Melvin Capital, once one of Wall Street’s most successful hedge funds which then lost billions in the meme stock saga, will shut down after it was hit again by this year’s market slump. Melvin Capital had $7.8 billion in assets at the end of April. The fund lost 23% in the first four months of […]
On April 20, 2022, GWG Holdings, Inc. filed for Chapter 11 bankruptcy in the United States Bankruptcy Court for the Southern District of Texas. In February 2022, the company, which sold $1.6B in life-settlement backed bonds defaulted. GWG has more than $2 billion in overall liabilities as of September 2021, along with $1.55 billion in […]
A prudent investment strategy starts with an asset allocation suitable for the portfolio’s objective. The allocation should be built upon reasonable expectations for risk and returns and should use diversified investments to avoid exposure to unnecessary risks. Both asset allocation and diversification are rooted in the idea of balance. Because all investments involve risk, investors […]
Fast-growing crypto-currency assets could pose a danger to the established financial system, a senior Bank of England official has told the BBC. Although not much of UK households’ wealth is currently held in assets such as Bitcoin, they are becoming more mainstream. Deputy Bank governor Sir Jon Cunliffe stressed that crypto-currencies had been “growing very […]
The Securities and Exchange Commission today charged United States Oil Fund LP, an exchange-traded product (ETP), and its general partner United States Commodity Funds LLC for misleading statements about limitations imposed by its sole futures commission merchant and broker. USO and USCF have agreed to pay $2.5 million in penalties to settle parallel cases by […]