Did You Know?
The Federal Reserve held its benchmark interest rate steady, and a majority of officials at the central bank signaled they might not raise the rate at all this year. (WSJ)
Hedge funds had a rough year in 2018 losing $88 billion in assets, (down 6.7% on average) the most since the financial crisis. Hedge funds have on average underperformed the S&P 500 for 10 years in a row. 580 funds shut down, while 552 opened. The total hedge fund industry capital is $3.24 trillion. The top 10 hedge fund managers combined income in 2018 was $7.7 billion.
The venture capital industry has ballooned over the past decade. Recent research has found that the size of the sector has effectively tripled in just 10 years: in 2008, $53 billion was invested in start-ups, and by last year it was $160 billion. (Barron's)
Facebook admitted millions of users content has been compromised: you may want to change your passwords.