Monthly Archives: August 2023
New Jersey-Based ETF Manager Charged for Fraudulent Conduct and Bars Founder
(HedgeCo,Net) The Securities and Exchange Commission has charged Samuel Masucci and entities he founded and controls with disadvantaging an exchange traded fund (ETF) they managed and misleading the ETF’s trustees to obtain $20 million in rescue financing to avoid a […]
Stock futures fall after Fitch downgrades U.S. rating, earnings season continues: Live updates
(CNBC) U.S. stock futures fell Tuesday night after Fitch downgraded the U.S.’s long-term rating and traders continued to assess the latest batch of second-quarter earnings results. Dow Jones Industrial Average futures slid by 75 points, or 0.2%. S&P 500 and […]
Fitch downgrades U.S. long-term rating to AA+ from AAA
(CNBC) Fitch Ratings downgraded the United States’ long-term foreign currency issuer default rating to AA+ from AAA on Tuesday, pointing to “expected fiscal deterioration over the next three years,” an erosion of governance and a growing general debt burden. “The […]
Man Group AUM hits record $151.7bn
(Hedgeweek) Man Group, the world’s largest listed hedge fund manager, saw its assets under management hit a record high of $151.7bn in the first half of 2023, surpassing analysts expectations, according to the company’s half-year results for the six months […]
Hedge funds increasingly adopting ChatGPT, says survey
(Hedgeweek) A new survey from BNP Paribas has revealed that hedge funds and other money managers are increasingly turning to ChatGPT to help with their marketing efforts and to summarise large reports, according to a report by the Financial review. […]
Long-short hedge funds unwind bearish bets in July
(Hedgeweek) Global long-short hedge funds, which are on course to post their worst monthly performance since May 2022, were forced to unwind bearish bets in both their long and short books in July, according to a report by Reuters. To […]
Citadel appoints former BlackRock exec to head up China operations
(Hedgeweek) Citadel Securities, the market-making firm owned by Ken Griffin, founder of multi-strategy hedge fund major Citadel, has appointed Tony Tang, the former head of BlackRock’s China business, to head up its operations in China, according to a report by […]
Hex Founder Charged with Misappropriating Millions of Dollars of Investor Funds from Unregistered Crypto Asset Securities that Raised more than $1 Billion
(HedgeCo.Net) The Securities and Exchange Commission has charged Richard Heart (aka Richard Schueler) and three unincorporated entities that he controls, Hex, PulseChain, and PulseX, with conducting unregistered offerings of crypto asset securities that raised more than $1 billion in crypto […]
Walmart pays $1.4bn for Tiger Global’s Flipkart stake
(Hedgeweek) Walmart has paid $1.4bn to acquire Tiger Global Management’s remaining stake in Flipkart, in a deal that values the Indian e-commerce giant at $35bn, according to a report by Bloomberg, citing a letter sent by Tiger Global to investors. […]
Stock futures are little changed as Wall Street’s busiest earnings week continues: Live updates
(CNBC) U.S. stock futures traded near the flat line Monday night as investors await a flood of corporate earnings reports. Dow Jones Industrial Average futures fell by 7 points, or 0.02%. Futures linked to the S&P 500 and Nasdaq 100 […]
Meta’s stock just wrapped up its ninth straight monthly gain as Wall Street cheers cost cuts
(CNBC) A year ago, Meta’s stock was in the midst of a nosedive as Wall Street grew concerned that threats to the business were increasingly existential. But after Mark Zuckerberg’s company, formerly known as Facebook, reported better-than-expected second-quarter results last […]
JPMorgan Allegedly moved $1.1 million from Jeffrey Epstein to ‘women or girls’ after terminating client relationship
(CNBC) JPMorgan Chase handled more than $1.1 million in payments from Jeffrey Epstein to “girls or women” after the giant bank says it fired the sex offender as a client, a lawyer for the U.S. Virgin Islands told a judge […]
