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☆ Hedge fund billionaire Steve Cohen expects a recession to come and go quickly before a stock market rally in 2024
▼ + stars: | 2023-10-27 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Billionaire hedge fund boss Steve Cohen doesn't expect a deep recession or a prolonged market downturn. Cohen said his hedge fund, Point72, maintains a "pretty positive" outlook on the economy. AdvertisementAdvertisementSteve Cohen, the billionaire chief of hedge fund Point72 and the owner of the New York Mets, has an upbeat outlook for the US economy and financial markets. AdvertisementAdvertisementEarlier this week, investing pioneer Rob Arnott shared a contrasting outlook for the economy this week. Recessions always start with an economy that's been booming.

Persons: Steve Cohen doesn't, Cohen, —, Steve Cohen, Rob Arnott, Arnott, Jerome Powell, CME's, Powell Organizations: Service, New York Mets, CNBC

☆ Billionaire GOP mega-donor Ken Griffin may have a new Republican fave
▼ + stars: | 2023-10-25 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +3 min

Citadel founder Ken Griffin said his one-time favorite candidate, Florida Gov. Griffin, who has been looking for an alternative to former President Donald Trump, called Nikki Haley a rockstar. Griffin was speaking at the Robin Hood conference in New YorkNEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementBillionaire Citadel founder Ken Griffin may have a new favorite candidate in the GOP presidential primary.

Persons: Ken Griffin, Ron DeSantis, Griffin, Donald Trump, Nikki Haley, Robin Hood, —, Paul Tudor Jones, Haley, DeSantis, Chris Christie —, Steve Cohen, Robin Hood —, Joe Biden Organizations: Citadel, Florida Gov, Robin, Service, Billionaire, South Carolina Gov, New, New York City, Trump, Citadel Securities, SEC Locations: Iowa, New York, New Jersey, New Hampshire

☆ Insider Today: You should buy a house now
▼ + stars: | 2023-10-23 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

AdvertisementAdvertisementIn today's big story, we're looking at why it's a good time to buy a house. RichLegg/Getty ImagesIt's a pretty terrible time to buy a house these days, which is why it's a good time to buy a house. AdvertisementAdvertisementInsider's Jennifer Sor detailed why it's a good time to buy a house. Part of the issue is that mortgage rates won't magically drop overnight. The Insider Today team: Dan DeFrancesco, senior editor and anchor, in New York City.

Persons: OpenAI's Sam Altman, Jennifer Sor, Jacob Zinkula, they're, that's, Gen Zers, who's, it's, Doug Haynes, Haynes, Steve Cohen's Point72, Leon Cooperman isn't, Arantza Pena Popo, carmakers, EVs, Tyler Le, Satya Nadella, Mathias Döpfner, Axel Springer, Jensen Huang, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: FBI, RichLegg, Norias Research, Investments, Ameriprise, Insurance, Microsoft, Activision Blizzard, Nvidia, ZTE Corp, Philips, NBA Locations: West Palm Beach, Fla, Tokyo, Oklahoma City, New York City, San Diego, London, New York

☆ Doug Haynes — the former Point72 president who resigned after a #MeToo scandal — is hoping to raise $1 billion for his new fund
▼ + stars: | 2023-10-20 | by ( Bradley Saacks | ) www.businessinsider.com time to read: 1 min

Norias Research Group is a new "quantamental" hedge fund based in Florida. Haynes founded Norias after executive positions at Steve Cohen's Point72. Haynes resigned from the fund in 2018 and was accused in a lawsuit of sexual discrimination. Doug Haynes, who resigned from Steve Cohen's Point72 in 2018, a month after being named as a defendant in a sexual discrimination lawsuit, hopes to raise $1 billion for his new fund, two sources close to the fund told Insider. The new fund, named Norias Research Group, will be based in West Palm Beach, the ritzy enclave many financiers have moved to in Florida.

Persons: Haynes, Steve Cohen's Point72, Doug Haynes, HFM Organizations: Norias Research, West Palm Beach Locations: Florida, West Palm

☆ Welcome to the American League Championship Series, Presented by Steve Cohen
▼ + stars: | 2023-10-17 | by ( Jared Diamond | ) 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/sports/baseball/justin-verlander-max-scherzer-steve-cohen-astros-rangers-mets-f95df035

Persons: Dow Jones, justin, cohen Organizations: astros

☆ Insider Today: Market's crash landing
▼ + stars: | 2023-10-09 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +9 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. The core question it presents is whether personal AI devices could have the same impact that the iPhone had on the tech industry. Meta's Responsible AI team shrank amid layoffs and restructuring. Yet the team tasked with ensuring that new AI tech was "fair and inclusive" is half the size it was in 2021. Yet the team tasked with ensuring that new AI tech was "fair and inclusive" is half the size it was in 2021.

Persons: —, Benjamin Netanyahu, Insider's Matthew Fox, Mohamed El, Matthew, Jerome Powell, hasn't, mavens, Izzy Englander, Citadel's Ken Griffin, Point72, Steve Cohen, Phil McCarten, Dave Kotinsky, Shaw, Victor Virgile, Arantza Pena Popo, Bella Hadid, John Lennon, Ben Shelton, Sharon Osbourne, William Hanson, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Hamas, Saturday, Israeli, Citadel, federal, Tech, Peoples, Indian Heritage Locations: Israel, D.E, Cupertino, China, South Dakota, Oklahoma, Hawaii, Alabama, Dakota, Los Angeles, New York City, San Diego, London, New York

☆ Tiger Woods and Rory McIlroy's TGL golf league will air on ESPN
▼ + stars: | 2023-10-05 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

Disney' s ESPN has nabbed the broadcast rights to air matches from TGL, the startup golf league led by Tiger Woods and Rory McIlroy. TGL, which is in partnership with the PGA Tour, will have its debut Jan. 9 as part of a multiyear deal. Both TGL matches will air on traditional TV's ESPN and streamer ESPN+. The agreement between the PGA Tour and LIV has yet to be finalized. TGL, a new primetime, high-tech golf league created by Woods, McIlroy and former NBC Sports executive Mike McCarley, has attracted stars from the PGA Tour.

Persons: Rory McIlroy, Tiger Woods, TGL, LIV Golf, LIV, Woods, McIlroy, Mike McCarley, Jon Rahm, Justin Thomas, Collin Morikawa, Matt Fitzpatrick, Justin Rose, Adam Scott, Xander Schauffele, Max Homa, Rickie Fowler, Billy Horschel, Steve Cohen Organizations: Augusta National Golf Club, Disney, ESPN, PGA, ABC, College Football, NFL, Tour, Saudi Arabia's Public Investment Fund, Endeavor Group Holdings, Fenway Sports Group, CNBC, NBC Sports, Major League Baseball's New York Mets, New York, Private Ventures Locations: Augusta , Georgia, TGL, Palm Beach Gardens , Florida

The idea behind the Ryder Cup task force that was formed after the 2014 matches was to build some continuity among the U.S. teams. He had been an assistant four times in the Presidents Cup and Ryder Cup. The key is to see whom Furyk, the 2018 Ryder Cup captain and now the Presidents Cup captain for 2024 in Montreal, selects as his assistants for next year. Former PGA champion David Toms was overlooked as a Ryder Cup captain, just like another PGA champion, Larry Nelson, was before him. DIVOTSRickie Fowler is one of four Americans to have been on a losing Ryder Cup team in Europe at least four times.

Persons: GUIDONIA MONTECELIO, Luke Donald, Bernard Gallacher, Tiger Woods, Phil Mickelson, LIV, Woods, Ben Hogan, Johnson, Jordan Spieth, Justin Thomas, John Lindert, Don Rea, Seth Waugh, Steve Stricker, Davis Love, Fred Couples, Jim Furyk, Stewart Cink, Marco Simone, Matt Kuchar, David Duval, David Toms, Larry Nelson, Toms, he's, Max Homa, Brooks Koepka, ” Jordan Spieth, “, ” Spieth, Si Woo Kim, Kim, Yubin Jang, Wooyoung Cho, “ I've, Danny Oh, Rory McIlroy, McIlroy, Jon Rahm, Collin Morikawa, Xander Schauffele, Arthur Blank, Steve Cohen, DIVOTS Rickie Fowler, Danny Willett, ”, LIV Golf, Louis Oosthuizen, Ludvig Aberg, Swede, ’, ___ Organizations: — Team, Bethpage, Bethpage Black, U.S, Ryder, PGA, FedEx, BMW PGA, South Korea, Asian Games, South, Games, Asian, Sports, SoFi Technologies, ESPN, Atlanta Falcons, New York Mets, SoFi, Ryder Cup, Dunhill, Sanderson, Texas Tech, PGA Tour University, Indiana, Italian Golf Federation Locations: Italy, Saudi, Adare Manor, Ireland, U.S, Montreal, Paris, Europe, England, France, Wentworth, South, China, Thailand, South Florida, Los Angeles, Atlanta , New York, Boston, Saudi Arabia, Mississippi

☆ 'Dumb Money,' the movie based on the 2021 GameStop trading frenzy, comes up short
▼ + stars: | 2023-09-29 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +3 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . I'm fascinated by Hollywood's interpretation of finance, from "The Wolf of Wall Street" and "Margin Call" to "The Big Short." The depiction of hedge fund managers Ken Griffin (Nick Offerman), Steve Cohen (Vincent D'Onofrio), and Gabe Plotkin (Seth Rogen), whose firm's GameStop short position put it in Reddit traders' crosshairs, came across as too over-the-top and cartoonish. But if satire was the direction the movie wanted — à la "The Wolf of Wall Street" — it should have pushed harder. Instead, Gill's stoner brother (Pete Davidson) has to carry the comedy load, but most of his jokes come up short.

Persons: —, Keith Gill, Paul Dano, Gill, Ken Griffin, Nick Offerman, Steve Cohen, Vincent D'Onofrio, Gabe Plotkin, Seth Rogen, Griffin, Pete Davidson Organizations: Service, GameStop, Wall

☆ Inside Point72's boot camp for developing all-star portfolio managers, where Steve Cohen is known to grill up-and-comers who think they're ready for the big time
▼ + stars: | 2023-09-25 | by ( Michelle Abrego | ) www.businessinsider.com time to read: +10 min

Point72 is a pioneer in developing investor talent; the multi-manager has been running LaunchPoint, previously known as Nines, since 2012. More than 70 long/short managers have launched through LaunchPoint since it started in 2012, and 75% of those are still at Point72. They make up 50% of the firm's 100 long/short managers. For Point72, LaunchPoint was created with the idea that it can take two to three years to figure out how to be a PM. Point72"We saw that preparation really influenced the long-term success of new PMs," Weiner said.

Persons: Steve Cohen, Cohen, Harry Schwefel, Point72, Schwefel, Steve, haven't, It's, John Weiner, it's, John Pierson, Weiner, LaunchPoint, they've, Nick Shivers, Ariel Herman, Jon Weiner, Point72 LaunchPoint, Griffin Newman, Newman, Point72 Newman, Ryan Wilder, " Weiner Organizations: SAC Capital, Point72 Academy, P2 Investments, New York Mets, Point72, Brigade Capital Management, SAC Advisors, Bloomberg Locations: LaunchPoint, Point72

☆ Wall Street's typical career path might have a massive detour thanks to AI
▼ + stars: | 2023-09-25 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

As for today's edition, we're looking at how AI could upend the job of the junior banker, and the effect that'll have on Wall Street's traditional career path. AdvertisementAdvertisementAspiring financiers need to look no further than investment banks' analyst programs to get a foot in the door. But this crucial piece of Wall Street's ecosystem could be upended by the rise of artificial intelligence. AdvertisementAdvertisementBuy-side firms have largely held off on going after college graduates, instead pointing them toward banks' analyst programs. Regardless of what direction things go, what's clear is the type of work AI excels at falls directly in junior bankers' wheelhouse.

Persons: Insider's Bianca Chan, Emmalyse Brownstein, Alyssa Powell, Steve Cohen's, Cohen, millennials, Elon Musk, Mark Zuckerberg, Jeff Bezos, ChatGPT, Xavier Lalanne, It's, Saint, Givenchy, Donald Glover, Childish Gambino, Will Smith, Catherine Zeta, Jones, krisanapong detraphiphat, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Guild of America, Hollywood, Tech, LinkedIn, Meta, National, Costco, Lowe's, Tractor Supply, Brands, Getty Images Finance Locations: Wall, Silicon, Paris, New York City, San Diego, London, New York

☆ Lawmakers are waking up to the realities of 'gerontocracy.' But don't expect them to do anything about it.
▼ + stars: | 2023-09-20 | by ( Brent D. Griffiths | Bryan Metzger | ) www.businessinsider.com time to read: +8 min

Age limits remain popular, and lawmakers have begun to wake up to the realities of gerontocracy. "I believe everyone deserves the kind of dignity to make their own choices," said Democratic Sen. John Fetterman of Pennsylvania. He also opposes age limits, arguing that people should be able to "choose who they want, no matter how old they are." "Different people age differently, you know, somebody at a younger age may have more impacts due to aging than somebody at an older age. "I don't think it's a problem to be old, I think it's a problem to have a lack of diversity."

Persons: Mitt Romney, Sen, Lindsey Graham, Graham, Romney, Strom Thurmond, Democratic Sen, John Fetterman of, Dianne Feinstein's, Mitch McConnell, Joe Biden, Donald Trump, gerontocracy, Rep, Maxwell Frost, Anna Moneymaker, Gray, Frost, hasn't, Ro Khanna, Khanna, Dianne Feinstein, Saul Loeb, Republican Sen, John Hoeven, Hoeven, Steve Cohen of Tennessee, Marie Gluesenkamp Perez, Gluesenkamp Perez, Feinstein, McConnell, Democratic Sens, Ben Ray Luján, JD Vance Organizations: Service, Utah Republican, Capitol, South Carolina Republican, Democratic, Florida Democrat, Pew Research Service, California, Senate, Getty, Republican, Democratic Rep, Washington, Ohio Locations: Wall, Silicon, John Fetterman of Pennsylvania, Florida, North Dakota, New Mexico

☆ Matt Gaetz can count on some progressives' support as he threatens to force a vote on ousting Kevin McCarthy
▼ + stars: | 2023-09-13 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +5 min

GOP Rep. Matt Gaetz is threatening to force a vote on ousting House Speaker Kevin McCarthy. If that happens, Democrats will get a vote too — and some progressives say they would vote for it. "I mean, if that vote comes up, I'll vote to vacate," said Rep. Maxwell Frost of Florida. Gaetz, for his part, has suggested that Democrats would bail McCarthy out, and he's openly challenging Democrats to support his effort when the time comes. "I think Speaker McCarthy is horrific," said Rep. Robert Garcia of California.

Persons: Matt Gaetz, Kevin McCarthy, McCarthy, Kevin McCarthy's, Joe Biden, McCarthy's, We've, Hakeem Jeffries, Maxwell Frost of Florida, Ilhan Omar, Ilhan Omar of Minnesota, Joaquin Castro, Joaquin Castro of Texas, Frost, Greg Casar of, hadn't, Casar, he's, weren't, Ro Khanna, California, Jeffries, Khanna, Jamaal Bowman, Bowman, Steve Cohen, Axios, it's, Robert Garcia of California, Omar Organizations: Service, Republican, Caucus, Republicans, Congressional Progressive Caucus, Democratic Party, Tennessee Locations: Wall, Silicon, Florida, Ilhan Omar of, Joaquin Castro of, —, Greg Casar of Texas, New York

☆ Steve Cohen invests in Tiger Woods and Rory McIlroy's golf startup TGL
▼ + stars: | 2023-09-07 | by ( Jessica Golden | ) www.cnbc.com time to read: +1 min

New York Mets owner Steve Cohen speaks to the media before a game against the Milwaukee Brewers at Citi Field on June 28, 2023 in New York City. Financier and Mets owner Steve Cohen has bought the founding rights to the New York team in Tiger Woods and Rory McIlroy's upstart golf league TGL, the organization announced on Thursday. TGL is a new primetime, high-tech golf league that will tee off in January 2024. TGL says the event timing will be complementary to the players' PGA Tour schedules. The PGA Tour and fledgling rival LIV Golf agreed to merge in June, but have yet to sign a final agreement and still face scrutiny from Congress.

Persons: Steve Cohen, Tiger Woods, Rory McIlroy's, Cohen's, Cohen, Woods, McIlroy, Jon Rahm, Justin Thomas, Collin Morikawa, Matt Fitzpatrick, Justin Rose, Adam Scott, Xander Schauffele, Max Homa, Rickie Fowler, Billy Horschel, TGL, LIV Golf Organizations: New York Mets, Milwaukee Brewers, Citi Field, The Brewers, Mets, New York, Ventures, TGL's, PGA Tour, Tour Locations: New York City, Tiger, New York

☆ ‘I’ve had this black cloud looming over me’: How private lenders have left millions of college students with no hope for the future
▼ + stars: | 2023-08-21 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +15 min

We both do DoorDash, and probably when those federal student loans start up, it'll be more of a necessity to do that." While private debt makes up just about 10% of the $1.7 trillion student-debt mountain in the US — about $136 billion — the industry has exploded over the past decade: the amount of outstanding private debt has jumped an estimated 47% since 2014. "Regardless, the student loan debt that was supposed to be an investment in their futures is dragging them down." To be sure, some private servicers do disclose benefits private borrowers could lose should they choose to refinance. Moran said he didn't regret taking out private student loans because it allowed him to pursue his desired nursing career.

Persons: Brianne Jones, Jones, she's, We're, it'll, Michele Shepard, they've, it's, Shepard, Suzanne Martindale, —, Anna Anderson, you've, It's, Navient, Martindale, Ryan Moran, Moran, Moran isn't, Joe Biden, I've, Anderson, forbearance, Steve Cohen, didn't Organizations: Eastern Michigan University, West, Federal Direct Loan Program, Institute for College, California's Department of Financial Protection, National Consumer Law Center, Consumer Financial, Bureau, Consumer Financial Protection Bureau, — Maryland Locations: Florida, —, California

☆ Civil rights groups sue Tennessee over the state's GOP-drawn congressional and state Senate maps, calling the boundaries 'unconstitutional racial gerrymandering'
▼ + stars: | 2023-08-13 | by ( John L. Dorman | ) www.businessinsider.com time to read: +4 min

Civil rights and voting rights groups have sued Tennessee over the state's congressional map. The GOP-drawn map led to the elimination of a heavily blue district in one of the state's Democratic centers. Bill Lee and several top election officials over the state's congressional and state Senate maps, arguing that the boundaries are unconstitutional and violate the rights of minority voters. Tennessee district maps must preserve the ability for voters to express their shared interests and elect the political representation of their choice." At the heart of the matter is the creation of three Republican-leaning congressional districts that include parts of Democratic-heavy Davidson County but which all elected GOP members of Congress.

Persons: Bill Lee, Debby Gould, mapmakers, Philip Randolph, Jim Cooper, Steve Cohen, Memphis Organizations: Tennessee, Democratic, Service, Tennessee Republican Gov, Republican, Court, Middle, Middle District of, GOP, League of Women Voters, of Women Voters, Tennessee State Conference of, NAACP, Equity Alliance, Memphis, Philip Randolph Institute, American, of Tennessee Locations: Wall, Silicon, Memphis, Nashville, Middle District, Middle District of Tennessee, , Tennessee, Alabama, Florida, Georgia, South Carolina, Tennessee, Davidson, exurban, Davidson County, Shelby County

☆ Steve Cohen’s Mets Paid $88 Million—for Five Minor Leaguers
▼ + stars: | 2023-08-03 | by ( Lindsey Adler | ) 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/sports/baseball/new-york-mets-owner-steve-cohen-scherzer-verlander-b1160327

Persons: Dow Jones, cohen Organizations: mets

☆ EQT’s India IVF buyout hits on fertile themes
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +2 min

MUMBAI, Aug 1 (Reuters Breakingviews) - Private equity giant EQT (EQTAB.ST) is buying a majority stake in the country’s largest fertility clinic chain Indira IVF via its Asian unit BPEA EQT, valuing the firm at $1.1 billion. Indira IVF serves some of the 15% of Indian couples experiencing infertility, a problem on the rise in the world’s most populous country as people marry later and air pollution stifles the ability to conceive naturally. EQT’s deal also is another bet on the changing demands of the South Asian nation’s middle class. Thanks to the gradual maturing of the private equity business, both purchases come with the added benefit of the buyer taking control. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Indira, EQT’s, Shritama Bose, Steve Cohen, ’, Una Galani, Aditya Munjuluru Organizations: Reuters, Blackstone, HDFC, Twitter, Sequoia, Walmart, Thomson Locations: MUMBAI, Temasek

☆ Japan market rally fails to mask Nomura’s woes
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +2 min

It also powered a near-fivefold increase in pre-tax earnings at the bank’s retail unit from the same period last year. Nomura’s own stock has also benefitted, though its 20% rise this year to a two-year high lags the broader market. And the rally did nothing to fix the abysmal underperformance at its mainstay wholesale division. Revenue at the unit that comprises the volatile investment banking and trading businesses fell 4% to 191 billion yen ($1.3 billion). They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Nomura, Morgan Stanley, Kentaro Okuda, Steve Cohen, Antony Currie, Oliver Taslic Organizations: Reuters, Revenue, Global, Twitter, Sequoia, Thomson Locations: SINGAPORE, India

☆ BP appeal requires more than short-term sweeteners
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +2 min

LONDON, Aug 1 (Reuters Breakingviews) - Bernard Looney is throwing cash at BP’s (BP.L) shortcomings. In the three months to the end of June the $109 billion European oil major missed expectations by a wide margin, with net income falling 70% to $2.6 billion year-on-year. Wael Sawan, his counterpart at rival Shell (SHEL.L) who only took the helm this year, has refocused his company on “molecules” – from oil and gas to low-carbon hydrogen and biofuels. But Shell has done better, and Bernstein analysts recently estimated BP was trading at a yawning 87% discount to the sum of its parts. The risk for Looney is that if investors want to own one European oil major, it won’t be his.

Persons: Bernard Looney, Looney, Wael Sawan, Shell, Bernstein, won’t, Yawen Chen, Steve Cohen, ’, George Hay, Pranav Kiran Organizations: Reuters, Shell, outperforming, Exxon Mobil, Chevron, BP, Twitter, Sequoia, Thomson Locations: outperforming U.S, India

☆ Uber drives further up the road to redemption
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +2 min

Uber branding is seen on private hire vehicle parking rank at Chopin Airport in Warsaw, Poland, March 22, 2023. NEW YORK, Aug 1 (Reuters Breakingviews) - Uber Technologies (UBER.N) Chief Executive Dara Khosrowshahi is shifting the ride-hailing company into a higher gear, but investors are lagging behind. Uber shares fell almost 6% on Tuesday morning, taking some of the shine off a stock that has almost doubled since the beginning of the year. Khosrowshahi remains some way from his destination on the road to redemption. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Dara Khosrowshahi, Lyft, Tony Xu, Jennifer Saba, Aston Martin, Steve Cohen, Peter Thal Larsen, Sharon Lam Organizations: Chopin, NEW, Reuters, Technologies, Twitter, Thomson Locations: Warsaw, Poland, DoorDash, Khosrowshahi, Japan, India

☆ Aston Martin flips from cash-guzzler to carmaker
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +2 min

LONDON, Aug 1 (Reuters Breakingviews) - Aston Martin Lagonda (AML.L) is making a painful transition from cash-guzzler to viable carmaker. A 216 million pound cash call on Monday brings its total capital raised since 2018 to just under 1.8 billion pounds. By this year, Aston Martin will have grown revenue by 13% per annum since 2019, according to Refinitiv data, thanks to new models like the DB12 and higher prices. Aston’s current enterprise value is just under 2 times forecast 2024 sales, a discount to Porsche, and far below Ferrari’s (RACE.MI) more than 8 times multiple. Yet Aston still needs to show it can make an electric vehicle, with the first due in 2025.

Persons: Aston Martin Lagonda, James Bond, Lawrence Stroll’s, Aston Martin, Aston, Neil Unmack, Steve Cohen, Liam Proud, Oliver Taslic Organizations: Reuters, Public Investment Fund, Porsche AG, Porsche, Twitter, Sequoia, Thomson Locations: Japan, India

☆ Even with alpha strikeout, Steve Cohen scores
▼ + stars: | 2023-07-31 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, July 31 (Reuters Breakingviews) - Hedge fund mastermind Steve Cohen is best known for his savvy trades, but it doesn’t take an investing whizz to make money in baseball. His New York Mets are one of the worst teams in the league despite a record-setting $364 million payroll. Cohen bought full ownership of the club in 2020 for $2.4 billion and spent lavishly on the roster. Even so, the Mets are already worth $500 million more than Cohen paid, according to Forbes, a nice uplift for substandard performance. Dan Snyder just sold his woeful Washington Commanders for $6 billion; Snyder paid $800 million for the team and its stadium in 1999.

Persons: Steve Cohen, Cohen, Max Scherzer, Dan Snyder, Snyder, Michael Jordan, Jennifer Saba, ’, Jeffrey Goldfarb, Sharon Lam Organizations: YORK, Reuters, New York Mets, Mets, Forbes, SAC Capital Advisors, Charlotte Hornets, Twitter, Sequoia, Walmart, BT boss’s, Thomson

☆ Where Steve Cohen's Point72 Ventures sees opportunities in fintech, from generative AI to solving gamers' payments woes
▼ + stars: | 2023-07-27 | by ( Bianca Chan | ) www.businessinsider.com time to read: +6 min

Tripp Shriner is a managing partner at Point72 Ventures, the VC arm of Steve Cohen's hedge fund. Point72 Ventures is now actively looking for new fintech investments after what it said was "a quieter period"— it last invested in payment startup Pagos' $34 million Series A in February. "We're still early, getting toward the check-writing side of things," Tripp Shriner, managing partner and fintech investor at Point72 Ventures, told Insider. The investment themes lay the groundwork for where Point72 Ventures will spend its time and money in the coming months and years. Point72 Ventures' approach to AI is largely guided by how financial firms want to use the tech.

Persons: Tripp Shriner, Steve Cohen's, Fintechs, We're, Shriner, it's Organizations: Point72 Ventures, Point72, Mastercard Locations: fintech, KYC

☆ Point72 Ventures fintech investor breaks down what's next for Steve Cohen's firm, from generative AI to solving gamers' payments woes
▼ + stars: | 2023-07-26 | by ( Bianca Chan | ) www.businessinsider.com time to read: +6 min

Tripp Shriner is a partner at Point72 Ventures, the VC arm of Steve Cohen's hedge fund. "We're still early, getting toward the check-writing side of things," Tripp Shriner, partner and fintech investor at Point72 Ventures, told Insider. The investment themes lay the groundwork for where Point72 Ventures will spend its time and money in the coming months and years. Point72 Ventures' approach to AI is largely guided by how financial firms want to use the tech. However, success would depend on financial firms' willingness to adopt such a fundamental change.

Persons: Tripp Shriner, Steve Cohen's, Fintechs, We're, Shriner, it's Organizations: Point72 Ventures, Point72, Mastercard Locations: fintech, KYC

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