Evan Katz loses second bid to unwind 2024 SEC settlement... [more]Matthias Knab, Opalesque: The U.S. Securities and Exchange Commission has denied Evan H. Katz's motion for reconsideration and modification of the settled order entered against him in September 2024, closing off a further attempt by Katz to have the sanctions reduced to a disgorgement-only ou
Hedge funds log widest daily drawdown since Covid in stock rout... [more]Global hedge funds had their steepest one-day losses since the Covid-19 pandemic as the stock sell-off deepened, according to Goldman Sachs data. As of Thursday's close, global fundamental long/short funds fell 1.4%, with TMT-focused funds down 2.7% on average. Systematic long/short funds lost 1.3%
Korea's KTCU opens tender for 400 billion won hedge fund mandate... [more]Korean Teachers' Credit Union (KTCU) is looking for four managers for a domestic hedge fund mandate of up to 400bn won (about $301m), targeting an annual return of at least 10%. The money will go mainly into equities, mezzanine securities and derivatives, through equity long/short, event-driven and
Blackstone Multi-Strategy Hedge Fund reports $106.5m in unregistered unit sales... [more]Blackstone Multi-Strategy Hedge Fund L.P. sold about $106.5m of unregistered limited partnership units on October 1 in its continuous private offering, according to an 8-K filed October 22. Most of that, $96.6m, was Class I-F units. Including parallel vehicles, the BXHF group issued about $109.5m of
Anthropic IPO faces new hurdle as NYC comptroller urges delay: Claude parent's market debut odds slide... [more]New York City Comptroller Mark Levine has urged Anthropic to delay its planned IPO until it addresses AI safety concerns. Anthropic filed a draft S-1 with the SEC on June 1, and CEO Dario Amodei has reportedly opened talks with Levine. On Polymarket, where more than $5.18m has been bet, the odds of
Hedge funds' bearish bets near five-year high as squeeze risk builds... [more]Hedge funds added stock short positions in October, pushing bearish bets close to a five-year high, according to Goldman Sachs prime brokerage data. Short sales outpaced long purchases by roughly five to one across global equities. Short leverage across Goldman's prime book is in the 99th percentile
JPMorgan sees hedge fund de-risking limiting stock downside, with chips the key gauge... [more]JPMorgan strategist Nikolaos Panigirtzoglou argues that hedge funds have cut equity exposure enough to limit further stock downside, and that their equity performance closely tracks semiconductor shares. Information technology is 28% of the MSCI ACWI but 40% of hedge fund risk capital, and semicondu
Hedge funds pile into shorts as Goldman flags stock squeeze risk... [more]Hedge funds piled into short positions in October, with short sales exceeding long purchases by roughly five to one globally, according to Goldman Sachs prime brokerage data. Net leverage among fundamental long/short funds is near a three-year low even though gross leverage has risen, so funds are r
HSBC: Gold no short-term hedge for stocks, but three forces keep long-term case intact... [more]HSBC Asset Management strategists say gold has not protected portfolios in recent equity sell-offs, because leveraged holders sell the metal to meet margin calls. They still see a long-term case built on the debasement trade, central bank reserve diversification and geopolitical fragmentation. Spot
Altimeter's Brad Gerstner says AI demand makes this boom different from dot-com... [more]Altimeter Capital founder and CEO Brad Gerstner argues that the AI rally differs from the dot-com bubble because earnings growth is driving it, not rising valuations. He points to Nvidia at 14 times next year's projected GAAP earnings and to market earnings up 26% so far this year. He calls AI deman
The big three investment banks feed hedge funds' AI-mbitions... [more]Through September, the five largest US investment banks had already beaten last year's record equities trading revenue by about $7bn, earning $67bn. Goldman Sachs, JPMorgan and Morgan Stanley took $52bn of that, with Goldman leading on more than $19bn. Looser leverage rules have let the banks financ
Ken Griffin secures $3.bn loan for NYC skyscraper after earlier Mamdani feud... [more]Ken Griffin, Vornado Realty Trust and Rudin have finalized a joint venture to build a 66-story, roughly 1,400-foot office tower at 350 Park Avenue. It is backed by a $3.3bn construction loan from seven lenders, including Wells Fargo, JPMorgan Chase and Bank of America. A Griffin affiliate will own 6
Regal unveils succession plan to staff ahead of Phil King's exit... [more]Australia's best-known hedge fund manager, Regal Partners' Phil King, will ride off into the sunset in eight months. And succession planning at the $23 billion, ASX-listed asset management empire that King co-founded more than two decades ago appears to be well under way.
Turkey orders 31 new arrests in expanding investment fund scandal... [more]Turkish prosecutors have ordered the detention of 31 people in a probe into trading in the shares of four listed companies, and 26 have been taken into custody, the Istanbul chief prosecutor's office said. The investigation followed reports and complaints from the Capital Markets Board (SPK). It cov
And, finally: That gut feeling paid off... [more]From UPI: A Texas woman visiting Maryland was convinced by a stranger to play the lottery's Racetrax game for the first time -- and won $37,951.
The nurse, who traveled to Baltimore in September to visit family and friends, told Maryland Lottery officials a stranger at the Quick Mart on Annapolis
In an era of deepfakes, phantom fortunes, and narrative warfare, the challenge of distinguishing reality from illusion has never been more acute. For those stewarding generational wealth, the stakes are existential. This 11th edition of Horizons delves into the critical quest for clarity, offering a toolkit to navigate a world rife with deception and to build a foundation of verifiable trust.
Our journey begins with a chilling investigation into
Opalesque has been publishing Technical Research (chart analysis) since April 2006. Opalesque Technical Research offers technical chart analysis with a global perspective on all major markets, including Equity Indices, Fixed Income, Currencies, and Commodities.
Opalesque Technical Research is unique compared to most available research which is fundamental in nature, and not technically (chart) oriented. In addition, most current available research is mainly equity based, and not global in nature.
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