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Gold Pinned to Brexit Angst as Traders See $1,350 If Leave Wins

Edit Bloomberg 16 Jun 2016
Hedge fund manager Cliff Asness said this week that his $154 billion firm raised estimates for market risk ... “This will drive prices higher.” ... The U.K ... Gold stocks, such as AngloGold Ashanti Ltd ... If Brexit causes financial markets to deteriorate globally and spreads panic, gold will jump as high as $1,600, Jeffrey Rhodes, CEO of Zee Gold DMCC in Dubai who’s been trading gold since 1978, said in an interview with Bloomberg Television....

High-Priced Stocks Torturing Bears as S&P; 500 Record Again Looms

Edit Bloomberg 08 Jun 2016
Money has coursed out of shares and ended up in havens such as gold expected to do well in recessions ... And despite a two-month decline, the number of bearish bets as a percentage of shares outstanding stood near 4 percent, compared with the average of 3.7 percent since March 2009 ... Stocks have gone without making a record for more than a year even as the rally since 2009 just became the second-longest bull market in history....

Hedge fund bosses make too much? Get used to it

Edit The Salt Lake Tribune 19 May 2016
Hedge funds are back in the headlines, thanks mainly to the release of Institutional Investor’s Alpha magazine annual report on the earnings of top hedge fund owners and managers. The Hedge Fund Rich List includes such well-known luminaries as Citadel’s Ken Griffin, Bridgewater’s Ray Dalio and Renaissance Technologies’ Jim Simons ... As AQR Capital Management chief Cliff Asness points out, this list isn’t a good guide... ....

The richest Wall Streeters in the world want you to give up your billionaire dreams

Edit Business Insider 17 May 2016
If you haven't watched this scene you absolutely should, it's painfully fun, just as schadenfreude should be. In the show, Axe made his money as a hedge fund manager ... Over the last two weeks the "Masters of the Universe," as writer Tom Wolfe dubbed them back in the 1980s, have met around the country to lament their inability to perform, and to tell those who pay them that they will be back....

The S&P; 500 Valuation Tool That Shows 2007 Peak a Long Way Away

Edit Bloomberg 15 May 2016
Plotting the index’s per-share earnings against the yield on the 10-year Treasury note, a technique sometimes referred to as the Fed Model, shows the S&P 500 is still less expensive than any time during the 2002 to 2007 bull market ... Critics such as AQR Capital Management LLC founder Clifford Asness have contended the technique doesn’t work because inflation affects stock valuations and interest rates differently....

Chanos Says He Won With SunEdison Short After Reversing View

Edit Bloomberg 12 May 2016
Once considered a hot hedge fund stock, SunEdison’s fall and subsequent collapse into bankruptcy caught hedge funds including David Einhorn’s Greenlight Capital, Cliff Asness’s AQR Capital Management and Larry Robbins’s Glenview Capital Management wrong-footed ... He criticized the company’s leverage, saying the company’s valuation is too high given its hefty spending and what he sees as continuing low prices for liquid natural gas ... ....

Here's what the future of hedge funds looks like

Edit Business Insider 07 May 2016
As the more established players continue to grow, their performance will suffer in most cases and many will look to diversify their product lines or go public to keep growing ... Pensions will act as something of a last-in, first-out player in hedge fund land ... I can’t believe more money managers haven’t followed in the footsteps of Cliff Asness to replicate hedge fund strategies using a lower cost, more liquid, quantitative approach....

Apollo's Black Sees the World at Milken as Dondero Dodges Trump

Edit Bloomberg 04 May 2016
“Got your jokes ready?” Leonard Green & Partners’ managing partner Jon Sokoloff asked Rubenstein, whose public appearances are now almost known as much for the 66-year-old’s quips as his market insights ... AQR Capital Management co-founder Cliff Asness, when asked which candidate he’s backing, responded, “never any of them.”....

Billionaire fund manager Steve Cohen: My 'worst fears were realized' in February

Edit Business Insider 03 May 2016
Cohen is the founder of Point 72, a family office formerly known as hedge fund SAC Capital. He was speaking at a panel with AQR Capital's Cliff Asness and Neil Chriss of Hutchin Hill Capital ... Everyone thought the end of days were near as China tailspinned, dragging the rest of global stock markets with it, and commodities prices were at historic lows ... To Cohen, Asness, and Chriss, it feels like a day of reckoning is coming....

This is how billionaire Steve Cohen got into trading stocks

Edit Business Insider 03 May 2016
The first person he mentioned was his grandmother ... Cliff Asness of AQR Capital had to be convinced by his father to ditch law school and take the GMAT instead. "I had an interest in candy [as a child]," he said. Us too, Cliff, us too ... ....

Hedge Funds Under Attack as Cohen Says Skilled People Are Scarce

Edit Bloomberg 03 May 2016
Cohen’s SAC Capital Advisors agreed to return outside money to clients as part of an agreement with U.S ... Cohen said one of his biggest worries last year was that his firm might become the victim of an indiscriminate market selloff as other funds endured troubles and reduced risk ... He made the comments in a panel discussion with money managers Cliff Asness and Neil Chriss....

Smart-Beta War Rages On as Cliff Asness Slams Pimco Star's Paper

Edit Topix 26 Apr 2016
That in a nutshell is Cliff Asness's opening salvo into an escalating war of words over smart-beta exchange-traded funds, triggered in February when one of the inventors of the approach said many had become too expensive. Asness, co-founder of AQR Capital Management, joins other theoreticians jumping in the fray, which goes to the heart of a strategy that bridges active and passive management ... ....

‘Stop Trump’ Movement’s New Reality: He Can’t Be Stopped Until July

Edit Yahoo Daily News 21 Apr 2016
As Donald Trump shows off his newfound campaign discipline and closes in on the Republican presidential nomination, the hastily put-together movement to stop him is confronting a hard truth ... The super-PACs advocating for Kasich had only abut $1.2 million on hand as of April 1, according to campaign finance reports filed on Wednesday ... He said the system was “dishonest” and promised to “straighten it out” as president....
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