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...That’s really problematic for the rest of us,” said John Duncan, co-lead for the Business Coalition for a Global Plastics Treaty, a group of more than 200 companies including Walmart, PepsiCo, and L’Oréal...
...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....
...[with] greater management and organisational flexibility, faster decision-making and execution times”....
...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:...
...That’s an uncomfortable question to ask, in a world where we regularly hear of unscrupulous employers bullying, failing to pay overtime, or throwing qualified staff overboard, as P&O Ferries did so disgracefully...
...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....
...(Alphaville believes that using L’Oréal as an O is cheating, even if it makes your acronym look nicer.)...
...As would you earning $17mn a year, the median paid to those atop S&P 500 companies, for example. This is probably not fair to managers of many industrial firms, where safety is front of mind....
...You are also getting exposure to another 493 companies [in the S&P 500] that make up more than 70 per cent of the index by weight.”...
...L&G’s balance sheet investment unit was flat after a tougher second half for the property market, and its asset manager, Legal & General Investment Management, posted an expected fall in profit as higher...
...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....
...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....
...Goldman estimates that the median short interest in S&P 500 companies is still remarkably low at 1.7 per cent, but is up from 1.5 per cent at the end of 2021....
...Whatever the strategy employed, overarching mandates of risk management and loss protection mean being underweight the winners so underperformance versus equity benchmarks is pretty much guaranteed....
...Haldenwang’s management style also contrasts that of his predecessor. Politicians who work with him say he is diligent, unassuming and focused on detail and steady progress, rather than grandstanding....
...Most of the nearly $500bn increase in assets under management in the first quarter was due to rising equity markets. In the US, the S&P 500 had its best first quarter since 2019....
...The trust invests in high-growth companies such as Nvidia and Tesla....
...Following the transaction, Bluegem will retain a 47 per cent stake in the beauty company with the remaining 2 per cent held by Beautynova’s management....
...Berkshire bulls might object that the company has delivered slightly better performance than the S&P since 2019: 15.7 per cent annually to the S&P’s 14.1....
...Jane Street is suing Millennium Management and two former employees for allegedly stealing trade secrets in a rare public spat between two big Wall Street investment firms....
...FT Alphaville wanted to let it lie, but the levels of “this is a good time for active management” guff have grown too damn high — even BlackRock is getting in on it, ffs....
...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 group also includes executives of Related Companies, private credit groups Ares Management and HPS, and L Catterton, a private equity group that invested in Equinox in 2017. Read more here...
...The three continuation funds include two managed by the Chinese group Legend Capital and one by US-based L Catterton....
...The crunchy acronym was coined by Goldman Sachs for pharma companies GSK and Roche, Dutch chip company ASML, Switzerland’s Nestlé and Novartis, Danish drugmaker Novo Nordisk, France’s L’Oréal and LVMH, the...
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