Three Ex-Goldman Bankers Get Eisler Backing for Substack Rival

Three former Goldman Sachs Group Inc. bankers have secured the backing of Edward Eisler for a media startup that looks to challenge blogging platforms like WordPress and Substack Inc...

Steven Cohen’s Venture Firm Backs 24-Hour Stock-Trading Startup

Hedge-fund billionaire and New York Mets owner Steven A. Cohen is backing a startup that wants to let investors trade stocks 24 hours a day, seven days a week.

Point72 Ventures, Mr. Cohen’s early-stage venture-capital fund, is leading a $14.25 million funding round for 24 Exchange. The companies announced the transaction Wednesday after it was reported earlier by The Wall Street Journal...

Hedge fund CEO readies Senate bid despite Oz announcement

Hedge fund CEO David McCormick is preparing a run for Senate in Pennsylvania, a move that would upend the Republican primary for the third time in as many weeks.

McCormick, who runs Bridgewater Associates, is traveling across the state to meet with top Republicans, placing calls to local GOP leaders and talking with political consultants. He is expected to join the race in the next few weeks, according to a source close to the campaign...

Hedge Funds Bail From Stocks as Powell, Covid Roil Markets

Add professional traders to the ranks of investors bailing from stocks as anxiety over the omicron variant and monetary policy roil markets.

Hedge funds, which use borrowed money to amplify returns, have gone risk-off in a major way just as the S&P 500 endured its biggest two-day rout since October 2020. Net leverage, a measure of industry risk appetite that takes into account long versus short positions, fell to a one-year low this week, according to data compiled by Goldman Sachs Group Inc.’s prime brokerage.

Family Office Billionaire Renaissance Founder Boosts AI Investments

The investment firm for one of the world’s biggest computerized trading fortunes is expanding its holdings in machine learning.

Euclidean Capital -- Jim Simons's family office -- has invested in at least six companies since the start of 2020 that focus on artificial intelligence, spanning health care, customer services and aviation, according to data compiled by Bloomberg...

Falling Dollar Shows Resurgence of Carry Trade

A surprise fall in the dollar dented a popular currency trade notorious in past decades for wiping out hedge funds and fueling broad market selloffs.

Investors say hedge funds and other players accumulated massive bets known as carry trades in recent months. These investments involve borrowing currencies with ultralow interest rates, especially the Japanese yen and to a lesser extent the euro, and plowing the money into currencies where many expect rates to rise, such as the dollar...

Europe’s “top trader” escapes to a hedge fund

In a year when hedge funds like Balyasny are engaged in some enormous hiring, the temptation to move to a hedge fund is considerable. - Especially if you happen to be an equities index trader and you've just won an award.

Sources say that Laimonas Staskus, a director in EMEA equity trading at BlackRock has succumbed. He's understood to have resigned and is off to join a hedge fund. It's poignant because Staskus was named "trader of the year" for long only funds by the Trade Magazine just three weeks ago...

Activist Calls On Glencore to Spin Off Coal Assets

An activist investor has called on Glencore PLC to sell its thermal- coal business, pressuring the commodities giant to join other big miners in ditching the fuel.

Glencore is the last of the world’s large miners to retain a presence in thermal coal, a currently lucrative business but one seen by some as harmful to the environment. The company has said it plans to run down its thermal- coal operations by 2050 but remains committed meanwhile to the fuel, which analysts at Bernstein expect to generate 17% of earnings this year...

Hedge fund paying $1.8m a head is on massive hiring spree

If you aspire to work for multi strategy hedge fund Balyasny Asset Management in London, then 2021 has been a good year to act upon that impulse. BAM has been hiring like mad.

The fund has hired at least 50 people in London since January, which is particularly impressive given that it only employed 94 people in the UK in 2020, the year for which its most recent accounts are available. The new hires are drawn from banks, technology and rival hedge funds and cover everything from technology to data to portfolio management, compliance and research...

ExodusPoint recruits Morgan Stanley AI head

Lawrence Edwards headed AI, ML for Morgan Stanley's central risk book...