Monthly Archives: February 2021
Are we in a bubble? How founder of world’s largest hedge fund says 2021 stock market stacks up
(Marketwatch) The stock market is feeling awfully frothy to some investors lately, a fact that has helped to weigh on the market’s bullish sentiment in the past week or so, but a report by Ray Dalio implies that equities aren’t […]
Square buys $170 million worth of bitcoin
(CNBC) Square bought $170 million worth of bitcoin, the company revealed in its fiscal fourth-quarter financial report Tuesday. The company said it purchased approximately 3,318 bitcoins, expanding on its October 2020 buy of 4,709. Square said it represents about 5% […]
AT&T nears deal with TPG to sell large minority stake in DirecTV, U-verse at $15 billion valuation
(CNBC) AT&T is nearing a deal to sell a substantial minority stake in its DirecTV, AT&T TV Now and U-Verse business to private equity firm TPG, according to people familiar with the matter. To read this article:
Dow reverses a 360-point loss and ends day higher after Powell eases inflation fears
(CNBC) The Dow Jones Industrial Average bounced back from steep losses and closed the session in the green on Tuesday after Federal Reserve Chair Jerome Powell relieved some of the concerns about higher interest rates and inflation. To read this […]
High-profile hedge funds still circling Tullow Oil, as debt-laden driller mounts fightback
(Hedgeweek) A number of well-known hedge fund short sellers continue to target London-listed oil and gas company Tullow Oil, as the beleaguered exploration firm looks to overhaul its business model and improve its balance sheet position. To read this article:
Final Judgment Handed Down Against Connecticut Investment Adviser Who Misappropriated Funds from Clients
(HedgeCo.Net) The Securities and Exchange Commission has announced the entry of a final judgment against former Connecticut investment adviser James T. Booth. The SEC complaint, filed on September 30, 2019, alleges that Booth operated a multi-million dollar Ponzi scheme that bilked […]
The market is getting nervous about Powell’s testimony this week
(CNBC) Rising bond yields and accompanying inflation fears are adding a level of drama to Federal Reserve Chairman Jerome Powell’s appearance this week before Congress. The central bank chair is slated to address Senate and House panels on successive days […]
Yellen sounds warning about ‘extremely inefficient’ bitcoin
(CNBC) Treasury Secretary Janet Yellen issued a warning Monday about the dangers that bitcoin poses both to investors and the public. Despite a sharp slide in price to start the week, the cryptocurrency continues to trade above $53,000 as it […]
SoftBank would buy about 25% of Adam Neumann’s stake in WeWork for $480 million under proposed settlement
(CNBC) WeWork co-founder Adam Neumann and SoftBank are nearing a settlement agreement that would entitle the former CEO to a payout of $480 million for approximately 25% of his shares in the company, a person familiar with the matter told […]
Hedge funds that hunkered down after GameStop are now missing out on market gains
(CNBC) Hedge funds are still licking their wounds after a retail trading frenzy forced the industry to slash its overall exposure to stocks, leading to an underperformance in 2021. To read this article:
Market neutral long-short to remain under pressure, says Lyxor Research
(Hedgeweek) In recent months, Market Neutral L/S strategies underperformed other hedge fund strategies, in a context where risk assets rallied following the Pfizer vaccine announcement in November 2020. To read this article:
Man GLG’s Flamand urges market neutral tilt as inflation risk looms amid equities “euphoria”
(Hedgeweek) Inflation is the next big risk facing the nascent economic recovery, and equity investors should be “exceptionally selective” in their exposures, tilting portfolios towards market neutral strategies that will help avoid excessive beta risk, says Man Group’s Pierre-Henri Flamand. […]