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- February 9th - This Week in Alternative Investments
February 9th - This Week in Alternative Investments
Adam Katz
February 09, 2024
This issue is brought to you by Vint, who lets you diversify your portfolio with fine wine and spirits.
Headlines
Bite-sized market updates
Santa Barbara is the country’s top emerging RE market
Global venture capital investment is up
78% of institutional traders don’t want crypto
KKR see trillions of retail investment going to alts
Plus: Mark Knopfler’s $11 million guitar auction, Adam Neumann’s return, a $20 million Monet, and more.
Performance
Bitcoin | Card Ladder 50 |
Thomson-Reuters VC Index | FHFA House Price Index - Nov. |
Partner
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Smart Humans Podcast
In this episode, Slava Rubin talks with The Fund's Jenny Fielding about angel investing, believing in yourself, and innovation going global.
Market Updates
Santa Barbara, California, ranked first in the WSJ/Realtor.com rankings of emerging real estate markets. However, nearly all the other cities in the top ten are in the Midwest, as affordability in that region remains strong. The second-ranked city is Jefferson City, MO, followed by Canton, OH, Racine, WI, and Oshkosh, WI. The rankings look at the top 300 metro areas in the country and weighs the health of the local real estate market as well as economic and quality of life measures. Anyone considering buying a home, either for their own use or to rent, should peruse the rankings and use it as one data point of many in considering where to buy property.
Global venture capital investment was over $22 billion in January, a 3.8% annual gain. The number also represented a 8.3% monthly gain over December as 2024 got off to a strong start, leading to optimism that the down market of 2023 is in the rearview mirror. On the flip side, deal count was down 23.7% compared to January 2023, meaning that the average deal size was significantly bigger, suggesting that VC firms may be targeting bigger deals that they perceive are safer. Tech stayed hot, as the technology, media and telecommunications sector received 53.5% of funding last month, followed by healthcare (14.5%) and industrials (11.9%).
A JP Morgan survey of traders found that 78% have no plans to trade crypto in the next five years. The survey of over 4,000 institutional traders found that 9% are currently trading and 12% are planning to in the next five years. These numbers are despite the recent debut of Bitcoin ETFs which make it easier for traders to get exposure to the cryptocurrency without having to take custody of it. The survey also indicates that AI has overtaken blockchain as the hot tech trend, with 61% of respondents choosing it as the most influential technology of the future, compared to just 7% picking blockchain. The bull case for crypto would point to the recent price growth despite resistance from institutions, and that it is a large, untapped market if some of the 78% change their mind.
Learn
Research and insights from the Vincent team
Explore
More stories worth checking out
This guitar sold for $875,000 (Christie’s)
Dire Straits frontman Mark Knopfler sold 120 guitars from his collection for a total of more than $11 million, including a 1959 Vintage Gibson Les Paul Standard which sold for $875,000 - showing the continued demand for high-end music memorabilia.
Former WeWork CEO Adam Neumann, who received a $445 million payout after being fired, wants to buy the bankrupt company back at an undisclosed price.
Monet’s 1897 painting “Matinée sur la Seine” is coming up for auction for the first time in 45 years and is expected to sell for between $15 and $23 million.
Pitchbook’s VC valuation report found that while early-stage and late-stage valuations are down, pre-seed and seed stage prices stayed steady.
Investment management giant KKR expects trillions of retail investor dollars to move into alternative investments in the long-term.
BlackRock’s Bitcoin ETF surpassed the daily volume of rival Grayscale’s ETF for the first time, becoming the most-traded of any Bitcoin ETF.
Delinquency rates for credit cards and auto loans hit 12-year highs, which is important data for both the broader economy and its chances of recession, but also for potential retail private credit investors who need to know defaults are increasing by.
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