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...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 decline accounted for roughly half of the 0.9 per cent fall in Wall Street’s S&P 500, according to Bloomberg data....
...Optimism is springing everywhere, evidenced by the high percentage of bulls in the American Association of Individual Investors survey, aggressive flows into equity ETFs, or the low equity put/call ratio...
...“The S&P 500 index and ETFs that track it is the entry point into the ETF market for many investors. It’s the most well-known and favoured of the US equity benchmarks,” Rosenbluth said....
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...This has been a perfect theme for investors for almost a year. Catchy nickname? Check. Eye-popping numbers? Check. Gigantic returns for investors who got in before the latest sweep higher? Sure....
...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....
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...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....
...But as earnings season gears up later this month, investors will be looking anxiously for signs that the pain is working its way up the income ladder....
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...In contrast, Global equities are on a 16.8x P/E (90th percentile vs. their own history), and [ . . . ] most countries trade well above their historical averages....
...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....
...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”....
...Investors should be asking what distinguishes private equity from other, more traditional, investment strategies....
...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....
...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....
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