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Ahyeo
2021-06-25
Nice article.
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Ahyeo
2021-06-23
Read. Interesting
抱歉，原内容已删除
Ahyeo
2021-06-22
Hii I'm new here.
Hedge fund that bet against GameStop shuts down
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Interesting","listText":"Read. Interesting","text":"Read. Interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/121167716","repostId":"1174672721","repostType":4,"isVote":1,"tweetType":1,"viewCount":296,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":129969580,"gmtCreate":1624351957440,"gmtModify":1631891189294,"author":{"id":"3587086622789535","authorId":"3587086622789535","name":"Ahyeo","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3587086622789535","authorIdStr":"3587086622789535"},"themes":[],"htmlText":"Hii I'm new here.","listText":"Hii I'm new here.","text":"Hii I'm new here.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/129969580","repostId":"1147836907","repostType":4,"repost":{"id":"1147836907","kind":"news","pubTimestamp":1624351692,"share":"https://www.laohu8.com/m/news/1147836907?lang=&edition=full","pubTime":"2021-06-22 16:48","market":"us","language":"en","title":"Hedge fund that bet against GameStop shuts down","url":"https://stock-news.laohu8.com/highlight/detail?id=1147836907","media":"Financial Times","summary":"White Square move marks one of first closures of fund hit by surges in so-called meme stocks.\n\nPleas","content":"<blockquote>\n White Square move marks one of first closures of fund hit by surges in so-called meme stocks.\n</blockquote>\n<p>Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of</p>\n<p>FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found here.</p>\n<p>https://www.ft.com/content/397bdbe9-f257-4ca6-b600-1756804517b6?ftcamp=traffic/partner/feed_headline/us_yahoo/auddev</p>\n<p>A London-based hedge fund that suffered losses betting against US retailer GameStop during the first meme stock rally in January is shutting its doors.</p>\n<p>White Square Capital, run by former Paulson & Co trader Florian Kronawitter, told investors that it would shut its main fund and return capital this month after a review of its business model, according to people familiar with the fund and a letter to investors.</p>\n<p>White Square, which at its peak managed about $440m in assets, had bet against GameStop, say people familiar with its positioning, and suffered double-digit per cent losses in January.</p>\n<p>The move marks one of the first closures of a hedge fund hit by the huge surges in so-called meme stocks. Retail investors, often co-ordinating their actions on online forums such as Reddit’s r/WallStreetBets and in some cases deliberately targeting hedge fund short sellers, drove up the price of stocks such as GameStop and cinema chain AMC Entertainment in January and again in recent weeks. GameStop, for instance, soared from less than $20 at the start of the year to more than $480 at its January peak.</p>\n<p>That led to big losses for some funds, including US-based Melvin Capital, run by Steve Cohen protégé Gabe Plotkin, and Light Street Capital, run by Glen Kacher, a former Tiger cub who worked at Julian Robertson’s Tiger Management. However, the funds remain in operation, and shortly after its losses Melvin received a $2.75bn investment from Cohen’s Point72 Asset Management and Ken Griffin’s Citadel.</p>\n<p>“The decision to close down is related to thinking the equity long-short model is challenged,” said Kronawitter.</p>\n<p>“There are way too many fish in the pond with the same strategy of long-short,” he added. “The traditional edge is being arbed away [eroded by other investors], there’s an oversupply of capital.”</p>\n<p>A person close to the fund said the decision to shut was unrelated to the meme stock rally. The fund quickly rebounded in the wake of January’s turmoil and made back “a fair share” of the losses, the person added.</p>\n<p>Among other funds hit, Melvin was still down about 44.7 per cent this year to the end of last month, while Light Street was down about 20.1 per cent.</p>\n<p>Kronawitter, who previously worked at US billionaire John Paulson’s hedge fund and Merrill Lynch, had made double-digit gains at White Square in 2015 and 2016, said a person who had seen the numbers, while last year it made about 19 per cent.</p>\n<p>In the investor letter announcing the fund’s closure, White Square said that last year, despite that year’s strong performance, two large investors had opted to withdraw their cash and put it in cheap passive funds or private equity. “We experienced first-hand the shift in trend away from hedge fund investing to cheaper alternatives,” it added.</p>\n<p>According to the letter, White Square had been due to receive investor inflows again in May this year, but instead decided to shut the fund.</p>\n<p>“The arbitrage opportunities have diminished with both the onslaught of capital caused by central bank monetary interventions, as well as much improved dissemination of information, bringing up the question to what degree the same fees can be justified,” it said.</p>","source":"lsy1580170736413","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hedge fund that bet against GameStop shuts down</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHedge fund that bet against GameStop shuts down\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-22 16:48 GMT+8 <a href=https://www.ft.com/content/397bdbe9-f257-4ca6-b600-1756804517b6?ftcamp=traffic/partner/feed_headline/us_yahoo/auddev><strong>Financial Times</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>White Square move marks one of first closures of fund hit by surges in so-called meme stocks.\n\nPlease use the sharing tools found via the share button at the top or side of articles. Copying articles ...</p>\n\n<a href=\"https://www.ft.com/content/397bdbe9-f257-4ca6-b600-1756804517b6?ftcamp=traffic/partner/feed_headline/us_yahoo/auddev\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.ft.com/content/397bdbe9-f257-4ca6-b600-1756804517b6?ftcamp=traffic/partner/feed_headline/us_yahoo/auddev","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147836907","content_text":"White Square move marks one of first closures of fund hit by surges in so-called meme stocks.\n\nPlease use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of\nFT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found here.\nhttps://www.ft.com/content/397bdbe9-f257-4ca6-b600-1756804517b6?ftcamp=traffic/partner/feed_headline/us_yahoo/auddev\nA London-based hedge fund that suffered losses betting against US retailer GameStop during the first meme stock rally in January is shutting its doors.\nWhite Square Capital, run by former Paulson & Co trader Florian Kronawitter, told investors that it would shut its main fund and return capital this month after a review of its business model, according to people familiar with the fund and a letter to investors.\nWhite Square, which at its peak managed about $440m in assets, had bet against GameStop, say people familiar with its positioning, and suffered double-digit per cent losses in January.\nThe move marks one of the first closures of a hedge fund hit by the huge surges in so-called meme stocks. Retail investors, often co-ordinating their actions on online forums such as Reddit’s r/WallStreetBets and in some cases deliberately targeting hedge fund short sellers, drove up the price of stocks such as GameStop and cinema chain AMC Entertainment in January and again in recent weeks. GameStop, for instance, soared from less than $20 at the start of the year to more than $480 at its January peak.\nThat led to big losses for some funds, including US-based Melvin Capital, run by Steve Cohen protégé Gabe Plotkin, and Light Street Capital, run by Glen Kacher, a former Tiger cub who worked at Julian Robertson’s Tiger Management. However, the funds remain in operation, and shortly after its losses Melvin received a $2.75bn investment from Cohen’s Point72 Asset Management and Ken Griffin’s Citadel.\n“The decision to close down is related to thinking the equity long-short model is challenged,” said Kronawitter.\n“There are way too many fish in the pond with the same strategy of long-short,” he added. “The traditional edge is being arbed away [eroded by other investors], there’s an oversupply of capital.”\nA person close to the fund said the decision to shut was unrelated to the meme stock rally. The fund quickly rebounded in the wake of January’s turmoil and made back “a fair share” of the losses, the person added.\nAmong other funds hit, Melvin was still down about 44.7 per cent this year to the end of last month, while Light Street was down about 20.1 per cent.\nKronawitter, who previously worked at US billionaire John Paulson’s hedge fund and Merrill Lynch, had made double-digit gains at White Square in 2015 and 2016, said a person who had seen the numbers, while last year it made about 19 per cent.\nIn the investor letter announcing the fund’s closure, White Square said that last year, despite that year’s strong performance, two large investors had opted to withdraw their cash and put it in cheap passive funds or private equity. “We experienced first-hand the shift in trend away from hedge fund investing to cheaper alternatives,” it added.\nAccording to the letter, White Square had been due to receive investor inflows again in May this year, but instead decided to shut the fund.\n“The arbitrage opportunities have diminished with both the onslaught of capital caused by central bank monetary interventions, as well as much improved dissemination of information, bringing up the question to what degree the same fees can be justified,” it said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":177,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":129969580,"gmtCreate":1624351957440,"gmtModify":1631891189294,"author":{"id":"3587086622789535","authorId":"3587086622789535","name":"Ahyeo","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3587086622789535","idStr":"3587086622789535"},"themes":[],"htmlText":"Hii I'm new here.","listText":"Hii I'm new here.","text":"Hii I'm new here.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/129969580","repostId":"1147836907","repostType":4,"repost":{"id":"1147836907","kind":"news","pubTimestamp":1624351692,"share":"https://www.laohu8.com/m/news/1147836907?lang=&edition=full","pubTime":"2021-06-22 16:48","market":"us","language":"en","title":"Hedge fund that bet against GameStop shuts down","url":"https://stock-news.laohu8.com/highlight/detail?id=1147836907","media":"Financial Times","summary":"White Square move marks one of first closures of fund hit by surges in so-called meme stocks.\n\nPleas","content":"<blockquote>\n White Square move marks one of first closures of fund hit by surges in so-called meme stocks.\n</blockquote>\n<p>Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of</p>\n<p>FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found here.</p>\n<p>https://www.ft.com/content/397bdbe9-f257-4ca6-b600-1756804517b6?ftcamp=traffic/partner/feed_headline/us_yahoo/auddev</p>\n<p>A London-based hedge fund that suffered losses betting against US retailer GameStop during the first meme stock rally in January is shutting its doors.</p>\n<p>White Square Capital, run by former Paulson & Co trader Florian Kronawitter, told investors that it would shut its main fund and return capital this month after a review of its business model, according to people familiar with the fund and a letter to investors.</p>\n<p>White Square, which at its peak managed about $440m in assets, had bet against GameStop, say people familiar with its positioning, and suffered double-digit per cent losses in January.</p>\n<p>The move marks one of the first closures of a hedge fund hit by the huge surges in so-called meme stocks. Retail investors, often co-ordinating their actions on online forums such as Reddit’s r/WallStreetBets and in some cases deliberately targeting hedge fund short sellers, drove up the price of stocks such as GameStop and cinema chain AMC Entertainment in January and again in recent weeks. GameStop, for instance, soared from less than $20 at the start of the year to more than $480 at its January peak.</p>\n<p>That led to big losses for some funds, including US-based Melvin Capital, run by Steve Cohen protégé Gabe Plotkin, and Light Street Capital, run by Glen Kacher, a former Tiger cub who worked at Julian Robertson’s Tiger Management. However, the funds remain in operation, and shortly after its losses Melvin received a $2.75bn investment from Cohen’s Point72 Asset Management and Ken Griffin’s Citadel.</p>\n<p>“The decision to close down is related to thinking the equity long-short model is challenged,” said Kronawitter.</p>\n<p>“There are way too many fish in the pond with the same strategy of long-short,” he added. “The traditional edge is being arbed away [eroded by other investors], there’s an oversupply of capital.”</p>\n<p>A person close to the fund said the decision to shut was unrelated to the meme stock rally. The fund quickly rebounded in the wake of January’s turmoil and made back “a fair share” of the losses, the person added.</p>\n<p>Among other funds hit, Melvin was still down about 44.7 per cent this year to the end of last month, while Light Street was down about 20.1 per cent.</p>\n<p>Kronawitter, who previously worked at US billionaire John Paulson’s hedge fund and Merrill Lynch, had made double-digit gains at White Square in 2015 and 2016, said a person who had seen the numbers, while last year it made about 19 per cent.</p>\n<p>In the investor letter announcing the fund’s closure, White Square said that last year, despite that year’s strong performance, two large investors had opted to withdraw their cash and put it in cheap passive funds or private equity. “We experienced first-hand the shift in trend away from hedge fund investing to cheaper alternatives,” it added.</p>\n<p>According to the letter, White Square had been due to receive investor inflows again in May this year, but instead decided to shut the fund.</p>\n<p>“The arbitrage opportunities have diminished with both the onslaught of capital caused by central bank monetary interventions, as well as much improved dissemination of information, bringing up the question to what degree the same fees can be justified,” it said.</p>","source":"lsy1580170736413","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hedge fund that bet against GameStop shuts down</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHedge fund that bet against GameStop shuts down\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-22 16:48 GMT+8 <a href=https://www.ft.com/content/397bdbe9-f257-4ca6-b600-1756804517b6?ftcamp=traffic/partner/feed_headline/us_yahoo/auddev><strong>Financial Times</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>White Square move marks one of first closures of fund hit by surges in so-called meme stocks.\n\nPlease use the sharing tools found via the share button at the top or side of articles. Copying articles ...</p>\n\n<a href=\"https://www.ft.com/content/397bdbe9-f257-4ca6-b600-1756804517b6?ftcamp=traffic/partner/feed_headline/us_yahoo/auddev\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GME":"游戏驿站"},"source_url":"https://www.ft.com/content/397bdbe9-f257-4ca6-b600-1756804517b6?ftcamp=traffic/partner/feed_headline/us_yahoo/auddev","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1147836907","content_text":"White Square move marks one of first closures of fund hit by surges in so-called meme stocks.\n\nPlease use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of\nFT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found here.\nhttps://www.ft.com/content/397bdbe9-f257-4ca6-b600-1756804517b6?ftcamp=traffic/partner/feed_headline/us_yahoo/auddev\nA London-based hedge fund that suffered losses betting against US retailer GameStop during the first meme stock rally in January is shutting its doors.\nWhite Square Capital, run by former Paulson & Co trader Florian Kronawitter, told investors that it would shut its main fund and return capital this month after a review of its business model, according to people familiar with the fund and a letter to investors.\nWhite Square, which at its peak managed about $440m in assets, had bet against GameStop, say people familiar with its positioning, and suffered double-digit per cent losses in January.\nThe move marks one of the first closures of a hedge fund hit by the huge surges in so-called meme stocks. Retail investors, often co-ordinating their actions on online forums such as Reddit’s r/WallStreetBets and in some cases deliberately targeting hedge fund short sellers, drove up the price of stocks such as GameStop and cinema chain AMC Entertainment in January and again in recent weeks. GameStop, for instance, soared from less than $20 at the start of the year to more than $480 at its January peak.\nThat led to big losses for some funds, including US-based Melvin Capital, run by Steve Cohen protégé Gabe Plotkin, and Light Street Capital, run by Glen Kacher, a former Tiger cub who worked at Julian Robertson’s Tiger Management. However, the funds remain in operation, and shortly after its losses Melvin received a $2.75bn investment from Cohen’s Point72 Asset Management and Ken Griffin’s Citadel.\n“The decision to close down is related to thinking the equity long-short model is challenged,” said Kronawitter.\n“There are way too many fish in the pond with the same strategy of long-short,” he added. “The traditional edge is being arbed away [eroded by other investors], there’s an oversupply of capital.”\nA person close to the fund said the decision to shut was unrelated to the meme stock rally. The fund quickly rebounded in the wake of January’s turmoil and made back “a fair share” of the losses, the person added.\nAmong other funds hit, Melvin was still down about 44.7 per cent this year to the end of last month, while Light Street was down about 20.1 per cent.\nKronawitter, who previously worked at US billionaire John Paulson’s hedge fund and Merrill Lynch, had made double-digit gains at White Square in 2015 and 2016, said a person who had seen the numbers, while last year it made about 19 per cent.\nIn the investor letter announcing the fund’s closure, White Square said that last year, despite that year’s strong performance, two large investors had opted to withdraw their cash and put it in cheap passive funds or private equity. “We experienced first-hand the shift in trend away from hedge fund investing to cheaper alternatives,” it added.\nAccording to the letter, White Square had been due to receive investor inflows again in May this year, but instead decided to shut the fund.\n“The arbitrage opportunities have diminished with both the onslaught of capital caused by central bank monetary interventions, as well as much improved dissemination of information, bringing up the question to what degree the same fees can be justified,” it said.","news_type":1},"isVote":1,"tweetType":1,"viewCount":177,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":121167716,"gmtCreate":1624456994235,"gmtModify":1631891189278,"author":{"id":"3587086622789535","authorId":"3587086622789535","name":"Ahyeo","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3587086622789535","idStr":"3587086622789535"},"themes":[],"htmlText":"Read. Interesting","listText":"Read. Interesting","text":"Read. Interesting","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/121167716","repostId":"1174672721","repostType":4,"repost":{"id":"1174672721","kind":"news","pubTimestamp":1624448078,"share":"https://www.laohu8.com/m/news/1174672721?lang=&edition=full","pubTime":"2021-06-23 19:34","market":"us","language":"en","title":"Weekly mortgage refinance demand jumps as some fear end of super-low rates is near","url":"https://stock-news.laohu8.com/highlight/detail?id=1174672721","media":"cnbc","summary":"KEY POINTS\n\nThe average contract interest rate for 30-year fixed-rate mortgages with conforming loan","content":"<div>\n<p>KEY POINTS\n\nThe average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances rose to the highest level in a month.\nStill, applications to refinance a home loan rose 3%...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/23/weekly-mortgage-refinancing-jumps-on-fears-that-super-low-rates-are-ending.html\">Web Link</a>\n\n</div>\n","source":"cnbc_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Weekly mortgage refinance demand jumps as some fear end of super-low rates is near</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nWeekly mortgage refinance demand jumps as some fear end of super-low rates is near\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-06-23 19:34 GMT+8 <a href=https://www.cnbc.com/2021/06/23/weekly-mortgage-refinancing-jumps-on-fears-that-super-low-rates-are-ending.html><strong>cnbc</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>KEY POINTS\n\nThe average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances rose to the highest level in a month.\nStill, applications to refinance a home loan rose 3%...</p>\n\n<a href=\"https://www.cnbc.com/2021/06/23/weekly-mortgage-refinancing-jumps-on-fears-that-super-low-rates-are-ending.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{".SPX":"S&P 500 Index","SPY":"标普500ETF",".DJI":"道琼斯",".IXIC":"NASDAQ Composite"},"source_url":"https://www.cnbc.com/2021/06/23/weekly-mortgage-refinancing-jumps-on-fears-that-super-low-rates-are-ending.html","is_english":true,"share_image_url":"https://static.laohu8.com/72bb72e1b84c09fca865c6dcb1bbcd16","article_id":"1174672721","content_text":"KEY POINTS\n\nThe average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances rose to the highest level in a month.\nStill, applications to refinance a home loan rose 3% last week from the previous week, the Mortgage Bankers Association said.\nMortgage applications to purchase a home increased by 1% from the previous week and were 14% lower than a year ago.\n\nMortgage rates rose last week, along with demand for refinances. That may sound counterintuitive, but it speaks to the larger picture of where mortgage rates are heading.\nApplications to refinance a home loan rose 3% last week from the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Volume was 9% lower than a year earlier.\nThe data comes as the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($548,250 or less) rose to the highest level in a month. It increased to 3.18% from 3.11%, with points increasing to 0.48 from 0.36 (including the origination fee) for loans with a 20% down payment. The rate was just 12 basis points higher a year ago.\nRates jumped after Federal Reserve officials indicated last week that rate hikes could come in 2023, a year earlier than expected. However, they didn’t mention when they would start scaling back their massive bond-buying program, which has kept mortgage rates near record lows.\nRefinance demand had been falling sharply as rates rise but has improved in recent weeks. This may be because homeowners think rates are only going up, and it could be the last chance for the best deal. Rates set more than a dozen record lows last year, and refinance demand was huge. However, thousands of borrowers can still save now before rates move higher.\nMortgage applications to purchase a home increased 1% from the previous week and were 14% lower than a year ago. Buyers are hitting an affordability wall, as home prices keep rising quickly. A report onexisting home sales in Mayshowed the fourth straight month of declining home sales.\n“Falling affordability is simply squeezing some first-time buyers out of the market.,” said Lawrence Yun, chief economist for the National Association of Realtors, which issued the report Tuesday.","news_type":1},"isVote":1,"tweetType":1,"viewCount":296,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":126575068,"gmtCreate":1624580273654,"gmtModify":1631891189267,"author":{"id":"3587086622789535","authorId":"3587086622789535","name":"Ahyeo","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":3,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3587086622789535","idStr":"3587086622789535"},"themes":[],"htmlText":"Nice article.","listText":"Nice article.","text":"Nice article.","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/126575068","repostId":"2146002655","repostType":4,"repost":{"id":"2146002655","kind":"highlight","weMediaInfo":{"introduction":"Reuters.com brings you the latest news from around the world, covering breaking news in markets, business, politics, entertainment and technology","home_visible":1,"media_name":"Reuters","id":"1036604489","head_image":"https://static.tigerbbs.com/443ce19704621c837795676028cec868"},"pubTimestamp":1624576043,"share":"https://www.laohu8.com/m/news/2146002655?lang=&edition=full","pubTime":"2021-06-25 07:07","market":"us","language":"en","title":"Panasonic sold its entire stake in Tesla last fiscal year - Nikkei","url":"https://stock-news.laohu8.com/highlight/detail?id=2146002655","media":"Reuters","summary":"TOKYO, June 25 (Reuters) - Japan's Panasonic Corp sold all of its stake in Tesla Inc last fiscal yea","content":"<p>TOKYO, June 25 (Reuters) - Japan's Panasonic Corp sold all of its stake in Tesla Inc last fiscal year, in a move that likely earned it billions of dollars to fund new investments, the Nikkei business daily reported on Friday.</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Panasonic sold its entire stake in Tesla last fiscal year - Nikkei</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPanasonic sold its entire stake in Tesla last fiscal year - Nikkei\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1036604489\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/443ce19704621c837795676028cec868);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Reuters </p>\n<p class=\"h-time\">2021-06-25 07:07</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p>TOKYO, June 25 (Reuters) - Japan's Panasonic Corp sold all of its stake in Tesla Inc last fiscal year, in a move that likely earned it billions of dollars to fund new investments, the Nikkei business daily reported on Friday.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PCRFY":"松下","TSLA":"特斯拉"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2146002655","content_text":"TOKYO, June 25 (Reuters) - Japan's Panasonic Corp sold all of its stake in Tesla Inc last fiscal year, in a move that likely earned it billions of dollars to fund new investments, the Nikkei business daily reported on Friday.","news_type":1},"isVote":1,"tweetType":1,"viewCount":93,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}
