Latest news with #Cowen
Hamilton Spectator
29-05-2025
- Sport
- Hamilton Spectator
Hornets honour players at annual awards banquet
The Alliston Hornets honoured players at the local hockey club's annual awards banquet held at the Alliston Legion on Saturday, May 29. The Hornets had a stellar year, winning 40 games over the regular season and taking only two losses on shoot-outs. Unfortunately, the team's goal of claiming a provincial title this year fell apart when the Hornets lost the Carruthers Division final series to the Orillia Terriers in a series that went five games. The loss was a shock to fans who had followed the Hornets' winning season. Club president Ken Cowen thanked the players for their hard work and dedication, the coaches, trainers, and other club personnel, as well as the volunteers who helped keep the club running. 'The Hornets are a non-profit community team,' Cowen said. 'That means that all the money from sponsors, the fan base, and fundraising events by the team go directly back into the organization.' He noted, 'The costs of hockey go up every year.' Cowen thanked the executive of the club, as well as the staff, including those who do everything from selling tickets to keeping the dressing room clean, with a special nod to Hornets general manager Travis Chapman. 'Our GM Travis Chapman spends hours on the telephone every day looking for players, working out issues, and talking to the PJHL,' Cowen said. The Hornets honoured their graduating players who have completed their junior hockey careers. Graduating players are #11, Jaeden French, #17, Cole Turcotte, and #47, Jacob Holmes. Awards were presented to players for their efforts during this past season. The Rookie of the Year award was presented to Will Hopcraft. Jacob Holmes was named MVP as well as the Best Defenceman. The Dougie Award for team spirit was awarded to Aiden Landers. The Most Improved Player Award was presented to Will Millington. Seth Ronan was honoured as Best Goalie. The Most Sportsmanlike Player Award was presented to Cole Turcotte. Jax Bellwood was named Playoff MVP. The Hornets have announced a new head coach for the 2025/26 season. Dan Schaly, a former professional hockey player and a recent assistant coach with the Innisfil Spartans, will take over coaching duties for the upcoming season.
Time Magazine
20-05-2025
- Business
- Time Magazine
Tyler Cowen
Philanthropic organizations are often mired in bureaucracy that can make the process of applying for funding lengthy and tedious. Tyler Cowen, an economist at George Mason University, is pioneering a different approach. Since 2018, Cowen has run Emergent Ventures, a fellowship and grant program for entrepreneurs working on highly scalable ideas for meaningfully improving society. Applicants answer a handful of questions and get a response in a week or two. To date, the program, which is backed by donors such as Schmidt Futures, has supported over a thousand people—many still in their teens—working on ventures ranging from scientific innovation to personal development. The 2025 cohort includes a University of Chicago research director working on a non-invasive blood glucose monitor and a Vanderbilt University student developing prosthetics and bionic arms. 'I've focused on trying to mobilize talent that otherwise is not discovered or inspired,' says Cowen, who screens most applications Ventures' successes include funding one of the first COVID-19 saliva tests via its Fast Grants program and a prison reform startup that used data analysis to identify over 150,000 safe candidates for early release. With dedicated tracks for applicants in India, Africa and the Caribbean, Ukraine, and Taiwan, grantees have regular meet-ups across the world. Says Cowen, 'Anyone who wins has a direct line to me.'
Business Mayor
12-05-2025
- Business
- Business Mayor
Is altcoin season making a comeback? – THESE signals suggest…
Altcoin season flashed upside momentum build-up as BTC dominance dipped. It was still BTC season per altcoin season index reading, but this could change. The risk-on sentiment in May has significantly boosted the altcoin market, especially after Bitcoin [BTC] surged above $100K last week. Looking ahead, the building momentum may be a signal of an incoming first phase of the altcoin season, noted analytics firm Swissblock. 'First leg of Altseason incoming. Last time we got this confirmation was February and November of 2024.' Source: Swissblock The attached chart shows an uptick in positive altcoin impulse (blue), a trend flashed in both February and November 2024 altcoin run-ups. Altcoin momentum improves Crypto analyst Benjamin Cowen echoed Swissblock's outlook. Cowen noted that, from a price chart perspective, there was an increasing number of altcoins above the 100-day Simple Moving Average (SMA). Source: X AMBCrypto checked key altcoin season indicators to gauge the budding traction. Bitcoin dominance (BTC.D) hit a cycle high of 65.3% in early May, slowing the broader altcoin sector's April recovery. However, last week's BTC jump above $100K was also marked by a sharp 4% drop in BTC dominance to 62%. Source: TradingView (Altcoin market performance vs. BTC, USDT dominance) Besides, Tether's USDT dominance (USDT, orange) has declined from 6% to 4.5% in the past three weeks. This meant that the altcoin sector saw some capital rotation from BTC. This was confirmed by a rebound in altcoin market cap (purple), excluding BTC and Ethereum [ETH ] , from over $600 billion to over $900 billion. For context, last November's altcoin pump was marked by similar signals – a sharp drop in BTC and USDT dominance. Simply put, the Swissblock outlook may be validated if the trend repeats. Read More Lido [LDO] falters at $1.7 — Can buyers still benefit? That said, it was still a firm BTC season as of the time of writing, per the Altcoin Season Index (ASI) reading of 27. Notably, the ASI is a lagging indicator. It tracks BTC's performance against altcoins over the past 90 days. Despite this, Monero [XMR], Sui [SUI], Bittensor [TAO], and Tron [TRX] have outperformed BTC in the same period.
Yahoo
07-05-2025
- Business
- Yahoo
Marex Group plc (MRX): A Bull Case Theory
The clearing business is Marex's crown jewel, contributing $466 million in revenue (29% of total) and a sector-leading $247.3 million in profit before tax. The firm interfaces with 60 global exchanges and cleared over 1.1 billion contracts in 2024—a 30% increase from the prior year. Clearing's high margins and recurring income profile make it a key driver of financial stability. Meanwhile, the agency & execution segment is Marex's largest by revenue, generating $695 million (44% of total) from capital markets, securities, and energy brokering. This segment's prime brokerage arm—bolstered by the Cowen acquisition—serves a diversified client base of asset managers, hedge funds, and producers. It has compounded at 54% from 2021–2024 and remains a high-growth area. Growth at Marex has come from a mix of organic expansion and savvy acquisitions. Since 2021, approximately 60% of its growth has been organic and 40% inorganic. The company completed 17 acquisitions between 2018 and 2024, including ED&F Man Capital Markets in 2022 and Cowen's prime brokerage business in late 2023, which established Marex's foothold in hedge fund services. In 2025, Marex announced or completed acquisitions of Hamilton Court Group, Aarna Capital, Darton Commodities, and Edgemere Terminals, signaling a continued appetite to scale across clearing, FX, warehousing, and cobalt trading. These strategic moves have expanded Marex's capabilities across commodities, fixed income, FX, and equities. Marex has quietly emerged as a powerhouse in global financial services, with particular dominance in commodities and market access. Though under the radar for many investors, the company's performance and strategic growth have positioned it as a compelling long-term investment opportunity. The firm, headquartered in London with a global footprint across EMEA, the Americas, and Asia Pacific, operates a highly diversified platform comprising clearing, agency & execution, market making, and hedging & investment solutions. In 2024, Marex generated $1.6 billion in revenue—a 28% year-over-year increase—with profit before tax growing 40% to $321 million and a remarkable 25% return on equity. We came across a bullish thesis on Marex Group plc (MRX) on Substack by Karst Research. In this article, we will summarize the bulls' thesis on MRX. Marex Group plc (MRX)'s share was trading at $45.65 as of May 5 th . MRX's trailing and forward P/E were 16.78 and 13.37 respectively according to Yahoo Finance. Story Continues Marex's market making arm, which earns revenue through spreads by providing liquidity, contributed $208 million in revenue (13% of total) and $66 million in profit before tax. With profitability in 100% of months and 98% of weeks, it offers consistent performance in volatile markets. Lastly, the hedging and investment solutions business delivered $162 million in revenue (10% of total), split between bespoke hedging strategies for commodity clients and structured financial products for wealth managers. The firm's income mix—53% from commissions, 31% from trading, and 14% from interest income—mitigates concerns of it being overly reliant on interest rates. Furthermore, Marex's client base has expanded dramatically, growing from 2,190 in 2021 to 5,031 in 2024, with a sharp increase in high-value clients paying over $1 million annually. Net interest income (NII) reached $227 million—an 87% surge from the previous year, accounting for 14% of total revenue. This growth stemmed primarily from higher yields on client balances and collateral, driven by elevated interest rates. While this income stream is nearly pure profit, it carries sensitivity to future rate cuts, which could compress earnings if not offset by continued organic growth. The firm's ability to grow balances and expand commission and trading income offers some insulation, but the impact of rate moves is still substantial, with a 1% rate change affecting profit before tax by roughly $20 million. Marex's core business, however, remains strong and diversified, helping mitigate this risk. Their short-duration, high-liquidity balance sheet—80% of which supports client activity—limits exposure to long-term rate lock-ins but allows constant turnover, supporting flexibility. While rate tailwinds may moderate, the company's scale, growth in trading and commission income, and ability to manage rate sensitivity position it well to navigate any future shifts in the macro environment. Overall, Marex's interest-driven profit growth underlines its operational leverage and resilience in today's rate environment. Marex trades at 11.2x NTM P/E and 14.1x LTM P/E—reasonable for a company delivering strong preliminary Q1 2025 results, with adjusted PBT between $92.3M and $97.3M, a major leap from Q1 2024. If double-digit revenue growth and stable margins persist, 2025 net income could reach $300 million, implying a 12x P/E valuation would justify a $3.3B+ market cap, or 22% upside. Trading at 2.5x tangible book (backing out client activity), Marex appears reasonably priced considering its 25% ROE versus StoneX's 19% and 2.1x P/B multiple. Interest rate risk exists, but as NII's revenue contribution declines, Marex's operating business increasingly drives performance. Since 2021, Marex has grown revenue 28%, doubled its client base, and quadrupled large clients generating $1M+, with 60% of this growth organic. With continued margin improvement in 3 of 4 segments and its ability to capture market share amid a shrinking FCM landscape, Marex appears more 'growth at a reasonable price' than value. In a volatile macro environment, it remains well-positioned to compound earnings further, especially if 2025's performance mirrors Q1 momentum. Marex Group plc (MRX) is not on our list of the 30 Most Popular Stocks Among Hedge Funds. As per our database, 26 hedge fund portfolios held MRX at the end of the fourth quarter which was 18 in the previous quarter. While we acknowledge the risk and potential of MRX as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than MRX but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock. READ NEXT: 8 Best Wide Moat Stocks to Buy Now and 30 Most Important AI Stocks According to BlackRock. Disclosure: None. This article was originally published at Insider Monkey.
Agriland
06-05-2025
- Business
- Agriland
CAP must deliver ‘higher income support' for young farmers
The Common Agricultural Policy (CAP) needs to deliver 'higher income support for young farmers' and improved access to land and finance, according to one MEP who today (Tuesday, May 6) has set out a new CAP reform plan. The Fianna Fáil MEP for the Midlands North-West and member of the European Parliament's Committee on Agriculture and Rural Development (AGRI), Barry Cowen, today published a new position paper outlining his 'vision' for the future of European farming and the next CAP post-2027. In the paper the MEP and former minister for agriculture calls for a major increase in CAP funding in the 2028–2034 Multiannual Financial Framework (MFF). He also warns that 'failure to adjust for inflation could erode over half the CAP's real value by 2034 – representing a €250 billion shortfall'. According to Cowen, against the backdrop of a 'new era of heightened security concerns' food security should be recognised as a core pillar of Europe's strategic defence, with agriculture deserving a 'protected share of broader security spending'. CAP In the paper released today, the MEP also proposes 'stronger financial and policy tools to address generational renewal'. He believes this poses an 'existential threat' to farming and rural communities. The MEP has also highlighted the ongoing calls across Europe for 'major simplification' across CAP delivery including reducing administrative burdens on farmers which he says is a major issue for Irish farmers also. Cowen added: 'This position paper reflects months of engagement with stakeholders across Europe – farmers, young entrants, producer organisations, innovators, environmental experts and policymakers. 'It is shaped by their insights and driven by a belief that we can deliver a CAP post-2027 that strengthens farming and rural life while meeting environmental and food security challenges. 'A resilient, productive agricultural sector is not just an economic asset – it is a strategic imperative. That is why we must halt the erosion of CAP funding and give farming the status it deserves'. Third pillar According to the Fianna Fáil MEP for the Midlands North-West, a 'third, voluntary environmental pillar' should be introduced in CAP which he believes would put 'logic and trust back into the system'. 'It's a chance to support the farmers doing the most for sustainability – with tailored schemes that provide real rewards, not red tape. 'Simplification is no longer optional. Farmers expect less bureaucracy and more clarity. 'Any political representative who campaigned last year knows this was the farming community's overriding message. The next CAP must allow them to focus on what they do best,' he added. Cowen said he plans to use his position paper as the basis for negotiations in the European Parliament, 'aiming to shape both the committee's draft and the final plenary recommendations'.
