Nathan Vardi
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I am the Executive Editor of News & Enterprise @MarketWatch. Author of For Blood And Money shorturl.at/ryRXY
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Articles by Nathan Vardi
Britney Nguyen to join MarketWatch as tech reporter - Editor and Publisher
I am delighted to announce that Britney Nguyen is joining MarketWatch on April 28 as a tech reporter covering Nvidia, semiconductors and AI. This is an exciting hire for our growing technology team in New York. Britney comes to us from Quartz, where she focused on AI, the chip industry and tech policy, while covering trending tech news more broadly.
America's richest banker says Trump is on the right track with 'shock and awe' tariffs
By Nathan Vardi Andy Beal says, 'Bill Ackman is wrong. We don't need another moratorium for 90 days.' Billionaire Andy Beal, the nation's wealthiest banker, said on Monday that President Donald Trump should stay the course with "shock and awe" tariff policies that have roiled financial markets.
America’s richest banker says Trump is on the right track with ‘shock-and-awe’ tariffs
Andy Beal said “Yes, there is a big price to pay to recast the role of the U.S. But it simply has to be done.” Billionaire Andy Beal, the nation’s wealthiest banker, said on Monday that President Donald Trump should stay the course with “shock-and-awe” tariff policies that have roiled financial markets.
de inmigrante a multimillonaria
En el mundo ultra competitivo de los medicamentos contra el cáncer, Summit Therapeutics es un pez relativamente pequeño. Esta empresa biotecnológica de 21 años sólo tiene 130 empleados, ningún ingreso y ningún medicamento aprobado. Pero en las dos últimas semanas, su capitalización bursátil se ha disparado tras las noticias positivas sobre su fármaco candidato más prometedor.
This investor made billions on Weight Watchers over 23 years and got out just before the stock imploded
One year ago, in March 2023, Ray Debbane announced he would be resigning as chairman of WW International, the parent company of Weight Watchers, whose board he had joined in 1999. A day after Debbane stepped off the board in May 2023, his private equity firm, Invus, sold its 21% stake in the company, ending its 23-year ownership relationship with the company.
For Blood and Money: Billionaires, Biotech, and the Quest for a Blockbuster Drug|Paperback
"A cinematic tour of ambition, greed and desperation in biotech."— Mandana Chaffa Scientific American "A crash course in biotech success—and failure…For Blood and Money does an excellent job of highlighting the complexities and expense, both financial and personal, of drug development."— Heidi Ledford Nature "[For Blood and Money] is a fascinating look at the quest to develop a new drug for blood cancer that targets only cancerous cells and not the healthy kind."— Economist "For Blood and...
Giant bond investor says buy bonds now and you’ll ‘be rewarded’
With yields bouncing up and down, these are interesting times in bond land, keeping Pimco’s Daniel Ivascyn on his toes. But the manager of the world’s biggest actively managed bond fund remains firm in his message to investors: Now is a good time to shift into bonds. “Investors need to be patient and have a bit of a longer-term horizon or a little bit of patience with this market,” said Ivascyn in an interview with MarketWatch on November 6, adding the bond market will remain volatile.
Forget U.S. stocks for now. Invest here instead, says Bridgewater's co-investment chief
By Nathan Vardi Karen Karniol-Tambour says U.S. stocks are 'pricing in perfection.' Bridgewater Associates' co--chief investment officer lands on the MarketWatch 50 list of the most influential people in markets. As a co--chief investment officer of Bridgewater Associates, the world's biggest hedge-fund firm, Karen Karniol-Tambour scours global markets for good investment opportunities.
Ron Baron says Tesla's valuation can hit $4 trillion, but 'SpaceX has a chance to be even bigger'
By Nathan Vardi The billionaire investor has beaten the market by betting on Elon Musk. He lands on the MarketWatch 50 list and, in this interview, remains as bullish as ever. When Ron Baron was starting an investment business, he got some advice from Steve Wynn. The casino magnate told Baron to name his investment company after himself as a way to show clients and customers that he promised to stand behind it.
Forget U.S. stocks for now. Invest here instead, says Bridgewater's co-investment chief
As co-chief investment officer of Bridgewater Associates, the world’s biggest hedge fund firm, Karen Karniol-Tambour scours global markets for good investment opportunities. She’s increasingly finding them outside the U.S. “I’m definitely a little bit bearish on U.S. stocks, and I especially don’t like their valuation relative to other opportunities around the world,” Karniol-Tambour said in an interview with MarketWatch.
Ron Baron says Tesla's valuation can hit $4 trillion, but 'SpaceX has a chance to be even bigger'
By Nathan Vardi The billionaire investor has beaten the market by betting on Elon Musk. He lands on the MarketWatch 50 list and, in this interview, remains as bullish as ever. When Ron Baron was starting an investment business, he got some advice from Steve Wynn. The casino magnate told Baron to name his investment company after himself as a way to show clients and customers that he promised to stand behind it.
Ron Baron says Tesla’s valuation can hit $4 trillion, but ‘SpaceX has a chance to be even bigger’
When Ron Baron was starting an investment business, he got some advice from Steve Wynn. The casino magnate told Baron to name his investment company after himself as a way to show clients and customers that he promised to stand behind it. Some four decades later, Baron Capital has made its most important investment in Elon Musk, Inc. Baron invested $570 million in Tesla TSLA, mostly between 2014 and 2016, which was about 2% of his assets under management at the time.
Andy Beal, America's richest banker, makes a massive bond bet on inflation
By Nathan Vardi Exclusive: While some regional bank chiefs mismanaged rising rates, billionaire Andy Beal patiently waited years for yields to rise before buying Treasury inflation-protected securities like crazy. For a decade, Andrew Beal waited for market conditions to change. With interest rates at rock-bottom levels, year after year, and other small and regional banks taking big risks to generate a little bit of income, Beal mostly did nothing.
Andy Beal, America's richest banker, makes a massive bond bet on inflation
For a decade, Andrew Beal waited for market conditions to change. With interest rates at rock-bottom levels, year after year, and other small and regional banks taking big risks to generate a little bit of income, Beal mostly did nothing. He sat on his hands while the assets of the bank that he ran decreased over a ten-year period. Then, a year ago, Beal pounced.
How SVB ran foul of subscription line loans to VCs
From his base in Boston, Jesse Hurley cultivated the relationships that helped fuel Silicon Valley Bank’s stunning rise. He negotiated deals with thousands of venture capital and private equity firms that invested in everything from experimental medicines to artificial intelligence with cheques ranging from $5m to more than $30m. Hurley, however, was not in the business of lending to companies and operating businesses.
Inside the relationship with venture capitalists that did Silicon Valley Bank in
From his base in Boston, Jesse Hurley cultivated the relationships that helped fuel Silicon Valley Bank's stunning rise. He negotiated deals with thousands of venture capital and private equity firms that invested in everything from experimental medicines to artificial intelligence with checks ranging from $5 million to more than $30 million. Hurley, however, was not in the business of lending to companies and operating businesses.
One of the greatest cancer drugs ever has suddenly lost its edge. This is why it was vulnerable.
By Nathan Vardi Imbruvica seemed invincible in the marketplace. But a new book, "For Blood and Money," shows how the drug's creators left a trap door that would lead to its undoing. In November, British-Swedish drug giant AstraZeneca published a simple chart in its quarterly earnings presentation that the pharmaceutical industry never saw coming.
One of the greatest cancer drugs ever has suddenly lost its edge. This is why it was vulnerable.
In November, British-Swedish drug giant AstraZeneca published a simple chart in its quarterly earnings presentation that the pharmaceutical industry never saw coming. It showed that 55% of chronic lymphocytic leukemia patients in the U.S. were choosing Calquence, and not Imbruvica, the long-time leading treatment for the disease, when being prescribed a class of drug known as a Btk inhibitor for the first time.
Este es el legendario inversor multimillonario de Biotech que había sido un misterio hasta ahora
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Así es la historia del legendario inversor Wayne Rothbaum, del peor negocio de su vida y que fue una bendición para pacientes con cáncer Original
Robert Duggan había sido advertido por sus asesores de relaciones con inversores antes de su próxima reunión. “Prepárate para este”. Duggan y su equipo estaban en un viaje de recaudación de fondos en Nueva York para presentar a Pharmacyclics, su pequeña empresa de biotecnología en apuros, a los fondos de cobertura y las empresas de inversión. Se les dijo que su próxima cita sería diferente de la habitual sesión de PowerPoint y preguntas y respuestas.
This Legendary Billionaire Biotech Investor Has Remained A Mystery-Until Now Original
In an exclusive excerpt from For Blood And Money, the untold story of Wayne Rothbaum and the worst trade of his life. But what cost him some $700 million turned out to be the boon for countless cancer patients. Robert Duggan had been warned by his investors relations consultants before his next meeting. “Get ready for this one.” Duggan and his team were on a fundraising trip in New York to pitch Pharmacyclics, their tiny and struggling biotechnology company, to hedge funds and investment firms.
How the hunt for lifesaving drugs can be like finding buried treasure
Richard Miller was the cofounder and CEO of Pharmacyclics, a small biotechnology company in Silicon Valley with a stock that had plunged. The company’s big study to test its lead drug candidate in patients with different kinds of cancer that spread to the brain had failed miserably. He had talked to Pharmacyclics’ board about maybe finding new drug candidates, but was unsure what to do next. “Great drugs don’t just grow on trees,” he thought to himself.
Why America’s billionaires need to lead the fight to cure cancer
Robert Duggan is not a scientist. He’s a college dropout. But Duggan got very rich, launching and selling multiple companies, starting with Jiffy Stitchery kits in the ’80s. In fact, he became a billionaire. A number of years ago, Duggan got involved with a tiny California biotechnology company called Pharmacyclics that was developing an experimental cancer medicine. He became the company’s biggest shareholder and, later, its CEO. Duggan had no experience with biotechnology or drug development.
10 crazy things detailed in FTX's bankruptcy filing
By Nathan Vardi From a $1 billion loan to Sam Bankman-Fried to missing funds and payment-disbursement emojis, here are some of the eye-popping revelations from FTX's new CEO On Thursday, John Ray, III, the new CEO of FTX, dropped a long-awaited declaration in U.S. bankruptcy court, giving a sober assessment of the collapse of Sam Bankman-Fried's crypto empire.
10 crazy things detailed in FTX's bankruptcy filing
On Thursday, John Ray, III, the new CEO of FTX, dropped a long-awaited declaration in U.S. bankruptcy court, giving a sober assessment of the collapse of Sam Bankman-Fried's crypto empire. The bankruptcy-court filing followed a whirlwind of events, including the publication of explosive texts Bankman-Fried sent to a Vox reporter earlier this week.
Greg Jensen nailed inflation, the Ray Dalio leadership change, and won at poker. Inside his big year.
By Nathan Vardi '2023 will likely be the year of a very significant global recession': Greg Jensen has positioned the world's biggest hedge fund for more market mayhem ahead. He lands on the MarketWatch 50. On the first Sunday night of October, Greg Jensen hosted Ray Dalio at his New York City apartment to toast the biggest transfer of power in the history of the $4 trillion hedge fund industry.
Greg Jensen nailed inflation, the Ray Dalio leadership change, and won at poker. Inside his big year.
On the first Sunday night of October, Greg Jensen hosted Ray Dalio at his New York City apartment to toast the biggest transfer of power in the history of the $4 trillion hedge fund industry. Over a meal of halibut and grilled cabbage, Jensen, Dalio, and their two wives, marveled at their relationship and the transition atop the world's biggest hedge fund firm that had just taken place.
Who are the 50 people influencing markets the most this year? Tell MarketWatch what you think.
This is a year in financial markets that will be remembered. Stocks had their worst start to a year since the Great Depression and quickly entered a bear market. Bitcoin and other cryptocurrencies plunged by more than 60%. The Federal Reserve delivered the biggest interest-rate hike in decades. Oil prices surged past $100 a barrel, and yields on government bonds soared. All that has happened before the Fourth of July fireworks.
Insiders Unloaded $35 Billion In Tech IPO Bonanza
Insiders Unloaded $35 Billion In Tech IPO Bonanza Stocks of FIGS, Coinbase, Coupang and Robinhood have plunged since 2021 IPOs. But not before executives and financial backers sold portions of their holdings. Read Full Article »
You bought. They sold. Meet some of the insiders who unloaded $35 billion in stock amid the tech IPO bonanza before it tanked.
A year ago, Heather Hasson and Catherine "Trina" Spear traveled from Santa Monica, Calif., to New York to ring the opening bell at the New York Stock Exchange. The co-chief executives of FIGS, an online retailer of higher-end apparel for healthcare professionals, cheered their initial public offering together with people who joined them on the bell podium wearing stylish scrubs.
'It's a sign of me buying.' Bill Hwang, the man who manipulated stocks
On June 11 2020, Bill Hwang received a text message from an investment analyst at his family office, Archegos Capital Management, which had quietly become one of Wall Street's largest stock trading operations. One of Archegos' biggest positions, the stock of ViacomCBS, had held up well on a down day in the market and the analyst wanted to ask if the price improvement was "a sign of strength?" Hwang didn't think so. "No," Hwang responded in a text message.
a former online gambling mogul's contentious campaign to change Bitcoin's future
Sitting in a small ballroom of midtown Manhattan's Sheraton Hotel, Calvin Ayre is trying to remember his last visit to New York City. He can recall throwing a party at the Rainbow Room atop Rockefeller Center and hanging out with bigshot actors, like Bruce Willis and Luke Wilson, but the event was a long time ago. Busta Rhymes performed, and Victoria's Secret models mingled among the crowd. "That was a fun party," says Ayre of the 2006 bash.
Capital, American: How Veritas Capital's Ramzi Musallam Turned Tragedy Into The American Dream
Ramzi Musallam, CEO and Managing Partner, Veritas Capital Ramzi Musallam returned to his desk after a quick trip to the bathroom on September 10, 2012, to find his assistant visibly shaken. She informed him that a call had come in about Musallam’s boss, Robert McKeon. He had just killed himself in his southern Connecticut mansion at the age of 58. Musallam jumped in his car and raced the 40 miles from Midtown Manhattan to Darien, Connecticut.
This is how America's booming demand for goods shattered the supply chain
President Biden has pushed the nation's major ports to operate around the clock, shipping companies are getting fined for containers lingering on port docks, trucking operations are desperately recruiting foreign drivers, and pop-up container yards are hastily being funded in preparation for the holiday season. But beneath the hand-wringing over labor shortages and rusty infrastructure, there is an incontrovertible fact: the current supply-chain chaos is driven by demand.
「忘れられた英雄」コロナワクチン開発者の苦闘
2大製薬会社トップ、工場への直談判 カナダの生化学者イアン・マクラクランの革新的な薬物送達システムなくしては、モデルナ社もファイザー社もmRNAワクチン接種の安全性は確保できなかった。では、なぜこのカナダ人生化学者の多大なる貢献は世に知られていないのか──なぜロイヤルティーが支払われていないのか。以下は、米フォーブスの数カ月に及ぶ調査の結果である。 1日あたりの感染者数が全世界で20万人を超えるパンデミックが起きた2020年夏、ファイザー社CEO（最高経営責任者）アルバート・ブーラとビオンテック社CEOウグル・シャヒンは高級プライベートジェットで、オーストリアのクロスターノイブルクの丘陵地帯へ向かった。 一攫千金：ファイザー社CEOアルバート・ブーラはワクチンのおかげで今年260億ドルの収益を上げた。しかし一時的な増収に株価押し上げの効果はなく、今でもパンデミック発生前とほとんど変わりない41ドルで取引されている。(Getty Images)...
Pfizer CEO says he's gotten a COVID vaccine booster shot and most of us will, too
Pfizer CEO Albert Bourla revealed he personally received a COVID-19 vaccine booster recently and expects federal regulators to make booster shots more widely available in the United States. "Likely, they will start moving the recommendations to earlier ages as they did in England and other places," said Bourla. "I just received it." Bourla, 59, made the comments at the HTLH conference taking place this week in Boston.
Meet Ramzi Musallam, Wall Street's Top-Secret Billionaire Investor
For most financiers, “government” is a four-letter word. But private equity billionaire Ramzi Musallam has turned tragedy into a Forbes 400 fortune by distilling the motivations of the largest player in the global economy. by Nathan Vardi and Hank Tucker Ramzi Musallam returned to his desk after a quick trip to the bathroom on September 10, 2012, to find his assistant visibly shaken. She informed him that a call had come in about Musallam’s boss, Robert McKeon.
O herói esquecido da Covid: a história do cientista cuja descoberta viabilizou as vacinas
Jens Kristian Balle Sem o inovador sistema de entrega de Ian MacLachlan, empresas como a Moderna e a Pfizer não conseguiriam introduzir as vacinas de mRNA com segurança nas suas células. Em meados de 2020, enquanto a pandemia se alastrava, infectando mais de 200 mil pessoas por dia em todo o mundo, o CEO da Pfizer, Albert Bourla, e o CEO da BioNTech, Uğur Şahin, embarcaram em um jato executivo a caminho do interior montanhoso de Klosterneuburg, na Áustria.
la historia no contada del científico detrás de las vacunas
En el verano de 2020, mientras la pandemia se propagaba, infectando a más de 200,000 personas al día en todo el mundo, el director ejecutivo de Pfizer, Albert Bourla, y el director ejecutivo de BioNTech, Uğur Şahin, abordaron un avión ejecutivo en ruta hacia la campiña montañosa de Klosterneuburg, Austria. Su destino: una pequeña planta de fabricación ubicada en la orilla occidental del río Danubio llamada Polymun Scientific Immunbiologische Forschung.
El héroe olvidado del Covid: la historia del científico que hizo posible las vacunas
En el verano de 2020, mientras la pandemia se propagaba, infectando a más de 200.000 personas al día en todo el mundo, el director ejecutivo de Pfizer, Albert Bourla, y el director ejecutivo de BioNTech, U?ur ?ahin, abordaron un jet ejecutivo en ruta hacia la campiña montañosa de Klosterneuburg, Austria. Su destino: una pequeña planta de fabricación ubicada en la orilla occidental del río Danubio llamada Polymun Scientific Immunbiologische Forschung.
Covid’s Forgotten Hero: The Untold Story Of The Scientist Whose Breakthrough Made The Vaccines Possible
Without Ian MacLachlan’s innovative delivery system, Moderna and Pfizer couldn’t safely get their mRNA vaccines into your cells. So why does hardly anyone acknowledge the Canadian biochemist’s seminal contributions—or pay a dime in royalties? In the summer of 2020, as the pandemic raged, infecting more than 200,000 people a day across the globe, Pfizer CEO Albert Bourla and BioNTech CEO Uğur Şahin boarded an executive jet en route to the hilly countryside of Klosterneuburg, Austria.
Being An Old-school Fundamentals Guy In The Era Of Amazon, Tesla, GameStop And Bitcoin
Carl Icahn’s fund has lost money in five of the last seven years. He hopes to turn things around with big bets on Occidental, Bausch Health, Cheniere Energy, Newell Brands and Xerox In October 2013, when Carl Icahn started selling his large position in Netflix, many believed the vaunted billionaire investor had done it again. The company had successfully transitioned from a DVD-by-mail rental service to video streaming, and Icahn had made a 457 percent return in just 14 months.
Roivant Sciences Strikes SPAC Deal Valuing The Drug Company At $7.3 Billion
Vivek Ramaswamy, founder of Roivant Sciences. (Photo by Lisa Lake/Getty Images) Getty Images Seven years ago, Vivek Ramaswamy created Roivant Sciences with the aim of finding a new financial model for drug development. On Monday, Roivant Sciences announced it would be going public by merging with a special acquisition company in a deal that values Roivant at $7.3 billion.
Joe Liemandt, founder of ESW Capital, and Andra Liemandt arrive to a state dinner hosted by U.S. President Barack Obama on March 14, 2012. Photographer: Andrew Harrer/Bloomberg © 2012 Bloomberg Finance LP In March, the billionaire founder of Austin, Texas’ ESW Capital, Joe Liemandt, fired off a directive to managers of his army of 2,500 remote workers.
The Billionaire Scientist Behind The Pfizer-BioNTech Vaccine Has Not Sold A Single Share Of His Booming Stock
As the pandemic began to rage a year ago, the biopharma industry responded in unprecedented fashion. Life sciences companies raced to find a solution to the nightmare virus, and promising vaccine efforts soon emerged. The stocks of the companies with the best vaccine candidates soared, and many of their executives rushed to sell shares with a fury that generated scrutiny. There has been one huge exception.
Why Uğur Şahin, The Billionaire Scientist Of The Pfizer Vaccine, Has Not Sold A Single Share Of His Booming Stock
Uğur Şahin, the CEO and scientist behind the first Covid-19 vaccine authorized in the U.S., has not sold a single share of his company's booming stock during the pandemic, Securities and Exchange Commission filings show.
Uno de los científicos que desarrolló la vacuna de Pfizer/BioNtech no ha vendido ni una de sus acciones pese a la disparada de su cotización
Uğur Şahin no ha vendido ni una sola parte de sus acciones de BioNTech (Foto: Twitter / @menitinjain) Cuando la pandemia de COVID-19 alteró la esfera mundial en cuestión de semanas, la industria biofarmacéutica respondió de una manera sin precedentes. Con velocidades sin precedentes, distintos laboratorios desarrollaron fórmulas prometedoras que, antes de que terminara el 2020, fueron aprobadas como las primeras vacunas contra la enfermedad.
The Billionaire Scientist Behind The Pfizer Vaccine Has Not Sold A Single Share Of His Booming Stock
BERLIN, GERMANY - MARCH 18: Ugur Sahin, founder of the Mainz corona vaccine developer BioNTech. ... [+] (Photo by Bernd von Jutrczenka - Pool/Getty Images) Getty Images As the pandemic began to rage a year ago, the biopharma industry responded in unprecedented fashion. Life sciences companies raced to find a solution to the nightmare virus and promising vaccine efforts soon emerged.
How Indiana University Bros Fueled A Hollywood Actor’s $690 Million Ponzi Scheme
BLOOMINGTON, IN - SEPTEMBER 23: General view of Sample Gates on the campus of Indiana University in ... [+] Bloomington, Indiana. (Photo by Michael Hickey/Getty Images) Getty Images On a cold day in late 2017, Jacob “Jake” Wunderlin, cofounder of JJMT Capital, showed up at a diner in Chicago’s Gold Coast neighborhood for a meeting. His lunch companion, Adam Ferrari, was a petroleum engineer who had started investing with Wunderlin and wanted to ask some questions.
Hollywood Actor Bilked 200 Investors In $690 Million Ponzi Scheme, Feds Claim
Hollywood Blvd getty The movies had names like “Blood Quantum,” “La Melodie,” and “Run with the Hunted,” and were purportedly going to be licensed by Netflix NFLX and HBO. But federal securities regulators claim the real fiction was the bogus licensing agreements that a small-time actor claimed he had secured for the movies, part of a $690 million Ponzi scheme.
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