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☆ These are the top business-development execs competing to hire elite portfolio managers at hedge fund giants Citadel, Millennium, Point72, and more
▼ + stars: | 2024-05-08 | by ( Alex Morrell | ) www.businessinsider.com time to read: +34 min

Unlike business development in corporate America, which focuses on growing a company's prospects with partners and clients, hedge fund BD teams specialize in scouting, evaluating, and wooing investment talent. AdvertisementFew have been involved in hedge fund BD longer than Jennifer Blake, Balyasny's global head. The fund's BD department remains in close contact with PMs after they join as a resource and advisor. Vernon Yuen/Getty Images$61 billion AUM2,200+ employeesAdvertisementKen Griffin's Citadel has outperformed not just its immediate rivals but every other hedge fund. He runs a team of about 20 as head of business development in the Americas, the largest region of the largest player in this space.

Persons: —, Griffin's, Izzy Englander's, Goldman Sachs, Headcount, execs, Dmitry Balyasny, Brendan McDermid, Jennifer Blake, Balyasny's, Morgan Stanley, Dmitri Balyasny's, Blake, it's, Federico Chavarria, Balyasny, Dave Matz, Smith Hanley, Alistair Jacobs, Dave Black, Peter Appel, Federico Chavarria MD, Andrew McHugh, Jules Biolsi, Michael Platt, he's, BlueCrest, Michael Grad, Grad, Jake Lindsay, Mungo Strachan, BlueCrest's, Brevan Howard Brevan Howard, Alan Howard, Ringo Chiu, Brevan Howard, Alan Howard's, Aran Landy, Brevan, Abu, It's, Landy, Howard, Peter Hornick, David Abbou, Jonathan Candy, Gregoire Vidal, Vidal, Tim Williams, Andy Silver, Gautam, Ken Griffin, Vernon Yuen, Ken Griffin's, Griffin, Matt Giannini, Giannini, headhunter, Matt, I've, — Thomas DeAngelis, Lindsay Previdi, Rice, Dore, Eleanor Sharkey, Melinda Urban, Mark Hansen, Julian Ulmer, Mathur, Adam Sharkie, Michael Page, Eisler, Edward Eisler, Sam Wisnia, Chris Milner, Milner, Hilary Curran, Hilary Curran Global, Rebecca Zisser, Michael Gelband, Hornick, Jeff Gelband, Mike Tiano, Eric Han, Garrett Berg, Liu, APAC Blackstone, Euan Shand, Kevin Carroll, Emily, Needham, Ostendorf, Ben Levine, Stefan Renold, LMR, Marcus Fairhurst, He'd, LMR's, Izzy, Ronda, Singh, Mark Meskin, Justin Gmelich, Steve Keller, Benjamin Williams, Madhvani, Paritosh Singh, Ben Williams, Kristina Tully, Steven Cohen, Point72, Shayanne, Steve Cohen's, Harry Schwefel, Chandler, Steve Cohen, JT Shields, They're, Schwefel, Alyssa Friedman —, Chandler Bocklage, Reid Murphy, Jae Yang, Japan Goldman Sachs, Alyssa Friedman, Jackie Dai, Gabriel Sanders, Ajay, Steven Schonfeld, Michael Nagle, Steve Schonfeld's, Ryan Tolkin, Schonfeld, doesn't, Akshay Aggarwal, Alex Burns, Ryan McCort, Colin Lancaster, Mitesh, Sameer Buch, Brittany Lynch, DMFI, Goldman, Verition, Nicholas Maounis, Josh Goldstein, Brian Townes, Townes, Elizabeth Xiang MD, Vir, Steve Satenstein, Chris Svoboda, Will England, Thomas DeAngelis, DeAngelis, Jonathan Brenner, hasn't, Maureen Reed, John Sullivan, Brenner, Walleye's Organizations: Service, Management, Wall, Business, Balyasny, Balyasny Asset Management, Quadra Advisors, SAC, Macquarie, BD, UBS, Grad, Financial Times, Michael, Lascaux, Howard BD, Brevan, Argentum Advisors, BH Digital, McKinsey & Company, JPMorgan, Ken Griffin's Citadel, Citadel, Citadel's, decamping, Chicago, Citadel BD, Walleye Capital, of Surveyor, Millennium, Capital, Credit, Ashler, Rice, Deutsche Bank, LMR Partners, London, Dore Partnership, Soros, Soros Fund, Ronda Churchill, Bloomberg, Getty, Guggenheim, Industry, MLP, Americas Guggenheim, Americas Citadel, SAC Capital, SEC, Point72 Academy, Citigroup, BD Energi, Japan, EMEA, APAC BNP, Schonfeld, PAAMCO, KKR, DMC Partners, Topwater, LinkedIn, New, New Holland Capital, BD —, Walleye, Lehman Brothers, Hutchin, Putnam Investments, ~$ Locations: America, Asia, Balyasny, Blackstone, New Holland, Abu Dhabi, BlueCrest, Europe, Graticule, ExodusPoint, Hornick, Freestone, New York, Schonfeld, Brevan, he's, Aberdeen, Hong Kong, Zurich, Glasgow, Dubai, Americas, Point72, quant, Verition, London, Greenland, Minnesota, Citadel

☆ 'Buffett really was not a great stock picker': Financial researcher Larry Swedroe on how investors can emulate the billionaire investor
▼ + stars: | 2024-04-13 | by ( Meredith Mutter | ) www.cnbc.com time to read: +3 min

Larry Swedroe, who is considered one of the market's most esteemed researchers, thinks Warren Buffett's investment style doesn't work well anymore. "Warren Buffett was generally considered the greatest stock picker of all time. And, what we have learned in the academic research is Warren Buffett really was not a great stock picker at all," Swedroe told CNBC's "ETF Edge" this week. "What Warren Buffett's 'secret sauce' was, he figured out 50, 60 years before all the academics what these factors were that allowed you to earn excess returns." In his latest book, Swedroe likens the stock market to sports betting and active managers to bookies.

Persons: Larry Swedroe, Warren, Warren Buffett, Swedroe, CNBC's, Warren Buffett's, Cliff Asness, Buffett, Buffett's, who's Organizations: Wall Street, Alpha, CNBC, Buckingham Wealth Partners Locations: AQR, Bridgeway, BlackRock

☆ 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

☆ February was a banner month for some of the industry's biggest trend-following funds
▼ + stars: | 2024-03-14 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +1 min

These trend-following funds use futures contracts to track market momentum. The strategy type on average lost money in 2023, according to BarclayHedge. The trend-following strategy subset, which uses futures contracts to ride market momentum, lost money on average in 2023, according to BarclayHedge, but had a big month in February. The average CTA made 1.9% last month, the industry data provider notes, but several big-name managers blew that figure out of the water. AQR, run by billionaire Cliff Asness, made 7.9% in its $1.5 billion Managed Futures strategy, according to the firm's website.

Persons: Cliff Asness Organizations: CTA, Man, Business Locations: AQR, Connecticut

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

☆ How 9 hedge funds including Millennium and AQR are thinking about AI — and the 11 experts leading the charge
▼ + stars: | 2023-12-04 | by ( Bianca Chan | ) www.businessinsider.com time to read: +2 min

And while Wall Street is no stranger to AI and machine learning, recent advances in generative AI have opened up new possibilities. It's still early days, but hedge funds are investing in AI research, human capital, and technology to harness AI's potential and find an investing edge. Millennium Management and ExodusPoint recently hired AI leaders from Bloomberg and Balyasny Asset Management. The executives have worked on Wall Street, in Silicon Valley, and the upper echelons of academia. Here are 11 AI experts to know at some of Wall Street's biggest hedge funds

Persons: It's, ExodusPoint, aren't Organizations: Business, Millennium Management, Bloomberg, Balyasny, Management, Man Locations: Silicon Valley, Wall

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

☆ Hip-hop stars and financial luminaries: Ritholtz Wealth Management redesigns the investment conference
▼ + stars: | 2023-09-11 | by ( Bob Pisani | ) www.cnbc.com time to read: +6 min

Surf City USA —for a financial conference. A financial conference on a beach? Reinventing the financial conferenceWelcome to FutureProof, billed as "the largest gathering of top-tier wealth management professionals, CEOs, CTOs, COOs, and fast-growing financial advisors." It's the brainchild of Barry Ritholtz, co-founder, chairman, and chief investment officer of Ritholtz Wealth Management, and CEO Josh Brown. "Coming out of the pandemic, it was obvious to us that the traditional financial conference was past its sell-by date," Ritholtz told me.

Persons: Tang, Redman, They're, Jeremy Siegel, Jeff Kleintop, Charles Schwab, Emily Roland, John Hancock, Cliff Asness, Jeff Gundlach, maven Jan van Eck, Barry Ritholtz, Josh Brown, Ritholtz, FutureProof, You'll, Goldman, Goldman Sachs, Morgan Stanley, JP Morgan, RIAs, Dan Ives, Scott Wapner, Siegel, Morningstar, Christine Benz, Jeffrey Ptak, Ben Johnson, podcasters Michael Batnick, Ben Carlson, Wu, Tang Clan Organizations: Wharton, Ritholtz Wealth Management, Chiropractic, Health, Investment Advisors, CNBC, Financial Locations: Huntington Beach , CA, Huntington Beach , California, Surf, Huntington Beach, AQR, DoubleLine, FutureProof, COOs, Wells, Wedbush, Young

☆ Where is the best place in New York City for a finance office?
▼ + stars: | 2023-06-12 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

So if you have to come in, where's the best place to go? Note: Most of the companies listed below have multiple office locations beyond the one listed. An open letter to big banks going through an identity crisis. My open letter to big banks. Here's a list of nearly a dozen of the best chocolates you can buy, according to a professional chocolatier.

Persons: Dan DeFrancesco, we've, Spencer Platt, It's, Goldman Sachs, BNY Mellon, We'll, Morgan Stanley, Jefferies, You've, I'm, Gene Wilder, Willy Wonka, Stephanie Cohen, Banks, We've, Brace, it's, Jeffrey Cane, Hallam Bullock Organizations: Getty, Apple, Downtown . Companies, NYSE, BNY, Metro North, . Companies, Bank of America, Barclays, BNP, Midwest, Midtown East . Companies, Blackstone, Millennium, Grand Central, Yards, Hudson Yards, Plaid, Rho Technologies, Connecticut . Companies, Paramount, Maverick Capital, Tiger Global, D1, JPMorgan, LinkedIn Locations: Downtown, JPMorgan, MarketAxess, BlackRock, midtown, — Flatiron, NoHo, Connecticut, Bridgewater, AQR, London, Citadel, New York

☆ From Wall Street to Washington: Which finance execs would make the best public servants?
▼ + stars: | 2023-06-01 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

There has long been speculation that America's most-famous banker has plans to run for some sort of public office. The path from Wall Street to Washington is well worn, with plenty of high-profile executives taking up positions in the government. When most Wall Street executives were still afraid of the public cloud, she was ready to embrace it with open arms. Jon Gray — Treasury SecretaryBlackstone's president and chief operating officer has already had a brush with public office. The idea of him holding public office doesn't seem far-fetched.

Persons: Dan DeFrancesco, TikTok, I'm, we've, nabbing, Joe Biden's, Kevin McCarthy's, Jamie Dimon, Larry Downing, hasn't shied, Dimon, Dimon's, Bill Ackman, Kenneth Chenault —, Kathy Hochul, she's, Chenault, He's, Larry Fink —, We've, Larry, Fink, Adena Friedman, Friedman, Jon Gray —, Gray, Donald Trump, Gray's, Wall, Sen, Elizabeth Warren, Ken Griffin, Griffin, hasn't, Griffin hasn't, Ron DeSantis, he'll, Brian Moynihan —, Moynihan, Dan Schulman —, PayPal — he's, Taylor Swift, Kevin Mazur, Larry Fink, Franklin Templeton, It's, Rockefeller, Stephen Schwarzman, Warren Buffett, Cliff Asness, that's, Here's, Jeffrey Cane, Nathan Rennolds Organizations: JPMorgan, REUTERS, Bloomberg, American Express, Catalyst, Washington Post, BlackRock, SEC, CFTC, OCC, Nasdaq, Wall, Democrat, GOP, Florida Gov, Commerce, PayPal, Express, Virgin Mobile, Rockefeller Capital Management, Putnam Investments, Blackstone, Credit Suisse, UBS, Reuters, LinkedIn Locations: NYC, Washington, New York, Florida, Chicago, Miami, Ohio, Swiss, London

☆ 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

☆ Environmental platform urges more than 1,600 high-emitting firms to disclose data
▼ + stars: | 2023-05-30 | by ( ) www.reuters.com time to read: +2 min

The companies targeted in the 2023 campaign include repeat non-disclosers such as Exxon Mobil(XOM.N), Glencore (GLEN.L) and Caterpillar (CAT.N), CDP said in a statement. Since it launched in 2017, CDP has expanded the universe of companies it targets for data disclosure. That has meant the number of non-disclosing companies targeted this year is higher than in its 2022 campaign. Despite the progress, disclosure remains a problem in high-emitting sectors and getting laggards to submit data will prove tricky, she acknowledged. Overall, about 50% of companies across sectors disclose environmental data, Elsdon told Reuters.

Persons: Glencore, Claire Elsdon, Elsdon, laggards, Tommy Reggiori Wilkes, Sharon Singleton Organizations: Exxon Mobil, Caterpillar, European Union, Reuters, Sumitomo Life Insurance, General Investment Management, Thomson Locations: United Kingdom, Canada

☆ Wall Street wants to lend to Hollywood, and that could be bad news for the rest of us
▼ + stars: | 2023-03-30 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

Today, we've got stories on an upheaval within BlackRock's communications department, a debate over the merits of the man bun on Wall Street, and why I'm not intimidated by Gen Z anymore. Insider's Rebecca Ungarino and Reed Alexander have a story on private lenders looking to make investments in media and entertainment. Hollywood has long represented an interesting investment opportunity for Wall Street, but lending to the industry is an interesting twist. As Reed pointed out in a follow-up story, Wall Street is keen to apply artificial-intelligence tools to identify projects worth greenlighting. And here's more on why Wall Street is so high on the entertainment industry leveraging AI.

☆ 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.

☆ Analysis: Investors seek uncorrelated assets on worries volatility will return
▼ + stars: | 2023-02-10 | by ( Laura Matthews | ) www.reuters.com time to read: +5 min

Yet some market participants are convinced the Federal Reserve’s fight against inflation will keep markets volatile and are allocating funds to so-called alternative investments. Those types of returns are not typical, however, and the performance of CTAs has been more muted in less volatile markets. Private markets raised $216.9 billion in 2022, putting assets at $1.4 trillion as at June 2022, from $311 billion in 2010, according to data provider Preqin. A 2023 study from State Street found that 68% of investors plan to increase their allocation to private markets in the next two to three years. "In that environment, stocks and bonds are likely to be more correlated."

☆ In a tough year for hedge funds, the top firms still crushed it
▼ + stars: | 2023-01-09 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

But first, we've got hedge fund returns. It's returns season for hedge funds, and boy is this year a doozy. Insider's Alex Morrell has a breakdown of how some of the flagship strategies at top hedge funds like AQR, Citadel, D.E. Alex's story gets into the nitty gritty — and more importantly, the specific numbers — but the big takeaway is this: While 2022 was a pretty awful year for the hedge fund industry, some of the industry's top funds absolutely crushed it. And while it might seem impossible to figure out a way to make money in that type of environment, that's exactly when I'd expect a hedge fund to step up.

☆ Hedge fund returns are rolling in. Here's how industry powerhouses like Citadel, Millennium, and Point72 performed in 2022.
▼ + stars: | 2023-01-06 | by ( Alex Morrell | ) www.businessinsider.com time to read: +2 min

Hedge funds had a dismal year in 2022, but some firms still produced exceptional returns. Ken Griffin's Citadel had record revenues of $28 billion, as well as a 38.1% return from its main fund. Cliff Asness' AQR had a 43.5% return in its oldest fund and record results in 12 other funds, too. 2022 was a dismal year for the hedge fund industry. A few industry stalwarts — AQR, Citadel, and Rokos Capital— had record years.

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