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Each day, DailyAlts tracks major developments across the alternative investment world. Our content is procured from primary contacts in the industry and secondary sources across the web. Our goal is to give readers the most up-to-date news and engaging experience to open new doors and areas of knowledge. Our stories cover nine separate verticals of the alternative investment industry.

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Hedge Funds: Four Portfolio Managers Leave Citadel

Volatility has shaken the markets. The Dow had its worst quarter in history. The U.S. economy could see GDP fall by 30% this quarter. And four portfolio managers at Citadel won’t be around to see what happens next.  Bloomberg reported that the hedge fund fired four portfolio managers last week. Chris Conner, Tio Charbaghi, Steve Bergman, and Chip Fortson are out, according to the report. The four all worked in Citadel’s Global Equities group. The timing coincided with the hiring of Justin Lubell, a Point72 alum, to take over that group.

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Bonanza of New Accounts at Charles Schwab After Zero-Commission Trading
November 14, 2019

Brokerage Charles Schwab added a solid 31% more accounts in October compared to September. Charles Schwab’s move last month to introduce commission-free trading has paid off in spades. Previously, it…

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Carl Icahn Takes Stake in HP, Pushes for Xerox Merger
November 14, 2019

Activist investor Carl Icahn has purchased roughly $1.2 billion in HP Inc. stock. Icahn is now pushing the personal computer maker to merge with printing giant Xerox. Icahn now owns…

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The New Geneva AI Tool Automatically Learns How to Evade Censorship
November 14, 2019

In the arms race to implement (and avoid) censorship, David has a new tool against Goliath. It’s called Genetic Evasion, or Geneva for short. Censoring regimes and authoritarian governments are…

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Paypal Blocks Payments to PornHub Models; Cryptos See Opportunity
November 14, 2019

Pornhub is up in arms against PayPal for suddenly blocking payments to its 100,000 models. “We are all devastated by PayPal’s decision to stop payouts to over a hundred thousand…

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Bank-branded Checking Accounts Soon from Google
November 14, 2019

Google is partnering with Citigroup and the Stanford Federal Credit Union to offer checking accounts by next year. Checking accounts. That all-important banking bastion may fall as cashed-up, data-heavy, and…

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These Funds Were the Biggest Laggards in 2019
November 14, 2019

In a raging bull stock market, the biggest losers in 2019 were obviously funds that were short, or bet on volatility. A Morningstar compilation of the 20 top loser funds…

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IMF Analyst: A Lot of Mutual Funds Could Collapse in a Panic
November 13, 2019

International Monetary Fund analyst Laura Kodres warns that investors are putting too much faith in mutual funds. According to Deutsche Bank, half of the high-yield asset funds could experience liquidity…

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Is China Winning the Artificial Intelligence Race?
November 13, 2019

The artificial intelligence race draws many comparisons to the moon race between the United States and China. But is that an overreaction, and, if so, who is winning right now?

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Facebook’s New Payment System to Roll Out This Week in the U.S.
November 13, 2019

Facebook announced Tuesday the launch of Facebook Pay, a new payment system. Facebook Pay will handle payments across the Facebook ecosystem, namely, Facebook, Messenger, Instagram, and WhatsApp. Payments via Facebook…

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Bad to Worse: WeWork Bonds are Plunging
November 13, 2019

WeWork bonds hit new lows this week after a financial review of the company MarketAxess.

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