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Digital Assets: MicroStrategy’s Saylor, El Salvador’s Bukele Both Buy The Bitcoin Dip

November 30, 2021

Path-breaking corporate bitcoin investor MicroStrategy (NASDAQ: MSTR) said in a filing Monday that it purchased approximately 7,002 bitcoins for about $414.4 million in cash, or $59,187 per coin, between October 1 and November 29 – a classic ‘buy-the-dip’ operation as financial markets reel from the implications of a new, highly mutated virus.

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More Stories on Investments

EU Cryptocurrency Regulations

EU Member States Harder on Crypto Assets

August 17, 2019

Do cryptocurrencies present a more significant risk to individual EU states than to Brussels?
It would seem so, because many European countries have implemented crypto regulations that are stricter than the EU’s Fifth Anti-Money Laundering Directive, which came into force in July 2018.

Negative interest rates

Negative Interest Rates: Danish Bank Unit Pays Interest to a Borrower

August 17, 2019

For the first time in its history, Realkredit Danmark, a lending unit of the Danske Bank Group, has had to pay out interest on a loan taken by a customer
A fallout of the negative interest phenomenon, more such events are expected where a lender pays out interest to a borrower (rather than the other way round, as in the case of positive interest rates).

Listed Lending Platform Funding Circle Hits $10 Billion in Funds Issued

August 17, 2019

Listed lending P2P platform Funding Circle, headquartered in London, has surpassed the magic figure of $10 billion in funds loaned
Launched in 2010, Funding Circle is the first P2P platform to be listed in the UK.

Bill Ackman at Pershing: He’s really pushing it

August 16, 2019

What a stark difference. The S&P500 is up 17.35% through June 30, while Bill Ackman’s Pershing Square Holdings, his publicly traded vehicle, rose 45.3%.
This, despite 2019 being the best annual start for the index since 1997.

Crescat Capital Celebrates the “Macro Trade of the Century”

August 16, 2019

This August one couldn’t have called it better: long precious metals, short yuan, and short equities
Those are the three legs of Crescat Capital’s “macro trade of the century,” and together they netted a 16% gain for the fund in the early days of August.
Crescat Capital founder Kevin Smith, therefore, has cause for celebration.

30-Year Treasury Bond Slumps Under 2% for First Time

August 16, 2019

Markets fear a global recession. The old reliable 30-year bond just hit an all-time low. The 30-year treasury bond just hit an all-time low. While the Dow slumped 800 points Wednesday, the 30-year bond dropped under 2% for the first time in history. We witnessed a drop to 1.991% during Asian trade. It’s also the…

That iconic Mustang from Bullitt may set a new muscle car record at 2020 auction

August 15, 2019

Mecum’s 2020 Kissimmee auction in January will notably feature the 1968 Ford Mustang driven by Steve McQueen in the movie Bullitt.
This would be the first time the renowned car will feature in an auction after it was miraculously found intact in Tennessee 18 months ago.
According to Dana Mecum, company president and founder, the Mustang might well pull past the previous American muscle car record of $ 3.5 million held by a 1971 Plymouth Hemi Cuda convertible. Considering the highest auction price for a Mustang so far has been $ 2.2 million for a 1967 Shelby GT500 Super Snake, that would be quite an achievement.

Bill Ackman and Pershing Square Bets on Berkshire Hathaway

Bill Ackman: Berkshire Stock to “Increase Substantially”

August 15, 2019

Has Pershing Square been summoned to bail out the Oracle of Omaha? Bill Ackman said in a letter to shareholders that Berkshire Hathaway stock will bolster returns for the fund. The letter comes shortly after Ackman revealed a sizeable stake in Warren Buffett’s iconic firm. The timing of the $700 million purchase of Berkshire B…

Harry Markopolos: GE Operating $38B Accounting Scam

August 15, 2019

Markopolos working with an unnamed hedge fund that is shorting GE
Harry Markopolos is an accounting expert reputed for exposing Bernie Madoff’s Ponzi scheme.
On Thursday, Markopolos released a 170-page report that alleged various accounting irregularities at GE. The report says that many of GE’s filings with regulators could be inaccurate and fraudulent.

Cambridge Taps Tilly Franklin as New Endowment CIO

August 15, 2019

Franklin replaces Nick Cavalla, who left in 2018 for Talisman Global Asset Management. Tilly Franklin is the new CIO of the University of Cambridge’s £3.2 billion endowment fund. The role shouldn’t bring any surprises to Franklin. She has been on the school’s investment board since 2014 and is an alumna. She assumes the CIO role…

Creditas

Softbank-Backed Brazilian Fintech Looks to Boost Resources and Innovation

August 15, 2019

São Paulo-based secured lending platform Creditas announced a $231 million funding round on July 10 that values the fintech at $750 million.
The funding round is led by SoftBank Group. Existing investors Vostok Emerging Finance, Santander InnoVentures and Amadeus Capital will also participate.

M&A Deal News – August 15, 2019

August 15, 2019

A merger in media, antitrust busts, a REIT sells two hotels… and more M&A deal news M&A deal news from around the globe. Each day, we focus on deals in the private equity, real estate, AI and tech, and others impacting the alternative investment space. Here’s our recap for Thursday morning. First, Summer Redstone’s entertainment…

Lapis Advisers Pressures University on Technical Default

August 15, 2019

Bethune-Cookman University, in technical default on bonds worth $17 million, is under fire from hedge fund Lapis Advisers, the largest holder of those bonds
Lapis Advisers and bond trustee U.S. Bancorp are alleged to be pressuring the college for a first mortgage on its property worth about $161 million, as part of a forbearance agreement with tenure until December.

Bill Ackman and Pershing Square Bets on Berkshire Hathaway

Pershing Square Bets on Warren Buffett

August 15, 2019

Bill Ackman’s secret investment we discussed last week was just a big bet on Berkshire Hathaway Pershing Square Capital Management has made a passive investment on Warren Buffett. A new SEC filing disclosed a 3.5-million stake in Berkshire B shares during the second quarter. Reuters reports it’s a passive investment for Ackman’s firm. As of…

P2P lending platform Mintos Clocks Over €3 Billion in Loans Given

August 15, 2019

Mintos is stepping up the pace on its lending activities with over €1 billion in loans advanced since April of this year
The platform provides a large cross-section of loans through 65 loan originators. Most of these loans are in the consumer category, though loan types such as agro, business, and invoice financing are also available.

The Bitcoin ETF Trust

SEC Delays Decisions on Bitwise Bitcoin ETF Trust and VanEck SolidX Bitcoin Trust

August 14, 2019

Three Bitcoin ETFs face delays from the SEC office. Some things never change. The Bitcoin ETF Trust is going to have to wait a few more months for approval. The Securities and Exchange Commission again delayed a decision on approving three Bitcoin exchange-traded funds. The decision helped propel a 4.5% decline in the price of…

Softbank Vision Fund invests in Energy Vault

Softbank Vision Fund Makes its Maiden Investment in an Energy Firm

August 14, 2019

Softbank’s Vision Fund, known for its massive bets on tech companies such as Uber, WeWork and Slack, has invested $110 million in Swiss energy startup Energy Vault.
Energy Vault pioneered the storage of renewable energy using recycled concrete blocks built into a tower.

Yield curve inversion flashes recession warning

August 14, 2019

Yield curves have inverted on both sides of the Atlantic following the release of weak economic data across the globe
Yield curve inversion, a phenomenon where longer-term yields fall below short-term yields, was on full display in the U.K. and the U.S. today.
In the U.S., 10-year yields were poised at 1.62% while two-year yields dropped to 1.63%. Across the pond, in the U.K., the 10-year and 2-year yields quoted 0.475% and 0.478% respectively.

One of Asia’s oldest hedge funds warns of looming ‘distressed cycle.’

August 14, 2019

The US-China trade war and growth concerns are likely to push up debt defaults in the region
As default rates in China tick up, a distressed cycle is looming on the horizon, according to George Long, Chief Investment Officer of LIM Advisors, a 14-year-old hedge fund based out of Hong Kong that manages $1 billion in assets.

Argentina’s Stock Rout Hammers Newfoundland Capital Management

August 14, 2019

Newfoundland Capital Management, a Brazilian asset manager, had $300 million in a long-only fund that invested heavily in Argentine stocks
The fund’s losses could be substantial given that Argentina’s key stock index crashed 33% this week following political developments that dimmed President Mauricio Macri’s re-election chances in October.

New SEC Regulations Will Increase Investor Participation in Alternatives

August 14, 2019

The SEC’s revamp would be a boon for financial advisors who are already seeing increasing demand for investment opportunities in alternatives.
According to Lawrence Calcano, CEO of iCapital, the $40 billion alternatives platform used by Fidelity and Morgan Stanley, the SEC may also lower the eligible net worth limits to qualify for investing in alternatives.

Coinbase Loses Barclays Banking Services

August 14, 2019

Barclays reportedly ends its relationship after less than 20 months. Coinbase, one of the world’s largest cryptocurrency exchanges, is looking for a new provider of banking services. Coindesk reported Wednesday that Barclays cut ties with the firm. Their relationship lasted less than 20 months, according to sources cited on the matter. Though neither party responded to…

Brookfield Business Partners Buys Big Stake in Genworth Financial’s Canadian

August 13, 2019

The deal clears the way for China Oceanwide to purchase Genworth. Brookfield Business Partners announced plans to purchase a 57% stake in Genworth Financial’s Canadian mortgage insurance unit. According to terms of the deal, the stake is worth roughly $1.81 billion. Brookfield purchased 4.9 million common shares of Genworth MI Canada stock for CAD$48.86 per…

The Bitcoin ETF Trust

SEC: Veritaseum ICO was Illegal, CEO Charged with Manipulative Trading

August 13, 2019

The SEC wants to stop Veritaseum ICO operators from dissipating from what it described as an illegal offering. The Veritaseum ICO isn’t what it was cracked up to be. In what feels like a daily occurrence, the regulators have frozen assets over an alleged ICO fraud scheme. The SEC filed an emergency lawsuit in federal…