Finance/investing/citadel-ken-griffin-hedge-funds-c9ddf51d”>Citadel’s Ken Griffin Has Remade the Hedge-Fund Business, With Himself on Prime [WSJ]
“#1 Most Worthwhile Hedge Fund Supervisor of All Time” reads the message emblazoned on elevator doorways at its Miami headquarters…. “We made extra money than any agency has ever made within the historical past of capital markets,” Griffin stated of Citadel and a sister firm, Citadel Securities. “That is the place folks come after they wish to change the world of Finance.”
Finance/investing/markets-are-way-out-of-line-with-reality-according-to-these-measures-1209f9fb”>Markets Are Manner Out of Line With Actuality, In response to These Measures [WSJ]
The CAPE, the ahead PE and the Fed Mannequin…. all present that the presents being offered by Mr. Market—as legendary investor Benjamin Graham personified IT—are unattractive for big U.S. shares at current. They’re costly not solely in contrast with the previous however in contrast with smaller shares, international shares, company bonds and Treasurys, too.
The War on Prices Hits the Campaign Trail [DealBook]
Economists are skeptical about a few of the proposed coverage fixes….
IT’s value noting that… calling out corporations for operating up the worth of, say, milk, tortilla chips and bathroom paper polls nicely with swing-state voters and is supported by progressive teams….
Gold rallies to record high on softer dollar, rate-cut expectations [Reuters]
“Gold surged to a contemporary all-time excessive and breached $2,500 after two weeks of extraordinarily uneven buying and selling as bulls lastly impose their will,” Tai Wong, a New York-based unbiased metals dealer, stated.
“Consideration will now shift to give attention to Jackson Gap and Fed Chair Powell’s speech per week from at present to offer a extra detailed outlook on the form of the upcoming charge cuts.”
Point72 Hires Balyasny Veteran Hade as Chief Financial Officer [Bloomberg]
Jared Hade is about to affix the multistrategy hedge fund within the second half of 2025, in response to an inside Point72 memo seen by Bloomberg. He’ll substitute Anthony Paquette, who’s “leaving to pursue skilled pursuits exterior the agency,” in response to the memo…. Hade had spent greater than 18 years at Dmitry Balyasny’s eponymous agency — beginning as an analyst in 2006 earlier than working his method to companion and CFO….
Finance/exoduspoints-assets-drop-1-billion-first-half-2024-08-16/”>ExodusPoint’s property drop $1 billion in first half [Reuters]
The property within the agency based by Michael Gelband and Hyung Lee fell to $11.04 billion on June 30 from $12.02 billion on the finish of final yr, a regulatory submitting from earlier this month confirmed. In December 2022, the hedge fund had $13.1 billion in property…. ExodusPoint, which trades mounted revenue and equities property throughout totally different methods, has trailed friends this yr, posting positive factors of three.6% by way of July.
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