MSCI is removing the Russian stock index at zero, implicitly valuing the entire Russian equity market at nil. And it is correct.
Russian stocks are literally worth nothing.

MSCI is removing the Russian stock index at zero, implicitly valuing the entire Russian equity market at nil. And it is correct.
Russian stocks are literally worth nothing.
There have been some sudden movements in the global rates recently – rate rises, curves flattening, inflation threats.
The big and famous in the hedge fund world are raking significant losses.
Evergrande, China’s second largest real estate, will default on bond payments in the coming days. The company, bloated with $300 bn of debt, is typical of the $62 trillion Chinese real estate sector.
Evergrande’ s default may bring the sector and the Chinese economy down with it.
You remember our cryptocrook? Quant WizKid, market-neutral hedge fund, Cryptocurrency arbitrage great returns, $90m AUM… Except that it was a Ponzi.
His sentence just came out: 7½ years of jail. Here are the explanation & the context.
The German Supreme Court has made it official; the Cum/Ex was not a loophole but a blatant money grab.
The two Warburg executives can expect jail time, and their firm a bankruptcy.
Many others will follow.
A summary of the largest Ponzi schemes in history, with a visualization that is a pleasure to the eyes.
The 2-and-20 are decried as enormous and one-sided fees. Investors are angry at the poor net performances. The press is pointing at large redemptions in a failing industry.
In other news, the weather is beautiful in hedge fund land.
Medallion is Renaissance’s flagship fund. It was up 75% in 2020. Unfortunately, it manages only the employees’ money.
All the other investors were down ~30% during the same period. Not as great.
Redemptions ensued. $11 bn of redemptions now.
PwC released its annual Crypto Hedge Fund report; it contains many interesting statistics – fees, size, investor source, strategies, liquidity, performance…
The founder of a Turkish crypto exchange runs away with $2 billion from ~400,000 individuals.