Proprietary comp report by Overheard on Wall Street.
Harvard's endowment got rekt by private equity and hedge funds, but private equity professionals expect double-digit raises in 2024.
Private equity and venture capital firms from Silicon Valley to Wall Street are pumping millions of dollars into the psychedelic revolution. Investors are betting on the power of mind-bending drugs to transform mental health treatment and cut costs.
Plus: A new meme stock dropped, Nvidia investing $100B in OpenAI, Oracle named two new co-CEOs and will control TikTokβs algo & marriage is fast turning into a luxury good.
Plus: $100K H-1B fee sparks confusion and panic, SMBC ups its stake in Jefferies to 20%, Dalio is bullish on gold, and is the lock-in season trend valuable or just hype?
Plus: The macro case for crypto, AI will not make you rich, and Ferrari status.
Plus: Cardlytics soared 93% after Citron Research used ChatGPT to tweet out a bullish call, and how Larry Ellison made $365 billion by breaking every wealth management rule.
Plus: StubHub IPO flopped, China banned Nvidia chips, Workday popped after Elliott stake, Meta dropped new Ray-Bans, Jimmy Kimmel got canceled, and is it too late to buy gold?
Plus: Oracle, Silver Lake, a16z to buy TikTok, rate cut expected today, Googleβs Gemini overtook ChatGPT, and JPM offering clients concierge perks from private jets to butlers.
Plus: Google joins $3T club, Barclays' $1B office renovation, wealthy Americans driving a $200B structured products boom, and NYC buses run slower than Central Park joggers.
Plus: Jon Gray says new analysts need to βwork harderβ and be nice, StubHubβs IPO is reportedly 20x oversubscribed, and Cantor has doubled size of investment bank.
Plus: How to get rich, generational stock market cycle, and the snake chasing effect.
Plus: Opendoor moons 80%, record private equity firms turning into zombie funds, JPMorgan wants to build Londonβs largest office tower, and gold continues to soar.
Plus: Struggling hedge fund PMs the hottest new recruits on Wall Street, Elon dethroned as worldβs richest man, Klarnaβs successful IPO, and KKR, Blackstone's new Asian HQ.
Plus: Ellison could become richest man in the world after Oracle up ~30%, a new Ackman ETF, Cracker Barrel in hot water again, and Robinhood's new social media platform.
