A $19 Billion Credit Fund Can't Wait to Pile Into Argentina Debt (Bloomberg)
When Argentina makes its long-awaited return to international bond markets next month to raise almost $12 billion, the nation can count on Highland Capital Management LP to be one of the buyers. The asset management firm, which oversees $19 billion, including credit hedge funds and emerging market credit funds, will look to snap up "significant amounts" of the securities, according to Jim Dondero, the president and co-founder of Dallas-based Highland. Before paring its holdings over the past six months, the firm had been the biggest holder of Argentina’s $4 billion of notes due in 2033.
DoubleLine’s Gundlach Says S&P Has 2% Upside, 20% Downside (Bloomberg)
The Standard & Poor’s 500 Index has about 2 percent upside and 20 percent downside, making for a lousy risk-reward tradeoff, according to money manager Jeffrey Gundlach. Betting on stocks is a “big losing proposition,” Gundlach said Tuesday during a webcast. The recent rebound is a “bear market rally,” he said.
US investment banks open gap over Europe (FT)
Europe’s top five investment banks are now making less than half as much revenue as the top five US operators, which beat their European rivals on almost every financial measure last year. Analysis by the Financial Times shows the Americans had investment banking and securities revenue of $138.5bn last year — more than twice the $60.1bn of the Europeans. Their cumulative pre-tax profits of $33.5bn dwarfed the $4.2bn in Europe.
Silicon Valley's 500 Startups Starts Fund in Growing Vietnam (Bloomberg)
Vietnam, home to 90 million people, is drawing interest from venture capitalists targeting companies that seek to capture consumers in the emerging middle class, aided by an economy growing at more than 6 percent annually. With more than half the population online, the country’s technology talent make it a particular draw.
'I DO NOT HAVE A 10-INCH PENIS': Hulk Hogan admits he embellished manhood in $100M sex tape suit (NYDN)
The wrestler admitted on the stand Tuesday that he’d exaggerated the size of his manhood as an attorney for Gawker sought to argue the wrestler’s boorish bragging indicated he’d chosen to make his private life public. "I do not have a 10-inch penis, I do not, seriously. Terry Bollea’s penis is not 10 inches,” Hogan said, using his real name. Hogan sued Gawker for $100 million in 2012 for posting a video of him having sex with the then-wife of his former best friend, radio shock jock Bubba the Love Sponge.
New York Fed says followed normal rules after lost Bangladesh funds (Reuters)
The Federal Reserve Bank of New York said on Tuesday that it followed normal procedures in transmitting funds that Bangladesh's central bank has said were stolen by cyber criminals from its Fed account. The Federal Reserve Bank of New York issued a brief statement on the incident a day after Bangladesh's central bank disclosed the theft, saying its account at the U.S. Federal Reserve had been hacked. The New York Fed has said there was no evidence that its systems had been compromised.
Did Kim just bail Kanye out of his $53M ‘debt’? (CNBC)
On Monday night, the reality TV personality tweeted that she was "busy cashing (her) 80 million video game check", and transferring $53 million into a joint account...It would hardly be surprising that Kardashian West has made some profit from the gaming space recently, following the success of her role-playing video game "Kim Kardashian: Hollywood", which according to gaming research firm SuperData Research, generated some $51 million in revenue within the first four months of its release, back in 2014. On top of that, Kardashian West released "Kimoji" last December, an app allowing users to use emoji characters based on the reality star's life.
No doomsday ahead for markets: Strategist (CNBC)
Global stock markets may have experienced increased volatility over the past year, but that does not mean investors should fear an impending global recession, Adam Schor, Janus Capital Group director of global equity strategies, said Tuesday.
Woman Drives Around With 15-Foot Tree Stuck In Her Car's Grille Like It's NBD (HP)
Roselle police officers pulled over Maryann Christy at 11:10 p.m. on Jan. 23 after receiving reports of her unusual hood accessory from other horrified drivers. The 54-year-old woman from the nearby suburb of Schaumburg claimed she'd driven a few miles and "didn't remember where" she'd hit the tree, the Chicago Tribune reported. The airbags on Christy's 2004 Lincoln were also deployed.