What you need to know on Wall Street today
Thomson Reuters
Some of the world's largest hedge funds have lost money this year - or made barely any - even as markets have hit record highs.
The funds are run by firms including Bridgewater Associates, the largest hedge fund firm in the world, and Two Sigma, one of the fastest-growing firms. The weak performance is especially striking, as the S&P 500 has delivered 10.4% through July. Here are this year's returns for major funds, after fees.
In related news, this chart will give stockpickers everywhere nightmares. And John Burbank's Passport Capital, which famously shorted the subprime mortgage crisis, is rapidly shrinking.
Stock market fear is erupting as North Korea tensions mount. As a result, Jeff Gundlach's "free money" trade is already paying off. Gold is also spiking.
In Wall Street news, Barclays has hired Stephen Dainton, a former Credit Suisse executive, to be global head of equities. Goldman Sachs seized a yacht from a US oil mogul. And the CEO of Houlihan Lokey shared the three things he looks for in young Wall Street recruits.
Saudi Aramco is leaning towards listing its IPO in New York.
Snapchat maker Snap Inc. missed Wall Street's expectations for its second quarter as a public company, sending its stock diving. Here's what you need to know:
- What analysts are saying about Snap's disappointing second quarter
- A Wall Street analyst's 'hot mic' upstaged Snapchat's CEO and stole the show
- Sales of Snapchat's camera glasses are already slowing
- Snap cofounders Evan Spiegel and Bobby Murphy have promised not to sell any stock for rest of the year
Wall Street analysts had a brutal assessment of Blue Apron's prospects. Former Uber CEO Travis Kalanick is being sued by early investor Benchmark Capital over fraud allegations. And bitcoin exchange Coinbase confirmed its unicorn status with a $1.6 billion valuation.
Lastly, the future of the Hamptons is uncertain as young, rich buyers ditch mega-mansions and tennis courts.
- I spent $2,000 for 7 nights in a 179-square-foot room on one of the world's largest cruise ships. Take a look inside my cabin.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Saudi Arabia wants China to help fund its struggling $500 billion Neom megaproject. Investors may not be too excited.
- Catan adds climate change to the latest edition of the world-famous board game
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- Tired of blatant misinformation in the media? This video game can help you and your family fight fake news!
- JNK India IPO allotment – How to check allotment, GMP, listing date and more
- Indian Army unveils selfie point at Hombotingla Pass ahead of 25th anniversary of Kargil Vijay Diwas
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market