Aug 14, 2023

Tiger Cubs Pared Tech Stakes as Other Asset Managers Dove In Argentine Shops Hit With 20% Overnight Price Hike After Election Ukraine Recap: Russia Launches ‘Waves’ of Drones, Missiles Asia Stocks Look Mixed After US Tech Stocks Gain: Markets Wrap US Weighs Making Banks Issue Long-Term Debt to Bolster Stability Buffett’s Berkshire Cuts Activision, Unveils New Homebuilder Bet Esmark Offers to Buy US Steel for Cash, Trumping Cliffs Wheat Climbs After Russia Fires on Black Sea Ship for Inspection Treasury Yields Inch Toward New High for Year on Inflation Woes Bankers Hate Saying ‘ESG’ But Are Hardwiring It Into Their Work U.S. tech giants, yields ticked up in choppy session Shrinking Shale Output Sets In as Explorers Dial Back Drilling Schwab Says TD Ameritrade Deal Spurring Retail, Advisory Attrition Michael Burry Exits Alibaba, JD.com Stakes in Portfolio Overhaul Zero-Day Options Cement Presence in Reversal-Ridden Stock Market Grove Collaborative Changes CEO, Raises $10 Million After SPAC Flameout Banks Pile Into High-Grade Bond Market Ahead of Summer Lull Apache Says Talks Advancing on Floating LNG Site Between Guyana, Suriname Argentina to Devalue Peso by 18% to 350 Per Dollar, Official Says Canadian spending habits showing early signs of slowing, RBC report finds Dale Jackson: Is your mutual fund really an overpriced ETF? Young Canadians flocking to First Home Savings Accounts, banks say Spending on fun isn’t impossible — it’s just hard, experts say Majority of parents worry about their kid's financial future: Survey Bank of Canada delivers growth and security to retirement portfolios What to consider before budgeting with the cash-stuffing method Northwest Territories to increase minimum wage by nearly 5.6 per cent WonderFi interim CEO on possible changes now that crypto merger is finalized Debt, savings worries up as higher interest rates and costs take a toll: surveys Set your investment portfolio for summer, but don’t forget it Canada Post, TD end MyMoney loan program after less than a year Bank stocks versus GICs: Battle of the income titans Government benefits helped lower-income households afford rising cost of living: PBO CPA Canada says provincial organizations severing ties over governance disagreements Interest rate shock won't hit fixed-rate mortgage borrowers until 2025, expert says What you need to know to decide if trip cancellation insurance is worth the cost Interest rates could come down when economic slowdown happens, strategist says 8 tax-free savings account misunderstandings that could be costly Banks Pile Into High-Grade Bond Market Ahead of Summer Lull UK Home Sales Delayed by Bank of England Payment Systems Failure Argentine Markets Brace for Turmoil on Populist’s Election Upset Finding the right investments for a FHSA can be tricky JPMorgan Sees ‘Vicious Cycle’ as Top China Trust Misses Payment China Stocks Set to Erase Politburo Gains as Economy Struggles UK Pollster YouGov Eyes NY Listing: The London Rush Dubai’s Housing Boom Starts to Spread to the City’s Outskirts Country Garden to Suspend Trading of at Least 10 Onshore Bonds Swedes Signal Optimisim on Home Prices for Third Straight Month Blackstone Eyes More Japan Property After Selling $4.5 Billion China’s Economic Recovery Faces Fresh Risks From Property Crisis China Ending Years-Long Crackdown Restores Optimism as Tech Giants Report Britain’s Landlord Selloff May Be Much Bigger Than First Thought The Fed Is Playing a Waiting Game to Try to Avoid a Recession China’s Economic Woes Deepen With Housing Market Slump Chinese Trust Company Clients Say Wealth Product Payout Delayed Bond Market Sees No End to Tumult as Fed Casts a Hawkish Shadow Country Garden Poses New Risk for China’s Economy TSMC Growth Abroad Is Welcome, Taiwan Presidential Hopeful Says Mercedes Targets Luxury Buyers in Malaysian All-Electric Push Beijing Tries to Regulate China’s AI Sector Without Crushing It Tiger Cubs Pared Tech Stakes as Other Asset Managers Dove In PwC Australia Chases ‘Unprofessional’ Partner Despite Court Loss NYC’s Randall’s Island Migrant Facility Set to Open Next Week Clorox Takes Down Some IT Systems After ‘Unauthorized Activity’ Argentine Shops Hit With 20% Overnight Price Hike After Election Ukraine Recap: Russia Launches ‘Waves’ of Drones, Missiles Montana Youth Climate Activists Get Historic Win in State Case US Weighs Making Banks Issue Long-Term Debt to Bolster Stability Buffett’s Berkshire Cuts Activision, Unveils New Homebuilder Bet Esmark Offers to Buy US Steel for Cash, Trumping Cliffs Amazon Hardware Chief Dave Limp to Retire, WSJ Says Wheat Climbs After Russia Fires on Black Sea Ship for Inspection Cargojet CEO sees e-commerce rebound as revenue dips Cargojet cutting costs as it reports Q2 profit and revenue down from year ago mark Boralex shares jump 6% after reporting Q2 profit up from year ago Two Danny Meyer Restaurants Will Close With Their NYC Homes Becoming Migrant Shelters Ukraine Recap: Russia Launches ‘Waves’ of Drones, Missiles Asia Stocks Look Mixed After US Tech Stocks Gain: Markets Wrap Montana Youth Climate Activists Get Historic Win in State Case Alberta Will Never Comply with Federal Clean Power Grid Plan, Premier Vows Esmark Offers to Buy US Steel for Cash, Trumping Cliffs Wheat Climbs After Russia Fires on Black Sea Ship for Inspection Treasury Yields Inch Toward New High for Year on Inflation Woes Shrinking Shale Output Sets In as Explorers Dial Back Drilling Apache Says Talks Advancing on Floating LNG Site Between Guyana, Suriname Biden Urges Detroit Automakers, UAW to Reach ‘Fair’ Labor Deal Steel CEO Who Fights With Goldman Now Takes on US Industry Icon US Says Mountain Valley Pipe May Pose ‘Risk,’ Orders Inspections Hawaiian Electric Drops as Lawyers Probe Cause of Deadly Maui Wildfires Ruble Crashes Through 100 Per Dollar Despite Central Bank’s Move Billionaire Rokos’s Hedge Fund Bet Billions on Tech in the Second Quarter Javier Milei Brings Uncertainty as Wall Street Weighs Argentina Vote Free Marketeer Leading Argentine Election Seen Rocking Commodities Milei’s Plan for Argentina: Dollarization and Scrapping Taxes Amazon Loses Key Backer Four Years Into Plan to Eliminate Carbon Emissions ​Economists expect rise in headline inflation number for July Bank of Canada paper looks at possible gaps in a cashless society The Daily Chase: Cargojet revenue falls, Tesla shares under pressure 'The saving grace for agriculture': Farmers look to irrigation amid climate woes Jimmy Pattison rebuffs consensus, remains bullish on the economy The Daily Chase: Air Canada and Sleep Country reports earnings The Daily Chase: Canadian Tire, Cineplex deliver earnings; U.S. inflation accelerates U.S. core CPI posts smallest back-to-back increases in two years The Daily Chase: 30 companies on the TSX report today U.S. stocks close well off lows as dip buyers emerge The Daily Chase: 13 companies on the TSX report results today ​Long awaited economic slowdown has begun: Economists ​The Daily Chase: Canada loses jobs in July; Amazon earnings impress Canada’s economy sheds jobs but wage growth stays high ​This is what economists are expecting from Friday's national jobs report Toronto home sales and prices up from last July, down from June: TRREB ​The Daily Chase: It's a big earnings day on the TSX ​Expect interest rates to remain high until 2025: former BoC governor The Daily Chase: U.S. credit rating downgraded; Cameco quarterly results Ukraine Recap: Russia Launches ‘Waves’ of Drones, Missiles Georgia Court Probing Donald Trump Rejects ‘Fictitious Document’ Report Social Media Laws Need Review, Biden Team Tells Supreme Court Argentina to Devalue Peso by 18% to 350 Per Dollar, Official Says US Says Mountain Valley Pipe May Pose ‘Risk,’ Orders Inspections Quebec government says it is open to studying whether to relaunch nuclear reactor Javier Milei Brings Uncertainty as Wall Street Weighs Argentina Vote Free Marketeer Leading Argentine Election Seen Rocking Commodities Milei’s Plan for Argentina: Dollarization and Scrapping Taxes Trump Faces Hush-Money Trial Under Judge Who Rejected Recusal Sunak Was Warned of Health Risk Posed by UK Migrant Barge Plan Key Takeaways From Argentina’s Primary Vote Surprise Ecuador Candidates Struggle to Stand Out After Rival’s Killing German Foreign Minister’s Plane Stranded in UAE En Route to Australia South Africa Likely to Keep Preferential US Trade Access, Envoy Says Argentine Markets Brace for Turmoil on Populist’s Election Upset Fitch Spares Israel’s Rating With Tepid Warning on Overhaul Risk Poland’s Ruling Party Wields Referendum to Mobilize Support Long way home: Blamed for affordability crisis, Liberals look to pivot on housing TSMC Growth Abroad Is Welcome, Taiwan Presidential Hopeful Says Mercedes Targets Luxury Buyers in Malaysian All-Electric Push Beijing Tries to Regulate China’s AI Sector Without Crushing It Tiger Cubs Pared Tech Stakes as Other Asset Managers Dove In Clorox Takes Down Some IT Systems After ‘Unauthorized Activity’ Argentine Shops Hit With 20% Overnight Price Hike After Election Buffett’s Berkshire Cuts Activision, Unveils New Homebuilder Bet Amazon Hardware Chief Dave Limp to Retire, WSJ Says Social Media Laws Need Review, Biden Team Tells Supreme Court Grove Collaborative Changes CEO, Raises $10 Million After SPAC Flameout Latin American Payments Provider DLocal Explores Potential Sale Billionaire Rokos’s Hedge Fund Bet Billions on Tech in the Second Quarter Celsius to Poll Customers on Launching New User-Owned Company LA School System Kicks Off School Year With Municipal Bond Sale Amazon Loses Key Backer Four Years Into Plan to Eliminate Carbon Emissions Ford CEO Predicts 1,000% Growth for In-Car Software Services Mastercard to Buy Stake in MTN’s $5.2 Billion Fintech Unit PayPal Names Intuit’s Alex Chriss CEO, Replacing Schulman Evergrande’s Troubled EV Maker Agrees to $500 Million Share Sale The U.S. Fed is failing in four ways: Mohamed A. El-Erian Apple, JPMorgan turn to pay now grow later Remote Working Boom Is Huge for College Towns Like Knoxville Walmart flashes a warning sign to the entire consumer economy: Andrea Felsted Millennials are finally spending like grown-ups Dismal U.S. GDP report raises the odds of recession this year: Gary Shilling Musk is wrong for Twitter even if deal math works out Chocolate bunnies can teach us to save our food supply The Fed has made a U.S. recession inevitable America's oil reserve weapon risks misfiring Four-day workweeks can burn you out U.S. Fed expects a soft landing. Don't count on it Markets are pushing Fed into developing-economy territory Commodity traders go from bonanza to bailout plea Putin's war shows West must clean up dirty money Salary transparency is good for everyone Microsoft's US$69B Activision deal could be a blunder What if the oil market bulls are wrong and this lonely bear is right? Canada's trucker protest may spread from Ottawa to U.S. Billionaire Rokos’s Hedge Fund Bet Billions on Tech in the Second Quarter Javier Milei Brings Uncertainty as Wall Street Weighs Argentina Vote Biggest Treasury ETF Sees Largest Exodus Since 2020 Meltdown Argentine Markets Brace for Turmoil on Populist’s Election Upset ETFs May Account for 10% of Bitcoin Market Value If Approved, Bernstein Says New China Contagion Risks Emerge as Threat to Riskier Assets More Bitcoin ETF Decisions Are Already Looming After SEC Declines to Rule SEC Delays Decision on ARK 21Shares Bitcoin ETF Filing Latest Deadline in Bitcoin-ETF Race Looms The Short-Volatility Trade Is Back With ETFs Sucking In Billions Hedge Fund Alum George Noble Shutters New ETF After 59% Plunge Energy Stocks, Long a Laggard, Gain Ground on Sturdy US Growth Bitcoin Flashes Signals of Possible Spike in Volatility After Historic Lull Exuberant Homebuilder Rally Runs Counter to Housing Market Woes Cathie Wood Says SEC Will Approve Multiple Bitcoin ETFs at Once Fired-Up Traders Get Burned in 'Everything Selloff' Bitcoin Loses Mojo After First-Half Rally Fails to Reignite Enthusiasm Atlassian Jumps on Cloud Forecast, Quieting Slowdown Fears Introducing the ‘No Downside’ Exchange-Traded Fund BCE You are now being redirected to the BCE.ca website (Bell Canada Enterprises), where you can view our Accessibility plan, and submit your feedback using our Accessibility webform. Hema Parmar, Bloomberg News A pedestrian walks along Wall Street near the New York Stock Exchange (NYSE) in New York, U.S., on Monday, July 20, 2020. U.S. stocks fluctuated in light trading as investors are keeping an eye on Washington, where lawmakers will begin hammering out a rescue package to replace some of the expiring benefits earlier versions contained. Photographer: Michael Nagle/Bloomberg , Bloomberg (Bloomberg) -- Tiger Global Management, Maverick Capital and other so-called Tiger Cubs trimmed their holdings in technology stocks during the second quarter, taking a different tack than other large money managers who loaded up on the sector. Chase Coleman’s Tiger Global and Lee Ainslie’s Maverick shrank their tech stakes by 5,2% and 3.5%, respectively, while Steve Mandel’s Lone Pine Capital cut its positions by 2.4%. Philippe Laffont’s Coatue Management, a long-time tech bull, reduced its stakes in some of its biggest holdings, including Nvidia Corp., Meta Platforms Inc., Tesla Inc. and Netflix Inc. Tiger Cubs are so-called because their founders are alumni of Julian Robertson’s Tiger Management. The shift may be an effort to rebalance portfolios or lock in profits after tech shares surged in the second quarter. The tech-heavy Nasdaq 100 climbed 15% in the period. Rival hedge funds, endowments, family offices and other institutional investors, meanwhile, boosted their exposure to tech more than any other sector, according to a Bloomberg analysis of quarterly regulatory filings Monday. Tech stocks accounted for almost a quarter of the equity market value exposure of more than 5,800 asset managers at midyear, an increase of 1.5% from the end of the first quarter. Rokos Capital Management bought more than $2.7 billion shares of the Invesco QQQ Trust, which tracks the performance of the Nasdaq 100. Whale Rock Capital Management increased its tech exposure by 5%, while Third Point LLC’s rose by 7.9%, adding a sizable stake in Amazon.com Inc. Read More: Rokos Hedge Fund Bet Billions on Tech in the Second Quarter Viking Global Investors, another Tiger Cub, boosted its tech allocation by 3.2%, adding to its position in Microsoft and taking new stakes in Nvidia and Datadog Inc. Coatue more than doubled its Amazon holding and increased the number of Microsoft shares it owns by 68%. Monday was the deadline for thousands of institutional investors, including hedge funds, pension funds and endowments, to report certain US equity holdings to the Securities and Exchange Commission through quarterly 13F filings. Other highlights: D1 Capital Partners, which doesn’t typically wager on real estate, increased its exposure to the sector by 14%, betting on apartment real estate investment trusts Tiger Global ramped up its stake in buyout giant Apollo Global Management Inc. by more than 300%. It held 12.3 million shares at the end of the of the second quarter, which is still far fewer than it has held historically Michael Burry’s Scion Asset Management ditched its stakes in Alibaba Group Holding Ltd. and JD.com Inc., betting instead on Expedia Group Inc., which became the hedge fund’s biggest position --With assistance from Natalie Wong. ©2023 Bloomberg L.P.