Bridgewater flagship fund fell 20%?Dario once said that cash is junk and should be diversified investment

Bridgewater flagship fund fell 20%?Dario once said that cash is junk and should be diversified investment
In the past month, the risky assets have plummeted, the stock markets of many countries have melted down, and US stocks have melted down three times in a month.In this context, Qiaoshui bets $ 14 billion to short the European and American stock markets.On the front end, Bridgewater founder Dario said on Monday that the Fed’s decision to return interest rates to almost zero put the market in a more reasonable state.However, sometimes, the Bridgewater flagship fund has fallen by about 20% this year.On March 17, Bridgewater, the world ‘s largest hedge fund affiliated with Dario, had established a short position of US $ 14 billion, betting that European companies ‘stocks would turn into a deterioration of the new coronavirus epidemic and continue to plummet.Among bridge short companies, there are at most 16 in France with 52 positions.400 million US dollars; followed by Germany with 12 positions 48.800 million US dollars; the Netherlands and Spain each have 5 positions of 17, respectively.200 million US dollars and 1.100 million US dollars; 3 in Italy with 8 positions.$ 5.5 billion.These countries are all serious European countries.According to Bloomberg data, from March 9 to 12, Bridgewater had a short position of US $ 1 billion in the German software giant SAP and 7 in the British semiconductor equipment manufacturer ASML.Short position of 1.5 billion US dollars.But the above bets are not enough to protect the company ‘s main hedge fund from breaking through huge losses.Qiaoshui’s Pure Alpha Fund II fell by about 13% during the 12th end of the month, and this year it has gradually declined by about 20%.Pure Alpha funds use traditional hedge fund strategies to actively trade the direction of different assets, including stocks, bonds, commodities, currencies, and forecast macro trends.During the financial crisis, pure Alpha strategy funds rose 10% and became famous.People familiar with the matter said the expectations were mainly due to long positions in the stock market and short positions in the national debt.There are also analyses that the main reason is that the logic of gold, stocks, bonds, and commodities has caused an amazing reversal in the fermentation of the epidemic.The risk parity fund widely used by Wall Street, which was popular by Bridgewater, has also fallen sharply since 3 months.In the early years, the trend of rising stocks and bonds led to considerable gains in the risk parity strategy, but 2020 was the most tragic year for the strategy since 2008. The S & P 500 risk parity index plunged 10% in 5 trading days last week.At present, the VIX (panic index) is still as high as 82. The VIX index has increased by more than 400% in the past 4 weeks, leading to hedging and risky assets being sold synchronously.In fact, Bridgewater made a similar bet on European companies in 2018. The short-seller sells the borrowed securities, buys them back at the price, and converts them into margins as profits.A representative of the company said: “Although we will not comment on our specific positions, Qiaoshui trades in more than 150 markets around the world, so there are many interrelated positions, usually hedging other positions, and these often change.Therefore, it is not correct to consider any position at any time and try to determine an overall strategy.On the front end, Bridgewater founder Dario said on Monday that the Fed’s decision to return interest rates to almost zero put the market in a more reasonable state.He weighed on LinkedIn: “Long-term interest rates falling to the lowest level of 0% means that almost all asset classes will be reduced, because the positive impact of interest rate cuts will no longer exist, at least the impact has been greatly reduced.Touching the 0% lower limit also means that almost all long-term interest rate stimulus instruments (including interest rate cuts and yield curve indicators) of reserve countries will be invalidated.”He said that fiscal and monetary policy makers should focus on helping industries that are struggling to pay their debts due to economic shocks.”He also said that US lawmakers must take targeted measures, such as providing loan protection to the government, and ensuring the safety of the banks that provide these loans.Last time, the Fed lowered interest rates by 0-0.The 25% range was in December 2008, and since that year, three large-scale quantitative easing policies have been implemented to buy bonds to reduce the financial crisis.At the end of January, Dalio stated that he suggested holding a global and diversified investment portfolio, “cash is rubbish,” he said, “cash.”(In the market) There is still a lot of cash.”He believes that investors should not miss the current market strength, but should use cash as a diversified portfolio.At the same time, Dario also believes that there will be no economic growth this year, and investors should turn their attention to the 2020 US presidential election.Sauna, Ye Wang Zhang Shuxin editor Chen Li proofreading Li Shihui

Tiankang Bio’s hog sales in March increased by more than 90%

On April 7, Tiankang Biological Co., Ltd. (referred to as “Tiankang Biological”) released the pig sales report for March 2020.From January to March 2020, Tiankang Biological has accumulated 15 live pigs.470,000 heads, down 26 before.58%; gradually realize sales revenue 5.100 million yuan, an annual increase of 169.84%.The briefing shows that in March 2020, Tiankang Biological sold hog6.650,000 heads, an increase of 94 from the previous month.44%, down 11 every year.1%; achieve sales revenue 2.3.8 billion, an increase of 131.07%, an annual increase of 209.09%.Sauna and Yewang noticed that this is the first time that Tiankang Bio’s live pig sales and sales revenue have increased in the previous quarter in 2020.Tiankang Bio pointed out that the month-on-month growth of sales data in March was mainly due to the introduction of new coronary pneumonia epidemic situation stabilized, the flow of personnel was liberalized, retail, catering and other industries resumed business, pork consumption gradually improved, and live pig sales rebounded significantly.The initial increase in sales revenue each year is the rising price of the hog market.In March 2020, after excluding piglets and breeding pigs, the average sales price of Tiankang Biological Commodity Pigs has reached 31.05 yuan / kg, with an average weight of 131.04 kg.Sauna, Ye Wang Wang Siyang editor Li Yan proofreading Li Ming