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Archive
The Goldman Age of Private Credit
Police raided AC Milan over their Elliott PE sale, Toyota shorts are out in full force, Goldman is seeking a $300B private credit portfolio, FC Barcelona may break up with Nike, an ex-Wall Street banker is challenging AOC for Congress, and cocoa markets are on the brink of chaos.
PE is Not Cooking
A Boeing whistleblower was found dead, Jamie Dimon warns a US recession is “not off the table” yet, PE is sitting on record unsold assets, big tech isn’t the sole stock rally driver, Europe’s IPO market is recovering quick, Biden unveiled a $7.3T budget, and ISIS is increasingly relying on crypto to fund operations.
Audi F1: A New Era
Investors dumped tech stocks at the fastest rate ever, investors are flocking to all sorts of bonds, EY deals staff are sick of their leaders, BOJ may exit negative rates, hedge funds are threatening to pull out of India investments, and Sam Altman returned to OpenAI’s board.
Don't Bank on the Banks
US has a growing bank problem, bank profits dropped by half due to bank failure costs, leveraged Nvidia bets are at record highs, SMBs are optimistic despite debt burdens, Canadian bank execs missed bonus targets, and Ray Dalio wants Taylor Swift for President.
PE & Failing Banks: A Love Story
PE has taken a liking to failing banks, OpenAI exposed Musk for hypocrisy, the Fed may reduce Basel capital burdens, Binance launched a perfume, Nvidia insiders cashed in, and NASA is recruiting astronauts in what may be the most competitive job ever.
Healthcare PE Under Scrutiny
PwC stripped some partners of leadership, US will probe healthcare PE, global M&A is on for a recovery, bond investors are punishing banks with heavy CRE exposure, Zillow was hit by a short seller report, Miami Beach is sick of spring breakers, and crypto had a day.
Reddit's IPO Risk: Reddit
Goldman's CIO said don’t invest in China, Reddit traders are threatening to short Reddit’s IPO, corporate junk debt defaults are kicking in, UK may allow private firms to trade on exchanges, cash returns now equal bonds’, and Whole Foods is launching NYC bodegas.
Millennials Standing on Business (Inheritance)
BlackRock abandoned "ESG" investing, Wall Street is retreating on DEI efforts, quantitative tightening is barely working, Super Micro is up 2000% in two years, Fitch downgraded NYCB to junk, Musk sued OpenAI, and Millennials are set to inherit $90 trillion.
The Bitcoin Bounceback
Financial Times launched a venture arm, SBF is advising prison guards on crypto, the SEC is investigating OpenAI, Wendy’s canceled its surge pricing plans, OpenAI accused NYT of manipulating ChatGPT, Universal Music is escalating its feud with TikTok, and Bitcoin’s rally caused Coinbase to crash.
Hamburger Derivatives Coming Soon?
McKinsey is in hot water over their China relationship, investors are growing nervous about the private credit boom, SEC accused an ex-CEO of orchestrating a meme-stock rally, the European parliament banned Amazon lobbyists, and Wendy’s will test surge pricing in 2025.
Nvidia Craze Continues
JPMorgan and Citigroup reshuffled some IB leadership, Nvidia bets are dominating options markets, Nvidia is now the most desirable place to work, hedge funds are dropping tech stocks, big tobacco is struggling to stay relevant, and Google saw a $90B sell-off over their AI debacle.