Feb 07, 2024

I heard that choosing the right location for retirement is crucial, as some states offer a more comfortable and affordable lifestyle for retirees. Financial executive Salene Hitchcock-Gear has shared four tips for improving financial wellness in the new year, including better budgeting and planning for the future.

It has also been noted that the annual trend of “Dry January” can impact recreational cannabis sales, potentially changing factors for investors. Financial adviser Peter Klein suggests that maintaining a certain percentage of a portfolio in commodities can increase diversification and reduce overall portfolio risk.

Recent developments regarding the failed crypto exchange FTX suggest that customers and unsecured creditors may be repaid in full. Additionally, former WeWork CEO Adam Neumann has expressed interest in buying back the bankrupt coworking company.

There have been significant fundraising and acquisition activities in the financial sector, including investments in AI startups, healthcare companies, and industrial tech firms. Runway, a generative AI startup, is raising its own VC fund, and Trinity Hunt Partners has raised $700 million for its seventh fund. Additionally, Yandex has agreed to sell its Russian assets for $5.2 billion, marking the largest corporate exit from the country since Moscow’s invasion of Ukraine almost two years ago.

I also learned about the impact of Bitcoin on company accounting, with companies with Bitcoin holdings likely to see big one-time gains due to a new accounting rule. The US Securities and Exchange Commission has taken enforcement action against the founder of the American Bitcoin Academy for allegedly defrauding students of $1.2 million in a fraudulent scheme.

In other news, Vanguard has embraced AI in $13 billion of quant stock funds, and the former Credit Suisse chief’s Spac is being sued by a Chinese partner. Saudi Arabia has tapped a former Dell executive to run a $100 billion firm, and there are ongoing discussions between Xi and regulators about China stocks. Lastly, details have emerged about a $670 million debtor-in-possession loan facility and the potential involvement of Third Point in a deal with WeWork’s former CEO Adam Neumann.

Stay Well!