Nice day for hedge fund favorite QCOM, up 4%.
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Brevan Howard announces €1bn LSE float for a fixed income/global macro fund.
Once again, not in the US.
In related news, an ETF provider in the US filed to launch the Intellidump Micro Retail Dividend Weighted 4X Leveraged ETF.
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Wait, so Red Rocks Captital is the advisor to the PowerShares Private Equtiy ETF (PSP) and the Foreign Listed Private Equity ETF (PFP). So, why did they start a mutual fund on Listed Private Equity? Do you think they realized the PFP owners are going to get hosed on taxes?
Or is it so they can simply charge more (1% to 1.5% for various share classes) than the 10 basis points or so they get for advising the ETFs? It looks like they are still investing in the foreign listed funds, so I’m not really sure how they’re going to manage the tax problems. . .
FYI, Vista has had a listed PE fund out for awhile. . .
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Whenever I make a stupid mistake, I like to blame it on coding errors.
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Did you know Nick Nolte and Tom Selleck turned down the role of Indiana Jones?
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Just passed my 300th post!
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I was reading this article in Fortune Mag the other day titled, “When Buyouts Boom“. While the article struck me as your typical mildlynotreallythatinteresting article, there was a nice graphic (below). Simply, it’s the spread between buying and borrowing costs. More specifically, it’s the pretax cashflow yields of stocks (S&P500) vs junk bond yields. I will let you draw your own conclusions.
