📈 Stocks / Finance

Einhorn Criticizes Passive Investing for Market Dysfunction

CNBC

David Einhorn, Greenlight Capital president, argues that markets are "broken" due to the dominance of passive investing, which he believes undermines value discovery. He blames passive funds' growth focus for marginalizing value investors, contributing to the decline of professional asset management.

Vaccine Stocks Plunge as RFK Jr. Named Health Secretary

CNN

Shares of vaccine makers like Moderna (-6%), Pfizer (-2%), and BioNTech (-7%) fell after President-elect Trump chose RFK Jr. for health secretary. RFK Jr.'s history of anti-vaccine rhetoric spooked investors, deepening losses for companies already struggling post-pandemic.

Oil prices edge up despite bearish outlook

Yahoo Finance

Oil rose for a third straight day, closing below $69 per barrel, amid a bearish outlook. US gasoline stockpiles hit a 10-year seasonal low, boosting prices, yet the IEA warned of a potential 1 million barrel-a-day surplus next year, capping gains and suggesting a downward trend.

🪙 Crypto

Bitcoin ETF Inflows Soar to $4.7B as Dominance Climbs

CoinDesk

Bitcoin has become the world's seventh-largest asset, surpassing Saudi Aramco. Its market dominance rose to 61.38%, driven by $4.7 billion in ETF inflows over six days. BlackRock's IBIT hit $5 billion in trading volume, highlighting strong demand from spot-driven ETFs over derivatives.

🌎 Global Economy

Geopolitical Fragmentation Reshapes Global FDI

CEPR

A new index reveals geopolitical divides are fragmenting greenfield foreign direct investment (FDI). FDI flows between different blocs, such as Eastern and Western, have decreased by nearly two-thirds, while intra-bloc flows have increased. Western firms are increasingly 'friendshoring' investments.

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