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George Soros Prepares to Trade Cryptocurrencies

The family office is said to have recently approved trading Soros called the digital assets a ‘bubble’ in January George Soros called cryptocurrencies a bubble in January. Now his $26 billion family office is planning to trade digital assets. Adam Fisher, who oversees macro investing at New York-based Soros Fund Management, got internal approval to trade virtual coins in the last few months, though he has yet to make a wager, according to people familiar with the matter. A spokesman declined to comment. Soros, Read more: Crypto Hedge-Fund Bubble Begins…

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Bitcoin Newbies Are Getting Crushed While Old Timers Bemoan `Weak Hands

For Bitcoin investors, these are the times that try one’s soul. After surging to almost $20,000 in December following the introduction of regulated futures contracts in the U.S., the world’s largest cryptocurrency has lost more than half its value, plummeting to as low as $7,614 on Friday. It regained some ground on Saturday, rising 7.5 percent to $9,290.15 as of 2:58 p.m. in New York, according to Jamie Dimon to Nouriel Roubini have labeled as one of the biggest asset bubbles in history began showing signs of deflating. Selling by…

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Bitcoin Could End Up Using More Power Than Electric Cars

The global power needed to create cryptocurrencies this year could rival the entire electricity consumption of Argentina and be a growth driver for renewable energy producers from the U.S. to China. Miners of bitcoin and other cryptocurrencies could require up to 140 terawatt-hours of electricity in 2018, about 0.6 percent of the global total, Morgan Stanley analysts led by Nicholas Ashworth wrote in a note Wednesday. That’s more than expected power demand from electric vehicles in 2025. “If cryptocurrencies continue to appreciate we expect global mining power consumption to increase,”…

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From Bitcoin to Belize, Here Are Best and Worst Assets of 2017

It was a great year to hold bitcoin, but a bad time to have been invested in the Uzbek soum. As 2017 winds to a close, a look at the winners and losers around the globe shows that, broadly speaking, the riskiest assets performed well, with bullish sentiment on display in stocks, emerging-market sovereigns and corporate debt. Securities generally seen as the safest and least volatile bets — think Japanese government bonds — trailed behind. There was perhaps no investing idea that attracted more attention in 2017 than cryptocurrencies, from Jamie…

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Worlds Biggest Wealth Fund Wants Out of Oil and Gas

The $1 trillion fund that Norway has amassed pumping oil and gas over the past two decades wants out of petroleum stocks.   Norway, which relies on oil and gas for about a fifth of economic output, would be less vulnerable to declining crude prices without its fund investing in the industry, the central bank said Thursday. The divestment would mark the second major step in scrubbing the world’s biggest wealth fund of climate risk, after it sold most of its coal stocks. “Our perspective here is to spread the risks for the…

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RenTechs Robert Mercer to Exit as Co-CEO, Sell Breitbart Stake

Donald Trump. Peter Brown, 62, will continue as CEO, according to a letter sent to employees at his hedge fund Thursday. Mercer, 71, will also leave Renaissance’s board and remain at the company as a member of the technical staff, focusing on research. Mercer and Brown took the co-CEO posts in 2010 after the company’s founder Read More: Read Mercer’s Letter to His Staff at Renaissance personal political projects dragged the notoriously secretive firm into the national spotlight. Mercer and his daughter, Rebekah, are prominent Republican donors and patrons of Stephen…

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The Future Price of Investing: Zilch

Could fees for investing ever fall all the way to zero? For investors in bring customers in the door, razor-thin costs are where the asset growth is. Of the $738 billion that investors put into index funds and ETFs in the past 12 months, $509 billion went to funds costing 0.1 percent or less, according to data compiled by Bloomberg. “Investors are really cost-obsessed, so these asset managers are betting if they lower the fees, they’ll make a little money because they’ll get all the assets,” says Balchunas. For individual…

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Singapore Will Stop Increasing Car Numbers From February 2018

Singapore, among the world’s most expensive places to own a vehicle, will stop increasing the total number of cars on its roads next year. The government will cut the annual growth rate for cars and motorcycles to zero from 0.25 percent starting in February, the transport regulator said on Monday. “In view of land constraints and competing needs, there is limited scope for further expansion of the road network," the Land Transport Authority said in a statement on its

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‘I’m Going to Die’: Fear Grips Vegas Strip; Gunman Kills 59

Las Vegas (AP) — The rapid-fire popping sounded like firecrackers at first, and many in the crowd of 22,000 country music fans didn't understand what was happening when the band stopped playing and singer Jason Aldean hustled off stage. "That's gunshots," a man could be heard saying emphatically on a cellphone video in the nearly half-minute of silence and confusion that followed. A woman pleaded with others: "Get down! Get down! Stay down!" Then the pop-pop-pop noise resumed. And pure terror set in. "People start screaming and yelling and we…

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