Monthly Archives: November 2017
How Deutsche Bank’s High-Stakes Gamble Went Wrong
(CNBC) It was the Friday before Christmas and Edson Mitchell, boss of Deutsche Bank’s London-based investment bank, was rushing home to see his family in Maine. By 5pm he was on the home stretch: his private plane had left Portland. […]
Goldman Wants To Become the Google of Wall Street — and It’s Taking a Recruiting Tip from the Tech Giant
(The Business Insider) Goldman Sachs is embracing top students from outside the hallowed halls of the Ivy League. Goldman Sachs chief officer Lloyd Blankfein hosted a fireside chat in September for 250 students during which he outlined the firm’s new […]
Dan Loeb’s Third Point Hedge Fund Bets Even Bigger on Global Growth
(CNBC) Dan Loeb’s Third Point hedge fund revealed several new investments in a filing Thursday, including mall operator Macerich and two Argentina-based financial services companies. Loeb’s fund has roughly doubled the S&P 500 over the last two decades… To read […]
Janus Henderson Fund Inflows Bounce Back as Cost Cutting Continues
(HITC) Janus Henderson has seen a return to net fund inflows in the third quarter, as the investment manager pushed ahead with cost cutting following its merger. The London headquartered, US- and Australia-listed firm drew in net inflows of $700m […]
Wall Street Giant Virtu Cut Staff by Half and Laid In to a $1.4bn Acquisition —
(The Business Insider) The writing was on the wall from the beginning. When Virtu Financial — which had grown to become one of the largest high-speed trading firms in less than a decade — acquired rival KCG in July, there […]
Donald Trump and Lloyd Blankfein have a lot in common, Gary Cohn Says
(HITC) President Trump and Goldman Sachs CEO Lloyd Blankfein “are both driven by the mission and feel like they need to get the mission accomplished,” Cohn says. To read this article:
A Most Unusual Cycle – The Shrinking of the High-Yield Market
(Harvest) Along with many asset classes, so-called “junk” bonds are experiencing a year of unparalleled tranquility. Indeed, the Bank of America U.S. High Yield Index is trading in the tightest spread range of the past 20 years, with a high-to-low […]
Potential Growth Opportunities in Healthcare
(Harvest) Healthcare legislative headlines have shifted the focus from fundamentals to politics. However, we believe the fundamentals are likely to outlast short-term legislative uncertainties. Healthcare valuations currently look relatively cheap while underlying fundamentals appear strong. We highlight the biotech and […]
The Role of Strategy Distinctiveness in Hedge Fund Performance
(Opalesque) This paper proposes a new measure of strategy distinctiveness for hedge funds, termed the Dispersion Contribution Index (DCI). This measure is based on a fund’s return-distance from the mean return of same-style funds. We find that funds with more […]
The Feds Are Investigating Billionaire Carl Icahn’s Role Advising the Trump Administration
(The Business Insider) Carl Icahn could be in hot water with federal investigators…Back in August, Carl Icahn quit his role advising President Donald Trump’s administration biofuel policy that would benefit his investments…..Now, the feds are investigating Icahn’s informal advisory role […]
Hedge Funds ‘Call the Shots’ on Pandora
(Bloomberg) For the past six quarters of earnings, Pandora A/S has delivered on market expectations. The shares often start higher on the good news. But at some point, hedge funds inevitably step in, and the selloff starts. On Tuesday, it […]
Distressed Debt Funds Turn Activist to Rescue US Energy Bets
(Reuters) Distressed debt investors in U.S. oil and gas companies are turning into activist shareholders and pushing for more deals in the sector to boost the value of energy holdings they snapped up during the oil market slump. Hedge funds, […]