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...BCG is working with global tech giants and AI companies — from Microsoft and Google to OpenAI and Anthropic — to integrate their technology into company operations and processes....
...Many of the businesses now underwrite their own debt deals, lending either directly to companies or against a host of assets....
...Jane Street said that was a result of the drop in volatility from a year prior, when the Federal Reserve began to aggressively raise interest rates, leading to sharp swings in asset prices....
...The company’s stock price is down more than 5 per cent in 2024, after a strong fourth quarter during which time it rose more than 25 per cent....
...A more benign while still realistic view comes from Gene Munster of Deepwater Asset Management....
...But management is not accounting. Companies are made out of people, who need to be treated a certain way if they are to be productive....
...Activist investor Sparta Capital Management is calling on London-listed engineer Wood Group to consider a US listing to address the “continued underperformance of its shares”....
...The business, which has been central to the bank’s growth in recent years, was already in the sights of the Federal Reserve over money laundering controls....
...Private equity firms are increasingly raising money to buy individual companies on a deal-by-deal basis, as they struggle with a downturn in the market and investors look for ways to cut management fees....
...Morgan thinks the US Federal Reserve will probably pave the way to a soft landing for America and the world economy, but adds that there are risks of a crash in the event of increasing geopolitical instability...
...In other words, it seems possible that the management team is just not very good.”...
...Wall Street retail lenders, which have more diversified sources of revenues like investment banking and wealth management, can afford the fight for deposit....
...Whenever there’s a study that dunks on active portfolio management, we’ll be here to cut and paste. Today’s active management dunk comes from Morningstar....
...It is the reincarnation of Wall Street’s proprietary trading desks in asset management, with upside-down incentive structures, without the same regulatory oversight and with ill-fated stop loss risk management...
...Net issuance, which is adjusted for Federal Reserve purchases and existing debt falling due, will be $1.6tn over 12 months to the end of September according to calculations by RBC Capital Markets, the second...
...Federal Reserve officials have indicated they still expect to cut interest rates by three-quarters of a percentage point this year, sending US equity markets to record highs....
...“Managing directors” who are not directors of any company and don’t manage anything. “Vice-presidents” who carry bags and take minutes. “Executive directors” who are mid-level bureaucrats....
...Hiroshi Lockheimer, head of Android, will be moved to work on other products and is replaced by Sameer Samat, vice-president of product management for Android and Google Play....
...It doesn’t often come from the chief executive of a company we’ve written about....
...This week the Federal Reserve lifted its economic growth outlook, adding to investor confidence that corporate profits could continue to grow....
...Curiously, though, this trend is less clear among S&P 500 companies, which we would expect to have larger cash reserves and more debt fixed at low rates, giving them more to gain from higher rates....
...But the knock-on effects were often less than ideal, including a huge shrinkage of coverage for small and medium-sized companies....
...The first is a standalone public company — albeit with a lot of other businesses bolted on — while the latter two are part of broader listed companies, S&P Global and LSEG respectively....
...Anyway, here’s the lowdown on asset management for this week. You’ll be back in Harriet’s capable (and tanned) hands next time....
...Peter Keith, an analyst at Piper Sandler, told me that he has confidence in the new management team, but the risk is that the timing of turnarounds is inherently uncertain....
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