Alternative Investing Report - November 28, 2025

*as of 11/27; Sources: S&P, BTC, FTSE, DJRE, CL50

The typical U.S. asking rent fell by 0.2% in October, and is now up only 2.3% year-over-year, according to a new report from Zillow. Single-family rentals are performing significantly better than multifamily rentals, with a 3.1% growth rate compared to 1.6%. Rent increases were highest in San Francisco and Chicago, with the biggest decreases in Austin and Denver. Realtor.com’s rental report, which measures 0-2 bedroom apartment units, recorded a similar 0.1% monthly decline, but has the annual change as negative, with a 1.7% decline year-over-year. It also pegs Austin has having the biggest decrease, with Kansas City posting the biggest increase.

➨ TAKEAWAY: The numbers for the rental market mirror those in the broader housing market, with recent declines and annual gains that come in below inflation and income growth, meaning that housing costs are declining on a real basis. Texas’ & Florida’s markets are still struggling with the effects of oversupply, while the Midwest and Northeast are faring better. In fact, the Midwest holds 11 of the top 30 slots in a recent ranking of rental demand.

Vincent co-founders Eric Cantor and Adam Katz discuss the recent acquisitions of pre-IPO trading platforms EquityZen and Forge Global by Morgan Stanley and Charles Schwab. (8 mins)

🎰 Polymarket returning to U.S.: In a widely expected move, the prediction market startup received approval from the CFTC to operate in the U.S. and can now onboard U.S. customers and brokerages. The platform is already hitting record-high trading volumes, so this development should only continue to accelerate its growth.

🚀 Revolut share sale: The London-based digital bank completed a secondary share sale at a valuation of $75 billion, a 67% gain over its previous valuation of $45 billion last August.

🏢 Office traffic increasing: U.S. office foot traffic rose 5% year-over-year in October, with employees now averaging 3.2 days a week in-office as hybrid work grows in popularity.

📊 Fed chair frontrunner: White House National Economic Council Director Kevin Hassett is reportedly the leading candidate to take over from Jerome Powell as chair of the Federal Reserve when Powell’s term ends next May. Hassett is a proponent of cutting rates significantly, which could boost the markets in anticipation of his appointment.

🎨 Renoir sale: A previously unknown work by the French painter that depicts his son, the award-winning filmmaker Jean Renoir, sold at auction in Paris for $2.08 million, above the work’s pre-sale high estimate.

💵 Private credit defaults: The Kroll Bond Rating Agency projects defaults in the private credit market to rise in 2026 due to the growing number of middle-market firms having difficulty making payments.

Broadcom (Nasdaq: AVGO)

Current share price: $397.57 ($1.84 trillion market cap)

• There are a lot of parallels to Nvidia

• Across the board, in terms of chipsets, software products, even on the hyperscaler side, I’m really impressed with what they do

• It is a business that continues to compound

Here’s a list of our past expert investing picks.

Arjun Sethi is co-CEO of Kraken, one of the most secure and enduring cryptocurrency platforms. He is also Chairman of Tribe Capital, a leading venture capital firm managing $1.7B in assets, with investments in Block, OpenAI, Rippling, Slack and xAI among others. Previously, Arjun was a Partner at Social Capital, where he led the venture team. He co-founded two startups—LOLapps (acquired by 6waves) and MessageMe (acquired by Yahoo). He joined Yahoo’s executive team to lead data and analytics teams and run mobile and emerging products. He also served as a Board Observer, helping to oversee the investment in Alibaba. Arjun has also incubated and co-founded Termina.ai, Kapital, and Foundation Robotics.

Monday: 🎨 NY Art Week wrap-up, 🤖 Robotics fundraise
Tuesday: 🤖 AI VC funding, 🏢 CRE market rising
Wednesday: 🏡 Housing prices, 📉 Consumer confidence falls

Have a great weekend!