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☆ Veteran Apple investor Alan Patricof says AI is the 'flavor of the month'
▼ + stars: | 2023-10-06 | by ( Kai Xiang Teo | ) www.businessinsider.com time to read: +2 min

Venture capitalist Alan Patricof has a cautionary message about an AI bubble. "Everyone wants to be at an AI company — it's the flavor of the month," Patricof told the New York Post. Patricof recommends investing in companies utilizing AI as a tool, rather than buying AI platforms. AdvertisementAdvertisementAlan Patricof, the venture capitalist known for his investments in Apple and Venmo, has a cautionary message about an AI bubble. "Everyone wants to be at an AI company — it's the flavor of the month," said Patricof during a Thursday interview with the New York Post.

Persons: Alan Patricof, —, Patricof, Mostaque, David Rosenberg, James Penny, Wharton, Jeremy Siegel, Dan Raju, Raju Organizations: New York, Patricof, Service, Apple, Apax Partners, AOL, TAM Asset Management

☆ Arm Holdings options to come to market starting Monday
▼ + stars: | 2023-09-15 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +2 min

Nasdaq plans to list options on Arm Holdings across all six of its exchanges, a spokesperson for the exchange said on Friday. Other options exchange operators, Cboe Global Markets (CBOE.Z) and Intercontinental Exchange's (ICE.N) New York Stock Exchange, did not immediately respond to a Reuters request for comment on their own plans to list ARM options. "I have every reason to believe that when ARM options are listed they will be very popular," Steve Sosnick, chief strategist at Interactive Brokers, said. Arm Holdings is of significant interest to retail investors, Dan Raju, chief executive at online brokerage firm Tradier, said. I expect the listing of options to also see an initial surge in options activity followed by a tapering," he said.

Persons: Dado Ruvic, Steve Sosnick, Sosnick, Dan Raju, Saqib Iqbal Ahmed, Richard Chang Organizations: REUTERS, SoftBank's, Holdings, Nasdaq, Arm Holdings, Cboe, New York Stock Exchange, ARM, Interactive, Facebook Inc, Facebook, Thomson Locations: New

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., July 19, 2023. Home and kitchen product maker Tupperware Brands Corp's stock rose more than 32%, after sky-rocketing by more than 575% over the past seven sessions despite no material changes to the company's health. The original meme stock rallies, most famously, involved retailer GameStop and movie theater chain AMC Entertainment. Market orders from retail traders made up 17.6% of total market flows on July 31, up from a near six-month low of 14.8% on July 20, according to J.P. Morgan data. Roundhill's Meme index (.MEME) had hit a more than one-year high on Monday.

Persons: Brendan McDermid, Tupperware, JJ Kinahan, Kinahan, Nikola Corp, Morgan, Dan Raju, Raju, Medha Singh, Devika Syamnath, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, Tupperware Brands Corp, Apollo Global Management, Tupperware, Revlon, Hertz Corp, IG North America, GameStop, AMC Entertainment, Corp, Nikola, Tesla, Thomson Locations: New York City, U.S, Bengaluru, Chibuike, New York

☆ Is the AI stock boom a dot-com-style bubble? David Rosenberg, Jeremy Siegel, and 5 other experts weigh in.
▼ + stars: | 2023-06-18 | by ( Zinya Salfiti | ) www.businessinsider.com time to read: +5 min

Experts including David Rosenberg and analysts from Wall Street banks including Bank of America have compared the AI stock boom to the dot-com bubble that burst in 2000. Here's a selection of the most recent expert views on this year's AI stock boom. But not everyone thinks the AI stock boom has run too far. Michael Hartnett, Bank of AmericaMichael Hartnett, BofA Global Research's CIO, said AI is in a "baby bubble" for now and noted that "AI = internet." Jeremy Siegel, Wharton finance professorThe retired Wharton finance professor doesn't see the AI hype as a bubble, either.

Persons: David Rosenberg, Wharton's Jeremy Siegel, Dan Ives, —, Wharton, Jeremy Siegel, Dan Raju, Michael Hartnett, Bank of America Michael Hartnett, BofA, James Penny, TAM Asset Management James Penny, I'd, Art Cashin, Cashin, Rosenberg, doesn't Organizations: Bank of America, Wedbush Securities, Service, Wall, UBS, TAM Asset Management, Nvidia, Microsoft, BofA Global, firm's, Bloomberg, Art, CNBC Locations: Wall

☆ Markets think the Fed is about to deliver a smaller rate hike, but here's one big reason the central bank could stay aggressive on its next move
▼ + stars: | 2023-01-14 | by ( Carla Mozée | ) www.businessinsider.com time to read: +4 min

Investors are locking in expectations that the Fed will downshift its interest rate hike in February. The December core rate was 0.3% on a monthly basis, up from 0.2% in November. Shelter inflation that monitors costs for renters and homeowners climbed 0.8%. "Bond yields moving lower, the VIX moving lower and the dollar moving lower suggests that the iceberg of fear that we've seen for the last year almost is easing," Russell said. "The market looks out and they see a scenario of lower inflation … they see that we're getting to the end of this aggressive rate hiking."

FTX token - which gives holders discounts on FTX trading fees - was last trading at $5.33, having slumped by more than three-quarters. Tuesday's developments left FTX investors scrambling to figure out what the deal with Binance means for their investment in FTX, according to people familiar with the matter. In late 2019, Binance invested in FTX, then a far smaller exchange, before exiting the investment in July last year. By then FTX had mushroomed into a growing rival to Binance, which dominates the crypto industry with over 120 million users. "A *huge* thank you to CZ, Binance," Bankman-Fried wrote.

loadingHe said Binance, the world's biggest crypto exchange, will conduct due diligence in the coming days as the next step toward an acquisition of FTX.com. By then FTX had mushroomed into a growing rival to Binance, which dominates the crypto industry with over 120 million users. FTX token - which gives holders discounts on FTX trading fees - was last trading at $5.33, having slumped by more than three-quarters. On Sunday, Zhao said his firm would liquidate its holdings of the FTX token due to unspecified "recent revelations." "A *huge* thank you to CZ, Binance," Bankman-Fried wrote.

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