The pressure continues to mount on Grayscale with its Bitcoin Trust (GBTC) and parent company Digital Currency Group. And as Ram Ahluwalia, CEO and co-founder of crypto-native investment advisor Lumida, pointed out in a recent thread, two new characters, Valkyrie Investments and Fir Tree have entered the “Shakespearean drama.” The motivation of the second, in … Read more
Wall Street’s fast money has a new favorite bet. Microsoft (MSFT) has replaced Amazon (AMZN) as the most popular top 10 holding among hedge funds, strategists at Goldman Sachs led by Ben Snider said in a recent note. The investment bank’s Hedge Fund Trend Monitor, which analyzes positions across 786 firms in the industry, found … Read more
Breadcrumb Trail Links Investor Financial Post Magazine Many are now taking seriously the risk high prices pose to their portfolios Soldiers walk through the rubble of battle in Remini, Italy during the Second World War. Investment advisor Arthur Salzer says the period following the war provides a useful comparison for today’s economic situation. Photo by … Read more
(Bloomberg) — The spectacular plunge of Carvana Co.’s stock price is bringing pain to many investors, but one elite group on Wall Street is feeling it acutely — hedge funds. Most Read from Bloomberg The online used-car dealer, which has seen its shares fall 97% in the last 12 months, was considered a hedge-fund darling, … Read more
London-based investment manager Man Group Plc is preparing to launch a cryptocurrency hedge fund, signaling continued investor appetite for digital assets in the wake of FTX’s monumental collapse earlier this month. Bloomberg reported on Nov. 18 that Man Group is preparing to launch its crypto-focused hedge fund through its computer-led trading unit AHL. Citing private … Read more
While the FTX crisis is continuing to unfold, the former head of risk at Credit Suisse believes the exchange’s fall from grace should be the last catastrophic event — at least in this market cycle. CK Zheng, the former head of valuation risk at Credit Suisse and now co-founder of crypto hedge fund ZX Squared Capital … Read more
Ray Dalio founded Bridgewater Associates in his Manhattan apartment in 1975 and grew it into a hedge fund colossus—with about $150 billion in assets—through astute analysis of macroeconomic trends. Along the way, he developed a set of principles, later articulated in talks, tweets, and books, that helped shape the firm’s culture of “radical transparency” and … Read more
Galois Capital, a hedge fund whose founder is credited with spotting the collapse of cryptocurrency luna this year, has been caught off guard after close to half its assets were left trapped on crypto exchange FTX, which filed for bankruptcy protection on Friday. Galois co-founder Kevin Zhou wrote to investors in recent days, in a … Read more
Big-name hedge funds are snapping up bargains in junk bonds and other corners of the corporate debt market, as they bet a sell-off sparked by the darkening global economic outlook has gone too far. Corporate debt has been hard hit this year by fears that steep increases in borrowing costs will lead to a wave … Read more
(Bloomberg) — Shares of Brazilian state-owned oil company Petroleo Brasileiro SA are cheap and have room to rise no matter who wins Sunday’s presidential runoff vote, according to local hedge fund Legacy Capital. Most Read from Bloomberg Gustavo Pessoa, partner and manager at the Sao-Paulo based 32 billion reais ($5.9 billion) asset manager, said Petrobras’ … Read more