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☆ Emerging markets look attractive due to valuations, says AQR Capital's Daniel Villalon
▼ + stars: | 2024-03-26 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEmerging markets look attractive due to valuations, says AQR Capital's Daniel VillalonDaniel Villalon, AQR Capital Management principal, joins 'Money Movers' to discuss why emerging markets look like a better bet than U.S. equities, the value dislocation in the U.S. market, and much more.

Persons: AQR Capital's Daniel Villalon Daniel Villalon Organizations: AQR Capital Management Locations: U.S

Casino magnate Steve Wynn spent the night of the New Hampshire primary alongside Trump. Ron DeSantis’ biggest financial backers and donated $20 million to the super PAC backing DeSantis’ presidential bid. While some of these high-dollar financiers are coming around to Trump, others have shifted to former South Carolina Gov. Her fundraising swing through New York City is expected to bring in $1.5 million in new donations, according to a Haley campaign official. We are anywhere and everywhere in South Carolina.

Persons: Donald Trump, Steve Wynn, Robert Bigelow, Las Vegas businessman Don Ahern, Trump, Ahern, Bigelow, Ron DeSantis, DeSantis, Rebekah Mercer, Nikki Haley, MAGA, Haley – Trump’s, –, Haley, Charles Koch, Susie Wiles, Ken Griffin, Paul Singer, Ricketts, Griffin, Haley’s, ”, “, ” Griffin, Zia Ahmed, Ahmed, Dave McCormick’s, Tim Sheehy’s, Ken Langone, Cliff Asness, Stanley Druckenmiller, Nikki, ” Asness, “ We’ve, CNN’s Ebony Davis Organizations: CNN, Casino, New, Trump . Aerospace, Las Vegas businessman, Trump, Florida Gov, GOP, Mercer, Politico, South Carolina Gov, Inc, South Carolina, Republican, Prosperity, American Opportunity Alliance, Chicago Cubs, Citadel, U.S . House, ”, Republicans, Wall, AQR Capital Management, South, CBS News Locations: Lago, New Hampshire, Las, Trump’s, Nevada, Palm Beach , Florida, Florida, Trump, Kansas, Palm Beach, Pennsylvania, Montana, New York, New York City, ”, South Carolina

☆ Walmart and Target borrowing ideas from each other shows we're in a new economic landscape
▼ + stars: | 2023-12-05 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

In today's big story, we're looking at the rising similarities between Target and Walmart. Dominick Reuter/Business InsiderIf imitation is the sincerest form of flattery, Walmart and Target are embarking on some serious tributes to each other. AdvertisementTwo of the country's largest retailers are taking pages from each other's playbooks as they adjust to a changing economic landscape. And Walmart founder Sam Walton openly admitted he stole borrowed plenty of ideas from Sol Price, the originator of the wholesale club model. That's led Walmart to see an increase in higher-income clientele, a trend they're leaning into.

Persons: —, Dominick Reuter, Insider's Dominick Reuter, Dominick, Christina Hennington, it's, Sam Walton, Sol Price, That's, Charlie Flanagan, Management's Bryan Kelly, Li Deng, Mike Schuster, Sam Altman Andrew Caballero, Reynolds, Daniel Ek, Slaven Vlasic, Rebecca Zisser, Elon, Zers, Xochitl Gomez, Alyson Hannigan, Jason Mraz, Charity Lawson, Ariana Madix, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Target, Walmart, AQR, Investments, AQR Capital Management, Vatic Investments, Sigma, Investment, Barclays, ING, MSCI Israel, Tel, Tel Aviv Stock Exchange, Israel Securities Authority, Reuters, Broadcom, VMware, The New York Times, Inc, Adobe, ABC, Major, Baseball, MLB Network Locations: Israel, Tel Aviv, New York City, San Diego, London, New York

☆ Wall Street opens wallets wide for 'Trump alternative' Nikki Haley at $500K fundraiser
▼ + stars: | 2023-12-05 | by ( Brian Schwartz | ) www.cnbc.com time to read: +4 min

Attendees were asked to give between $3,300 and $16,600 per person to Team Stand for America, a joint fundraising committee benefiting her campaign, according to the invitation. A spokesman for Elliot did not return requests for comment. Chambers, Rosenkranz, a representative for for JPMorgan and a spokeswoman for AQR did not return requests for comment. A spokeswoman for the Haley campaign did not return requests for comment. Haley is trailing Trump nationally by around 50 percentage points, according to a Real Clear Politics polling average.

Persons: Nikki Haley, Haley, Donald Trump, Campbell Brown, Dan Senor, Paul Singer, Annie Dickerson, Singer's, Steve Cohen, Singer, Cliff Asness, Kristin Lemkau, Robert Rosenkranz, Ray Chambers, Lemkau, Jamie Dimon, Asness, Brown, Eric Levine, they're, Levine, Elliot, Chambers, AQR, Ken Langone, Democratic megadonor Reid Hoffman Organizations: Republican Party, Bluffton SC, Former U.S, United, New York, Wall Street, Facebook, Elliot Investment Management, Elliot Management, Politico, AQR Capital Management, JPMorgan, Delphi Capital Management, NHL's New Jersey Devils, New York Times, CNBC, Hamas, America, Trump, Home Depot, Democratic, Haley Locations: Bluffton, United States, New, Iowa, New Hampshire, South Carolina, NHL's, New York

REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsLONDON/NEW YORK, Nov 30 (Reuters) - After making hay when a summer bond rout propelled the U.S. dollar to 10-month highs, hedge funds are now pondering what lies ahead for the greenback. Five funds shared their views on the fate of the dollar. This does not represent recommendations or trading positions, which some hedge funds cannot reveal for regulatory reasons. He expects the U.S. economy to slow sharply which, alongside falling inflation, will likely hurt the dollar against some emerging market currencies. The Brazilian real, trading at 4.8908 per dollar , is up roughly 8% so far this year against the dollar.

Persons: Dado Ruvic, Jonathan Fader, Fader, Doug Greenig, Florin Court's, Greenig, Tara Hariharan, Hariharan, NWI, Carlos Calabresi, Michael Sager, Sager, Nell Mackenzie, Carolina Mandl, Dhara Ranasinghe, Kirsten Donovan Organizations: REUTERS, U.S, greenback, Swiss, Reuters, FLORIN, China Foreign Exchange Trade, Long, Garde, CIBC, Thomson Locations: U.S, American, Brazil, Colombia, Hungary, Poland, China, Asia, Brazilian, London, Carolina, New York

☆ Billionaire Asness says he is 'more a bond guy' at this moment
▼ + stars: | 2023-11-16 | by ( Carolina Mandl | ) www.reuters.com time to read: +2 min

Cliff Asness, Co-Founder, Managing Principal and Chief Investment Officer of AQR Capital Management, speaks at the Milken Institute Global Conference in Beverly Hills, California, U.S., May 2, 2016. REUTERS/Lucy Nicholson/File Photo Acquire Licensing RightsNEW YORK, Nov 16 (Reuters) - Billionaire quant investor Cliff Asness said on Thursday that he currently favors bonds over equities, given the returns that U.S. Treasuries are offering. "I'm more of a bond than a stock guy at this point," the founder principal of AQR Capital Management said when asked about his asset preferences at a virtual event hosted by Brazilian bank Banco Bradesco. "Bonds are starting to look pretty, pretty reasonable. Asness added he believes U.S. stocks are unlikely to repeat the same valuation growth they posted in the last 30 years.

Persons: Cliff Asness, Lucy Nicholson, Bonds, Asness, Carolina Mandl, Jonathan Oatis, Nick Zieminski Organizations: AQR Capital Management, Milken Institute Global Conference, REUTERS, Banco Bradesco, Treasury, Reserve, Carolina, Thomson Locations: Beverly Hills , California, U.S, Banco Bradesco . U.S, New York

☆ Analysis: Trend hedge funds come out winners in bond market rout
▼ + stars: | 2023-10-06 | by ( Nell Mackenzie | ) www.reuters.com time to read: +5 min

Yet in one corner of the hedge fund world, there's a sigh of relief. So-called trend following and systematic hedge funds have long positioned for a fall in government bond prices given higher-for-longer inflation. AlphaSimplex is a $7.9 billion trend following hedge fund. While many trend funds, also known as "managed futures" funds, use price data, their trading models might also interpret macro economic factors playing out in markets. Some trend funds shrank their fixed income holdings in response to the March turmoil.

Persons: Carlo Allegri, Kathryn Kaminski, Morningstar, Razvan Remsing, Yao Hua Ooi, Laurent Le Saint, Metori, Aspect's, Nell Mackenzie, Dhara Ranasinghe, Susan Fenton Organizations: New York Stock, REUTERS, Generale, Reuters, Silicon Valley Bank, Treasury, Virtus, AQR Capital Management, Capital Management, Thomson Locations: Manhattan, New York City , New York, U.S, United States, Germany, Boston, Silicon, Europe, China, Paris, EU, Japan

NEW YORK, Sept 27 (Reuters) - As the Federal Reserve’s hawkish stance boosts Treasury yields and slams stocks, some investors are preparing for more pain ahead. AQR's analysis showed that trend-following hedge funds tend to outperform when rates are elevated, as they hold large cash positions that benefit from higher rates. Of course, plenty of investors believe the Fed will cut rates as soon as economic growth starts to wobble. Futures tied to the Fed’s key policy rate show investors pricing in the first rate cut in July 2024. Still, he has been holding off on adding to the firm’s holdings of small-cap consumer stocks, wary there may be more market volatility ahead as investors digest higher rates and other factors, including elevated energy prices.

Persons: ”, Jake Schurmeier, Dan Villalon, Keith Lerner, Lerner, Robert Pavlik, Schurmeier, he’s, Eric Kuby, Lewis Krauskopf, David Randall, Carolina, Ira Iosebashvili, Leslie Adler Organizations: Fed, Apple, Nvidia, Treasury, U.S ., Harbor Capital Advisors, AQR Capital Management, Advisory Services, Reuters, Dakota Wealth Management, BofA Global Research, Nasdaq, North Star Investment Management Corp, Thomson Locations: Harbor

☆ Tesla tops list of most shorted stocks for third month in August - Hazeltree
▼ + stars: | 2023-09-12 | by ( Nell Mackenzie | ) www.reuters.com time to read: +2 min

Tesla stock rallied over 5% on Monday after a Morgan Stanley (MS.N) note suggested the automaker's Dojo supercomputer could bolster Tesla's market value. Hazeltree, which tracks 12,000 equities globally, said the second and third most shorted stocks last month were Charter Communications (CHTR.O) and Apple (AAPL.O) respectively. Those included investors with funds taking long and short positions in stocks: Diamond Hill, Leuthold Funds and Forum Funds. "Taking out a short position against Tesla, as Gates did, results in the highest return only if a company goes bankrupt!" Hedge funds were net short consumer discretionary stocks, which would include Tesla, for the year ending Sept. 8, according to the Goldman note.

Persons: Mike Blake, Hazeltree, Morgan Stanley, Tesla, Blackstone, Federated Hermes, Elon Musk, Bill Gates, Musk, Walter Isaacson, Gates, Goldman Sachs, Goldman, I've, Dan Izzo, Nell Mackenzie, Dhara Ranasinghe, Kevin Liffey Organizations: REUTERS, automaker's, Charter Communications, Apple, Securities and Exchange Commission, Funds, Capital Management, Federated, Microsoft, Thomson Locations: Mojave , California, U.S

☆ Warren Buffett has more in common with quant traders than it seems, elite investor Cliff Asness says
▼ + stars: | 2023-05-31 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +2 min

Warren Buffett has more in common with quantitative traders than it appears, Cliff Asness says. Buffett looks at companies' profits, risks, valuations, and many other elements of their businesses. "Yet he is very correlated with what quants would call the value factor, the low risk factor, and the profitability factor," Asness continued. Meanwhile, Buffett and other value investors look beyond those ratios to determine if a company is a bargain or not, he said. "That is not the holistic measure of value a guy like Warren Buffett, or any Graham-and-Dodd-style value investor, would look at," Asness said.

Persons: Warren Buffett, Cliff Asness, Buffett, —, David Rubenstein, Asness, It's, Graham, Dodd, quants, Read, Warren Organizations: Service, AQR Capital Management, Berkshire Hathaway, Bloomberg Locations: Berkshire

☆ Why Goldman Sachs alumni are being hoovered up by elite hedge funds like Citadel and Millennium
▼ + stars: | 2023-03-21 | by ( Alex Morrell | ) www.businessinsider.com time to read: +14 min

In November, one of the world's most consequential hedge funds announced a shake-up at the top of its power structure. In an internal memo, the founder of Millennium Management, Izzy Englander, said that Bobby Jain would be vacating the co-CIO role. "You can't readily find that managerial experience at other hedge funds and Goldman is a perfect place to look for those people." 8 former Goldman Sachs leaders are now Millennium execsEnglander isn't alone — firms rarely are in the copycat world of multistrats. In a statement to Insider, Abbey Collins, a spokesperson for Goldman Sachs, said, "Goldman Sachs has always been and remains a talent magnet.

Commodity trading advisers (CTAs) - funds that try to profit by buying or selling when there is a clear direction in markets - slumped 4.3% in the three days to Monday, according to analysis from UBS. "We have seen certainly on (last) Friday and Monday capitulation trades from hedge funds, so all hedge funds have been short duration positioned and we have heard a lot of desks needed to shut down their risk," said Kaspar Hense, a senior portfolio manager at BlueBay Asset Management. Hedge funds felt this "brutally" in Japanese markets, Hense said, where positioning from hedge funds and CTAs had been particularly "one sided" in anticipation of an end to the Bank of Japan's yield curve control policy. British macro hedge fund manager Crispin Odey's main fund posted a minus 4.7% February performance and is down 3% so far this year, said a note from his hedge fund to clients. Very few macro economic funds tracked by bank research seen by Reuters have reported March numbers.

☆ Billionaire investor Cliff Asness says stocks are 'woefully' unprepared for a macro shock in the event inflation doesn't come down as expected
▼ + stars: | 2023-02-23 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Stocks could face a macro shock if inflation doesn't come down the way markets are expecting, according to Cliff Asness. The billionaire investor said stocks were still expensive, and had more downside to come. I wouldn't call the overall market a bubble anymore, I would just say it's a very expensive market," he added. Over the past year, central bankers raised interest rates 450-basis-points to tame inflation – a move that could overtighten the economy into a recession, experts warn. That would be the highest range interest rates have been since 2007, causing Wall Street analysts to sound the alarms for an impending stock crash.

A majority of the 10 global asset and hedge fund managers surveyed by Reuters said commodities are undervalued and should thrive as global inflation stays elevated in 2023. Preqin said just 915 hedge funds were launched in 2022, the lowest in 10 years. "It's the perfect environment for macro hedge funds: central bank policy divergence, interest rate differentials, geopolitical tension, bottlenecks and each country on its own. Macro hedge funds led the industry performance through November, according to financial data firm HFR, up roughly 8%. Lyons is keen to allot more to macro hedge funds and also thinks there are good opportunities in corporate credit.

☆ Judge dismisses demands for LME disclosures on cancelled nickel trades
▼ + stars: | 2022-12-23 | by ( Nell Mackenzie | ) www.reuters.com time to read: +2 min

AQR Capital Management said after the ruling it would continue to evaluate all legal options. The other claimants in the filing were Winton Capital Management, Capstone Investment Advisors, Flow Traders (FLOW.AS) and DRW Commodities. The London Metal Exchange was represented by global law firm Hogan Lovells, instructing Brick Court Chambers. "Hogan Lovells has today secured an important victory for its client the London Metal Exchange (LME)," it said in a statement. The LME also faces lawsuits from U.S. hedge fund Elliott Associates and Jane Street Global Trading, which are suing the LME for $456 million and $15.3 million, respectively, for the cancelled nickel trades.

☆ British court set to hear demand for evidence over LME nickel crisis
▼ + stars: | 2022-12-16 | by ( ) www.reuters.com time to read: +1 min

The other claimants in the filing at the London Commercial Court were Winton Capital Management, Capstone Investment Advisors, Flow Traders (FLOW.AS) and DRW Commodities. The exchange, the world's oldest and largest market for industrial metals, has rejected the legal action as without merit. The LME is also facing lawsuits from U.S. hedge fund Elliott Associates and Jane Street Global Trading, which are suing the LME for $456 million and $15.3 million, respectively, for the cancelled nickel trades. British financial regulators launched a sweeping investigation in April of the suspension of nickel trading while the LME also commissioned its own independent review of the matter. Reporting by Eric Onstad and Nell Mackenzie in London Editing by Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

☆ Analysis: Market turmoil a boon for trend-following hedge funds
▼ + stars: | 2022-10-17 | by ( Nell Mackenzie | ) www.reuters.com time to read: +4 min

Oct 17 (Reuters) - Trend-following hedge funds are capitalising on market disruption and geopolitical unrest, with funds such as Graham Capital Management, Aspect Capital, AlphaSimplex and AQR Capital Management all near or over 40% higher for the year. AQR is part of an index of the 10 largest trend-following hedge funds, compiled by Société Générale. The index has risen almost 37% this year, compared with a 3.8% increase in data provider HFR's broader index of hedge fund performance. Hedge funds Man Group, AlphaSimplex and Transtrend have reported trend strategies with performances this year of roughly 15%, 48% and 31% respectively. Funds in the Société Générale CTA index include AQR Capital Management, AlphaSimplex Group, Aspect Capital, Systematica Investments, Graham Capital Management, ISAM LLP, Lynx Asset Management, Man Group's AHL fund, Transtrend and Winton Capital Management.

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