Tag Archives: crash

If the Federal Reserve stays on its current course of major interest rate hikes, stocks may drop another 25%, according to a top executive at Ray Dalio’s Bridgewater Associates hedge fund. Bridgewater Associates co–chief investment officer Greg Jensen said inflation is not going away, which could force the Fed to continue hiking interest rates, likely more than Wall Street currently anticipates. Story continues “We’re in a radically different world,” Jensen said in an interview with… Source link

At Gary Vaynerchuk’s multi-day non-fungible token (NFT) conference “VeeCon” in Minneapolis, there was no visible sign of the market collapse that preceded the crypto-palooza. ‘Happy’ singer Pharrell Williams had just left the main stage after bestowing the virtues of Web 3.0 and telling the enthusiastic NFT collector crowd “you are changing the paradigm right now.” Nearby, a line of mostly men in their late 20s and early 30s waited patiently to buy whatever merch they could… Source link

Michael Burry — the hedge fund manager depicted by Christian Bale in The Big Short — has been aggressively investing during this market downturn. Burry’s latest 13F filing for the first quarter of 2022 shows a broad range of new investments and some interesting strategic moves with options. That’s a significant shift from the previous quarter when Burry was selling most of his stock portfolio and calling for the “mother of all crashes.” He’s not exactly bullish on the overall… Source link

The Terra ecosystem completely unraveled last week, taking much of the cryptocurrency market down with it. Its algorithmic stablecoin TerraUSD (UST) crashed far below its $1 peg, and its sister token Luna collapsed to nearly zero. Though the overall market is now recovering, the demise of UST and Luna wiped out many cryptocurrency investors’ life savings. This left the Terra community, including its creator Do Kwon, proposing plans to somehow fix the damage done. One proposal on the Terra… Source link

Arizona State defensive lineman Stanley Lambert. (AP Photo/Matt York) Police in Scottsdale, Arizona have charged Arizona State football player Stanley Lambert with driving under the influence after a pedestrian was struck by a car and later died from her injuries, according to local reports. Police say that a car struck a 23-year-old woman as she crossed a road in Old Town Scottsdale around 1:38 a.m. on Saturday. The car’s driver was allegedly identified as Lambert. Scottsdale police arrested… Source link

Associated Press Intuit to pay $141M settlement over ‘free’ TurboTax ads The company behind the TurboTax tax-filing program will pay $141 million to customers across the United States who were deceived by misleading promises of free tax-filing services, New York’s attorney general announced Wednesday. Under the terms of a settlement signed by the attorneys general of all 50 states, Mountain View, California-based Intuit Inc. will suspend TurboTax’s “free, free, free” ad campaign and pay… Source link

Berkshire Hathaway Vice Chairman Charlie Munger did some kicking of a downed dog on Saturday. “Wasn’t that pretty obvious that something like that was going to happen?” Munger said during the Berkshire Hathaway annual shareholders meeting after bringing up Robinhood’s business troubles, later adding the company’s business model “was disgusting… God is getting just. … There’s been some justice.” A spokesperson for Robinhood didn’t immediately return Yahoo Finance’s request for… Source link

Netflix (NFLX) is past its prime. Shares of the streaming media giant crashed nearly 40% on Wednesday as the company uncorked another disappointing quarter, sparking fresh worry on the Street about future growth potential. “I think its best days are behind it,” said Macquarie tech analyst Tim Nollen on Yahoo Finance Live. Nollen is one of the few analysts on Wall Street to downgrade Netflix shares ahead of the company’s latest results. And Nollen’s call looks to be spot on. Here’s how Netflix… Source link

Activist short-seller Spruce Point Capital Management is taking aim at medical device company Stryker (SYK). Spruce Point unveiled its latest attack on Wednesday, saying Stryker has overpaid for recent acquisitions, has used questionable accounting practices and has executive compensation that isn’t aligned with shareholder interests. The activist has called on Harvard Business School dean and Stryker audit committee member Srikant Datar to evaluate its findings with “independent forensic… Source link

Will there be a stock market crash in 2022? Most of Wall Street doesn’t think so, but short sellers are certainly betting on it. Short interest in the S&P 500 grew by 11 basis points from 2.09% to 2.2% between the end of last year and mid-March, the latest data from S&P Global Market Intelligence reflected. Bets against stocks across every sector in the benchmark except for financials grew by meaningful amounts during the period as the index corrected from all-time highs earlier in the year.