Bitcoin has rebounded from major losses before, and its long-term growth remains impressive. Before the pandemic boom in crypto prices, its value hovered well below $10,000. True believers, who call themselves Bitcoin maximalists, remain adamant that the cryptocurrency will eventually break from its correlation with risk assets.

Michael Saylor, the chief executive of the business-intelligence company MicroStrategy, has spent billions of his firm’s money on Bitcoin, building up a stockpile of more than 125,000 coins. As the price of Bitcoin has cratered, the company’s stock has dropped roughly 75 percent since November.

In an email, Mr. Saylor blamed the crash on “traders and technocrats” who don’t appreciate Bitcoin’s long-term potential to transform the global financial system.

“In the near term, the market will be dominated by those with less appreciation of the virtues of Bitcoin,” he said. “Over the long term, the maximalists will be proven correct, because billions of people need this solution, and awareness is spreading to millions more each month.”

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The Stock and Bond Markets Don’t Yet Know How to Cope With the Fed

On Wednesday, the S&P 500 stock index jumped 3 percent, as though all was right with the world. On Thursday, stocks collapsed, with the tech-heavy Nasdaq index plunging 5 percent as though the end of times was in sight.

Things on Friday were only slightly better. The S&P fell again, but only by 0.6 percent, and the Nasdaq lost a mere 1.4 percent. It was the fifth consecutive weekly decline in the S&P 500, its longest streak of losses since June 2011.

If you are looking for patterns in the market’s wild swings, the answer is simple: The financial markets are coming to grips with a stunning policy change by the Federal Reserve.

Over the last two decades, financial markets may have become so accustomed to encouragement from the Fed that they just don’t know how to react, now that the central bank is doing its best to slow down the economy.

news conference on Wednesday that the central bank was really and truly committed to driving down inflation. A transcript of Mr. Powell’s words is available on the Fed site. So is the text of the Fed’s latest policy statement. Check for yourself.

The Fed is willing to increase unemployment in the United States if that is what’s required to get the job done. And while they would much prefer that the United States doesn’t fall into a recession, Fed policymakers are willing to take the heat if the economy falters.

This may be hard to accept, and for a good reason.

millions of casualties worldwide, and it’s not over. From the narrow viewpoint of economics, the pandemic threw supply and demand for a vast variety of goods and services out of whack, and that has baffled policymakers. How much of the current bout of inflation has been caused by Covid, and what can the Fed possibly do about it?

Then there are the continuing lockdowns in China, which have reduced the supply of Chinese exports and dampened Chinese demand for imports, both of which are altering global economic patterns. On top of all that is the oil price shock caused by Russia’s war in Ukraine and by the sanctions against Russia.

Until late last year, the Fed said the inflation problem was “transitory.” Its response to an array of global challenges was to flood the U.S. economy and the world with money. It helped to reduce the impact of the 2020 recession in the United States — and it contributed to great wealth-creating rallies in the stock and bond markets.

But now, the Fed has recognized that inflation has gotten out of control and must be significantly slowed.

This is how Mr. Powell put it on Wednesday. “Inflation is much too high and we understand the hardship it is causing, and we’re moving expeditiously to bring it back down,” he said. “We have both the tools we need and the resolve it will take to restore price stability on behalf of American families and businesses.”

But its tools for reducing the rate of inflation without causing undue harm to the economy are actually quite crude and limited, he later acknowledged, in response to a reporter’s question. “We have essentially interest rates, the balance sheet and forward guidance, and they’re famously blunt tools,” he said. “They’re not capable of surgical precision.”

As if that were not scary enough, for an operation as delicate as the Fed is attempting, he added: “No one thinks this will be easy. No one thinks it’s straightforward, but there is certainly a plausible path to this, and I do think there, we’ve got a good chance to do that. And, you know, our job is not to rate the chances, it is to try to achieve it. So that’s what we’re doing.”

Well, fine. The Fed needs to make the attempt, but given the precariousness of the situation, the high volatility in financial markets is exactly what I’d expect to see.

The Federal Reserve is committed to continuing to raise the short-term interest rate it controls, the Fed funds rate, to somewhere well above 2.25 percent. Only a few months ago, that rate stood close to zero, and on Wednesday, the Fed raised it to the 0.75 to 1 percent range. The Fed also said it would begin reducing its $9 trillion balance sheet in June by about $1 trillion over the next year, and it continues to issue cautionary “forward guidance” — warnings of the kind that Mr. Powell made on Wednesday.

Watch out, he was essentially saying. Financial conditions are going to get much tougher — as tough as needed to stop inflation from becoming entrenched and deeply destructive. The Fed will be using blunt instruments on the American economy. There will be damage, inevitably. People will lose their jobs when the economy slows. There will be pain, even if it isn’t intended.

In the financial markets, short-term traders are unable to make sense of all this. The day-to-day shifts in the markets are about as informative as the meandering of a squirrel. But for those with long horizons, the outlook is straightforward enough.

A period of wrenching volatility is inescapable. This happens periodically in financial markets, yet those very markets tend to produce wealth for people who are able to ride out this turbulence.

It is important, as always, to make sure you have enough money put aside for an emergency. Then, assess your ability to withstand the impact of nasty headlines and unpleasant financial statements documenting market losses.

Cheap, broadly diversified index funds that track the overall market are being hit hard right now, but I’m still putting money into them. Over the long run, that approach has led to prosperity.

Count on more market craziness until the Fed’s struggle to beat inflation has been resolved. But if history is a guide, the odds are that you will do well if you can get through it.

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Can Elon Musk Make Twitter’s Numbers Work?

Still, the interest rates on the loans reflect the risk that they might not get paid back. The banks don’t hold on to the loans but sell them to other investors in the market, so if Twitter can’t pay its debts, Mr. Musk will either have to pay those investors, perhaps by selling more Tesla stock, or he could cede some part of his ownership of Twitter, diluting his stake.

Tesla had a market value of $902 billion as of Friday, but its shares have fallen by nearly 20 percent since Mr. Musk first revealed, in early April, that he had bought a big stake in Twitter. If Twitter’s finances go south, forcing Mr. Musk to sell more Tesla stock to pay Twitter’s debts or pledge more shares as collateral for his personal loans, it could put further pressure on Tesla’s stock price. Mr. Musk doesn’t take a salary from Tesla but is paid in stock that is released based on performance milestones that include the company’s share price.

Since Mr. Musk first disclosed his stake, the tech-heavy Nasdaq index has fallen more than 10 percent, making his offer appear even more generous. “It’s a high price and your shareholders will love it,” Mr. Musk said in a letter to Twitter’s board. Although the social media company’s stock had traded higher than Mr. Musk’s offer just six months ago, it slumped far below that price early this year and looked unlikely to return to those highs any time soon.

Mr. Musk has considered teaming up with investment firms in his bid to buy Twitter, which would reduce the amount of money he would personally have to invest. He could still partner with a firm or other investors like family offices to help raise cash, according to two people with knowledge of the discussions.

Thoma Bravo, a technology-focused buyout firm, has expressed willingness to provide some financing, but nothing has been decided yet. Apollo, an alternative asset manager, also looked at a possible deal where it would extend a loan on preferred terms.

If the deal math becomes unpalatable for Mr. Musk, he has an out: a breakup fee of $1 billion. For a man with an estimated fortune well over $200 billion, that’s a small price to pay.

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Costar Group verwelkomt Robert Stassen als nieuw hoofd Analytics voor uitbreiding van Europese regio

WASHINGTON–(BUSINESS WIRE)–Costar Group, Inc. (NASDAQ: CSGP), een toonaangevende leverancier van online vastgoedmarktplaatsen, -informatie en -analyses op de commerciële en residentiële vastgoedmarkt, kondigde vandaag de aanstelling aan van Robert Stassen als hoofd Analytics voor Europa.

In deze functie zal Stassen verantwoordelijk zijn voor het laten groeien van en leidinggeven aan het expanderende Europese Analytics-team van Costar Group terwijl het inzichtelijke analyses produceert van de economische en vastgoedmarktomstandigheden in de regio voor opname in het productaanbod van het bedrijf.

“Naarmate Costar Group ons bereik in Europa blijft uitbreiden, wisten we dat we een getalenteerde leider met een onmiskenbaar sterk begrip van de unieke complexe commerciële vastgoedsector van de regio moesten vinden,” aldus Lisa Ruggles, Senior Vice President van Global Marketing Research, Analytics and News, CoStar Group. “Wij zijn van mening dat Robert de allerbeste en perfect voor deze rol is. We zijn ongelooflijk enthousiast om hem te verwelkomen in de CoStar-familie en kijken uit naar hoe hij het Marketing Research and Analytics-team in Europa gaat vormgeven.”

Naast het laten groeien van het team en het aanstellen van senior talent op de belangrijkste markten in Europa, zal Stassen ook direct verantwoordelijk zijn voor het waarborgen dat de data van CoStar de markttrends nauwkeurig weerspiegelen. Hij zal betrokken zijn bij verkoop- en marketinginitiatieven in de regio en ook dienen als een belangrijk contactpunt voor CoStar-klanten en belangrijke opdrachtgevers, waarbij hij de relaties op het hele continent zal bevorderen en versterken.

Stassen voegt zich bij de CoStar-familie met bijna 30 jaar werkervaring in de Europese financiële en commerciële vastgoedindustrie. Eerder bracht hij zeven jaar door als hoofd Capital Markets Research voor de EMEA-regio bij Jones Lang LaSalle (JLL), waar hij hun klantennetwerk uitbreidde en toezicht hield op strategische initiatieven die de pan-Europese kapitaalmarkten beïnvloedden.

Over CoStar Group, Inc.

Costar Group, Inc. (NASDAQ: CSGP), is een toonaangevende leverancier van online vastgoedmarktplaatsen, -informatie en -analyses op de commerciële en residentiële vastgoedmarkt. CoStar, opgericht in 1987, voert uitgebreid, doorlopend onderzoek uit om de grootste en meest uitgebreide database van informatie over commerciële vastgoed te produceren en te onderhouden. Met onze reeks online diensten kunnen klanten de waarden, marktomstandigheden en huidige beschikbaarheid van commercieel vastgoed analyseren, interpreteren en daarin ongeëvenaard inzicht krijgen. STR biedt hoogwaardige data-benchmarking, analyses en marktplaatsinzichten voor de wereldwijde gastvrijheidsindustrie. Ten-X biedt een vooraanstaand platform voor het uitvoeren van online veilingen en onderhandelde biedingen voor commercieel onroerend goed. LoopNet is de commerciële vastgoedmarktplaats online met het meeste verkeer. Appartments.com, ApartmentFinder.com, ForRent.com, ApartmentHomeliving.com, Westside Rentals, AFTER55.com, CorporateHousing.com, ForRentUniversity.com en Apartamentos.com vormen de belangrijkste online hulpbron voor appartementen voor huurders die op zoek zijn naar geweldige appartementen en bieden vastgoedbeheerders en -eigenaren een bewezen platform voor het op de markt brengen van hun eigendommen. Homesnap is een sectorleidend online en mobiel softwareplatform dat gebruiksvriendelijke applicaties biedt om de workflow van residentiële makelaars te optimaliseren en de makelaar-klantrelatie te versterken. Homes.com biedt advertentie- en marketingdiensten voor vastgoedprofessionals voor residentievastgoed. Realla is de meest uitgebreide digitale marktplaats voor commercieel vastgoed van het Verenigd Koninkrijk. In Frankrijk is BureauxLocaux een van de grootste gespecialiseerde vastgoedportals voor het kopen en leasen van commercieel onroerend goed, en Business Immo wordt algemeen erkend als een vooraanstaande digitale nieuwsaanbieder van commercieel onroerend goed in het land. De websites van Group trekken tientallen miljoenen unieke maandelijkse bezoekers aan. Costar Group heeft het hoofdkantoor in Washington, DC en onderhoudt kantoren in de VS, Europa, Canada en Azië. Van tijd tot tijd zijn we van plan om onze bedrijfswebsite, http://www.costargroup.com, te gebruiken als een distributiekanaal voor materiële bedrijfsinformatie. Ga voor meer informatie naar CoStarGroup.com.

Dit persbericht omvat “toekomstgerichte verklaringen”, waaronder, zonder beperking, verklaringen met betrekking tot de verwachtingen, overtuigingen, intenties of strategieën van Costar Group met betrekking tot de toekomst. Deze verklaringen zijn gebaseerd op huidige overtuigingen en zijn onderworpen aan veel risico’s en onzekerheden die ervoor kunnen zorgen dat de werkelijke resultaten materieel verschillen van deze verklaringen, inclusief het risico dat de verwachte toenemende wereldwijde uitbreiding van het bedrijf niet zal zijn als en wanneer verwacht. Meer informatie over potentiële factoren die ertoe kunnen leiden dat de resultaten materieel verschillen van die welke in de toekomstgerichte verklaringen worden verwacht, omvatten, maar zijn niet beperkt tot, die van tijd tot tijd worden vermeld in de deponeringen van Costar Group bij de Securities and Exchange Commission, inclusief in het jaarverslag van CoStar op Formulier 10-K voor het jaar eindigend op 31 december 2021, dat is ingediend bij de SEC, inclusief in de secties “Risicofactoren” van die deponering, evenals de andere deponeringen van CoStar bij de SEC beschikbaar op de website van de SEC www.sec.gov). Alle toekomstgerichte verklaringen zijn gebaseerd op informatie die beschikbaar is voor CoStar Group op de datum hiervan, en CoStar Group is niet verplicht om enige toekomstgerichte verklaringen bij te werken of te herzien, hetzij als gevolg van nieuwe informatie, toekomstige gebeurtenissen of anderszins.

Deze bekendmaking is officieel geldend in de originele brontaal. Vertalingen zijn slechts als leeshulp bedoeld en moeten worden vergeleken met de tekst in de brontaal, die als enige rechtsgeldig is.

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CoStar Group Appoints David Mele as President of LoopNet

WASHINGTON–(BUSINESS WIRE)–CoStar Group, Inc. (NASDAQ: CSGP) – a leading provider of online real estate marketplaces, information, and analytics in the commercial and residential property markets today proudly announced the appointment of David Mele as the new President of LoopNet.

LoopNet is the most heavily trafficked mobile and online commercial real estate marketplace, connecting tenants and investors to commercial real estate available for sale and lease. As President, Mele will be responsible for the overall business strategy, sales, product management, marketing and extending LoopNet’s success internationally.

“Over the past several years, LoopNet has grown into the largest commercial real estate marketplace in the world, and we’re excited to bring on David Mele to oversee the company during these times of staggering growth,” said Andrew Florance, Founder and Chief Executive Officer, CoStar Group. “With decades of experience, David has a proven track record of building and growing successful online marketplaces and we are confident that he will take LoopNet to the next level.”

David Mele joined CoStar Group in May 2021 as part of the Homes.com acquisition where he successfully served as President of Homes.com since 2014. As President, Mele played an integral part of the company’s acquisition by CoStar Group in May 2021.

Prior to joining Homes.com, David served as publisher of The Virginian-Pilot, the largest daily metro newspaper in Virginia, and president of Pilot Media, a diversified media company based in Norfolk, Virginia. He also served as general manager of Pilot Interactive, where he was responsible for online and digital operations including PilotOnline.com, HamptonRoads.com, online vertical marketplaces for homes, jobs, and autos, and a digital services division that delivered search engine marketing, social media and web development solutions. Mele began his career with Accenture, a global management consulting and technology services company, where he worked with a number of Fortune 100 companies on new product development and innovation.

About CoStar Group, Inc.

CoStar Group, Inc. (NASDAQ: CSGP) is a leading provider of online real estate marketplaces, information and analytics. Founded in 1987, CoStar conducts expansive, ongoing research to produce and maintain the largest and most comprehensive database of commercial real estate information. Our suite of online services enables clients to analyze, interpret and gain unmatched insight on commercial property values, market conditions and current availabilities. STR provides premium data benchmarking, analytics and marketplace insights for the global hospitality industry. Ten-X provides a leading platform for conducting commercial real estate online auctions and negotiated bids. LoopNet is the most heavily trafficked commercial real estate marketplace online. Apartments.com, ApartmentFinder.com, ForRent.com, ApartmentHomeLiving.com, Westside Rentals, AFTER55.com, CorporateHousing.com, ForRentUniversity.com and Apartamentos.com form the premier online apartment resource for renters seeking great apartment homes and provide property managers and owners a proven platform for marketing their properties. Homesnap is an industry-leading online and mobile software platform that provides user-friendly applications to optimize residential real estate agent workflow and reinforce the agent-client relationship. Homes.com offers real estate professionals advertising and marketing services for residential properties. Realla is the UK’s most comprehensive commercial property digital marketplace. BureauxLocaux is one of the largest specialized property portals for buying and leasing commercial real estate in France. CoStar Group’s websites attract tens of millions of unique monthly visitors. Headquartered in Washington, DC, CoStar Group maintains offices throughout the U.S., Europe, Canada and Asia. From time to time, we plan to utilize our corporate website, CoStarGroup.com, as a channel of distribution for material company information.

This news release includes “forward-looking statements” including, without limitation, statements regarding CoStar Group’s expectations, beliefs, intentions or strategies regarding the future. These statements are based upon current beliefs and are subject to many risks and uncertainties that could cause actual results to differ materially from these statements, including the risk that the Company’s expected growth will not be as and when expected. More information about potential factors that could cause results to differ materially from those anticipated in the forward-looking statements include, but are not limited to, those stated in CoStar Group’s filings from time to time with the Securities and Exchange Commission, including in CoStar’s Annual Report on Form 10-K for the year ended December 31, 2021, which is filed with the SEC, including in the “Risk Factors” sections of that filing, as well as CoStar’s other filings with the SEC available at the SEC’s website (www.sec.gov). All forward-looking statements are based on information available to CoStar Group on the date hereof, and CoStar Group assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

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CNN+ Streaming Service Will Shut Down Weeks After Its Start

Executives at Discovery, wary of antitrust rules, were constrained from advising their counterparts at CNN until the merger was done. CNN+ had lost its champion when Mr. Zucker left in February because of an undisclosed romantic relationship with a colleague. But Jason Kilar, the WarnerMedia chief executive, forged ahead anyway, launching the streaming platform on March 29 to the frustration of the Discovery leadership.

It quickly became apparent that Mr. Zaslav had a very different view on digital strategy.

On the morning of April 11, the first business day of Discovery’s ownership — and 90 minutes before its WBD stock even went live on Nasdaq — JB Perrette, Discovery’s global head of streaming, convened a meeting with CNN executives.

Mr. Perrette had a message: Marketing of CNN+ was to be suspended, pending a formal review of the business, three people familiar with the conversation said.

Executives at Warner Bros. Discovery wanted to merge its other subscription platforms — Discovery+ and HBO Max — into one giant streaming service. They were not convinced that a niche product like CNN+ could be viable on its own.

And there was the matter of the debt. Discovery’s merger left the conglomerate owing about $55 billion, which executives are now under pressure to repay. CNN had been planning to spend more than $1 billion on CNN+ over four years, two people familiar with the matter said, even renting out an additional floor of its pricey Manhattan skyscraper.

Andrew Morse, CNN’s chief digital officer and a key architect of CNN+, who became the biggest internal champion of the service, countered that subscription-based online news could be successful, citing The New York Times as an example. Executives at CNN+ said they had secured 150,000 paying subscribers and were on a pace to hit first-year subscription goals.

Executives at Discovery were not impressed: At any given time, fewer than 10,000 people were watching the service, said two people familiar with the numbers, who were not authorized to speak publicly. (On Thursday, Mr. Morse said he was leaving the network entirely.)

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INDUS Announces 2022 First Quarter Earnings Call

NEW YORK–(BUSINESS WIRE)–INDUS Realty Trust, Inc. (Nasdaq: INDT) (“INDUS” or the “Company”), a U.S. based industrial/logistics REIT, announced today that it will release its financial results for the three months ended March 31, 2022 (the “2022 first quarter”) before the market opens on Tuesday, May 10, 2022. The Company will hold a conference call on Tuesday, May 10, 2022, at 11:00 am Eastern Time to discuss its results and provide a business update, followed by a live question and answer session. The Company’s press release and supplemental materials containing additional financial and operating information will be available on INDUS’ website under the Investors section in advance of the call.

INDUS encourages participants to pre-register for the 2022 first quarter conference call using the following link: https://dpregister.com/sreg/10165619/f250140aab.

Callers who pre-register will be given a conference passcode and unique PIN to gain immediate access to the call and bypass the live operator. Participants may pre-register at any time, including up to and after the call start time.

A listen-only webcast of the call will also be made available at the following link: https://services.choruscall.com/mediaframe/webcast.html?webcastid=XoUFSXsm.

Those without internet access or those unable to pre-register may dial in at 11:00 am Eastern Time on Tuesday, May 10, 2022, by calling:

PARTICIPANT DIAL IN (TOLL FREE): 1-866-777-2509

PARTICIPANT INTERNATIONAL DIAL IN: 1-412-317-5413

An archived recording of the webcast will be available for three months under the Investors section of INDUS’ website at www.indusrt.com.

About INDUS

INDUS is a real estate business principally engaged in developing, acquiring, managing, and leasing industrial/logistics properties. INDUS owns 36 industrial/logistics buildings aggregating approximately 5.4 million square feet in Connecticut, Pennsylvania, North Carolina, South Carolina, and Florida.

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Mr. Cooper Group Inc. to Discuss First Quarter 2022 Financial Results on April 28, 2022

DALLAS–(BUSINESS WIRE)–Mr. Cooper Group Inc. (NASDAQ: COOP) will discuss its financial results for the first quarter 2022 on Thursday, April 28, 2022 at 4:30 P.M. Eastern Time. A copy of the press release and investor presentation will be posted thirty minutes prior to the call under the investors section on Mr. Cooper Group’s website, www.mrcoopergroup.com. Pre-registration for the call is now open by visiting http://www.directeventreg.com/registration/event/1470118. Participants will receive a toll-free dial-in number and a unique registrant ID to be used for immediate call access. A simultaneous audio webcast of the conference call will be available under the investors section on www.mrcoopergroup.com.

A telephonic replay will also be available approximately two hours after the conclusion of the conference call by dialing 855-859-2056 (toll-free), or 404-537-3406 (international). Please use the passcode 1470118 to access the replay. The replay will be accessible through May 12, 2022.

About Mr. Cooper Group Inc.

Mr. Cooper Group Inc. (NASDAQ: COOP) provides quality servicing, origination and transaction-based services related principally to single-family residences throughout the United States with operations under its primary brands: Mr. Cooper® and Xome®. Mr. Cooper is one of the largest home loan servicers in the country focused on delivering a variety of servicing and lending products, services, and technologies. Xome provides technology and data enhanced solutions to homebuyers, home sellers, real estate agents and mortgage companies. For more information, visit www.mrcoopergroup.com.

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