Unfamiliar with Winkelmann s name? You might recognize his artist name, Beeple.
Beeple is generating Banksy-level hype in the digital art world; making headlines for the eye-watering sums of money his digital artwork is selling for.
Two weeks ago, Pablo Rodriguez-Fraile, who originally bought one of Beeple s artwork for $67,000 resold the piece for $6.6 million on the cryptocurrency art marketplace, Nifty Gateway, ahead of auction house Christie s, which made its first-ever sale of digital art - a collage of 5,000 everyday pictures, also by Beeple.
The auction closed on March 11 with a winning bid of $69 million. The price jumped from $15 million to $69 million in under an hour.
For now, though, the coast seems to be clear for stocks, according to Jordan Kahn, the chief investment officer at ACM Funds and comanager of the ACM Dynamic Opportunity Fund, which takes a long-short approach that s somewhat in the fashion of a hedge fund.
In addition to the gargantuan stimulus package that will be supportive of consumer spending, equity investors can rely on the fact that the global recovery is still in its early stages, interest rates remain low, and the Federal Reserve is committed to quantitative easing, Kahn told Insider on Wednesday.
He said he thought it would take several rate hikes from the Federal Reserve before stocks were hurt. As of now, it appears that the Fed will keep the federal funds rate near zero at least into 2022, if not longer.
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Growth stocks struggled to stage a comeback amid the broad market rebound this week.
And elevated market volatility is driving demand for single-stock ideas, according to UBS.
The bank shares 13 most compelling counter-consensus stocks and why they are set to outperform.
As investors continued to rotate out of high-growth tech stocks and into once out-of-favor value stocks, contrarian stock pickers who saw it coming are the ones being rewarded handsomely for bucking the trend.
After months of bubble warnings in the market, many high-flying stocks have fallen back to earth. Electric-vehicle maker Tesla has plunged almost 14% in the past month despite having rallied 9.4% over the past week as of Thursday morning.
An inflationary environment is a key theme investors can t ignore, says Morgan Stanley analysts.
In a research note, analysts highlight inflation indicators are pointing to further increases ahead.
We list 10 high pricing power stocks set to benefit in this environment, according to Morgan Stanley.
Morgan Stanley s global inflation surprise index recently turned positive for the first time in two years.
The 10-year treasury yield has risen this week to 1.615%, its highest in over a year, as investors demand higher returns for bonds, as the prospect of a strengthening economy has, in turn, fueled expectations that growth and inflation will pick up more sharply.
For some SPAC investors, it s a welcome change.
Julian Klymochko, who runs the active SPAC-focused Accelerate Arbitrage Fund (ARB), said he was very happy to see the correction.
The Canadian investor employs what he calls a simple but not easy SPAC arbitrage strategy, which distills down to buying a SPAC at or below its net asset value (or trust value) and capitalizing on the option of redeeming shares in two years or less.
The strategy fared well amid the SPAC boom last year and was up about 30%, Klymochko told Insider.
This year, despite a record 228 SPACs having raised $73.2 billion as of March 8, Klymochko was left starving for opportunities.