Core Insights - Wall Street firms, including JPMorgan, BlackRock, and Fidelity, have chosen Ethereum as their preferred blockchain for tokenization, indicating a significant trend in the financial industry [1][2][3]. Group 1: Adoption of Ethereum - JPMorgan's launch of the OnChain Net Yield Fund (MONY) follows BlackRock's USD Institutional Digital Liquidity Fund and Fidelity's Treasury Digital Fund, all utilizing Ethereum for tokenized money market funds (MMFs) [2]. - The largest funds from these firms each manage assets exceeding $1 trillion, contributing to a broader U.S. MMF market valued at over $7.5 trillion [2]. Group 2: Significance of Ethereum - The convergence of major asset management firms on Ethereum highlights its advantages, such as decentralization, a robust developer ecosystem, and regulatory familiarity, as opposed to private blockchains or newer networks [3]. - Ethereum's existing infrastructure supports asset managers in creating compliant and liquid on-chain offerings, reinforcing its position in the tokenization landscape [4]. Group 3: Alternative Blockchain Considerations - Despite Ethereum's dominance, alternative blockchains should not be overlooked; Provenance holds a significant share of the on-chain private credit market, and Polygon has seen substantial corporate bond issuance [5]. - Many companies developing tokenization solutions are adopting a blockchain-agnostic approach, indicating ongoing interest in both public and private networks [6]. Group 4: Future Implications - As tokenization gains traction on Wall Street, the current choices of infrastructure may establish standards for future on-chain markets, with Ethereum leading the way [7]. - JPMorgan's use of Ethereum for MONY contrasts with its deployment of other tokenized assets on its proprietary Kynexis platform, showcasing a diverse strategy in asset tokenization [8].

Core Insights - The article highlights a significant trend in 2025 where diversified investment strategies achieved strong returns, despite a general shift away from these strategies by investors [2][11][15] - Retail investors have been moving away from balanced and multi-asset funds, leading to 13 consecutive quarters of outflows in traditional blended strategies [7][15] - There is a growing concern among strategists that the abandonment of diversification could expose portfolios to risks, especially in a market characterized by high valuations and concentration in technology stocks [5][15] Investment Trends - Value-oriented equity ETFs attracted over $56 billion in inflows in 2025, marking the second-largest annual inflow since at least 2000, indicating a shift towards value investing [11][16] - Small-cap and international stocks are expected to outperform, with strategists predicting a broadening of US earnings growth into 2026 [12][16] - Alternative assets, including private credit, infrastructure, and digital assets, are gaining traction as investors seek exposure beyond traditional public markets [14][16] Market Dynamics - The 2022 bond market turmoil, driven by aggressive central bank tightening, has negatively impacted investor confidence in fixed income as a stabilizing asset [8][16] - The article notes that despite the focus on AI and tech, 2025 was characterized by a broader trend of global diversification rather than a singular focus on stocks [2][15] - There are indications of market froth, with some strategists warning that current market conditions may not align with fundamental valuations [13][16]

Core Viewpoint - The A-share market in 2025 is characterized by "index upward, structural activity," with significant performance differentiation among private equity funds, where quantitative private equity has emerged as a standout strategy [2]. Group 1: Performance of Quantitative Private Equity - As of December 5, 2025, the quantitative long strategy index has increased by 34.97%, while the quantitative stock selection strategy index has risen by 29.28% [7]. - The performance of quantitative private equity has been particularly strong due to the active nature of small and mid-cap stocks, which have outperformed large-cap indices, providing ample beta space for strategies [9]. - The ability of quantitative strategies to adapt to market fluctuations and maintain stable risk-return characteristics has been highlighted, especially during periods of market volatility [12][13]. Group 2: Market Environment and Strategy Adaptation - The market in 2025 has shown a tendency for frequent style rotation, with technology and growth sectors remaining central, allowing various strategies to thrive [12]. - Quantitative strategies have demonstrated their advantages in capturing structural opportunities through factor diversification and dynamic adjustment of positions, rather than relying on a single market direction [14]. - The overall improvement in quantitative private equity performance is attributed to effective adaptation to changing market conditions rather than short-term style bets [13]. Group 3: Future Outlook - Looking ahead, the macro environment is expected to remain characterized by weak recovery trends and high uncertainty, making it challenging for the market to revert to a single mainline-driven structure [14]. - Emphasizing discipline, diversification, and risk control, quantitative strategies are anticipated to continue providing high allocation value, particularly in volatile conditions [14].

JOHANNES EISELE/AFP via Getty Images Stagflation is one of the biggest risks staring down the Fed in 2026, Apollo's Torsten Sløk says. The scenario, often thought to be the worst-case for the economy, entails slow growth and elevated inflation. That risk is one of the biggest obstacles to the Fed cutting rates next year, in Sløk's view. A top economist is back with a stagflation warning. Torsten Sløk, the chief economist at Apollo Global Management, said he believes stagflation is still one of the ...

Core Insights - BlackRock is expanding its digital asset offerings globally and is actively hiring for leadership roles in crypto [1][2] Group 1: Hiring and Job Openings - BlackRock's global head of digital assets announced multiple leadership roles are available within the digital assets team [2] - The company is seeking candidates for positions in the U.S., Singapore, England, and Ireland, focusing on crypto assets, stablecoins, and tokenization [2] - Leadership roles require over 12 years of experience, while associate roles require 3-6 years [2] Group 2: Job Details and Salary - The Managing Director role in New York offers a salary range of $270,000-$350,000 and involves leading major digital asset initiatives [3] - Current employee work requirements include at least 4 days in the office and 1 day working from home [3] Group 3: Expansion of Digital Assets - BlackRock is the largest issuer of Bitcoin and Ethereum ETFs and has launched the BlackRock USD Institutional Digital Liquidity Fund on Ethereum [1] - The company is not only expanding its digital asset offerings in the U.S. but also in Europe and Asia [3]

Core Viewpoint - The company is transitioning to a new business model that combines non-performing asset management and long-term equity investments, with the latter becoming a new stabilizing force for performance [1]. Group 1: Financial Performance Projections - The company is expected to achieve a year-on-year increase in net profit attributable to shareholders of 7.4%, 11.0%, and 8.6% from 2025 to 2027, reaching 10.33 billion, 11.46 billion, and 12.45 billion yuan respectively, with corresponding EPS of 0.13, 0.14, and 0.16 yuan, and BVPS of 0.83, 0.98, and 1.13 yuan [1]. - A valuation of 2x PB for 2025E is assigned to the company, resulting in a target price of 1.16 HKD, with an initial coverage rating of "Buy" [1]. Group 2: Non-Performing Asset Management - The company has been adjusting its structure since 2022, focusing on both the disposal of existing assets and maintaining acquisition pace while accelerating impairment provisions [2]. - New non-performing debt assets are projected to be 48.3 billion, 47.3 billion, and 49.1 billion yuan from 2022 to 2024, showing a year-on-year decrease of 44.38%, 2.20%, and an increase of 3.80% respectively; the balance of non-performing debts is expected to decline to 444.9 billion, 398.5 billion, and 342.9 billion yuan, with year-on-year changes of -9.36%, -10.43%, and -13.96% [2]. - Due to accelerated impairment, the income from non-performing asset disposals is forecasted to drop to 28.6 billion, 15.9 billion, and 3.8 billion yuan from 2022 to 2024, reflecting a year-on-year decline of 17.03%, 44.59%, and 76.12% [2]. Group 3: Long-Term Equity Investment - Long-term equity investments are positioned as a new stabilizing force to counteract industry cycles, providing steady returns and long-term value [2]. - The company prefers investments in blue-chip state-owned enterprises and industry leaders that offer stable cash flows, strong dividend capabilities, mature governance, and potential synergies with its ecosystem [2].

Core Insights - Patria Investments Limited has announced a new corporate structure aimed at enhancing its global operating model and driving operational excellence [1] - The company is creating the role of Global Chief Operating Officer (COO) to lead this new structure, appointing Nikitas Psyllakis to the position [1] Company Developments - The new corporate structure is designed to better support Patria's strategic execution at scale [1] - The introduction of the COO role signifies a strategic move to improve operational efficiency within the organization [1]

We are ending 2025 with a complex landscape for US equities markets with record high valuations , and a clear distinction between the stocks that benefited from the new fiscal policies of the Trump administration andI am a dynamic finance professional with a Master’s in Banking & Finance from Université Paris 1 Panthéon-Sorbonne. My investing background mix corporate finance, M&A, and investment analysis, with a focus on real estate, renewable energy, and equity markets. I specialize in financial modelling, ...

Core Viewpoint - Rosen Law Firm is reminding investors who purchased securities of Blue Owl Capital Inc. during the specified Class Period of the upcoming lead plaintiff deadline on February 2, 2026, for a class action lawsuit [1]. Group 1: Class Action Details - Investors who bought Blue Owl securities between February 6, 2025, and November 16, 2025, may be entitled to compensation without any out-of-pocket fees through a contingency fee arrangement [1]. - A class action lawsuit has already been filed, and interested parties can join by submitting a form or contacting the law firm [2][5]. - The lead plaintiff must file a motion with the Court by February 2, 2026, to represent other class members in the litigation [2]. Group 2: Law Firm Credentials - Rosen Law Firm specializes in securities class actions and has a strong track record, including the largest securities class action settlement against a Chinese company [3]. - The firm has been ranked No. 1 for securities class action settlements in 2017 and has consistently ranked in the top 4 since 2013, recovering hundreds of millions of dollars for investors [3]. - In 2019, the firm secured over $438 million for investors, and its founding partner was recognized as a Titan of Plaintiffs' Bar by Law360 in 2020 [3]. Group 3: Case Allegations - The lawsuit alleges that Blue Owl made false or misleading statements and failed to disclose significant issues, including pressure on its asset base from BDC redemptions and undisclosed liquidity issues [4]. - It is claimed that Blue Owl was likely to limit or halt redemptions of certain BDCs, and the defendants downplayed the severity of these issues, leading to materially misleading positive statements about the company's business and prospects [4]. - The lawsuit asserts that when the true details became known, investors suffered damages [4].

Core Viewpoint - A class action has been filed on behalf of investors in Blue Owl Capital Inc. (NYSE: OWL), alleging that the company misled investors regarding its business prospects [1] Group 1: Class Action Details - The class period for the action is from February 6, 2025, to November 16, 2025 [1] - Robbins LLP is leading the investigation into the allegations against Blue Owl Capital Inc. [1] Group 2: Allegations - The complaint claims that Blue Owl Capital Inc. misled investors about its business prospects [1]