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An Israeli airstrike on a residential building in central Beirut killed at least 11 people on Saturday, the Lebanese Health Ministry said, part of an intensifying Israeli military campaign that appears aimed at pressuring Hezbollah into a cease-fire deal. The strike was an attempt to assassinate a top Hezbollah military commander, Mohammad Haidar, according to three Israeli defense officials who requested anonymity to discuss sensitive military operations. Hezbollah officials on Saturday afternoon said that none of the group’s leaders were at the site of the airstrike, and later in the day, one of the Israeli officials said Mr. Haidar was not killed. The strike came just after 4 a.m., jolting Beirut residents awake with thundering explosions that left much of the city enveloped in acrid smoke. It was the third strike this week in central Beirut, an area that had largely been spared since the war between Hezbollah and Israel escalated.

Persons: Mohammad Haidar, Mr, Haidar, Firass Abiad Organizations: Lebanese Health Ministry, Health Ministry Locations: Beirut, Lebanon, Israel, Basta

☆ Shiite Muslims mark holy day of Ashura with mourning and self-flagellation
▼ + stars: | 2024-07-18 | by ( Kathleen Magramo | ) edition.cnn.com time to read: +2 min

CNN —Shiite Muslims across the globe on Tuesday observed Ashura, an annual commemoration mourning the seventh-century martyrdom of a grandson of the Prophet Mohammed. Ashura, or “the 10th day,” falls on the 10th day of Muharram, the first month in the Islamic calendar. Shiite Muslim devotees self-flagellate during Ashura rituals in New Delhi, India. Haidar Mohammed Ali/Anadolu/Getty ImagesA Shiite Muslim self-flagellates with curved knives on chains during an Ashura procession in Bengaluru, India. Bikas Das/APA "zuljanah," an ornately decorated horse representing Hussein's battle stallion, parades through the streets of Srinagar, Indian-controlled Kashmir.

Persons: Prophet Mohammed, Imam Hussein bin Ali’s, –, ”, Kabir Jhangiani, Saurabh, Imam Hussein, Haidar Mohammed Ali, Idrees Mohammed, Bikas Das, Yawar Nazir, Ameer Al, Ahmad Al, Nasir Kachroo Organizations: CNN, Anadolu, Getty Locations: Karbala, Iran, Iraq, Azerbaijan, Pakistan, India, New Delhi, Ahmedabad, Nasiriyah, Bengaluru, AFP, Kolkata, Srinagar, Indian, Kashmir, Sadr City, Baghdad, Sopore

☆ Inside Schonfeld's macro shake-up: Research turnover, PM changes, and a shift away from big bets
▼ + stars: | 2024-06-17 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. A move away from big-time directional strategies is not a surprise. Plenty of funds that made their name on bold macro predictions have been humbled in the last 18 months. At Schonfeld, macro is still somewhat new for the firm. Several people familiar with the firm told Business Insider that he lost money while at the manager.

Persons: —, Colin Lancaster, Brent Cook, Eisler, Igor Ninkovic, Jaime Valle, Jerome Saragoussi, Ben Melkman, Brevan Howard, Jordan Barnes, Rahul Mehra, Karthikeyan, Yasmin Sahin, Said Haidar's, Sharpe, Lancaster, Melkman, Marc Tishfield Organizations: Service, Business, United Arab Emirates, Schonfeld, Bridgewater, Barclays, Citi, Matador Investment Management, Millennium Locations: York, Europe, Dubai, London, Bridgewater, Melkman, Schonfeld, New York

☆ Why is India's Modi so worried about Sikh separatist calls for Khalistan?
▼ + stars: | 2023-10-06 | by ( Rhea Mogul | ) edition.cnn.com time to read: +11 min

Amplified calls for the creation of Khalistan date back to when India gained its independence in 1947. At the same time, some Sikh supporters of Khalistan have made comments perceived as anti-national and threatening toward India and its government. And in counterinsurgency operations, Indian security forces were accused of a multitude of human rights abuses. The first photos of the damaged Akal Takhat after the army stormed the sikh Golden Temple complex in Amritsar on June 9, 1984. “The larger [Sikh] community is standing by the statements from Trudeau and they want action upon this,” said Jasveer Singh, a British Sikh and senior press officer with the Sikh Press Association.

Persons: Justin Trudeau’s, Hardeep Singh Nijjar, “, Nijjar’s, –, Andre Durand, Guru Nanak, hasn’t, ”, Amandeep Sandhu, Amritpal Singh, India’s, Singh, Stringer, Modi, Suhasini Haidar, Sondeep Shankar, Indira Gandhi, Gandhi, Harsh Pant, Cole Burston, Pant, Nijjar, Justin Trudeau, Blair Gable, Trudeau, Jasveer Singh Organizations: CNN, Air India, Sikh, Canadian, Air, Air India Boeing, Getty, India, British, Keystone, Pew Research Center, Panjab, Bharatiya Janata Party, BJP, Police, Khalistan, Observer Research Foundation, Protesters, Reuters, Sikh Press Association Locations: Montreal, New Delhi, Ireland, Indian, Punjab, Canada, Hardeep, India, Air India, Cork, AFP, Pakistan, Amritsar, British India, Ottawa, “ India, United States, United Kingdom, Australia, Toronto, British

☆ The billionaires' beef at Two Sigma seems pretty petty
▼ + stars: | 2023-06-29 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

ICYMI: This is the last week of 10 Things on Wall Street. Insider's Rebecca Ungarino has more details on how long the beef between Overdeck and Siegel has been brewing behind the scenes. What stands out to me about the drama at Two Sigma is how it all seems to be so petty. The Two Sigma cofounder was included only as an example of the type of managers Haider had eclipsed. The asset manager tapped two internal executives to serve as co-CEOs of the firm, succeeding CEO Jay Wintrob, The Wall Street Journal reports.

Persons: Dan DeFrancesco, I'm, Billy Joel's, —, we've, Goldman, Cofounders David Siegel, John Overdeck, David Siegel, cofounders, Insider's Rebecca Ungarino, Siegel, Rebecca, Haidar Capital's Said Haidar, Haider, Penny, Warren Buffett, Charlie Munger, Scott Olson, Ruobing Su, Michael Broadbery, Goldman Sachs, Maza, Andreessen Horowitz, Seth Klarman, Jay Wintrob, Robert O'Leary, Armen Panossian, Everybody's, they're, Joey Hadden, Jeffrey Cane, Hallam Bullock Organizations: Sigma, Baupost, Oaktree Capital, Street, Wall, LinkedIn Locations: Omaha, New York, London

☆ Macro Hedge Funds Hit by Financial Turmoil
▼ + stars: | 2023-03-23 | by ( Juliet Chung | Sam Goldfarb | ) www.wsj.com time to read: 1 min

The yield on the two-year U.S. Treasury note suffered its largest weekly decline since 1987 last week. Hedge funds that bet on big-picture market moves have been hit with steep losses as a spate of recent bank failures upends bets that interest rates would remain elevated. The souring of the wager led some, including Maniyar Capital Advisors and Haidar Capital Management, to lose more than 20% this month. Many of the funds, which had notched big gains as rates marched steadily upward in 2022, are now flat to down for the year following a steep recent drop in Treasury yields. So-called trend-followers, which try to take advantage of momentum in markets, also were hurt.

☆ PayPal's CEO search amid an uncertain economy will be no easy task
▼ + stars: | 2023-02-21 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

In case you missed it, PayPal CEO and President Dan Schulman announced his plan to retire at the end of 2023 earlier this month. Coming off an extremely difficult 2022, and with competition seemingly coming at them from every which way, PayPal has to find a new CEO. I hesitate to compare this to the seemingly never-ending CEO search at Carlyle, but it's easy to see how a difficult quarter or two could complicate this entire search. The rich stay rich thanks to another loophole that helps them save on taxes. Elliott Management's Paul Singer and Two Sigma's David Siegel both played second fiddle to Haidar Capital's Said Haidar in 2022 when it came to comp.

☆ A little-known hedge-fund manager's huge bet on inflation earned him $859 million and propelled him into the top 10 list
▼ + stars: | 2023-02-17 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

The manager of a little-known hedge fund was the 6th highest paid manager last year, per Bloomberg. Said Haidar made a huge leveraged bet on interest rates rising last year, and took home $859 million. The jump in prices last year means the hedge fund, which had positioned itself to profit from the rises, was able to benefit reap huge returns from its bet. His $859 million total was split between a $645 million gain on personal investment and a $314 million share of fund performance fees. Meanwhile, Elliott Management's Peter Singer brought home $317 million, with his hedge fund managing $56 billion in assets.

☆ Taliban officials praise Afghanistan's first sports car. It has an engine from a 2000 Toyota Corolla.
▼ + stars: | 2023-01-16 | by ( Lloyd Lee | ) www.businessinsider.com time to read: +3 min

The car's power relies on a modded 2000 Toyota Corolla engine, according to a Tolo News report. The Taliban's spokesperson shared a video of the car, called Mada 9, doing donuts in the snow. There are no videos of the car moving at high speeds or making difficult maneuvers outside of the video shared by the Taliban's spokesperson. Mohammad Riza Ahmadi, the designer of Mada 9, told Tolo News that he hopes the car will be a beacon for the embattled country. Ahmadi, the car designer, told Tolo News that the car has received offers but is not for sale.

☆ Macro hedge funds end 2022 on high, many others lose big, investors say
▼ + stars: | 2023-01-10 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +2 min

Rokos Capital, run by Chris Rokos and one of a handful of so-called global macro firms, gained 51% last year. Many macro managers sidestepped tumbling equity markets rocked by fast-paced interest rate hikes and geopolitical turmoil including the war in Ukraine to rank among the hedge fund industry's best performers, data from Hedge Fund Research show. The firm's macro index gained 14.2% while the overall hedge fund index dropped 4.25%, its first loss since 2018. Equity hedge funds, where the bulk of the industry's roughly $3.7 trillion in assets are invested, however fared worse with a 10.4% loss, according to HFR data. Tiger Global Management lost 56% while Whale Rock Capital Management ended the year with a 43% loss and Maverick Capital lost 23%.

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