Ray Dalio Says Cash is Not a Safe Place Right Now Despite Heightened Market Volatility (CNBC)
Bridgewater Associates’ Ray Dalio stood by his belief that cash is not the place to be despite the volatility in the markets triggered by the new Covid omicron variant. “Cash is not a safe investment, is not a safe place because it will be taxed by inflation,” the founder of the world’s biggest hedge fund said Tuesday on CNBC’s “Squawk Box.”
Europe’s “Top Trader” Escapes to a Hedge Fund (eFinancialCareers.com)
In a year when hedge funds like Balyasny are engaged in some enormous hiring, the temptation to move to a hedge fund is considerable. – Especially if you happen to be an equities index trader and you’ve just won an award. Sources say that Laimonas Staskus, a director in EMEA equity trading at BlackRock has succumbed. He’s understood to have resigned and is off to join a hedge fund. It’s poignant because Staskus was named “trader of the year” for long only funds by the Trade Magazine just three weeks ago, BlackRock didn’t respond to a request to comment on Staskus’ untimely exit, and he declined to elaborate. It’s not clear which fund Staskus is joining, but Balyasny would presumably be very pleased to hear from him.
Activist Bluebell Asks Glencore to Separate Its Coal Mines (Bloomberg)
Activist hedge fund Bluebell Capital Partners has asked Glencore Plc to separate its thermal coal business because it has become a barrier to investment. The hedge fund firm said that the commodities giant could realize more value for shareholders if it separates that business, simplifies its asset base, disposes of non-core asset Viterra, and tackles governance issues. Bluebell’s partners Giuseppe Bivona and Marco Taricco made the demands in a letter to the company, a copy of which was seen by Bloomberg.
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Bill Ackman Says the Omicron Virus Variant Could Actually Boost the US Markets If Its Symptoms End Up Being Mild (Business Insider)
The new Omicron coronavirus variant could end up boosting the US stock market, said the hedge fund manager Bill Ackman. “A thought,” Ackman wrote in a tweet Sunday evening. “While it is too early to have definitive data, early reported data suggest that the Omicron virus causes ‘mild to moderate’ symptoms (less severity) and is more transmissible. If this turns out to be true, this is bullish not bearish for markets.”
Marathon Asset Management: Best Liquid Alternative Fund – Credit Hedge (Hedge Week)
Firms across the asset management industry are beginning to reflect on lessons learned from the pandemic as we move into a new phase. Andrew Brady, Partner, Co-Head of Corporate Credit at Marathon Asset Management, comments: “This environment has provided reminders to prioritise firm-wide coordination to serve clients by investing with humility and a margin of safety, avoid leverage on investment exposures, and to prepare for the unexpected, especially when risk tolerance is high, and attractive investments are scarce.” Marathon has navigated the challenges through its belief that investment flexibility and objectivity, humility in forecasting, experience from past market dislocations, risk discipline, and integration across teams were critical to adapt to the changing landscape.
