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Months away and we are going to catch up with one athlete and his amazing comeback story. A busy day in washington, the Federal Reserve beginning its twoday meeting. The senate is voting to pass the budget agreement passed by the house last week. But does this deal actually accomplish anything . If you go by the fundamentals, the things that needed to be dealt with were the tax code, fundamental tax reform is imperative for our international comparative. We need to mature doesnt lead a to make sure it doesnt bleed a lot of red ink and is an economic threat to the future. And what were the two things not in the deal . Taxes and fundamental entitlements. We are moving around the edges. What is the risk if this does not tackle the hard issues . Go from one crisis to another. Were going to end up running out the clock. It will start all over again. It will take time to get a few things right. Enough, but at least the budget removes s ....
How Angel Investors and venture capitalists may exit in the new year. First up, a focus on hedge funds. The s p 500 year to date have aances happening shift from stocks. One of the biggest beneficiaries of money money moving from bonds to venture driven funds that have wall stocks in them, right . Institutional managers think that the bond rally that we have seen is coming to an end, so they are reallocating potentially more money to event driven strategies like polson. The numbers really tell the story here. If you look at the first nine months of the year, equity and event driven strategies gained about what a billion dollars in in that was a school where its relative file you funds in about 21 billion. That is a really big conference from 2002 when you saw a huge amount of money going in, and and a loss about money coming out of the equity funds to the tune of 70 billion. That point to a real turnaround here in the way that in ....
Good to have you here. Good to be here. Not so unusual on the first trading day of the year that you would have a reversal of some of the trends you saw last year. Overall stocks were up and now they are down. Individual stocks did very poorly last you and are up today. That is right. Tried to play the counter trade. Time for a big picture. To tell you what is happening right now, we will start with the s p 500. Down about one percent. We were up six percent in 2013. No one wanted to sell them. Today, fine. We put a little bit of the profitability in our park it pocket. This is a surprise. Right now, the yield is 298, about twoyearm high. That is in spite of that her data. Manufacturing, construction, and jobs, all better. It may be the same sort of thing. You take ons down enough and people will buy them. That in turn pushes the yield down. You take hold down far enough and eventually people will buy it. It had the worst year in 12 years. Today, people are buying it. Everything is run ....