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Barclays invests significantly in BlackRock Bitcoin ETF signaling market shift
Barclays has significantly increased its stake in the BlackRock Bitcoin ETF (IBIT), holding 2.47 million shares valued at $131.2 million as of December 31, 2024. This move marks a notable shift for the bank, which previously held a minimal position in Grayscale's Bitcoin Mini Trust ETF, and positions Barclays among the top ten investors in IBIT. Despite this investment representing only 0.04% of its overall portfolio, it reflects a growing acceptance of Bitcoin ETFs by traditional financial institutions following their SEC approval in January 2024.
david einhorn discusses cautious market strategies at delivering alpha summit
David Einhorn, the hedge fund investor and founder of Greenlight Capital, reported a 9% return in 2024, significantly trailing the S&P 500's over 20% gain. He remains cautiously positioned in what he describes as the most expensive stock market since Greenlight's inception, focusing on opportunities in stocks like Alight and Viatris while maintaining a large gold position amid inflation concerns. Einhorn will share his insights on equity valuations and inflation at CNBC’s Delivering Alpha Investor Summit in New York City.
Berkshire Hathaway's cash reserves surged to a record $325.2 billion in Q3, as Warren Buffett sold significant portions of his stakes in Apple and Bank of America, totaling $36.1 billion in stock sales. The company refrained from share buybacks, maintaining a conservative approach amid a strong stock market and concerns over rising fiscal deficits. Operating earnings fell 6% year-over-year to $10.1 billion, slightly below analyst expectations.
paul tudor jones warns of fiscal crisis after election spending promises
Billionaire hedge fund manager Paul Tudor Jones warns of a looming fiscal crisis in the U.S. due to rising government spending and a soaring deficit, projected to exceed $1.8 trillion for the 2024 fiscal year. He cautions that this could trigger a significant sell-off in the bond market, leading to higher interest rates and a potential "Minsky moment" where the unsustainability of fiscal policies becomes apparent. Jones criticizes both Donald Trump and Kamala Harris as ill-suited to address these budget challenges and emphasizes the need for substantial spending reforms.
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