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It’s about three weeks until Steve Cohen returns to the hedge fund industry and he’s already amassed a substantial war chest.
Cohen was banned from managing other people’s money after an insider trading scandal. The ban was lifted this year, and Cohen has already raised at least $3 billion for the new fund, according to people familiar with the matter. Here’s our story.
Elsewhere in investing news, an infamous mystery trader refuses to give up on a bet that the stock market will go nuts. Investing legend Bill Gross said women have historically ‘gotten the short stick’ – then listed six positive qualities of men. And China just sent out a warning, and it went right over Wall Street’s head.
In deal news, 2018 has all the makings of a monster year for dealmakers. $10 billion Dropbox has filed the paperwork for an initial public offering. And Carlyle Group just promoted its latest crop of private equity all-stars – here are all the new partners and managing directors.
In crypto news, the crazy-good times for cryptocurrency traders may be over already. A major bitcoin conference is no longer accepting bitcoin payments because the fees and lag have gotten so bad. And 97% of all bitcoin are held by just 4% of addresses, Credit Suisse said in a note Thursday.
Lastly, take a look inside the hidden bedrooms on board Boeing’s 787 Dreamliner.