Leon Black: A Career-Making 1990 Call and a Career-Ending One in the 2010s
He owes Apollo’s boffo start to the killing he made on an insurer’s then-skanky high-yield bonds. Then came Epstein.
Market Moves
News From Davos: Goldman’s Solomon, ECB’s Lagarde Tout Government Stimulus
In Washington, there’s a fight over more relief, as the European Union just passed a huge aid measure.
Biden Logs Best Market Showing Between Election and Inauguration
Big question: Will it keep going? Herbert Hoover’s showing was pretty good, too.
Follow Up: BlackRock’s TIPS Call Looks Prescient
Expecting higher inflation, the asset manager has called for investing in the security that shields investors.
Schwarzman Predicts Gentler Biden Approach to Beijing
Blackstone head has been close to Trump, but he also is an investor in Chinese companies.
With Inflation Expected to Edge Higher, BlackRock Says Buy TIPS
They’re the best way to offset an upward trend in the CPI, the firm advises.
Stocks Do Well with Total Democratic Dominance in Washington, Study Says
History shows that equities advance an average 9.1% then, LPL research finds.
Goldman: Total Democratic Control of Washington Will Improve Economic Growth
The party’s dominance will permit a third round of federal stimulus this winter, lifting 2021 GDP to 6.4% growth, the firm says, as it brightens its forecast.
UBS: Where to Invest as the Dollar Keeps Weakening in 2021
Some asset classes stand to do very well, the bank finds, with no end in sight to the buck’s free-fall.
Oil Appears Ready to Break Out of Its Price Rut
Opportunity awaits for investors while crude is stuck in ‘virus alley,’ say strategists.
Will a Santa Claus Rally Grace This Yuletide?
Forget the 12 days of Christmas: Today marks the beginning of the traditional year-end market jump, LPL says, if it happens.
Market Already Has Priced in Good 2021 Earnings, Says Moody’s
Profit forecasts are heady for next year, after 2020’s bust. But it won’t boost stocks much, John Lonski says.
December Should Be OK, Just Not Its Usual Top-Tier Self
Muted market gains this month, strategists say, are overshadowed by blow-out earlier months.
Maybe Joe Biden and Mitch McConnell Can Actually Work Together
Northern Trust’s Browne is optimistic that the new president is simpatico with the GOP Senate leader, who blocked many Obama initiatives.
Finally, Financial Stocks Are Poised to Rise, Says Credit Suisse
A better economy and higher interest rates should propel the woebegone sector in 2021 and 2022, it argues.