Bitcoin Has a ‘Real Problem’ in U.S.: Paul Tudor Jones (CoinDesk)
Hedge fund manager Paul Tudor Jones said that bitcoin (BTC) has become less attractive thanks to what’s become an unfriendly regulatory picture in the U.S. and what he expects will be lower inflation going forward. “Bitcoin has a real problem because in the United States, you have the entire regulatory apparatus against it,” Jones said on CNBC’s Squawk Box. Jones – who previously lauded bitcoin’s appeal as an inflationary hedge – added that he believes inflation will continue to come down, adding to the less-bullish scenario for the crypto.
Elliott Seeks Shakeup at NRG After ‘Worst Deal’ of Decade (Bloomberg)
Elliott Investment Management LP is calling for a boardroom shakeup at NRG Energy Inc., the second time in six years the activist investor has pushed for changes at the independent US power producer. Elliott said in a letter sent to NRG’s board Monday that the company “has meaningfully underperformed due to a number of operational and strategic missteps.” The investor said it now manages funds that have an economic interest of more than 13% in NRG and is calling on the board to add new, independent directors.
George Soros Just Gave Up on Tesla (TSLA) Stock (Investorplace.com)
George Soros’ family office recently sold its entire Tesla (TSLA) stake. The electric vehicle (EV) leader is falling on the news. The fact that the hedge fund has cashed out completely casts a dark shadow over the company. This week isn’t off to a good start for Tesla (NASDAQ:TSLA). The electric vehicle (EV) leader is falling today on news that George Soros has dumped his entire stake in the company. Soros, one of the world’s most prominent hedge fund managers, has recently trimmed his position in several other companies, including Rivian (NASDAQ:RIVN). But according to a 13F form published on Friday, May 12, Soros Fund Management, his family office has cashed out of Tesla entirely.
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Rookie of the Year 2022: Protean Select (Hedge Nordic)
Stockholm (HedgeNordic) – One of the first distinctions up for grabs in the lifecycle of a newly-launched hedge fund in the Nordics is the “Rookie of the Year” award. The main award categories at the Nordic Hedge Award are only open to funds with a track record of at least three years. As a result, the “Rookie of the Year” award is just one of the two honors – in addition to the 12-month performance award – a young hedge fund can compete for. This prize rewards the most promising hedge fund debut of the passing year, as decided by a group of fellow fund managers.
I’m a UI Engineer at Citadel Who’s Worked at Netflix and Google. Here are 7 Important Lessons that have been Critical to My Rise at Ken Griffin’s $57 Billion Hedge Fund. (Business Insider)
Kristofer Baxter leads a team of about 20 UI engineers at Citadel, a $57 billion hedge fund. His team designs tools used by Citadel employees to help them get the most out of the fund’s tech. This is his story charting his career path and important lessons learned, as told to Bianca Chan. This as-told-to essay is based on a conversation with Kristofer Baxter, a 39-year-old engineer leading a UI team at Citadel, a $57 billion hedge fund founded by billionaire Ken Griffin and headquartered in Miami. It has been edited for length and clarity.
RealReal Soars After Michael Burry’s Hedge Fund Discloses Stake (Seeking Alpha)
RealReal (NASDAQ:REAL) broke higher in afternoon trading on Monday after Scion Asset Management disclosed a new position of just over 684K shares as of March 31. RealReal was one of just 21 stocks held by Michael Burry‘s firm at the end of Q1. Shares of RealReal (REAL) were up 16.95% as of 1:01 p.m. to $1.31 vs. the 52-week trading range of $1.00 to $4.07. Volume was above normal activity at over 5.5M shares.
These Hedge Funds Show How Broken the Market Is Today (Money Morning)
Dear Reader, Mid-May is always an important time for me – and the markets. It’s when we get a look at the 13F filings among the big hedge funds. This is historically an opportunity for some of the best stock pickers to display their grit, prove their mettle. I remember first hearing about Bill Ackman‘s big bet on Chipotle Mexican Grill Inc. (CMG) a few years ago through a 13F. He took his stake with a big bet on steak burritos. And the company, through innovation and great leadership, created an incredible brand and grew solid fundamentals that built sustainable business success.
Risk-Parity Trade Is Ready for Rebound as ‘Teflon’ Stocks Ignore Trouble, AQR Says (Bloomberg)
One year after the inflation shock wreaked havoc for diversification strategies on Wall Street, AQR Capital Management sees brighter days ahead for a popular quant trade that spreads money across assets. According to the Greenwich, Connecticut-based systematic manager, so-called risk parity investing — which allocates to everything from stocks and debt to commodities based on their volatility — is ready for a revival as bonds re-establish their traditional role as a portfolio diversifier.
Scandinavian Credit Fund I Open for Business Once Again (Hedge Nordic)
Stockholm (HedgeNordic) – Direct lending vehicle Scandinavian Credit Fund I temporarily suspended deposits and withdrawals in December to address the challenge posed by the illiquid nature of its investments and the influx of redemption requests received during November and December. By repaying the requested redemptions after the repayment of underlying loans in the first quarter, Scandinavian Credit Fund I has been reopened for deposits and withdrawals as of May 12.
Monday 5/15 Insider Buying Report: CPE, TLS (Nasdaq.com)
At Callon Petroleum, a filing with the SEC revealed that on Thursday, Director Steven A. Webster purchased 50,000 shares of CPE, for a cost of $30.97 each, for a total investment of $1.55M. Callon Petroleum is trading up about 1.5% on the day Monday. And on Friday, CEO John B. Wood bought $906,000 worth of Telos, buying 400,000 shares at a cost of $2.27 each. Before this latest buy, Wood made one other buy in the past year, purchasing $730,000 shares at a cost of $3.65 a piece. Telos is trading up about 10.8% on the day Monday. So far Wood is in the green, up about 19.2% on their buy based on today’s trading high of $2.70.
Over $65M Bet On This Healthcare Stock? Check Out These 3 Stocks Insiders Are Buying (Benzinga)
Pulse Biosciences: The Trade: Pulse Biosciences, Inc. (PLSE) Director Robert W Duggan acquired a total 10,022,937 shares an average price of $6.51. To acquire these shares, it cost around $65.25 million. Reneo Pharmaceuticals: The Trade: Reneo Pharmaceuticals, Inc. (RPHM) Director Niall Odonnell acquired a total of 125,000 shares at an average price of $8.00. To acquire these shares, it cost around $1 million.
