Hedge Fund Manager John Paulson BANS Longtime Business Partner Fahad Ghaffar from String of Hotels in Puerto Rico Over 2019 Video – After He Filed $50 Million Lawsuit Against Him (DailyMail)
Billionaire John Paulson has banned his long-term business partner from his string of hotels in Puerto Rico – days after he launched a $50million lawsuit against him. Paulson, 67, has worked with Fahad Ghaffar in Puerto Rico since 2013, but a legal complaint has now lodged a wedge between the two men – with Ghaffar claiming the investment was ‘misrepresented’ to him. Ghaffar, 42, invested the money into Paulson’s F40 luxury car company in 2022, under the agreement that it would be converted into a 50 percent equity stake.
Dalio’s Shakespearean Turn Is a Sign of the Times (Bloomberg)
Playing Shakespeare’s King Lear is the crowning ambition for some actors, but in 2023 we’re seeing superstar hedge fund managers Daniel Och and Ray Dalio trying out for the role in real life. In the original version of the story, mixing myth with perhaps some nuggets of historical truth, a pre-Roman Leir of Britain retires and turns his kingdom over to his two daughters and sons-in-law, who betray and neglect him. He goes to France to enlist the help of his third daughter, who provides him with an army to retake his kingdom, where he rules for three more years before dying peacefully.
Hedge Fund Point72 Hires Credit Specialist from Third Point (Reuters)
U.S. hedge fund Point72 Asset Management, which manages $30.6 billion in assets, is hiring a credit specialist from rival fund Third Point, two sources familiar with the matter said. Louis Wang, who is on garden leave since April, will work as a portfolio manager in Stamford, Connecticut-based Point72’s macro investment business, starting in November, one of the sources said.
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How an Upcoming Supreme Court Ruling Could Benefit Alito Patron (NewRepublic.com)
A billionaire benefactor of Supreme Court Justice Samuel Alito has a significant financial stake in companies supervised by the Consumer Financial Protection Bureau, as the watchdog faces the crosshairs of an upcoming case before the high court, The New Republic has learned. Paul Singer, a controversial money manager and longtime GOP megadonor, has a hedge fund that holds at least a $90 million stake in financial companies that would stand to benefit were the court to rule against the CFPB in the pending case, captioned Consumer Financial Protection Bureau v. Community Financial Services Association of America.
‘Volatility is Opportunity’: Why This Manager Loves Shorting Stocks (AFR.com)
Four years ago, Angela Aldrich stood on a stage in New York and told the world her newly minted hedge fund Bayberry Capital Partners was shorting a winemaker listed on the other side of the world, Treasury Wine Estates. In Australia, investors were shocked. The company, Australia’s largest wine producer, had been on a three-year tear, jumping more than 300 per cent, and was showing little sign of slowing down.
