Were These Hedge Funds Wrong About Piling Into Invitation Homes Inc. (INVH)?

While the market driven by short-term sentiment influenced by the accomodative interest rate environment in the US, virus news and stimulus talks, many smart money investors are starting to get cautious towards the current bull run since March and hedging or reducing many of their long positions. Some fund managers are betting on Dow hitting 30,000 to generate strong returns. However, as we know, big investors usually buy stocks with strong fundamentals that can deliver gains both in bull and bear markets, which is why we believe we can profit from imitating them. In this article, we are going to take a look at the smart money sentiment surrounding Invitation Homes Inc. (NYSE:INVH).

Is Invitation Homes Inc. (NYSE:INVH) going to take off soon? Money managers were turning bullish. The number of bullish hedge fund bets advanced by 6 in recent months. Invitation Homes Inc. (NYSE:INVH) was in 33 hedge funds’

Read More

Hedge Fund Magnate Is Moving His $41 Billion Firm From N.Y. to Florida

While its New York office will remain open, Elliott is also setting up a new office in Greenwich, Conn., the wealthy enclave northeast of the city. The new offices in Florida and Connecticut are expected to open before next July, the earliest date its employees could return to the office, the person said.

“It’s certainly not a positive signal,” said E.J. McMahon, an adjunct fellow at the Manhattan Institute, a conservative think tank that Mr. Singer has chaired since 2008. Mr. McMahon described the city’s tax base as “enormous but also fragile.”

For wealthy taxpayers, moving to Florida can provide a significant windfall.

Unlike New York State, Florida has no individual income tax, estate tax or capital gains tax, which the state has promoted in a concerted effort to recruit financial firms from New York.

Still, Ben Friedland, a New York real estate broker who specializes in hedge funds and

Read More

Paul Singer’s $41 Billion Hedge Fund Moving Headquarters to Florida

(Bloomberg) — Florida is luring its biggest name yet in hedge funds: Paul Singer’s Elliott Management Corp.


Load Error

The $41 billion firm plans to move its headquarters to West Palm Beach from Midtown Manhattan, according to people familiar with the matter, joining a growing list of funds that have relocated to the Sunshine State.

With no individual income taxes, estate taxes or capital gains taxes, Florida has become a hot destination for hedge funds in recent years. The Covid-19 pandemic has accelerated that shift away from New York, the initial epicenter of the U.S. outbreak.

Singer’s co-chief investment officer and expected successor, Jon Pollock, owns a home near West Palm Beach and has been living there during the pandemic, said the people, who asked not to be identified because the information is private. The now-permanent move by Pollock, as well as several other senior employees, played a big role

Read More