Coatue, Ackman Invest in Trading-Focused Social Network Commonstock (Reuters)
Oct 5 (Reuters) – Commonstock, a social network platform for retail investors, said on Tuesday it had raised $25 million in a funding round led by hedge fund Coatue and from others including billionaire investor Bill Ackman and Hollywood power broker Ari Emanuel. The company, which lets users on its platform copy each others’ trades and discuss and rank investment strategies, did not disclose the valuation at which the funds were raised.
How Billionaire Ray Dalio Became Business Coach to Sean ‘Diddy’ Combs – and Tips from Dalio on Getting Your Own (CNBC)
Billionaire Ray Dalio believes in an old saying: “When the student is ready, the teacher will appear.” That may explain how Dalio, a hedge fund tycoon with a net worth of $20 billion, according to Forbes, became a mentor to entrepreneur and music mogul Sean “Diddy” Combs. The two met during a photoshoot for Forbes magazine’s list of “100 Greatest Living Business Minds” in 2017 when Combs approached Dalio and started asking him questions, Dalio tells CNBC Make It.
The Richest Hedge Fund Managers On The 2021 Forbes 400 List (Forbes)
The wealth of hedge fund billionaires on the Forbes 400 is the highest it has ever been, amid strong industry returns so far in 2021. It’s a good year to be a hedge fund billionaire. Today Forbes released the 2021 edition of The Forbes 400 list of the richest people in the United States, and the 25 wealthiest hedge funders are worth a combined $220 billion, up an impressive $35 billion from last year. In the first half of 2021, hedge funds returned an average of just over 10%—the strongest industry returns in more than two decades, according to an analysis by data and analytics firm Hedge Fund Research.
Hedge Fund Billionaire Ken Griffin Slams Crypto as a ‘Jihadist Call’ Against the Dollar – and Says Regulation will Oust Those Looking to Make a Quick Buck (Business Insider)
Citadel founder Ken Griffin has taken a swipe at crypto cheerleaders, saying their efforts are a “jihadist call” against the dollar. “I wish all this passion and energy that went to crypto was directed towards making the United States stronger,” the hedge fund billionaire said at the Economic Club of Chicago. “It’s a jihadist call that we don’t believe in the dollar,” he said Monday. “What a crazy concept this is, that we as a country embrace so many bright, young, talented people to come up with a replacement for our reserve currency.”
How “Explosive” Energy Prices are Fuelling a Quant Hedge Fund Surge (Hedge Week)
The “explosive” upward price movements in energy markets are helping power performance among machine-based hedge funds this year, as CTAs and trend-following strategies successfully lock onto strong price signals. The rally in energy prices have proven one of this year’s most reliable and enduring trends, according to David Gorton, founder and chief investment officer, DG Partners.
Andurand’s Hedge Fund Surges 50% Amid Commodities Boom (Bloomberg)
Oil trader Pierre Andurand’s hedge funds are having yet another banner year, with one of his money pools returning 50% even before a surge in September. The gains by his Andurand Commodities Discretionary Enhanced Fund, disclosed in a letter to investors this week and seen by Bloomberg, follow last year’s 154% advance. His older Andurand Commodities fund, which returned 68.6% last year, was up 25.7%.
