Without Aggresive Fed, Markets will Crash – Ackman (Tele Trader)
Billionaire hedge fund manager Bill Ackman asserted on Tuesday that the United States Federal Reserve needs to tackle inflation in an aggressive manner or face a market crash and “destruction” of demand. “In the last day or so, various current and former Fed members have waffled and made dovish remarks proposing a modest increase in rates and a pause in the fall. The Fed has already lost credibility for its misread and late pivot on inflation,” he wrote in a tweet. The Fed needs to “immediately” raise the rates to neutral and maintain a hawkish stance “until the inflation genie is back in the bottle,” Ackman added.
Citadel Goes Live on LCH’s ForexClear (The Trade)
US-based hedge fund Citadel has begun clearing FX non-deliverable forwards (NDFs) on LCH’s FX clearing service ForexClear. Citi is acting as a clearing broker for the firm on the ForexClear service which provides clearing across FX NDFs, options, spot, swaps and forward outrights. “ForexClear is an important first step in the evolution of FX markets toward central clearing, which will increase transparency, reduce counterparty risk and strengthen liquidity,” said John Niccolai, chief operating officer for global fixed income, Citadel.
Ray Dalio Says ‘Cash is Still Trash’…But Stocks are Trashier (MarketWatch)
It wouldn’t be Davos week without a CNBC exclusive interview with Bridgewater Associates’ Ray Dalio, the founder of the world’s largest hedge fund by assets under management and one of the most closely followed market commentators – at least, in the US. Dalio has become well known in recent years for explaining his long-term thesis about the US economy and assets in a series of lengthy LinkedIn articles which he has also compiled into book form. And fortunately for those who are trying to decode his musings, his outlook hasn’t actually changed all that much since the start of the pandemic.
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Hedge Fund Mogul John Paulson’s Divorce Gets Uglier as his Romanian Wife Turns Down Multi-Billion-Dollar Settlement from the 66-Year-Old Who is Worth $4.8B After He Started Dating 34-Year-Old Dietician: Attention Turns to Luxury Real Estate Collection (DailyMail.co.uk)
John Paulson‘s soon-to-be ex-wife has reportedly turned down a multi-billion-dollar settlement from the hedge fund magnate and decided to take the divorce battle to court. The 66-year-old, who is estimated to be worth $4.8 billion, is said to have no prenuptial agreement with his 50-year-old Romanian secretary-turned-wife, Jenny. Reports that Paulson is dating 34-year-old dietician Alina de Almeida have further infuriated Jenny, who only found out Paulson filed for divorce and ‘ran off’ with de Almeida after reading a Page Six article, a source told the outlet.
US Tech investing Giant Tiger Global Leads $14 Million Series A Round into AI Chatbot Startup Zowie (Business Insider)
When Maja Schaefer first started raising seed capital for her AI chatbot startup Zowie, she got in touch with a local venture capital firm Inovo. “We could talk in Polish, it was casual,” she told Insider. But the jump to raising Zowie’s Series A round was “much more difficult.” Zowie has just landed $14 million in a deal led by tech investing giant Tiger Global. The startup, which counts the likes of L’Oreal and Avon among its customers, has developed a chatbot for e-commerce sites that aims to transform customer service queries into sales.
