Billionaire Hedge-Funder Larry Robbins Asks $55 Million for New York Penthouse (MansionGlobal.com)
Billionaire hedge-fund manager Larry Robbins has listed his penthouse apartment on New York’s Upper East Side for $55 million. The roughly 12,000-square-foot unit is located at The Charles condominium on First Avenue. Mr. Robbins’s purchase of the condo for nearly $38 million in 2015 made headlines, in part because the building is situated east of Third Avenue, where prices have traditionally been lower than those closer to Central Park. If it sold for close to its current asking price, the unit would again help establish a new pricing benchmark for the area, records show.
Cathie Wood’s ARKK Lures Biggest Inflow Since 2021 Glory Days (Bloomberg)
Cathie Wood has received the biggest vote of investor confidence since her flagship strategy was near the peak of its popularity in the cheap-money era. The ARK Innovation ETF (ticker ARKK) attracted $397 million of inflows on Friday, according to overnight data compiled by Bloomberg. That was the largest influx since April 2021 — a few weeks after the fund hit its all-time high in a year that saw investors pour in a whopping $9.6 billion in total.
The Greatest Hedge Fund Manager of All Time Says to Get Your Kids This to Get Them Started Investing (Benzinga)
Ray Dalio, the legendary hedge fund manager, has shared that he gives his kids and grandkids gold coins as gifts to start them on their investment journey. Dalio founded Bridgewater Associates, the largest hedge fund in the world by a mile. According to Dalio, this lustrous metal is the best way to get kids excited about investing. He gives his grandkids a gold coin every holiday and birthday celebration.
Photo by Austin Distel on Unsplash
SVB Collapse: ‘Big Short’ Burry Big Has Good News About the Crisis (The Street)
The legendary investor and hedge fund manager believes the current crisis of confidence around banks is not a “true danger.” The collapse of Silicon Valley Bank, a major player in the startup and small business economy, has rattled business communities and global markets. The second largest failure of a bank in American history, awakened the ghosts of the financial crisis of 2008. The 2008 crisis had devastated the world economy and brought the global financial system almost to its knees. When U.S. regulators shut down SVB on Mar. 10, a shock wave thus hit the markets, some wondering if the Californian bank was the Lehman Brothers of today.
Citadel Discloses 5% Stake in Western Alliance Amid Sell-Off (Reuters)
Hedge fund Citadel on Tuesday said it bought a 5.3% stake in Western Alliance Bancorporation (WAL.N), sending a strong signal of confidence as the company was swept up in growing fears of a broader financial crisis after two other banks were seized. Western Alliance’s share price, which had tumbled on Monday, shot higher on Tuesday, rising as much as 43% shortly after the opening of trading. Earlier in the morning, its shares had been briefly halted for trading.
