Skip to main content

Stock Pickers Watched the S&P 500 Pass Them By Again in 2021 [WSJ]
Fueled by rip-roaring corporate profits and easy monetary policy, the benchmark S&P 500 notched a total return, including price gains and dividends, of 28.7% last year. That was a stronger showing than that of 85% of U.S. large-cap stock-picking mutual funds, according to data from S&P Dow Jones Indices.… 2021 was the 12th consecutive year in which the majority of actively managed funds of large-cap stocks watched the S&P 500 pass them by.

JPMorgan Adds to Fintech Holdings With Deal for Global Shares [Barron's]
The bank is acquiring all of Global Shares. The deal, which is expected to close in the second half of this year, is valued at $750 million, a person familiar with the situation said. Global Shares will become part of JPMorgan’s asset- and wealth management business.

Raskin withdraws as Biden’s Fed nominee [Politico]
Biden, in a statement Tuesday, said Raskin “was subject to baseless attacks from industry and conservative interest groups” and noted the broad support for her nomination from former central bank officials, consumer advocates, economists and the financial industry…. Four other nominees, including Fed Chair Jerome Powell, were also being held up because of the impasse over Raskin.

G.O.P. Senate Hopeful Faces Scrutiny Over Handling of Teacher Pensions [NYT]
“We’re stuck with a half-a-billion-dollar bill while he and his colleagues got half a billion in fees,” Dr. Oz said outside the Harrisburg headquarters of the pension fund, the Public School Employees Retirement System, known as PSERS. He addressed a small group of supporters with a large prop check made out for $500 million.
“The fact that no one knows this story,” he added, is “shameful.”

A Wall Street Lifer’s Quixotic Quest to Build a Nonracist Bank [Bloomberg]
The way [Alex] Ehrlich saw it, banks with thousands of workers are too big to remake their cultures in any reasonable time frame, even if they really want to. His imagined company would be unencumbered by its size. It would be, to the best extent possible, inclusive and nonracist in its practices and impact, even as he couldn’t guarantee that he wouldn’t fail or unwittingly exacerbate the problems he’d set out to solve.

Ricketts Family Join Hedge Fund Billionaire Ken Griffin to Mount 'Blockbuster' Chelsea Bid [SI]
The sale has been allowed by the UK Government despite Roman Abramovich's sanctioning, with a deadline of March 18 set by Raine Group…. The Raine Group, the bank trusted with the task to sell Chelsea, have a working relationship with the Ricketts family and knowledge of 'small circle investors' with the money to make a deal happen.


tribute in light

Opening Bell: 9.11.20

Bellwether blues; Tesla victimized by own success; Ken Griffin wins (again); Century 21 not so much; and more!

philadelphia vote count

Opening Bell: 11.6.20

Waiting on the call; Coop’s comedown; London lockdown; Ken Griffin needs a spot by the Seine; and more!

manchester united

Opening Bell: 4.21.21

Can we call it soccer, too?; SPACs scatter; shy shorts; Ken Griffin makes nice; and more!

Opening Bell: 4.16.15

Goldman and Citi beat estimates; Ben Bernanke works for Ken Griffin now; Schwarzman describes Blackstone as "earnings machine"; Stripper School shutdown; and more.


Opening Bell: 3.15.22

A taste of normalcy; how Ken Griffin spends his day; nickel to be allowed to rise, fall by a nickel; and more!

(Getty Images)

Opening Bell: 7.19.17

Morgan Stanley beats estimates, Goldman; stocks are weird; hedge funds are winning again, kinda; winter is here for Pornhub; and more.


Opening Bell: 5.6.20

COVID-19 is basically a Nazi; Ken Griffin the hero; private equity needs better lobbyists; can we leave Tom Cruise in space; and more!

deutsche bank

Opening Bell: 6.21.21

Wirecard who?; tamping down on tapering talk; the forest and the trees; Ken Griffin’s beachside backup bought at discount; and more!