2019年5月12日
Uber had the worst first-day dollar loss ever of any US IPO
The much-anticipated Uber initial public offering managed to break a record, but not one that investors would have hoped for. The stock closed down 6.7% on its opening day to $US41.70, down from the $US45 a share the company priced at on Thursday night ahead of the IPO that had valued the company at $US75.5 billion. In total, the discount off the IPO price meant that investors who got in at that price saw a cumulative loss of $US655 million.
That made it the biggest first-day dollar loss of a US IPO. Percentage-wise, other IPOs have suffered far worse opening day closes. Ritter said on a percentage basis, Uber’s first day ranks as the 99th worst open for IPOs raising more than $US100 million. Prior to Friday, the largest first-day dollar loss of a US IPO was in 2000 when Genuity, an internet company spun out of Verizon, went public. On its first day, Genuity had lost $US233 million.
Billionaire real-estate investor Sam Zell says now is 'the time to accumulate capital'
Hedge fund reporter Bradley Saacks spent the past week in Las Vegas at Anthony Scaramucci’s infamous SALT Conference. But while the schmoozy conference has been known in the past for its hedge fund headliners (and wild after parties), investing titans like Steve Cohen and Bill Ackman were conspicuously absent this year from the event. In their place were a number of former Trump administration officials, like former chief of staff John Kelly and former attorney general Jeff Sessions.
The shift away from a focus on hedge funds comes as the industry grapples with performance issues. 2018 was a rough year for the market and even as funds gained an average of 5.4% in the first quarter of 2018, nearly $US15 billion left the industry in that period.
This means it’s also getting harder for more rank and file hedge funders to attend SALT, Bradley reported, as travel budgets are getting tighter. (“It’s easier to get approval for a conference in a convention center in Dallas over a Las Vegas casino,” said one investor).
Vegas wasn’t the ony place triggering bad hedge fund headlines. In Chicago at the Morningstar conference, AQR founder Cliff Asness said it’s a “pretty crappy” environment for his firm’s quantitative investing style (though he’s sticking by the strategy).
As returns lag, hedge funds are getting creative as they look for any edge they can get. Stay tuned for more stories from us on this theme.
Groundbreaking Device Fixes Slow Wi-Fi And Exposes Greedy Internet Service Providers
Does it take forever for your WiFi connection to load a single web page? We now know its because ISP's (internet service provider) are selling us cheap, substandard wifi routers. This is a common trick they use, so that customers need to pay more and upgrade to get the good and fast internet speeds across their whole home.
However, now there's a new device that solves this and many more frustrating Wi-Fi problems. It's the idea of an ex-engineer of one of the largest internet providers in Australia. he developed a device that boosts the ISP's signal across his entire house. At the same time, it greatly increases the range and speed of your existing home WiFi. Finally, this device is so simple, that anyone with no technical knowledge could use it.
Is that the ISPs sell us are cheap WiFi router boxes? The signal is too weak to go through brick walls, without losing a lot of speed. They can't handle lots of devices or heavy use either. SuperBoost is essentially a powerful amplifier and signal extender, all in one tiny box. It works by receiving your existing WiFi signal, boosting it, and then transmitting the super-amplified Wi-Fi through anything; concrete walls, multiple floors and steel beam.
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