Theranos Had $200 Million in Cash Left at Year-End (WSJ)
The number was disclosed in a conference call with investors last month. Investors also were told the firm didn’t generate any material revenue in 2015 and 2016 and hasn’t set aside funds for any potential liability that could arise from its pending legal challenges. The firm has yet to receive regulatory approval for a new business line it said it is pursuing.
A trade that is growing popular in the hedge fund community brings with it echoes of the financial crisis 10 years ago. The reason traders hope to make money from it is that so many assume, after the disaster of 2007-08, that it is too dangerous to try. It involves selling a form of financial insurance to insurance companies, which neither side really expects to pay out. But by adding leverage, some hedge funds have made it a profitable niche.
Some analysts said they believed the Catalyst fund’s efforts to rapidly wind down bets against the S&P 500 helped fuel the index’s rise this week to fresh records. Before Thursday, the S&P 500 rose for five straight days— gaining 2.5% over that span—and 10 days out of 11. The index dropped 0.1% Thursday.
Can Uber Outrun Its Own Future? (Vanity Fair)
“Uber is a remarkable company, but I find the diversions into other areas perplexing when they don't dominate in their core ride-hailing business,” Anand Sanwal, the C.E.O. of venture-capital research and analytics firm CB Insights, told me. “They didn't win China and they don't own their No. 2 market, India, yet. And so it feels premature to get into drones, flying cars, autonomous, etc. Except that getting into those businesses highlights the ambition of Uber, which investors seem to love.” (Uber declined to respond to criticisms of its business model.)
“A lot of the wine funds are small and you may run into liquidity issues,” Boulton said. “The time horizon for suitable returns on these investments is relatively long and it can be a volatile asset class.”
Nate Walton, the 6-foot 7-inch son of basketball great Bill Walton and older brother of Los Angeles Lakers coach Luke Walton, was born to star on the hardwood. Instead, the former Princeton University basketball captain is winning in high finance. A partner in the private-equity group at Ares Management LP, Mr. Walton orchestrated one of the most successful shale deals in recent years, expected to net more than a $1 billion within a year.
“It’s sad a couple of threats can cancel a 500 person event people wanted to go to…” Shkreli wrote on his Facebook shortly after posting a status stating Webster Hall cancelled his upcoming event. He was planning on hosting “An Evening With Martin Shkreli” where he promised to discuss “investing, healthcare and politics” and play a few tracks from the unreleased Wu-Tang Clan album he reportedly paid $2 million for.
“This is what it’s like to be with Trump,” Christie said. “He says, ‘There’s the menu, you guys order whatever you want.’ And then he says, ‘Chris, you and I are going to have the meatloaf.'” Trump said “I’m telling you, the meatloaf is fabulous,” according to Christie. Trump and Christie discussed the nation’s opioid epidemic during the lunch.