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☆ Marsh McLennan's Reid Sawyer breaks down the shipping risks from the middle east tensions
▼ + stars: | 2024-04-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarsh McLennan's Reid Sawyer breaks down the shipping risks from the middle east tensionsReid Sawyer, Marsh McLennan head of the emerging risks group, joins 'Power Lunch' to discuss the insurance risk coming from the tension in the middle east.

Persons: Marsh McLennan's Reid Sawyer, Reid Sawyer, Marsh McLennan

☆ 3 of our stocks report earnings next week. Here's what we want to see from each
▼ + stars: | 2024-04-13 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Heightened tensions in the Middle East, including the possibility of Iran attacking Israel, sent stocks back down and oil prices higher. If the choice is between a weak economy with lower rates or a strong economy with higher rates, we'll take the strong economy every time. Low rates may help with valuation multiples, but it's a strong economy that leads to earnings growth and that's what we, as long-term investors care about. Shelter costs are a major sticking point for overall inflation, which makes Tuesday's housing starts and building permits report a key watch item. We'll get another look at housing with the release of the March existing home sales report on Thursday.

Persons: we've, we'll, Morgan Stanley, Wells, bode, we're, Goldman Sachs, Charles Schwab, Johnson, ERIC, JB Hunt, Kinder Morgan, DR, Ally, Huntington, Jim Cramer's, Jim Cramer, Jim, Abbott, Ethan Miller Organizations: Dow Jones, Wednesday, Federal Reserve, Abbott Labs, Cardiovascular Systems, Diagnostics, Procter & Gamble, Constellation Brands, Procter, T Bank, Bank of America, Bank of New York Mellon, BK, PNC Financial, PNC, Ericsson, United Airlines, Interactive, ASML Holdings, US Bancorp, Citizens, Alcoa, CSX, Discover Financial, Nokia, Alaska Air, Blackstone BX, McLennan, Netflix, PPG Industries, Gamble, Financial, American Express, Jim Cramer's Charitable, CNBC, Las Vegas Convention, Getty Locations: Iran, Israel, China, Marsh, Las Vegas , Nevada

☆ Take some profits and buy cyclical names if March CPI only matches expectations, investors say
▼ + stars: | 2024-04-09 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

Conversely, Kilburg is adding to positions that have lagged the market, such as industrial and health-care stocks. "Those are three names that I believe are blue chip, essential names to the U.S. economy," he said. UnitedHealth and other health-care stocks are also trading at a discount, Kilburg said, citing Johnson & Johnson as a potential winner. Buy cyclical names Bailey, formerly a health-care analyst at Legg Mason and Stifel Financial before joining FBB in 2015, expects a hotter-than-forecast inflation report on Wednesday would take stocks lower. The Johns Hopkins MBA also sees the larger, diversified banks as attractive in a climate of higher inflation and interest rates.

Persons: Jeff Kilburg, Kilburg, Mike Bailey, Bailey, payrolls, Lockheed Martin, Johnson, Legg Mason, Berkshire Hathaway, Johns Hopkins, UnitedHealth Organizations: KKM, FBB Capital Partners, Meta, Nvidia, Lockheed, Stifel, FBB, Treasury, Berkshire, Union Pacific, Old Dominion Freight Locations: U.S, McLennan, Progressive, Chevron

☆ Instead of chasing Nvidia, investor buys these misunderstood, cheap growth stocks for big returns
▼ + stars: | 2024-02-28 | by ( Pia Singh | ) www.cnbc.com time to read: +6 min

In a market bedazzled by flashy growth stocks, Torray Investment Partners instead runs a fund that's trying to redefine what value is. The Torray Fund , founded by the late Robert Torray in 1990, is ahead 7.4% so far this year, outpacing the 6.5% gain in the S & P 500. Apart from the Torray Fund, the firm manages four other concentrated portfolios that also hold between 20 and 30 companies. These portfolios are separately managed accounts of either concentrated large growth companies, small- and mid-capitalization growth names, large value companies and equity income. Compared to other large value funds, Torray is overweight in all three.

Persons: iShares Russell, Jeffrey Lent, Robert Torray, Berkshire Hathaway, Morningstar, Lent, Shawn Hendon, Eaton, McLennan, Hendon, Torray, it's Organizations: Torray Investment Partners, Value, Torray, Russell, Berkshire, American Express, Marsh, Financial, Morningstar, Applied Materials, Qualcomm, Nvidia Locations: Eaton, Berkshire

☆ Marsh McLennan Asia CEO shares how they advise clients on managing red sea risks
▼ + stars: | 2024-02-07 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMarsh McLennan Asia CEO shares how they advise clients on managing red sea risksDavid Jacob, CEO of Marsh McLennan Asia says clients are heavily focused on protection of physical assets and financial assets as risks around Red Sea rise.

Persons: Marsh, David Jacob, Marsh McLennan Organizations: Asia, Marsh McLennan Asia Locations: Red

☆ Insurers shun many ships carrying goods through the Red Sea as attacks continue
▼ + stars: | 2024-01-17 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

The crisis in the Red Sea threatens to damage the economy by increasing prices on consumers and delaying the shipment of goods. A Houthi official vowed on Wednesday that attacks on “Israeli-linked” vessels in the Red Sea as well as the Arabian Sea will continue. Ikea also does not foresee any product shortages from the Red Sea problems. “Shippers are now much better at using alternative ways of moving their goods around the world,” Zandi said. “We have not seen the situation in the Red Sea translate into material movements in prices in the US such as consumer goods and gasoline prices,” Schwartz said.

Persons: ”, Marcus Baker, Marsh McLennan, Baker, Vicent Clerc, ” Clerc, CNN’s Richard Quest, Mark Zandi, Zandi, Kristalina Georgieva, Quest, ” Zandi, Stephen Schwartz, ” Schwartz Organizations: CNN, US, US Central Command, Maersk, International Monetary Fund, Oxford University . Shipping, P, Moody’s, Global, IMF, Economic, Wednesday, Ikea, Wells, Wells Fargo Global Receivables, Trade Finance Locations: Israel, Marsh, Suez, Africa, China, Davos, Switzerland, “, Asia, Europe, Germany, Wells Fargo, Iran

☆ World Economic Forum risks report sees a ‘global catastrophe’ within 10 years
▼ + stars: | 2024-01-10 | by ( Hanna Ziady | ) edition.cnn.com time to read: +5 min

The gloomy outlook comes from an annual survey by the World Economic Forum (WEF) of people paid to identify and manage global risks. According to the report published Wednesday, nearly two-thirds of respondents expect an “elevated chance of global catastrophes” in the next decade. Sam Yeh/AFP/Getty ImagesExtreme weather events were ranked the number two short-term risk, demonstrating heightened awareness about the environment and climate change in a year plagued by rising temperatures and rampant floods and wildfires. Cyber insecurity also made it into the top five short-term risks, for the first time in a decade. Lack of economic opportunity, persistently high inflation and an economic downturn were ranked sixth, seventh and ninth on the list of short-term risks respectively.

Persons: “, Carolina Klint, Marsh McLennan, ”, Hou Yu, Sam Yeh, “ It’s, Saadia Zahidi, ” Zahidi, ” John Scott Organizations: London CNN, Humanity, World Economic, American Psychological, Marsh, CNN, ih, Getty, Zurich Insurance Group Locations: Davos, Switzerland, Israel, Carolina, Europe, Taoyuan, AFP

☆ How the Red Sea crisis could clobber the global economy
▼ + stars: | 2024-01-10 | by ( Hanna Ziady | ) edition.cnn.com time to read: +9 min

The Suez Canal accounts for 10-15% of world trade, which includes oil exports, and for 30% of global container shipping volumes. Maersk CEO Vincent Clerc told the Financial Times Thursday that re-establishing safe passage through the Red Sea could take “months.” “It could potentially have quite significant consequences on global (economic) growth,” he added. Ikea has warned of shipment delays and potential shortages of certain products due to disruption in the Red Sea. Some ocean carriers that ordinarily transit through the Panama Canal had rerouted to the Suez Canal before the attacks in the Red Sea escalated, according to logistics company C.H. Matthew Burgess, vice-president of global ocean services at the firm, said global shipping capacity would be constrained for a while yet.

Persons: Joe Biden, Vincent Clerc, Germany’s, Mohamed, El Erian, ” Simon MacAdam, Lily Millard, Ben May, Good Hope, ”, ” It’s, Abercrombie &, Nathan Howard, “, ” Philip Damas, —, Judah Levine, Levine, Eric Thayer, Carolina Klint, Marsh McLennan, Robinson, Matthew Burgess, we’ve, Gene Seroka, Burgess, C.H Organizations: London CNN, British, Energy, World Bank, Maersk, MSC, Lloyd, CMA CGM, Financial Times, Global, Germany’s Kiel Institute, Allianz, Bank, Capital Economics, Oxford Economics, European Automobile Manufacturers ’ Association, Ikea, CNN, Abercrombie, Abercrombie & Fitch, Bloomberg, Getty, Drewry Supply Chain Advisors, Marsh, United, Port Locations: Iran, Crocs, Suez, Yemen, Gaza, Germany, Brent, Gulf, Oman, South Africa, Germany’s Kiel, Red, Israel, Good, Europe, ”, China, Asia, Los Angeles, United States, Panama, Rotterdam, of Los Angeles, of New York, New Jersey

☆ Election disruption from AI poses the biggest global risk in 2024, Davos survey warns
▼ + stars: | 2024-01-10 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +3 min

The World Economic Forum's "Global Risks Report 2024," released Wednesday, ranked AI-derived misinformation and disinformation — and its implications for societal polarization — ahead of climate change, war and economic weakness in its top 10 risks over the next two years. "How that is going to play out is going to be quite important for us to watch," she added. watch nowThe WEF report, which was also produced in collaboration with Zurich Insurance Group, surveyed over 1,400 global risk experts, policymakers and industry leaders in September 2023 about their biggest global concerns. Top 10 global risksThe most cited risks for the next two years were, in order: misinformation and disinformation, extreme weather events, societal polarization, cyber insecurity and interstate armed conflict. Also in the top 10 were lack of economic opportunity, inflation, involuntary migration, economic downturn and pollution.

Persons: Alfieri, Carolina Klint, Marsh McLennan, CNBC's Silvia Amaro, Saadia Zahidi Organizations: Zurich Insurance Group Locations: Carolina, Europe

☆ Cher says this career mistake cost her 'a lot of money': 'I was so stupid'
▼ + stars: | 2023-12-05 | by ( Morgan Smith | ) www.cnbc.com time to read: +2 min

Cher has sold over 100 million records and won a trove of awards, including a Grammy, an Emmy and an Oscar, across her six-decade career. But there's one mistake the 77-year-old singer made earlier in her career that still haunts her — and cost her "a lot of money," she shared in a new interview. While that line made it to the final recorded version of "Believe," Cher's name doesn't appear in the songwriting credits. "Believe," which was released in 1998, is one of Cher's best-selling records to date. Warner Records, the label that released "Believe," did not immediately respond to CNBC Make It's request for comment.

Persons: Cher, Vernon Kay, Kay, I've, Rick Carnes, Carnes, Brian Higgins, Stuart McLennan, Paul Barry, Steven Torch, Matthew Gray, Timothy Powell Organizations: BBC, Recording Academy, Songwriters Guild of America, Warner Records, CNBC

☆ Charlie Munger's acumen, wisdom and irreverence: Investors mourn the loss of one-of-a-kind legend
▼ + stars: | 2023-12-02 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

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

☆ How to make your money work for you over the next decade
▼ + stars: | 2023-11-28 | by ( James Faris | William Edwards | ) www.businessinsider.com time to read: +16 min

"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

Russia, whose officials haven't commented on the corridor, warned this summer that ships heading to Ukraine's Black Sea ports would be assumed to be carrying weapons. Despite such attacks, Ukraine has exported over 5.6 million metric tons of grain and other products through the new corridor, U.S. “That corridor worked in an unpredictable way for us,” said Mykola Horbachov, president of the Ukrainian Grain Association. Before the invasion, the exporter paid $50 per metric ton to ship grain through the Black Sea. To ease that hurdle, an insurance program launched this month to provide affordable coverage to shippers carrying food from Ukraine’s Black Sea ports.

Persons: Roman Andreikiv, ”, Munro Anderson, Lloyd’s, Ukraine’s, haven't, Volodymyr Zelenskyy, Ukraine Bridget Brink, Taras Kachka, it’s, Kelly Goughary, “, Oleksandr Kubrakov, it's, Mykola Horbachov, ” Horbachov, Osmachko, Anderson, ” Osmachko, Marsh McLennan, Zelenskyy, Mykola Solskyi, ___ Bonnell Organizations: —, Agroprosperis, Liberian, Gro Intelligence, Farmers, Ukrainian Grain Association, Ukrainian Locations: KYIV, Ukraine, Russia, Africa, East, Asia, Egypt, Spain, China, Bangladesh, Netherlands, Tunisia, Turkey, Kyiv, U.S, Sumy, Ukrainian, Europe, Lloyd’s, Nigeria, London, russia, ukraine

☆ McLennan replaced by Herbert as Rugby Australia chairman in boardroom coup
▼ + stars: | 2023-11-19 | by ( ) www.reuters.com time to read: +3 min

New Australia rugby union coach Eddie Jones poses with Rugby Australia Chairman Hamish McLennan and CEO Andy Marinos after his first news conference since his reappointment, which was held at Matraville Sports High School, in Sydney, Australia January 31, 2023. REUTERS/Nick Mulvenney/File Photo Acquire Licensing RightsSYDNEY, Nov 20 (Reuters) - Hamish McLennan was replaced as chairman of Rugby Australia (RA) by former Wallabies centre Dan Herbert late on Sunday as the fallout from the country's early World Cup exit continued to reverberate. McLennan, a successful businessman who had overseen the hiring of Eddie Jones to run the ill-fated World Cup campaign, immediately resigned from the board. "Australia will host the British and Irish Lions Tour in 2025, the Men's 2027 Rugby World Cup and the Women's 2029 Rugby World Cup and the 2032 Olympic Games," he added. RA paid tribute to McLennan's role in helping the game get through the COVID pandemic, which brought the governing body close to bankruptcy, and in securing the hosting of the men's and women's World Cups.

Persons: Eddie Jones, Hamish McLennan, Andy Marinos, Nick Mulvenney, Dan Herbert, McLennan, Herbert, Jones, Dave Rennie, Phil Waugh, Rugby Australia's, Toby Davis Organizations: New Australia rugby, Rugby Australia, Matraville Sports High School, REUTERS, Rights, Wallabies, Australia, New South Wales Rugby Union, Australian Capital Territory, ACT, Super Rugby, Irish Lions, Rugby, Thomson Locations: Sydney, Australia, England, Queensland

☆ RA chairman says no shortage of replacements for ex-Wallabies coach Jones
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +2 min

FILE PHOTO:New Australia rugby union coach Eddie Jones poses with Rugby Australia Chairman Hamish McLennan and CEO Andy Marinos after his first news conference since his reappointment, which was held at Matraville Sports High School, in Sydney, Australia January 31, 2023. McLennan said an Australian coach's knowledge of grass-roots rugby in the country would be of value but added that Rugby Australia (RA) wanted the best person for the job. I can tell you, there’s no shortage of high-quality coaches that want to come and coach the Wallabies." Former ACT Brumbies coach Dan McKellar, now coaching in England, is seen as among the strongest candidates to replace Jones, along with current Brumbies coach Stephen Larkham. McLennan was instrumental in appointing Jones, who replaced Dave Rennie after the New Zealander was sacked as Wallabies coach in January.

Persons: Eddie Jones, Hamish McLennan, Andy Marinos, Nick Mulvenney, McLennan, Zealander Robbie Deans, Dan McKellar, Jones, Stephen Larkham, Dave Rennie, we’ve, Ian Ransom, Gerry Doyle Organizations: New Australia rugby, Rugby Australia, Matraville Sports High School, REUTERS, Rights MELBOURNE, Wallabies, Sydney Morning Herald, Zealander, Australia, Panasonic Wild Knights, Former ACT Brumbies, Brumbies, New Zealander, Thomson Locations: Sydney, Australia, Australian, Brisbane, England, Melbourne

☆ Rising yields and war: Here's how to trade the volatility, according to fund managers
▼ + stars: | 2023-10-25 | by ( Weizhen Tan | ) www.cnbc.com time to read: +5 min

Market volatility looks here to stay: Yields are still rising, a war is raging, and it's uncertain whether interest rates will stay higher for longer. Go for bonds Though volatility in the bond market has led to losses, some fund managers are saying that it's time to get back into this asset class, given that yields are high. Money market funds typically include short-term Treasurys. Bond yields move inversely to prices — that means a peak in interest rates may signal that bond prices have bottomed. When interest rates rise, bond prices typically fall as existing bonds with lower yields become less attractive.

Persons: Investors, David Katz, Katz, Bryn Jones, there's, Jones, Hide, Paul Meeks, Meeks, Steven Glass, Glass, Marsh McLennan, he's, they're, — CNBC's Michael Bloom Organizations: Treasury, Bank of America, Matrix Asset, CNBC Pro, gilts, U.S . Federal, Treasury Bond ETF, Pella Funds, Group, ASM, Taiwan's Locations: Israel, United States, China, U.S, Pella, Germany, Netherlands

☆ Priced for earnings recession, European equities could weather storm
▼ + stars: | 2023-10-17 | by ( Joice Alves | ) www.reuters.com time to read: +5 min

After a long period of scepticism towards European equities, some investors and analysts are finding cause for optimism. European companies are expected to enter their first earnings recession - two consecutive quarters of falling earnings - since 2020. But European stocks are better priced for a recession than their U.S. counterparts, said Matthew McLennan, co-head of First Eagle’s Global Value team. First Eagle's McLennan said the weaker euro in part supported the outlook for European equities. "There's some possibility that European equities, by both their valuation and their currency valuation, could do better than U.S. equities over a period of time".

Persons: Jefferies, Mohit Kumar, LSEG, Matthew McLennan, Goldman Sachs, Oliver Collin, Europe's, Collin, LVMH, Ayesha Akbar, Eagle's McLennan, Joice Alves, Mark Potter Organizations: Silicon Valley Bank, Credit Suisse, Deutsche Bank, U.S, drugmaker Novo Nordisk, Fidelity, Thomson Locations: Frankfurt, Silicon, Germany, U.S

☆ The top battle-tested and defensive stocks to buy in an uncertain world, according to analysts
▼ + stars: | 2023-10-14 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Uncertainty reigns, but Wall Street analysts named a wide range of stocks this week that they believe are battle-tested buying opportunities. They include: Mattel , CBOE , Marsh & McLennan, Warner Music Group and O'Reilly Automotive. CBOE "A Strong Defensive Play In Uncertain Times," Piper Sandler analyst Patrick Moley headlined a report earlier this week devoted to CBOE. Warner Music Group Warner Music shares are down 7.5% this year, but investors should buy the dip, according to Deutsche Bank. Marsh & McLennan — Deutsche Bank, buy rating "A Defensive Stock with Growth Characteristics.

Persons: Piper Sandler, Patrick Moley, Moley, Piper, CBOE, Ben Black, Black, Marsh, McLennan, Cave, Montazeri, O'Reilly, Mattel, Morgan Stanley, Read Organizations: Street, CNBC, Mattel, McLennan, Warner Music Group, O'Reilly Automotive, Warner Music Group Warner Music, Deutsche Bank, Warner Music, Marsh, Deutsche, MMC, — Citi, McLennan — Deutsche Bank, Disney Locations: Marsh, 4Q23

☆ Regional banks are in focus in the week ahead as third-quarter earnings season ramps up
▼ + stars: | 2023-10-13 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

Regional banks will be in focus in the week ahead as traders head into the thick of third-quarter earnings season. Regional bank earnings are also expected to be a weak point this season. But a closer look into the sector's sub-industries showed that regional banks are anticipated to have tumbled by 15% last quarter. Traders parsing through regional bank earnings will pay special attention to signs of narrowing net interest margins (NIM). Earnings season underway Many investors anticipate that the third-quarter earnings season will be alright.

Persons: Wells, Kumar, FactSet's John Butters, NIM, They'll, JPMorgan Chase, Jamie Dimon, Goldman Sachs, Morgan Stanley, FactSet's Butters, Nancy Tengler, Lauren Goodwin, we'll, Goodwin, Charles Schwab, Lockheed Martin, Goldman, Zions, Kinder Morgan, Lam, McLennan, Philip Morris, Huntington Bancshares, —, Jesse Pound Organizations: Citigroup, JPMorgan Chase, Sri, Kumar, Silicon Valley Bank, Regional Banking, Dow Jones Industrial, JPMorgan, Hamas, Northern Trust, U.S . Bancorp, T Bank, Citizens Financial, Bank of America, Federal Reserve, Companies, Investments, New York Life Investments, Index, Johnson, Bank of New York Mellon, Goldman Sachs Group, Hunt Transport Services, Omnicom, United Airlines Wednesday, Housing, Elevance, Citizens Financial Group, Procter, Gamble, Abbott Laboratories, Discover Financial Services, Las Vegas Sands, PPG Industries, Steel Dynamics, Tesla, Netflix, Lam Research, Philadelphia Fed, Truist, Alaska Air Group, Fifth Third Bancorp, American Airlines Group, Marsh, Philip Morris International, Union, CSX, Comerica, Regions Financial, American Express, Interpublic, Cos Locations: Wells Fargo, Silicon, Ukraine, Israel, J.B, Las Vegas, Philadelphia, Truist Financial, Union Pacific, Freeport, Huntington

☆ This bearish fund manager thinks the U.S. is headed for a debt crisis. Here's what he's buying
▼ + stars: | 2023-10-05 | by ( Ganesh Rao | ) www.cnbc.com time to read: +5 min

The U.S. is headed for a major debt crisis due to its fiscal deficit being at the "worst structural point since World War II," according to value investor Matthew McLennan. Over the past two decades, the federal government had its smallest budget deficit of $0.16 trillion in 2007, just before the global financial crisis. The hedge Given his bearish view, McLennan prefers gold as an investment hedge. Stocks Beyond gold, McLennan said he sees value in stocks like Meta and Oracle , two of the top equity holdings in the Global Fund. McLennan said his fund has owned Oracle since it launched an AI-powered database five years ago.

Persons: Matthew McLennan . McLennan, McLennan, hasn't, it's, you've, Meta, OpenAI Organizations: Global Fund, Security, Treasury, Meta, Oracle, Nvidia, Microsoft Locations: U.S, United States

☆ CNBC Daily Open: Investors got a brief reprieve
▼ + stars: | 2023-10-05 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange during morning trading on October 04, 2023 in New York City. This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Stocks climbed, yields retreatedU.S. stocks climbed Wednesday and Treasury yields retreated, helping the Dow Jones Industrial Average break its three-day losing streak. Here's how he's planning to manage the risk, and what he's buying to hedge against possible losses.

Persons: Stocks, Kospi, payrolls, Marc, Antoine Julliard, Sam Bankman, Jim Jordan, Steve Scalise, Kevin McCarthy, Jordan's, Donald Trump, who's, Matthew McLennan Organizations: New York Stock Exchange, CNBC, Treasury, Dow Jones, Japan's Nikkei, ADP, FTX, Speaker U.S, Freedom Caucus, Former U.S Locations: New York City, Asia, Pacific, Former, U.S

☆ Watch CNBC's full interview with First Eagle Investments' Matthew McLennan
▼ + stars: | 2023-09-28 | by ( ) www.cnbc.com time to read: 1 min

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

Benefit consultants from Mercer, Aon (AON.N) and Willis Towers Watson (WTW.O) see employer healthcare costs jumping 5.4% to 8.5% in 2024 due to medical inflation, soaring demand for costly weight-loss drugs and wider availability of high-priced gene therapies. Benefit consultants help design insurance plans for medium and large employers. About two-thirds of U.S. workers receive benefits through such plans.Insurers UnitedHealth (UNH.N), Centene (CNC.N), Cigna (CI.N) and Elevance (ELV.N), which manage employer insurance plans, declined to comment for this story. Of its projected 8.5% increase in employer healthcare costs for next year, Aon anticipates 1 percentage point coming from weight-loss drugs alone. Gene therapy treatment of just one employee could significantly raise costs for a company, consultants said.

Persons: Srdjan, Willis Towers Watson, Mercer, Marsh McLennan, Beth Umland, Aon, Novo's Ozempic, Eli Lilly's, Janet Faircloth, Jodi Picoult's, Khushi Mandowara, Leroy Leo, Caroline Humer, Bill Berkrot Organizations: U.S, REUTERS, Reuters Graphics, Novo, Reuters, Employers, Thomson Locations: Ljubljana, Mercer, Aon, United States, Bengaluru

Work on an insurance mechanism follows Russia’s withdrawal from the Black Sea Grain Initiative last month, which threatens the safe passage of ships carrying grain to and from Ukrainian ports. To keep grain shipments moving, Ukraine’s government will share potential losses with insurers, which should make cover for travel through risky Ukrainian waters more affordable for commercial shipping companies. Russia’s withdrawal from the grain deal has had a chilling effect on merchant shipping around Ukraine’s three Black Sea ports as the Kremlin warned that ships leaving these ports might come under attack. And earlier this month a Russian warship fired warning shots and boarded a cargo ship in the Black Sea it claims was headed to Ukraine. Last week, the Hong Kong-flagged Joseph Schulte container ship became the first vessel to depart from any of Ukraine’s Black Sea ports since the grain deal broke down on July 17.

Persons: —, ” Oleksandr Hryban, Marsh McLennan, Marsh, Oliver Wyman —, Hryban, Marcus Baker, ” Baker, Crispin Ellison, Oliver Wyman, ” Marsh McLennan, Joseph Schulte, Volodymyr Zelensky, ” Organizations: Kyiv CNN —, United Nations, “, CNN, Initiative, Kremlin, ” Locations: Kyiv, Kyiv CNN — Ukraine, Ukrainian, Turkey, London, Marsh, Russia, Ukraine, Russian, Hong Kong, Odesa, ” Ukraine

☆ Warren Buffett, Michael Burry, and other top investors revealed striking portfolio changes this week. Here are 4 key trades.
▼ + stars: | 2023-08-19 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

Getty Images / Michael BucknerWarren Buffett's Berkshire Hathaway established stakes in a trio of homebuilders last quarter: Lennar, NVR, and DR Horton. The positions were worth a combined $814 million — a small bet in the context of Berkshire's roughly $350 billion stock portfolio. Buffett's portfolio managers, Todd Combs and Ted Weschler, were likely behind the purchases given their size. On the other hand, it exited its wagers on McKesson, Marsh & McLennan, and Vitesse Energy in the period. Buffett and his team also pared their positions in Activision Blizzard, Chevron, Celanese, General Motors, and Globe Life.

Persons: Warren Buffett Warren Buffett, Michael Buckner Warren, Berkshire Hathaway, DR, Todd Combs, Ted Weschler, Buffett Organizations: Getty, Capital, Occidental Petroleum, McLennan, Vitesse Energy, Activision Blizzard, Chevron, General Motors, Globe Locations: Capital One, Marsh, Celanese

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