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...The S&P BSE small-cap index is down 4.9 per cent month to date....
...The luxury shoemaker’s controlling shareholder, Italian entrepreneur Diego Della Valle, has teamed up with LVMH-backed private equity group L Catterton to take Tod’s private....
...It’s a catchy name that looks good in headlines and investor presentations, and it’s backed up by the kind of gains that make European investors sick with envy (even if we’re all supposed to be worried about...
...The S&P has climbed steadily since early November, with strong earnings and investor excitement about the artificial intelligence boom driving huge gains for the likes of Nvidia and Meta....
...“The big keep getting bigger,” said Peter Oppenheimer, Goldman’s chief global equity strategist and head of macro....
...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....
...Year-to-date things are looking only slightly better, with US equity long/short hedge funds trailing the S&P 500’s continued surge by about one percentage point. That’s all fine....
...New York Community Bancorp, which we wrote about yesterday, has raised $1bn in equity and received an infusion of new leadership....
...Many are now snapping up options tied to the S&P that profit if the market keeps on rising....
...Equity long-short hedge funds have had a miserable decade both in terms of performance and flows. MainFT last week published a very good piece on the theme....
...They crashed all the same because investors had discounted even madder projections. The S&P 500 isn’t at such extremes today....
...Futures markets suggest that investors are not expecting an imminent reversal....
...Recent polls suggest Biden and Trump are neck and neck, and because investors generally loathe uncertainty, UBS analysts last week wrote they “wouldn’t be surprised to see some pick up in equity market volatility...
...Sixth Street, one of the largest private lenders globally, and US private equity group Silver Lake are leading the investor group refinancing Equinox’s debts....
...And investors have been favouring large stocks lately....
...Australia’s S&P/ASX 200 was flat. On Friday, New York Federal Reserve president John Williams said the US was on track to cut interest rates “later this year”....
...“We’re seeing a better balance in the equity rally, which is good news for markets,” he said....
...And — as a chart borrowed from Duncan Lamont at Schroders shows — the extent of concentration in the S&P 500 is not something investors are used to....
...Surging asset prices also reflect investors’ growing appetite for risk....
...Yet, he added: “What still gets me excited about the US equity market is a lot of the market is still reasonably priced.”...
...“The key takeaway is that extremely concentrated markets present a clear and present risk to equity markets in 2024,” said analysts at JPMorgan....
...If you’re a habitual investor in Indonesian, Chilean, Singaporean, Saudi, South African, Taiwanese or US equity markets, you’d be forgiven for knowing that BTFD is a watertight strategy for printing money...
...In typical severe selloffs, most funds’ investors are likely to lose less money than outright equity investors would, and their portfolio managers are not likely to make major changes to portfolio structure...
...Investors poured a record amount into US equity funds last week, snapping up technology stocks and shrugging off concerns over sticky inflation....
...Private equity firms face pressure to sell their holdings because they raise money from their investors for set periods of time, typically up to 10 years....
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