This asset will crush all others in 2023, says hedge-fund manager who nailed one big call of 2022

This asset will crush all others in 2023, says hedge-fund manager who nailed one big call of 2022

As 2022 winds down and investors reflect on a horrendous year, they can take some comfort in the fact that the big guys had their share of misses. Among them is Harris Kupperman, the president of hedge fund Praetorian Capital, who recently blogged about his 2022 calls he nailed — a selloff of big tech … Read more

Dow falls nearly 500 points after strong data, bearish comments by David Tepper

Dow falls nearly 500 points after strong data, bearish comments by David Tepper

U.S. stocks traded lower on Thursday, erasing most of their gains from their biggest rally in three weeks after a round of upbeat economic data and a warning from hedge-fund titan David Tepper that he was “leaning short” against both stocks and bonds on expectations the Federal Reserve and other central banks will continue tightening … Read more

Justin Bieber Nears Roughly $200 Million Deal to Sell Music Rights

Justin Bieber Nears Roughly $200 Million Deal to Sell Music Rights

Justin Bieber is close to a deal to sell his music rights to Blackstone Inc. BX 3.45% -backed Hipgnosis Songs Capital in a transaction valued at around $200 million, according to people familiar with the matter. The potential deal includes the pop star’s interest in both his publishing and recorded music catalog, the people say, … Read more

Hedge fund talent picks Middle East over London and New York, headhunters say

Hedge fund talent picks Middle East over London and New York, headhunters say

Amid the rising cost of living and higher taxes, top hedge fund talent is moving away from financial centres like London and New York to the UAE, Saudi Arabia, Kuwait, and Bahrain, according to headhunters. This year, global hedge funds such as All Blue Capital and ExodusPoint Capital Management opened offices in Dubai. All Blue … Read more

Blackstone’s BREIT Highlights Looming Dangers of Private Funds

Blackstone’s BREIT Highlights Looming Dangers of Private Funds

Top executives at Blackstone Inc. BX -0.72% declared themselves baffled that so many retail investors want their money back from its giant private property fund, given its strong performance.  They shouldn’t be surprised. The very design of the fund encourages investors to withdraw when they see others doing so. My worry is, those same incentives … Read more

FTX founder Sam Bankman-Fried denies 'improper use' of customer funds | GMA – Good Morning America

FTX founder Sam Bankman-Fried denies 'improper use' of customer funds | GMA – Good Morning America

FTX founder Sam Bankman-Fried denies ‘improper use’ of customer funds | GMA  Good Morning America A journalist who interviewed Sam Bankman-Fried about FTX’s collapse said it ‘felt like a therapy session’ for the crypto mogul  Yahoo Canada Finance Sam Bankman-Fried is ‘delusional’ and needs to be prosecuted, says Michael Novogratz  CNBC Television SBF Missed FTX’s Risks  Bloomberg Here’s what … Read more

Blackstone Limits Redemptions From Real Estate Vehicle, Stock Sinks

Blackstone Limits Redemptions From Real Estate Vehicle, Stock Sinks

Blackstone Inc. BX -7.09% shares took a big hit after the investing giant’s real-estate fund aimed at wealthy individuals said it would limit redemptions. Blackstone Real Estate Income Trust Inc., more commonly known as BREIT, said Thursday in a letter posted to its website that the amount of withdrawals requested in October exceeded its monthly … Read more

Blackstone Stake Sale Values MGM Grand, Mandalay Bay at $5.5 Billion

Blackstone Stake Sale Values MGM Grand, Mandalay Bay at $5.5 Billion

Blackstone Inc. has agreed to sell its 49.9% stake in two Las Vegas hotels in a deal that values the properties at $5.5 billion, marking one of the largest U.S. casino transactions this year. The New York investment firm is selling its stake in the MGM Grand Las Vegas and the Mandalay Bay to Vici … Read more

Walgreens Unit to Buy Summit Health in Roughly $9 Billion Deal, Including Debt

Walgreens Unit to Buy Summit Health in Roughly $9 Billion Deal, Including Debt

A unit of Walgreens Boots Alliance Inc. WBA 3.67% struck a deal to combine with a big owner of medical practices and urgent-care centers in a transaction worth roughly $9 billion including debt, the latest in a string of acquisitions by big consumer-focused companies aiming to delve deeper into medical care. The drugstore giant’s primary-care-center … Read more