Billionaire hedge fund founder Steve Cohen has stepped back from trading after four decades, focusing on mentoring and talent development at his firm, Point72. He will remain co-chief investment officer but will no longer invest clients’ capital. Cohen’s decision comes after his firm achieved record growth and impressive returns.
Elliott Investment Management, a hedge fund managing $70 billion in assets, has acquired enough shares to call a special meeting at Southwest Airlines. This move comes after Elliott’s efforts to influence Southwest’s leadership, including demanding the removal of CEO Robert Jordan and Executive Chairman Gary Kelly. The hedge fund has also criticized Southwest’s recent efforts to improve its image and stock price as being insufficient.
Mark Spitznagel, a veteran hedge fund manager, has issued a stark warning about the current state of the stock market, drawing parallels to the events leading up to the 2008 financial crisis. He believes we are on the cusp of a massive stock market bubble, fueled by years of low interest rates and heightened global interconnectedness. He urges investors to prepare for a potential market downturn, advocating for patience and a focus on basic index funds.
