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Many über-rich people don't outsource their wealth — they hire their own chief investment officers. These money managers fly under the radar, but their investment decisions range from buying sports teams to picking hedge funds. Insider's Hayley Cuccinello got to know 10 CIOs who control the vast personal fortunes of some of the richest Americans. […]
The Tribune Tower rises above the streets of downtown Chicago in a majestic snarl of Gothic spires and flying buttresses that were designed to exude power and prestige. When plans for the building were announced in 1922, Colonel Robert R. McCormick, the longtime owner of the Chicago Tribune, said he wanted to erect “the world’s […]
REUTERS/Henry Romero Mexico buys put options from US financial institutions on oil. A change in government may see that hedge out soon. Ultimately, it looks as if the hedging strategy will remain in place. The Mexican oil hedge, or the Hacienda Hedge, is considered the biggest hedging bet on Wall Street as well as perhaps the […]
YouTiube A YouTuber has combined the music of Goldman Sachs President David Solomon with a motivational video from Bridgewater Associates founder Ray Dalio. Solomon creates music under the name DJ D-Sol, and has over 425,000 monthly listeners on Spotify. Check out the video below. Wall Street’s song of the summer is almost certainly going to […]
“QUANT” (quantitative) hedge funds, which craft elaborate algorithms to make trading decisions, rely on access to information. That used to mean market data, such as prices and trading volume. But some now seek an edge in novel sources. An industry has sprung up to serve them with, and help them analyse, “alternative” data, such as […]
Riccardo Savi/Getty Brad Pitt is reportedly spending time with MIT Media Lab professor Neri Oxman — though the relationship isn’t romantic. Oxman is reportedly dating billionaire hedge fund manager Bill Ackman. Oxman was born in Israel, coined the term and pioneered the field of “material ecology,” and has her work featured in museums across the […]
Reuters/ Brian Snyder Institutional investors are pulling out of Pershing Square Capital at a “rapid pace,” according to the Wall Street Journal. Pershing Square’s total assets reportedly declined by 12% in the first quarter of 2018, falling to a total of $ 8.2 billion. Institutional investors are pulling money out of Pershing Square Capital at […]
EXCLUSIVE: You may have heard of Numerai — the unorthodox hedge fund that crowdsources predictive stock market models from data scientists around the world. It is now seeking more brain power and announced today that it is giving away $ 1 million worth of cryptocurrency to Kaggle users who sign up. The San Francisco-based hedge […]
Thomson Reuters Sebastian Ridd, who had been head of program trading and cash trading in the US at Citigroup, is joining giant hedge fund Millennium Management. His departure from Citigroup, along with that of global head of cash trading Armando Diaz, represents a shift at the top of the US bank’s stock trading business. Millennium Management, the […]
REUTERS/Steve Marcus Phil Falcone and his wife just listed their Upper East Side townhouse for $ 39 million. It’s five floors and 13,300 square feet. They bought the property in 2004 for $ 10.4 million. Philip Falcone is ready for a bigger house. The former hedge fund manager is listing his Upper East Side townhouse for […]
