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☆ Premarket stocks: How China's economic turmoil could hurt your portfolio
▼ + stars: | 2023-08-17 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

Why it matters: “For most of the last two decades, China’s economic growth has been a major driver of the global economy,” said Alex Etra, a strategist at data analytics firm Exante. That means that if China’s economy slows down, global economic growth slows down. ExxonMobil (XOM) may not be doing too much business with China, said Etra, but if Chinese growth slows, that means oil prices go down. Earlier this year, Bank of America compiled a list of the S&P 500 companies with the highest exposure to China. The grand total of all the private wealth in the world fell 2.4% to $454.4 trillion last year, according to the annual Credit Suisse and UBS global wealth report.

Persons: Joe Biden, BlackRock, ”, Alex Etra, Michael Burry’s, Allison Morrow, That’s, Jason Hart, Winn, ” Hart, “, Ramishah Maruf Organizations: CNN Business, Bell, New York CNN, country’s National Bureau of Statistics, ExxonMobil, Apple, Intel, Starbucks, Nike, Bank of America, Las, Qualcomm, Nvidia, Wynn Resorts, WYNN, MGM Resorts, MGM, Funds, PitchBook, Michael Burry’s Scion Asset Management, Moore Capital Management, D1 Capital, Tiger Global, Securities, Exchange, Credit Suisse, UBS, Millionaires, Aldi, Dixie, Winn, CNN Locations: New York, Beijing, China, Ukraine, United States, Aldi, Winn

☆ Hedge funds bought these Chinese technology stocks in the second quarter
▼ + stars: | 2023-08-16 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Big investors took a selective approach to China-based technology stocks in the second quarter, recent regulatory filings suggest. Technology stocks continued their upward trend during the second quarter, including a slew of 2022's China-based tech losers. The fund scooped up a fresh position in e-commerce company JD.com worth nearly $64 million, and bought up China-focused exchange-traded funds KraneShares CSI China Internet (KWEB) and iShares China Large-Cap (FXI) . Other hedge funds raising bets on the company included Third Point's Dan Loeb, while Viking Global's Ole Andreas Halvorsen opened a minor stake worth $77.7 million. Not every investor bet big on the sector during the second quarter.

Persons: David Tepper's, Point's Dan Loeb, Ole Andreas Halvorsen, Baidu, Management's Philippe Laffont, Dan Sundheim, Tiger Global's Chase Coleman, — CNBC's Michael Bloom Organizations: Technology, Reuters, Retail, CSI China Internet, Viking, Li, PDD Holdings, Kanzhun Locations: China, Alibaba

☆ Hedge funds dump Chinese stocks aggressively as growth outlook dims
▼ + stars: | 2023-08-15 | by ( Carolina Mandl | ) www.reuters.com time to read: +2 min

REUTERS/Tingshu Wang/File Photo Acquire Licensing RightsNEW YORK, Aug 15 (Reuters) - Global hedge funds are "aggressively" selling Chinese stocks amid heightened concerns over the country's property sector and a weak batch of economic data, a Goldman Sachs report on Tuesday showed. "Hedge funds have net sold Chinese stocks in eight of the last ten sessions on the prime book through 8/14," it said, adding its clients divested both their long and short positions. Goldman Sachs, as one of the biggest providers of lending and trading services through its prime brokerage unit to investors, is able to track hedge funds' investment trends. On Tuesday, a broad array of Chinese economic data highlighted intensifying pressure on the economy from multiple fronts, prompting Beijing to cut key policy rates to shore up activity. Hedge funds are increasingly wary of their exposure to China.

Persons: Tingshu Wang, Goldman Sachs, Carolina Mandl, Sonali Paul Organizations: REUTERS, Global, International Trust Co, D1 Capital, Tiger, Carolina, Thomson Locations: Beijing, China, HK, U.S, New York

☆ Hedge funds beefed up A.I. bets in the second quarter
▼ + stars: | 2023-08-15 | by ( Samantha Subin | ) www.cnbc.com time to read: +5 min

2023 has been the year for artificial intelligence stocks, and hedge funds in the second quarter beefed up their bets on the growth sector despite its sharp run up this year. Doubling down on Big Tech Despite the uptick in tech shares by the end of the first half, many hedge funds amped up their bets on Alphabet during the second quarter. David Tepper's Appaloosa bet big on AI winners , growing positions in Alphabet, Amazon , Meta Platforms and Microsoft during the period. Betting on chip stocks Nvidia shares have popped 200% as the company triumphs as AI chipmaker to beat this year. Beyond these pure-play AI bets, Coleman added to semiconductor Lam Research .

Persons: Bill Ackman's, Dan Loeb's, David Tepper's, Baupost's Seth Klarman, Philippe Laffont's Coatue, Tiger Global's Chase Coleman, Mark Zuckerberg's, Dan Sundheim's, Ole Andreas Halvorsen, Loeb, Coleman, Sundheim, Baupost, Keith Meister's, Laffont, Yun Li, Sarah Min, Brian Evans Organizations: Big Tech, Microsoft, Tiger Cub, Management, Apple, Amazon, Facebook, Meta, Nvidia, Devices, Viking, Taiwan Semiconductor, Micron Technology, AMD, Intel, Qualcomm, Broadcom, Marvell Technology, Materials, Global, Lam Research, Netflix, Viking Global, NXP Semiconductors, Semiconductor Locations: Apple, Amazon

☆ US hedge funds stampede out of China in Q2
▼ + stars: | 2023-08-14 | by ( Carolina Mandl | ) www.reuters.com time to read: +2 min

The hedge fund slashed its position in Alibaba by roughly 90% from March to June, filings showed. D1 Capital Partners also dumped all its 1.7 million shares - or $176.8 million - in Alibaba, according to documents. Louis Bacon's Moore Capital Management sold over $200 million in shares of Alibaba, exiting its position in the company. Amid those uncertainties, China-focused mutual funds also suffered a net outflow of $674 million in the second quarter. At the end of July, hedge funds' exposure to China was well below five-year averages, Goldman Sachs showed.

Persons: Lucas Jackson, Philippe Laffont, Li Auto, Louis Bacon's, Michael Burry's, Joe Biden, Goldman Sachs, Carolina Mandl, Alison Williams, Cynthia Osterman Organizations: New York Stock Exchange, REUTERS, YORK, D1 Capital, Tiger Global, HK, Coatue Management, Tiger Management, Baidu, KE Holdings, PDD Holdings, D1 Capital Partners, Louis Bacon's Moore Capital Management, Alibaba, Michael Burry's Scion Asset Management, Thomson Locations: New York, U.S, JD.com, Kanzhun, Alibaba, China

☆ D1 Capital slashes big tech holdings and adds new bet on hotels, real estate
▼ + stars: | 2023-08-14 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Sundheim also added 59% to a position in Jack Dorsey's Block in the second quarter, now worth $101 million. D1 also exited its position in tech giants Amazon , Alibaba and Salesforce in the second quarter, the filing showed, and sold 21% of a stake in Google parent Alphabet. Meanwhile, D1 added new semiconductor holdings. Elsewhere, D1 added to positions in General Electric , Insulet and Elevance Health . The firm managed about $27 billion at the end of the second quarter, according to WhaleWisdom.com , including about $5 billion in 13F securities.

Persons: Dan Sundheim's, Sundheim, Jack Dorsey's Block Organizations: Capital Partners, U.S . Securities, Exchange Commission, Facebook, Microsoft, AMD, Nvidia, General Electric, Elevance Health, Nation Entertainment Locations: Hilton

July 12 (Reuters) - Investment firm Wellington Management is in talks to lead a new funding round for Skims, which could value the underwear clothing company owned by Kim Kardashian at about $4 billion valuation, according to people familiar with the matter. Skims and Wellington did not respond to comment requests. Women's Wear Daily reported on the Skims funding round earlier on Wednesday without naming Wellington. Other investors included D1 Capital Partners, as well as existing investors Thrive Capital, Imaginary Ventures and Alliance Consumer Growth. Kardashian is also actively raising funds for her new private equity firm SKKY Partners, which focuses on consumer and media investments.

Persons: Kim Kardashian, Skims, Kardashian, Carlyle, Jay Sammons, Abigail Summerville, Krystal Hu, Diane Craft Organizations: Investment, Wellington Management, Wellington, Lone Pine Capital, D1 Capital Partners, Imaginary Ventures, Alliance Consumer, SKKY Partners, Thomson Locations: Wellington, Boston, Lone, New York, Austin

☆ Michael Jordan is selling his majority stake in the Charlotte Hornets
▼ + stars: | 2023-06-16 | by ( Jessica Golden | ) www.cnbc.com time to read: +2 min

Charlotte Hornets owner Michael Jordan responds to a question during a news conference at Spectrum Center in Charlotte, North Carolina, Oct. 28, 2014. Basketball legend Michael Jordan has agreed to sell his majority stake in the National Basketball Association's Charlotte Hornets to wealthy investors Gabe Plotkin and Rick Schnall, a representative for Jordan confirmed Friday. Jordan took a majority stake in the Hornets in 2010 for $275 million. Under the ownership of the six-time NBA champion Jordan, the Hornets have struggled, only making the playoffs two times. Plotkin acquired a minority stake in the Hornets in 2019 and has served as an alternate governor on the NBA Board of Governors.

Persons: Charlotte, Michael Jordan, Basketball Association's Charlotte, Gabe Plotkin, Rick Schnall, Jordan, Plotkin, Schnall, Clayton, Dan Sundheim, J, Cole, Eric Church Organizations: Charlotte Hornets, Spectrum Center, Basketball Association's, Basketball Association's Charlotte Hornets, Hornets, NBA, of Governors, Tallwoods, NBA's Atlanta Hawks, Hawks, D1, North Carolina, Hornets Sports & Entertainment, G League, Greensboro Swarm, Spectrum, Forbes Locations: Charlotte , North Carolina, Dubilier

☆ 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

☆ An AI wave lifts Tiger Cub hedge funds like Tiger Global, Maverick Capital, and Coatue
▼ + stars: | 2023-06-09 | by ( Michelle Abrego | ) www.businessinsider.com time to read: +2 min

Tiger Global and Coatue have also returned double-digits this year thanks to the resurgence of tech stocks. The Tiger Cub's fund rose 5.60% in May and has gained 19.48% year to date, according to HSBC's Hedge Weekly performance report. This is a welcome turn of events for the Tiger Cubs, funds founded by portfolio managers who worked under the legendary Tiger Management head Julian Robertson. Tiger Global finished the year down 56%, and Coatue lost 18.8%. Fellow Tiger Cubs Lone Pine and grand cub D1 Capital also had double-digit losses, while Viking Global reported a single-digit loss.

Persons: Lee, Ainslie, Wall, Lee Ainslie's, Ainslee, Chase, Philippe Laffont's Coatue, Dan Sundheim, Andreas Halvorsen's Viking, Julian Robertson, Maverick, Coatue, Bloomberg's Katherine Burton, Hema Parmar Organizations: Nvidia, Tiger Global, Facebook, Bloomberg, D1, Andreas Halvorsen's Viking Global, Tiger Cubs, Tiger Management, Fellow Tiger Cubs, Viking Global, Fund Research

☆ Lee Ainslie's Maverick Capital is soaring this year after buying Nvidia. His Tiger Cub peers had a pretty good month too.
▼ + stars: | 2023-06-09 | by ( Michelle Abrego | ) www.businessinsider.com time to read: +2 min

☆ Hedge funds piled into these A.I. stocks during the first quarter
▼ + stars: | 2023-05-21 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Securities filings released this week signaled that many hedge funds also appear to be catching the AI bug. Betting on AI heavyweights Alphabet popped up as one of the most common AI plays among big investors in the first quarter. Microsoft bet billions on AI capabilities, funneling another multibillion-dollar investment in January into ChatGPT maker OpenAI. Beyond Alphabet and Microsoft Outside heavyweight giants Alphabet and Microsoft, many hedge funds beefed up other AI-related holdings in the first quarter. His Nvidia bet equaled roughly $1.4 billion at the end of March.

☆ Major investors loaded up on regional bank stocks during a turbulent first quarter
▼ + stars: | 2023-05-16 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Einhorn's Greenlight Capital took small stakes in New York Community Bancorp and First Citizens Bancshares in the first quarter, with each bet worth about $20 million, according to a regulatory filing. New York Community Bancorp's subsidiary, Flagstar, acquired Signature Bank assets after that bank was shuttered , while First Citizens bought a large portion of Silicon Valley Bank assets . New York Community shares are up nearly 20% this year, while First Citizens' stock has jumped more than 68% on the year. 'Big Short' Burry of "Big Short" fame snapped up a slew of regional banks last quarter, including New York Community Bancorp , Capital One Financial , Western Alliance , PacWest Bancorp and Huntington Bancshares during the first quarter. To make matters more confusing, the conglomerate dumped its remaining stakes in Bank of New York Mellon and U.S. Bancorp .

☆ Dan Sundheim's D1 buys this large regional bank stock, trims tech holdings in first quarter
▼ + stars: | 2023-05-15 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Dan Sundheim's D1 Capital Partners bet on PNC Financial Services as turmoil unraveled across banks in the first quarter. The hedge fund, founded in 2018, opened a $43-million stake in the Pittsburgh-based regional bank in the first quarter, which saw the collapse of Silicon Valley Bank and Signature Bank in March, according to securities filings. D1 also made new bets on the healthcare sector, opening new positions in UnitedHealth and Danaher , and a stake worth at least $314 million in Elevance Health . While technology stocks rebounded during the first quarter, and investors gravitated back toward beaten-up growth stocks as bonds yields offered some relief, D1 reduced its exposure to some popular names. D1 managed roughly $27.6 billion in assets at the end of March, according to securities filings.

☆ Arrowstreet, Coatue Management among big hedge funds buying Meta in first quarter
▼ + stars: | 2023-05-15 | by ( David Randall | ) www.reuters.com time to read: +1 min

NEW YORK, May 15 (Reuters) - Prominent hedge funds including Arrowstreet Capital LLC, D1 Capital Partners and Coatue Management LLC were among the investors that bought shares of Meta Platforms Inc in the first quarter of the year, amid an eye-popping rebound in the Facebook-parent’s stock. Arrowstreet Capital added about 5 million shares during the quarter, brining its total position to slightly more than 7 million shares, while Coatue more than doubled its position in the company by buying 4.2 million shares. Winslow Capital Management, meanwhile, initiated a new position in the firm by buying about 927,000 shares, and D1 Capital Partners bought slightly more than 1 million shares. Norges Bank, the central bank of Norway, was the largest seller among all firms, unloading more than 35 million shares during the quarter. Two Sigma Investments sold its entire stake of about 569,000 shares, while Glenview Capital Management, run by billionaire Larry Robbins, sold its entire stake of about 526,000 shares, according to filings.

☆ Bullet point previews of Premier League matches
▼ + stars: | 2023-04-20 | by ( ) www.reuters.com time to read: +3 min

* League leaders Arsenal drew their last two league games, while relegation-threatened Southampton lost their last two. * Leeds have conceded 16 goals in four league games in April, conceding at least four goals in three of those matches. Crystal Palace v Everton (1400)* Palace have won just one of their last 16 Premier League games against Everton (D7 L8). * West Ham have won their last two league games against Bournemouth and are looking to complete their first league double over them. Newcastle United v Tottenham Hotspur (1300)* Alexander Isak has scored five goals in his last six league games for Newcastle.

☆ Dan Sundheim’s D1 Capital places new bets on home furnishing retailers, adds to Big Tech
▼ + stars: | 2023-02-14 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

The New York-based hedge fund bought a $205 million initial position in Floor & Decor Holdings , and $104 million worth of shares in mattress maker Tempur Sealy in the fourth quarter. Sundheim placed new bets on fintech companies Bill.com Holdings and Intuit , buying about $91 million and $14 million worth of shares in each company, respectively. D1 also bought $81 million worth of Alibaba . D1 managed about $40 billion at the end of the fourth quarter, according to WhaleWisdom.com. Sundheim started D1 in 2018 after a stint as chief investment officer at Viking Global Investors.

☆ Czechs and Slovaks see storms disrupt traffic and cut power
▼ + stars: | 2023-02-04 | by ( ) www.reuters.com time to read: +1 min

Feb 4 (Reuters) - Gale-force winds and snow storms cut power supplies to thousands of Czech households on Saturday and closed the main east-west highway in Slovakia, officials and local media said. In Slovakia's Zilina region, authorities called on people to stay indoors and avoid non-essential travel, especially to the north of the country, as winds reached more than 120 km per hour in the Tatra mountains. A section of the D1 highway near the Tatra mountains was closed for several hours after around 30 cars were caught in an accident due to heavy snowfall, local media reported. In the Czech Republic, 15,000 households were still without electricity in the afternoon - down from around 90,000 in the morning - after strong winds brought down trees and disrupted the grid, while dozens of train services were canceled, CTK news agency reported. Reporting by Robert Muller; Editing by David HolmesOur Standards: The Thomson Reuters Trust Principles.

☆ This biotech founder has a new plan to treat Tourette Syndrome, which affects 200,000 Americans each year
▼ + stars: | 2023-01-03 | by ( Yeji Jesse Lee | ) www.businessinsider.com time to read: +5 min

Emalex Bioscience is developing a new treatment for Tourette Syndrome. Tourette Syndrome currently has no cure and few treatment options. That's how in 2018 he came to found Emalex Biosciences, a pharmaceutical startup, to test a new drug for Tourette Syndrome. Emalex's drug works in a different way than other Tourette treatmentsIn spite of a tough market for biotech startups, Emalex has managed to raise $250 million from investors in November to develop its Tourette Syndrome drug candidate, called ecopipam. Many of the current approved therapies for Tourette Syndrome target D1 dopamine receptors in the brain.

☆ 'One of our best years on record': With VC deals on the decline, venture-debt investors are cleaning up. But there's a dark side to startups borrowing cash.
▼ + stars: | 2022-12-27 | by ( Darius Rafieyan | ) www.businessinsider.com time to read: +7 min

As the Fed keeps raising interest rates to fight inflation, venture-debt defaults could soon go up. Venture debt, like a typical venture-capital investment, involves betting big on fledgling startups that may be far off from profitability. In the first six months of the year, venture debt increased 7.5%, even as VC funding fell 8% over the same period. The year for debtArmentum's Markell said venture debt had exploded in popularity this year as traditional VC deals dwindled and startup valuations plummeted. Factoring in expected Fed rate rises, Kroll thinks these interest rates will climb to as much as 12% next year.

☆ A sports tech startup lost millions — then made it big. Here's how its millennial founders staged a comeback
▼ + stars: | 2022-12-23 | by ( Goh Chiew Tong | ) www.cnbc.com time to read: +8 min

Losing millions of dollars when they were 24 years old was a defining moment for entrepreneurs Harsh Jain and Bhavit Sheth. More than a decade after its launch, their company Dream Sports says it's now valued at $8 billion dollars, with 160 million users to boot. Dream Sports is a sports tech firm from India that owns Dream11, the biggest fantasy gaming platform in the country. Harsh Jain and Bhavit Sheth launched their startup Dream11 when they were just 22 — but it quickly "crashed and burned." That is something they learned from losing a large sum of money in the early days of their company, Jain added.

☆ Under fire for weak regulation, dLocal CEO says seeking UK license
▼ + stars: | 2022-12-07 | by ( Isabel Woodford | ) www.reuters.com time to read: +3 min

Speaking in a closed-door call hosted by Goldman Sachs, dLocal CEO Sebastian Kanovich said that a full license with the UK regulator (FCA) was pending, citing the UK's exit from the European Union. "We have been advised not to engage in a tit for tat," he responded, adding dLocal was only engaging privately with stake holders. Neither dLocal nor Goldman Sachs responded to a request for comment. Muddy Waters told Reuters that Kanovich's explanations for the multi-million deficit in merchants' accounts "were so implausible, we literally laughed out loud." The company's CEO was also asked why dLocal had nearly $6 million in funds trapped in disgraced crypto exchange FTX, which dLocal failed to withdraw before the exchange's collapse.

☆ How a D1 football player built an audience of nearly 2 million TikTok followers, and how much he's earned from endorsements
▼ + stars: | 2022-11-26 | by ( Colin Salao | ) www.businessinsider.com time to read: +4 min

Jon Seaton is a junior defensive lineman for Elon University in the Division I Football Championship Subdivision. Since NIL rules were implemented, he's earned over $250,000 through deals with Meta and Dr. Pepper. "I actually had no clue at that point where I was going to feed myself from," Seaton said. Tim Curran told Insider he has avoided small deals for Seaton worth $25 to $50, which has pushed up the value of each sponsored post the athlete makes. Seaton believes that NIL could help student-athletes like him, who aren't pursuing careers as professional athletes, become business leaders.

☆ Cloud-Security Startup Lacework Taps New CFO as It Weighs IPO
▼ + stars: | 2022-11-17 | by ( Kristin Broughton | ) www.wsj.com time to read: +3 min

Cloud-security business Lacework Inc. on Thursday named a finance chief with public-company experience as the startup lays the groundwork for an eventual initial public offering. He has also held senior finance roles at technology companies ServiceNow Inc. and Hewlett Packard Enterprise Co. At Lacework, Mr. Casey succeeds Mike Staiger, who stepped down in June. Lacework has ample cash from last year’s fundraising round and likely won’t need more capital for at least a couple of years, Mr. Casey said. Additionally, Mr. Casey is helping Lacework adjust its pricing model, for instance by offering customers a wider range of functionalities and price points. Newsletter Sign-up WSJ | CFO Journal The Morning Ledger provides daily news and insights on corporate finance from the CFO Journal team.

☆ Chinese stocks roar in a comeback, but here’s why big investors remain cautious
▼ + stars: | 2022-11-17 | by ( Seema Mody | ) www.cnbc.com time to read: +4 min

A stunning reversal in Chinese stocks in November has investors once again reassessing whether now is the time to double down on this once-hot market. "Biden's comments that he did not see an imminent threat to Taiwan from China were also noteworthy...," said Chang to CNBC. Investors CNBC spoke to remain encouraged by the country's much-needed reopening but want more evidence to suggest Beijing is easing its zero-Covid policy. The latest third-quarter 13F filings ending Sept. 30 also show several reputable hedge funds reducing their exposure to Chinese tech stocks. These positions may have changed since the end of September, but the data does suggest buy-side investors remain cautious on owning Chinese tech.

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