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☆ '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

☆ 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

☆ 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

☆ 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

☆ Edgar Bronfman, Jr., slams UPenn leaders for ‘morally bankrupt’ response to Hamas terror attack on Israel
▼ + stars: | 2023-11-13 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

New York CNN —Private equity executive Edgar Bronfman, Jr., whose family includes well-known supporters of Israel, is calling for the leaders the University of Pennsylvania to step down due to their response to the Hamas terror attacks against Israel, CNN has learned. College campuses have experienced a surge in tensions since the October 7 terror attack by Hamas and as the Israel-Hamas war continues. Last week, UPenn said it alerted the FBI to a series of threatening antisemitic emails sent to university staff. UPenn declined to comment on the Bronfman email. “This blurring of Hate speech as free speech is exactly what the University has enabled – even encouraged,” Bronfman wrote.

Persons: Edgar Bronfman , Jr, Bronfman, Liz Magill, Scott Bok “, “, ”, ” Bronfman, Magill, Marc Rowan, Dick Wolf, Jon Huntsman, Cliff Asness, Bok, UPenn, ” Magill, –, Edgar Bronfman Sr Organizations: New, New York CNN, University of Pennsylvania, CNN, Ivy League, “, Penn, Wharton , New York University, Bard, Harvard, Georgetown . College, FBI, University of Virginia, Waverly Capital, University, Warner Music Group, Seagram, Lauder Institute, Wharton, World Jewish Congress Locations: New York, Israel, Wharton ,, Palestine

☆ UPenn president Liz Magill launches plan to fight antisemitism after facing donor backlash
▼ + stars: | 2023-11-01 | by ( Matt Egan | ) edition.cnn.com time to read: +5 min

New York CNN —University of Pennsylvania President Liz Magill, facing a backlash from donors calling for her to resign, launched a new effort on Wednesday to fight antisemitism at the Ivy League school. “This is an incredibly challenging moment in the world, and we are feeling its reverberations on our campus,” Magill wrote in a letter to the Penn community on Wednesday. “The engagement of Jewish faculty, students, staff and alumni has been an important part of the success of Penn as a leading University,” Magill said. Magill condemned antisemitism broadly before that festival and noted that some speakers had a history of making antisemitic remarks. Organizers of the three-day-long Palestine Writes festival denied that it embraced antisemitism, according to UPenn student newspaper The Daily Pennsylvanian.

Persons: Liz Magill, Magill, ” Magill, “, Mark Wolff, UPenn, University of Pennsylvania Liz Magill Shutterstock “, I’ve, Marc Rowan, Rowan, Dick Wolf, Jon Huntsman, Cliff Asness, Penn, ” Rowan, Ronald Lauder, ” Wolf, ”, Vahan Gureghian, Gureghian, Scott Bok, ” Gureghian Organizations: New, New York CNN — University of Pennsylvania, Ivy League, Penn, University of Pennsylvania, Private, “, University, Apollo Global Management, CNN, Israel, Wolf Humanities Center, Daily, Magill Locations: New York, ”, Penn, Palestine, Israel

☆ Billionaire politicians have become 'shockingly common' around the world, new study finds
▼ + stars: | 2023-10-26 | by ( Robert Frank | ) www.cnbc.com time to read: +2 min

More than 11% of the world's more than 2,000 billionaires have run for election or become politicians, according to a study highlighting the growing power and influence of the super-wealthy. "Billionaire politicians are a shockingly common phenomenon," the study said. Outside the U.S., billionaire politicians are even more common. Terry Gou, the Taiwanese billionaire and founder of Foxconn, is running for president of Taiwan. Of course, billionaires wield even more political power through their (often secret) donations to support candidates, parties and super PACs.

Persons: Donald Trump, Terry Gou, Vivek Ramaswamy, Doug Burgum, Michael Bloomberg, Tom Steyer, Billionaire Rick Caruso, J.B, Pritzker, Andrej Babiš, Silvio Berlusconi, Bidzina Ivanishvili, Najib Mikati, Sebastián, Thaksin, Phil Ruffin, Larry Ellison, Nelson Peltz, Richard Uihlein, Jeffrey Yass, Stanley Druckenmiller, Cliff Asness, David Tepper, Bruce Kovner Organizations: Wisconsin Valley Science, Technology, Northwestern University, Democratic, Los Angeles, Tax Fairness, Billionaire Locations: Wisconsin, Mount Pleasant , Wisconsin, U.S, Illinois, Taiwan, Czech Republic, Italy, Georgia, Lebanon, Chile, Thailand

☆ Columbia University postpones major fundraiser amid tensions over Israel-Hamas war
▼ + stars: | 2023-10-25 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

New York CNN —Columbia University has postponed its massive Giving Day fundraising event scheduled for Wednesday amid simmering tensions on campus over the Israel-Hamas war. At Columbia, school officials took the rare step earlier this month of shutting the campus down to the public as two simultaneous rallies were held on school grounds. That decision came after the assault of a Columbia student who was hanging up posters on campus in support of Israel. In a statement on Tuesday, the alumni club of Israel said it is now “formally disengaged” from UPenn. We are reviewing this incident and will take any appropriate steps with respect to the individuals involved in accordance with university policies,” the university said.

Persons: “, Samantha Slater, ”, Minouche Shafik, Shai Davidai, Shafik, it’s, ” Davidai, “ Ben Franklin, Doc Hoch, Dalia Hope Levine, Liz Magill, Dick Wolf, Jon Huntsman, Cliff Asness, Marc Rowan, Rowan, Emil Woods, Magill, “ Penn, Penn, ” Woods, Rowan . Woods Organizations: New, New York CNN — Columbia University, Columbia, University, Columbia Business School, University of Pennsylvania, Penn Alumni Club of Israel, Ivy League, Palestine, CNN, “, George Washington University Locations: New York, Israel, Columbia, Gaza, America, UPenn, New Jerusalem, Jerusalem, Palestine, Washington , DC

☆ UPenn donors were furious about the Palestine Writes Literature Festival. What about it made them pull their funds?
▼ + stars: | 2023-10-25 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +20 min

Gottheimer criticized UPenn for including Waters and Hill as festival speakers in a letter posted the day after the University released its statement. “Situating those individual Palestinians and our allies in league with actual antisemites is wholly irresponsible and dangerous.”At the festival, speakers acknowledged the allegations of antisemitism and denied them. It said they were notified 48 hours before the event Waters wished to show up in person, but that would have required additional security unavailable at short notice. ‘Felt like home’Planning the Palestine Writes Literature Festival took endless hours, according to Abulhawa. Susan Abulhawa, a Palestinian-American writer and human rights activist, speaks at a 2014 Palestine Festival of Literature event at Qasr al Qassem on June 4, 2014 in Beit Wazan, near Nablus, West Bank.

Persons: Liz Magill, Magill, Penn, Roger Waters, Pink Floyd, Rogers, “, Anne Frank, ”, Waters, Andreas Arnold, demagogue, ” Waters, Tala, Fahmawi, Josh Gottheimer, Marc Lamont Hill, Gottheimer, UPenn, ” Hill, Hill, Susan Abulhawa, Amer Zahr, Abulhawa, Ronald Lauder, Marc Rowan, Rowan, Scott Bok, ” Abulhawa, Dalia Al, Ahmad, Palestine — Ibrahim Nasrallah, Elias Khoury, Mahmoud Shukair, Habayeb, Salman Abu Sitta, Mahmoud Darwish, it’s, ” Dalia Al, Viet Thanh Nguyen, Pulitzer, Gary Younge, Nguyen, Younge, Israel, Bernard Schwartz, 92NY, ” Nguyen, ‘, Rob Stothard, ” UPenn, David Magerman, Cliff Asness, Lauder, Dick Wolf, Jon Huntsman, Elizabeth Magill, John Jackson , Jr, ” Rowan, Ed Rendell Organizations: New, New York CNN, The University, Ivy League, CNN, Defamation League, ADL Philadelphia, Jewish Federation of Greater, Pink, US State Department, ADL, Democratic New Jersey Rep, University, Apollo Global Management, ” CNN, The Daily, UN, Assembly, Jewish Chronicle, New York, New York City Jewish, New York Times, Palestine, Palestinian, Facebook, West Bank, Student, Daily Pennsylvanian, Penn, Twitter, Venture, Law, Renaissance Technologies, University of Pennsylvania, CNBC Locations: New York, UPenn, Philadelphia, Israel, Jewish Federation of Greater Philadelphia, Magill, Germany, Nazi, Frankfurt, “ Palestine, Palestine, The, Europe, Canada, British, New, New York City, Palestinian, American, Qasr, Qassem, Beit Wazan, Nablus, West

☆ Donor revolt at Harvard and UPenn over Israel shows big checks often have strings attached
▼ + stars: | 2023-10-24 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +8 min

New York CNN —Big money donations are booming at America’s colleges, helping fund higher education for millions of students. The biggest donors often sit on universities’ board of trustees, which governs the university and selects university leadership, priorities and direction. The donor backlash at the University of Pennsylvania and uproar at Harvard University over Israel and Palestine highlight how big donations often come with demands for changes to university policy and politics. The backlash has raised questions about the influence big donors wield and pressure donors may exert over leadership, hiring decisions and academic affairs. Restricted giftsMore donations are coming with strings attached, rather than letting schools spend their donations however they want.

Persons: ’, ”, Cliff Asness, James Finkelstein, David Callahan, George Mason, Nikole Hannah, Jones, Rob Reich, “, Ann Marcus Organizations: New, New York CNN, University of Pennsylvania, Harvard University, Harvard, George Mason University, Faculty Senate Tri, Council, Advancement, “, ”, Aid, Education, Critics, Indiana University, George, Koch Foundation, Yale University, University of North, Chapel, Michigan State, Stanford University, Universities, New York University, NYU’s Steinhardt, of Higher Locations: New York, Israel, Palestine, University of North Carolina, Saudi Arabia, Qatar, Kuwait

☆ Ed Rendell: UPenn president Liz Magill made a 'mistake' but shouldn't be forced out
▼ + stars: | 2023-10-23 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

“I don’t think she is going to step down.”Magill did condemn antisemitism broadly before the Palestine Writes festival and noted that some speakers had a history of making antisemitic remarks. Indeed, some members of the UPenn faculty and even the UPenn Jewish community criticized Magill prior to the Sept. 22 Palestine Writes festival for being too critical of the event. Still, Magill’s handling of the Palestine Writes festival triggered a backlash from powerful donors in a campaign led by private-equity billionaire Marc Rowan. Organizers of the Palestine Writes festival denied that it embraced antisemitism, according to UPenn student newspaper The Daily Pennsylvanian. Given the controversy over the Palestine Writes festival, Rendell is calling for the creation of an independent commission that would approve whether outside groups can access the UPenn campus.

Persons: Ed Rendell doesn’t, Rendell, Liz Magill, ”, Magill, ” Rendell, “, ” Magill, Marc Rowan, Dick Wolf, Jon Huntsman, David Magerman, Cliff Asness, ” Wolf, Ronald Lauder, Lauder, UPenn, Huntsman Organizations: New York CNN Business — Former, University of Pennsylvania, Ivy League, UPenn, CNN, Israel, “, Wolf Humanities Center, Daily, University Locations: Palestine, UPenn, Israel, Utah, Pennsylvania

☆ Law & Order creator Dick Wolf implores UPenn president to quit
▼ + stars: | 2023-10-20 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

New York CNN Business —Dick Wolf, the creator of “Law & Order,” wrote a letter to Liz Magill pleading with her to step down as president of the University of Pennsylvania. “President Magill, I implore you and [chair of the board of trustees] Scott Bok to step down from your UPenn positions before any more unnecessary damage to UPenn,” Wolf wrote in the letter, obtained by CNN on Friday. Organizers of the Palestine Writes festival denied that it embraced antisemitism, according to UPenn student newspaper The Daily Pennsylvanian. In the days before the Palestine Writes festival, Magill was not just facing pressure from Lauder, Wolf and others who wanted the event scrapped. Three dozen members of the UPenn faculty also wrote to The Daily Pennsylvanian in support of the Palestine Writes festival.

Persons: New York CNN Business — Dick Wolf, ”, Liz Magill, Wolf, UPenn’s, Magill, Scott Bok, ” Wolf, UPenn, Bok, Israel, Marc Rowan, Jon Huntsman, David Magerman, Cliff Asness, Ronald Lauder, Lauder, ” “, ” Magill, ” Bok Organizations: New York CNN Business, “, University of Pennsylvania, UPenn’s Wolf Humanities, Ivy League, CNN, Wolf Humanities Center, Daily, University, Penn, Greenhill & Co Locations: Palestine, UPenn, Israel, Irish

☆ UPenn President called to resign following protest of the school's response to Palestinian festival
▼ + stars: | 2023-10-18 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

Vahan Gureghian, former University of Pennsylvania trustee, is calling for Liz Magill, the Ivy League school's president, to step down amid deepening donor backlash. But apparently Liz is not ready for this job.”Debate over free speech, antisemitismMagill was not only facing pressure from Lauder and other opponents of the Palestine Writes festival. Three dozen members of the UPenn faculty also wrote a letter in student newspaper The Daily Pennsylvanian to support the Palestine Writes festival. Organizers of the Palestine Writes festival denied that it embraced antisemitism, according to The Daily Pennsylvanian. “The unanimous sense of those gathered was that President Magill and her existing University leadership team are the right group to take the University forward,” Bok said.

Persons: Vahan Gureghian, Liz Magill, Magill, Gureghian, “, ” Gureghian, Scott Bok, Marc Rowan, Jon Huntsman, David Magerman, Cliff Asness, “ You’re, Elizabeth Magill, Ronald Lauder’s, Lauder, ” Lauder, ”, “ Liz, Liz, UPenn, ” Magill, ” Bok Organizations: New York CNN Business — Former University of Pennsylvania, Ivy League school’s, CNN, Israel, University of Pennsylvania, Ivy League school's, CSMI Consulting, “, University, Pennsylvania, Penn, Daily, Greenhill & Co Locations: Penn, Palestine, Israel, Philadelphia, Lauder

☆ In hedge funds' backyard, private credit is the toast of the town
▼ + stars: | 2023-10-04 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +3 min

Instead, people like Ken Kencel — CEO of Churchill Asset Management, a private credit division of asset management giant Nuveen — held court. In the next decade, he predicted that private credit shops and direct lenders could fill in the holes in the asset-based lending space, as well as home and auto loans. Private credit — or alternative credit or direct lending — is a subsect of finance that has grown rapidly thanks to higher interest rates and distressed banks. Higher interest rates are forcing institutions — the pensions and endowments that make up hedge funds' biggest investors — to rethink their portfolios. But while the Bridgewater founder had the rapt attention of the room, it was at a direct lending panel a couple of hours later when an ambitious audience member pitched himself to the private credit executives onstage.

Persons: Ray Dalio, Cliff Asness, Ken Kencel, —, I've, Banks, Gregory Robbins, Jan Van Eck Organizations: Greenwich Economic, Churchill Asset Management, Golub Capital, Bridgewater Locations: Greenwich, China

☆ 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

☆ 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

☆ 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.

☆ 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.

☆ Investment management firm AQR books best year in several strategies
▼ + stars: | 2023-01-06 | by ( Nell Mackenzie | ) www.reuters.com time to read: +2 min

Jan 6 (Reuters) - Investment management firm AQR's Absolute Return Strategy in 2022 saw its best year since its inception since 1998, a source with knowledge of the matter said on Friday. Its Equity Market Neutral Global Value and its Global Macro strategies both posted record years at 44.7% and 42.0% net of fees. Its Alternative Trend Strategy also had its best year ever, with a 48.9% net of fees, the source added. AQR is an investment firm that has hedge fund strategies but also includes long-only and mutual funds. Trend strategies would continue to succeed for AQR during sustained downturns and persistent macro volatility, the source told Reuters.

☆ 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.

☆ Access to alternative investments have never been easier, but some VCs don't think that's a good thing
▼ + stars: | 2022-11-28 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Insider's Asia Martin spoke to some VCs who were skeptical about startups broadening access into these risky, illiquid assets. It's a common dilemma in fintech, as Asia pointed out to me, as access often takes precedence over education. Click here to read more about opening up access to alternatives and why some VCs are questioning it. From political donations to sports teams, this is everything the FTX founder spent money on. We asked top VCs to identify the best startups that help developers build apps for the cloud.

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