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| February 21, 2019

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Amazon sales and profit beat estimates, driven by retail and web services

February 1, 2019 |

Amazon.com Inc.’s sales and earnings last quarter — which included the busy holiday season — beat analysts’ estimates, showing that the world’s biggest web retailer can maintain rapid growth while improving profitability and fending off online competition from rivals such as Walmart Inc.

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L.A. Times – Business

CNN

This robot could beat you at Jenga

January 31, 2019 |

Robots are an increasingly common feature of everyday life, whether they are cleaning your house or stocking the shelves at the grocery store.
CNN.com – RSS Channel – Regions – Americas

Steve Hilton: Mattis, Kelly marched to the establishment beat. Trump was right to fire them

January 7, 2019 |

Gens. Mattis and Kelly may have been heroes in combat – I don’t know, I’m not a military man and can’t judge. But I do know something about civilian government, and the way they behaved was not just disgraceful, but frightening.
FOX News

TMZ

UFC Star Kevin Lee Says He’ll Beat Khabib’s Ass After He Whoops Iaquinta

December 13, 2018 |

MMA fighters are terrified of Khabib … that is, except UFC star Kevin Lee who says he’s dyin’ to square up with the undefeated champ … and he’s confident he’ll kick his ass. Lee — the #4 ranked lightweight — tells TMZ Sports he knows exactly…

TMZ.com

Shoe brands beat a path to downtown L.A.’s ‘Sneaker Row’

December 8, 2018 |

USC freshman Mahmood Alfayoumi, 18, had heard about “Sneaker Row” in downtown Los Angeles, but even this seasoned fan of athletic footwear wasn’t prepared for what he found.

At a recently opened Jordan-Nike-Footaction collaboration, Alfayoumi ogled hard-to-find sneaks, browsed the onsite customization…


L.A. Times – Business

Buffett Bet 2.0: Asset Manager Wagers Cryptocurrency Fund Will Beat S&P 500

December 7, 2018 |

Cryptocurrency asset manager Morgan Creek Digital is betting $ 1 million that its crypto fund will outperform the S&P 500, calling the challenge Buffett Bet 2.0 to mimic the billionaire investor’s famous bet. The wager is expected to be taken by “someone who is bullish on the S&P 500, or someone who thinks cryptocurrencies are worthless or overvalued.”

Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations

Recreating Buffett’s Wager

Buffett Bet 2.0: Asset Manager Wagers Cryptocurrency Fund Will Beat S&P 500Morgan Creek Digital is recreating Warren Buffett’s famous $ 1 million wager. However, “unlike the famous value-investor, Morgan Creek is betting against the S&P and placing its faith in the 10-year performance of cryptocurrencies,” CNBC reported on Thursday.

Anthony Pompliano, Morgan Creek Digital’s co-founder and partner, was quoted as saying:

Whoever takes the other side will likely be someone with the same outlook as Buffett. It’ll be either someone who is bullish on the S&P 500, or someone who thinks cryptocurrencies are worthless or overvalued.

Buffett Bet 2.0: Asset Manager Wagers Cryptocurrency Fund Will Beat S&P 500Buffett took a $ 1 million bet using his own money against asset manager Protégé Partners in 2007. He wagered that a passive investment in the S&P 500 would outperform a sample of five actively managed hedge funds picked by Protégé Partners. “Buffett won that bet in 2017, with the S&P returning about 7 percent compounded annually versus a 2.2 percent from the hedge funds,” the publication wrote.

Calling the challenge “Buffett Bet 2.0,” Morgan Creek Digital is inviting anyone who believes that the S&P 500 will outperform its index fund over a decade to take the other side of the bet, the news outlet detailed. The company’s $ 1 million will be funded by its partners. Pompliano said the intention is for the winner to donate the proceeds to charity.

Crypto Fund vs. S&P 500

Buffett Bet 2.0: Asset Manager Wagers Cryptocurrency Fund Will Beat S&P 500Morgan Creek is betting that its Digital Asset Index Fund will outperform the S&P 500 over a 10-year period starting Jan. 1, CNBC described. The fund, available to accredited U.S.-based investors, requires a minimum investment of $ 50,000, carries a management fee of 2 percent, and can be redeemed monthly with 15 days’ notice. Its custodian is Kingdom Trust.

Pompliano explained that this index fund was structured to give similar exposure to the S&P 500, but with cryptocurrencies. It was launched in partnership with Bitwise Asset Management. Bitwise also manages three other crypto funds, two of which were launched on Wednesday.

The Digital Asset Index Fund tracks the Morgan Creek Bitwise Digital Asset Index. Its 10 constituents as of Aug. 27 are BTC (77.5%), ETH (11.1%), BCH (2.4%), LTC (2.3%), EOS (2.2%), ZEC (1.0%), XMR (1.0%), DASH (0.9%), IOTA (0.7%), and NEM (0.7%).

Buffett Bet 2.0: Asset Manager Wagers Cryptocurrency Fund Will Beat S&P 500

Pompliano was further quoted by Bloomberg as saying:

Bitcoin and crypto assets have been the best-performing asset for the last 10 years … They have beat the S&P 500, and we believe they will continue to do so for the next 10 years.

What do you think of Morgan Creek Digital’s bet? Do you think crypto will outperform the S&P 500? Let us know in the comments section below.


Images courtesy of Shutterstock and Morgan Creek Digital.


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The post Buffett Bet 2.0: Asset Manager Wagers Cryptocurrency Fund Will Beat S&P 500 appeared first on Bitcoin News.

Bitcoin News

TMZ

TMZ Live: Jesse Ventura: I Can Beat Trump in 2020!

November 28, 2018 |

ON TODAY’S SHOW Tekashi69: Caught in Nicki & Cardi B Feud  Kylie Jenner: Cheers on ‘Hubby’ Travis Scott Beto O’Rourke’s Presidential Dreams! Eva Longoria’s Insane Compound for Sale! 

TMZ.com

Cops: Women Beat McDonald’s Manager Over Ketchup

November 15, 2018 |

Police are seeking a woman who pushed, punched, and choked a McDonald’s manager because she wanted ketchup. Police in Santa Ana, California, say the assault took place around 11pm on Oct. 27 when the drive-thru customer entered the restaurant through an employee door and asked for the condiment. Video released…
Newser

MTV Owner’s Streaming Strategy: If You Can’t Beat Them, Feed Them

October 21, 2018 |

Viacom is rebooting MTV’s “The Real World” franchise for Facebook, the latest sign that the cable-TV giant has stopped fighting the growing dominance of digital players like Netflix and is instead producing shows—and soon movies—for them.
WSJ.com: US Business

TMZ

Wiz Khalifa Promises Music Video and 100 Remixes of ‘I’ll Beat Yo Ass!’

October 20, 2018 |

Wiz Khalifa is so jacked up about his song with Tyron Woodley … he’s tellin’ TMZ Sports 100 different versions of it are on the way!!! We got Wiz leaving The Forum on Wednesday night when we brought up the magic words that turned him from…

TMZ.com