Coinbase brings tokenized US stocks onchain, but only outside America... [more]Matthias Knab, Opalesque for New Managers: Coinbase has moved its tokenized US equities natively onto Base, its own Ethereum layer-2 network, putting shares of Apple, Nvidia, Meta and Alphabet onchain for eligibl
Momentum breaks, quant rebounds: How July reshuffled hedge fund leadership... [more]Matthias Knab, Opalesque for New Managers: For six months, 2026 gave hedge funds one of their cleanest runs in more than a decade. July ended it. The PivotalPath Hedge Fund Composite Index fell 0.8% for the month, t
Citadel sold 80% of Situational Awareness portfolio, gathering huge profits... [more]By Opalesque: Citadel offloaded over 80% of the risk from the AI-focused stock portfolio it acquired from Leopold Aschenbrenner's embattled hedge fund, Situational Awareness. Citadel completed nearly 100 block trades totalling more than $4 billion in market value,
Situational Awareness, star AI hedge fund that nearly imploded, now being probed by the SEC... [more]The SEC is probing AI-focused hedge fund Situational Awareness after its leveraged bets were hit by July's sharp decline in AI stocks, wiping billions of dollars from the fund. Regulators have subpoenaed banks that supervised the fund's trading and provided financing, asking them to preserve
SEC subpoenas big banks over an AI hedge fund's leverage... [more]The SEC has subpoenaed Goldman Sachs, JPMorgan, Citigroup and Bank of America for information about Situational Awareness's trading and borrowing after the AI-focused hedge fund suffered a 67% portfolio decline in July. Regulators are examining the timing of trades that triggered margin calls and co
Hedge funds ramp up dollar shorts into Bessent's fiscal plan... [more]Hedge funds are ramping up bearish dollar bets as they await details of Treasury Secretary Scott Bessent's fiscal plan to address high US borrowing costs. Barclays said dollar selling by hedge fund clients accelerated amid persistent dollar supply in August, while demand for dollar downside hedges h
Druckenmiller: Let the bond market speak... [more]The editorial by Stanley F. Druckenmiller argues that Treasury Secretary Scott Bessent's decision to increase long-term Treasury buybacks risks interfering with the market signal provided by bond yields. The intervention comes as the administration seeks to reduce borrowing costs, but critics ar
Bessent's spotty history of financial management dredged up over new proposals... [more]Treasury Secretary Scott Bessent's latest maneuvering to manipulate the bond market led an MS NOW financial analyst to dredge up the former hedge fund manager's spotty history as a financier. As the economy continues to struggle in the second year of President Donald Trump's second term, Bessent ha
The humbling of Scott Bessent... [more]Treasury Secretary Scott Bessent is struggling to contain rising long-term borrowing costs despite doubling Treasury buybacks of longer-dated bonds. The former hedge fund manager's intervention initially pushed yields lower, but the effect quickly faded as investors remained concerned about inflatio
A rough year for bond hedge funds just got more turbulent... [more]Hedge funds investing in bonds are dealing with a choppy August, and didn't come into the late summer on a hot streak either. Debt-focused managers did not come into this turbulent stretch in a strong position. Credit hedge funds are up just 3.5% on average through July, according to industry da
The Fifth Circuit reinterprets limited partner definition for self-employment tax... [more]The Fifth Circuit has substituted an earlier opinion in a closely watched case concerning when limited partners can exclude partnership income from self-employment tax. The court rejected the Tax Court's "functional analysis test", which focused on whether a limited partner was genuinely a passive i
China's quant funds snap back in sign of resilience after rout... [more]China's quantitative hedge funds are bouncing back after suffering steep losses during a July rout, with all of the most popular strategies posting higher returns than benchmarks. Quant funds offering so-called index enhancement strategies beat stock gauges across the market. The average of 692 such
The brains who powered China's surprising AI leap... [more]Tsinghua University helped nurture a generation of AI researchers who now lead Chinese companies challenging US leaders including OpenAI and Anthropic. Among them are Z.AI co-founder Tang Jie, Moonshot AI founder Yang Zhilin and DeepSeek founder Liang Wenfeng, who previously built a hedge fund aroun
Bitcoin rally signals capital rotation from AI stocks... [more]Bitcoin's recent price surge is drawing attention from institutional investors as doubts grow over the returns from AI-related equities, according to Bill Miller IV, CIO of Miller Value Partners. In a recent interview with CNBC, Miller highlighted that long-term investors are increasingly turning to
Non-compete reform: the stakes for the UK financial services sector... [more]Proposed UK reforms to non-compete clauses could have significant implications for financial services firms, where lengthy restrictions are commonly used to prevent senior employees and investment professionals from immediately joining competitors. The changes raise questions over how firms can prot
Elliott joins hedge fund rush to Jersey... [more]Paul Singer's Elliott Management has established Elliott Advisors (Jersey) Limited, joining hedge funds including Brevan Howard, BlueCrest, Systematica and Arini in expanding on the Channel Island. Jersey offers no capital gains or inheritance taxes and a maximum personal income tax rate of 20%, whi
Four years ago, a crypto boss went missing. Now his successor has.... [more]Left on the phone of a Polish woman in 2022, it was from her older brother, Sylwester Suszek, the founder of Eastern and Central Europe's biggest cryptocurrency exchange. He had disappeared two weeks earlier from the fuel depot in southwest Poland where he kept his helicopter.
Poland's biggest crypto exchange falls, and nobody can find the man who holds the keys... [more]The Zondacrypto withdrawal crisis has frozen millions of dollars of customer funds at Poland's largest crypto exchange. CEO Przemyslaw Kral has pointed to a wallet holding about 4,500 Bitcoin, worth roughly $330 million, as evidence of solvency, but acknowledged the exchange cannot access the coins
Egypt enacts inaugural hedge fund regulation... [more]Egypt has introduced its first regulatory framework specifically governing hedge funds, establishing rules for the creation and operation of the vehicles in the country's capital markets. The move broadens Egypt's alternative investment framework and is intended to provide a regulated structure for
Phil King succession moment has been years in the making... [more]Regal Partners has been preparing for co-founder Phil King's eventual departure for years by diversifying its investment leadership and reducing key-person risk. King, who helped build Regal into a roughly A$21 billion alternative asset manager, plans to retire in 2027, with the firm moving toward a
And, finally: How to get a real Picasso - back... [more]From Newsoftheweird: Milwaukee landlord Tim Dertz was cleaning out an apartment unit after evicting its tenant when he found a painting left behind. Dertz took it to an antique dealer who recognized it as a Picasso, possibly worth up to $50,000, the Associated Press reported on Aug. 14. Dertz then c
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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Matthias Knab, Opalesque for New Managers: On July 9th, participants from 28 countries joined Opalesque's "Kant & Capital" webinar - not for a lecture, but for a workshop. The premise: after sixty years of labels - SRI, triple bottom line, ESG, impact - each of which fell short of its promise, i..
