Short Seller Hindenburg Research Targets Carl Icahn’s Conglomerate

In a new report, the firm alleges Icahn Enterprises has used “inflated” asset valuations. The short seller has also targeted Adani Group and payments company Block this year. The shorter seller that took on Asia’s richest man is targeting the business empire run by another billionaire: Carl Icahn. Hindenburg Research, which earlier this year released … Read more

ICICI Prudential Mutual Fund launches scheme on innovation theme

ICICI Prudential Mutual Fund has launched an innovation fund which will invest in domestic and foreign companies involved in either product or solution related innovation. The scheme will invest across market capitalisation and sectors. The new fund offer, which opened on April 10, will close on April 24.   In a press release, the fund … Read more

I Was Burned Out When I Sold My Startup, but I Started Another

Ankur Nagpal started his first company Teachable in 2013. He enjoyed running Teachable at first, but after he sold it, he was left feeling burned out. Nagpal thought he would never start another company again — until he founded Ocho Wealth. This as-told-to essay is based on a conversation with Ankur Nagpal, 34, who founded … Read more

Investors Pour $286 Billion Into Money Market Funds Amid Bank Fears

Over $286 billion has made its way into money market funds in March, The FT reported. “We are seeing shifts into money market funds by every segment of investor,” Goldman Sachs said. Bank deposit outflows have risen to $17.5 trillion, and have notched $5.4 trillion at smaller banks. Depositors’ search for a safe haven has … Read more

360 One acquires controlling stake in Mumbai Angels

360 One has completed acquisition of a controlling stake in Mumbai Angels. Mumbai Angels is one of the oldest and a leading player in the early investment space. Financial details of the transaction have not been disclosed. Reason for the subject transaction is obviously the synergy between Mumbai Angel’s network, wide experience in the investment … Read more

Nancy Pelosi’s Portfolio Plunged 20% in 2022 Stock Market Crash

Nancy Pelosi’s portfolio slumped 20% last year, according to an Unusual Whales report published last week. That means the former ‘Queen of Stonks’ lagged the S&P 500 in 2022. But many other politicians – including Georgia Rep. Marjorie Taylor Greene – beat the benchmark index. Nancy Pelosi’s run as the “Queen of Stonks” appears to have … Read more

Six big banks of Wall Street score $1 trillion of profit in a decade

Malick Diop felt something shifting on Wall Street. He’d joined Morgan Stanley in the grim days of 2009, when big banks were trying to pay back taxpayer bailouts and deflect public fury. But four years later, the ire was fading and ambition was the order of the day. “It really felt like, for the first … Read more

Mutual fund growth reverses to mean after 2021 sprint, shows data

Growth of mutual funds (MFs) subsided in 2022 as the equity market struggled to inch up. Until November this year, the industry has added 5.8 million investors, compared with 6.8 million in the corresponding period last year. The assets under management has risen by Rs 2.6 trillion during the period, down 63 per cent from … Read more