Citadel Gains in January Leading Early 2023 Hedge Fund Industry Returns (Reuters)
Ken Griffin‘s Citadel extended its winning streak with gains in January, weeks after ending 2022 with a $16 billion gain, the biggest profit ever earned by a hedge fund. Citadel’s flagship Wellington fund posted a 2.08% increase in January, according to an investor. The fund climbed 4.8% in December and ended 2022 with a 38.1% gain, said the person, who requested anonymity to speak about the private fund’s returns.
Hedge Fund Verde Says Victim of Brazil’s ‘Biggest Fraud Ever’ (Bloomberg Tax)
One of Brazil’s best-known hedge fund managers said it was stung by what it called the nation’s biggest case of corporate fraud on record with Americanas SA and joined banks in slamming the firm’s billionaire shareholders. Verde Asset Management, which is run by industry veteran Luis Stuhlberger and whose flagship hedge fund is up over 21,800% after fees since its 1997 inception, says its exposure to local bonds of the Brazilian retailer brought a 14 basis-point loss last month, trimming gains to 2.7% in January. “We were victims of a fraud,” Verde wrote in an investor note released Monday.
Billionaire Steve Cohen Leads $27.5 Million Investment in MediWound (CalcalisTech.com)
Cohen’s Point72 hedge fund invested $15 million in the round in what is believed to be the billionaire’s first investment in an Israeli company. Biomed company MediWound recently completed a funding round of $27.5 million, which included the sale of shares by existing investors. Calcalist has learned that the largest investor in the round is American billionaire Steve Cohen‘s hedge fund Point72, which invested $15 million. The round included the Israel Biotech Fund, founded by Shmuel Kabili, who is a prominent Israeli biomed investor, and Sol J. Barer, former chairman of the Israeli pharmaceutical giant Teva; and the aMoon fund, led by Yair Schindel. Another investor in the round was Deep Insight, which specializes in deep tech investments in Israel.
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Crispin Odey: ‘It will Take a Labour Government for the Tories to Realise Liz Truss was Right All Along’ (Telegraph.co.uk)
Hedge fund tycoon Crispin Odey has said that “we probably need a Labour” government to force the Conservative party to rally behind the low-tax economic agenda advocated by Liz Truss. Reacting to the former prime minister breaking her silence on her 49 days in Downing Street, the City investment manager conceded that last autumn “wasn’t the right moment” to thrust Trussonomics onto the British economy.
Former Hedge Fund Manager Lists 3 Reasons Berkshire Hathaway Has ‘Everything We Look For In A Stock’ (Benzinga)
Investment expert and former hedge fund manager Whitney Tilson, current president and CEO of Empire Financial Research, presented his bullish thesis on Warren Buffett holding company Berkshire Hathaway Inc (NYSE: BRK-A) (NYSE: BRK-B) at Guy Spier’s VALUEx conference in Klosters, Switzerland last week. In the presentation, Tilson explained why Berkshire has all three things he looks for in a stock: safety, value and healthy growth.
