Wall Street Insider January 19
Dear Readers,
This week's stories included lots of bank earnings (bottom line: bond trading slumped, but execs said the markets are improving). We broke down Wall Street's (skeptical) reaction to a $22 billion fin-tech megadeal. And we talked to a handful of tech bankers who sighed that although 2019 was supposed to be the year of the multi-billion IPO, it's turning into a 's---show' (their words).
Suze Orman Says You Need $5M To Retire -- Which Is Nonsense
Even people with modest retirement-account balances can comfortably retire. : Author and personal-finance guru Suze Orman ruffled a lot of feathers in a recent podcast, saying that people need $5 million -- maybe even $10 million -- in order to retire. Orman was responding to a question about the "financial independence, retire early," or "FIRE," movement, a growing online trend in which people in their 30s or younger just stop working. Generally, these folks aim much lower -- more like $1 million or so -- then adjust their cost of living downward.
Investors Punish Poorly Performing Hedge Funds By Pulling Billions
BOSTON (Reuters) - Hedge funds suffered their worst quarterly outflows in two years when investors pulled $23 billion from the industry during the last three months of 2018, new data released on Friday show. In total, investors asked for $34 billion back last year, but the bulk of the money was pulled out in the fourth quarter when investors lost patience with poor returns and a number of firms decided to shut down after lackluster performance. Fourth quarter redemptions marked the largest quarterly outflows since the third quarter of 2016 when investors pulled $28.2 billion, Hedge Fund Research data showed.
Housing Market Slump | Hong Kong Real Estate | Foreign Investment
Major global markets that once seemed insulated from the housing slump are getting caught in the slowdown. Cities like London, Hong Kong and New York are grappling with a more tepid market, Bloomberg reported. According to a Knight Frank index of high-end properties in 43 cities, luxury residential prices are growing at the slowest rate since 2012. "If New York and London are catching a cold, the primacy is large enough that they might have [...]
Startups Weekly: Squad's Screen-shares And Slack's Swastika - Techcrunch
We're three weeks into January. We've recovered from our CES hangover and, hopefully, from the CES flu. We've started writing the correct year, 2019, not 2018. Venture capitalists have gone full steam ahead with fundraising efforts, several startups have closed multi-hundred million dollar rounds, a virtual influencer raised equity funding and yet, all anyone wants to talk [...]
The 5 Richest Men In The Us Are Worth $415B -- 2% Of The Us Gdp
The five richest men in the US are worth a combined $415.4 billion. Amazon CEO Jeff Bezos, the richest man in the world, is worth $135 billion. He's followed by Bill Gates, worth $92 billion, Warren Buffett at $81 billion, Mark Zuckerberg at $54.7 billion, and Larry Page at $52.7 billion. Their combined wealth equals more than 2% of the US GDP, which was $20.66 trillion in the third quarter of 2018. The richest men in the US are worth a mind-boggling combined wealth of $415.4 billion. And all but one of them made their fortunes in the tech industry.
Greenland Group, Oceanwide Named In Fbi Warrant In La
Four of the biggest Chinese investors in Los Angeles real estate have been named in an FBI investigation of possible bribery, kickbacks, extortion, and money laundering related to property deals in southern California's largest city, according to a document seen... Read More>> The post Greenland, Oceanwide and Hazens Named in FBI Probe of LA Real Estate Deals appeared first on Mingtiandi.
Rep. Haley Stevens Wants To Teach Congress About Autos
The former chief of staff for the auto rescue, now in Congress, hopes to bring lawmakers to SE Michigan next January to learn about the auto industry.
Trifecta Capital Makes Second Bet In Shuttl With $1.4 Mn Funding
Bus shuttle service startup Shuttl has raised $1.4 Mn (INR 10 Cr) in a Series B debenture round from its... The post Trifecta Capital Makes Second Bet In Shuttl With $1.4 Mn Funding appeared first on Inc42 Media.