You might think the biggest problem billionaire Citadel boss Ken Griffin faces in moving his hedge fund and market-making empire from crime-ridden Chicago to the sunny and far less dangerous confines of Miami is the cost of the move. Yes, his team will be eating losses on expensive real estate (including his Chicago penthouse) that they need … Read more
Billionaire hedge fund manager Bill Ackman didn’t hold his tongue while watching the CBS News Vice Presidential Debate on Tuesday night. The founder and CEO of Pershing Square Capital Management made a series of X posts explaining why he thinks Republican nominee Sen. JD Vance (R-Ohio) outperformed Democratic nominee Minnesota Gov. Tim Walz. “JD Vance is whip … Read more
Southwest Airlines will reduce service to and from the world’s busiest airport — another sign that one of the country’s largest carriers is in the midst of steep cost-cutting efforts in the face of pressure from an activist investor. The Dallas-based airline is slashing arrivals and departures to and from Atlanta’s Hartsfield-Jackson International Airport while … Read more
U.S. stocks are bouncing back, and calm is returning to Wall Street after Japan’s market soared earlier Tuesday to claw back much of the losses from its worst day since 1987. The S&P 500 was rallying by 1.6 per cent in midday trading and on track to break a brutal three-day losing streak. It had tumbled a bit more … Read more
Many Wall Street fund managers know only to play offence, pushing up stock targets even when economic indicators signal otherwise. Many stock analysts recommend the “buy and hold” strategy despite obvious signs of impending market upheavals, such as a recession or high inflation. Convincing clients to “hold” on to their “offence only” assets ensures a … Read more
Groq AI, a buzzy startup fighting to compete with AI chip supplier Nvidia, is set to raise hundreds of millions of dollars in a new funding round, The Post has learned. The Mountain View, Calif.-based firm – which is not affiliated with the “Grok” chatbot developed by billionaire Elon Musk’s startup xAI – is aiming … Read more
New York Mets owner and CEO Point72 Steven A. Cohen, 67, recently disclosed that he is bullish on AI’s long-term prospects and described it as a “really durable theme” for investing. According to sources, he plans to launch a separate, AI-focused hedge fund that trades AI hardware and semiconductor firms worldwide. The asset management firm … Read more
Steve Cohen, the hedge fund titan who owns the New York Mets, wants to raise $1 billion to buy stocks in artificial intelligence firms, Bloomberg reported on Monday. Sources told the financial newswire his Point72 Asset Management firm will create a new fund to bet on or against AI hardware and semiconductor companies. The 68-year-old … Read more
Neuberger Berman’s managing director, Steve Eisman, shorted collateralised debt obligations to profit from the fall of the US real estate market in 2008. His bets against the housing market made him a legend on Wall Street. Actor Steve Carrell depicted Eisman’s journey during the global financial crisis in the movie “The Big Short.” Movie producers … Read more
New York Mets owner and billionaire investor Steven A. Cohen moves with speed and agility when it comes to investing. Cohen’s high-risk, high-reward investing approach has earned him a personal wealth of $19.8 billion. He is the founder of the now-defunct and one of the most successful hedge funds, SAC Capital Advisors, which was charged … Read more
