Zero Hedge — While Gundlach Was Warning That "Equities Are In A Bear Market" 2 Weeks Ago, He Was Busy Buying Stocks

"Talking your book."

Zero Hedge
While Gundlach Was Warning That "Equities Are In A Bear Market" 2 Weeks Ago, He Was Busy Buying Stocks

Tyler Durden

Juliet Chung and Carolyn Cui — Hedge Funds Versus Nascent (Communist) Superpower

Some of the biggest names in the hedge-fund industry are piling up bets against China’s currency, setting up a showdown between Wall Street and the leaders of the world’s second-largest economy.

Kyle Bass’s Hayman Capital Management has sold off the bulk of its investments in stocks, commodities and bonds so it can focus on shorting Asian currencies, including the yuan and the Hong Kong dollar.

It is the biggest concentrated wager that the Dallas-based firm has made since its profitable bet years ago against the U.S. housing market. About 85% of Hayman Capital’s portfolio is now invested in trades that are expected to pay off if the yuan and Hong Kong dollar depreciate over the next three years—a bet with billions of dollars on the line, including borrowed money.… 

Across the Curve
Hedge Funds Versus Nascent (Communist) Superpower
Via the WSJ:
By Juliet Chung and Carolyn Cui

Zero Hedge — Soros Best In 2013, Tops Dalio With Massive $40 Billion Lifetime Gain

Size matters, it would seem, in the world of elite hedge fund managers. George Soros' Quantum Fund had its 2nd-best year on record, adding $5.5bn (22%) to the pound-breaking billionaire's horde and has now shifted above Ray Dalio's Bridgewater fund as the most successful hedge fund of all time. As The FT reports, since inception in 1973, Quantum has generated almost $40bn. Four other funds including Tepper's Appaloosa, Mandel's Lone Pine, and Klarman's Baupost also made more than $4 bn for their investors. Since they were set up, the top 20 hedge funds have made 43 per cent of all the money made by investors in more than 7,000 hedge funds.

Zero Hedge
Soros Best In 2013, Tops Dalio With Massive $40 Billion Lifetime Gain
Submitted by Tyler Durden

Our skepticism toward David Tepper's ubber bullish call back in January proved correct

Remember when David Tepper was super bullish on the U.S. economy and stock market back in January? He was basically saying that nothing could go wrong, yet we pointed out that we were on the verge of tax increases, sequesters, entitlement reform, debt ceiling turmoil?

We called out Tepper (here and here) on his wildly bullish call and especially made fun of his claim that things were going to be booming because the deficit was shrinking. That was really ignorant.

Tepper was on CNBC this morning and FYI, I didn't listen, however, I did tweet over to the show reminding them to ask him how things were going now that the deficit had shrunk so much.

@SquawkCNBC @TheStalwart @RobinHoodNYC Don't forget to ask him about his super bullish stock market call because the deficit was shrinking.

— Michael Norman (@mikenorman) October 15, 2013

John Aziz — What Could Possibly Go Wrong?

John doesn't mention Tepper, but the profile fits. That's three in agreement, Mike, John, and me. Is Tepper talking his book, or does he know something we don't?

Azizonomics
What Could Possibly Go Wrong?
John Aziz

Big hedge fund manager gets super bullish...now!

Hedge fund manager, David Tepper, appeared on Bloomberg TV earlier today where he gushed with bullish optimism and declared that the U.S. was on the verge of an explosion of greatness.

Greatness for whom, that is the question? Maybe greatness for guys like Tepper, who got off easy with only having to fork over a few extra percent in taxes thanks to the recent fiscal cliff deal. Other than that, Tepper and his hedge fund buddies will be left alone to conduct their billion dollar gambling games in the world's financial markets. So when you're paying more for a gallon of gas and a loaf of bread be sure to remember who to thank.

I find it bizarre that Tepper's so optimistic now, even though we've just seen taxes raised on working people, austerty about to happen in the U.S. and a president who's been freshly installed for a second term with entitlement reform on his agenda. Yet despite all this, Tepper says there basically nothoing to be bearish about.