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by winston » Wed Jul 27, 2016 3:37 pm
As a result, net flows to hedge funds for the second quarter were negative $10.68 billion.
The first half of 2016 saw net flows of negative $27.95 billion.
by winston » Fri Sep 02, 2016 9:15 pm
TPG-Axon managed approximately $1.6 billion in assets as of July 31, the person said. That is down from $2.4 billion in July 2015 and about $13 billion in early 2008.
The firm was founded in 2004 by Singh, a former co-head of the principal strategies investment unit at Goldman Sachs.
by winston » Thu Sep 29, 2016 7:49 am
"I don't believe that the hedge fund industry will go away, but in order for the very best managers to shine again in a reliable fashion, it probably needs to shrink.
The good news is that this process is already underway. The bad news is that it doesn't look pretty or feel good while in progress."
The onset of Regulation FD (Fair Disclosure) over the last decade has slowly but surely removed a lot of what was once referred to as "edge" from the available toolkit of professional investors.
Corporate executives no longer have their favorite analysts when it comes to the dissemination of material information.
Fund managers can no longer simply flood The Street's trading desks with commission dollars to secure the vaunted "first call" ahead of estimate cuts, price target bumps or rating changes.
The size of the industry and the sheer amount of competitors is another secular roadblock to outperformance.
There are 10,000 funds managing $3 trillion today, whereas in 1990, it was a few hundred funds managing $39 billion.
Size is negatively correlated with outperformance; this is an immutable law of finance.
by winston » Thu Feb 02, 2017 11:02 am
by winston » Tue Aug 15, 2017 11:31 am
These 13-Fs filings come out 45 days after the end of each quarter, so it’s possible they could have traded in and out of the position.
Alibaba:-
David Tepper’s Appaloosa Management initiated a new position with 3.69 million shares in the quarter, while Stanley Druckenmiller’s family-office Duquesne snapped up a new stake of 710,200 shares.
Julian Robertson’s Tiger Management also bought 214,000 shares, while Laffont’s Coatue Management boosted its existing stake in the quarter.
Loeb’s Third Point got back in Alibaba again, initiating a stake of 4.5 million shares, a position valued at more than $634 million at the end of the quarter.
Puts on S&P 500
Last week, DoubleLine Capital’s Jeff Gundlach told CNBC that he had bought put options on the S&P 500, saying it’s “like free money.”
Paul Tudor Jones’ hedge fund owned puts on 2.25 million shares of the SPDR S&P 500 ETF (SPY). During the quarter, Tudor increased its bet, buying puts on 774,400 shares.
Steven A. Cohen’s family-office Point72 also increased its bet, buying put options on 650,300 more shares in the quarter, so the fund last held puts on 2.78 million shares.
Activist investor Barry Rosenstein’s JANA Partners’ largest position in the second quarter was put options on 2.32 million shares, while SAC Capital alum Jason Karp’s Tourbillon Capital’s biggest position was puts on 2.5 million shares of the ETF.
by winston » Tue Aug 15, 2017 8:30 pm
by winston » Tue Jan 05, 2021 8:02 am
Accounting for roughly $3 trillion in assets, hedge funds showed resilience in 2020, with many outperforming the market, according to investors.
“What I would say about 2021 is it looks like it’s going to be a year of recovery”. “That’s the consensus view".
"There will be “less uncertainty and more certainty” in the new year.
Financials are a sector that has been challenged by coronavirus and could be supported by a recovery, adding that the sector typically performs better in the initial stage of a recovery.
“On the macro side, managers say that with rates so low, they are diversifying fixed income with inflation and especially on the U.S. side and gold”.
North American energy is another beaten-down sector popular with hedge funds, market participants said. The Canadian Energy Sector Index lost 37.8% over the entirety of 2020 while a comparable index for the U.S. fell 37.3%.
“I would say that energy consumption is going to make a very healthy recovery and probably continue on an above-historical year-on-year level”. He added that oil was only one source of energy that would see growth.
by winston » Thu Mar 11, 2021 3:56 pm
Some of the most common hedge fund strategies:-
1. Long/Short Equity
2. Market Neutral
3. Arbitrage
4. Credit
5. Event Driven
6. Quantitative
7. Global Macro
by winston » Tue Apr 13, 2021 8:18 pm
Stocks moving higher on a lower volume is a warning sign for a stock market crash.
We now have two consecutive weeks of higher jobless claims, and this has started to bother traders.
Hedge funds aren't spending their chips on recovery stocks; they are more interested in investing their money on defensive stocks.
Their exposure to cyclical stocks is at its lowest level relative to defensive shares in almost ten years
by behappyalways » Sun May 22, 2022 12:38 pm
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