Hedge fund products might not be so exclusive anymore. Man Group, which oversees roughly $43 billion in assets in the US, entered the ETF race earlier this month with two active bond ETFs, the Man Active High Yield ETF (MHY) and the Man Active Income ETF (MANI), which will invest, respectively, in junk bonds and debt instruments including corporate, government and securitized notes. Several other firms have launched or sought SEC approval for their own strategies in the past year, a sharp departure from t ...

Modular Asset Management, a macro hedge fund firm based in Singapore, will reportedly cease managing funds for Millennium Management at the end of the year. This decision comes after more than eight years of collaboration and is by mutual agreement, reported Bloomberg, citing sources familiar with the matter. Modular has managed approximately $600m for Millennium in a separate account. The termination of this deal allows Modular to diversify its investor base, reducing its dependency on a single large i ...

Core Insights - The individual has extensive experience in the investment banking sector, particularly as a short-side trader and analyst, which has shaped their understanding of macroeconomic trends and financial markets [1] Group 1: Professional Background - The individual began their career in late 1989 as a trader for a short-biased hedge fund, gaining valuable experience during a significant bull market [1] - They have worked with notable firms such as Fleckenstein Capital and East Shore Partners, and spent 16 years with PrudentBear, focusing on strategy and portfolio management [1] - Prior to entering the investment field, they worked as a treasury analyst at Toyota during critical economic periods, which sparked their interest in macro analysis [1] Group 2: Economic Philosophy - The individual was influenced by Austrian economics through the works of Dr. Richebacher, which solidified their passion for economic and macro analysis [1] - They believe that significant developments in finance and policymaking are often overlooked by conventional analysis and media, prompting them to start a blog to highlight these issues [1] - The individual draws parallels between current economic conditions and historical events, emphasizing the importance of understanding the current global Bubble period [1]

The delisting would be another blow to London’s stock exchange, which has struggled to attract new listings. - Chris Ratcliffe/Bloomberg News A Goldman Sachs investment vehicle plans to quit the London Stock Exchange, having struggled to attract investor interest since going public four years ago. Goldman founded Petershill Partners in 2007 and listed the company’s shares in an initial public offering in 2021, promising investors access to the fast-growing alternative asset-management industry. Most Rea ...

Group 1 - Wealthy investors in the U.S. and Asia have cancelled plans to invest in U.S. hedge funds, shifting focus to Europe and the Middle East [1] - Half of the allocators who previously intended to invest in U.S. hedge funds have abandoned these plans according to a Bank of America survey [1][2] - The survey included 263 respondents representing approximately $840 billion in industry cash, showing European allocations exceeded expectations by 8% [2] Group 2 - U.S. and Asian investors are increasingly investing in hedge funds based in Europe and the Middle East, where many global hedge funds have established operations [2] - Hedge funds managing over $10 billion are favoring separately managed accounts, which are special investment vehicles created for individual allocators [3] - So far this year, firms such as pension funds, sovereign wealth funds, and family offices have invested $37 billion into hedge funds, marking the highest influx of new money since at least 2016 [3] Group 3 - In public markets, there has been a recent return of money to U.S. equity funds, with weekly flows reaching a year-to-date high of nearly $58 billion [4]

Core Viewpoint - Treasury Secretary Scott Bessent warns that if Zohran Mamdani implements his socialist economic plans as mayor, New York City will require a federal bailout, which he will not provide [1][4]. Group 1: Economic Implications - Bessent emphasizes that New York City will come to the federal government for a bailout if Mamdani's policies are enacted [1]. - He predicts that the implementation of Mamdani's plans could lead to a loss of the city's tax base, as high earners and businesses may leave [6]. - Bessent notes a significant transfer of wealth from Manhattan County to Palm Beach County over the past five years, indicating a trend of economic flight [6]. Group 2: Criticism of Mamdani's Policies - Mamdani's proposals, which include free buses, city-owned grocery stores, and rent freezes, have raised concerns among Wall Street executives [7]. - Bessent describes Mamdani's financial plan as potentially destructive to jobs and a catalyst for businesses and wealthy taxpayers to exit New York [10]. - The sentiment against Mamdani's agenda is echoed by billionaire hedge fund manager Bill Ackman, who has pledged to support a rival candidate [8].

Core Viewpoint - Market euphoria could lead U.S. stocks to rise another 20% before a significant crash, reminiscent of the 1929 market collapse, according to Universa Investments [1][3]. Market Performance - The S&P 500 has increased approximately 13% this year, reaching a record high after the Federal Reserve's recent interest rate cut [1][2]. - The S&P 500 index is currently around 6,653 points, with a potential target of over 8,000 points if the market continues to rally [2]. Economic Outlook - The Federal Reserve is likely to implement more interest rate cuts to address a weakening labor market, which may further fuel Wall Street's rally [2]. - Despite the current market optimism, there are concerns about the sustainability of this growth due to high borrowing costs impacting the U.S. economy [3][6]. Investment Strategy - Universa Investments, a $20 billion hedge fund, specializes in protecting against rare market shocks using financial instruments that gain value during extreme market dislocations [3][4]. - The firm has achieved an average return on capital exceeding 100% since its inception in 2007, demonstrating its effectiveness in navigating market volatility [3]. Historical Context - Universa's performance during the COVID-19 pandemic highlighted its role as a tail-risk hedge fund, providing significant returns amid market chaos [4]. - The firm is viewed as a bearish market expression, yet it remains bullish in the short term, indicating a paradoxical investment strategy [4]. Predictions - The chief investment officer of Universa, Mark Spitznagel, previously indicated that the current market conditions represent a "goldilocks" moment, with expectations of further euphoria before a downturn [5]. - Spitznagel has also warned that the full impact of increased interest rates post-pandemic has yet to be realized, suggesting potential economic vulnerabilities [6].

Group 1: Economic Context - Gold has historically been a reliable asset for wealth preservation, especially during times of inflation, as it cannot be printed like fiat currencies [1] - The U.S. consumer price index has increased by 25% over the past five years, indicating significant inflationary pressures [2] - In 2025, $100 will only have the purchasing power equivalent to $12.05 in 1970, highlighting the severe erosion of money's value over time [2] Group 2: Federal Reserve and Political Pressure - Ken Griffin, a prominent hedge fund manager, warns that political pressure on the Federal Reserve could lead to unchecked inflation, adversely affecting retirees' savings [3] - The Federal Reserve has recently lowered its benchmark rate by 25 basis points and indicated the possibility of two more cuts this year, while acknowledging that inflation remains elevated [4] - Griffin criticizes President Trump's public attacks on the Federal Reserve, suggesting that such actions could have detrimental economic consequences [5] Group 3: Investment Strategies - Gold is viewed as a safe haven asset, with its price increasing by over 35% in the past year, making it an attractive option for investors during economic uncertainty [6] - Real estate is also considered a strong hedge against inflation, with the S&P CoreLogic Case-Shiller U.S. National Home Price Index rising by more than 50% over the past five years [10][11] - Crowdfunding platforms like Arrived allow investors to gain exposure to real estate with minimal investment, starting as low as $100, without the burdens of property management [12]

All-season tires can be decent in winter conditions, but may not usually be best in a place like Phoenix, where summer tires shine year round. If the stock market had seasons, it has been (mostly) summer for a long time, and that has made a tough sell for specialty funds that are designed to handle sun, rain and the occasional blizzard. So-called risk-parity funds have struggled to get much attention since just after the 2008 financial crisis — but that may be changing. The very small category of risk-par ...

Core Insights - The article discusses the investment strategy of MMMT Wealth, which is focused on high-growth investments while preparing for a potential market pullback in 2025 or 2026 [1] - MMMT Wealth was founded in 2023 by Oliver, a CPA with experience in private equity, hedge funds, and asset management, who aims to provide insights on investment strategies and stocks [1] - The investment approach emphasizes gathering insights from various sources, including investor calls, presentations, and financials, with a focus on a 3-5 year time horizon [1] Company Overview - MMMT Wealth is primarily managed by Oliver, who has 5 years of investing experience and 4 years as a CPA [1] - The company started as an online platform where Oliver shares his investment strategies and insights through X and Substack [1] - The goal of MMMT Wealth is to identify the best businesses globally, recognizing that a few key investments can significantly impact financial outcomes [1]