Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul class="summary-list"><li>RedBall Acquisition said is in talks with SeatGeek about a potential business combination. </li><li>RedBall Acquisition is a sports-industry-focused SPAC led in part by Oakland A's exec Billy Beane.</li></ul><a href="https://markets.businessinsider.com/stocks/rbac-stock">RedBall Acquisition</a>, a special acquisition purpose company led in part by Oakland A's executive Billy Beane, is in talks about a deal to combine with ticket platform SeatGeek. RedBall's <a href="https://www.globenewswire.com/news-release/2021/10/08/2311364/0/en/RedBall-Acquisition-Corp-Confirms-it-is-in-Discussions.html">statement on Friday</a> confirmed an <a href="https://www.bloomberg.com/news/articles/2021-10-08/billy-beane-s-redball-spac-said-to-near-deal-with-seatgeek?sref=GUP2BhaG">earlier report by Bloomberg</a> about discussions taking place between the SPAC focused on the sports industry and the privately held company whose search engine is used to find and buy tickets for sports events and concerts. Shares of RedBall Acquisition were halted Friday afternoon pending a statement. The stock this year has lost about 9%. A deal, if reached, could be announced as earlier as this week, Bloomberg reported, citing an unnamed source familiar with the matter. "There is no assurance that a definitive agreement will be signed," said RedBall about its discussions with SeatGeek about a "possible" business combination. No potential terms were included in RedBall's statement. RedBall, whose August 2020 IPO raised $575 million, had reportedly been in talks earlier this year to acquire a minority stake in Fenway Sports Group but the discussions ended. Fenway Sports Group runs the Boston Red Sox baseball team and Liverpool Football Club, a soccer team that's part of England's Premier League. RedBall's management team includes Beane, whose use of analytical data to hire new players for the Oakland A's slim budget is chronicled in Michael Lewis' 2003 book "Moneyball" about baseball economics. The book was later turned into a 2011 movie starring Brad Pitt as Beane.RedBall is also run by Gerald Cardinale, who after 20 years as a partner at Goldman Sachs founded investment firm RedBird. He also co-created the Yankees Entertainment &amp; Sports Network, or YES.

A SPAC run by Billy Beane of 'Moneyball' fame is in talks to merge with SeatGeek

<ul class="summary-list"><li>A merger deal between <keyword id="14091225" type="UNKNOWN" weightage="60" keywordseo="seatgeek" source="Orion">SeatGeek</keyword> and the <keyword id="11908250" type="UNKNOWN" weightage="60" keywordseo="spac" source="Orion">SPAC</keyword> run in part by famed baseball manager Billy Beane has been terminated.</li><li>SeatGeek and <keyword id="14091224" type="UNKNOWN" weightage="60" keywordseo="redball-acquisition" source="Orion">RedBall Acquisition</keyword> cited market volatility as a reason for ending the agreement. </li></ul>A merger deal between <a href="https://markets.businessinsider.com/stocks/rbac-stock?utm_medium=ingest&amp;utm_source=markets">RedBall Acquisition</a>, a special acquisition purpose company led in part by Oakland A's executive Billy Beane, and ticket platform SeatGeek has ended, the companies said Wednesday. "[Given] current market conditions, it was mutually determined that the best option for all parties at this time is for SeatGeek to remain private," Andy Gordon, a partner at investment firm RedBird Capital, said on behalf of RedBall <a href="https://www.globenewswire.com/en/news-release/2022/06/01/2454285/0/en/RedBall-Acquisition-Corp-and-SeatGeek-Inc-Mutually-Agree-to-Terminate-Business-Combination-Agreement-due-to-Unfavorable-Market-Conditions.html">in a statement</a>.The SPAC <a href="https://markets.businessinsider.com/news/stocks/billy-beane-redball-spac-talks-merge-seat-geek-moneyball-tickets-2021-10">said in October</a> it was in talks with SeatGeek about a potential deal. RedBall shares were up 6% during Wednesday's session, trading near $10. "Unfavorable" market conditions are "particularly impacting growth technology companies," the companies said Wednesday. SPACs, or special purpose acquisition companies, usually merge with high-growth tech companies aiming to avoid the traditional IPO process.The RedBall termination comes at a time when the broader stock market has been rocked lower by recession fears and a fast pickup in bond yields. Tech stocks as measured by the Nasdaq Composite have tumbled more than 20% this year, hitting bear-market territory, as increased borrowing costs hurt earnings potential. Meanwhile, the boom in SPACs in 2020 and 2021 has slowed this year in the face of <a href="https://markets.businessinsider.com/news/stocks/sec-spac-rules-disclosures-ipo-regulation-blank-check-companies-proposal-2022-3">increased scrutiny by the Securities and Exchange Commission</a>. There have been 67 SPAC initial public offerings in 2022, down from 613 in 2021 and 248 in 2020, <a href="https://www.spacresearch.com/">according to SPAC Research</a>.

SPAC volatility forces SeatGeek and Billy Beane of 'Moneyball' fame to shelve merger plans as the boom in blank-check deals fades

<ul class="summary-list"><li>"Moneyball" star Billy Beane said Warren Buffett and Charlie Munger's lessons apply to baseball.</li><li>The ex-Oakland Athletics manager excelled at finding undervalued players and besting richer teams.</li></ul>Warren Buffett and Charlie Munger preach a "value investing" philosophy centered on identifying and buying underpriced assets. Billy Beane of "Moneyball" fame says their teachings are equally relevant in the ballpark."If you look at everything Warren Buffett and Charlie Munger say, if you take the word 'investing' out and put 'baseball' in, every sentence still works," Beane said at the Tipalti Illuminate tech conference last week, <a href="https://www.bizjournals.com/sanfrancisco/news/2022/09/21/billy-beane-oakland-baseball-data-warren-buffett.html">according to The San Francisco Business Times</a>.<h2>Spotting bargains</h2>Beane, the former general manager of the Oakland Athletics, pioneered the use of statistical analysis in baseball. He and his team realized that stats such as foot speed, fastball velocity, and batting average were overvalued by other teams. Meanwhile, older, injured, or unproven players were undervalued by the market.Those revelations allowed the Oakland A's to bring in misfits and recruit virtually unknown players on the cheap — and then outperform its richer rivals, despite having a fraction of their payroll. Author Michael Lewis profiled Beane in "Moneyball," and Brad Pitt played the baseball executive in the movie adaptation of the book.As for Buffett and Munger, they're the chairman and vice-chairman of Berkshire Hathaway — a $600 billion conglomerate that owns business such as Geico and See's Candies, and holds multibillion-dollar stakes in public companies such as Apple and Coca-Cola.<h2>A pair of value investors</h2>Both Beane and Buffett prize hard numbers, have the patience and discipline to resist overpaying, and possess the conviction and contrarian steak required to not conform or cave under pressure.The two men excel at analyzing prospective investments to determine their future value, and aren't afraid to back their bets with millions of dollars."Moneyball is really a value-investing book," Seth Klarman told David Rubenstein in an interview for the Carlyle cofounder's newly released book, "How to Invest: Masters on the Craft.""It's about finding value in athletes, in baseball players — but those principles apply across areas," the billionaire investor and Baupost Group CEO said.Klarman has been <a href="https://markets.businessinsider.com/news/stocks/seth-klarman-baupost-warren-buffett-bought-google-facebook-stock-2020-5-1029205652#:~:text=Hedge%2Dfund%20billionaire%20Seth%20Klarman,a%20financial%20filing%20this%20week.?utm_medium=ingest&amp;utm_source=markets">heralded</a> as "the next Warren Buffett," including by the Berkshire chief himself.His Baupost fund <a href="https://markets.businessinsider.com/news/stocks/seth-klarman-baupost-400-million-bill-ackman-pershing-square-spac-2020-11-1029805206">holds a stake</a> in RedBall Acquisition Corp., a special-purpose acquisition company (SPAC) co-chaired by Beane, which <a href="https://markets.businessinsider.com/news/stocks/boston-red-socks-spac-public-offering-fails-billy-beane-2021-1-1030004985">reportedly tried and failed</a> to take the Boston Red Sox public in late 2020 and early 2021.Beane is clearly a longtime admirer and acolyte of Buffett. "The hardest thing to find is a good investment," he tells Lewis in "Moneyball," quoting the legendary investor.Moreover, Buffett evolved a value-investing framework established by his college professor and former boss, Benjamin Graham. Beane got his grounding in baseball stats or "sabermetrics" from Bill James, a data whiz and sports historian."We're like Warren Buffett and that guy right there is Benjamin Graham," Beane <a href="https://www.wsj.com/articles/SB105897090921682800">once told</a> Lewis, pointing to the stack of books written by James on the author's lap.Read more: <a href="https://www.businessinsider.com/warren-buffett-life-lessons-ariel-hsing-table-tennis-olympics-champion-2021-11">Table tennis champion Ariel Hsing has been friends with Warren Buffett for more than a decade. She lays out 7 life lessons from the legendary investor, and reveals how being an Olympian helps her at work.</a>

'Moneyball' manager Billy Beane says Warren Buffett's investing lessons apply to baseball too - and Seth Klarman agrees

<ul><li><keyword id="1473616" type="PERSON" weightage="60" keywordseo="Seth-Klarman">Seth Klarman</keyword>'s <keyword id="1473613" type="COMPANY" weightage="60" keywordseo="Baupost-Group">Baupost Group</keyword> is betting that billionaire investor <keyword id="1150206" type="PERSON" weightage="60" keywordseo="Bill-Ackman">Bill Ackman</keyword> and "Moneyball" star <keyword id="784180" type="PERSON" weightage="60" keywordseo="Billy-Beane">Billy Beane</keyword> can make shrewd acquisitions in the coming months.</li><li>The billionaire's hedge fund disclosed in a regulatory filing that it held a $400 million stake in Ackman's special-purpose acquisition vehicle or "<keyword id="1817616" type="ORGANIZATION" weightage="60" keywordseo="SPAC">SPAC</keyword>," <keyword id="9575100" type="UNKNOWN" weightage="60" keywordseo="pershing-square-tontine">Pershing Square Tontine</keyword>, at the end of September.</li><li>Baupost also revealed a $52 million position in Redball Acquisition Corp., another SPAC that is co-chaired by Beane and reportedly held talks to buy the Boston Red Sox in October.</li><li>Klarman has been touted as "the next <keyword id="6358963" type="DEFINITION" weightage="60" keywordseo="Warren-Buffett">Warren Buffett</keyword>" because he also follows a value-investing approach.</li><li><a href="https://www.businessinsider.com/international?r=US&amp;IR=TIR=T">Visit Business Insider's homepage for more stories</a>.</li></ul>A billionaire investor heralded as "<a href="https://markets.businessinsider.com/news/stocks/seth-klarman-baupost-warren-buffett-bought-google-facebook-stock-2020-5-1029205652#:~:text=Hedge%2Dfund%20billionaire%20Seth%20Klarman,a%20financial%20filing%20this%20week.">the next Warren Buffett</a>" handed cash to hedge-fund manager Bill Ackman and "Moneyball" star Billy Beane last quarter, backing the pair to strike lucrative deals in the coming months.Seth Klarman's Baupost Group revealed in a <a href="https://www.sec.gov/Archives/edgar/data/1061768/000156761920019585/0001567619-20-019585-index.htm">regulatory filing</a> that as of September 30, it held a roughly $400 million stake in Ackman's Pershing Square Tontine, a special-purpose acquisition vehicle or "SPAC" that went public in July.Ackman <a href="https://markets.businessinsider.com/news/stocks/bill-ackman-blank-check-spac-ipo-tontine-raise-record-market-2020-7-1029415963">raised a record $4 billion</a> from the listing <a href="https://markets.businessinsider.com/news/stocks/bill-ackman-spac-psth-pershing-tontine-targets-buy-blank-check-2020-10-1029665772#">to target</a> "mature unicorns", or buy a minority stake in a company valued between $10 billion and $15 billion.Read More: <a href="https://www.businessinsider.com/inside-story-on-billionaire-seth-klarmans-devoted-following-2020-4?r=US&amp;IR=TIR=T">Seth Klarman has a rabid following that's stuck with him through thick and thin. Here's why fans of the publicity-shy billionaire investor are so obsessed.</a>Klarman's hedge fund also disclosed a $52 million stake in RedBall Acquisition Corp., another "blank-check" company that counts Beane as its co-chairman.As general manager of the Oakland Athletics, Beane pioneered the use of statistics in baseball to identify and recruit undervalued players. Author Michael Lewis told his story in "Moneyball" and he was portrayed by Brad Pitt in the movie adaptation.Baupost declined a request for comment from Business Insider.Klarman's nickname is the "Oracle of Boston" because he follows Buffett's signature strategy of <keyword id="35175" type="ORGANIZATION" weightage="60" keywordseo="investing">investing</keyword> in undervalued stocks. He may have backed Ackman because the Pershing Square chief also embraces some value-investing principles.Read More: <a href="https://www.businessinsider.com/bauposts-klarman-to-investors-8-permanent-changes-from-the-virus-2020-7?r=US&amp;IR=TIR=T">Here are the 8 'long-lasting implications' of the pandemic hedge-fund billionaire Seth Klarman lays out to investors in a new letter</a>Meanwhile, RedBall has held talks to buy Red Sox-owner Fenway Sports, <a href="https://www.wsj.com/articles/red-sox-owner-in-talks-for-deal-with-redball-acquisition-11602286661">The Wall Street Journal reported</a> in October, so Klarman's Boston pride may be a factor in that investment.Baupost also revealed a $30 million stake in Broadstone Acquisition Corp., a blank-check company targeting investments in the UK and Europe, suggesting Klarman sees SPACs as valuable additions to his portfolio.The total value of Baupost's portfolio rose by about 16% to $9.3 billion last quarter, despite the fund trimming several holdings including Alphabet, Facebook, HP, and eBay.Read more: <a href="https://www.businessinsider.com/stock-picks-to-buy-cheap-companies-value-economic-rebound-goldman-2020-11" target="_blank" rel="noopener">GOLDMAN SACHS: Buy these 20 deeply underpriced stocks now before the recovery helps them rebound and crush Wall Street's low expectations in 2021</a>

A billionaire investor dubbed 'the next Warren Buffett' just revealed a $400 million bet on Bill Ackman's SPAC

<ul><li>Billy Beane has struck out in his quest to take the <keyword id="374669" type="ORGANIZATION" weightage="60" keywordseo="Boston-Red-Sox">Boston Red Sox</keyword> public via a <keyword id="1817616" type="ORGANIZATION" weightage="60" keywordseo="SPAC">SPAC</keyword>, according to an Axios report.</li><li>Beane had formed the RedBall Acquisition SPAC and raised $575 million for a potential deal.</li><li>RedBall had been seeking to acquire a 20% to 25% stake in Fenway Sports Group at a $8 billion valuation.</li><li><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestsource=markets&amp;utm_medium=ingest" target="_blank" rel="noopener noreferrer">Sign up here for our daily newsletter, 10 Things Before the Opening Bell</a>.</li></ul>Boston Red Sox fans will have to continue to wait to buy a share in their favorite baseball team after Billy Beane failed to strike a deal to take the team public, according to <a href="https://www.axios.com/red-sox-public-spac-no-deal-72eb6b14-0844-4156-b03f-3456217083e4.html">an Axios report.</a>Beane is leading the <a href="https://markets.businessinsider.com/stocks/rbac-stock">RedBall Acquisition SPAC</a>, a "blank-check" company that raised $575 million in its IPO last Summer.RedBall had been in acquisition talks with the parent company of the Boston Red Sox and Liverpool FC, Fenway Sports Group, according to Axios. RedBall was seeking to acquire between a 20% to 25% stake in the company at a valuation of around $8 billion.The deal, which would have been funded by the IPO proceeds of the SPAC, plus up to $950 million raised by a private equity firm and outside investors, fell apart because RedBall was unable to raise enough outside cash at the asking price, Axios reported.The Red Sox were acquired by a group of investors back in 2002 for $380 million. Today, their value is estimated to be $3.3 billion, according to a <a href="https://www.forbes.com/sites/kurtbadenhausen/2020/07/31/the-worlds-most-valuable-sports-teams-2020/?sh=63e5ab63c749">report from Forbes.</a> That valuation does not include Liverpool or other assets of Fenway Sports Group that include a NASCAR team and sports network. RedBall will now set its sights on other acquisition targets, potentially in pro soccer or gaming, Axios said. Read More: <a href="https://www.businessinsider.com/spac-investing-strategy-3-blank-check-firm-picks-spcx-etf-2021-1?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener noreferrer">This actively-managed SPAC ETF amassed $60 million assets within a month of launching. Its founder breaks down how to pick blank-check firms - and shares 3 to watch in 2021</a>

Billy Beane-led SPAC fails to strike deal to take Boston Red Sox public, report says

Hola, Aaron Weinman here. Let's talk about SPACs.If this was forwarded to you,<a href="https://www.businessinsider.com/subscription/newsletter/10-things-on-wall-street"> sign up here</a>. Download Insider's app <a href="https://www.insider.com/app">here</a>.<a href="https://www.businessinsider.com/better-ex-coo-says-pushed-out-ceo-vishal-garg-lawsuit-2022-6"></a>1. SPACs are sputtering. More than 10% of companies that merged with SPACs in 2020 and 2021 reckon they'll go bust. Nineteen firms have canceled SPAC mergers this year.Investors are more discerning over where they park their cash, and regulators are sharpening their pencils on how SPAC targets go public, leading banks to spurn them.Take the SoftBank-banked mortgage lender Better.com. It's <a href="https://www.businessinsider.com/better-announces-voluntary-layoffs-to-all-remaining-employees-2022-4">laid off so many thousands of staff</a> in the last five months, you'd be forgiven for thinking you were <a href="https://www.youtube.com/watch?v=mae3X3l9mI0">watching Ari Gold</a> of "Entourage" fame.Now, Sarah Pierce, Better's former executive VP for sales and operations, alleged in a lawsuit that Better deceived investors to keep them onboard a merger with Aurora Acquisition, a SPAC sponsored by Novator Capital. (Better said the claims are without merit.) SeatGeek is another casualty of the downturn. Seatgeek and RedBall, a SPAC led by former Goldman Sachs partner Gerry Cardinale and "Moneyball's" Billy Beane, "<a href="https://www.globenewswire.com/news-release/2022/06/01/2454285/0/en/RedBall-Acquisition-Corp-and-SeatGeek-Inc-Mutually-Agree-to-Terminate-Business-Combination-Agreement-due-to-Unfavorable-Market-Conditions.html">mutually agreed</a>" to kill a merger last week due to market conditions. But people on the inside said neither were willing to compromise on a revised company valuation or amend the "sponsor promote."The "promote" is a lucrative fee for the SPAC sponsor after it seals a merger. Sponsors are reluctant to reduce what they earn on their "promotes," which usually amounts to a fifth of a SPAC's stock, one person said.With SPACs on the fritz, bankers are fine-tuning their résumés."Layoffs are coming," one banker told Insider. "Pipelines are down. Companies are pushing plans out to 2023."<a href="https://www.businessinsider.com/better-ex-coo-says-pushed-out-ceo-vishal-garg-lawsuit-2022-6">Here's the latest on Better's lawsuit</a><a href="https://www.businessinsider.com/better-ex-coo-says-pushed-out-ceo-vishal-garg-lawsuit-2022-6">.</a> And for more on SPACs gone awry, <a href="https://www.businessinsider.com/softbank-view-inc-rao-mulpuri-spac-investigation-2022-6">check out this dive into the SPAC era's worst-ever deal.</a>In other news:<a href="https://www.businessinsider.com/junior-investment-bankers-losing-power-control-wall-street-economic-downturn-2022-6"></a><div type="image" title="Man wearing stuff holding onto cliff edge" height="4723" width="6297" msid="92106494" hostid="261"></div>2. Wall Street's minions are losing power. Since the pandemic hit and bankers retreated home, the junior staff were showered with raises and perks like Pelotons. But the slowdown in dealmaking could reverse some of the juniors' hard-fought victories. <a href="https://www.businessinsider.com/junior-investment-bankers-losing-power-control-wall-street-economic-downturn-2022-6">Here's how the recent decline has observers spooked</a>.3. State Street is planning a takeover of Credit Suisse, <a href="https://www.reuters.com/markets/deals/credit-suisse-shares-spike-reported-state-street-takeover-interest-2022-06-08/">as first reported by Inside Paradeplatz</a>. The Swiss bank's shares jumped after the report, a reversal of fortunes after warnings of a second-quarter loss. State Street declined to comment on the report, but some analysts say the deal is "<a href="https://www.fnlondon.com/articles/state-street-credit-suisse-deal-highly-unlikely-say-sceptical-analysts-20220608">highly unlikely</a>." 4. Cashed-up Coatue has got a wish list of stocks. Here's 13 tech names the hedge fund thinks have <a href="https://www.businessinsider.com/coatue-tech-stock-picks-bargains-tsla-amzn-pypl-2022-6">fallen victim to indiscriminate selling</a>.5. Goldman Sachs' tech execs are all about the "polycloud" approach. The bank's co-CIOs detailed Goldman's cloud strategy and <a href="https://www.businessinsider.com/goldman-sachs-tech-execs-detail-banks-public-cloud-polycloud-strategy-2022-6">compared being "cloud agnostic" to the Flat Earth theory</a>.6. Staying on Goldman, the Wall Street bank lost a chief saleswomen in its asset-management arm, according to Bloomberg. Heather Miner, who earned a partner title in 2018, <a href="https://www.bloomberg.com/news/articles/2022-06-08/goldman-loses-chief-saleswoman-at-asset-manager-to-buyout-firm?utm_medium=email&amp;utm_source=newsletter&amp;utm_term=220608&amp;utm_campaign=author_17510379&amp;sref=ipW5reFz">is joining private-equity shop Advent International</a>.7. The UK's Zopa is bustling into the BNPL space. After teasing out a potential IPO, the neobank's CEO also affirmed that <a href="https://www.businessinsider.com/zopa-ceo-spoke-at-money2020-about-its-market-services-2022-6">it's waiting for "the right moment" to go public</a>.8. JPMorgan's growth-equity arm invested in Codat's $100 million Series C round. The company constructs tech that connects fintechs with banks. <a href="https://www.businessinsider.com/jpmorgan-fintech-consumer-acquisitions-investments-competition-jamie-dimon">Here's an overview of JPMorgan's key fintech deals</a>.9. Decimal, an accounting fintech, raised $9 million in a seed round. Chief Executive Matt Tait told Insider that there's ample opportunity in "the boring stuff," when it comes to running a business. <a href="https://www.businessinsider.com/accounting-ops-fintech-decimal-pitch-deck-raise-9-million-seed-2022-6">Check out the 13-page pitch deck Decimal used to snare its latest funding</a>.10. Coinbase pulled back a number of job offers. Here's an essay from Ashutosh Ukey, a 23-year-old software engineer, who <a href="https://www.businessinsider.com/coinbase-rescind-job-offer-layoffs-hiring-freeze-work-visa-2022-6">spoke to Insider after having his offer from the crypto exchange withdrawn</a>.Done deals:<ul><li>The NFL's Denver Broncos has <a href="https://www.nytimes.com/2022/06/08/sports/football/denver-broncos-walton-penner-family-auction-sale.html?campaign_id=4&amp;emc=edit_dk_20220608&amp;instance_id=63492&amp;nl=dealbook&amp;regi_id=162318335&amp;segment_id=94536&amp;te=1&amp;user_id=0162ea8283becc84919a0c458649e40f">agreed to sell</a> the team to Rob Walton and members of the Walton and Penner families.</li><li>Yieldstreet, a digital alternative investor, has <a href="https://www.crowdfundinsider.com/2022/06/192067-yieldstreet-tops-100-million-in-structured-notes-sold-reveals-new-partnership-with-luma/">partnered with fintech platform Luma Financial Technologies</a></li></ul>Keep updated with the latest business news throughout your day by checking out <a href="https://link.chtbl.com/therefresh">The Refresh from Insider</a>, a dynamic audio news brief. <a href="https://link.chtbl.com/therefresh">Listen here.</a>Curated by Aaron Weinman in New York. Tips? Email <a href="mailto:aweinman@insider.com">aweinman@insider.com</a> or tweet <a href="https://twitter.com/aaronw11">@aaronw11</a>. Edited by Hallam Bullock (tweet <a href="https://twitter.com/hallam_bullock">@hallam_bullock</a>) in London.

Wall Street: SPACs gone bad

<ul><li>The former baseball superstar <keyword id="23712" type="PERSON" weightage="60" keywordseo="Alex-Rodriguez">Alex Rodriguez</keyword> is joining the <keyword id="1817616" type="ORGANIZATION" weightage="60" keywordseo="SPAC">SPAC</keyword> craze and launching one of his own.</li><li>Rodriguez is set to lead Slam Corp., which is seeking to raise $575 million in its public debut.</li><li>Slam will seek to acquire a firm in sectors including sports, media, and wellness, a filing said.</li><li><a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingestts&amp;utm_medium=ingest" target="_blank" rel="noopener">Sign up here for our daily newsletter, 10 Things Before the Opening Bell</a>.</li></ul>The former baseball superstar Alex Rodriguez is the latest high-profile name to throw his hat in the SPAC ring by launching a "blank check" company called Slam Corp., <a href="https://www.sec.gov/Archives/edgar/data/1838162/000119312521028736/d941708ds1.htm?source=content_type%3Areact%7Cfirst_level_url%3Anews%7Csection%3Amain_content%7Cbutton%3Abody_link#rom941708_1">a filing with the Securities and Exchange Commission said</a>.SPACs - special-purpose acquisition companies - are investment vehicles that raise funds from investors that are then used to acquire a private company and take it public.The filing said that Rodriguez would lead Slam as its CEO and that it would seek an acquisition within the "sports, media, entertainment, health and wellness and consumer technology sectors.""We will seek to acquire a multibillion-dollar asset with a leading market position in an attractive industry," the filing said.Unlike Billy Beane's <a href="https://markets.businessinsider.com/stocks/rbac-stock">Redball Acquisition Corp.</a>, Slam is not seeking to acquire a professional sports team, the filing said. Redball recently <a href="https://markets.businessinsider.com/news/stocks/boston-red-socks-spac-public-offering-fails-billy-beane-2021-1-1030004985">failed in an attempt to take the parent company of the Boston Red Sox public</a>.According to the filing, Slam is seeking to raise up to $575 million with the sale of stock and warrants at $10 per share.SPACs have been all the rage since last year as the COVID-19 pandemic upended the traditional IPO roadshow. According to <a href="https://spacinsider.com/stats/">data from SPAC Insider</a>, 248 blank-check companies raised $83 billion in 2020, while 118 SPACs had raised $35 billion so far in 2021.Even <a href="https://markets.businessinsider.com/news/stocks/wilbur-ross-forms-345-million-spac-larry-kudlow-trump-officials-2021-2-1030040114">former Trump administration officials are launching one</a>: Wilbur Ross, the former commerce secretary, is heading a new SPAC with Larry Kudlow as a director.Slam will trade on the Nasdaq under the ticker symbol SLAM once the deal is completed, the filing said.Read more: <a href="https://www.businessinsider.com/crypto-bitcoin-investing-strategy-voyager-dogecoin-cryptocurrency-interest-stephen-ehrlich-2021-2?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener noreferrer">Investors are flocking to trade Dogecoin and other hot digital tokens on Voyager, a platform with no Robinhood-style restrictions. Its CEO says Bitcoin will hit $100,000 this year - and shares 3 other cryptocurrencies to watch.</a>

Former baseball superstar Alex Rodriguez files to form $575 million SPAC as IPO craze continues

Welcome to 10 Things Before the <keyword id="11907548" type="UNKNOWN" weightage="60" keywordseo="opening-bell" source="Orion">Opening Bell</keyword>.If this was forwarded to you, <a href="https://newsletter.businessinsider.com/join/4np/10-things-opening-bell">sign up here.</a> Plus, download Insider's app for news on the go - <a href="https://apps.apple.com/app/apple-store/id554260576?pt=385758&amp;ct=06292021_newsletters&amp;mt=8amp;mt=8">click here for iOS</a> and<a href="https://play.google.com/store/apps/details?id=com.freerange360.mpp.businessinsider"> here for Android</a>.Let's get into it.1. Global stocks falter as investors fret about inflation and corporate earnings. Price pressures are rising, while another missed bond payment by Chinese property giant Evergrande has revived contagion jitters. <a href="https://markets.businessinsider.com/news/stocks/stock-markets-today-futures-inflation-energy-evergrande-hit-risk-appetite-2021-10">See the latest moves on the market</a>.2. Bank of America says supply chain issues have made the upcoming earnings season a "make or break" moment for investors. Companies must deal with backlogs at ports on the West Coast and dole out higher pay to mitigate workforce shortages during the third quarter. <a href="https://markets.businessinsider.com/news/stocks/q3-earnings-season-outlook-supply-chain-wage-inflation-headwinds-bofa-2021-10">Here's how the firm sees things shaking out.</a>3. BlackRock's head of iShares investment strategy thinks 'stagflation' concerns are overblown. Inflation is a near-term threat, but investors shouldn't bet on a return to the landscape of the 1970s, said Gargi Chaudhuri, whose division oversees $2.3 trillion in assets. <a href="https://www.businessinsider.com/investing-strategy-stagflation-inflation-fears-sectors-stocks-federal-reserve-blackrock-2021-10">She explained two key market themes that will define the upcoming earnings season.</a>4.Earnings on deck: Fastenal Co., Pinnacle Financial Partners, and SHIFT Inc., all <a href="https://markets.businessinsider.com/earnings-calendar">reporting.</a> 5. Goldman Sachs cut its US GDP forecast for a 3rd straight month. The firm pointed to the blow that COVID-19 has dealt to consumer spending, as well as the global semiconductor shortage that it said likely "won't improve." <a href="https://markets.businessinsider.com/news/stocks/us-gdp-forecast-goldman-sachs-cut-2021-covid-chip-shortage-2021-10">Here's why the "virus drag" could continue to plague the economy.</a>6. Starbucks is set to surge 21% on the back of its booming loyalty program. Bank of America analysts see the coffee mogul fending off competition and growing fast. <a href="https://markets.businessinsider.com/news/stocks/starbucks-stock-price-outlook-loyalty-program-drive-growth-defend-competition-2021-10">Get the numbers on how Starbucks has dominated the coffee business.</a>7. A SPAC run by 'Moneyball' star Billy Beane is in talks to merge with SeatGeek. Sports-industry-focused SPAC Redball Acquisition is in talks with SeatGeek about a potential business combination, and Oakland A's exec is in the mix. <a href="https://markets.businessinsider.com/news/stocks/billy-beane-redball-spac-talks-merge-seat-geek-moneyball-tickets-2021-10">The deal could be announced as early as this week. </a>8. Wedbush says Palo Alto Networks could rise 22% amid increased government spending to counter cyber threats. As the federal government puts more money into cybersecurity, analysts anticipate consistent growth in the stock going into the next year. <a href="https://markets.businessinsider.com/news/stocks/palo-alto-networks-stock-price-outlook-government-spend-cyber-security-2021-10">See Wedbush's breakdown.</a>9. A 32-year-old CEO who built a $5 billion crypto startup shared his thoughts on the digital asset landscape. He explained the need for layer-two networks, as they bring scalability to layer one blockchains like bitcoin or ethereum. <a href="https://www.businessinsider.com/defi-investing-crypto-bullish-blockchain-layer-two-altcoin-peter-smith-2021-10">He shared which segment of DeFi he sees having the most potential.</a>10. Warren Buffett expert Robert Hagstrom broke down the key elements of the investor's "ultimate money mind." Buffett didn't buy stocks last spring because, according to Hagstrom, he had concerns about the pandemic. <a href="https://www.businessinsider.com/warren-buffett-berkshire-hathaway-ultimate-money-mind-acquisitions-robert-hagstrom-2021-10">See why Hagstrom doesn't anticipate Buffett making another elephant-sized acquisition.</a>Compiled by Phil Rosen. Feedback? Email <a href="mailto:prosen@insider.com">prosen@insider.com</a> or tweet <a href="https://twitter.com/philrosenn">@philrosenn</a>.Sign up for <a href="https://www.businessinsider.com/subscription/newsletter">more Insider newsletters here</a>.

10 things before the opening bell

<ul><li>Billionaire investor <keyword id="1473616" type="PERSON" weightage="60" keywordseo="Seth-Klarman">Seth Klarman</keyword> warns stimulus and interest rates are masking market risks.</li><li>The Baupost chief compared investors to "frogs in water that is slowly being heated to a boil."</li><li>Klarman added that <keyword id="107096" type="COMPANY" weightage="60" keywordseo="Tesla">Tesla</keyword> stock has surged "seemingly beyond all reason."</li><li><a href="https://www.businessinsider.com/">Visit Business Insider's homepage for more stories</a>.</li></ul>A billionaire investor heralded as "the next <keyword id="6358963" type="DEFINITION" weightage="60" keywordseo="Warren-Buffett">Warren Buffett</keyword>" blasted the Federal Reserve and Treasury in a private letter this week, accusing the duo of disrupting the stock market and putting investors at risk.Seth Klarman told clients of his Baupost hedge fund that investors are behaving as if risks have "simply vanished" due to rock-bottom interest rates and wave after wave of government stimulus, <a href="https://www.ft.com/content/9c3ecb09-c4bd-4066-a462-af496725105d">the Financial Times reported</a>.Federal interventions to buttress growth and reduce unemployment have also made it tricky to assess the economic health of the country, Klarman said."Trying to figure out if the economy is in recession is like trying to assess if you had a fever after you just took a large dose of aspirin," he said, according to the Financial Times."But as with frogs in water that is slowly being heated to a boil, investors are being conditioned not to recognize the danger," he added.Read more: <a href="https://www.businessinsider.com/stock-market-bubble-crash-tech-stocks-bitcoin-overextended-jim-rogers-2021-1" target="_blank" rel="noopener">'I have seen this movie before': Legendary investor Jim Rogers unloads on the bubbles he says are forming across markets, particularly in big tech stocks and bitcoin - and shares 4 alternatives he would buy for his kid over the next decade</a>Klarman highlighted <a href="https://markets.businessinsider.com/stocks/tsla-stock">Tesla</a> as an example of how heady <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> have become. Elon Musk's electric-vehicle company has seen its shares skyrocket more than 850% since the start of last year, and now commands a market capitalization north of $800 billion.The "barely profitable" automaker's stock has surged "seemingly beyond all reason," Klarman said.Warren Buffett himself has tapped the Baupost boss as his spiritual successor. When a college student asked the <keyword id="6362665" type="ORGANIZATION" weightage="60" keywordseo="berkshire-hathaway">Berkshire Hathaway</keyword> CEO in 1992 who might be the next Buffett, he swiftly replied "Seth Klarman," <a href="https://www.thestreet.com/opinion/here-are-the-alarming-signs-the-stock-market-is-overvalued-13996930" target="_blank" rel="noopener">according to the professor teaching the class</a>.Klarman and his team have been <a href="https://www.businessinsider.com/warren-buffett-berkshire-hathaway-experts-analyze-strategy-caution-deals-2020-10?r=US&amp;IR=TIR=T">more adventurous than Buffett</a> in recent months. Baupost's <a href="https://markets.businessinsider.com/news/stocks/seth-klarman-baupost-400-million-bill-ackman-pershing-square-spac-2020-11-1029805206">latest portfolio update</a> revealed a $400 million stake in Bill Ackman's special-purpose acquisition vehicle, Pershing Square Tontine, as well as a $52 million position in Redball Acquisition Corp, another SPAC that is co-chaired by "Moneyball" star Billy Beane.On the other hand, Baupost slashed its stakes in Google-parent Alphabet and Facebook in the second and third quarters of 2020, after <a href="https://markets.businessinsider.com/news/stocks/seth-klarman-baupost-warren-buffett-bought-google-facebook-stock-2020-5-1029205652">establishing those positions</a> in the first quarter. Those moves suggest Klarman is concerned those technology <keyword id="6354298" type="DEFINITION" weightage="60" keywordseo="Stocks">stocks</keyword> are outpacing their prospects.Read more: <a href="https://www.businessinsider.com/stock-picks-to-buy-us-semiconductor-sector-growth-outlook-bofa-2021-1" target="_blank" rel="noopener">Bank of America says to buy these 16 semiconductor stocks as the US industry is poised to quadruple its growth rate of the past 3 years</a>

You Searched For "billy beane redball" and got 9 results

A SPAC run by Billy Beane of 'Moneyball' fame is in talks to merge with SeatGeek

Carla Mozée

SPAC volatility forces SeatGeek and Billy Beane of 'Moneyball' fame to shelve merger plans as the boom in blank-check deals fades

Carla Mozée

'Moneyball' manager Billy Beane says Warren Buffett's investing lessons apply to baseball too - and Seth Klarman agrees

Theron Mohamed

A billionaire investor dubbed 'the next Warren Buffett' just revealed a $400 million bet on Bill Ackman's SPAC

Theron Mohamed

Billy Beane-led SPAC fails to strike deal to take Boston Red Sox public, report says

Matthew Fox

Wall Street: SPACs gone bad

Aaron Weinman

Former baseball superstar Alex Rodriguez files to form $575 million SPAC as IPO craze continues

Matthew Fox

10 things before the opening bell

Phil Rosen

Billionaire investor Seth Klarman lambasts the Fed for distorting markets - and says Tesla's stock has surged 'seemingly beyond all reason'

Theron Mohamed

Popular Keywords

Buying Guides