This hedge fund called out Huang's 'special relationship' months ago... [more]In May, New York short seller Culper Research published a 40-page report arguing that Nvidia had a "significant China problem". It questioned the chipmaker's dealings with Megaspeed, a Singapore-based firm and one of its largest Asian customers, which spent $4.8bn over two years. It al
Inside October's hedge fund bloodbath... [more]October was brutal for nearly every hedge fund strategy. Millennium and Balyasny lost money, Greg Coffey's Kirkoswald had its worst month on record with a drop of more than 6%, and the AI-led selloff continued into November after the Democrats' midterm wins. Stock-picking teams are being cut
Crowded hedge fund trades are unwinding fast after ugly October... [more]A tech selloff, a shock election result in Brazil and unrest in France hit positions across the industry in October. Supposedly independent strategies lost money together, exposing crowded, leveraged AI-linked positions. Balyasny fell 3.4% (down 2.7% for 2026), ExodusPoint fell 2.4% and Millennium 2
Hedge funds cut staff, pull money... [more]Engineers Gate, the quant firm run by Greg Eisner, cut most of a team that accounted for a sizable share of its assets after 18 months of underperformance. Eisner warned that multi-manager funds keep exiting the same trades at the same time during stress, which magnifies losses. Millennium is pullin
Macro trader Haidar's hedge fund plunged 11.5% in October tumult... [more]Said Haidar's flagship Haidar Jupiter fund lost 11.5% in October, its third double-digit monthly decline of 2026, according to an investor document. The fall came after a gain of almost 18% in September, driven by fixed income and commodities. The fund is still up 6.3% YTD, but assets were $702m at
Walleye to return $2 billion to clients in stocks trading reset... [more]Walleye Capital told clients it will return about $2bn as it scales back equities trading. That cuts its hedge fund assets to about $10bn, roughly where they stood at the start of the year, while its Dockside separately managed accounts business keeps another $5bn. Head of equities Anil Gondi was le
Asia hedge fund Aspex took a 16% hit in October... [more]Hong Kong-based Aspex Management, which runs about $14bn in pan-Asian equities, lost roughly 16% in October in an AI-led selloff. The selloff hit the Nasdaq, Taiwan, Korea's KOSPI and China's Star 50, though Aspex remains up about 9% for the year. Goldman Sachs data showed Asia was the worst-perform
Hedge fund Taula Capital doubled pay to GBP959k per head last year (on average)... [more]Diego Megia's macro hedge fund Taula Capital nearly doubled average employee compensation to GBP959k in 2025. For the year to December 2025, revenues reached GBP92.3m and profits GBP4.8m, while average headcount rose by 19 to 73. Megia, a former Millennium portfolio manager, founded Taula in 2023 an
CEO says number of hedge funds in liquidation highest since 2009... [more]An unnamed financial services company CEO told economic journalist Charles Gasparino that the number of hedge funds being liquidated has reached its highest level since 2009, as a technology-stock selloff fueled speculation that one or more funds were under strain.Gasparino shared the CEO's assessme
Hermes Birkin bags become investment assets as luxury fund delivers 24% return... [more]Luxus, a New York-based firm founded in 2021 by former Blackstone executive Dana Auslander, returned nearly 24% on a $1m fund that flipped Hermès handbags. Over 15 months it sold 52 of the 56 Birkin and Kelly bags it bought, a period in which Hermès shares fell more than 33%. The fund buys from Ja
Hedge fund boss Platt sues top tax KC after HMRC defeat... [more]BlueCrest founder Michael Platt and his firm have brought a professional negligence claim against Malcolm Gammie KC of One Essex Court, who represented them in their dispute with HMRC over the tax treatment of BlueCrest's senior traders. The roughly GBP32m claim alleges the barrister failed to set o
John Paulson sells $373m of Piraeus Bank shares... [more]Paulson & Co sold a block of 35m Piraeus Bank shares, 2.83% of the bank, through JP Morgan at EUR9.51 per share, the bottom of the EUR9.51-9.68 range, raising about EUR332.8m. Counting smaller sales below the 3% disclosure threshold since late 2025, Paulson has sold about 71m shares this year, cutti
Jeff Bezos says fear of regret at 80 made him quit Wall Street and start Amazon... [more]Bezos used a "regret minimization framework" to decide whether to leave a lucrative job at a New York hedge fund to sell books online. Projecting himself forward to age 80, he concluded he would not regret failing but might regret never trying. He wrote a roughly 30-page business plan on the drive f
And, finally: Finished for the day!... [more]From Newsoftheweird: An ambulance driver is accused of abandoning a patient en route to a hospital in Cleveland, Ohio, on the evening of Oct. 28, WOIO reported. The driver was transporting a female patient with chest pain to the Cleveland Clinic, got lost and reportedly told her he was finished driv
In an era of deepfakes, phantom fortunes, and narrative warfare, the challenge of distinguishing reality from illusion has never been more acute. For those stewarding generational wealth, the stakes are existential. This 11th edition of Horizons delves into the critical quest for clarity, offering a toolkit to navigate a world rife with deception and to build a foundation of verifiable trust.
Our journey begins with a chilling investigation into
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