Risk-tolerance surveys often miss what financial advisers really need to know about you

In the early days of financial planning, advisers would assess a client’s attitude about risk. It was largely a subjective judgment. Nevertheless, their conclusion (or hunch) would guide their portfolio management decisions on behalf of that client. In addition to probing to determine a client’s tolerance for risk, advisers might consider one’s age, gender and … Read more

Why NFTs saw $941 million in trading volume in January – the highest since June 2022

Non-fungible tokens registered $941 million in trading volume in January 2023, up 38% from December, and the highest on record since June 2022, according to a Feb. 2 report by DappRadar, which tracks and analyzes the activity of NFT marketplaces. Non-fungible tokens, which provide proof of ownership of a digital asset like online artwork, surged … Read more

Bridgewater’s Karen Karniol-Tambour promoted to co-CIO, continuing her rise as one of the most powerful women on Wall Street

Trading and investment firm Bridgewater Associates on Thursday promoted Karen Karniol-Tambour to co-chief investment officer as she continues her rise as one of the most powerful women on Wall Street. Hailed by the firm’s co-CEO Nir Bar Dea as “one of our most important leaders at the forefront of a new generation,” Karniol-Tambour, 37, joins … Read more

Cash is no longer trash, says Dalio, who calls it more attractive than stocks and bonds

“‘Cash used to be trashy. Cash is pretty attractive now. It’s attractive in relation to bonds. It’s actually attractive in relation to stocks.’” Bridgewater Associates founder Ray Dalio no longer thinks “cash is trash.” In fact, just the opposite. Over the past year, cash has become “pretty attractive” relative to both stocks and bonds, the … Read more

Former FTX CEO Sam Bankman-Fried is restricted from using encrypted messaging apps

A New York judge has imposed communication limits on former FTX chief executive Sam Bankman-Fried, according to a court filing on Feb. 1. The filing includes two restrictions. Bankman-Fried can’t communicate with any previous or current employees at FTX or Alameda, other than his immediate family members, except in the presence of a legal counsel. … Read more

Baidu shares jump after BlackRock boosts stake

Shares of Baidu Inc. advanced in Hong Kong, following a surge overnight in U.S.-listed ADRs on news that BlackRock Inc. raised its stake in the Chinese internet-search giant. Shares 9888, +6.51% rose as much as 7.9% Thursday in the Asian financial hub, hours after the company’s ADRs BIDU, +13.05% closed 13% higher at US$152.25 in … Read more

Pinterest reportedly lays off about 150 workers

Pinterest Inc. reportedly laid off about 150 workers Wednesday, becoming the latest tech company to cut jobs amid economic worries. Bloomberg News reported the cuts affect less than 5% of Pinterest’s workforce, and came across multiple teams. “We’re making organizational changes to further set us up to deliver against our company priorities and our long-term … Read more

Comcast sells nearly 6 million shares of its Buzzfeed stake amid sharp rally

Comcast Corp. has sold part of its stake in Buzzfeed Inc., which has seen its shares surge in recent days amid enthusiasm for the publisher’s artificial-intelligence efforts. Comcast CMCSA, +1.58% disclosed Wednesday in a filing with the Securities and Exchange Commission that it sold 5,726,385 shares of Buzzfeed BZFD, -5.22% in the open market between … Read more

DC Townhouse Linked to Fallen FTX Founder Sam Bankman-Fried Is Listed for $3.3M

What a difference a few months makes. Since the implosion and bankruptcy filing of the cryptocurrency exchange FTX in November, its founder Sam Bankman-Fried has experienced some dramatic life changes—as have those closest to him. A prime example? The listing of a townhouse in Washington, DC, that was purchased in April 2022 by Guardians Against … Read more

Cathie Wood says inflation is unwinding and will surprise on the low side of expectations

“‘The bond market is basically saying the Fed is close to the end of this tightening move, and is also saying that inflation will surprise on the low side of expectations.’” Money manager Cathie Wood, the founder and chief executive officer of Ark Investment Management, said U.S. inflation is unwinding after surging to a 40-year … Read more