The Business Times

Marc Rubinstein

MARC RUBINSTEIN IS A FORMER HEDGE FUND MANAGER. HE IS AUTHOR OF THE WEEKLY FINANCE NEWSLETTER NET INTEREST. @MARCRUBY

After the market decline of December 2018 (remember that?), the Covid crash of 2020, and the inflation scare of 2022, markets consistently rewarded those willing to deploy capital during periods of stress.

Buying the dip still works – even in this new world

The power of individual investors on display

Berkshire Hathaway chairman and CEO Warren Buffett attends the Berkshire Hathaway Inc annual shareholders' meeting in Omaha, Nebraska, US, May 3, 2024.

Is Warren Buffett’s true successor Bill Ackman?  

The 94-year-old oracle of Omaha is still going strong, but says ‘it won’t be long’ before someone picks up his mantle

FILE PHOTO: The deepSeek logo, a keyboard, and robot hands are seen in this illustration taken January 27, 2025. REUTERS/Dado Ruvic/Illustration/File Photo

DeepSeek is just the latest hedge fund innovation

HEDGE funds have long gotten bad press. Criticised for short selling, corporate agitation or destructive greed, their contribution to economic activity isn’t...

As the US Fed raises interest rates, more of the increase gets shared with customers.
THE BOTTOM LINE

Banks’ new world: Depositors get a bigger share of rate rises

Institutions are paying more to hang on to savers’ cash

What the post-mortem reports from the Fed and FDIC reveal is, among other things, how haphazardly the failed banks were run, compared with the super-professional show they put on for investors.
THE BOTTOM LINE

You don’t want to know how banks make their sausage

Post-mortems from the Fed and the FDIC on Silicon Valley Bank are clues to how financial institutions really operate

Short-sellers play a role in maintaining efficient capital markets, by augmenting liquidity and helping to detect fraud.
THE BOTTOM LINE

It’s not easy being a stock market villain

With its Adani report, Hindenburg is the latest in a long line of short-sellers to go against the odds

The Blackstone real estate fund limits investor withdrawals to 2 per cent of net asset value in any month and 5 per cent in a calendar quarter; the limits prevented a run from taking hold.
THE BOTTOM LINE

Bank runs just aren’t what they used to be

There’s been plenty of financial blow-ups but not a lot of contagion

The core competence in the lending business is not so much giving the money away but more in getting it back – and that becomes harder in a recession..
THE BOTTOM LINE

BNPL joins the list of subprime losers

A collapse in valuations shows the latest generation of lenders to risky borrowers is no less vulnerable than those who came before.

A HSBC bank branch on King Street, London. The global ambitions of both HSBC and Citigroup have been pared back, replaced by a narrower focus on core markets.

HSBC, Citigroup and the end of global banking

Ping An’s campaign to break up the biggest British lender is the latest reminder that conquering the world is no longer a...

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