Citadel churned ahead in a painful month for hedge funds. Ken Griffin’s $77 billion hedge fund gained 1.7% last month, a person close to the Miami-based manager said, pulling its year-to-date gains to 15.3%. That figure so far leads the way among its multistrategy peers, which are known for their ability to manage choppy markets
One Los Angeles restaurant group traded $60,000 on Kalshi to hedge against the Dodgers’ abbreviated playoff run, and it’s just one example of how prediction markets are transforming how companies, particularly small businesses, are calculating and responding to risks. Kalshi told Fortune that the hospitality group, which was unnamed but operates 25 bars, including several
The data is getting worse. A third of investors who buy data say its quality has deteriorated over the past couple of years, according to a survey by consultancy Neudata, and some pin the blame on artificial intelligence. Data is the lifeblood of any investing business, and hedge funds have relied on so-called alternative data
Forget Greece — Brevan Howard’s latest real-estate digs will be in an old-school hedge fund hot spot. The $35 billion manager is adding an office in Greenwich, the leafy Connecticut suburb long known for its concentration of hedge funds, early next year, a person close to Brevan told Business Insider. It will be the European-based
Michael Burry has turned from water to wine. The star of “The Big Short,” who made waves for investing in water after calling the collapse of the mid-2000s US housing bubble, explained why he’s betting on fine wines in a Substack post on Thursday. Burry, who pivoted from running a hedge fund to writing about
Multistrategy hedge funds’ returns were muted in August, though managers likely appreciated a quieter month after a turbulent July. Izzy Englander’s Millennium Management was flat in August, a person close to the manager told Business Insider, putting the firm’s 2026 gains at 8.2%. Balyasny lost 0.7% last month, according to a source familiar with the
