A few VENUS flights up and out of JBA already plus
82-8000 USAF 747 departed JBA
Have not seen 92-9000 (the other 747) for a long time-last cap I have had it arriving at Lackland AFB San Antonio on Nov 30th so it must be getting some upgrades
VENUS92 C-32A nw (this secondary AF2 and used by State Dept.) VENUS61 G5 sw from JBA
morning B
that is a good "problem" to have
you da boss so if goes or not mostly your decision.
member those days…nice but sometimes not when it got deep trying to keep it all together.
ARK Funds Amend ETF Prospectus To Remove Investment Concentration Limits
We have been following the volatility with flows in and out of ARK Funds over the last few months, make note of Cathie Wood's performance and "proprietary" investing style as the NASDAQ has whipsawed back and forth for the better part of 2021.
Now, it looks like ARK is making some changes in its disclosures commensurate with its recent "active investing style", wherein it has been rotating out of large cap tech names and into smaller, more speculative names, especially in its ARKK flagship fund.
ARK funds filed an amendment to its prospectuses for its ETFs on Friday, making some little recognized changes that were caught by @syouth1 on Twitter over the weekend.
The new ARK SEC filing does several things. First, on a perfunctory note, it specifies risks related to investing in SPACs, noting that they are "subject to a variety of risks beyond those associated with other equity securities".
Special Purpose Acquisition Companies (SPACs). The Fund may invest in stock of, warrants to purchase stock of, and other interests in SPACs or similar special purposes entities. A SPAC is a publicly traded company that raises investment capital for the purpose of acquiring or merging with an existing company. Investments in SPACs and similar entities are subject to a variety of risks beyond those associated with other equity securities. Because SPACs and similar entities do not have any operating history or ongoing business other than seeking acquisitions, the value of their securities is particularly dependent on the ability of the SPAC’s management to identify a merger target and complete an acquisition. Until an acquisition or merger is completed, a SPAC generally invests its assets, less a portion retained to cover expenses, in U.S. government securities, money market securities and cash and does not typically pay dividends in respect of its common stock. As a result, it is possible that an investment in a SPAC may lose value.
But then the filing gets very interesting - language is removed that allows ARK funds to take even larger concentrations in names - in addition to over-the-counter traded ADRs, which are notoriously riskier products than normal equity.
The amendment removes ARK's limit to invest 10% of its total assets in any active fund in ADRs that are traded over-the-counter. On top of that, the amended prospectus removes language that formerly limited ARK to investing no more than 30% of a fund's total assets into securities issued by a single company. Another "rule" removed was language preventing ARK from investing in more than 20% of a company's total outstanding shares.
The amendments portend ARK piling further into concentrated, high-risk names that dominate their respective funds. Wood's recent rotation out of big cap names like Microsoft and into "speculative" smaller cap companies like Workhorse and Vuzix has made it clear that the firm's appetite for risk continues to grow as NASDAQ volatility continues.
Obviously, if a pin is finally going to prick the NASDAQ gamma bubble that has blown up over the last 12 months, the higher Wood's concentration in speculative names, the more spectacular a crash would be for ARK funds.
But for now, ARK continues to hold up - we noted it will be launching its Space ETF as soon as this week. And despite noting that the NASDAQ gamma squeeze appears to be over, Wood and her team seem hell bent on continuing to tempt fate. We'll keep a close eye on the situation going forward.
https://www.zerohedge.com/markets/ark-funds-amend-etf-prospectus-remove-investment-concentration-limits
This will end soooo poorly
Ukraine's central bank governor returns to work after COVID-19
Ukrainian Central Bank Governor Kyrylo Shevchenko has recovered from the coronavirus and returned to work, the bank’s spokeswoman said on Monday. Shevchenko wrote on Facebook on March 10 that he had gone into self-isolation because of coronavirus. “The governor recovered from the COVID and returned fully to his duties,” Galyna Kalachova told Reuters, without giving further details. Several prominent Ukrainian politicians, including President Volodymyr Zelenskiy, have already had coronavirus. Ukraine reported more than 1.65 million coronavirus cases with 32,132 deaths as of March 29, while 1.3 million Ukrainians have recovered.
https://www.reuters.com/article/health-coronavirus-ukraine-cenbank/ukraines-central-bank-governor-returns-to-work-after-covid-19-idUSL1N2LR1BT
RCH760T USAF C-17 Globemaster departed MCB Quantico after a ground stop-inbound from Charelston Int'l
Where is Joe and/or Kneepads going next??…….
82-8000 USAF 747 over Harrisburg Int'l Airport with some fly-bys at present
Joe going to Pittsburgh on Weds.
RCH760T C-17 Globemaster on descent for Pittsburgh Int'l from MCB Quantico
Biden to Reveal Major Spending Plan With Big Battle Ahead
Biden will unveil the framework for a major infrastructure-and-jobs program on Wednesday in Pittsburgh, and later in the week offer the first glimpse of his 2022 budget – which promises to redirect federal funds to areas such as climate change and health care.
https://www.bloomberg.com/news/articles/2021-03-29/biden-to-reveal-major-spending-plan-with-political-battle-ahead
Billions in Secretive Derivatives at Center of Archegos Blowup
The forced liquidation of more than $20 billion in holdings linked to Bill Hwang’s investment firm is drawing attention to the covert financial instruments he used to build large stakes in companies.
Much of the leverage used by Hwang’s Archegos Capital Management was provided by banks including Nomura Holdings Inc. and Credit Suisse Group AG through swaps or so-called contracts-for-difference, according to people with direct knowledge of the deals. It means Archegos may never actually have owned most of the underlying securities – if any at all. While investors who build a stake of more than 5% in an U.S.-listed company usually have to disclose their position and future transactions, that’s not the case with stakes built through the type of derivatives apparently used by Archegos. The products, which are made off exchanges, allow managers like Hwang to amass stakes in publicly traded companies without having to declare their holdings.
The swift unwinding of Archegos has reverberated across the globe, after banks such as Goldman Sachs Group Inc. and Morgan Stanley forced Hwang’s firm to sell billions of dollars in investments accumulated through highly leveraged bets. The selloff roiled stocks from Baidu Inc. to ViacomCBS Inc., and prompted Nomura and Credit Suisse to disclose that they face potentially significant losses on their exposure. One reason for the widening fallout is the borrowed funds that investors use to magnify their bets: a margin call occurs when the market goes against a large, leveraged position, forcing the hedge fund to deposit more cash or securities with its broker to cover any losses. Archegos was probably required to deposit only a small percentage of the total value of trades.
The chain of events set off by this massive unwinding is yet another reminder of the role that hedge funds play in the global capital markets. A hedge fund short squeeze during a Reddit-fueled frenzy for Gamestop Corp. shares earlier this year spurred a $6 billion loss for Gabe Plotkin’s Melvin Capital and sparked scrutiny from U.S. regulators and politicians. The idea that one firm can quietly amass outsized positions through the use of derivatives could set off another wave of criticism directed against loosely regulated firms that have the power to destabilize markets.
While the margin calls on Friday triggered losses of as much as 40% in some shares, there was no sign of contagion in markets broadly on Monday. Contrast that with 2008, when Ireland’s then-richest man used derivatives to build a position so large in Anglo Irish Bank Corp. it eventually contributed to the country’s international bailout. In 2015, New York-based FXCM Inc. needed rescuing because of losses at its U.K. affiliate resulting from the unexpected de-pegging of the Swiss franc. As well as their secrecy, equity swaps and CFDs grew in popularity among hedge funds because they are exempt from stamp duty in high-tax jurisdictions such as the U.K. Banks like them because they can make a large profit without needing to set aside as much capital versus trading actual securities, partly a consequence of regulation imposed in the aftermath of the global financial crisis. Regulators in Europe have begun clamping down on CFDs in recent years because they’re concerned the derivatives are too complex and too risky for retail investors. In the U.S., CFDs are largely banned for amateur traders.
Much about Hwang’s trades remains unclear, but market participants estimate his assets had grown to anywhere from $5 billion to $10 billion in recent years and total positions may have topped $50 billion. Hwang didn’t respond to requests for comment.
https://www.bnnbloomberg.ca/billions-in-secretive-derivatives-at-center-of-archegos-blowup-1.1583566
BOXER43 USAF C-40C departed Tucson Int'l after an overnight-prior stop at MCAS Yuma for about an hour yesterday prior to Tucson
from this morning
Mexican official among 6 dead after small plane bound for Tucson crashes in northern Mexico; 1 injured
A small plane heading for Arizona crashed in the northern Mexico border state of Sonora on Saturday, killing six people and injuring another, authorities said. The Cessna had taken off from the city of Hermosillo in Sonora on a flight to Tucson when it crashed shortly after takeoff.
The dead included a Sonora state government economic development official, Leonardo Ciscomani. The pilot was also among the dead.
The state prosecutors' office said the cause of the crash was under investigation.
https://www.azcentral.com/story/news/local/arizona/2021/03/29/mexico-official-leonardo-ciscomani-among-6-dead-small-plane-crash-mexico/7045447002/
>>73656 pb
NINJA61 US Army C-560 departed Los Alamitos earlier and east from a ground stop at Palm Springs Int'l
Cheniere Energy Partners sold by Blackstone Group: $87.71m-Mar 24
Cheniere Energy Partners, L.P. (Cheniere Partners) is a limited partnership formed by Cheniere Energy, Inc (Cheniere). The Company provides liquefied natural gas (LNG) to integrated energy companies, utilities and energy trading companies. The Company operates through liquefaction and regasification operations at the Sabine Pass LNG terminal segment. Through its subsidiary, Sabine Pass Liquefaction, LLC (SPL), the Company is operating five natural gas liquefaction trains and are constructing one additional Train for a total production capacity of approximately 30 mtpa LNG (the Liquefaction Project) at the Sabine Pass LNG terminal located in Cameron Parish, Louisiana, on the Sabine-Neches Waterway less than four miles from the Gulf Coast. Number of employees : 1 519 people.
https://www.marketscreener.com/quote/stock/CHENIERE-ENERGY-PARTNERS-15175/company/
Blackstone Group Inc. is an investment firm. The Company's alternative asset management business includes investment vehicles focused on real estate, private equity, public debt and equity, growth equity, non-investment grade credit, real assets and secondary funds, all on a global basis. It operates through four segments: Private Equity, Real Estate, Hedge Fund Solutions and Credit & Insurance. The Private Equity segment includes corporate private equity business, which consists of it's corporate private equity funds, Blackstone Capital Partners funds, it's sector-focused corporate private equity funds, including it's energy-focused funds, Blackstone Energy Partners funds and it's core private equity fund. The Blackstone Real Estate Partners funds target a range of opportunistic real estate and real estate related investments. The Hedge Fund Solutions segment consists of Blackstone Alternative Asset Management. The Credit & Insurance segment consists principally of Blackstone Credit. Number of employees : 3 165 people.
https://www.marketscreener.com/quote/stock/THE-BLACKSTONE-GROUP-INC-60951400/company/
https://finviz.com/insidertrading.ashx?oc=1393818&tc=7&b=2