"Hedge fund portfolio density rose to record levels in March, exceeding even the Financial Crisis highs. Hedge fund returns continue to grow more dependent on the performance of a few key stocks. The typical hedge fund has 68% of its long-equity assets invested in its 10 largest positions."
French investigators are raiding Google's (GOOGL.O) Paris headquarters as part of a probe over tax payments, a source close to the finance ministry told Reuters on Tuesday. Investigators have been probing Google's offices in central Paris since 0500 am (0300 GMT), said the source, who declined to be named.
Yesterday's weak dollar headfake has ended and overnight the USD rallied, while Asian stocks dropped to the lowest level in 7 weeks and crude oil fell as speculation returned that the Federal Reserve will raise interest rates as early as next month. The pound jumped and European stocks gained thanks to a weaker EUR.
"Everyday we read headlines on what the central banks are doing. But their policies don’t have any effect. They are just like treading water. All the central banks are doing is substituting one form of debt with another form of debt... I think it means the business of central banks is like pornography: It’s not the real thing."
The United Nations Security Council wants a global “framework” for censoring the Internet, as well as for using government propaganda to “counter” what its apparatchiks call “online propaganda,” “hateful ideologies,” and “digital terrorism.” To that end, the UN Security Council this week ordered the UN “Counter-Terrorism Committee” — yes, that is a real bureaucracy — to draw up a plan by next year. From the Obama administration to the brutal Communist Chinese regime, everybody agreed that it was time for a UN-led crackdown on freedom of speech and thought online — all under the guise of fighting the transparently bogus terror war.
Just as we cautioned those who saw the best cities for jobs data, we again warn everyone who reviews the highest paying companies data that now may not be the best time to pick up and head out to the West Coast in hopes of landing that dream tech job.
Less than a month after a still unexplained suicide took place inside a conference room at Apple headquarters, there seems to be more trouble in Silicon Paradise. According to CBS, an incendiary device ignited a fire late Thursday night at the offices of digital giant Google, damaging a Google Earth demo car and leaving a large singe mark on one of the buildings, authorities said.
Not long ago we pointed out that the second tech bubble had officially burst, and the extent of the layoffs is increasingly significant. It's taken a few months, but the economic slowdown and downshift in the once bustling Silicon Valley jobs front has now worked its way into the real estate market... "The seemingly inexhaustible well of very high-end buyers has proven exhaustible after all. The peak is behind us, and that's becoming clearer and clearer to builders and buyers"
Movement in the autonomous vehicle space accelerated once again. Four ex-Google engineers, including the man who built Google’s first self-driving car, announced “Otto”, an autonomous truck retrofitting business. The service isn’t vaporware. “Otto” is currently operating on Nevada highways.
Data suggests that oil producers need prices in the $70-80 range to survive. That is unlikely in the next year or so. Without more timely price relief, the future looks grim for an industry on life support.