Monthly Archives: August 2021
JPMorgan, led by bitcoin skeptic Jamie Dimon, quietly unveils access to a half-dozen crypto funds
(CNBC) With little fanfare, JPMorgan Chase has started giving its wealth management clients access to six crypto funds in the past month. On Thursday, financial advisors were allowed to begin placing private bank clients into a new bitcoin fund created […]
Friday’s jobs report is a wild card, with economists’ estimates all over the map
(CNBC) The economy is expected to have added about 845,000 payrolls in July, according to Dow Jones consensus estimate, as America’s workforce gradually rebuilds from its sharp pandemic-induced job losses. But the uncertainty of Covid — spreading again at a […]
Brandywine Global acquires Diamond Hill’s high yield-focused funds and adds portfolio management team
(Opalesque) Brandywine Global Investment Management, LLC, a specialist investment manager and subsidiary of Franklin Resources, Inc. has completed its acquisition of the business of Diamond Hill’s high yield-focused U.S. corporate credit mutual funds. To read this article:
White House backs senators pushing for stricter crypto reporting rules
(CNBC) The White House weighed in – somewhat out of the blue – on a contentious battle over competing crypto amendments to the $1 trillion infrastructure bill. It’s chosen to back the side that isn’t as friendly to the world […]
Cigna sees bigger hit to 2021 earnings from pandemic
(Reuters) Shares of Cigna Corp tumbled 13% after the health insurer warned of a bigger hit to its full-year earnings due to the impact of the pandemic and said it also expects non-COVID costs to trend near normal levels in […]
How AI can help demonstrate hedge funds’ ESG edge to investors
(Hedgeweek) The way in which hedge funds can demonstrate the value of ESG indicators within their portfolios is becoming a key task for managers of all stripes and strategies. A recent webinar, jointly hosted by FIS Global and Hedgeweek ,examined […]
Dow falls 300 points, S&P 500 slips from record high after jobs data disappoints
(CNBC) U.S. stocks fell on Wednesday after the earnings of a major automaker and a private sector jobs report came in lower than expected. The ADP private payroll survey showed a gain of 330,000 jobs for July, well short of […]
Robinhood surges 50% in second day of wild trading, up 100% this week
(CNBC) Robinhood shares soared again Wednesday, extending a wild rally in the newly public stock trading app’s stock. Trading was halted for volatility several times. The stock closed up 50.4% at $70.39 per share, bringing its weekly gain to more […]
Pershing Said to Seek $1 Billion to Fund Universal Music Bet
(Bloomberg) Bill Ackman’s hedge fund Pershing Square Capital Management LP is in discussions to raise $1 billion to help fund its bet on Vivendi SE’s Universal Music Group, according to people with knowledge of the matter. To read this article:
Senators file crypto broker amendment to infrastructure bill after industry backlash
(CNBC) U.S. senators introduced an amendment to the infrastructure bill Wednesday attempting to clear up confusion about cryptocurrency “brokers,” based on language in the existing version that could roil the crypto markets if passed. To read this article:
Hedge fund Alphadyne Asset Management loses $1.5 billion as yields tumbled in July, says report
(MarketWatch) Hedge fund Alphadyne Asset Management is reportedly one of the big losers of a rally in global bonds, as bets that rates would rise have left the $12 billion macro strategy ensnared in money-losing wagers, according to a report from Bloomberg […]
Three Executives and a company charged with Misappropriating Millions of Dollars from Investors Using Phony Escrow Account
(HedgeCo.Net) The United States Securities and Exchange Commission has announced charges against Black Lion Investment Partners, Inc., a Wyoming corporation now based in Georgia, Edward L. Wooten of Macon, Georgia, Lee S. Rose of Deerfield, Illinois, and John L. Krcil […]