Wealth

U.S. equity funds saw inflows of $2.2 billion in the week ended Wednesday, a period when Wall Street indexes hit record highs on optimism that President-elect Joe Biden will be able to push more economic stimulus through a Congress controlled by Democrats.

Y Combinator, Silicon Valley’s prominent incubator and startup fund, has half of its latest class of entrepreneurs from outside of the United States, more than ever before, as the pandemic has pushed all of its work online, Managing Director Michael Seibel said Thursday at the Reuters Next conference.

Billionaire investor James Simons is stepping down as chairman at Renaissance Technologies but will remain on the board of the $60 billion hedge fund he founded nearly 40 years ago.

Bond giant PIMCO expects the U.S. economy to return to pre-pandemic levels later this year but warned of political and economic risks that could derail the recovery, including a sooner-than-expected withdrawal of fiscal stimulus.

Jeffrey Gundlach, the billionaire chief executive of investment firm DoubleLine Capital, said on Tuesday he is bullish on Asian emerging market stocks and neutral on bitcoin given the volatility of the cryptocurrency.

New activist investors made nearly one third of all demands for operational fixes, refreshed boards, and sales of lagging units in 2020, eager to pursue strategies already employed by blue-chip agitators like Elliott Management and Starboard Value.

On the first sluggish Saturday of 2021, Jan. 2, many people were still nursing New Year hangovers. But there was no breather for bitcoin, which powered past $30,000 for the first time.