CAPITAL Archive

A letter gives a rare glimpse into one of the world’s most secretive — and most successful — hedge funds

There are two types of investing, according to the departing partner of hugely successful and secretive hedge fund Baupost Group: “needle in a haystack investing” and “tide comes in and tide goes out investing.” One type takes rigorous work as you search for a small number of opportunities. The other, “chutzpah.” The partner, Brian Spector, [&hellip

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NY regulator issues first license for bitcoin company

New York state’s financial services regulator has granted a “BitLicense,” its first, to a virtual currency, the agency announced on Tuesday. The license went to Circle Internet Financial, a Boston-based bitcoin startup, the New York Department of Financial Services said. The “BitLicense” is based on the first set of guidelines created by a state specifically [&hellip

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The 11 richest millennials in the world

The 11 wealthiest millennials have quite a bit in common — aside from being rich beyond comprehension. Three of the 11 wealthiest millennials on this list worked at Facebook FB, +0.12%  . Another three made their fortunes in the sharing economy. Seven of the richest people under the age of 35 live in the U.S., [&hellip

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