Bill Harnisch, the chief investment officer at hedge fund Peconic Partners, is forecasting that stocks will struggle in the coming years, with the S&P 500 trapped in a band between 2,500 and 4,400 for the next 18-36 months, according to a report by Bloomberg. The report cites Harnisch, who has chalked up a 29% return so far this year on the back of a “prescient call on inflation 15 months ago”, as saying that he expects the Federal Reserve will be forced to keep rates higher for longer than some investors are hoping. And wile stocks may rally periodically, any

The world’s largest hedge fund firms are attracting the lion’s share of investor allocations and the brightest talent according to a report by Bloomberg, with 2023 set to be a pivotal year for the $4 trillion industry. The overwhelming majority of hedge fund indices are negative so far this year, but multi-strategy and macro funds, which have attracted the largest share of investor cash, have posted gains and helped to shield clients from a stinging stock market sell-off prompted by rising interest rates and a pivot away from years of quantitative easing by central banks. Multi-strategy giants Citadel and Millennium

A number of Brazil-based hedge funds have upped their bets against the country’s equity market on the back of an expected deterioration in Brazil’s fiscal outlook under president Luiz Inacio Lula da Silva, according to a report by Bloomberg. Legacy Capital, XP Asset Management and Genoa Capital have all reportedly built up their short positions against domestic stocks, while Verde Asset Management, has slashed the equity exposure of its flagship fund from its usual 25% to just 15%. The report cites Felipe Guerra, founding parter at Legacy as saying that equity markets look expensive “all over” including in Brazil. Speaking

A number of hedge funds have increased their short bets against tether, the $66 billion stablecoin that some industry insiders believe is a crypto catastrophe in-waiting, and potentially on a scale that would dwarf the recent demise of Sam Bankman-Fried’s FTX/Alameda Research empire, according to a report by Bloomberg. The report cites unnamed sources as revealing that Fir Tree Capital Management and Viceroy Research are among the firms betting against tether, in the belief that ongoing turmoil in the crypto market could push tether’s value below its promised parity with the US dollar.  Tether is the world’s third-most traded token,

Hestia Capital Management, one of the largest shareholders in  Pitney Bowes, is planning to nominate a “majority slate” of board candidates at the shipping-and-mailing firm’s 2023 annual meeting of shareholders as it looks to oust the company’s current CEO and chairman, according to a report by CTInsider. The activist hedge fund, which owns a 7.1% stake in the company, revealed in November that it was pushing for a raft of changes at Pitney Bowes, including the possible sale of the underperforming e-commerce division of the business. But now it wants to see President and CEO Marc Lautenbach and board Chairman

The globalisation of Brazil’s hedge fund sector is providing a boost to several big banks, including Goldman Sachs Group Inc, UBS Group AG and Deutsche Bank AG, as managers look to overseas investments to boost returns, according to a report by Bloomberg. As Brazil’s hedge funds broaden their ‘outlook’ the bank’s global-markets units are seeing a boost in business by  providing liquidity, lending securities and executing simultaneous trades in different regions.  Brazil-based asset management clients have upped their investment in US futures by 10% this year, according to UBS, while the report cites Ricardo Mora, co-head of Latin American the

Ray Dalio, the billionaire founder and former boss of hedge fund Bridgewater Associates, has teamed up with Hollywood filmmaker James Cameron to acquire an equity stake in a company that makes submarines for ultra-wealthy clients, according to a report by the Financial Review. Dalio, who announced recently that he had given up control of the world’s largest hedge fund, having founded the firm back in 1975, is now part-owner of Triton Submarines, a Florida-based company that specialises in submersibles for the super-rich. Financial details of the deal have not been revealed but Dalio, who already owns four submarines, now owns