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What Would It Cost to End the Pandemic? [DealBook]
Paying for all 330 million Americans to have one rapid test a day for the next six months would cost about $60 billion…. Assuming every infected person is given a $530 course of antiviral medicine, the cost of treatment is about $27 billion…. If the U.S. gave every American two KN95 masks a week over the next six months, and the government can buy them for $1 each, that comes out to $17 billion….
The total comes to a little over $100 billion. But there are plenty of caveats: This doesn’t include the costs of other measures that Biden has announced, like resources for more vaccination sites, nor does it account for manufacturing mishaps or the reality that some Americans won’t, for whatever reason, follow medical advice.

It’s One Deal for Elliott, Another Deal for the Rest [Bloomberg]
On Tuesday, Rocket produced a fresh buyback offer at some 35 euros a share. But there’s a catch: Investors can sell only 25% of their shares to the company. Elliott, however, has a get-around enabling it to jettison 100% of its stock…. The other minority shareholders are sitting prettier than on Monday, but don’t get Elliott’s rewards. Should they feel aggrieved?

Calpers chief Marcie Frost says hedge fund fees remain ‘problematic’ [FT]
Calpers dumped its $4bn in hedge fund holdings in 2014 when the vehicles were under intense pressure over high fees and mediocre performance. Since then, average hedge fund management fees have edged down from 1.5 per cent of assets under management to less than 1.4 per cent, according to data provider HFR. Performance fees — a share of a fund’s profits that is paid to managers — have dropped from 18 to 16 per cent.

Hedge fund liquidations fall to historic low [HedgeWeek]
Hedge fund liquidations fell to only 102, the lowest total since Q2 2006, as investors maintained or increased positions in existing hedge funds, driven by the uncertain macroeconomic environment including rising inflation, increased government spending, tapering of Federal Reserve bond purchases and the impact of Omicron coronavirus variant.
New hedge fund launches also declined to an estimated 132 in Q3 2021, though exceeded the estimated number of liquidations for the fifth consecutive quarter, which followed eight consecutive quarters of contraction. Launches in the trailing four quarters totaled 676 new funds, a total which tops calendar year totals for the past three years dating back to 2017 when 735 funds launched.

Crypto.com Will Run its First Super Bowl Ad Amid Marketing Blitz [WSJ]
As an advertiser in NBC’s Super Bowl broadcast on Feb. 13, five-year-old Crypto.com will appear alongside marketers including shopping-rewards platform Rakuten Rewards, sports-betting operator DraftKings Inc., Avocados From Mexico and Intuit Inc.’s TurboTax.
Cryptocurrency exchange FTX will also make its first ad appearance in the game after making big pushes of its own into naming rights and advertising campaigns.

Hope Hicks, other Trump alums join hedge-fund exec's Senate camp [Politico]
Two other prominent top staffers in the Trump administration — Stephen Miller and Cliff Sims — are also expected to serve in advisory roles. Several others, including Kellyanne Conway, Tony Sayegh, Matthew Pottinger and Sarah Huckabee Sanders, who is running for governor in Arkansas, are also supportive.
The roster provides a hint at how McCormick would likely run his campaign: As a staunch Trump ally. The 56-year-old McCormick, who launched an exploratory committee this week, has deep ties to the Trump orbit. He was considered for posts at the Treasury Department and Pentagon and is married to Dina Powell, who was a top national security official in the Trump White House.

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