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Bank of America asked 65 investors their biggest fear
The more that people cram into an investment position, the more violent the stampede to the exits will be at the first sign of trouble.
It’s a relatively straightforward dynamic that’s played out countless times throughout market history, across a wide range of asset classes.
And even though such a risk seems obvious, traders still have a tough time knowing when to cut and run. After all, if they get out too early, they could miss more potential gains.
Luckily, in the spirit of preventing a mass exodus, investors in the credit space seem acutely aware of the risks associated with crowded positions. According to a Bank of America Merrill Lynch (BAML) survey of 65 credit investors, a sharp loss of liquidity is now their biggest worry of all.
Amazon just hit an all-time high as it inches towards becoming a $US1 trillion company
Shares of Amazon climbed 0.8% on Thursday, hitting an all-time high of $US1,899.96, as the e-commerce giant inches towards a $US1 trillion valuation.
The stock now just needs another 7% gain in order to hit a market cap of $US1 trillion. Based on the current number of outstanding shares – 487.74 million – a stock price of $US2,050.27 would get it over the hump.
Apple made headlines last week when it became the first US companyto reach the milestone.
Tribune Media rejects $US3.9 billion sale to Sinclair
Tribune Media Co. terminated its $US3.9 billion deal to be acquired by Sinclair Broadcast Group and filed suit, the company said Thursday, after regulators objected to the acquisition that had received support from US President Donald Trump.
Tribune filed a lawsuit against Sinclair, the largest US broadcast station owner, alleging material breach of contract 15 months after the merger was first announced.
The Federal Communications Commission said in July that Sinclair “did not fully disclose” facts about the merger, raising questions about whether the company “attempted to skirt the commission’s broadcast ownership rules.”
The crypto bear market has been a blessing for this bitcoin trading firm’s booming new business
Bitcoin markets have been in a tailspin this week, but that’s actually been a blessing for one trading firm’s burgeoning new lending business.
Genesis Global Trading, a crypto trading shop based in New York, launched a crypto lending unit, Genesis Capital, earlier this year.That business originated $US30 million in crypto loans on Tuesday, its largest amount ever, according to chief executive officer Michael Moro. The company typically lends out around $US2 million per day on average.
In a sense, it could be a bearish indicator for the market. Many of the people who are borrowing crypto from the firm are doing so in order to take a short position on a given coin.
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