Hints and tips:
...There’s a Wirecard connection too: the firm which structured a Mauritian shell at the heart of Wirecard’s controversial Indian deal provided the investment structures for Vinod Adani and his associates....
...About 45 per cent of those holding S&P 500 and FTSE 350 CEO jobs in the first quarter of 2023 had previously run a division. A fifth of S&P 500 and a quarter of FTSE CEOs had held a role in finance....
...Just $3bn of risky triple-C rated US bonds and loans have been issued into the broad market this year, down 78 per cent from last year, according to data from PitchBook LCD and Refinitiv....
...Adam Abbas, the co-head of fixed income at Harris Associates, said markets were “effectively” closed for triple-C rated companies looking to raise debt, raising the spectre of “a natural default cycle”....
...It is a clearout that mirrors the CEO turnover after the 2008 financial crisis, according to Luke Meynell of executive search company Russell Reynolds Associates....
...Monika Hamori and Rocío Bonet are associate professors of human resources and organisational behaviour at IE, which is the FT’s partner in executive development venture Headspring Letter in response to...
...They illustrate their argument by comparing the paths to success of the richest people in Mexico and the USA (p. 39)....
...And you don’t hear much complaining when the industry does beat the S&P, as was the case in 2018....
...Our last published fair value of 440p (29% upside) is equivalent to a P/TNAV multiple of 0.79x....
...The stock trades at 21x FY22E P/E. During the lockdown, we have seen major brands, i.e....
...Associate/JV income of $421m is 27% below consensus $574m....
...Mr Buberl’s strategy of growing the P&C business means Axa IM is primarily needed to function as an efficient manager of its insurance assets and so it will retain an important role within the group, according...
...“The S&P 500 at 3,100 and the 10-year Treasury yield between 1.9 per cent and 2 per cent....
...We value JE using a sum-of-the-parts model comprising the UK, Canada, Australia and the iFood associate, which is a significant element (c.10%) of the group valuation, using a combination of sales multiples...
...Swati Dhingra, associate professor, LSE Centre for Economic Performance: No, and it will be slower than others....
...Shares in Tiffany, the S&P 500-listed luxury brand, for example, dropped by about 45 per cent between last summer and December, although it has since recovered about half those losses....
...In 2017, a property fund bought out the bankrupt venture and renamed it the Adelaide Hotel. The M came off first, then the P. Soon the T, R and U were gone too....
...Most investors associate that setting with high recession risks, which is why 2019 could be the true late-cycle year when almost every asset underperforms cash....
...New hires include Mike Cooke, formerly at TA Associates on technology investments, has joined as vice-president. Bilal Chaudhry, who worked at KKR, is now senior associate at Apax....
...Chris Humphrey is a Research Associate at the Overseas Development Institute, specialising in development finance. Back to beyondbrics...
...“There will be a lot of c**p that clients won’t pay for and that is when the big cuts [to the analyst workforce] at the global banks will come....
...Tightened underwriting is to bring the loss ratio in its core P&C unit to the key 60 per cent threshold....
...Compare that to the roughly 10 per cent annual returns you would have gotten over the same period if you invested in the S&P 500 index and reinvested all dividends, or the long-run net of fees returns of...
...Elliott Associates, an activist hedge fund, is known for challenging companies’ management and calling for change....
...“There’s certainly regret,” said Jim McKee, head of hedge-fund research at Callan Associates Inc., which advises pension funds....
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