Thursday, July 29

Goldman Sachs

Bitcoin, crypto, cryptocurrency, Goldman Sachs, goldman sachs bitcoin, Markets, MI Exclusive, Morgan Stanley, Morgan Stanley bitcoin, Ralph Hamers, UBS, UBS Evidence Lab, UBS Financial Services

UBS CEO says crypto is an untested asset class and he isn’t worried about missing out on clients

Ralph Hamers, CEO of UBS, gestures during in Zurich, Switzerland, Thursday, Feb. 20, 2020. Walter Bieri/Keystone via AP Ralph Hamers, the CEO of Swiss Bank UBS Group, said when it comes to cryptocurrencies, he advises his clients with caution. "We feel that crypto itself is still an untested asset category," the chief executive told Bloomberg on Tuesday. "We don't offer it actively."In May, UBS was reportedly in talks to offer cryptocurrency investments to its wealthy clients, joining many firms in responding to increasing client demand for digital assets.But any offering, sources told Bloomberg, would only be in small portions of their total investment to protect them from cryptocurrencies' famous price swings. "Clients are looking at different alternatives and they hear ...
Economy, Goldman Sachs, Markets, Productivity, Remote Work, Work From Home Economy, Work travel

Use this Goldman Sachs data to convince your boss you should work from home and travel less for meetings

Goldman Sachs found productivity jumped by 3% during the pandemic, especially in jobs that worked remotely. Productivity is measured by looking at how much output workers produce per hour on average. To be sure, people may have been more productive last year, but they were also burned out. LoadingSomething is loading. ...
crypto, Exchange, ftx, Goldman Sachs, Markets, MI Exclusive, Sam Bankman-Fried

29-year-old crypto billionaire Sam Bankman-Fried said in a recent interview that buying Goldman Sachs is’not out of the question’

Sam Bankman-Fried, founder and CEO of crypto exchange FTX. FTX Official/YouTube Sam Bankman-Fried, CEO of crypto exchange FTX, told the FT that acquiring Goldman Sachs was "not out of the question" should FTX grow big enough. FTX is in the midst of a new funding round, but doesn't have current plans to IPO. Average daily trading volume on FTX has shot up 11-fold between October and April of this year. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Sam Bankman-Fried, the CEO of crypto exchange FTX, said in an interview with the Financial Times that acquiring Goldman Sachs or CME Group was "not out of the question" should FTX grow big enough.FTX-which Bankman-Fried has previously said is seeking a $20 billion valuation-still has yet to overtake its crypt...
Berkshire Hathaway, Byron Trott, Goldman Sachs, Grills, IPO, m&a, Markets, MI Exclusive, Warren Buffett, Weber

Warren Buffett’s favorite banker has filed to take Weber public-and the grill maker could secure a billion-dollar valuation

Warren Buffett. AP Images Warren Buffett's longtime banker plans to take Weber public, SEC filings show. Byron Trott's BDT has been the grilling company's majority shareholder since 2010. Buffett has lauded Trott's dealmaking skills, expertise, and trustworthiness. See more stories on Insider's business page. Warren Buffett's favorite banker has filed to take Weber public, paving the way for the grilling specialist to deliver a billion-dollar IPO.BDT Capital Partners, helmed by founder and CEO Byron Trott, has been Weber's majority shareholder since 2010 and has agreed to sponsor its IPO. Weber boasts a global installed base of 50 million grills, and commands a 24% share of the global market, according to its draft IPO filing.Notably, Weber has enjoyed some benefits from the COVI...
Bond Yields, Goldman Sachs, inflation, Markets, MI Exclusive, s&p 500, Stock Market Outlook, US stocks

Goldman Sachs says a surge in bond yields could knock the S&P 500 down 17% this year, as it imagines surprise scenarios

Goldman Sachs analysts looked into possible risks to US stocks. Ramin Talaie/Getty Images A surge in bond yields could cause the S&P 500 to tumble 17% from its current level, according to a Goldman Sachs research note looking into factors that could cause the benchmark index to rise or fall more than expected.Goldman analysts, led by chief US equity strategist David Kostin, said a sharp rise in the 10-year US Treasury yield to 2.5% by the end of the year would weigh on stock prices by making companies' dividends look less attractive.Such a jump in yields would imply a fair value for the S&P 500 of just 3,550, Goldman said-around 17% below Monday's closing price of 4,290.61.Yet Goldman and the rest of the market believe bond yields are very unlikely to rise that far. Such a jump w...