Hedge Fund PointState Stops Clients From Cashing Out in Full (Bloomberg) PointState Capital, the macro hedge fund started by former traders for billionaire Stan Druckenmiller, is blocking investors who ask to pull their money out from getting their cash back in full. Clients who withdrew their investments at the end of last year will get 88% back in cash, according to a letter to investors seen by Bloomberg. The remaining 12% will be distributed as shares in new vehicles created to hold assets with “somewhat limited liquidity” that could take time to sell. Redemptions on March 31 or later may be subject to similar terms, the letter states.
another reason stocks will go much much higher - so much money out there they are scared of stocks, but can't get any return from bonds, so they chase alternatives hedgies and PEs and then get totally disappointed, then they see SP return 30% a year. guess what the sheep do after experiencing all this.
%% Good idea; panic seller$ neVer Win..................................................................................