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...Local financial markets are showing increasing signs of stress as Milei works to finalise the key economy portfolios ahead of his inauguration on December 10....
...Arkhouse Management has launched a proxy fight to take control of the board after Macy’s rejected its unsolicited $5.8bn take-private offer....
...The SNB’s attempts to control the franc also resulted in a huge expansion of the central bank’s balance sheet....
...Is the resulting long-short portfolio one we would actually like to hold with our own money? Of course not!...
...That writedown stemmed from a 2019 change in New York rent control regulations paired with a big increase in interest rates....
...“It is a significant portion of the portfolio value. It is publicly listed, so on one hand it is very liquid, but changes in the market value of the company can change the overall portfolio value.”...
...Its shares rose on Thursday after its new management team told analysts it would diversify away from loans to apartment buildings, many of which are subject to New York’s strict laws on rent control and...
...The glaring valuation gap highlights what may be Pfizer’s biggest post-Covid problem: its lack of anti-obesity treatment in its portfolio....
...Once the BoJ is no longer the sole major central bank still locked in ultra-loose mode, runs the argument, a revaluation of the yen will come due....
...“Since 2008 collateral has become more and more important and as central banks are reducing liquidity.”...
...“It is not trading as a bloc any more,” said Jim Tierney, a growth-focused portfolio manager at AllianceBernstein. “Last year everybody got the AI halo . . ....
...The writer is a professor at Uppsala University and author of ‘Our Lives in Their Portfolios: Why Asset Managers Own the World’ and the forthcoming ‘The Price is Wrong: Why Capitalism Won’t Save the Planet...
...Many believe that the slightly better than feared performance of regional economies means a more painful recession can be avoided, while falling inflation will allow central banks to cut interest rates,...
...Investors took the comment as a signal that the central bank’s long awaited “normalisation” of policy after eight years of negative interest rates and yield curve control, would not unleash the sort of interest...
...The billionaire’s investment portfolio also struggled. It lost $1.6bn because of hedges that backfired as the market soared....
...Paul Weiss has also taken on Twitter/X’s former headquarters in central London, a significant bet that London will remain a hub for its clients....
...Another issue is control....
...BPY owns some of those assets outright, some via Brookfield investment funds it controls and consolidates, and some in funds where it holds only small minority stakes that are accounted for as equity investments...
...Deficits are “out of control and the real story is that there’s no mechanism for bringing them under control”, said Jim Cielinski, global head of fixed income at Janus Henderson....
...Foreign investors have pumped around $115mn into the stock market this year, central bank data shows....
...Crans-Montana will join an extensive portfolio that includes Vail Mountain in Colorado, Whistler in British Columbia and three resorts in Australia, together with the RockResorts hotel brand....
...Investors and analysts don’t believe the company will make any immediate changes, given that succession plans have largely been laid out and that Munger’s $2bn-plus stake was not large enough to affect control...
...Reducing debt requires inflation to exceed interest rates for a prolonged period, which in turn means state control of monetary policy and bank balance sheets....
...Yet, thanks to the policy of extreme diversification, the portfolio damage was marginal....
...“We are in robust financial health and benefit from access to a wide range of funding streams to support the development of this unique portfolio.”...
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