“When everyone is running around like a chicken with its head cut off, that’s pretty good for us.” That’s a quote from hedge-fund legend James Simons back in the days of the dot-com bubble in November 2000, but it still applies today. Yes, the current climate has, indeed, been “pretty good” for Simons and his … Read more
Cryptocurrency prices have been highly correlated with bitcoin, the first and most famous out of thousands that exist. But that could end soon as markets start to acknowledge the differences between these assets, according to Ripple CEO Brad Garlinghouse. “There’s a very high correlation between the price of XRP and the price of bitcoin, but … Read more
Talks over a $3 billion investment from Warren Buffett in Uber Technologies Inc. fell apart earlier this year over terms and the deal size, according to news reports Wednesday. In the proposal, Buffett’s Berkshire Hathaway Inc. BRK.A, +2.10% BRK.B, +2.23% would have provided a convertible loan that would have given the famed investor significant exposure … Read more
Stocks woke up this morning and said Italy WHO?! After yesterday’s slide, the major indices bounced right back. The situation in Italy hasn’t changed much, but traders didn’t seem to care. The rally wasn’t just in the U.S. either. Stocks were higher in Europe and Italian shares were also higher, ending a 5-day slide. — TRENDING … Read more
Saving $1 million for retirement may sound like an impossible task that not many people have achieved. But about 157,000 people have saved at least $1 million in their 401(k)s with Fidelity, according to the company. Another 148,000 had saved that much in an IRA. Of those, 2,400 people had saved $1 million in both … Read more
The answers to which way the market will move next may lie in bitcoin, said Brian Stutland of Equity Armor Investments. “Bitcoin is sort of becoming the new VIX, in sort of getting ahead of credit risk in the banking industry,” Stutland said on “Fast Money” on Tuesday. The CBOE Volatility Index, or VIX, is … Read more
Whether cryptocurrencies and the technology that powers them will reshape the financial system remains to be seen. What’s not in doubt is their ability to transform the career paths of bright young minds on Wall Street. Adrian Xinli Zhang was climbing the ranks at Deutsche Bank AG in New York when he discovered Bitcoin. The … Read more
Much has been made about the prevalence of scams within the initial coin offering (ICO) industry. However, a new report published by researchers at the Boston College Carroll School of Management suggests that the average ICO investor is still raking in a significant profit. The 54-page report, titled “Digital Tulips? Returns to Investors in Initial … Read more
The major indices kicked off the short week with losses over political concerns in Italy. Stocks opened lower then chopped around in the morning. But a surge lower midday took the major indices to session lows. There was a little bounce higher in the last 45 minutes of the session. But the end of day rally … Read more
Single-family rental homes comprise more than one-third of all U.S. rental properties — about 16 million currently, with another 13 million new rental households expected to be formed by 2030. Since U.S. housing stock is not keeping up with this future demand, the sector should enjoy a significant tailwind given these favorable supply/demand trends.. Not … Read more