Nasdaq entered correction territory, Japan stocks entered a bear market, the yield curve almost un-inverted, economic data triggered a recession rule, and a junior IB analyst won gold at the Olympics 💪🇺🇸
Nvidia volatility surpassed Bitcoin's, a divided BoE cut rates, hedge fund allocation to China hit a five-year low, Google is hoarding Nvidia chips for YC-backed startups, and the 9/11 mastermind will avoid the death penalty.
Stock market ripped, Japan raised rates, shareholders sued CrowdStrike, Bill Ackman canceled IPO plans, KKR is swimming in fees, Oaktree exited to Kylian Mbappé, and Ares smashed HPS' record with a behemoth private credit fund.
'Earnings Super Bowl' week continues on as as early Big Tech earnings came in mixed. Elsewhere, Spirit is abandoning its low-fare strategy, wealthy investors are driving record gold demand, and Intel is laying off thousands.
Wells Fargo conducted sham interviews for DEI candidates, UK is cracking down on PE bonuses, Hedge funds are ditching European shorts at record pace, and Toyota's chairman may lose his board seat.
Short seller Andrew Left was criminally charged, SPAC deals are poised for a comeback, Hudson Bay accused the Fed of engineering lower long-end yields, and Bill Ackman delayed the IPO of his new closed-end fund.
OpenAI unveiled a search engine to rival Google, WhatsApp hit 100M active US users, Bill Ackman's newest fund may raise ~90% less than he planned, and David Rubenstein's daughter resigned a top job after cronyism claims
China is ensuring AI models are socialist, Colin Kaepernick launched an AI startup, Chinese quant funds are struggling, CrowdStrike may cost Fortune 500 firms over $5B, and US stocks continued to get wrecked.
LPs are wary of PE continuation funds, FTC is probing 'dynamic pricing' practices, US home prices hit a record-high, insurers are set to lose billions from CrowdStrike's glitch, and early Big Tech earnings came in mixed.
'Twas a pretty calm day in markets, with stocks regaining ground after last weeks selloff and businesses continuing to reel from CrowdStrike's glitch. Meanwhile, a slew of failed M&A deals are making bankers rethink fee structures.
A CrowdStrike glitch nearly crippled the global economy, Taleb's protege thinks the greatest bubble is at its peak, secondaries had a record H1, and Biden dropped out of the presidential race.
Blackstone increased its pace of investments, foreign holdings of US debt hit a record high, OpenAI is exploring making its own AI chips, and Amanda Staveley is going football club shopping.
