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☆ Ken Griffin’s Wellington hedge fund at Citadel squeezes out 1% gain in volatile August
▼ + stars: | 2024-09-04 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Billionaire investor Ken Griffin's suite of hedge funds at Citadel eked out small gains in what proved a volatile month in August as markets grappled with an emerging growth scare. All five strategies used in the flagship fund — commodities, equities, fixed income, credit and quantitative — were positive for the month, the person said. Its equities fund, which uses a long/short strategy, edged up 0.8%, pushing its 2024 returns to 9.3%. The hedge fund complex had about $63 billion in assets under management as of Aug. 1. Overall, the hedge fund community recently moved into a defensive mode as macroeconomic uncertainty mounted.

Persons: Ken Griffin, The Beverly Hilton, Ken Griffin's, Citadel's, Goldman Sachs Organizations: Citadel, Milken Global, The Beverly Locations: Beverly Hills , California, Wellington, Miami

☆ Why CTOs have the biggest job on Wall Street right now. Tech leaders from Goldman and Citadel open up about how the job is evolving in the age of AI.
▼ + stars: | 2024-08-02 | by ( Bianca Chan | ) www.businessinsider.com time to read: +8 min

"The most powerful part of the AI story thus far is the chief technology officer, chief information officer," Griffin said at the Milken Global Institute. At the most profitable hedge fund of all time, that person is Umesh Subramanian, Citadel's chief technology officer. But in the age of generative AI, the role of the CTO has evolved into something that reaches far beyond the back office. Nearly two years after OpenAI introduced ChatGPT, finance firms are still trying to figure out the best ways to leverage generative AI for their own businesses and workers. Related stories"The level of investment right now in AI, trickling down the whole value chain, is no longer only a technology investment," Argenti said.

Persons: —, Ken Griffin, Griffin, They've, Subramanian, OpenAI, it's, Andrew Chin, AllianceBernstein, Goldman Sachs, Marco Argenti, Chin, Wells, Bridget Engle, Engle, Keri Smith, Argenti, Citadel's Subramanian, Wall, Accenture's Smith, AllianceBernstein's Chin, Goldman's Argenti Organizations: Service, Citadel, Milken Global Institute, Business, BNY Mellon, Goldman, Amazon Web Services, Management, Accenture, Tech, Wall Locations: Wall

☆ Tesla shares fall 6% after report of robotaxi unveiling delay
▼ + stars: | 2024-07-11 | by ( Katie Bartlett | ) www.cnbc.com time to read: +2 min

Tesla shares fell about 6% on Thursday after Bloomberg reported that the electric vehicle maker is delaying the unveiling of its Robotaxi by two months. Tesla's stock slump on Thursday followed an 11-day rally that was sparked by a better-than-expected deliveries report for the second quarter. Tesla CEO Elon Musk has promised shareholders a robotaxi for years. In 2015, he said Tesla's cars would achieve "full autonomy" within three years. However, the company has yet to deliver a robotaxi, autonomous vehicle or technology that can turn its cars into "level 3" automated vehicles.

Persons: Elon Musk, The Beverly Hilton, Tesla, Musk, — CNBC's Lora Kolodny Organizations: SpaceX, Tesla, Milken Global, The Beverly, Bloomberg, General Motors Locations: Beverly Hills , California, China, Tesla

☆ Another Fed rate hike in June is a bigger possibility than investors think, according to longtime strategist Lindsey Bell. She told us why, and what to buy now.
▼ + stars: | 2023-05-18 | by ( Marley Jay | ) www.businessinsider.com time to read: +4 min

Investors have grown confident that the Federal Reserve is done raising interest rates for now. Bell says the Fed may not be done raising rates since some important inflation measures remain high. The widespread expectation among investors is that the Federal Reserve is now on pause, and will leave interest rates where they are for a while. "The consumer and corporations are absorbing higher interest rates probably better than most people had anticipated," she said. And Lee pointed to decreases in parts of the economy that are more sensitive to interest rates.

☆ Alex Roepers has nearly doubled the S&P 500's returns over 30 years by holding only a few stocks at a time. He told us how he nails the right picks — and detailed 4 bets he's making now.
▼ + stars: | 2023-05-15 | by ( James Faris | Akin Oyedele | ) www.businessinsider.com time to read: +4 min

Hedge fund manager Alex Roepers has scored a 3,500% return in the last 30 years. Here are four stocks that the top hedge fund manager is bullish on right now. Investors who think the S&P 500's 1,900% return over the past three decades is impressive must not be familiar with the work of hedge fund manager Alex Roepers. Those tenets set a high bar for what companies can qualify for inclusion in Roepers' fund. The hedge fund manager said he looks to enter investments when they're trading at 5x-6x EV/EBITDA or 7x-8x EV/EBIT, before exiting them at 8x-9x EV/EBITDA or 11x-13x EV/EBIT.

☆ Billionaires and CEOs descended on Beverly Hills to talk recession, bank failures, and more. Here's the inside track.
▼ + stars: | 2023-05-07 | by ( Matt Turner | ) www.businessinsider.com time to read: +4 min

On the agenda today:But first: The big takeaways from the Milken Institute Global Conference in Beverly Hills. Senator Joe Manchin (D-WV) speaks at the 2023 Milken Institute Global Conference Mike Blake/ReutersThe big-money set jetted into LA last week for the Milken Global Conference. Biggest opportunityCampbell: The pullback in lending by banks is raising the hopes of those in the private credit industry. Read more:'Junk fees'Getty ImagesIt goes by many names: an administrative fee, a transaction fee, even a "regulatory compliance" fee. Akash Nigam, the founder and CEO of Genies, who is spending $2,400 a month on ChatGPT accounts for all his employees.

☆ Here are the 5 key takeaways from this year's Milken Global conference
▼ + stars: | 2023-05-05 | by ( Dakin Campbell | ) www.businessinsider.com time to read: +12 min

The pullback by banks is raising the hopes of those in the private credit industry. Some panelists and others who spoke in the hallways of the event suggested that there was a large-scale handoff from private equity to private credit. Many private-equity firms are scrambling to raise private credit funds to take advantage. "I don't think this is the end of private equity, but the environment certainly favors private credit," he said. And that will show up in lower returns for private credit funds, she said.

☆ Davos vs. Milken: Battle of the high-profile conferences
▼ + stars: | 2023-05-05 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

Arguably the biggest financial conference of the year just wrapped in Beverly Hills. Insider's Dakin Campbell, who was on the ground at Milken, has a report on the five biggest topics discussed this year. Dakin's report got me thinking about how Milken stacks up against another high-profile conference: Davos. Milken is also designed, thanks to its namesake, with a keen eye on what the finance industry wants, he added. Click here to read more about the biggest topics being discussed at the Milken Conference.

☆ Elite investors and fund managers at the legendary Milken conference warn of a recession and credit crunch
▼ + stars: | 2023-05-04 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

Elite money managers overseeing trillions of dollars convened at the 2023 Milken Global Conference in Los Angeles this week. The consensus was clear: they think markets are mispositioned for a scenario where the central bank keeps rates higher for longer. "As our chief economist likes to say," Hunt said, "at higher rates, bodies will continue to float to the top over the course of the summer." And with yet another Fed rate hike officially in the books, financial conditions are only going to get tighter and more companies could be caught off-guard. On Wednesday, West Texas crude dropped more than 4.4%, the steep declines coming the same day as the Fed's rate hike.

☆ A $1.1 trillion investment chief shares her 3-part checklist for confirming a recession has started — and details 4 stocks she expects to outperform no matter what
▼ + stars: | 2023-05-03 | by ( James Faris | Akin Oyedele | ) www.businessinsider.com time to read: +6 min

Nuveen investment chief Saira Malik is still forecasting a recession in the next year. Malik also shares four top stocks investors can buy to set themselves up for long-term success. "The consumer — which I would have said was holding up very well — I'm worried about tighter banking conditions, tighter banking credit on the consumer," Malik said. Additionally, the labor market is now showing cracks, even though the unemployment rate remains historically low at 3.5%. 4 stocks set to outperform in a downturnDespite her concerns about the economy, Malik doesn't see a massive market sell-off coming.

☆ Elite investors overseeing trillions warned the crowd at Milken about a looming US credit crunch. Here's how 2 of them say they're planning to capitalize.
▼ + stars: | 2023-05-01 | by ( James Faris | Akin Oyedele | ) www.businessinsider.com time to read: +3 min

Leaders of major asset management firms discussed the prospect of a credit crunch at the 2023 Milken Global Conference. They shared how they're planning to capitalize on the dislocations that arise. The tighter environment was top of mind during an economics panel at the 2023 Milken Global Conference, with multiple participants warning of an impending credit crunch. "The commercial real estate sector in particular, which was 50%-plus from the regional banking system, is definitely going to be limited." Hunt also discussed how PGIM is planning to react to a credit crunch: by continuing as normal and trying to absorb more market share from traditional banks.

☆ CNBC Pro Talks at Milken Global Conference: Investors talk inflation, Fed, crypto
▼ + stars: | 2022-05-02 | by ( Hannah Miao | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCNBC Pro Talks at Milken Global Conference: Investors talk inflation, Fed, cryptoCNBC's Brian Sullivan spoke with four investment managers at the Milken Global Conference on how to navigate financial markets.

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