Brian Sozzi

In the paper's Closing Bell column, looked at how documents lodged with SEC show Bill Ackman is set to IPO his biggest fund yet for retail investors, targeting a $US26b raising, zero performance fees, zero management fees for 12 months, close-ended structure, UBS, Citi underwriting, spoke to Geoff Wilson Wilson Asset Management https://lnkd.in/gHgd9te5

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MY LATEST ON PRIVATE CREDIT: Blue-chip asset managers known primarily for their private-equity businesses have significantly increased private credit as a percentage of their assets under management within the past year. Private-equity giant Blackstone, with assets that rose about 7% to more than $1.06 trillion in the first quarter, increased its credit and insurance assets 13% to $329.6 billion at the end of March from $291.3 billion a year earlier. At buyout firm KKR & Co., assets managed by its credit business rose almost 12% to $260 billion at the end of this year’s first quarter from $233 billion a year earlier. Other publicly traded asset managers have also noted the increasing importance of private credit. In recent earnings reports and conference calls on the results, firm leaders cited strong returns as well as significant investor and borrower interest in debt offerings as driving forces of growth in the asset class. https://lnkd.in/ebDbhWw2

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If you are confused about Fed messaging right now, I try to unpack the problem in this story. To put it simply, the Fed communicates in baselines, not in bets, to paraphrase Annie Duke. They need a better way to communicate probabilities. Every policy maker who said three cuts this year looks like a good baseline most likely had an unusually high probability of less than three that they didn't communicate. There are many ways to communicate about risk and uncertainty. The Fed is behind other central banks on this front. https://lnkd.in/ese7jpEb

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After 50 years in their founders' profitable cultures, insular investment giants Vanguard and SEI, based in suburban Philly, this year turned outside, to industry leader BlackRock's EFT sales execs, for top bosses to manage growth and complexity. My latest: https://lnkd.in/eeZjn_jg 

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Where upside lies: Fund managers still see growth pockets in industrials 🛠️Most capital goods stocks, or industrials, are hovering near their 52-week highs. Still, they witnessed the greatest traction among all sectors in May. MFs flocked to the industrials, investing the most in the sector during the month while FIIs too, funnelled the highest capital into the sector. 🛠️The BSE Capital Goods index currently trades at a price to earnings (P/E) multiple of 58.5 times, significantly above its five-year average P/E of 37.92 times, Bloomberg data showed. In fact, several index constituents are tad shy of hitting fresh 52-week highs. 🛠️As long as order inflow visibility remains strong, there will be sustained earnings delivery and hence relatively strong valuations, said Priyankar Biswas, CFA of BNP Paribas. “Given the multiple sector growth outlook, we may not expect near-term moderation of investor appetite for the space despite the valuations,” he said, adding that considering the visibility of order inflows till FY30, there is still headroom to be constructive on the space. 🛠️“We think the sector valuation may adjust overtime and there may be some time correction,” said Saion Mukherjee of Nomura. Given the strong narrative, he believes a deep correction is unlikely. 🛠️“The sector's rapid re-rating has outpaced earnings upgrades, with valuations soaring,” said Nitin Arora of Axis Mutual Fund. If the earnings growth continues, one might look at increasing exposure to the capital goods sector, he added. 🛠️The only indicators that might prompt a reduction in exposure to this sector would be risks to revenue and earnings growth for the companies within it, highlighted Sorbh Gupta of Bajaj Finserv Asset Management Ltd. 🛠️ Deepak Shenoy of Capitalmind finds industrial companies in the manufacturing space particularly attractive. He prefers firms with strong momentum, low debt, and significant expansion potential. With that in mind, he likes sectors such as defence, railways, shipbuilding, transformers, and power transmission lines and equipment. Read here the complete article here: https://lnkd.in/d7ENs9rG

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Today's euphoric reaction to a slightly cooler June CPI print may qualify as an example of what Carley Garner, DeCarley Trading highlights here on the risks of an overheated #stockmarket #spx #copper #yen that could lead to a substantial drop for #s&p500

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Brevan Howard's $12 billion flagship fund is down 2.4% this year. 🏢 Despite gaining 0.77% in May, Brevan Howard's Master Fund is falling behind the industry average. 🏢 Hedge funds have averaged 5% gains year-to-date, according to data from research firm HFR. 🏢 Macro hedge funds have beaten equity and emerging market funds to post average gains of 6.5% this year. #hedgefunds https://lnkd.in/eBNMyhMX

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Hedge funds launched by Citadel alumni in 2024. 💰 Freestone Grove Partners: Founded by Todd Barker, the San Francisco-headquartered hedge fund started with $3.5 billion last year. 💰 Benchstone Capital Management: Founded by former Citadel portfolio manager Tommaso Trento, the New York-headquartered hedge fund started with almost $1 billion. 💰 Regents Gate Capital: Co-founded by former Citadel and Balyasny portfolio manager Joshua White, Regents Gate Capital started with $900 million in 2024. #hedgefunds

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Why is getting added to key market indexes is a plus for management? It creates built in demand for the stock. https://lnkd.in/eWyRaUnT

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Launching the redesigned bi-weekly private-credit newsletter. Private Lenders Get Pickier; Demand Holds Up; AI Front & Center. Please share thoughts and comments. https://lnkd.in/eDGF8edW #privatemarkets #credit #lending #investing #debt #banks #WallStreet #privateequity #AI

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My Article: With the primary market booming from a wave of IPOs, listed companies are utilizing Qualified Institutional Placement (QIP) issues to raise essential funds through the secondary market. Institutional investors and mutual funds are eagerly participating. This year’s QIP volume has already surpassed that of 2020, breaking previous records and showcasing growing market confidence! Sakshi https://lnkd.in/gXmbCteE #news #newsoftheday #businessnews #financialnews #digitalnews #indianbusiness #indianews #SotckMarket #NSE #Nifty #Sensex #BSE #Investors #QIP #Record #InstitutionalInvetors #QIB #Mutualfunds #InsuranceCompanies #IPO #PublicOffer #Stocks #Shares #DalalStreet #Bullrun #Zomato #Vedanta #Adani #PNB

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“We as allocators need to be the ones jumping through the hoops instead of those trying to access capital.” - Tonya Allen , President of McKnight Foundation . What an succinct summary of how impact investors can break down systemic barriers to capital. #MissionInvest2024 Mission Investors Exchange

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It'll only take five years for private credit to hit $40 trillion and asset-based finance is already a $20 trillion market, Akila Grewal, CFA of Apollo Global Management, Inc. says in the latest Credit Edge podcast from Bloomberg Intelligence, co-hosted by Matthew Geudtner listen/subscribe/review: https://lnkd.in/eDB-YkYz

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ICYMI: Buried under the many investment offerings in the vast financial market is Monetary Metals & Co., a company that offers a unique way for the gold treasure troves of investors to unlock productivity. Discover how this company is ushering in a golden era through its #GoldYieldMarketplace. #monetarymetals #gold #goldyield #goldbonds #goldlease #yieldongold #paidingold #goldounces #companies #investments #investingold

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🚀 The upcoming election is poised to significantly impact the future of crypto ETFs, according to Nate Geraci, President of The ETF Institute. 🔍 The approval of new spot ETFs for assets like Solana, XRP, and Litecoin is particularly on the radar. 🤔 A potential Kamala Harris administration may slow progress, continuing the cautious approach of the Biden administration, while a Trump administration could usher in a friendlier environment for ETF innovation. 🌟 📈 With over 30 fund firms, including BlackRock and Fidelity, seeking SEC approval for ETF share classes, the landscape is shifting rapidly. Canary Capital has even filed for a Solana ETF! 💡 As the U.S. national debt climbs to $36 trillion, legislators are exploring new sources of tax revenue, and ETFs may be next on the chopping block. The ETF industry is bracing for potential changes in tax policy following the election, highlighting the importance of this pivotal moment. https://lnkd.in/gCh7VZPh 🗳️ #CryptoETFs #Election2024 #Solana #Innovation #Finance

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