Ray Dalio Tries to Silence Tell-All that Pierces Veil of ‘Benevolent Business Titan’ (New York Post)
Hedge fund titan Ray Dalio — who has famously promoted “radical transparency” as a management mantra — hired a team of high-priced lawyers to threaten the publication of a new book that claims to reveal some ugly truths about the investment firm he started. The new book by reporter Rob Copeland, “The Fund: Ray Dalio, Bridgewater Associates, and the Unraveling of a Wall Street Legend,” is slated for release by Macmillan Nov. 7. But earlier this year, Dalio and Bridgewater – the behemoth fund he founded – threatened the publisher with multibillion-dollar lawsuit, according to letters obtained by On The Money.
Apple’s Stock is the Biggest Short for Investor Dan Niles Amid Worries About China’s iPhone Ban (Business Insider)
Hedge fund investor Dan Niles says he’s betting hard against iPhone maker Apple, which is now his largest single-stock short position. “Sold $AAPL & now our largest single stock short,” the Satori Fund founder and senior portfolio manager said in a post on X Thursday. Niles cited three reasons for his bearishness toward the Big Tech giant – including worries about China’s iPhone ban.
Event Driven and Equity Hedge Strategies Lead Hedge Fund Gains in August (Hedge Week)
Hedge funds posted gains in August led by event driven and equity hedge strategies, with the HFRX Event Driven Index gaining +1.10%, and the HFRX Global Hedge Fund Index gaining +0.33% for the month, according to the latest data from HFR. Merger arbitrage managers and special situations equity strategies drove event driven gains as activity in global M&A deals continued through the month. The HFRX Special Situations Index gained +1.08% for the month from exposures to global catalyst-driven, fundamental value equities.
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2 FAANG Stocks Have Brilliant Wall Street Billionaires Betting Big Ahead of the Next Bull Market (The Motley Fool)
Hedge fund managers David Tepper and Karthik Sarma are heavily invested in Amazon and Netflix, respectively. Amazon has significant growth prospects in multiple markets, and the stock looks cheap at its current valuation. Netflix is the streaming market leader by almost any metric, but the stock looks somewhat expensive. Some of the smartest, wealthiest hedge fund managers have built sizable positions in these FAANG stocks. Some investors define the beginning of a bull market as the point when the S&P 500 rebounds 20% from a bear market low. But other investors reserve the term for when the index reaches a new record high. The S&P 500 has already entered a bull market based on the former definition, and it sits just 6% from bull market territory based on the latter.
Hedge Funds Show Increased Interest in Crane (Clayton County Register)
HRT Financial LP, a hedge fund, recently purchased over 19,000 shares of conglomerate company Crane in the 1st quarter. The total value of the shares is estimated to be over $2 million. Several other hedge funds have also made changes to their holdings of Crane. Brandywine Global Investment Management LLC increased its position in the company by 30.8%, while Independent Advisor Alliance acquired a new stake in the company worth $545,000. Clearbridge Investments LLC and UBS Group AG also increased their holdings in Crane. WINTON GROUP Ltd, another hedge fund, also purchased shares of Crane in the 1st quarter.
