PBHFA's SEPTEMBER 2022 MISSIVE |
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Miami's Seven Seven Six Launches $177 Million Crypto Token Fund
A digital assets-focused venture capital firm led by Reddit’s co-founder is reportedly planning on raising $177 million for a new fund that will likely invest in early-stage Web3 startups, plus related cryptocurrencies.
Seven Seven Six (776), run by Alexis Ohanian, started fundraising relatively recently, according to The Information.
Following the likes of Sequoia and Bessemer Venture Partners, 776 has registered as an investment adviser with the SEC. The new fund, Kryptós, plans to commence operations in October.
The latest fund charges investors a 2.5% management fee — above the industry average of 2% or so.
The venture capital firm currently has 56 portfolio companies, including Yuga Labs — the creators behind the exclusive non-fungible token (NFT) collection Bored Ape Yacht Club and QuickNode, blockchain API and node infrastructure startup. It currently has $904 million of gross assets, according to regulatory filings.....
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Several webinar & live deal making social dates remain open for sponsorship this season.
Partnership Inquiries Contact::
email by clicking above or call anytime!
561.349.7300
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Ever Wonder What It Is Like To Work For Citadel?
Day in the life, Pam Chang, analyst, Citadel Global Equities
6.30am CT. I wake up and check my phone to go through the news and see what happened overnight in the markets and with the stocks I cover. I also have a quick look at Bloomberg chats and sell-side research to see if I have any communications from my colleagues in our global offices, or whether any new viewpoints on my stocks have emerged while I was sleeping.
7.30am. I’m usually in the office. I live downtown and am about a 15-minute subway ride away. When I arrive, I continue running through any new information on the companies I cover. I’m looking for things like corporate announcements or news of mergers and acquisitions. This can be the best and worst time of my work day – best because you never know what the market will throw at you, and it can be very exciting to interpret implications from news of the day or macro themes. I say it’s the worst because sometimes you have to rip up your daily schedule and reprioritize depending on what’s taking place.
As a small and mid-cap financials analyst who mostly covers banks in the US and Canada, I am deep in the weeds in roughly 40 different stocks and provide back-up coverage on another 20. I have quite a sizable number of shares to follow, but after five years I know the stocks in my universe very well.
7.45am. We have our morning meeting with the whole financials team. The financials trader will give us some color on how the stocks are trading, and on some days of the week our macroeconomist attends too and give us some extra color on the broader economic situation....
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The Investing Paradigm Has Changed: Here Is The Macro View
Ten years ago, commodity prices were extremely high, and companies were investing enormous sums of money to increase the production of those commodities. As they say in the commodity markets, the cure for high prices is high prices. New supply flooded the market, and commodity prices declined until they hit rock bottom in March 2020. Since then, commodity prices have begun to rise, but they haven’t risen enough or for long enough for companies to invest in new production. Unless investment and production in commodities grow rapidly, the next ten years will likely represent a decade of rising commodity prices, which will influence consumer demand, corporate profit margins, and interest rates.
Inflation has enjoyed a long slumber until 2021, with the average inflation rate generally remaining below 2% per annum for a decade until 2021.
Today, inflation is at a 40-year high, and there are compelling reasons to expect that high rates of inflation are likely to persist. Among those reasons are the deglobalization and increasing commodity price trends discussed above. In a high inflation rate environment, interest rates are likely to rise, and P/E ratios are likely to fall, much like they did in the 1970s, with important implications for the stock market, the bond market, and the real estate market....
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PBHFA Announces A Partnership With East Harbor Financial!
Palm Beach, Florida, Aug 23, 2022
(Newsfile Corp via COMTEX) -- Palm Beach, Florida--(Newsfile Corp. - August 23, 2022) -
The Palm Beach Hedge Fund Association is pleased to announce a strategic partnership with an alternative investment and finance firm, East Harbor Financial.
David Goodboy, Founder PBHFA, remarked, "We are very excited to introduce East Harbor Financial to our close circle of members and investor network. East Harbor fulfills a critical niche in both the alternative investment & finance worlds that provides crucial opportunities for our members."
East Harbor Financial Founder & CEO, Bruno Raschio stated, "I'm excited to surround myself with great minds with whom I can work with to build a better future."
For the past decade, Bruno Raschio has led his family business from a dealership to an asset-backed investment firm with a 19% CAGR, high in the industry.
Starting with his father's business of operating a truck dealership, Bruno quickly decided his skills would be better harnessed in the finance and alternative investments industry.
East Harbor Financial is committed to bringing its unique approach to the luxury and commercial real estate market, aiming for high yields and low risk.
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Larry Ellison Lists His Ocean Front Estate For $145 million
The largest waterfront property in all of Southern Florida is back on the market, owned by none other than tech billionaire and trophy home enthusiast, Larry Ellison.
The Oracle co-founder purchased the North Palm Beach mega-mansion back in April 2021 from hedge-fund manager Gabe Hoffman. Now, Ellison has listed the parcel a little over a year later for a whopping $145 million. For context, the hefty price tag is close to double what he originally paid, reported the Wall Street Journal. The prized estate, located in the ultra-exclusive gated community of Seminole Landing, is considered the third largest oceanfront property in all of Palm Beach County.... Read the rest in the Robb Report here
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JV scores $87M construction loan for West Palm Beach office projects
Partnership between Brand Atlantic and Wheelock Capital acquired two downtown sites last year for $20M
Seven months after unveiling plans to develop a new office building and renovate an existing one in downtown West Palm Beach, a joint venture secured an $87 million construction loan for both projects.
New York-based Acore Capital provided the financing to Brand Atlantic Real Estate Partners and Wheelock Street Capital, according to records. The funds will go toward the development of a 12-story office tower at 300 Banyan Boulevard and a gut renovation of a historic building at 111....
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Do Good With PBHFA's Gear For Good!
After receiving multiple requests for PBHFA.org gear, we decided to offer a selection of merchandise.
PBHFA’s Gear For Good includes a limited selection of hats, sweatshirts, polos, & t-shirts as the initial offerings for our members and supporters. The selection will be updated and changed every few months to keep things fresh.
We are open to your suggestions as to the style of gear you want us to carry!
We decided to make this a worthwhile endeavor by donating 100% of the profits to a carefully curated selection of Palm Beach & South Florida charities.
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Check Out Our Webinar Series Below!
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