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☆ Ending the LTCM Crisis Took Just One Bailout. We Should Be So Lucky Next Time.
▼ + stars: | 2023-09-25 | by ( Telis Demos | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/finance/investing/ending-the-ltcm-crisis-took-just-one-bailout-we-should-be-so-lucky-next-time-64f69b05

Persons: Dow Jones

☆ The very rich are often bad investors. Here’s why
▼ + stars: | 2023-09-25 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

But there are only about 730 billionaires in the country, according to Forbes, and almost none of them inherited longstanding generational wealth. In fact, less than 10% of the current list of billionaires are descended from anyone on the first Forbes’ rich list, published in 1982. If you get the “What?” decision wrong and the sizing decision right, it’s still unfortunate and you’re going to lose money. Every year there’s going to be volatility — one year you’re going to be up 35% and the next year you’re going to be down 25%, but in the long term it will even out to 5%. The current walkout came close to beating the longest strike in WGA history, a 1988 strike that lasted 154 days.

Persons: New York CNN —, Forbes, Victor Haghani, ”, James White, Haghani, LTCM, CNN’s, it’s, you’re, Cornelius Vanderbilt, Chris Isidore, Oliver Darcy, Laura He Organizations: CNN Business, Bell, New York CNN, Forbes, Elm Partners, Term Capital Management, Federal Reserve, Vanderbilt, Writers Guild, Writers Guild of America, WGA Locations: New York, United States, Russia, Hollywood, China, Beijing

☆ Twenty-Five Years After LTCM, Emerging Markets Keep Burning Investors
▼ + stars: | 2023-09-24 | by ( Jon Sindreu | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/finance/currencies/twenty-five-years-after-ltcm-emerging-markets-keep-burning-investors-89444ed1

Persons: Dow Jones, 89444ed1

☆ Factbox: The biggest financial crises of the last four decades
▼ + stars: | 2023-03-25 | by ( ) www.reuters.com time to read: +4 min

Fears of banking contagion remain, and investors are worried that global economies will suffer if the effects of higher interest rates torpedo more lenders. Michael Milken had helped popularize the financial instrument, with many using it as a way of funding leveraged buyouts. The country ended up getting external financial support from the International Monetary Fund and a $50 billion bailout from the United States. GLOBAL FINANCIAL CRISIS OF 2008The biggest financial crisis since the Great Depression was rooted in risky loans to shaky borrowers, which started to lose value after central banks raised interest rates in the period leading up to the crisis. EUROPEAN DEBT CRISISSpurred by the 2008 financial crisis, surging debt at some of the major European economies led to a loss of confidence in the region's businesses.

☆ U.S. poised to tighten reporting rules on $20 tln private fund sector
▼ + stars: | 2023-03-17 | by ( Douglas Gillison | ) www.reuters.com time to read: +3 min

March 17 (Reuters) - Wall Street's top regulator is set to adopt new rules aimed at bolstering oversight of systemic risk in the burgeoning, multitrillion-dollar world of private equity and hedge-funds. As proposed in January 2022, the rule would require reporting of such events to the SEC within one business day. The agency billed the new rule in part as a means of supporting the Financial Stability Oversight Council, a multi-agency risk-monitoring body also created under Dodd-Frank. The proposal offered "scant evidence" that it would enhance FSOC's monitoring for systemic risk, she said in dissenting remarks against the proposal, adding that it would likely become a tool "for government to micromanage private fund risk management." Reporting by Douglas Gillison; Editing by David GregorioOur Standards: The Thomson Reuters Trust Principles.

☆ Inside Ken Griffin's rise to one of Wall Street's most powerful people, and why politics could be next
▼ + stars: | 2023-01-23 | by ( Dakin Campbell | ) www.businessinsider.com time to read: +30 min

JB and I are not on speaking terms these days," said Ken Griffin, the billionaire hedge-fund manager, referring to JB Pritzker, the Democratic governor of Illinois. As Florida rolled back pandemic restrictions more quickly than Chicago, even more Citadel employees migrated south. Ken Griffin's hedge fund has had a run of eye-popping returns since 2020. Others worry that it gives Griffin's hedge fund an unfair advantage. Hundreds of Citadel employees, partners, and families gathered at the Orange County Convention Center in Orlando Florida.

Its ultra-loose stance has accelerated Japanese investment flows abroad, helping to turn the yen's slump into one of historic proportions. Its net international investment position, the difference between the stock of assets it holds overseas and stock of Japanese assets held by foreigners, was $3.29 trillion at the end of June. International Monetary Fund figures show that of Japan's $9.96 trillion assets overseas, around $3.7 trillion is in equity-related investments, and some $5.7 trillion in debt instruments, including official reserves. Deutsche Bank strategist Alan Ruskin says a YCC change could have spillover effects that could last for a few weeks. Meanwhile, Japanese retail foreign currency deposits at domestic banks rose to 26.58 trillion yen ($182 billion) at the end of August, up 8.3% since the start of the year.

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