(Bloomberg) — Marko Kolanovic and John Stoltzfus, two of the loudest stock bulls on all of Wall Street, were convinced of one thing at the outset of 2022: The Federal Reserve would go slow, very slow, with its plan to lift interest rates. Nevermind that inflation had already soared to its highest level in four […]
Read More(Bloomberg) — Baillie Gifford recorded its biggest outflows in more than a decade last month as investors withdrew billions from its funds. In October, clients pulled around £2 billion ($2.4 billion) from the firm’s UK-based funds, according to a report by research house Morningstar, with redemptions mounting to around £9 billion in the past year. […]
Read More(Bloomberg) — The hedge fund firm formerly known as Och-Ziff “deteriorated” under the “mismanagement” of its founder Daniel Och, forcing those who succeeded him to spend years stabilizing the Wall Street firm, the company said in court filings. Och’s handling of a 2016 African bribery scandal involving the firm now rebranded as Sculptor Capital Management […]
Read More(Bloomberg) — A small equity fund backed by former Brazilian central bank chief Arminio Fraga suffered an 88% rout after leveraged bets in American outdoor sports gear company Clarus Corp. went wrong. The Rio de Janeiro-based asset manager TT Investimentos Ltda, which has two of Fraga’s nephews as founding partners, saw its TT Global Equities […]
Read More(Bloomberg) — Stanley Druckenmiller’s family office took a different approach than the investment firm of his former mentor, George Soros, as US stocks entered a bear market and reached their lows of 2022. Druckenmiller’s Duquesne Family Office sold its entire $199 million position in Amazon.com Inc. in the three months through June, while scaling back […]
Read More(Bloomberg) — Fast-money traders have just unwound about $100 billion of bearish stock-bond bets, helping the world’s biggest markets to recover from the worst first-half in history. In the past month, so-called commodity trading advisers have offloaded big short positions that were built around the idea of soaring inflation, according to analysis conducted by both […]
Read More(Bloomberg) — The smart money dumped stocks at the fastest pace on record as a vicious selloff sent the S&P 500 into a bear market. Hedge funds tracked by Goldman Sachs Group Inc. offloaded US equities for a seventh straight day Monday, with the dollar amount of selling over the last two sessions exploding to […]
Read More(Bloomberg) — Hedge funds are signaling it may be third time’s a charm as to whether US 10-year yields will climb above 3% to stay. Leveraged funds become net short on the securities at the end of May, according to the latest data from the Commodity Futures Trading Commission. That’s the first time they have […]
Read More(Bloomberg) — Calling the current environment a “crucible moment,” Sequoia Capital warned that the good times are not only over, there’s no indication when they’ll return. In a Zoom call earlier this month with the founders of its approximately 250 portfolio companies, the venture firm reviewed a 50-page presentation titled “Adapting to Endure,” according to […]
Read More(Bloomberg) — Wasim Rehman is a go-to person for investors desperate for an exit in the messy world of trading troubled, hard-to-sell assets — a sector that’s set to explode as sanctions against Russia and the ongoing equities meltdown create mountains of illiquid holdings. But Rehman — who has invested in more than 200 funds […]
Read More(Bloomberg) — A fund manager who made triple-digit gains by hedging risks in Chinese equities is now turning bullish on mainland shares. Zhao Yuanyuan’s fund at the 500 million yuan ($75 million) Shenzhen Qianhai JianHong Times Asset Management Co. has returned 138% so far in this year’s tumbling market. Her bets on infrastructure, energy producers […]
Read More(Bloomberg) — Tiger Global Management’s performance problems are piling up. The firm’s hedge fund declined 15% in April, taking its loss in 2022 to 44%, according to people familiar with the matter. Tiger Global’s long-only fund was hit even worse, tumbling 25% last month and extending its drop for the year to 52%, said the […]
Read More(Bloomberg) — Reed Hastings’s fortune was already on the decline before Netflix Inc., the streaming giant he co-founded, reported dismal first-quarter earnings. After Netflix shares plunged 35% on Wednesday, his wealth wipeout ranks among the biggest in the world, according to the Bloomberg Billionaires Index. Hastings, 61, has a net worth of $3.6 billion, down […]
Read More(Bloomberg) — Just as worries from the fallout of Russia’s invasion of Ukraine and surging Covid cases pummel Chinese stocks, a local hedge fund that jumped almost 30 times over the past five years by picking undervalued shares is ready to dive in. Guangdong Zhengyuan Private Fund Investment Management Co., which saw its assets surge […]
Read More(Bloomberg) — Hedge funds are getting fresh scrutiny from President Joe Biden’s regulators as a potential weak spot in the financial system, and the watchdogs are using last year’s collapse of the Archegos Capital Management family office as an example of what can go wrong. The Financial Stability Oversight Council — a panel of top […]
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