Mark Calabria (R), Director of the Federal Housing Finance Agency, testifies before the Senate Banking, Housing and Urban Affairs Committee June 9, 2020 in Washington, DC. - Carson and Mark Calabria, Director of the Federal Housing Finance Agency, testified before the committee on the topic of federal housing regulations. (Photo by Win McNamee / POOL / AFP) (Photo by WIN MCNAMEE/POOL/AFP via Getty Images) WIN MCNAMEE/POOL/AFP via Getty Images
You better not pout. Fannie Mae had some not great news for employees planning to take time off for the holidays: keep your phones on. Sean Czarnecki, Alex Morrell, and Rebecca Ungarino with a nice story about the knock-on effects of Fannie Mae pushing to get out of government conservatorship before President Donald Trump leaves office. Read more here.
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Top IPO lawyers share 2021 predictions - Fannie Mae tells staff to be on call for holidays - More regional-bank dealmaking
Top IPO lawyers share 2021 predictions - Fannie Mae tells staff to be on call for holidays - More regional-bank dealmaking
Dan DeFrancescoDec 15, 2020, 17:29 IST
Getty Images/Spencer Platt
Hiya.
No big-time IPO pops today. How disappointing.
But the fun hasn t entirely stopped, as FIG deals roll on. Huntington Bancshares has agreed to merge with TCF Financial, as was first reported by The Wall Street Journal.
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Airbnb Founders CTO Nathan Blecharczyk, Chief Product Officer Joe Gebbia and CEO Brian Chesky speak onstage during the Introducing Trips Reveal at Airbnb Open LA on November 17, 2016 in Los Angeles, California. Mike Windle/Getty Images
Alex Morrell with some nice analysis on why the IPO market is hotter than ever. Alex breaks down all the factors leading to what has been a whirlwind few months in the public markets. Read more here. Betterment
Betterment founder and CEO Jon Stein stepped down this week. Rebecca Ungarino and I looked into the challenges and opportunities the fintech faces as it looks to continue to grow. Read more here.
Why the IPO market is so hot - Wall Street relocates to Florida - What s next for Betterment
Why the IPO market is so hot - Wall Street relocates to Florida - What s next for Betterment
Dan DeFrancescoDec 14, 2020, 17:25 IST
Spencer Platt/Getty
Welcome back.
It s the last full week of the year, so it ll be interesting to see how much gets done before the markets slow down during the holidays.
One thing is for sure, the red-hot streak IPOs have been on should cool down a bit. The Wall Street Journal reported Saturday that Affirm was postponing its IPO, following in the steps of Roblox.
From Alex Morrell and Bradley Saacks:
Last spring, Coatue Management, a $25 billion hedge-fund giant, did something unusual: It made an appearance.
In the 20 years since its founding, the secretive, tech-focused investment manager has had a stellar track record under the billionaire Philippe Laffont. But the tiger cub usually demurred when it came to discussing business publicly.
In May 2019, though, two Coatue execs spoke for nearly 45 minutes to a crowd of data-science wonks at Domino Data Lab s Rev conference.
What compelled Coatue to pull back the curtain?
The firm had announced in an investor letter a few months earlier that it was raising several hundred million dollars to launch its first quant fund, an outgrowth of a data-science group that had been expanding under Izydorczyk. The firm boldly predicted that its team of 30 scientists and engineers would eventually reach 100.