The Conversation: Ray Dalio (Fortune India)
Ray Dalio, founder and co-chief investment officer, Bridgewater Associates — the world’s biggest hedge fund — manages $150 billion in assets. With over 50 years of experience in macro investing, 72-year-old Dalio has been successful in creating a practical investing template by analysing patterns in history and has helped Bridgewater’s flagship Alpha Fund clock net gains of $46.5 billion since inception in 1991. Dalio’s book, Principles for Dealing with the Changing World Order, examines the big cause-effect relationships of economic events that have shaped the world we live in.
Tiger Global Just Led a $12 Million Series A into Devron, an AI Fintech Launched by a Former CIA Agent that’s Tackling One of Wall Street’s Biggest Data Woes (Business Insider)
Tiger Global, the global hedge fund and venture-investing powerhouse, just led a $12 million Series A investment in Devron, a fintech using artificial intelligence to solve Wall Street’s data woes. “We believe it is still early innings of the AI and data revolution that will produce trillions of dollars of economic value over the next decade,” John Curtius, partner at Tiger Global wrote to Insider in an email. And Devron’s technology has the “potential to alter the data science and AI landscape,” he added.
Crypto Hedge Funds Carving a Niche in the Alternatives Landscape (Preqin)
Cryptocurrency hedge funds throw volatility concerns to the wind as Bitcoin and Ethereum take two steps forward and one step back. Cryptocurrencies have grown into a massive market over the past five years. Estimates put the total crypto market cap near $2.21tn as of mid-January 2022, with much of that value built following the post-outbreak recovery starting in June 2020. The most recent frenzy has attracted countless investors, both professional and amateur, but this uphill push hasn’t been a smooth one, fueling arguments of a speculative market. As overall performance has been undeniably strong, month-to-month returns have varied wildly at times.
Hedgeye Sues Solstein Capital Over Alleged Intellectual Property Theft (Fox Business)
EXCLUSIVE: Independent research firm Hedgeye Risk Management has filed a lawsuit against a financial-TV personality and hedge fund manager in federal court alleging theft of the outfit’s proprietary analysis with a former company that is also subject of litigation, FOX Business has learned. Nadine Terman, the founder and CEO of Solstein Capital, is being sued for her alleged involvement in stealing Hedgeye’s intellectual property, according to a lawsuit filed Wednesday in Manhattan federal court.
Tuesday 2/8 Insider Buying Report: GNW, OFG (Nasdaq.com)
At Genworth Financial, a filing with the SEC revealed that on Friday, Director Robert P. Restrepo Jr. bought 50,000 shares of GNW, at a cost of $3.93 each, for a total investment of $196,650. Restrepo Jr. was up about 10.9% on the buy at the high point of today’s trading session, with GNW trading as high as $4.36 at last check today. Genworth Financial, is trading up about 7.4% on the day Tuesday. This buy marks the first one filed by Restrepo Jr. in the past year. And at OFG Bancorp, there was insider buying on Thursday, by Julian Inclan who bought 6,000 shares for a cost of $26.95 each, for a total investment of $161,700. OFG Bancorp is trading up about 2.1% on the day Tuesday. Inclan was up about 5.0% on the buy at the high point of today’s trading session, with OFG trading as high as $28.30 at last check today.
Pelosi Says She Would Accept Stock Ban for Lawmakers and Judges (The New York Times)
WASHINGTON – Speaker Nancy Pelosi on Wednesday said she would accept a ban on the ownership and trading of individual stocks by members of Congress, a potentially important turnaround after her initial opposition helped fuel support among politically vulnerable Democrats looking for ways to distance themselves from their leaders.
Investor Brings Insider Trading Claims Against Rocket Cos Chair (Reuters)
New lawsuit says chairman sold $500 million in shares in March 2021 before key financial metric disclosed. Related Michigan federal suit accuses company of concealing information. (Reuters) – An investor in Rocket Companies Inc, the operator of one of the largest U.S. mortgage lenders, has accused the company’s chairman of insider trading, claiming he sold $500 million in company stock before a poor financial metric was publicly disclosed.
