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.
New Hedge Fund Cybersecurity Report Reveals Changes Firms are Making in a Post-Pandemic World (PR Newswire)
NEW YORK , May 24, 2022 /PRNewswire/ — Agio, a leading cybersecurity and managed IT provider for financial services firms, published its inaugural 2022 Hedge Fund Cybersecurity Trends Report today. The survey was conducted in Q1 and captured the opinions and perceptions of recent, current, and future cybersecurity programs, readiness, and initiatives from 100 hedge fund practitioners across the technology, operations, cybersecurity, and compliance fields.
May Figures from Eurekahedge Show Hedge Funds Outperforming NASDAQ and S&P 500 (Institutional Asset Manager)
The latest May report from Eurekahedge With Intelligence reveals that hedge fund managers were down 0.72 per cent in April, outperforming the tech-heavy NASDAQ and S&P 500 by 12.54 per cent and 8.08 per cent respectively. Around 80.1 per cent of global hedge funds have outperformed the S&P 500, while 44.4 per cent of them have generated positive returns in April. On a year-to-date basis, global hedge funds are down -1.83 per cent, outperforming the S&P 500 which returned -13.31 per cent over the same period.
Hedge Funds In The Red For Q1, But Wide Dispersion Flashed Green For Commodities, Red For Equities (Forbes)
After a robust 2021, the first quarter brought a significant pullback in hedge fund performance. However, the first quarter was also marked by a sizable divergence according to strategy. The best-performing strategy returned 12.09%, while the weakest strategy was down 6.76%.
ICG Raises $1.1bn for Asia Pacific Fund IV (Opalesque)
Global alternative asset manager Intermediate Capital Group (ICG) has held the final close of its Asia Pacific Fund IV at $1.1 billion, exceeding its target of $1 billion. Fund V, which is 60 percent larger than its predecessor fund, received support from a broad and international group of investors looking for exposure to Asia and is currently 32% deployed, with four deals completed to date. “The Fund represents ICG’s flagship strategy for Asia, with 20 years of track record in the region, focusing on locally sourced and directly originated mid-market companies in developed Asia,” said a press release from the private equity investment firm headquartered in London.
Monday 5/23 Insider Buying Report: NCBS, UFI (Nasdaq.com)
On Wednesday, Nicolet Bankshares’ Director, John Nicholas Dykema, made a $758,957 purchase of NCBS, buying 10,000 shares at a cost of $75.90 a piece. Nicolet Bankshares is trading up about 2.7% on the day Monday. And at Unifi there was insider buying on Wednesday, by Kenneth G. Langone who purchased 50,000 shares at a cost of $13.57 each, for a trade totaling $678,680. Before this latest buy, Langone made one other purchase in the past year, buying $524,920 shares at a cost of $21.00 a piece. Unifi is trading down about 0.4% on the day Monday. Langone was up about 4.0% on the buy at the high point of today’s trading session, with UFI trading as high as $14.11 at last check today.
Executives Sell Around $325M Of 3 Stocks (Benzinga)
Kyndryl Holdings: The Trade: Kyndryl Holdings, Inc. (KD) 10% owner International Business Machines Corp sold a total of 22,301,536 shares at an average price of $13.95. The insider received around $311.11 million from selling those shares. Royalty Pharma: The Trade: Royalty Pharma PLC (RPRX) Director Rory B Riggs sold a total of 150,000 shares at an average price of $39.42. The insider received around $5.91 million from selling those shares.
