Monthly Archives: August 2021
SEC Charges CEO With Defrauding Investors
(HedgeCo.Net) The Securities and Exchange Commission has announced securities fraud charges against recidivist Michael Shustek, the CEO of several Las Vegas investment trusts (REITs), and his wholly owned investment advisory firm, Vestin Mortgage LLC. The complaint alleges that since at […]
Wall St Week Ahead Earnings bounce, bond-yield drop help keep party going for U.S. stocks
(Reuters) A rebound in corporate profits and the recent drop in bond yields are helping to moderate U.S. equity valuations, bolstering the case for owning stocks even as markets stand near records and economic growth is expected to slow. To […]
U.S. equity funds see big inflows on earnings optimism – Lipper
(Reuters) U.S. equity funds saw strong inflows in the week to July 28, bolstered by optimism over earnings and hopes for a faster economic recovery from the COVID-19 pandemic. U.S. equity funds attracted a net $8.03 billion, the biggest inflow […]
HSBC’s half-year reported pre-tax profit more than doubles to $10.8 billion
(CNBC) HSBC said Monday its reported pre-tax profit jumped to $10.8 billion in the first half of 2021 — beating estimates by analysts. The bank’s revenue fell 4% from a year ago to $25.6 billion in the first half of […]
July jobs report could be what gives the market its next big jolt in the week ahead
(CNBC) Friday’s jobs report could be a catalyst that helps determine whether markets are volatile or will trade like it’s the quiet dog days of August. More than a quarter of the S&P 500 report earnings in the coming week. […]
Dow futures rise more than 100 points ahead of the first trading day of August
(CNBC) U.S. stock futures rose in overnight trading on Sunday as investors geared up for the first trading day of August. Dow futures rose 135 points. S&P 500 futures gained 0.4% and Nasdaq 100 futures added 0.35%. To read this […]
Delta variant surge will crush reopening stocks, longtime market bear David Rosenberg suggests
(CNBC) Investors may want to start August by lightening up on the reopening trades. Longtime market bear David Rosenberg warns surging Covid-19 delta variant cases paired with the culmination of fiscal stimulus will crush stocks tied to the economic recovery. […]
Billionaire Steve Cohen enters talks to buy New York Mets:
(Reuters) Billionaire hedge fund manager Steve Cohen has entered exclusive negotiations to buy the New York Mets. Cohen fended off a bid from a consortium led by Alex Rodriguez and singer-producer Jennifer Lopez. To read this article:
SEC Charges Ponzi Scheme Targeting African Immigrants
(HedgeCo.Net) The Securities and Exchange Commission has charged two Maryland companies and their principals for a scheme that allegedly defrauded approximately 1,200 investors, many of them African immigrants, of more than $27 million. According to the SEC’s complaint, Dennis Jali, […]
Ackman sees more gains for his portfolio, urges stock ownership for all Americans
(Reuters) Billionaire hedge fund manager William Ackman touted the success of his funds late last week, citing attractive valuations for his holdings and saying he has up to $7 billion to invest in a private company, while saying that opening […]
Emerging markets hedge funds surge as equities gain through global pandemic
(Hedgeweek) Emerging Markets and Asian hedge funds surged in Q2 2020, recovering from steep losses experienced in late 1Q, with many indices posting gains for YTD 2020 through July. To read this article:
SEC Commission to vote on changes to the Wall Street whistleblower law on 2 September
(Hedgeweek) The US Securities and Exchange Commission (SEC) will meet at 9am on 2 September, 2020 to vote on proposed changes to the SEC’s highly successful Dodd-Frank Act whistleblower reward program. To read this article: