News by tag: Hedge Fund

05.01.2018

Warren Buffett won $1 million bet against Hedge Fund

In 2007, Warren Buffett, the famed billionaire investor made a $1 million bet that an S&P 500 stock index fund would outperform a basket of hedge funds over the course of a decade.  The index fund returned 7.1% compounded annually over the 10-year period, easily beating the 2.2% average return of a basket of funds picked by asset manager Protégé Partners, according to The Wall Street Journal. The Wall Street Journal reported that when the New York Stock Exchange closed on Friday, Dec. 29, Buffet, chairman of Berkshire Hathaway Inc., had won the bet — and it wasn't close.

 
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14.12.2017

Artificial intelligence could change the art of investing

Artificial intelligence (AI) has already changed some activities, including parts of finance like fraud prevention, but not yet fund management and stock-picking. That seems odd: machine learning, a subset of AI that excels at finding patterns and making predictions using reams of data, looks like an ideal tool for the business. Yet well-established “quant” hedge funds in London or New York are often sniffy about its potential. In San Francisco, however, where machine learning is so much part of the furniture the term features unexplained on roadside billboards, a cluster of upstart hedge funds has sprung up in order to exploit these techniques.

 
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17.10.2017

Credit Suisse targeted by activist hedge fund

Activist investor RBR Capital Advisors, supported by Gaël de Boissard, a former Credit Suisse investment bank co-head on Tuesday confirmed it has built a position in Credit Suisse and has been talking with the Swiss bank's management. RBR Capital Advisors will reveal its plan later in the week at a conference in New York, the Financial Times reported. According to the report, the plan will offer the argument for a three-way split of Credit Suisse into an investment bank, an asset management group and a wealth manager accommodating the Switzerland-based bank's retail and business banking operations.

 
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27.09.2017

Another Big Hedge Fund near to shut down

David Perry plans to end the main operations of TeamCo Advisers LLC by early 2018 and ultimately shut the firm, he told Reuters in an interview, making his San Francisco-based business the latest casualty in the struggling fund of hedge funds industry. Firms like TeamCo that manage portfolios of hedge funds for wealthy individuals and institutional investors have come under pressure as the performance of their underlying investments has lagged, making it harder for them to justify their extra layer of fees.

 
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20.09.2017

Bitcoin is a Bubble, chief of the world's largest hedge fund says

The founder of the world's largest hedge fund he believes that there's a bubble in the bitcoin market. Ray Dalio is the founder of Bridgewater Associates, which according to recent rankings is the biggest hedge fund by total assets under management. Per its website, Bridgewater manages around $160 billion in assets.

 
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15.09.2017

Difficult decision, says Hendry closing Hedge Fund after 15 years

Global macro fund manager Hugh Hendry has taken the “difficult decision” to close his flagship hedge fund after 15 years, in a move which will see Eclectica Asset Management close as well, Citywire Selector has learned. In a shareholder letter seen by Citywire Selector, the London-based investor, who is founder and chief investment officer of Eclectica Asset Management, said the Eclectica fund would be closed and, ultimately, the firm would shut down as well.

 
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26.06.2017

Activist Third Point takes $3.5 billion stake in Nestlé

Billionaire activist investor Daniel Loeb's Third Point LLC hedge fund has taken $3.5 billion stake in Nestlé. The stake amounts to about 1.25% of swiss company's shares. The hedge fund is proposing Nestlé set a formal profit margin target of 18-20 per cent by 2020, boost its debt to buy back shares, put up for sale non-core products in its portfolio, and sell its 23 per cent stake in cosmetic maker L’Oréal, a stake with a market value of about $27 billion. Nestle’s current operating margin is about 15 per cent. Nestlé did not respond immediately to requests for comment.

 
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15.02.2017

Hedge Funds bet on Bitcoins buying claims from MtGox victims

Four hedge funds from the US and Japan have begun the process of buying or offering to buy claims from former MtGox clients at 15% of the yen value of the claim, in cash. This is 40% lower than the expected eventual repayment from the court (at 25% of the value of the claims), but it might be worth it if you don’t want to wait a year or more as the case is not expected to be settled any time before that.  The hedge funds are betting on bitcoin gaining value, which it has, considerably since the claims were lodged in the aftermath of Mt Gox’s failure. The hope is to strike a lucrative windfall when the process of distributing payouts to claimants begins.

 
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30.09.2016

Hedge Funds put Deutsche Bank under pressure

Deutsche Bank is putting a scare into the financial world Thursday as reports have surfaced of some fund managers cutting exposure to Europe’s largest investment bank. A Bloomberg report that about 10 hedge funds that clear derivatives trades with Deutsche, including Millennium Partners, Capula Investment Management and Rokos Capital Management, had withdrawn some excess cash and adjusted positions held at the lender because of concerns over its problems, citing an internal document.

 
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