When money and connections mean you can invest in just about anything, anywhere and over any time frame, what winds up in your portfolio? Yes, the rich are buffeted by the same forces affecting everyone else: Rising rates, trade wars and global populism. But in the rarefied world of ultra-high-net-worth investors, diversification doesn't mean index funds or assembling a standard stock/bond/cash mix. With prospects for equities uncertain, Bloomberg canvassed wealthy investors and advisers to find unusual opportunities in 2019 open to those with big fortunes and a taste for the exotic. Following is a sampling of the possibilities.Art Finance "The hedge funder's new Ferrari" is not Italian, fast or even a car, according to financier-turned-art dealer Asher Edelman. It's a high-octane financial maneuver tied to the sale of artwork that's part insurance policy, part betting slip.Offering a guaranteed minimum price to those putting fine art on the block has become standard at top auction … [Read more...] about Psychedelics, Ferraris and art: An alternative investment guide
Refinance as investment property
By Jacky Wong The Wall Street Journal Fri., Dec. 14, 2018 Bigger is better, at least for Chinese property developers. That isn’t exactly a surprise, but a notice from the country’s economic policy planner posted Wednesday has reaffirmed this view. The National Development and Reform Commission said it would support “high quality” private companies to tap the enterprise bond market, a type of corporate bond typically issued by state-owned entities. While the notice isn’t focused on a single industry, the inclusion of the real-estate sector among those encouraged to issue more bonds has sparked hopes that more easing is coming for the already highly indebted developers. Property and construction stocks rallied Thursday before giving up some of those gains Friday. But what is considered “high quality”? Big, it seems. Developers must have more than 160 billion yuan ($23.2 billion U.S.) of assets with revenue higher than 30 billion … [Read more...] about Beijing’s answer to property sector debt is to keep on borrowing
By Brittany De Lea Published December 13, 2018 U.S. Economy FOXBusiness Facebook Twitter Comments Print video US new home sales tumble in October Tri Pointe Group CEO Doug Bauer discusses how new home sales have tumbled in October and the Federal Reserve’s interest rate hikes. While the housing market was a centerpiece of the 2008 financial crisis, its stagnant recovery could actually save it from a downturn in another potential recession. Continue Reading Below “Because of the fact that it has been underperforming during the economic recovery, there is less room to go down,” Lawrence Yun, chief economist at the National Association of Realtors, told FOX Business. “I think the housing market would not see any big negative hit if there was an economic recession.” Yun said in the event of a recession, interest rates are likely to decline, while the Federal Reserve could halt rate increases and even cut some … [Read more...] about Housing: The new recession-proof investment?
By Jacky Wong The Wall Street Journal Mon., Nov. 19, 2018 Chinese offshore junk bonds have been in free fall lately. The country’s property developers, their largest issuers, are at the heart of the problem. The big jump in dollar-denominated Chinese bond yields was sparked after China Evergrande, the country’s biggest developer, issued $1.8 billion (U.S.) of new bonds late last month with eye-watering coupons of up to 13.75%—much higher than it has had to pay previously for debt of similar maturities. Several other Chinese developers have since issued dollar bonds with coupons at around 10% or higher, including Agile Group and KWG Group. Evergrande said Monday it would issue more two-year bonds on the same terms, although it didn’t specify how much. While the recent jump in dollar debt yields has been dramatic, they have been on an upward trend all year, partly in response to rising U.S. interest rates. Developers, though, face little choice … [Read more...] about Chinese property bonds are now a big bet on Beijing
Up to 41 jobs are at risk across Reach’s regional editorial teams, most of them in print production, Press Gazette has learned. The publisher (formerly Trinity Mirror) said its regional newsrooms were facing the potential cuts as it rolls out a “common production model” aimed at refining workflows.TimelineNovember 6, 2018Reach editor-in-chief says BBC News website an 'all-consuming monster' that's not in 'spirit' of charter obligationsOctober 18, 2018Archant content boss Matt Kelly says it's 'nigh-on impossible' to get readers to pay for local news onlineOctober 16, 2018Ex-Sunday Express football writer turns down ‘derisory’ cash offer over sacking for column criticising Liverpool FC fans Consultations with staff whose jobs may be at risk are underway.A Reach spokesperson said: “Our investment in rolling out a common system allows us to introduce a common production model across Regionals editorial.“This means regional teams will now work more … [Read more...] about Up to 41 production jobs at risk on Reach regional titles as ‘common production model’ put in place