Here is the link.
Morgan Stanley's Mike Wilson on what's next for the market heading into the end of the year. With CNBC's Melissa Lee and the Fast Money traders, Tim Seymour, Dan Nathan, Guy Adami and Steve Grasso. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi
1. Exposure to U.S. floating rate Treasury bonds, whose interest payments adjust to reflect changes in interest rates
2. Easy access to a new type of Treasury bond (first issued in January 2014)
3. Use to put cash to work, seek stability, and manage interest rate risk
We are buying bonds, We;re buying preferred at 11%, 12% yields. T-flows, 短期国债， ETFs.
Low risk with return over 10%
16:06/01:07:62
StockMKTNews - Evan, Stock talk weekly, whole mars catalog (Omar), special situation research newsletter (Jay)
$145,000 CAD
12月，每天大约有四个 SPAC 清算关闭，几乎与该行业在 2021 年初繁荣时期的启动速度相同。美国明年即将生效的消费税助推了SPAC的清算潮。
Based on chase bank account records, my three installments for 2020-2021 new roof are:
Elon Musk is giving a master class on how not to lead: Thrive Global CEO. Elon Musk sold another US$3.58 billion worth of Tesla Inc. shares, bringing the total amount he's offloaded since late last year to almost US$40 billion.
对“木头姐”凯西·伍德来说，2022年是艰难的一年。她的反对者越来越多。
William Hunt "Bill" Gross (born April 13, 1944) is an American investor and fund manager, best known for co-founding Pacific Investment Management Co. PIMCO is a global fixed income investment company. Gross ran their $270 billion Total Return Fund (PTTRX), before leaving to join Janus Capital Group (now Janus Henderson) in September 2014.[1]
有着“老债王”之称的传奇投资人比尔·格罗斯（Bill Gross）周二表示，如果美联储继续加息，他预计未来会带来大麻烦。
The criminal indictment against Bankman-Fried and "others" at FTX is on top of civil charges announced Tuesday by the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). The SEC alleges Bankman-Fried defrauded investors and illegally used their money to buy real estate on behalf of himself and his family.
U.S. authorities said they will try to claw back any of Bankman-Fried's financial gains from the alleged scheme.
一天损失近150亿美元，创下全球亿万富翁单日财产最大跌幅纪录。
Joshua S. Friedman | |
|---|---|
| Born | 1956 (age 65–66) Boston, Massachusetts |
| Nationality | American |
| Education |
|
| Occupation | Investor and businessman |
| Years active | 1984-present |
| Employers |
|
| Known for | Co-founder of Canyon Partners |
| Title | Co-founder, Co-chairman and CEO of Canyon Partners |
Here is the link.
Josh Friedman, Canyon Partners co-CEO, joins 'Closing Bell' to discuss his market takeaway following the Fed's hawkish messaging, pressure on pricing due to an exodus of investments from mutual funds and headwinds facing the equity market.
Here is the link.
$248
(Bloomberg) -- Florida’s legislature passed a bill that would create a state-backed reinsurance fund and attempt to ease litigation costs that have pushed a homeowners-insurance market already contending with monstrous storms toward the brink.
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The bill passed in the Florida House of Representatives by a vote of 84 to 33 Wednesday afternoon after the Senate approved the legislation Tuesday, according to the Florida Senate’s website. The votes took place during a special session called by Governor Ron DeSantis in part to address the impact of Hurricane Ian on an insurance market that was already stumbling.
Larger insurers have spent years reducing their exposure to the state as litigation costs rose and the severity and frequency of hurricanes intensified, leaving smaller firms that mostly focus on Florida dominating the market and homeowners facing soaring premiums. Seven of those smaller carriers have gone insolvent in the past two years, according to a statement from the office of Senate President Kathleen Passidomo.
“We need to drive capital back to the market,” Florida Senator Jim Boyd, an insurance agent and sponsor of the bill, said Tuesday. “While it might not happen today, I believe we will see rate relief.”
One of the proposed changes would repeal the state’s “one-way” policy on attorneys fees for property claims. It requires insurers to cover the cost of litigation on behalf of plaintiffs who sue them successfully, but doesn’t force policyholders to cover such costs for their insurer if they lose.
“Despite multiple broad-reaching property insurance reforms passed by industry supporters in the past three sessions, there have been minimal improvements to the insurance marketplace that actually benefit consumers,” Ron Haynes, a vice chair with the trial lawyer trade group Florida Justice Association, said in a statement. “Unfortunately, this round of reforms is a massive over-correction that takes away homeowners’ property rights and leaves Floridians at the mercy of their insurance company.”
Another measure would eliminate a rule that allows property-insurance policyholders to sign away their right to collect payments to another party, such as a contractor or plumber. That’s led to “unnecessary litigation,” according to the state’s Office of Insurance Regulation.
The legislation also would create an optional reinsurance program funded by premiums from participating insurers as well as $1 billion from the state’s 2023 general revenue.
Last Resort
Reinsurers have also been pulling back from Florida, spooked by the weakness of many primary insurers. And many homeowners who are unable to secure affordable coverage have been pushed to policies offered by the state-backed insurer of last resort, Citizens Property Insurance Corp. The reforms include a mechanism meant to move policies away from Citizens and back into the private market.
The bill represents the “most extreme measures” ever taken by the state to tackle the property insurance crisis, said Jeff Brandes, a former state senator who has been outspoken on the challenges facing insurers in Florida.
“There is still some additional work that needs to be done, but this at least puts us on a path that we can survive,” Brandes said. “This should bring new capital to the market and I think it will ultimately create lower rates and more competition.”
--With assistance from Michael Smith.
