The Fund That Shorted GameStop Reveals Short Positions in Credit Suisse, Silicon Valley, and Signature Bank (The Street)
Bronte Capital‘s Amalthea Fund, which disclosed short positions in GameStop and other meme stocks last year, recently revealed its short positions in the recently collapsed banks. Bronte Capital held short positions in the major meme stocks last year, calling their valuations “absurd.” The fund wrote that it made a mistake in not holding onto larger short positions in the bank longer. In its most recent fiscal year, Bronte Capital’s Amalthea Fund delivered returns above 16%. Shorting GameStop, AMC, and Other Meme Stocks: Australia-based hedge fund Bronte Capital is known among retail investors for disclosing its short positions in GameStop (GME) and AMC Entertainment (AMC).
Billionaire Steve Cohen Has a Plan to Become the King of Queens (Bloomberg)
Steve Cohen likes to boast that he’ll spend whatever it takes to win. He did it over three decades building his $27.2 billion investment business, buying the New York Mets for $2.4 billion in 2020 and then assembling a team to win the World Series at such incredible cost — his $353 million payroll is the highest in MLB history — that rival owners dubbed a penalty teams must pay when their payroll exceeds a certain level the “Cohen tax.” (The Cohen Mets haven’t won a World Series yet.)
Billionaire Investor Ray Dalio Warns US, China ‘on the Brink’ of War and ‘Beyond’ Ability to Talk (Fox Business)
After American billionaire Ray Dalio returned from his China trip with grim warnings, policy experts are chiming in on “the scale of the threat” the Communist Chinese Party poses to national security. Through his LinkedIn profile, Dalio published an article focusing on the “great power conflict” and what’s going on with China. He claimed the piece is informed by two recent visits to Beijing where he spent a total of 13 days.
Image by Gerd Altmann from Pixabay
Fund Managers ‘Excited’ About the End of Cheap Money (AFR.com)
Investors from the Future Fund to hedge fund GMO are preparing for a stock pickers market as interest rates near their peak in the cycle. As the era of cheap money comes to an end after the fastest monetary tightening in a generation, fund managers say they are “excited” about the investment opportunities that higher volatility will throw up. Speaking at The Australian Financial Review Alpha Live Summit this week, James Montier, senior investment strategist at GMO, said current market conditions were much more “appealing” for the Boston-based hedge fund.
Hedge Fund Bosses on Surging Inflows: ‘The Days of Just Going Long on Risky Assets are in the Past’ (Financial News)
Hedge fund managers see the industry as “well-positioned” to take advantage of changes in the global economy and asset pricing after investors showed confidence with billions of dollars in fresh injections into the alternative investments sector. The hedge fund industry’s net inflows eclipsed $9bn in the first quarter, the highest level since Q1 2022, according to hedge fund research firm HFR. Equity hedge funds attracted inflows of $3.3bn.
