Monthly Archives: January 2021
Investment earnings generate 71% of public pension revenue
(Opalesque) For the fiscal year 2020, earnings on investments accounted for 71% of public retirement system revenues, according to a survey. The share of revenues that comes from investment earnings edged up from 69 percent a year earlier, while the […]
Fourth quarter GDP to show businesses spent, but consumers held back
(CNBC) The economy continued to chug along in the fourth quarter, boosted by a surge in business spending while consumers held back. Fourth-quarter gross domestic product is reported at 8:30 a.m. ET Thursday. It’s expected to show the economy grew […]
CFTC Charges New York Man in Multi-Million Dollar Digital Asset Ponzi Scheme Involving Bitcoin and Ether
(HedgeCo.Net) The Commodity Futures Trading Commission has filed a federal civil enforcement action in the U.S. District Court for the Southern District of New York charging Jeremy Spence of New York, with fraud for operating a Ponzi scheme involving digital assets such as […]
The year of the hedge fund”: Stock market surge drives industry success, as largest managers dominate
(Hedgeweek) The world’s 20 biggest hedge fund firms took home around half of all gains made by the entire industry last year, as successful stock-picking and individual manager skill sent returns soaring among the sector’s behemoths, leaving quant-based strategies in […]
Apple overtakes Amazon to become world’s most valuable brand, while Tesla is the fastest-growing
(Marketwatch) Apple has overtaken Amazon to become the world’s most valuable brand for the first time in five years, according to a global report. The value of the technology giant’s brand has climbed 87% in the past year to $263.4 […]
Allstate to sell most of its life insurance business to Blackstone for $2.8 billion.
(Reuters) The deal comes as global life insurers are taking steps to curb payouts stemming from the COVID-19 pandemic, including long-term health consequences that are not fully understood. In the United States, 8% of reported group life insurance claims from […]
Goldman Sachs CEO Solomon’s annual pay drops 36%
(Reuters) Goldman Sachs Chief Executive David Solomon’s annual pay fell by $10 million, or 36%, in 2020, according to regulatory disclosures filed on Tuesday. To read this article:
Who needs to sit next to a trader? Asset managers embrace outsourcing
(Reuters) More pension funds, insurers and asset managers are outsourcing part or all of their dealing desks to specialist traders as they seek to cut costs and adapt their operations to deal with the coronavirus crisis, industry sources say. To […]
Fed will need to reassure the market it’s not thinking about dialing back its support
(CNBC) Federal Reserve Chairman Jerome Powell has a few nerves to quell among market participants wondering when the central bank will start tapping the brakes on all the help it’s been providing. To read this article:
Alphabet and Facebook rise after Microsoft reports surprisingly strong advertising revenue
(CNBC) Shares of Alphabet, Facebook and other advertising-driven internet companies gained in extended trading on Tuesday after Microsoft’s earnings report showed that its advertising businesses did better than expected. To read this article:
Former Investment Adviser Charged for Repeatedly Defrauding and Breaching His Fiduciary Duty to Advisory Clients.
(HedgeCo.Net) The Securities and Exchange Commission has announced charges against Jacob C. Glick of Scottsdale, Arizona, a former investment adviser representative associated with Advanced Practice Advisors, LLC (APA), for repeatedly defrauding and breaching his fiduciary duty to advisory clients. The […]
Apollo Global CEO Leon Black paid sex predator Jeffrey Epstein $158 million for financial advice after conviction
(CNBC) Apollo Global Management CEO Leon Black paid child sex predator Jeffrey Epstein $158 million for financial advice from 2012 through 2017, despite knowing Epstein pleaded guilty to paying an underage girl for sexual services in 2008, a probe by […]