New York hedge fund generates $5 million in bitcoin deposits in three days, “expect to multiply tenfold” (PFHub)
Financial institutions across the globe are beginning to adopt bitcoin (BTC) and incorporate the digital currency into its business model. This is evident after NYSO HEDGE, a hedge fund located in New York City, announced that it has accepted approximately $5.4 million in bitcoin deposits. This hasn’t been a long endeavor to amass a sum, though it did apply for regulatory approval this past summer. The hedge fund announced Friday that it would be accepting bitcoins for deposits, which means it has only taken three full days to accumulate an immense sum. The company explained that the virtual currency has the ability to provide individuals with options to invest in stocks without any chargebacks and fees. This, NYSO HEDGE says, contributes to the less usefulness of credit cards.
George Soros Smacked by Actress Ex-Girlfriend (FreeBeacon)
Tempers flared during a Tuesday deposition between billionaire George Soros and his South American soap actress ex-girlfriend, causing her to strike him in the head, according to court papers. Adriana Ferreyr grew angry at Soros, 83, after he refused to allow her to film the deposition. She struck Soros in the head, knocking off the headphones he was using to amplify the sound during the deposition, according to a news account. She also knocked the glasses off of Soros’ lawyer Martin Singer, slapped Soros aide Jose Santos across the face, and kicked him in the shins.
European fund managers form $3 bln hedge fund venture (Reuters)
Paris-based investment firm La Francaise and Anglo-Italian hedge fund manager TAGES Capital are combining assets to form a European fund of hedge funds joint venture. Under the terms of the agreement, La Francaise is taking a 40 percent stake in London hedge fund manager TAGES Capital and will hand over control of its $1 billion in assets to form a $3 billion multi-manager business, the companies said on Tuesday. Funds of funds invest client money in portfolios of hand-picked investment vehicles, rather than taking bets in individual securities.
John Paulson’s Funds Post Gains in January (InstitutionalInvestorsAlpha)
John Paulson picked up in January where he left off in December. The founder of New York–based Paulson & Co. extended his strong 2013 gains last month, when five of his six main funds made money. The funds posted gains of roughly between 1.5 percent and 3.5 percent each, while the sixth fund was slightly positive. His gold fund, however, led the way, surging 18 percent. The price of gold has surged of late as investors have bailed out of stocks in the emerging markets, figuring gold was a much safer haven…
What I Learned From Ray Dalio (MorningStar)
I try to learn from the best. Ray Dalio is one of them. He founded Bridgewater Associates, one of the biggest hedge funds in the world. Many retail investors have not heard of him, probably because his funds are open only to big institutions. It’s a terrible mistake to limit yourself to listening only to the musings of mutual fund managers. Doing so means that you will ignore many of the best investors. Dalio’s perspective is invaluable. He’s willing to entertain seemingly loony ideas. For example, in 2001 he had his firm develop a depression gauge. In 2003, Nobel Prize-winning economist Robert Lucas declared that the “central problem of depression prevention has been solved, for all practical purposes, and has in fact been solved for many decades…
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