Monthly Archives: February 2021
JPMorgan’s Wall Street chief gives his call for the stock market, SPACs, fintech and CEO succession
(CNBC) If anybody on Wall Street is due a victory lap, it’s Daniel Pinto. The head of JPMorgan Chase’s massive corporate and investment bank is fresh off a year for the record books: Pinto’s business produced $49.3 billion in revenue […]
SEC Charges Former Minneapolis-Area Investment Adviser with Fraud for Misappropriating Client Funds
(HedgeCo.Net) The Securities and Exchange Commission charged former Minneapolis-area investment adviser Isaiah L. Goodman for allegedly defrauding his advisory clients out of approximately $2.25 million. According to the SEC’s complaint, from at least September 2018 to November 2020, Goodman, doing […]
Bitcoin soars above $48,000 to new record after Tesla’s $1.5 billion investment
(CNBC) Kate Rooney breaks down bitcoin’s surge past $48,000 after Tesla’s investment. Plus, CNBC’s Ylan Mui explains how some states and cities are sending their own stimulus checks as lawmakers in Washington continue to tweak a new Covid relief package. […]
Robinhood lobbying targets legislation that could hurt its business model
(CNBC) Robinhood is preparing a lobbying effort on key pieces of legislation that if passed, could weigh on its business model. The stock trading start-up registered its in-house team to begin lobbying on Feb. 5, according to a new registration […]
Premier Holding Corp. and Its CEO Ordered to Pay More Than $10 Million for Securities Fraud
(HedgeCo.Net ) United States District Judge Cormac J. Carney of the Central District of California has entered final judgments against microcap issuer Premier Holding Corp. and its CEO, Randall Letcavage, in connection with a fraudulent scheme to mislead Premier’s investors […]
CTAs return up 7.21% in 2020
(Opalesque) CTAs were tested under market stress in 2020, and were found wanting by some investors, said Preqin. “The relationship between market stress and volatility is a complicated one. CTAs are generally included in portfolios because of their low correlation […]
Event driven managers fuel hedge funds’ January gains, as industry withstands GameStop pressure
(Hedgeweek) Event driven managers, particularly those running merger arbitrage and special situations strategies, powered hedge funds’ performance in January, as the industry overcame retail investor-driven stock volatility to finish the month in the black. New data released by Hedge Fund […]
Goldman Sachs boosts U.S. GDP estimate, sees COVID relief at $1.5 trillion
(Reuters) Economists at Goldman Sachs Group Inc on Monday bumped their U.S. GDP forecast for the second quarter up to 11% from 10% and said additional fiscal measures are likely to be valued at $1.5 trillion, up from their previous […]
KKR beats estimates with 15% rise in fourth-quarter earnings
(Reuters) KKR & Co Inc said on Monday its after-tax distributable earnings rose 15% year-on-year in the fourth quarter, driven by growth in management and transaction fees from its capital markets business. KKR’s after-tax distributable earnings (DE) – the cash […]
Tesla buys $1.5 billion in bitcoin, plans to accept it as payment
(CNBC) Tesla announced Monday it has bought $1.5 billion worth of bitcoin. In a filing with the Securities and Exchange Commission, the company said it bought the bitcoin for “more flexibility to further diversify and maximize returns on our cash.” […]
Robinhood sued by family of 20-year-old trader who killed himself after believing he racked up huge losses
(CNBC) Robinhood was sued Monday for wrongful death by the family of Alex Kearns, a 20-year-old customer who took his life last summer after believing he had racked up big losses on the millennial-favored stock trading app. “This case centers […]
SEC Files Fraud and Other Charges in Connection with a Fraudulent Investment Adviser and Private Fund Enterprise
(HedgeCo.Net) The Securities and Exchange Commission has charged Stephen Scott Moleski (a/k/a Steve Scott) and David Michael with fraud in connection with an investment adviser and private fund enterprise they operated. The SEC also charged Moleski, Michael, and their agent, […]
