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...But perhaps more importantly — given that most L/S funds actually have a clear long bias — its “Hedge Fund VIP” index of the chunkiest long positions has performed strongly....
...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....
...Hedge funds hedge. It’s right there in the name. Their value to investors, generally speaking, is not to beat the market but to offer uncorrelated returns....
...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 deal values Tod’s at €2bn including debt. This is Della Valle’s second effort to delist Tod’s. An attempt in 2022 failed as shareholders judged his offer was too low....
...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....
...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’....
...The fund also holds Cairn Homes, the Irish housebuilder with a London listing, which trades on a p/e of 8.7 times, compared with US housebuilders such as Lennar, trading at nearly 11 times....
...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....
...Two managers of UK stock funds wrote to say I was not looking hard enough....
...However, hedge fund short sellers continue to run sizeable bets against a number of miners....
...It’s about $15 trillion of underlying values, in those databases of private assets and counting....
...Even so, Rich Kerr, an attorney who co-leads the digital assets team at law firm K&L Gates, is optimistic that the new crop of spot bitcoin ETFs might be easier to approve than expected....
...Funds that equal weight the S&P 500 index — buying the same amount of every stock irrespective of its size — saw record inflows last year, even though this approach hit investors in the pocket as the tech...
...The fund is poised to be Blackstone’s most complex product yet, blending the group’s private equity strategies including traditional buyouts and those targeting biotechnology companies to preferred equity...
...Taken to its extreme, the open-ended fund converges with, say, Berkshire Hathaway, arguably the world’s original evergreen vehicle, or even buying and holding the S&P 500 on margin....
...The number and quality of companies opting for an IPO matters for investors, who can reasonably feel they’ve lost out on a lot of value creation in recent years as private funds got to enjoy the run-up in...
...Many are now snapping up options tied to the S&P that profit if the market keeps on rising....
...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!)....
...The S&P Global Clean Energy index, which includes clean energy giants such as Ørsted, the wind farm developer, is down almost 60 per cent below its peak in January 2021 at the height of a frenzy over the...
...Its credit rating was downgraded by S&P Global last week....
...My favourite is Onfido, an identity verification and fraud management platform, which represents 3.3 per cent of the fund’s net asset value....
...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...
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