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☆ Sam Bankman-Fried was just convicted. Where does crypto go from here?
▼ + stars: | 2023-11-03 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

In today's big story, we're looking at Sam Bankman-Fried's conviction and what it means for the future of crypto. Sam Bankman-Fried, the crypto industry's most recognizable face (and head of hair), was found guilty of seven counts of fraud and conspiracy on Thursday night. Charges against Bankman-Fried included wire fraud, conspiracy to commit wire fraud, conspiracy to commit securities fraud, conspiracy to commit commodities fraud, and conspiracy to commit money laundering. The conviction came, perhaps fittingly, on the first anniversary of the CoinDesk scoop that sent FTX, the crypto exchange Bankman-Fried co-founded and led, into a tailspin. The downfall was swift, with Bankman-Fried resigning as CEO and FTX collapsing just over a week after the initial report.

Persons: —, Katie Notopoulos —, Linda Yaccarino, Sam Bankman, Chelsea Jia Feng Down, Crypto, SBF, FTX, Fried, Katie Balevic, Jacob Shamsian, Katie, Chelsea Jia Feng, Miami —, That's, Brian Snyder Jamie Dimon, Jeff Gundlach, Gundlach, Mike Blake, Jack Dorsey, Samantha Lee, Janet Yallen, Sheryl Crow, Missy Elliott, isn't, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Bankman, Alameda Research, Wall, BlackRock, PayPal, JPMorgan, Microsoft, Tech, Financial, Labor Statistics, Hall, Today Locations: FTX's, New York City, San Diego, London, New York

☆ BlackRock's Rick Rieder: Don't underestimate the resilience of the U.S. economy
▼ + stars: | 2023-11-02 | by ( Natalie Zhang | ) www.cnbc.com time to read: +1 min

BlackRock's Rick Rieder said this week that while the economy is slowing, he believes it can rebound. "I call the U.S. economy, the polyurethane economy because it flexes, adjusts like a Tempur-Pedic bed. It can take some pretty significant shots, and it just rebounds," Rieder told CNBC's "ETF Edge" on Monday. Rieder, who also oversees BlackRock's Global Allocation team, thinks that people are still going to buy equities despite the current demand for Treasury bonds. I don't think so, but I think equities will do their job.

Persons: Rick Rieder, Rieder, CNBC's, I've Organizations: BlackRock's, Treasury Locations: U.S, Europe

☆ Morgan Stanley’s new CEO inherits rich pickings
▼ + stars: | 2023-11-02 | by ( John Foley | ) www.reuters.com time to read: +7 min

A good place to start is outside Morgan Stanley’s home market. Morgan Stanley’s two last big acquisitions were chunky, at a combined $20 billion, but also filled niches. E*Trade, an online brokerage, brought millions of households and company employees that Morgan Stanley hadn’t previously served. Eaton Vance, a U.S. asset manager, peddles investment products that Morgan Stanley now funnels through sales teams in far-flung markets. CEO Jane Fraser shows no inclination to sell private banking, which for now sits within the group’s $756 billion global wealth management bucket.

Persons: Ted Pick’s, Morgan Stanley, Pick, James Gorman, Morgan, Gorman, Germany’s, Britain’s, Morgan Stanley’s, Morgan Stanley hadn’t, Eaton Vance, Smith Barney, watchdogs, Jane Fraser, It’s, Noel Quinn’s, Ping, Colm Kelleher, Ted Pick, Peter Thal Larsen, Thomas Shum Organizations: Reuters, Credit Suisse, McKinsey ., Morgan, Reuters Graphics Reuters, Infrastructure, Citi, U.S, HSBC, HK, UBS, Thomson Locations: U.S, American, Asia, Pacific, Japan, India, China, French, Europe, Switzerland, HK, Swiss

☆ The biggest debate in tech
▼ + stars: | 2023-11-02 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, we're looking at the tech industry's debate over whether AI poses a real threat to humanity. The big storyBig Tech's big lieAP Photo/Julia Nikhinson; Arantza Pena Popo/InsiderWant to get someone in tech riled up? The private event, which had an exclusive guest list, has been criticized for favoring Big Tech executives over actual AI experts. "When big tech companies, big startups, and powerful VCs start calling for regulation of their hottest new technology, something is very wrong," Alistair Barr, Insider's global tech editor, told me.

Persons: —, Heidi Klum's, Klum, Julia Nikhinson, Arantza Pena Popo, Andrew Ng, Ng, Big, BlackRock's Larry Fink, Spencer Platt, Elon Musk, Alistair Barr, It's, Alistair, Insider's Beatrice Nolan, Sam Bankman, Aaron Schwartz, Stanley Druckenmiller, Druckenmiller, Tyler Le, SBF, Wendy Lee, Alba Santaliestra, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Fed, Tech, Google, Australian Financial, Big Tech, Getty Images Tech, Wired, Xinhua, Getty, Market, Apple, YouTubers, YouTube, Mexico City Locations: Israel, Muertos, Mexico, New York City, San Diego, London, New York

☆ BlackRock is jumping into one of the hottest sectors on Wall Street
▼ + stars: | 2023-11-01 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

This post originally appeared in the Insider Today newsletter. In today's big story, we're looking at a Wall Street giant jumping into one of the hottest sectors in finance. Similarly, a Google Brain cofounder said Big Tech companies are lying about AI risks to shut down competition. It's the latest example of how Big Tech can wreak havoc on smaller players overnight. The Insider Today team: Dan DeFrancesco, senior editor and anchor, in New York City.

Persons: —, Julia Nikhinson, Arantza Pena Popo, BlackRock, Larry Fink, Insider's Rebecca Ungarino, Rebecca, It's, Blackstone, BlackRock's Larry Fink, Spencer Platt, Aaron Schwartz, that's, Charlie Munger isn't, Warren Buffett's, it's, Tyler Le, Ksenia Yudina, Gen Z's, Gen, Vegas Wendy Lee, Wendy Lee, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Street, KKR, Getty, Greenwich Economic, Xinhua, Federal Reserve, Big Tech, Market, Sin City Locations: Greenwich, Vegas, Las Vegas, Sin, New York City, San Diego, London, New York

☆ Larry Fink’s next M&A may go in surprise direction
▼ + stars: | 2023-11-01 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +8 min

Reuters GraphicsTIPPING THE SCALESThe shift to low-fee products helped BlackRock’s assets under management swell to more than $9 trillion at the end of September. BlackRock’s history with Blackstone means a reunion with Stephen Schwarzman’s $110 billion firm is a persistent Wall Street rumor. BlackRock’s funds operate under a single name, so uniting with Carlyle (CG.O) or Apollo Global Management (APO.N) would pose a branding challenge. Fink might covet MSCI (MSCI.N), the $38 billion firm which aggregates many of the benchmarks tracked by BlackRock’s ETFs. Given Fink’s long record of pulling off opportunistic and transformational deals, it would be foolish to bet against him springing one last surprise.

Persons: Larry Fink, Fink, Merrill, Rowe Price, Janus Henderson, Blackstone, Stephen Schwarzman’s, Carlyle, covet, MSCI, Michael Bloomberg, doesn’t, LSEG –, Peter Thal Larsen, Thomas Shum, Streisand Neto Organizations: CNBC, New York Stock Exchange, Reuters, BlackRock, Blackstone, Barclays Global Investors, Credit Suisse, UBS, nab, Graphics, Apollo Global Management, London Stock Exchange, Thomson Reuters, New, Bloomberg, Wall Street, New York Times, LSEG – Bloomberg, Thomson Locations: New York City, U.S, BlackRock, Boston, Swiss, New York, United States

☆ The US economy is surging – but problems elsewhere could still torpedo profits for big companies like Apple and Tesla
▼ + stars: | 2023-11-01 | by ( Huileng Tan | George Glover | ) www.businessinsider.com time to read: +6 min

The US economy is surging, with growth coming in at a hotter-than-expected 4.9% for the third quarter. But problems elsewhere could still be bad news for big US companies, including Apple and Tesla. China's slowing economy and the war between Israel and Hamas are both potential headwinds, according to analysts. AdvertisementAdvertisementThe China challengeThat's bad news for mega-cap US firms such as Apple and Tesla, which count the Asian nation as a major market. On balance, risks to global growth continue to be skewed to the downside," the International Monetary Fund said in its Global Financial Stability report published last month.

Persons: —, Ukraine — that's, headwinds, Goldman Sachs, GfK, Michael Field, it's, Tom Donilon, Susan Li, Li Organizations: Apple, Service, Nvidia, Intel, Nike, China —, Morningstar Research, stoke, of America, DuPont, Procter, Gamble, International Monetary Fund Locations: Israel, China, Ukraine, Beijing, BlackRock, Iran

☆ Cryptoverse: As good as gold? Spot bitcoin ETFs aim to whip up US demand
▼ + stars: | 2023-10-31 | by ( Suzanne Mcgee | ) www.reuters.com time to read: +5 min

Mainstream investment giants such as BlackRock (BLK.N) and Fidelity, as well as crypto-focused firms like Grayscale, have filed applications for spot bitcoin ETFs. U.S. crypto firm NYDIG estimates demand for a spot bitcoin ETF at around $30 billion. Their calculation compares the sizes of the gold and bitcoin ETFs - $210 billion versus $28.8 billion, respectively - and adjusts them for their relative volatility. BlackRock declined to comment on its pending spot bitcoin ETF, other than to confirm that it is still awaiting final SEC approval. His forecast is based on how demand evolved in smaller markets where spot bitcoin ETFs already exist, such as Canada.

Persons: Dado, Dave Mazza, George Gagliardi, cryptocurrencies, bitcoin, Todd Sohn, Steven McClurg, Crypto, Matthew Sigel, Matthew Hougan, Steve Sosnick, Suzanne McGee, Ira Iosebashvili, Michelle Price Organizations: REUTERS, Roundhill Investments, Fidelity, U.S . Securities, Exchange, Coromandel Wealth Management, Strategas Securities, Boston Consulting, BlackRock, SEC, Bitwise Investments, Interactive, Thomson, Reuters Locations: U.S, BlackRock, Lexington , Massachusetts, Canada

☆ Bitcoin could hit $150,000 by 2025, predicts Bernstein
▼ + stars: | 2023-10-31 | by ( Melina Khan | ) www.cnbc.com time to read: +2 min

The price of bitcoin could rise to $150,000 by 2025, Bernstein said Tuesday in a note citing optimism about a bitcoin exchange-traded fund. Bernstein analyst Gautam Chhugani said the firm expects the U.S. Securities and Exchange Commission to approve a bitcoin ETF by the first quarter of 2024. The only similar product is Grayscale's Bitcoin Trust , or GBTC, which presently holds around 3% of outstanding bitcoin, according to the note. Last week, the price of bitcoin reached $35,000, its highest level since May 2022. However, the court ruling does not guarantee the SEC will approve a bitcoin ETF.

Persons: Bernstein, Gautam Chhugani, Chhugani, Gary Gensler, FTX, Sam Bankman, Fried Organizations: U.S . Securities, Exchange Commission, SEC, BlackRock, Binance, CNBC

☆ BlackRock's next high-stakes bet: lending out cash
▼ + stars: | 2023-10-31 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +11 min

Goldstone was referring to a type of business-development company, an investment vehicle widely used in the private-credit market. The vehicle Condor allocated to is a slice of BlackRock's $81 billion private-credit business, which is part of the wider $317 billion alternative-assets platform. 'Size matters'In the summer, BlackRock executives teased out their focus on private credit and fixed income broadly during an investor-day presentation. BlackRock's string of private-credit developments adds up to a long-term bet that this dynamic will continue. "That, in essence, is the paradox of private credit."

Persons: David Goldstone, Goldstone, BDC, it's, hasn't, Rowe Price, Franklin Templeton, Blackstone, Axel Springer, Greg Greifeld, Greifeld, Tim Clarke, Rob Kapito, We've, Jim Keenan, BDCs, Keenan, Clarke, PitchBook, they're, Larry Fink, " Fink, Merrill Lynch, BlackRock, Jared Gross, J.P, Phil Tseng, BlackRock's, Gross, Morgan Organizations: Condor Capital Wealth Management, Condor, BlackRock, BlackRock doesn't, Federal Reserve, Fidelity, Apollo, KKR, Growth, BlackRock TCP Capital Corp, BlackRock Capital Investment Corp, Kreos, Barclays, Tennenbaum Capital Partners, Morgan, who's Locations: New Jersey, BlackRock, PitchBook, Banks, London

☆ Why BlackRock's new Flexible Income ETF emphasizes "international" right now
▼ + stars: | 2023-10-30 | by ( Bob Pisani | ) www.cnbc.com time to read: 1 min

RELATED VIDEOS12:40 Why BlackRock's new Flexible Income ETF emphasizes "international" right now08:13 BlackRock's CIO on markets and what he calls "the polyurethane economy"21:58 ETF Edge, October, 30 202306:13 ETF Edge: What's the year-end investment outlook? 25:05 ETF Edge, October 27, 202307:10 Vanguard leadership on interest rate conundrums

Organizations: Edge

☆ BlackRock's CIO on markets and what he calls "the polyurethane economy"
▼ + stars: | 2023-10-30 | by ( Bob Pisani | ) www.cnbc.com time to read: 1 min

RELATED VIDEOS08:13 BlackRock's CIO on markets and what he calls "the polyurethane economy"12:40 Why BlackRock's new Flexible Income ETF emphasizes "international" right now21:58 ETF Edge, October, 30 202306:13 ETF Edge: What's the year-end investment outlook? 25:05 ETF Edge, October 27, 202307:10 Vanguard leadership on interest rate conundrums

Organizations: Edge

☆ Watch now: ETF Edge with BlackRock's CIO of Global Fixed Income and head of iShares
▼ + stars: | 2023-10-30 | by ( Bob Pisani | ) www.cnbc.com time to read: 1 min

[The stream is slated to start at 1:00 PM ET. Please refresh the page if you do not see a player above at that time.] CNBC's ETF Edge is dedicated to the fastest-growing trend in investing right now: ETFs. Every Monday, Bob Pisani will be joined by a panel of top market participants to offer educational and actionable advice to help you build your best portfolio.

Persons: Bob Pisani Organizations: Edge

☆ Goldman Sachs hires BlackRock executive for unit serving third-party wealth product providers
▼ + stars: | 2023-10-30 | by ( Saeed Azhar | Thomson Reuters | Saeed Azhar Is A Reuters Financial Journalist On The U.S. Banking Team Covering Wall Street'S Biggest Lenders. He Focuses On Goldman Sachs | ) www.reuters.com time to read: +1 min

People walk in the Goldman Sachs global headquarters in Manhattan, New York, U.S., November 15, 2021. Weiss joins Goldman Sachs as managing director as head of so-called "wealth customized solutions" for the U.S, according to a internal memo seen by Reuters. Goldman Sachs clients for these products include large banks' wealth management divisions, independent broker-dealers and registered independent advisors. Weiss was head of separately managed accounts (SMAs), models and portfolio consulting at BlackRock (BLK.N), according to the Goldman memo. Goldman Sachs Asset Management wants to offer tailored portfolios across both public and private asset classes, said Padi Raphael, head of third party wealth management at the bank.

Persons: Goldman Sachs, Andrew Kelly, Gregory Weiss, Weiss, Goldman, Merrill Lynch, Padi Raphael, Saeed Azhar, Lananh Nguyen, Chizu Organizations: REUTERS, U.S, Reuters, BlackRock, UBS, Goldman, Management, Thomson Locations: Manhattan , New York, U.S, BlackRock

☆ ETF Edge, October, 30 2023
▼ + stars: | 2023-10-30 | by ( Bob Pisani | ) www.cnbc.com time to read: 1 min

RELATED VIDEOS21:58 ETF Edge, October, 30 202312:40 Why BlackRock's new Flexible Income ETF emphasizes "international" right now08:13 BlackRock's CIO on markets and what he calls "the polyurethane economy"06:13 ETF Edge: What's the year-end investment outlook? 25:05 ETF Edge, October 27, 202307:10 Vanguard leadership on interest rate conundrums

Organizations: Edge

☆ ETF Edge: What's the year-end investment outlook?
▼ + stars: | 2023-10-30 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailETF Edge: What's the year-end investment outlook? CNBC’s Bob Pisani on ‘ETF Edge’ with BlackRock's Rick Rieder discuss investing in a world with five percent interest rates.

Persons: Bob Pisani, Rick Rieder

☆ Analysis: Three years after DirectBooks, US bond market still phoning it in
▼ + stars: | 2023-10-30 | by ( Shankar Ramakrishnan | Thomson Reuters | Shankar Ramakrishnan Has Nearly Years Of Financial Journalism Experience In Writing | ) www.reuters.com time to read: +6 min

There is also some concern about job losses and loss of market access by smaller banks. Changing an organization's behavior is difficult and takes sustained effort, said DirectBooks CEO Rich Kerschner. Interest in automation grew as desks struggled with corporate bond volumes that touched a record $1.78 trillion in 2020. Three years into it, only a small proportion of orders and allocation messages for a new bond were going through DirectBooks. Once in place, hundreds of investors using OMS platforms could send their order messages and receive allocation messages through DirectBooks, said Kerschner.

Persons: Carlo Allegri, Rich Kerschner, Spencer Lee, salespeople, Daniel Botoff, Goldman Sachs, Morgan Stanley, DirectBooks, Chris Sztam, BlackRock's Aladdin, RBC's Botoff, Shankar Ramakrishnan, Anna Driver Organizations: New York Stock, REUTERS, Bloomberg, underwriters, RBC Capital Markets, Bank of America, Barclays, BNP, Citi, Deutsche Bank, JPMorgan, P Global Market Intelligence, Development, Thomson Locations: Manhattan, New York City , New York, U.S, Wells, DirectBooks, Charles

☆ Spiking Treasury yields are triggering pain in stocks. 3 experts discuss the renewed threat of bond vigilantes and what else could move markets.
▼ + stars: | 2023-10-29 | by ( Laila Maidan | ) www.businessinsider.com time to read: +6 min

Investors are now tasked with trying to understand where bond yields go next, and what the drivers of those yields would be. Forget about the technical charts, he says — they are not driving the bond market right now. While Fed policy has consequences for the bond market, investors drive the yield, Johnson said. That means trying to predict where bond yields will settle will be very hard. But fear in the stock market could translate to greed in the bond market as investors flee to safety.

Persons: Paul Ciana, Gordon Johnson, —, Johnson, Ed Yardeni, Kevin Zhao, Liz Truss, Ray Dalio, Fitch, Eric Leve, Michael Gayed, there's, Russell, Leve, hasn't Organizations: Federal Reserve, Investors, Bank of America, GLJ Research, UBS Asset Management, CNBC, Greenwich Economic, Tidal Financial, P Bank ETF, BlackRock Locations: Bridgewater, Greenwich

☆ Elon Musk, Jamie Dimon, and Ray Dalio just issued fresh warnings about the US economy. Here's what 10 experts recently said about recession risks.
▼ + stars: | 2023-10-29 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Elon Musk, Jamie Dimon, and Ray Dalio all have serious concerns about the US economic outlook. Leon Cooperman, David Solomon, and David Rosenberg have also predicted trouble in recent days. AdvertisementAdvertisementJamie Dimon, Elon Musk, and Ray Dalio are just some of the high-profile commentators who've raised the alarm on the economic outlook in recent days. Elon Musk, CEO of Tesla"I think there's still quite a few shoes to drop on the bad credit situation. David Rosenberg, president of Rosenberg Research"I am willing to acknowledge that the recession has been delayed.

Persons: Elon Musk, Jamie Dimon, Ray Dalio, Leon Cooperman, David Solomon, David Rosenberg, —, who've, Jeremy Grantham, Tesla, I'm, Rosenberg, We've, Goldman Sachs, there's, we've, Larry Fink, Fink, Stephen Schwarzman, Blackstone, we'll, Harley Bassman Organizations: Service, JPMorgan, Omega, Bridgewater Associates Locations: Israel, Ukraine, China

☆ Here's 3 reasons why Wall Street giants say investors should pay attention to Treasurys as yields soar
▼ + stars: | 2023-10-28 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

The 10-year Treasury yield topped 5% for the first time since 2007 this week. The gap between higher dividend yield stocks and the 10-year US Treasury yield has completely closed. Bond yields probably aren't falling soonTreasury yields are likely staying elevated, thanks to the Fed's committement to keeping a lid on inflation. Central bankers have raised rates 525 basis-points over the past year to lower high prices, which has helped pushed Treasury yields higher. Other market forecasters have warned of more trouble ahead in equities, especially as higher bond yields draw investors away from the stock market.

Persons: —, Goldman Sachs, there's, they've Organizations: Treasury, Service, Bank of America, Goldman, Goldman Sachs Global Investment Research, Vanguard

☆ Jim Cramer looks back at the life of BlackRock's Byron Wien
▼ + stars: | 2023-10-27 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJim Cramer looks back at the life of BlackRock's Byron Wien'Mad Money' host Jim Cramer looks back at the life and legacy of BlackRock's Byron Wien.

Persons: Jim Cramer, BlackRock's Byron Wien

☆ Vanguard heads say 2024 will be "below average" for stocks
▼ + stars: | 2023-10-27 | by ( Bob Pisani | ) www.cnbc.com time to read: 1 min

RELATED VIDEOS02:57 Vanguard heads say 2024 will be "below average" for stocks12:40 Why BlackRock's new Flexible Income ETF emphasizes "international" right now08:13 BlackRock's CIO on markets and what he calls "the polyurethane economy"21:58 ETF Edge, October, 30 202306:13 ETF Edge: What's the year-end investment outlook? 25:05 ETF Edge, October 27, 2023

Organizations: Edge

☆ ETF Edge, October 27, 2023
▼ + stars: | 2023-10-27 | by ( Bob Pisani | ) www.cnbc.com time to read: 1 min

RELATED VIDEOS25:05 ETF Edge, October 27, 202312:40 Why BlackRock's new Flexible Income ETF emphasizes "international" right now08:13 BlackRock's CIO on markets and what he calls "the polyurethane economy"21:58 ETF Edge, October, 30 202306:13 ETF Edge: What's the year-end investment outlook? 07:10 Vanguard leadership on interest rate conundrums

Organizations: Edge

☆ When Byron Wien's list came out I would ponder it for hours, says Jim Cramer
▼ + stars: | 2023-10-27 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhen Byron Wien's list came out I would ponder it for hours, says Jim Cramer'Mad Money' host Jim Cramer looks back at the life and legacy of BlackRock's Byron Wien.

Persons: Byron Wien's, Jim Cramer, BlackRock's Byron Wien

☆ Vanguard leadership on interest rate conundrums
▼ + stars: | 2023-10-27 | by ( Bob Pisani | ) www.cnbc.com time to read: 1 min

RELATED VIDEOS07:10 Vanguard leadership on interest rate conundrums12:40 Why BlackRock's new Flexible Income ETF emphasizes "international" right now08:13 BlackRock's CIO on markets and what he calls "the polyurethane economy"21:58 ETF Edge, October, 30 202306:13 ETF Edge: What's the year-end investment outlook? 25:05 ETF Edge, October 27, 2023

Organizations: Edge

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