Monthly Archives: March 2021
Robinhood building platform to allow users to buy into IPOs, sources say
(CNBC) Robinhood is building a platform to “democratize” initial public offerings, including its own, that would allow users of its trading app to snap up shares alongside Wall Street funds, according to people familiar with the matter. The move could […]
GameStop shakes off earnings slump, soars 50% to snap recent slide
(CNBC) GameStop snapped a five-day losing streak with a significant surge on Thursday, as shares of the video game retailer rose more than 50% and showed that their wild swings are not yet over. The stock slumped 33% in the […]
Junior Credit Suisse bankers to get $20,000 ‘lifestyle’ bonus
(Reuters) Credit Suisse will give more junior members of its capital markets and deal businesses a $20,000 “lifestyle” allowance as it tries to maintain morale among staff feeling the strain from heavy workloads and remote working. Stress among junior bankers […]
SkyBridge’s Scaramucci says Bitcoin can prosper without becoming a major currency:
(Reuters) – Bitcoin doesn’t need to become a widely-used form of payment to succeed and could prosper solely as a store of value, SkyBridge Capital founder Anthony Scaramucci said on Wednesday. “For bitcoin to be successful … it doesn’t have […]
Hedge fund industry starts the year strong with $30.5bn in January inflows
(Opalesque) The hedge fund industry experienced $30.5 billion in inflows in January, a strong start to the year following a December that saw nearly balanced flow activity with $42.6 million in redemptions, reports BarclayHedge. January 2021’s inflows represented 0.8% of […]
BlackRock, others’ risks should be studied, ‘systemic’ tag may not be best: Yellen
(Reuters) Treasury Secretary Janet Yellen said on Wednesday it is important to “look carefully” at systemic risks posed by asset managers, including BlackRock Inc, but said designating them as systematically important financial institutions may not be the right approach. To […]
Hedge fund managers up 2.99% in February
(Opalesque) Hedge fund managers were up 2.99% in February – recording their third consecutive month of outperformance against the global equity market as represented by the MSCI ACWI which returned 2.72% over the month. In terms of performance distribution, the […]
Aberdeen Standard is bullish on merger arbitrage and long/short equity hedge funds
(Hedgeweek) Aberdeen Standard Investments is bullish on event driven merger arbitrage hedge funds amid a surge in deal volumes, while equity long/short and activist managers are also tipped to capitalise on the continued fallout from the coronavirus pandemic. To read […]
Hedge Funds Capitulate on Dollar Short Bets as Losses Mount
(Bloomberg) Hedge funds have capitulated on their short-dollar bets after surging Treasury yields upended a favorite global macro strategy. Leveraged funds flipped to become net buyers of the world’s reserve currency during the week to March 16 — a tumultuous […]
Coinbase CEO Brian Armstrong owns close to $14 billion of company stock ahead of market debut
(CNBC) When Coinbase hits the public market in the coming weeks, CEO Brian Armstrong is poised to rank among the wealthiest people in tech. Armstrong, who co-founded the cryptocurrency exchange in 2012 after working for a year at Airbnb, owns […]
Robinhood files confidential paperwork to go public
(CNBC) Robinhood has filed confidential paperwork to pursue an initial public offering (IPO), a source familiar with the matter told CNBC on Tuesday. Robinhood later confirmed the move in a blog post. The company has experienced a whirlwind start to […]
Powell and Yellen agree valuations in the market may be high, but aren’t worried about stability
(CNBC) Speaking before the House Financial Services Committee, both said they are confident in the stability of the financial sector as the U.S. economy recovers from the Covid-19 pandemic. But Rep. Jim Himes, D-Conn., asked the pair if they are […]