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(Bloomberg) -- PointState Capital, the macro hedge fund started by former traders for billionaire Stan Druckenmiller, is blocking investors who ask to pull their money out from getting their cash back in full.Clients who withdrew their investments at the end of last year will get 88% back in cash, according to a letter to investors seen by Bloomberg. The remaining 12% will be distributed as shares in new portfolios created to hold assets with “somewhat limited liquidity” that the firm’s management deemed would take longer to sell than they previously thought. Redemptions on March 31 or later may be subject to similar terms, the letter states.Redemptions for the fourth quarter were $196 million, according to a person familiar with the firm, who added that the assets moved to the new portfolios included a residual private equity investment, a pre-IPO convertible note and a cash collateralized loan.“We’ve concluded that this is the...
General Motors Co will revive the Hummer name to sell a new family of electric pickup trucks and sport utility vehicles and will tout the return with a Super Bowl ad featuring NBA star LeBron James, two people briefed on the matter said on Friday. Reuters reported in October that GM planned to build a new family of premium electric pickup trucks at its Detroit-Hamtramck plant beginning in late 2021 and was considering reviving the Hummer name, citing several people familiar with the plans. The Wall Street Journal reported GM's decision to move forward earlier on Friday....
A less-than-stellar jobs reports caused stocks to take a breather on Friday. Let's take a look at a few top stock trades for next week: Top Stock Trades for Tomorrow 1: Disney (DIS)Source: Chart courtesy of StockCharts.comWhile the broader market continues to churn its way to new highs, Disney (NYSE:DIS) stock is not whistling the same tune. To be fair, the stock is still up big, but after peaking in late-November, it's been unable to garner much upside action.It sits on key support, as investors wonder whether this will give DIS a much-needed boost or if it will fail and trigger more declines.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe stock was trading in a descending triangle pattern, as downtrend resistance (blue line) squeezed shares lower against a static level of support (black line). However, rather than break down -- which DIS almost did -- shares broke out over...
One millionaire is in favor of Sen. Elizabeth Warren's proposal for a wealth tax and explained why....
