Bridgewater

What Hedge Funds Bought And Sold In Q2: The Full 13-F Summary

Today is the deadline for hedge funds to submit their Q2 13-F filings. Among the more notable changes was the previously reported 55% increase in Warren Buffett's Apple shares, offset by the cut in his Wal-Mart stake; Elliott's addition to stakes in security firms Qualys, Fortinet, CyberArk; ValueAct's new stakes in Morgan Stanley, Seagate; Tiger's exit of Netflix; Jana addition of Time Inc, and Soros' cut of his gold miner positions.

Frontrunning: August 11

  • Stocks choppy, Kiwi soars after rate cut (Reuters)
  • Putin discusses Crimea security after alleged Ukrainian incursions (Reuters)
  • IEA Sees Oil Glut Easing (BBG)
  • Meanwhile: more oil - Iraq, oil companies agree to restart investment, boost output (Reuters)
  • U.S. Drillers Need $60 Oil to Stage Real Comeback, IEA Say (BBG)

Bridgewater Fires Back At NYTimes 'Sex Scandal' Story: Firm Is "Not For Everyone"

It seems the New York Times may have struck a nerve with its recent article on Bridgewater which exposed a sexual harrassment claim made by a former employee who described the fund as a “cauldron of fear and intimidation." While the letter generally attempts to discredit everything in the NYT article, we did find one point of agreement as Bridgewater pointed out that the firm is "not for everyone." 

Bridgewater's Culture Of "Probing" - Sex Scandal Strikes World's Largest Hedge Fund

Employee files sexual harrassment complaint where Bridgewater is described as a  “cauldron of fear and intimidation" where employees are exposed to constant video surveillance and encounters with patrolling security guards that "silence" employees who do not fit the Bridgewater mold. In light of these new developments, we're left wondering which particular "values" Comey carried with him to the FBI and exactly how far he "spread" them within the organization.

Frontrunning: July 18

  • Global stocks rise on SoftBank bid for ARM, dollar up vs yen after Turkey crushes coup (Reuters)
  • U.S. backs justice for coup plotters but urges Turkey to keep rule of law (Reuters)
  • Law and Order Will Be a Big Republican Convention Them (WSJ)
  • SoftBank to buy UK chip designer ARM in $32 billion cash deal (Reuters)
  • Rate-starved U.S. banks happily gobble mortgage business (Reuters)

FBI Director Comey Explains His "Surprising & Confusing" Decision To The House - Live Feed

Having stunned even the most liberal of liberal media outlets with his seemingly unexplainable decision not to bring charges against Hillary Clinton (thus nullifying six criminal laws), FBI Director Jim Comey faces an oversight bloodbath today in front of the House Oversight Committee. However, what few may not know about the "deeply philosophical, religion major" is that he spent three short years (just enough for Dalio to realize 'value') being "probed" at the world's largest hedge fund - Bridgewater, peddling "radical transparency."

Derivative Strategist Warns Of $150 Billion In Quant Selling Over The Next Three Days

“The bigger the down move today, the more they have to sell, which would basically create a vicious cycle,” Cheong, head of Americas equity derivatives strategy at UBS, said in a phone interview. “We’ll see front-loaded selling in the range of $100 billion to $150 billion over the next two to three days. It could be very similar to August in terms of model-based selling.”

What The Biggest Hedge Funds Did In Q1: The Full 13-F Summary

While far less attention is being paid to hedge fund 13F filings, which show a stale representation of equity long stakes among the hedge fund community as of 45 days prior, than in years gone by as a result of increasingly poor performance by the 2 and 20 crowd, they still remain closely watched source of investment ideas but mostly to find out what the new cluster ideas and hedge fund hotel stocks are at any given moment. Here are the highlights from the latest round of 13F filings.

Futures Fizzle After Oil Fades Bounce Above $48

It has been more of the same overnight, as global stocks piggybacked on the strong US close and rose despite the lack of good (or bad) macro news, propelled higher by the two usual suspects: a higher USDJPY and a even higher oil, if mostly early on in the trading session.

The New New 'Deal' - "Markets Are Too Important To Be Left To Investors"

In the same way that FDR had an existential political interest in generating inflation and preventing volatility in the US labor market, so does the US Executive branch today (regardless of what party holds the office) have an existential political interest in generating inflation and preventing volatility in the US capital markets. Transforming Wall Street into a political utility was an afterthought for FDR; today the relative importance of the labor markets and capital markets have completely switched positions. Today, the quote would be "markets are too important to be left to investors."