekend in Springfield.
PwC Says Crypto Hedge Funds will Shrug off the Terra Stablecoin Collapse, Even as Galaxy Digital CEO Mike Novogratz Says Two-Thirds could Fail (Fortune)
Even though Galaxy Digital CEO Mike Novogratz recently said he thinks two-thirds of crypto hedge funds will go out of business, PwC paints a more optimistic picture. In its 2022 global crypto hedge fund report, PwC found that TerraUSD (UST), the failed algorithmic stablecoin, was the third most preferred stablecoin for crypto hedge funds. While this could’ve translated to major losses (or gains) for such funds, the consulting firm predicts that crypto-focused hedge funds will still grow.
Friday 6/10 Insider Buying Report: HI, BZFD (Nasdaq.com)
On Monday, Hillenbrand’s Senior VP, Chief Financial Officer, Robert M. Vanhimbergen, made a $264,000 purchase of HI, buying 6,000 shares at a cost of $44.00 each. Bargain hunters are able to grab HI at a price even lower than Vanhimbergen did, with the stock changing hands as low as $42.33 in trading on Friday which is 3.8% under Vanhimbergen’s purchase price. Hillenbrand is trading off about 2.1% on the day Friday. This buy marks the first one filed by Vanhimbergen in the past year. And also on Monday, Director Adam Rothstein purchased $232,960 worth of BuzzFeed, purchasing 100,000 shares at a cost of $2.33 each. BuzzFeed is trading down about 5.9% on the day Friday. Bargain hunters can snag BZFD even cheaper than Rothstein did, with the stock changing hands as low as $2.04 in trading on Friday which is 12.4% below Rothstein’s purchase price.
Insiders Buy More Than $15M Of 3 Stocks (Benzinga)
Tricida: The Trade: Tricida, Inc. (TCDA) 10% owner Nimish Shah acquired a total of 588,024 shares at at an average price of $9.65. To acquire these shares, it cost around $5.67 million. Clearwater Analytics Holdings: The Trade: Clearwater Analytics Holdings, Inc. (CWAN) 10% owner Durable Capital Partners LP acquired a total of 567,547 shares at an average price of $13.53. To acquire these shares, it cost around $7.68 million.
