Monthly Archives: June 2021
SEC Charges Additional Defendants in $30 Million ICO Fraud
(HedgeCo.Net) The Securities and Exchange Commission charged three additional individuals for their roles in the $30 million initial coin offering (“ICO”) fraud that was spearheaded by convicted criminal Boaz Manor and his associate, Edith Pardo. The SEC previously charged Manor, […]
Dow futures drop 200 points after the index’s worst week since October
(CNBC) Stock futures declined early Monday morning after the Dow posted its worst week since October. Futures on the Dow Jones Industrial Average dropped 207 points. S&P 500 futures and Nasdaq-100 futures both also traded in negative territory. To read […]
Ackman’s SPAC signs deal to buy 10% of Vivendi’s Universal
(Reuters) Billionaire investor William Ackman’s Pershing Square Tontine Holdings (PSTH.N) signed a deal to buy 10% of Universal Music Group (UMG), Taylor Swift’s label, for about $4 billion, the companies said on Sunday. “As announced, the transaction is based on […]
Coinbase-backed crypto trading firm hits $1 billion valuation after fresh funding
(CNBC) Amber Group, a cryptocurrency financial services firm, has raised $100 million as investors rush to back companies in the industry. The fresh funding round values the Hong Kong-based start-up at $1 billion, To read this article:
Beware of inflation ‘headwinds’: It could take a year to break even after a 10% to 20% market correction
(CNBC) Moody’s Analytics Mark Zandi has a message for investors: Brace for a significant market correction. The firm’s chief economist expects a more hawkish Federal Reserve will spark a 10% to 20% pullback. And, unlike the sharp drops over the past […]
Emerging funds outperform larger peers in 2021
(Opalesque) Hedge funds managing less than $1bn averaged gains of 1.4% in May, extending returns for the year to 8.9%. That puts smaller funds ahead of billion-dollar-plus funds, which averaged 1% in May and 6.9% for the year so far, […]
Fee structures in the spotlight: What start-up hedge funds need to know
(Hedgeweek) Start-up hedge funds’ success or failure often hinges on how managers build fee structures and foster investor relationships during the perennially tricky launch process, which industry participants warn can be frustrating, expensive and time-consuming. To read this article:
Fed shift causes rally in value stocks to wobble
(Reuters)The Federal Reserve’s hawkish shift is forcing investors to reevaluate the rally in so-called value stocks, which have taken a hit in recent days after ripping higher for most of the year. To read this article:
SEC Charges Investment Advisers With Cherry-Picking, Obtains Asset Freeze
(HedgeCo.Net) The Securities and Exchange Commission today announced that it has obtained an asset freeze and other emergency relief, and filed fraud charges, against a Miami-based investment professional and two investment firms for engaging in an alleged “cherry-picking” scheme in […]
Dow falls for a second day following Fed policy update, loses 210 points
(CNBC) The Dow Jones Industrial Average fell for a second day as investors digested the Federal Reserve’s latest policy update, in which it moved up its timeline for interest rate hikes and forecast higher inflation. To read this article:
Mortgage rates shoot higher after Fed Chairman Powell’s comments
(CNBC) The average rate on the popular 30-year fixed mortgage moved decidedly higher Thursday, hitting 3.25%, according to Mortgage News Daily. That is the highest rate since mid-April. To read this article:
Emerging funds outperform larger peers in 2021
(Opalesque) Hedge funds managing less than $1bn averaged gains of 1.4% in May, extending returns for the year to 8.9%. That puts smaller funds ahead of billion-dollar-plus funds, which averaged 1% in May and 6.9% for the year so far, […]