“Hell is coming.” Billionaire Wall Street hedge fund manager Bill Ackman made $2.75 billion betting against markets in February. Then he went on CNBC to stoke markets’ coronavirus fears. He gave a hell, fire and brimstone declamation that drove his bets home. Looking over the timeline, what Ackman did isn’t as bad as it sounds…
Billionaire venture capitalist Tim Draper says the bitcoin price will skyrocket to $250,000 soon after the May 2020 ‘halving’ event. As astounding as that sounds, Draper’s projections are in line with bitcoin’s historical trend. Draper correctly predicted the ‘crypto winter’ bear market of 2018-2019 in September 2018. He’s made over $200M from BTC so far.…
Amazon founder Jeff Bezos had an awful week, at least for a billionaire. First, he lost his title as the world’s richest person to Bill Gates. As if that wasn’t enough, Microsoft – the company that made Gates the world’s wealthiest man – beat out Amazon for a mammoth government contract. It’s been a tough…
The fall of the Bitcoin price to June lows on Wednesday may just be a harbinger of more pain to come for cryptocurrency enthusiasts and hodlers. According to the CEO of crypto merchant bank Galaxy Digital Mike Novogratz, Bitcoin could drop to below $6,500, a level last recorded in May. Bitcoin price in sideways movement…
The financial hit that billionaire money manager Ken Fisher is taking after making sexist remarks at an industry event is growing by leaps and bounds. Currently, Fisher Investments is on track to lose over $1.5 billion in client investments. Already, three clients have already divested amounts totaling nearly $1 billion. This includes the state of…
In what may be a very bullish sign for the stock market, multi-billionaire Warren Buffett is preparing to dip into his historic $122 billion cash pile. In a filing to the US Federal Reserve, Buffett’s Berkshire Hathaway signaled it would like to increase its holdings of Bank Of America, (NYSE: BAC) as the Oracle of…
The U.S. stock market is near record highs, and the labor market has been growing steadily, courtesy of stable economic readings throughout 2019. However, the good times can’t last forever, and billionaire investor Howard Marks at Oaktree Capital warns that a recession will eventually arrive. The question is: When? Speaking in a CNBC interview, Marks…
