Long would it take under reasonable circumstances, to sell the underlining asset . Remember that whether the investor is a Retail Investor or an institutional investor, you dont own the most liquid bit of the fund. You own a socalled vertical slice, or a proportion of all the funds assets. When you redeem in a perfect world, the fund is selling that vertical slice or giving you a price that would be consistent with it having to do that. The first thing is to understand the liquidity. The second is to play with two variables one, the price, the price discount that would be applied if the money is paid out n the timeframea to sell the represented a proportion, and the second factor is to adjust the redemption term upfront to reflect the time it would take to sell. And obviously there are combinations of those two that could be determined. So we have set out these this broad approach, as you have seen described in the report, and jointly with the fca we are going to consult and examine th
Have ever seen tweet us your thoughts welcome to power lunch. Im melissa lee. Wall street carving out some nice gains the dow and wall street pushing to highs s p, zi oons and jpmorgan author industry, the recreational vehicle ceo speaks with jim cramer tonight on mad money. Check out unilever it is going higher no final decision has been made yet. Emerson electric up more than 2. 5 the company withdrawing its 225 per share offer to buy Rockwell Automation rockwell, also higher. Thank you very much welcome. Im Tyler Mathisen here is what else is happening at this hour i get the what else . Otherwise known as the thanksgiving leftovers home prices gaining momentum, rising more than 6 year over year that is the fastest annual rate since 2014 seattle reporting the biggest jump home prices there soaring 13 from a year ago. Potential new problems from wells fargo. Foreign exchange bankers at the company were overcharging clients and albertsons striking a deal with instacart. Michelle we beg
Im wilfred frost. Im Morgan Brennan in for sara eisen good morning. Lets get straight to the market picture. Resounding performance yesterday. The dow and s p up 1 . The nasdaq up by a half percent. Banks really soaring, sort of perfect storm for them yesterday. The new fed chair talking about raising interest rates, also talking about not increasing bank regulation, reforming the volcker rule and progress on tax reform banks disproportionately pay full tax rates, thats why the russell soared 1. 5 . Transports, too transports as well. Good day across the board for risk assets. Its good for the dow, good for the s p, up 48 points or so on the dow. The nasdaq is just south of the flat line, down 6 points bitcoin surging to a new record high, above 10,000 over night it surged as much as 4. 4 earlier, now 8 . So its 10,700 in asian trading hours. Its capped more than ten fold increase now this calendar year. Extraordinary run continuing up 9 10678 9 , 10,700 almost 11,000. I wonder how muc
Uber losses widened in the third quarter. Almost 1. 5lost billion. As reported tuesday night as part of a formal bid from a stock a group looking to buy a large portion of stock. Theres a 30 discount to its last private valuation, coming in at 69 billion. We spoke to someone intimately familiar with this, lane castleman, the former head of over in the americas, and eric newcomer. Opening salvo from softbank. 33 a share translates into this valuation and they will see if they can get enough people to meet the outstanding shares they want to acquire. What is the likelihood of them acquiring that . This is the debate we will have an there is an appetite for liquidity. People want to sell and do not want to miss out. Some people know that the price could go up. You have shares to sell. What are employees talking about . There is not a lot of information out. All we know is what we are reading in the press and there is not a lot of communication with former employees. I am wondering if i ca
Alleging Sexual Harassment by congressman john conyers says her client is expected to testify next week before the house ethics committee. House democrats have called on the 88yearold conyers to step down. s Attorney Says he will decide whether to resign within days. In a meeting with libyas prime minister, Rex Tillerson dismiss reports the white house plans to have him removed. Is laughable. Official said the plan is to replace him with cia director mike pompeo. Global news 24 hours a day powered by our 2400 journalists in more than 150 news bureaus around the world. This is bloomberg. Emily i am emily chang and this is bloomberg technology. Coming up, bitcoins have to the mainstream. U. S. Regulators have cleared the way to allow future specs on the feature exchange operators. We will discuss legitimacy of cryptocurrency. Plus, taking stock of uber. But will put the companys financials under the microscope after it burns through more than 1 billion in the last quarter. Hister stands