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Wednesday, October 27, 2021

Hedge Funds Had Another Dismal Quarter: Goldman Explains Why

Earlier today we pointed out the big highlight from the latest Goldman hedge fund tracker for Q1 2021, which is that after years of being the undisputed king, Amazon was finally dethroned from atop its throne at the top of the Hedge Fund VIP list and replaced with fellow FAAMG stock Facebook.As noted earlier, despite…

Sam Zell Buys Gold To Hedge Against Surging Inflation, “Debasement” Of The Dollar

Fed Chairman Jerome Powell insisted once again last week that the inflationary pressures building up in America's overheating economy would be "transitory" (though the central bank is keeping a close eye on prices in keeping with its mandate), but as Wall Street strategists warned their clients on Tuesday as US equities tumbled, signs that the…

Hedge Fund CIO: “Biden Is Betting The Voters That Brought Trump To Power Can...

“I know some of you at home are wondering whether these jobs are for you. So many of you, so many of the folks I grew up with, feel left behind and forgotten in an economy that is rapidly changing. It’s frightening,” said Biden, sketching out his ‘Blue-collar Blueprint to build America.’He claims 90% of…

Hedge Fund Giant Shorts SPACs As “‘Bezzle’ Becomes Apparent”

“The SPAC phenomenon will end badly and leave many casualties."That is the ominous warning from Paul Marshall, co-founder of hedge fund giant Marshall Wace with $55 billion AUM, as he sounds the alarm on the black-check-company-bubble.As we noted last week, it's already been a very bad month for SPACs: last week we pointed out that the…

Hedge Fund CIO: “At Some Point, Through Inflation, War Or Confiscation, The System Will...

By Eric Peters, CIO of One River Asset ManagementDusted off an anecdote from 2016 that explores the meaning of money. It is worth considering after a quarter in which the US dollar declined by more than 50% versus the dominant digital assets and the S&P 500 closed at an all-time high.“People work in order to…

Hedge Funds Reverse Course: Turn Most Short On Small Caps In Eight Months

As Bloomberg's Elena Popina writes this morning, Hedge funds were among the biggest fans of small-cap companies since late spring, putting money into the group with the consistency other corners of the market could only envy. However, it now appears that "their confidence is starting to wane."According to CFTC data, between May and last month,…

Hedge Fund CIO: “This Is The Endgame – We Are Entering The Hyper Speculation...

By Eric Peters, CIO of One River Asset Management“Markets are not that complicated in these moments,” said the CIO. “This is the endgame - we are entering the hyper speculation phase."These markets are intellectually uninteresting. “Being contrarian, subtle, nuanced, none of that makes money in these kinds of markets,” he said. “The more nuanced you…

Meet The Hedge Fund That Made A Killing On The Reddit-Fueled Squeeze

So much for "sticking it to the suits".The unfortunate reality of Wall Street is that, sooner or later, we knew that hedge fund players would emerge who capitalized on the Reddit-fueled squeezes of the last two weeks. One such fund was Jason Mudrick’s hedge fund. Mudrick Capital Management  made almost $200 million, fueled by stakes in names that squeezed higher…

Hedge Fund CIO: Elon Musk Has Already Bought Bitcoin

By Eric Peters, CIO of One River Asset Management“In retrospect it was inevitable,” tweeted Elon. No doubt that’s true. Everything in retrospect is inevitable. Musk had just posted “#bitcoin” onto his Twitter bio, a journey complete, destiny digital, inevitable.In retrospect, it was inevitable — Elon Musk (@elonmusk) January 29, 2021It’s possible Elon hasn’t yet bought…

Hedge Fund CIO: “The Truth Is That America’s Self-Destructive Odyssey Has Only Just Begun”

From Eric Peters, CIO of One River Asset ManagementDusted off an anecdote from my discussion with a Nobel Laureate on thought viruses, memes, idea-microbes, contagion (see below). After generations of relative social calm, when the things that drove markets were petty bumps in unemployment/inflation and periodic crises of our own creation, we must reorient our…

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