Posts belonging to Category entrepreneur

Which hedge funds deliver double-digit gains for 2017?

A $3 trillion industry

A handful of hedge funds ended 2017 with double digit returns, their investors said, at a time the $3 trillion industry took in fresh money and posted its best returns in years, industry data show.
Activist hedge fund Marcato Capital Management, which waged proxy fights at Buffalo Wild Wings and Deckers Outdoor Corp. last year, ended 2017 with a 25.6 percent gain at its flagship fund while its smaller Encore portfolio climbed 22.6 percent.

Atlantic Investment Management, which focuses on bets that inexpensive stocks will appreciate in value, posted a 16.4 percent gain in its Cambrian Global Fund. … Thu., 11  January 2018

Wall Street worried by the lack of worry

Some investors are acting as if the market will never go down again

The stock market is sizzling. Companies are touting the bonuses they are giving thanks to lower taxes. And consumers are spending with gusto.
But some experts are worried that a sense of invincibility is starting to creep in among investors. Some are acting as if the market will never go down again.
“Investors are starting to feel a little too overconfident for my liking,” Jamie Cox, managing partner for Harris Financial Group, said in a recent report. “There is a clearly a confidence I haven’t seen in 10 years.” … Tue., 09  January 2018

Who are the world’s 500 richest people?

Bloomberg Billionaires index

The Bloomberg Billionaires Index is a daily ranking of the world’s richest people. Details about the calculations are provided in the net worth analysis on each billionaire’s profile page. The figures are updated at the close of every trading day in New York.… Thu., 28  December 2017

Uber’s new profit source

Uber’s food-delivery company is outgrowing the taxi business in some cities

Uber’s fast-growing food-delivery business is now bigger and more important than Uber’s conventional taxi business in numerous cities across the world.

Uber told Business Insider that UberEats was bigger than Uber’s transportation app in 19 European cities, and Toussaint Wattinne, a general manager for UberEats in London, described UberEats as among the world’s fastest-growing food-delivery services.… Wed., 27  December 2017

Senate approves GOP tax plan

First overhaul of the US tax code in more than 30 years

In a vote in the early Wednesday morning hours, the Senate approved the final version of the first overhaul of the US tax code in more than 30 years, handing President Donald Trump and congressional Republicans their most significant legislative victory of 2017.
The bill passed along party lines, 51-48 with the final result announced by Vice President Mike Pence who presided over the vote. Sen. Jeff Flake, the last undeclared Republican, voted yes.… Wed., 20  December 2017

Jeff Bezos is the world’s newest $100 billion mogul

Black Friday sales boost Amazon

The Inc. founder’s fortune is up $2.4 billion to $100.3 billion, as the online retailer’s shares jumped more than 2 percent on optimism for Black Friday sales. Online purchases for the day are up 18.4 percent over last year, according to data from Adobe Analytics, and investors are betting the company will take an outsized share of online spending over the gifting season.… Tue., 19  December 2017

What the Disney-Fox deal means for Netflix

New super attractive  streaming service

Imagine finding Luke Skywalker, Captain America, Moana, the X-Men and the Na’vi of Pandora all housed in one streaming service. That’s what a Disney streaming service could look like now that the company is buying up most of< 21st Century Fox in a $52.4 billion deal.

The deal puts Fox’s movie studio, 20th Century Fox, under the Disney umbrella, bringing with it the studio’s intellectual property. Having 20th Century Fox’s “X-Men” and “Avatar” under the same roof as Disney’s “The Avengers” and “Star Wars” could have huge ramifications in both the streaming world and the film industry. Disney announced in August that it will pull its content from Netflix, effectively ending its relationship with the streaming service to start its own in 2019. This means Netflix users will no longer be able to watch content from Lucasfilm, Marvel, Pixar and Disney Animation.… Fri., 15  December 2017

Tencent: China’s social media giant is worth more than Facebook

Tencent is Now Worth $500 Billion and More Than Facebook

Tencent (TCTZF) has become the first Chinese tech firm valued over $500 billion. Shares of the 19-year-old company, listed on the Hong Kong Stock Exchange, hit record numbers on Tuesday, rallying to close at HK$430 to give it a market capitalization of some $522 billion—about $3 billion above Facebook’s closing valuation of $519 billion Monday. According to CNBC, Alibaba (BABA), Asia’s second-highest-valued firm and the closest rival to Tencent, comes in at a valuation of $474 billion, making the tech company the first from China to reach the landmark valuation.

Until now, membership in the half-a-trillion-dollar club belonged exclusively to American tech giants–Apple, Alphabet, Facebook, Microsoft and Amazon. Entry to the club for the company that’s little known in the West comes a week after it posted a profit of 18 billion RMB ($2.7 billion) on revenue of 65.2 billion RMB ($9.8 billion) for Q3 2017.…  Thu., 23  November 2017

Walt Disney interested by 21st Century Fox

John Malone: Walt Disney/21st Century Fox deal woul benefit both sides

Liberty Media Chairman John Malone thinks a Walt Disney purchase of some 21st Century Fox assets makes sense and would benefit both sides. “To me, it’s a logical thing for them to be studying,” Malone said at the Liberty Media annual investor meeting.

“Of all the guys in the studio business, Disney is the most unique in the sense that it owns its IP on its most important entertainment product,” Malone said. “So if you think that whole structure is going to be under stress, why wouldn’t the Murdochs want to put their stuff in and ride along in something that they’d help make bigger scale and that has this protective element of intellectual property ownership?”…  Fri., 17  November 2017

The Biotech IPO Boom Will Continue

More biotech companies to go public in the coming months

Last week early-stage biotech companies Apellis and InflaRX both went public, raising $150 million and $100 million respectively. The Wall Street debut of Erytech Pharma is expected to raise $100 million.

That will bring the biotech IPO tally for 2017 to 30 so far—handily outpacing the final tally for 2016 of 26. The amount of money raised in biotech IPOs this year is more than $1.9 billion, again surpassing last year, when biotechs raised $1.7 billion.

The environment is ripe for more biotech companies to go public in the coming months, predicted Nelson Griggs, president of Nasdaq Stock Exchange, and Jordan Saxe, senior managing director and head of healthcare capital markets at the exchange, in an interview. Here are edited excerpts from our conversation.…  Mon., 13  November 2017