PBHFA's JANUARY 2023 MISSIVE

Neal Berger Earns Big Betting "Wackadoodle" High Prices Will Plunge From Bloomberg A veteran trader’s well-timed bet on the end of easy money has achieved triple-digit returns in his new hedge fund’s first full year.   After running Eagle’s View Capital Management as a fund of funds for 16 years, New York-based founder Neal Berger decided to add his own fund to the mix. The Contrarian Macro Fund launched initially with partner capital in April 2021 to load up on bets that the Federal Reserve would unwind a decade of stimulus — even as policy makers were describing inflation as “transitory.”  By the time the Fed reversed course, Berger was starting to accept external money.  “The reason why I started the fund was that central bank flows were going to change 180 degrees. That key difference would be a headwind on all asset prices,” said Berger. “One had to believe that the prices we saw were, to use the academic term, wackadoodle.”... Read the rest in Bloomberg

Several webinar & live deal making social dates remain open for sponsorship this season. Partnership Inquiries Contact:: Genevieve Anderson email by clicking above or call anytime! 561.349.7300

PBHFA NEWS

Members Are Invited To Kick Off 2023 In Style! We are thrilled to welcome our members to a very special luxury Deal Making Social on January 19th 6-9 PM as we celebrate the start 2023 in the finest style! You can expect an incredible evening of pure luxury, exotic cars, deal-making, friendship-forging, reuniting, and the finest food/drink courtesy of our generous partners, Grassi Associates & The Center For Wealth Preservation. Held at the luxurious & very exclusive Maxwell's Plum in Wellington, the evening promises to kick off 2023 in grand style! We look forward to welcoming you to this amazing event! Do not hesitate to contact us should you wish to join the PBHFA to attend this and our other Deal Making Socials!

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Victor Niederhoffer, Steve Wisdom,David Goodboy pondering the optimal trade prior to the 1999 market meltdown Get Ready For The Richcession Well-off Americans could get hurt more than usual in the next downturn From The Wall Street Journal With the important caveat that they were starting off from much higher bases, percentage gains for the rich have been more muted. Household net worth for the top fifth was 22% higher in the third quarter than before the pandemic, and was down 7.1% from the end of 2021—a consequence of the falling stock market. Paychecks haven’t risen as much, either, with the Atlanta Fed measure showing average annualized monthly wage growth for workers in the top quartile was 4.8%. Recent layoffs have also inordinately affected higher-income workers. Many of the tech companies that have made headlines with layoff announcements pay extremely well. Securities filings show that the median worker at Facebook parent Meta Platforms made $295,785 in 2021, for example, while the average worker at Twitter made $232,626. And layoffs at those places where the typical worker is less well paid, such as Amazon.com, have largely been aimed at white-collar workers... Check out the rest in the Wall Street Journal

Palm Beacher Ken Griffin Gives $8 Million To Cox Science Center From Palm Beach Daily News A year after launching a $40 million capital campaign to fund a large-scale expansion of the Cox Science Center and Aquarium, campaign leadership announced Thursday that it plans to double that goal. An $8 million gift from hedge fund manager Ken Griffin coupled with a $10 million award from the state of Florida last summer has pushed the campaign goal to $85 million, Cox Science Center Board Chairman Lew Crampton said. In November 2021, Cox Science Center and Aquarium announced its initial capital campaign and a $5 million endowment initiative. The center changed its name to reflect a $20 million lead gift from Palm Beach residents Wendy and Howard Cox... Read the rest in the Palm Beach Daily News

SAVE THE DATE Members, Join Us On February 7th at The Colony!! SAVE THE DATE! Join the MFA & PBHFA at Palm Beach's iconic Colony Hotel for a deep dive into what to expect in 2023 followed by our popular Deal Making social with open bars & fine food. Due to the nature of this exclusive event it strictly members only and by RSVP. Members, stay tuned for your personal invite very soon!

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Do Good With PBHFA's Gear For Good! After receiving multiple requests for PBHFA.org gear, we decided to offer a selection of merchandise. PBHFA’s Gear For Good includes a limited selection of hats, sweatshirts, polos, & t-shirts as the initial offerings for our members and supporters. The selection will be updated and changed every few months to keep things fresh. We are open to your suggestions as to the style of gear you want us to carry! We decided to make this a worthwhile endeavor by donating 100% of the profits to a carefully curated selection of Palm Beach & South Florida charities.  Check out PBHFA's Gear For Good Here!

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