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...L’Occitane trades at 15 times next year’s earnings; Paris-listed L’Oréal is above 30, according to S&P Capital IQ....
...For most of the post-08 period that yielded next to nothing — and possibly explained at least some of the downgraded performance of L/S funds — but now a hedge fund treasurer can easily generate 4-5 per...
...Year-to-date things are looking only slightly better, with US equity long/short hedge funds trailing the S&P 500’s continued surge by about one percentage point. That’s all fine....
...“There are 1,200 names between the funds and the overlap between them is almost non-existent. It’s almost like a psychology test for a world view.”...
...Wall Street’s blue-chip S&P 500 index captured its highest share of global equity exchange traded fund flows for at least a decade last year, as the rise of the so-called Magnificent Seven reshaped benchmarks...
...The S&P 500 isn’t at such extremes today....
...Stephen Carson, head of asset management and investment funds at Irish law firm A&L Goodbody, said that in the absence of the OFR, the UK was continuing to operate on measures brought in after Brexit came...
...There they can remain until they are so large they qualify for the S&P 500, or are flipped to another PE fund or rival company....
...But what’s most entertaining is that the government goes ahead and shows the professor’s ongoing work calculating Alameda’s historical balances with FTX — basically the firm’s net P&L — from last year:...
...Canada’s main stock index, the S&P/TSX Composite, has advanced 31 per cent since 2019, compared with a 74 per cent gain for the S&P 500....
...Canada’s main stock index, the S&P/TSX Composite, has advanced 31 per cent in the last five years, compared to a 74 per cent gain for the S&P 500....
...They would pump in $1.8bn in debt to refinance maturing loans and fund working capital and the growth of new clubs, Equinox said in a press release on Friday....
...Unlike many trading firms, Jane Street also makes a point out of paying its people according to their contribution to the broader company, rather than tying it to personal P&L or the earnings of their desk...
...As such the buyout does not look too shabby at 20 times this year’s operating profit on S&P Capital IQ estimates. But with more effort management might be able to double these earnings....
...ETF (WTAI) and L&G Artificial Intelligence Ucits ETF (AIAI)....
...period it too has underperformed the S&P 500....
...In our view, this probably explains their strong re-rating (forward P/E of 27.2x), and why they are trading at a 110% premium to the STOXX 600 (13.0x)” wrote....
...The electric racing series, which is backed by Liberty Global, Warner Bros Discovery and Saudi Arabia’s sovereign wealth fund, was selling the 12th and final spot on its grid, chief executive Jeff Dodds...
...The Granolas’ share of the Stoxx Europe 600 index has climbed to 25 per cent, approaching the Magnificent Seven’s 28 per cent weighting in the S&P 500....
...Then the enterprise value to ebitda multiple would be 10.5 times at a €10bn valuation. That would be well below L’Oréal on 20 times and below the 12 times that Coty and L’Occitane trade at....
...Back in 2019, my colleague Oliver asked Buffett if he should put Berkshire or an S&P tracker fund into his young son’s college fund....
...The move made sense: as the index fund price war has intensified, more and more of the cost of a fund is actually consumed by licensing brand-name indices like the S&P 500....
...When l told my wife, she asked if I’d lost the house (which we owned outright). l said, no, even l was not that stupid. She then laughed and said that it ‘doesn’t really matter much then’....
...While some overwrite on the S&P 500® index, others overwrite on the Russell 2000 or Nasdaq 100 indices, or even single stocks and sectors (not surprisingly, mega-cap Tech buy-write funds have been particularly...
...No, the best returns historically for investors come from US equities. Seems to me, therefore, that unless I can beat the S&P 500 — in sterling to match my liabilities — I shouldn’t bother....
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