Ken Griffin’s Citadel Hedge Fund Gained 7.5% in April Even as Markets Tanked (Bloomberg)
Ken Griffin’s Citadel scored a 7.5% return for April in its main hedge fund even as U.S. stocks posted their worst performance in decades. The $50 billion firm’s Wellington fund is up 12.7.% so far this year, making money in all five of its main strategies, according to a person familiar with the matter. The fund is market neutral, meaning its bullish wagers are matched with bearish ones with the aim of producing returns that are uncorrelated to markets. It’s also a multimanager, multistrategy platform with separate groups of traders who invest across assets classes and geographies.
Ray Dalio Predicts the Future – and What He Sees Is Concerning (The New York Times)
The Russia-Ukraine war has opened up questions about America’s role in global affairs and how the balance of power will reshuffle. These questions aren’t new; the discussion of the end of American dominance and the rise of new powers like China has captivated political and economic discourse. It is also the subject of Ray Dalio’s latest book, “Principles for Dealing With the Changing World Order.”
Anthony Scaramucci Says SkyBridge has About $4 Million of Algorand on its Balance Sheet. Here’s Why the $3.5 Billion Hedge Fund is Betting Big on the Layer-One Protocol and Its Token. (Business Insider)
After a career spanning hedge fund founder, White House adviser, and conference organizer, Anthony Scaramucci last week found himself in the 700-island nation of The Bahamas, co-hosting a four-day crypto conference with FTX founder Sam Bankman-Fried. The inaugural Crypto Bahamas conference, which drew more than 2,000 attendees from around the world, took place at a time when Scaramucci’s SkyBridge Capital has pivoted heavily into crypto from its traditional hedge fund of funds business.
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Opalesque Roundup: Global Hedge Fund Industry Capital Reaches Record Highs: Hedge Fund News, Week 15 (Opalesque)
In the week ending April 29th 2022, HFR Global Hedge Fund Industry Report said that total global hedge fund industry capital remained above the $4 trillion milestone, as managers navigated extreme volatility with leadership from uncorrelated Macro strategies, including Fundamental Commodity and Discretionary funds, as well as Quantitative, Trend-Following CTA strategies which posted record gains. Total capital inflows reached $19.8 billion in 1Q 2022, the highest quarterly inflow since 2Q 2015.
Meister’s Corvex Doubles Stake in Kindred (Casino.org)
Keith Meister’s Corvex Management has doubled its position in Kindred Group, according to a regulatory filing issued by the Swedish online gaming company. The hedge fund initiated a stake of more than 5% in Kindred in February, nearly doubling the size of that investment in less than three months. According to the notification, Corvex Management LP. holds 10.12% of the shares and voting rights in Kindred as of 25 April 2022. Corvex Management LP. serves as investment adviser to investment funds and accounts which own the securities reported in the notification,” according to the Kindred filing.
Here are the Hedge Funds that Billionaire Founders Like Julian Robertson, Bill Ackman, and Seth Klarman Trust to Manage Their Families’ Foundations (Business Insider)
Insider examined hedge-fund founders’ foundations to find their favorite managers. Many billionaires stick to their own funds to manage their families’ wealth. But others, like Baupost‘s Seth Klarman, spread their foundations’ capital across different funds. A status symbol akin to a Hamptons mansion or a private jet, the family foundation is a way for the most successful hedge-fund founders to make their marks on causes close to their hearts.
7 Warren Buffett Stocks to Buy in May and Hold for Years (InvestorPlace.com)
Warren Buffett stocks hold increasing appeal in a volatile market. These Warren Buffett stocks can keep a portfolio sailing smoothly through choppy economic waters. Bank of America (BAC) – American banks have improved greatly in quality since 2008 and are still relatively undervalued. Hershey (HSY) – The leading chocolate company has tremendous pricing power to fend off inflationary concerns. Verizon Communications (VZ) – The stable telecom operator now offers greater than 5% dividend yield. Chevron (CVX) – Energy has entered a new bull market, and Chevron is a safe way to enjoy the ride. Snowflake (SNOW) – One of the fastest and most dynamic software companies is now on sale. Visa (V) – Credit card companies are winners as global travel rebounds. StoneCo (STNE) – The Brazilian payments player is still reporting strong numbers despite stock price collapse.
Expect Lower Returns Over the Long Term: Future Fund (AFR.com)
The Future Fund has shifted $4 billion of its portfolio out of cash and a further $2 billion into hedge fund strategies as it positions for a period that its chairman describes as “challenging and volatile”. In a quarterly update, Australia’s sovereign wealth fund reported a 1.4 per cent decline in assets to $200.7 billion over the March quarter, during which interest rates rose sharply, global stocks fell and Russia’s invasion of Ukraine further panicked markets.
Monday 5/2 Insider Buying Report: WAL (Nasdaq.com)
On Thursday, Chief Accounting Officer J. Kelly Ardrey Jr. bought $236,010 worth of Western Alliance Bancorporation, buying 3,000 shares at a cost of $78.67 each. This purchase marks the first one filed by Ardrey Jr. in the past year. Western Alliance Bancorporation is trading up about 0.8% on the day Monday. Bargain hunters have the opportunity to buy WAL even cheaper than Ardrey Jr. did, with the stock trading as low as $76.40 at last check today — that’s 2.9% under Ardrey Jr.’s purchase price.
Insider Trading: May 2, 2022 (BIV.com)
Insider Neil Woodyer, director. Company: Aris Gold Corp. (TSX:ARIS). Shares owned: 4,039,778. Trade date: April 19. Trade total: $1,200,000. Trade: Acquisition of 600,000 shares at a price of $2 per share. Insider Graham Campbell Thody, director. Company: Silvercrest Metals Inc. (TSX:SIL). Shares owned: 158,571. Trade date: April 18. Trade total: $733,800. Trade: Sale of 60,000 shares at a price of $12.23 per share.
Executives Buy More Than $32M Of 3 Stocks (Benzinga)
Beacon Roofing Supply: The Trade: Beacon Roofing Supply, Inc. (BECN) 10% owner CD&R Boulder Holdings Lp acquired a total of 102,219 shares at at an average price of $58.70. To acquire these shares, it cost around $6 million. Affirm Holdings: The Trade: Affirm Holdings, Inc. (AFRM) 10% owner Jasmine Ventures Pte Ltd acquired a total of 209,902 shares at an average price of $29.67. To acquire these shares, it cost around $6.23 million.
Promoters of “Automated Cryptocurrency Fund” Charged with Fraud and Registration Violations (HedgeCo.net)
(HedgeCo.Net) The Securities and Exchange Commission has charged Block Bits Capital, LLC, Block Bits Capital GP I, LLC and their co-founders Japheth Dillman and David Mata, with conducting a fraudulent unregistered securities offering. The SEC alleges that the San Francisco-based Block Bits entities, Dillman and Mata raised almost $1 million from over 20 investors based on misrepresentations about an automated digital asset trading bot that was never functional. Dillman also falsely claimed that the fund’s assets were invested in purported risk-free “cold storage” deals, when in reality Dillman and Mata used the funds for high-risk loans and to invest in the AML Bitcoin initial coin offering, which the Commission has alleged was a fraudulent unregistered securities offering in SEC v. NAC Foundation, LLC, et al., N.D. Cal. case no. 3:20-cv-04188, filed June 25, 2020.
