Stanley Druckenmiller Says the Fed’s Easy Money is Lulling Investors into a False Sense of Security (CNBC)
Billionaire hedge fund pioneer Stanley Druckenmiller believes the Federal Reserve’s continued easy money measures have distorted asset prices and lulled investors into a false sense of security. “The market is not speaking right now,” Druckenmiller told CNBC’s Joe Kernen in an email Thursday, shortly after stock futures shot up despite stronger-then-expected numbers on May consumer prices. The S&P 500 reached an all-time high shortly after the opening bell.
UK Hedge Fund Billionaire Alan Howard Backs Crypto Investment Platform Kikitrade (Deal Street Asia)
Kikitrade, an Asia-based crypto investment platform, has closed a Series Pre-A extension round of financing from British hedge fund billionaire Alan Howard, as the startup ramps up efforts to serve increasingly tech-savvy young generations across largely untapped markets.
The Inside Story of How Tiny Hedge Fund Engine No. 1 Reshaped Exxon’s Board (Fast Company)
The board of ExxonMobil, the largest oil company in the United States, includes the CEO of Merck and the former CEO of Caterpillar. They now have some new colleagues: three board members that the fossil fuel company didn’t want—and who plan to push for a coherent plan to address climate change. That’s thanks to Engine No. 1, a hedge fund that didn’t even exist a year ago.
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Hedge Fund Behind Amazon-MGM Deal Amasses Big Bet on Uranium (The Wall Street Journal)
The hedge fund behind the Amazon.com Inc. -MGM Holdings Inc. deal has another trade up its sleeve: going big on uranium. New York hedge fund Anchorage Capital Group LLC has amassed a holding of a few million pounds of uranium, people familiar with the matter say, in a bet that prices of the nuclear fuel will recover after a decade in the doldrums. It is buying and selling uranium alongside mining companies, specialist traders and utility firms with nuclear-power plants, turning the fund into a significant player in the market.
Twitter Appoints New Board Member to Replace Elliott’s Cohn (Reuters)
(Reuters) – Twitter Inc on Wednesday appointed development finance executive Mimi Alemayehou to its board of directors to replace Elliott Management partner Jesse Cohn, after the activist hedge fund helped create a blueprint for changes that led to a doubling of the social media firm’s share price. Alemayehou will join the board immediately and Cohn will step down, the company said in a release.
NLP and Sentiment: A New Tool for ESG Investors (Hedge Week)
Natural Language Processing (NLP) can enhance ESG Investing in a variety of ways, from building alpha-generating strategies to monitoring controversy risk across portfolios. Investors can make the most of the global trend in ESG investing using NLP technology, such as that developed by RavenPack, the company I work for. RavenPack generates analytics by scanning online news, identifying entities, tying them to events, and then calculating sentiment. It has a rich ESG event taxonomy covering a wide range of controversies, from news about companies being fined for pollution, to labor disputes, to lawsuits.
