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2021-04-21
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Hedge fund giants bet $1 billion, SPAC bubble thunderstorm imminent?
Li_Zonghao
2021-04-14
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Li_Zonghao
2021-04-14
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08:42","market":"us","language":"zh","title":"Hedge fund giants bet $1 billion, SPAC bubble thunderstorm imminent?","url":"https://stock-news.laohu8.com/highlight/detail?id=2129981826","media":"金十数据","summary":"帮助公司“曲线上市”的壳股SPAC似乎将成为下一场“多空大战”的主战场。","content":"<p>Co-founder of Marshall Wace, a hedge fund in charge of $55 billion in assets, in the UK<a href=\"https://laohu8.com/S/JRJC\">The financial world</a>Paul Marshall, the big name that no one knows, warned about the SPAC bubble on Tuesday. He said:</p><p>\"The SPAC phenomenon will end badly, and a lot of people will suffer.\" According to foreign media reports,<b>Paul Marshall's flagship fund, Eureka, has structured long-short bets worth more than $1 billion in total against the Blank Check Company.</b></p><p>He said in a letter to investors that the returns brought by SPAC companies are terrible, and so will recent offerings. He said the structure of the SPAC may even be encouraging \"trouble.\"</p><p>Marshall has lost money on betting on SPACs before, but he believes the current SPAC frenzy has swept through retail investors, creating opportunities to make money. He concluded that his company holds or has always held long positions in almost all SPACs, but now it is also shorting.</p><p>A London spokesman for Marshall Wace declined to comment.</p><p>Statistics from financial data analysis company S3 Partners also show that since last year,<b>Short positions in SPACs jumped by more than 300%.</b></p><p><img src=\"https://static.tigerbbs.com/6ee12d549b3bd530b13e3711dba125eb\" tg-width=\"820\" tg-height=\"649\" referrerpolicy=\"no-referrer\">The number of SPAC IPOs launched in 2020 has increased by at least 400% over the previous year, and the total funding amount has soared by more than 600%, according to the data. So far this year, there have been more than 300 SPAC IPOs, with a total financing amount of more than US $100 billion.</p><p>Many economists, academics and investment managers have expressed concern about this, believing that it is a sign of \"irrational exuberance\" usually before the market bubble bursts.</p><p>Ivana Naumovska, a professor at the European School of Business Administration (INSEAD), pointed out that SPACs are a bubble that bursts with the influx of low-quality players, coupled with poor public relations practices and increased oversight by the SEC, which will eventually be over-inflated and quickly bring down the entire industry.</p><p>The U.S. Securities and Exchange Commission (SEC) has said that SPACs have incorrectly accounted for warrants sold or given to investors, suggesting<b>Regulators are gradually increasing scrutiny of the popular listed vehicle</b>。 Industry insiders also said that the lack of high-quality trading targets in the market and the exhaustion of SPAC funding sources have made this frenzied investment inflection point loom.</p>","source":"xnew_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hedge fund giants bet $1 billion, SPAC bubble thunderstorm imminent?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHedge fund giants bet $1 billion, SPAC bubble thunderstorm imminent?\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">金十数据</strong><span class=\"h-time small\">2021-04-21 08:42</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Co-founder of Marshall Wace, a hedge fund in charge of $55 billion in assets, in the UK<a href=\"https://laohu8.com/S/JRJC\">The financial world</a>Paul Marshall, the big name that no one knows, warned about the SPAC bubble on Tuesday. He said:</p><p>\"The SPAC phenomenon will end badly, and a lot of people will suffer.\" According to foreign media reports,<b>Paul Marshall's flagship fund, Eureka, has structured long-short bets worth more than $1 billion in total against the Blank Check Company.</b></p><p>He said in a letter to investors that the returns brought by SPAC companies are terrible, and so will recent offerings. He said the structure of the SPAC may even be encouraging \"trouble.\"</p><p>Marshall has lost money on betting on SPACs before, but he believes the current SPAC frenzy has swept through retail investors, creating opportunities to make money. He concluded that his company holds or has always held long positions in almost all SPACs, but now it is also shorting.</p><p>A London spokesman for Marshall Wace declined to comment.</p><p>Statistics from financial data analysis company S3 Partners also show that since last year,<b>Short positions in SPACs jumped by more than 300%.</b></p><p><img src=\"https://static.tigerbbs.com/6ee12d549b3bd530b13e3711dba125eb\" tg-width=\"820\" tg-height=\"649\" referrerpolicy=\"no-referrer\">The number of SPAC IPOs launched in 2020 has increased by at least 400% over the previous year, and the total funding amount has soared by more than 600%, according to the data. So far this year, there have been more than 300 SPAC IPOs, with a total financing amount of more than US $100 billion.</p><p>Many economists, academics and investment managers have expressed concern about this, believing that it is a sign of \"irrational exuberance\" usually before the market bubble bursts.</p><p>Ivana Naumovska, a professor at the European School of Business Administration (INSEAD), pointed out that SPACs are a bubble that bursts with the influx of low-quality players, coupled with poor public relations practices and increased oversight by the SEC, which will eventually be over-inflated and quickly bring down the entire industry.</p><p>The U.S. Securities and Exchange Commission (SEC) has said that SPACs have incorrectly accounted for warrants sold or given to investors, suggesting<b>Regulators are gradually increasing scrutiny of the popular listed vehicle</b>。 Industry insiders also said that the lack of high-quality trading targets in the market and the exhaustion of SPAC funding sources have made this frenzied investment inflection point loom.</p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://xnews.jin10.com/webapp/details.html?id=73437&type=news\">金十数据</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9ce1bd3c9b83fd6667847c1f65014afc","relate_stocks":{},"source_url":"https://xnews.jin10.com/webapp/details.html?id=73437&type=news","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2129981826","content_text":"掌管550亿美元资产的对冲基金Marshall Wace的共同创始人、在英国金融界无人不晓的大腕保罗·马歇尔（Paul Marshall）周二对SPAC泡沫发出警告。他说：\n\n “SPAC现象将以糟糕的结局收场，而且很多人会受害。”\n\n据外媒报道，保罗·马歇尔的旗舰基金Eureka已经对空白支票公司（Blank Check Company）构建了总价值超过10亿美元的多空押注。\n他在致投资者信中表示，SPAC公司带来的回报糟糕，最近发行的也将会一样。他说SPAC的结构甚至可能就是在鼓励“麻烦”。\n马歇尔此前曾因押注SPAC而亏过钱，但他认为目前的SPAC狂热已经席卷了散户投资者，从而带来了赚钱的机会。他总结称，他的公司持有或向来持有着几乎所有SPAC的多头头寸，但现在也同时在做空。\nMarshall Wace的一位伦敦发言人拒绝置评。\n金融数据分析公司S3 Partners的统计也显示，自去年以来，对SPAC的空头仓位跃升了超300%。\n数据显示，2020年启动的SPAC IPO数量比上一年增长了至少400%，总融资额猛增了600%以上。今年至今SPAC IPO已经超过300起，总融资额超过1000亿美元。\n许多经济学家、学者和投资经理对此表示担忧，认为这通常是在市场泡沫破裂之前出现的“非理性繁荣”迹象。\n欧洲工商管理学院（INSEAD）教授Ivana Naumovska指出，SPAC是一个泡沫，随着低质量参与者的涌入而破裂，再加上不良的公关实践和SEC等监督力度加大，最终会因膨胀过度而迅速拉垮整个行业。\n美国证券交易委员会（SEC）已经表示，SPAC对出售或给予投资者的认股权证进行了不正确的核算，这表明监管机构正在逐步增加对这一受欢迎上市工具的审查。业内人士还表示，市场上优质交易标的缺失，SPAC资金来源枯竭，使这场狂热的投资拐点隐现。","news_type":1,"symbols_score_info":{}},"isVote":1,"tweetType":1,"viewCount":730,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":344907084,"gmtCreate":1618364477748,"gmtModify":1704709685885,"author":{"id":"3576556872007568","authorId":"3576556872007568","name":"Li_Zonghao","avatar":"https://static.tigerbbs.com/60d5e3c911a4ebcc4e644df06c1f530b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576556872007568","idStr":"3576556872007568"},"themes":[],"htmlText":"???","listText":"???","text":"???","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/344907084","repostId":"2127049238","repostType":4,"isVote":1,"tweetType":1,"viewCount":986,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":344905528,"gmtCreate":1618364423064,"gmtModify":1704709683617,"author":{"id":"3576556872007568","authorId":"3576556872007568","name":"Li_Zonghao","avatar":"https://static.tigerbbs.com/60d5e3c911a4ebcc4e644df06c1f530b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576556872007568","idStr":"3576556872007568"},"themes":[],"htmlText":"???","listText":"???","text":"???","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/344905528","repostId":"1103358663","repostType":4,"isVote":1,"tweetType":1,"viewCount":1019,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":371446572,"gmtCreate":1618968013796,"gmtModify":1704717612466,"author":{"id":"3576556872007568","authorId":"3576556872007568","name":"Li_Zonghao","avatar":"https://static.tigerbbs.com/60d5e3c911a4ebcc4e644df06c1f530b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576556872007568","idStr":"3576556872007568"},"themes":[],"htmlText":"???","listText":"???","text":"???","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/371446572","repostId":"2129981826","repostType":4,"isVote":1,"tweetType":1,"viewCount":730,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":344907084,"gmtCreate":1618364477748,"gmtModify":1704709685885,"author":{"id":"3576556872007568","authorId":"3576556872007568","name":"Li_Zonghao","avatar":"https://static.tigerbbs.com/60d5e3c911a4ebcc4e644df06c1f530b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576556872007568","idStr":"3576556872007568"},"themes":[],"htmlText":"???","listText":"???","text":"???","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/344907084","repostId":"2127049238","repostType":4,"isVote":1,"tweetType":1,"viewCount":986,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":344905528,"gmtCreate":1618364423064,"gmtModify":1704709683617,"author":{"id":"3576556872007568","authorId":"3576556872007568","name":"Li_Zonghao","avatar":"https://static.tigerbbs.com/60d5e3c911a4ebcc4e644df06c1f530b","crmLevel":11,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3576556872007568","idStr":"3576556872007568"},"themes":[],"htmlText":"???","listText":"???","text":"???","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/344905528","repostId":"1103358663","repostType":4,"isVote":1,"tweetType":1,"viewCount":1019,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}
