Know What's Happening in Finance
Know What's Happening in Finance
Klarna secures $1.7B risk transfer and $2B funding facility to boost lending
Klarna unveiled a $2 billion forward‑flow facility with Elliott Investment Management that will back up to $17 billion of U.S. loan originations over the next three years. It also completed a €1.7 billion Significant Risk Transfer led by Värde Partners, freeing capital for broader lending.
Also developing:
Etsy announced it will sell its second‑hand fashion app Depop to eBay for $1.2 billion in cash. Depop, which posted roughly $1 billion in gross merchandise volume and 7 million active buyers in 2025, was acquired by Etsy in 2021 for $1.62 billion. The transaction allows Etsy to refocus on its core handmade‑goods marketplace amid slowing growth, while eBay gains a youthful, social‑first resale platform. The deal is slated to close in Q2 2026.
In this episode, Warren Buffett’s 2008 shareholder letter is dissected to highlight timeless investment principles amid market turbulence. Buffett stresses that pessimism, not euphoria, should guide investors, urging disciplined valuation, liquidity, and patience during downturns while warning against chasing applause...
In this episode, Ed Wachenheim of Greenhaven Associates discusses his $6.1‑$6.2 billion equity portfolio, which remains heavily concentrated in cyclical and housing‑related stocks such as General Motors, Lennar, Toll Brothers, PulteGroup and D.R. Horton. He explains recent trims—most notably a 34%...
Nursing home operators are slowing mergers and acquisitions in 2026 as inflated asset prices and an aging facility stock raise concerns about long‑term sustainability. Leaders such as A.G. Rhodes, Diversicare and Focused Post‑Acute are prioritizing capital for modernization, data analytics...
Manie Du Bruyn founded Black Lion Property Group in 2015 and built a portfolio of high‑demand residential and mixed‑use projects in Pretoria, emphasizing reinvestment and a 30‑year horizon. Leveraging the disciplined financial and operational framework of the property business, he launched Black Lion...
United Airlines CFO Michael Leskinen hinted at a possible United‑JetBlue merger during a Barclays conference, suggesting the airline sees value in industry consolidation. He also disclosed that United will ground its Pratt & Whitney‑powered 777 fleet this summer, temporarily curbing...
In a recent episode of This Week in Fintech, Paxos Labs CEO Bhau Kotecha outlined the firm’s vision for stablecoins and tokenized finance. He noted that enterprises typically enter crypto by integrating stablecoins for payments or enabling crypto trading, then...
U.S. banks posted robust Q4 consumer‑loan growth, but all warned that a proposed 10% credit‑card rate cap could restrict credit access and hurt borrowers. JPMorgan’s credit‑card revenue fell short of forecasts by 7.6% and the bank now expects card‑loan growth...
U.K. banks, led by Barclays, are convening to fund a home‑grown payment network aimed at reducing reliance on Visa and Mastercard, which dominate 95% of the non‑cash market. Visa data shows the Milano‑Cortina 2026 Winter Olympics sparked a sharp surge...
Toyota Motor Corp's labor union lowered its annual bonus demand to 7.3 months' pay, a 0.3‑month reduction from last year’s record level, as the automaker faces higher U.S. tariffs. The union also called for wage hikes in the spring “shunto”...
eBay agreed to buy Depop from Etsy for $1.2 billion in cash, with the deal slated to close in Q2 2026. Depop, a social‑centric C2C fashion marketplace, will keep its brand and culture after the acquisition. The purchase follows Etsy’s 2021 $1.6 billion...
Sprite’s aviation securitization platform is launching a $495 million asset‑backed securities (ABS) program backed by lease contracts on 30 aircraft. The issuance comprises three fixed‑rate tranches with an anticipated repayment date in March 2033 and a final legal maturity in March 2041. World...
Botkeeper, an early AI accounting platform founded in 2015, announced its closure after eleven years despite achieving high‑accuracy transaction coding and a sophisticated AI suite. The company raised substantial venture capital and built an “Infinite” platform that could reconcile data...
Home Depot, Lowe’s and Amazon together captured 56% of the U.S. home‑improvement market in 2025, leaving independent hardware retailers struggling. Independent stores such as C&H Hardware and the 53‑year‑old Blossom True Value in Mountain View have shut down or announced...
Opkey introduced Design Studio, an AI‑driven module within its application lifecycle automation platform that streamlines ERP and HCM implementation planning. The visual canvas embeds more than 20 domain‑specific AI agents to automate discovery, requirements capture, process mapping, and configuration design....
The equal‑weighted S&P 500 continues a well‑defined uptrend, indicating intermediate‑term bullish momentum. In contrast, the broader, cap‑weighted U.S. equity averages remain confined to tight trading ranges, reflecting short‑term indecision. Meanwhile, the VVIX—volatility of the VIX—has stayed above the 100 threshold, underscoring...
The Nasdaq Composite posted the strongest advance among U.S. indexes, rising 0.8% as risk‑on sentiment persisted amid solid earnings and encouraging economic data. Federal Reserve officials remain divided on rates, while housing starts jumped 6.2% to a five‑month high and...
McKinsey reports that generative AI has slashed M&A costs by roughly 20% and accelerated deal timelines by 10% to 30%. The technology enables faster target identification, due diligence, and integration, especially amid geopolitical and supply‑chain disruptions. Bain finds one in...
Canadian fintech investment plunged 75% in 2025, falling to US$2.4 billion across 113 deals, down from a record US$9.9 billion in 2024. AI and digital‑asset firms dominated the reduced deal flow, while later‑stage platforms attracted the bulk of capital. The three biggest...
In this episode the host reviews a recent earnings event and observes that the stock is stabilizing, hinting at potential upward momentum. To capitalize on this, they outline a covered‑call strategy that generates upfront premium, reduces the effective cost basis,...
European investment‑grade credit remains resilient in early 2026 despite a 2% YoY dip in EBITDA growth and modest leverage creep. Interest‑coverage ratios have stabilised and rating upgrades in Spain and Italy bolster the sector’s outlook. Spreads have tightened to historic...
Here's ETF flows for the first six weeks of the year historically. This year is off to the best start almost by double. One reason is growing depth of cash vacuum cleaners. VOO, SPYM hoovering as always but there's already...
In this episode, Raj Parekh, Head of Stablecoins and Payments at Monad Foundation, discusses how enterprises can integrate stablecoins into their operations, weighing the prospects of building private corporate blockchains versus using existing networks. He explores whether the market will...
The Federal Reserve’s February 2026 FOMC minutes reveal that most participants remain uneasy about inflation, which is still above the central bank’s 2% target. The minutes signal a willingness to raise rates again if price pressures are not curbed, underscoring...
The episode examines the February 2026 selloff in U.S. insurance broker stocks, triggered by the launch of AI quoting tools from Insurify and Tuio on ChatGPT. While the market panicked, assuming AI would disintermediate all broker services, the discussion highlights...
The SEC has proposed amendments to Form N‑PORT that give investment companies an extra 15 days to file their monthly portfolio reports and shift public disclosure from a monthly to a quarterly cadence. The changes also eliminate the “Names Rule”...
Don Backstrom, co‑founder of the municipal advisory firm Backstrom McCarley Berry & Co., died at 84 from cancer. He launched the Los Angeles‑based firm on his 61st birthday in 2002 and served as managing director through July 2025, then part‑time until his death. Backstrom’s career spanned...
The article examines how AI’s high variable costs are reshaping recurring‑revenue models, moving firms away from flat‑rate SaaS subscriptions toward hybrid, usage‑based, and outcome‑based pricing. It cites McKinsey data showing 50% of firms plan AI adoption and highlights that 72%...
Northeast public issuers are grappling with crumbling infrastructure, rising construction costs and a wave of federal funding cuts. Tariffs and buy‑American requirements are inflating bus purchases for NJ Transit, while the Gateway tunnel project remains stalled after a $205 million funding...
It’s official: The current world order has broken down. In my parlance, we are in the Stage 6 part of the Big Cycle in which there is great disorder arising from being in a period in which there are no rules,...
With 13Fs for Q4 out, retweeting this AI workflow (which I quite like). I will be building a stack of a couple dozen funds I follow to get a quick look at their portfolios: new additions, size ups/downs and portfolio...
InfraVia Capital Partners, Telefónica and Liberty Global, through their Nexfibre joint venture, announced a $2.7 billion acquisition of Substantial Group, the United Kingdom’s second‑largest alternative fiber provider. The deal merges private‑equity capital with telecom expertise to expand Nexfibre’s footprint in the...
Regulators are treating conflicts of interest as operational threats rather than abstract compliance check‑boxes. Over the past 18 months the SEC has levied multi‑million penalties on advisers for undisclosed incentive structures, while the DOJ has pursued criminal cases where personal...
Sun Chemical, a global inks and materials producer, has chosen SNP’s Kyano platform to steer its worldwide SAP S/4HANA migration and shift to SAP Cloud ERP Private. The initiative will merge more than 60 regional ERP instances into a single,...
The volatility on #Bitcoin is the lowest it has been since the crash. That means; there's a big move on the horizon. If we dip, I'll be a big buyer, for sure. If we go back upwards, I'll start taking...
SpotGamma’s February OPEX briefing outlines the fixed‑expiration day’s critical market levels, volatility shifts, and actionable single‑stock ideas for options traders. The analysis pinpoints key support and resistance zones across the S&P 500, highlights a projected VIX dip to 17‑18, and flags...
Scope Ratings became the first European rating agency approved under the ECB's Eurosystem Credit Assessment Framework, allowing its ratings to be used as collateral in monetary‑policy operations. The firm differentiates itself by embedding the EU’s fragmented legal and market environments...
Using a 40% vol for TSLA, the stock dropping to $365 by March expiry is about a 1 st dev move. If normal distrubution the fair odds for that are 5-1. The 370-365 ps offers 5.7-1 It's not a rec...
At the current market cap, Topicus is effectively a “2015-vintage” version of Constellation Software $CSU $TOI $TOI.V
Omnicom reported a $941.1 million GAAP loss for Q4 2025, the first quarter after completing its $15 billion acquisition of Interpublic Group. Revenue surged 27.9% year‑over‑year to $5.5 billion, and adjusted EBITA reached $928.9 million with a 16.8% margin. The company doubled its cost‑synergy goal...
Bank of Ayudhya (Krungsri) announced a plan to add 100 billion baht in SME loans over the next four years, lifting its total SME portfolio to 350 billion baht. The initiative pairs soft‑loan financing with ESG education and advisory, targeting high‑growth sectors...
The reason this is important (even though it’s only a few stocks) is that the Mag 7 is so big that if they should fall they could well take the S&P 500 (cap-weighted) index with it. History shows (below) that...
This thing does not look well (SVIX on 15 minutes). Do your own work. https://t.co/81j1h6AyOe
Payroll data from Gusto shows that small businesses that increase AI‑exposed work see modest revenue gains and a slight rise in hiring. For every 10‑point boost in AI exposure, monthly revenue climbs about 2.2% after six months, while headcount grows...
A note re: $OPEN and $Lennar --- if you back it out, Lennar held 18.5M shares of Opendoor at end of its Q3. The 13F likely indicates either they had some anti-dilution protections or participated in debt-for-equity swap, and that’s why...
Great reminder futures rolls (H25 to M26) are upon us. Bottomline March 2y futs should be heavy. Roll is nasty at -4.5 which should add to the flattening pressure along with front-end auctions next week.
Ace Hardware posted record Q4 2025 revenue of $2.5 billion, a 9.9% year‑over‑year increase, while full‑year revenue reached $10 billion, up 5.8%. Net income slipped, falling $9.6 million in the quarter and $20.7 million for the year due to asset impairments and shutdown costs. The...
One more tweet as I've been procrastinating this am. This short exchange actually captures a lot of how I think about a portfolio when you roll it up to a high level. Trading your little edges but the portfolio wants...
New York City faces a fiscal crisis –– a $5.4B budget deficit. Mayor Mamdani’s plan: tax the most profitable corporations or INCREASE PROPERTY TAXES FOR THE FIRST TIME IN DECADES. MAMDANI’S PLAN = A PLAN TO KILL NEW YORK’S ECONOMY. https://t.co/HKJXzJh4Cu
Periods of high return dispersion are an opportunity for investors. As return performance gaps widen and valuation spreads develop, the ability to quantify the current rotation regime and anticipate the next one can deliver outperformance relative to...
