Hedge Fund Investor Match Making Event Turns Bearish At The Breakers

From Reuters

Hedge funds are starting the year off negative.

Professional money managers gathered at an elite Morgan Stanley investment conference in Palm Beach, Florida this week expressed a range of pessimistic market views, including so-called bearish takes on the energy sector, China, and stocks such as Valeant Pharmaceuticals and SolarCity.

the breakers

Paul Tudor Jones, the billionaire head of hedge fund firm Tudor Investment Corp, said during a panel discussion that he is negative on commodities, including crude oil, according to people who heard the remarks.

Jones, whose firm invests based on macroeconomic trends, believes that commodity prices will stay low because they are in a long-term, cyclical downturn.

Separately, Dmitry Balyasny of Balyasny Asset Management said during a conference session that his $12 billion stock-focused firm has a negative view of energy company equities, according to a person who heard the remarks. The sector has been hurt amid declining oil and gas prices.

The hedge fund and investor matchmaking event, held annually at the upscale Breakers Palm Beach hotel, is private and closed to the press. Spokesmen for Tudor and Balyasny declined to comment…….

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