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.
Algebris Alumni Launch New $200m Hedge Fund Andromeda Capital Management (Hedge Week)
Andromeda Capital Management, a new hedge fund firm launched by former Algebris Investments‘ money managers Alberto Gallo and Aditya Aney, has started trading in London, according to a report by Bloomberg. In an interview with Bloomberg, the duo said the fund has secured $200 million from an undisclosed investor and capital from the firm’s partners. The firm, which specialises in credit and rates trading, is reportedly looking to grow assets to more than $1 billion. The new firm, one of the largest hedge fund start-ups in Europe this year in an admittedly quiet year for launches, will employ a strategy that will look to take advantage of market volatility as central banks act to curb inflation.
Hedge Fund Boss Laffont Says Coatue Still Mostly in Cash, Sees Stock Woes Ahead (Bloomberg)
Philippe Laffont’s Coatue Management has kept the majority of its assets in cash after slashing its hedge fund’s equity market exposure earlier this year, and he expects stocks to fall much further. The firm now has 70% to 80% of its assets in cash, Laffont said Tuesday at the Robin Hood Investors Conference in New York, according to people who heard his remarks. The event was closed to the media.
Paul Tudor Jones Correctly Predicted The 1987 Stock Market Crash: Here’s What The Billionaire Hedge Fund Manager Says Is Coming Next (TheEpochTimes)
Billionaire hedge fund manager Paul Tudor Jones sees continued weakness ahead as the U.S. economy heads for recession. What Happened: Jones, founder and chief investment officer of Tudor Investment, warned the U.S. economy is headed for a recession if it’s not already in the midst of one Monday on CNBC’s “Squawk Box.” “The Federal Reserve board is fighting something it hasn’t seen really in almost four decades,” Jones said.
Alphabet, Twitter And This Technology Stock Insiders Are Selling (Benzinga)
Alphabet: The Trade: Alphabet Inc. (GOOG) SVP, Chief Business Officer Philipp Schindler sold a total of 76,678 shares at an average price of $100.80. The insider received around $7.73 million from selling those shares. The Trade: Atlassian Corporation PLC (TEAM) Co-CEO, Co-Founder Cannon-Brookes Michael sold a total of 8,614 shares at an average price of $237.95. The insider received around $2.05 million as a result of the transaction.
Peloton Founder John Foley and Cabal of ‘Inexperienced’ Executives He Hired – Including his Wife – ‘Made $500m in Insider Share Sales’ and Still Control the Company Despite Resigning, Lawsuit from Biggest Shareholder Claims (Daily Mail)
Peloton co-founder John Foley and a cabal of other executives he hired — including his own wife — are accused of making $500 million in insider trading before stock prices plummeted. A lawsuit submitted by Blackwells Capital LLC claims that Foley and other members of the company’s board of directors ‘profited mightily’ by selling portions of their Peloton shares ‘immediately before Peloton’s major stock price decline began.’
