Einhorn Says Twitter Is The Biggest Long Bet He’s Made This Year (Bloomberg)
David Einhorn, the founder of Greenlight Capital who was among hedge fund managers wagering on Twitter Inc., said he believes that Elon Musk will go through with his deal to buy the social media company this year. “It’s pretty much the only sizable long investment we’ve made the entire year because we’ve been very cautious with the bear market,” he said Tuesday in a Bloomberg Television interview on Tuesday. “Investing in something like Twitter, which I think will resolve this year, is good because I should get the cash out to redeploy into the next thing.”
Another Hedge Fund Keeps Hiring Technologists from Banks (eFinancialCareers.com)
Balyasny has got competition. The US hedge fund which is building out its technology function under Mike Grimaldi, the former head of technology at JPMorgan’s corporate and investment bank, has been joined by another fund recruiting technology talent: Brevan Howard. Brevan Howard is expanding under chief executive Aron Landy, who was appointed by Alan Howard in 2019. It’s hiring portfolio managers. It’s also hiring technology professionals who’ve managed major functions for banks.
Pershing Square Holdings: Deep-Value Play for Long-Term Investors (FX Street)
Pershing Square Holdings is a closed-ended hedge fund managed by Pershing Square Capital Management. The fund invests in undervalued large-cap stocks with steady cash flow and uses hedging and other strategies to maximize returns and minimize risk. The fund is trading at a deeper-than-normal discount to NAV which is setting up a buying opportunity. If the name Pershing Square Holdings Ltd (OTCMKTS: PSHZF) sounds familiar it should. It is a closed-ended hedge fund traded on the OTC pink sheets (in the US) and headquartered in London (where it trades on the London Stock Exchange). The fund was launched by Pershing Square Capital Mgt, one of the world’s most prominent hedge fund investment firms, which was founded by Bill Ackman, one of the world’s most prominent investors.
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Ray Dalio Says Bridgewater’s Framework for Its Radical Culture will Live on Without Him, Like the Constitution and the US (Business Insider)
GREENWICH, Connecticut — Ray Dalio, the billionaire founder of Bridgewater Associates, said on Tuesday that he’s not going to stop investing just because he’s stepping away from the firm he founded in 1975 and grew to become the world’s largest hedge fund. “I love the investment game, so I’ll keep playing it. I’ll keep doing it, coming up with my ideas, and so on. And then I’ll also help them be more successful by operating as a mentor,” Dalio said on stage at the Greenwich Economic Forum in Connecticut, referring to the team at Bridgewater.
Danske Hedge Funds Opening Up Again (Hedge Nordic)
Stockholm (HedgeNordic) – Two of Danske Bank’s fixed-income hedge funds were closed to new subscriptions at the end of March after approaching their maximum capacity. After several difficult months for fixed-income markets and strategies across the board, Danske Invest Hedge Fixed Income Strategies Fund and Danske Invest Hedge Fixed Income Relative Value Fund have been re-opened for new subscriptions. “This closure was for an undetermined period of time. Since new capacity of investments is now existing, the Board has decided to reopen these Cells to new subscriptions and conversions in for all the share classes and for an undetermined period of time,” says a notice to investors.
