Inflation will Cause Recession, Food Prices to Spiral ‘Much Further’: Hedge Fund Manager (Fox Business)
Hayman Capital Management founder and CIO Kyle Bass joined “Mornings with Maria,” Wednesday, warning that inflation will cause a “significant” recession and food prices to spiral “much further.” KYLE BASS: [The Fed] clearly, they printed too much money during their COVID response… we’re seeing about a 40% move in the price level of just about everything in our lives.
Hedge Fund Billionaire Bill Ackman: Terra was a Crypto Pyramid Scheme (Crypto News Flash)
Terra was crypto’s version of a pyramid scheme, one of the most revered investors on Wall Street has claimed. Bill Ackman, the founder of Pershing Square Capital Management believes that the Terra ecosystem’s business model was unsustainable and relied on money from new investors. Terra’s ecosystem consists of a number of products and protocols, but LUNA and UST were the most popular. LUNA is the native token of the ecosystem while UST is (or was touted to be) a stablecoin that was algorithmically pegged through LUNA minting and burning. It’s now trading at $0.09 while LUNA has nearly crashed to zero.
A Hedge Fund Manager Overseeing $2.2 Billion Sees a ‘Really Bad’ Recession Coming and Thinks Stock Valuations are Still in ‘Stupidville’ — But Says These 4 Cryptos and 5 Chinese Equities are Worth Buying Anyway (Business Insider)
Wall Street has been caught off-guard by this year’s sharp stock market sell-off, but the downturn has been anything but a surprise to Mark Yusko. The founder of North Carolina-based hedge fund Morgan Creek Capital believes that a long-awaited “great unwind” for risk assets is here. “We’re definitely where I thought we would be,” Yusko told Insider in a recent interview.
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Albemarle Asset Management: Best Relative Value Fund Under $500m (Hedge Week)
A difficult market environment gives those managers able to differentiate themselves from an alpha perspective the opportunity to thrive. This also plays into the growing investor demand for high quality boutique managers, offering targeted strategies. “This current environment is difficult, but also presents opportunities,” says Umberto Borghesi, strategist at Albemarle Asset Management, “although the increased uncertainty and its ramifications for the economic outlook are challenging, we can be best prepared for this by sticking to our process and being prepared to act both pre-emptively and after the fact, in order to generate the best possible returns for our clients.”
GME, AMC: Is Bridgewater’s Ray Dalio The New Meme Investor? (The Street)
Are mega hedge funds now buying into “meme mania”? Several financial media outlets have reported lately, with fanfare in some cases, that famed investor Ray Dalio’s Bridgewater Associates has bought GameStop stock GME and AMC Entertainment stock (AMC) – Get AMC Entertainment Holdings, Inc. Class A Report in the first quarter. These headlines, however, can be a bit misleading. I explain below why Bridgewater’s GME and AMC share purchases are likely not an indication that the Connecticut-based hedge fund has been betting big on these stocks heading to the moon.
