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Lawsuit Alleges That Theranos Ran Fake Blood Tests to Dupe Directors and Investors
Citing unsealed court documents, the Wall Street Journal is reporting that Theranos Inc. allegedly used a shell company to "secretly" acquire commercial-lab equipment that misled its company directors about the efficacy of its blood-testing technology and also inflated its financial projections to investors. Per the Journal: The Silicon Valley company—which once promised to revolutionize the blood-testing industry using tiny samples
Report: Spurning Higher Salaries, Many MBAs Are Choosing to Work at Fintech Startups Instead
FinTech
Although the common career path for people who earn an MBA is to take their talents to the world of banking or consulting, a growing number of people leaving business school are being lured away by fintech startups, spurring the promise of a higher salary in order to be at the center of innovation in financial services, the Financial Times
Apple Totally Busted Uber Illegally Tracking iPhone Users
The New York Times published a big feature over the weekend examining how Uber CEO Travis Kalanick's questionable management practices - specifically his propensity toward risk-taking -  has pushed the ride-sharing company precariously close to unraveling. But one of the most eye-opening revelations from the article by Mike Issac comes at the very beginning, detailing a previously unreported meeting that
Mike Novogratz Bets Big on Bitcoin and Ether
FinTech
After a less than perfect exit from the hedge fund industry, Fortress’ former global macro whiz, Michael Novogratz, goes big on digital currencies. CNN Money: "Ten percent of my net worth is in this space," Novogratz said at a forum held at the Harvard Business School Club of New York Wednesday. He declined to say exactly how wealthy he is,
Virtu Makes $1.4 Billion Move in Tepid Fintech M&A Market
FinTech
Virtu Financial (NASDAQ: VIRT) has agreed to acquire rival high-frequency trading platform KCG (NYSE: KCG) for $1.4 billion in cash. At $20 per share, the deal represents a 12.7% premium to KCG’s closing price Wednesday. The combination will help the companies improve scale and find cost efficiencies in an environment with increasingly tight margins, as more and more investors begin
Bonds Are Different: The Active Advantage
Ask an investor if most active bond funds outperform their passive counterparts and the response is likely to be "no." After all, if one investor beats the market, another must lag it. Active strategies incur higher fees, so the majority should underperform their lower-fee passive counterparts. Recent media coverage on the rotation from active to passive funds – although focused
India to Be Third-Largest Consumer Market
Anticipated spending growth of 12% a year will make India the world's third-largest consumer market by 2025, according to a new estimate. The forecast from the Boston Consulting Group, a consultancy, predicts that consumption will triple to $4 trillion in the period. “India’s consumer market is poised for fundamental change,” said Nimisha Jain, partner at the consultancy. “As the consumer
Could UK's Snap Election Signal Softer Brexit Stance?
British Prime Minister Theresa May has called a snap election on June 8. With only a slim majority in parliament, she hopes to strengthen her position ahead of complex Brexit negotiations. May’s announcement that the UK is heading to the polls three years ahead of schedule is a surprise in terms of timing. But an early election has looked tempting
Hedge Fund Assets Rise Again With Quants Leading the Way
Hedge Funds
Despite the headwinds of sporadic performance and pressure to switch allocations to low-fee passive products, the hedge fund industry nonetheless continues to increase in size. As investors brace for potential market uncertainty, hedge fund assets under management increased to $3.07 trillion, according to the latest HFR Global Hedge Fund Industry Report. The positive report comes as Goldman Sachs is forecasting
Investment Strategy: What Matters in the Search for More Return Sources
A prior blog post shared the view that the low return environment requires investors to tap many return sources. One of these sources is dynamically adjusting portfolio allocations. This is easier said than done, though, and this blog will explore how investors can put dynamism into practice. Cycle, Value and Sentiment In our investment strategists’ investment strategy, we focus on