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In this article JPY= Follow your favorite stocks CREATE FREE ACCOUNTThe Japan flag is juxtaposed against a Japanese yen bank note. Javier Ghersi | Moment | Getty ImagesThe yen slipped past 155 against the U.S. dollar on Thursday, touching a new 34-year low against continued strength in the greenback. The weakness comes as the Bank of Japan is due to release its monetary policy decision Friday and in spite of verbal warnings from Japanese authorities. Some market watchers had speculated that the 155 level would prompt intervention after the currency languished at multi-decade lows for a month. The yen has weakened 4.2% since the BOJ's March meeting, worrying Japanese authorities and investors.
Persons: Javier Ghersi, Shusuke Yamada, Jerome Powell, Appio Organizations: U.S, Bank of Japan, BofA Securities, Federal, First Eagle Investments, CNBC, Korean Locations: Japan, South Korea
As Charlie Munger's admirers around the globe mourn the loss of one of the most influential investors ever, a deep sense of gratitude and appreciation has spread — for his unparalleled business acumen as well as his uniquely sharp tongue. Munger, Berkshire Hathaway's vice chairman who died Tuesday one month shy of his 100th birthday, left a mark on generations of investors in a host of ways thanks to a long and fruitful life. First and foremost, Munger's investment philosophy rubbed off on none other than Warren Buffett, giving rise to the sprawling conglomerate worth almost $800 billion that Berkshire is today. Munger long emphasized the importance of recognizing a good business before it's widely seen as such, and he did so many times in his storied career. Munger was also a loyal supporter of Costco Wholesale Corp ., calling it one of the best investments of his life.
Persons: Charlie Munger's, Warren Buffett, Munger, Buffett, Bill Stone, Matt McLennan, Charlie, McLennan Organizations: Munger , Berkshire Hathaway's, Glenview Trust, First Eagle Investments, CNBC, Berkshire, Costco Wholesale Corp, Price Club Locations: Munger , Berkshire, Berkshire, Glenview
"If there is a regime shift, then what has worked could be quite different from what does work," McLennan said. That means the growth stocks that dominated for years may come back to earth in the mid-2020s. He also recommends that investors diversify away from growth stocks that thrived under low rates and instead broaden out to value-oriented names. Valuations explain 80% of a stock's returns over a decade, according to Bank of America. Smead sees energy in stocks in Canada also outperforming in the coming decade, as well as European banks.
Persons: , Peter Bates, Rowe Price, Damanick Dantes, We're, Dantes, you've, He's, Matt McLennan, McLennan, Kimball Brooker, Morningstar, Nicola Stafford, Stafford, it's, Molina, Bates, Russell, Cole Smead, that's, Phillip Colmar, Colmar, Bob Doll, Doll, Smead, Michael Sheldon, Sheldon, who's, there's, Chris Chen, Chen, Roth Organizations: Service, Business, Global, International, McLennan, First Eagle Global Fund, Eagle Investments, Goldman, Asset Management, Stock, Molina Healthcare, Vanguard Value, Healthcare, Bank of America, Comerica Wealth Management, MRB Partners, Canadian, Crossmark Global Investments, BlackRock, Energy, P Bank ETF, RDM Financial, Social Security, Social, Insight Financial, Trust, IRA Locations: Canada, Colmar, United States, Canadian, Europe, Treasuries
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with First Eagle Investments' Matthew McLennanMatthew McLennan, portfolio manager of the First Eagle Global Value Fund, joins 'The Exchange' to discuss fiscal laxity at the peak of the economic cycle, financial stability concerns due to the federal deficit, and equity markets failing to price in risks facing the dollar.
Persons: Matthew McLennan Matthew McLennan Organizations: Eagle Investments, Value Fund
CASE FOR A SWIFT RETREAT1/ ENERGY PRICESTumbling energy prices are pulling down headline inflation. U.S. inflation rose 6.4% in January, the smallest rise since October 2021, from a 9.1% high last June. Instead, corporate profits have accounted for the lion's share of domestic euro zone price pressures since 2021, ECB data shows. A recent IMF study going back to the 1960s found that only in a small minority of cases where wages and inflation rose together for several quarters did sustained inflation result. The chief executive of Gunvor, a top oil trader, sees oil prices rising in the second half of 2023 on renewed Chinese demand.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC’s full interview with First Eagle Investments' Matthew McLennanMatthew McLennan, First Eagle Investments portfolio manager, joins 'The Exchange' to discuss the bond market and the markets as a whole.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvestors should diversify as U.S. dollar has medium-term risk, says First Eagle's Matthew McLennanMatthew McLennan, First Eagle Investments portfolio manager, joins 'The Exchange' to discuss the bond market and the markets as a whole.
Analysis: Move over TINA, it's time for TARA
  + stars: | 2023-01-11 | by ( Naomi Rovnick | ) www.reuters.com   time to read: +5 min
Reuters GraphicsIdanna Appio, a portfolio manager at First Eagle Investments, said that TINA was good for passive investors as it meant that equity prices went up because bond yields went down. "The risk free rate," he added, referring to core government bond yields, "actually gives you something." Bond funds recorded net inflows for six straight weeks until early January, BofA said, based on its analysis of EPFR data. "The end of TINA is very important," said Francesco Sandrini, head of multi-asset strategies at Amundi, Europe's largest fund manager. "You don’t need a bond bull market, you now have income," said Jeffrey Sherman, deputy chief investment officer at U.S. money manager DoubleLine.
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