Hints and tips:
...The company’s Solvency II coverage ratio, the amount of regulatory capital it holds as a percentage of the minimum required, sat at 224 per cent at the end of the year, above consensus estimates of 217 per...
...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....
...The investor group also includes private credit groups Ares Management and HPS, and L Catterton, a private equity group that invested in Equinox in 2017....
...Global demand for plastics, which makes up 50 per cent of petrochemical demand, is expected to nearly double by mid-century, according to S&P Global Commodity Insights....
...Options include growing capital-light businesses such as defined contribution pension savings and wealth management....
...Free cash flow, however, reconciles those book accounting accruals of the P&L ledger to capture the real flows of actual dollars coming in and out....
...The assets that L&G Capital creates can be moved into the group’s retirement business, where they are used to back pension promises, or into the asset management business, managing them for third-party investors...
...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...
...And in a world where investors like steady fee businesses, wealth management and payments processing support a bank’s valuation and decrease its cost of capital....
...“PE compensation is predominantly derived from the P&L of the firm — which is based on the management fee of the fund, and this is locked in for the life of the fund,” said Tom Thackeray, a partner at Heidrick...
...As Bolgona puts it: From a high level, relative to electing to account for loans at amortised cost, electing the fair value option provides a P&L tailwind during periods of loan growth due to recognising...
...around 3.8% of the total value of all S&P 500 shares traded (or the equivalent of just over 100,000 E-mini S&P 500 futures — as an old futures and options trader, these numbers made me gulp!)....
...It spent $963mn on Manhattan’s Fifth Avenue in January following two big purchases in Paris last year....
...Europe also boasts the Amundi MSCI India II Ucits ETF, which tracks the same index as the iShares ETF, and the L&G India INR Government Bond Ucits ETF, for those interested in fixed income....
...Here’s an interesting business school-style case study by Christopher Tang of the UCLA Anderson School of Management....
...As Antti Ilmanen, global co-head of portfolio solutions at AQR Capital Management notes, IRRs “have got lots of problems. They are popular but they are dangerous, very misleading.”...
...trading update, American Airlines Q3, AT&T Q3, Blackstone Q3, CSX Q3, Deliveroo Q3 trading update, Dunelm Q1 trading update, Equifax Q3, Hargreaves Lansdown Q1, London Stock Exchange Group trading update, L’...
...The performance of the S&P 500 index is now the most concentrated it has been since the 1970s....
...Global luxury brands LVMH and L’Oréal collectively account for almost a quarter of the returns from French stocks. These are not outliers....
...The group recorded $1.4bn in net income in the second quarter, a rise of 27 per cent over the same period last year, buoyed by the recovery in the benchmark S&P 500 index....
...There’s hope for Mexican-food lovers in the UK capital yet....
...Jensen is an assistant professor of finance at Yale, the latter two work for AQR Capital Management, the big quant investment shop run by prominent screen-smasher Clifford Asness, in addition to teaching...
...“So many companies have really benefited greatly from the zero cost of capital,” says Greg Peters, co-chief investment officer at PGIM fixed income....
...The ad hoc group includes funds and accounts managed by King Street Capital Management, L.P., funds and accounts managed by BlackRock, funds and accounts managed by Brigade Capital Management, and other...
...Asking for friends in US asset management, several of whom would like to shop for trading services separately from picking their preferred analysts....
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