Tashtego

Apr 2, 2015

Hedge Fund Mines Twitter for Stock Tips (Bloomberg) Tashtego, backed by early Twitter Inc. investor Spark Capital, plans to raise a fund that will use consumer sentiment and trader behavior from social networks to bet on and against U.S. stocks, said Chief Investment Officer Arthur Mateos. The Boston-based firm’s Social Equities Fund, which relies on algorithms, is expected to eventually reach $1 billion in capital, the 45-year-old said. Bank Bonuses Rise in Europe, Report Finds (Dealbook) European bonuses were up 18 percent to 136,000 pounds, or about $201,000, in 2015, while bankers’ bonuses in the United States ticked up to the equivalent of £216,000, for the same period. The snapshot of data showed that British banks had increased their bonuses by £5,000, to £126,000, and that Swiss bankers had taken a relative hit, with bonuses falling 26 percent to £162,000. Silicon Valley Bank Strengthens Its Roots (Dealbook) Silicon Valley Bank has maintained a dominant position among start-ups and venture capitalists in one of the most promising and lucrative corners of the United States economy. By the bank’s count, it serves 65 percent of all existing start-ups and many of the most prominent venture capital firms. The bank, which is based in a sprawling campus in the heart of Silicon Valley, used to let its start-up clients “graduate” to larger banks as they grew. Now, though, Silicon Valley Bank is making every effort to expand its offerings to hold on to hot technology companies like Fitbit and Square. Silicon Valley Bank’s strategy has brought it into increasing competition with the large banks that want a piece of the technology industry. Though Silicon Valley Bank is relatively small — it has a $40 billion balance sheet, compared to $850 billion for Goldman Sachs — many analysts say they think the bank will maintain its competitive edge. Treasure hunter ordered to end search for $3 billion in gold in sunken WWII ship (NYDN) Greg Brooks’ company Sea Hunters LP is no longer allowed to salvage additional items from the S.S. Port Nicholson, which was sunk by a Nazi U-boat in 1942, U.S. District Judge George Singal ruled on Wednesday. Brooks said he believed the Port Nicholson carried platinum bars from the Soviet Union that were payment to the U.S. for war supplies. His treasure hunt had led to a criminal investigation and legal action by investors who paid him millions of dollars. The judge also denied an attempt by a group of investors to win recovery rights, claims to what’s on the ship if anything is found. The judge wrote that evidence suggests there’s nothing valuable to salvage. The record, the judge wrote, suggests that all that remains is “70-year-old truck tires, fenders and miscellaneous other parts and military supplies.” The Nine Ugliest Watches of Baselworld 2015 (Bloomberg) Ulysse Nardin Erotica Hour Striker: Yes, this is exactly what it sounds like. And yes, those male/female figures do exactly what you think they do when you press the pushers. It’s really hard to have any reaction to this watch other than “Seriously? !” It’s crass, it’s tacky, and it will set you back more than a new Maserati. For Some Bond Investors, Chicago Isn’t Their Kind of Town (WSJ) Four pension funds in the nation’s third-largest city are facing a combined funding gap of about $20 billion after years of underfunding and market losses during the recession. In comparison, Chicago has a $3.5 billion annual budget for general operating expenses.