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...Chief financial officer Martin Small said on a call with analysts that he expected headcount to be “broadly flat” in 2024, as it has been over the past two years....
...By this measure, model portfolio assets rose 48 per cent from $286bn to $424bn in the two years to June 2023, a period during which the S&P 500 was broadly flat....
...Three-quarters of global iPhone owners used Apple Pay in 2022, according to Deepwater Asset Management. The adoption is particularly pronounced among those aged 18-29 according to Mizuho....
...US hedge fund Elliott Management has instead been on a buying spree, betting that the market has grown too pessimistic over potential losses....
...It “provides a significantly better data point around management’s commitment to deliver cost savings over the next few years”, Erickson added....
...Last year, 80 per cent of exits were sales to corporate buyers ($271bn). The next most popular exit was sales to other PE firms ($62bn)....
...Stifel Nicolaus was fined $920,000 and was ordered to return $1.2mn in assets to customers plus interest, while SIA was fined $80,000 and ordered to return $100,000 to customers plus interest....
...Under Buckley, Vanguard’s reach expanded to more than 50mn clients and assets under management rose 80 per cent....
...Wealth management revenues were flat in the final three months of last year at $6.6bn while profits in the business fell by more than 20 per cent compared with a year earlier....
...“JPMorgan customers own 80 per cent of those assets, so it likely stemmed from a shift in their internal portfolios,” Armour said....
...Listed infrastructure indices were flat across 2022 and 2023, while the private market — GIP’s territory — has seen fundraising collapse....
...“We are going to have a ‘world is not flat’ moment, when asset managers are going to realise we are not prepared to help people draw down,” said Bill Meyer, CEO of Retiree Inc, a retirement planning software...
...This makes it harder to encourage better long-term performance and risk management at portfolio companies, potentially leading to worse outcomes for members....
...This tactic used to be considered market manipulation, but was made legal in the 80s; buybacks then radically increased in the 1990s as Silicon Valley wanted to create more paper money to pay talent, and...
...The SEC updated rules for funds in September to have at least 80 per cent of their assets invested in accordance with their names, including those advertising ESG factors....
...Since year-end 2019, TBV increased from $70 to $87 as of 3Q23 (with a further increase to est. $113 in 2026E) while Citi stock declined from $80 to $51 as of Dec. 29, 2023 (vs SPX up about 47%)....
...Last year the top seven contributors drove around 60 per cent of market gains; year to date they have powered more than 80 per cent of the increase....
...In 2020, management was said to be evaluating the future of the firm and there was a welter of lawsuits; Rego left the gallery soon after....
...BlackRock shares were largely flat in New York trading after the announcements....
...Bain & Co offers the same, and BCG pays $2,000 less, according to Management Consulted....
...Despite strong demand for interest rates and energy futures, total trading volume at CME during the third quarter was flat year on year and lower than the second quarter....
...The most expensive public listings on Sotheby’s books currently include a £75mn 11-bedroom house in Portland Place, and a three-bedroom, 2,700 sq ft flat in Marylebone, listed for around £12mn....
...A high but flat deficit can still put a floor under demand, but it can’t supercharge growth beyond the economy’s underlying “potential” growth rate....
...Ad revenue accounts for almost 80 per cent of Alphabet’s top line....
...Management seemed to place more emphasis on managing cash flow, rather than on investment, which reached near break-even point during the year....
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