Dmitry Balyasny is Recruiting Interns Out of High School. Here’s How the $12 Billion Firm is Trying to Diversify the Financial Industry by Scouting Young Talent. (Business Insider)
A typical day in the life of a high school senior includes college test prep, filling out college applications, and worrying about getting a prom date — not so much an internship at a hedge fund. Dmitry Balyasny, however, has an opportunity for those high achievers that want to get a feel for the finance industry before they even start college.
Former Capstone Money Manager Gets Squarepoint Cash for New Hedge Fund (Bloomberg)
Ben Durham, a former portfolio manager at Capstone Investment Advisors, is preparing to start his own hedge fund with capital from investors including Squarepoint Capital. Durham, 39, is setting up Decagon Asset Management and plans to start trading by the middle of this year with seed capital from Squarepoint, the two firms said in a statement. Decagon will be based in London and New York and will bet on the booming market for corporate deals.
These Hedge Funds Made Money in January’s Downturn (Institutional Investor)
While many of their peers were down sharply last month, several funds specializing in either tech or healthcare were up. It’s no secret that January was a nightmare for many tech and healthcare funds, especially for the many funds that were down by double digits. These include big names like Tiger Global, Melvin Capital, Perceptive Advisors, and RTW Investments.
Source: pexels
Per Johansson and Team Join Catella Fonder (Hedge Nordic)
Stockholm (HedgeNordic) – Bodenholm founder Per Johansson and his team at Boden Capital are joining Catella’s fund management business acquired by Swedish investment company Athanase Industrial Partner. Johansson will be the new head of fund management at Catella Fondförvaltning, which is changing its name to Celina Fondförvaltning.
Managed Funds Association Calls for Regulatory Action to Strengthen US Markets (Hedge Week)
The Managed Funds Association (MFA), an organisation representing the global alternative investment and private funds industry, has released policy recommendations for market structure reform in the equity, Treasury, and security-based swaps markets. In its proposals, MFA advocates for proactive ways financial regulators can modernise the US market structure to enhance the strength and resiliency of markets and promote stability, liquidity, and integrity.
SEC Chair Gary Gensler Wants to Know More About What Hedge Funds and Private Equity are Doing (CNBC)
Securities and Exchange Commission Chairman Gary Gensler kicked off an ambitious regulatory agenda this year – and his agency is pushing forward on key measures for hedge funds and private equity. The federal agency is meeting on Wednesday to consider three new rules: more disclosure from hedge funds and private equity funds, more disclosure regarding cybersecurity risks and attacks, and shortening the date on which stock transactions must be settled, a fallout from the GameStop saga.
China’s Quant Hedge Funds Stumble After Breakneck Growth (The Wall Street Journal)
Some data-driven Chinese hedge funds have stumbled, after several years of eye-catching returns and surging inflows from investors. These quantitative fund managers use statistical models to select stocks and time trades, relying on machine-developed trading algorithms to filter out human weaknesses and find patterns in the market. The rise of Chinese quant investing mirrors earlier growth on Wall Street, with stock markets in both countries being large and liquid.
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.
