Monthly Archives: September 2020
The Fed could still move markets Wednesday even with rates on hold for the foreseeable future
(CNBC) While committed to keeping interest rates low for the next several years, the Federal Reserve still has plenty of work to do as it steers the U.S. economy through the coronavirus pandemic. As central bank officials gather Tuesday and […]
JPMorgan CEO says a failure to think long-term is causing governments to make ‘really dumb decisions’
(CNBC) Short-term thinking is causing governments around the world to make “really dumb decisions” on economic policy, according to J.P. Morgan CEO Jamie Dimon. Dimon suggested the U.S. Federal Reserve had succeeded in averting a financial crisis in the wake […]
Market volatility is set to swell after Election Day, Wells Fargo warns
(CNBC) September’s early volatility may be no match for what comes after the presidential election. Wells Fargo Securities’ Michael Schumacher notes volatility is set to jump following the results — not recede. “Normally, you might think that it’s Election Day or […]
$15 Million Judgment Obtained Against Mastermind of Market Manipulation and Unlawful Stock Distribution Scheme
(HedgeCo.Net) The Honorable P. Kevin Castel of the U.S. District Court for the Southern District of New York has entered a default judgment against Francisco Abellan Villena, ordering him to pay $15 million for his role in a fraudulent stock […]
Billionaire investor Steve Cohen finalizes deal to buy New York Mets
(CNBC) Billionaire Steve Cohen reached a deal to buy the New York Mets baseball team on Monday. “I am excited to have reached an agreement with the Wilpon and Katz families to purchase the New York Mets,” Cohen said in […]
Activist hedge funds outshine the competition, as larger managers trail the rest of the industry
(Hedgeweek) Activist-focused managers comfortably outperformed other strategy types last month, as the hedge fund industry continues to recover from the Covid-19 turmoil with solid August gains and positive year-to-date returns, new eVestment data shows. To read this article:
Hedge funds up 1.74 per cent in August, says SS&C GlobeOp
(Hedgeweek) The gross return of the SS&C GlobeOp Hedge Fund Performance Index for August 2020 measured 1.74 per cent. To read this article:
AEA, Bridges partner for $400 million blank-check company
(Reuters) Investment firms AEA Investors LP and Bridges Fund Management Ltd plan to raise $400 million in an initial public offering for a new blank-check acquisition company with a focus on socially responsible investing, according to people familiar with the […]
Dow jumps more than 300 points, Nasdaq rebounds nearly 2% from worst week since March
(CNBC) Stocks rose on Monday as a slew of corporate dealmaking activity and optimism toward a coronavirus vaccine sparked a broad market rally. The Dow Jones Industrial Average gained 327.69 points, or 1.2%, to 27,993.33. The S&P 500 climbed 1.3%, […]
Goldman Sachs is taking what it learned from a $100 million acquisition to upgrade the Marcus app
(CNBC) Goldman Sachs is one step closer to creating what it calls the digital bank of the future. The bank has just released the first version of a personal finance management tool that gives customers of its Marcus retail brand […]
GM conducted ‘appropriate diligence’ on $2 billion Nikola deal, CEO Mary Barra says
(CNBC) General Motors conducted “appropriate diligence” regarding a $2 billion deal with electric vehicle start-up Nikola, GM CEO Mary Barra said Monday. Barra’s comments are a response to increased scrutiny of Nikola following fraud claims made last week by short-selling […]
Victims of New York Ponzi Scheme Recover Over $1 Billion
(HedgeCo.Net) The Commodity Futures Trading Commission has announced that, pursuant an order entered on Monday, August 24, 2020 by the U.S. District Court for the Southern District of New York, the court-appointed receiver has completed a final distribution to victims […]
