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☆ This fund beat the S&P 500 without holding any Magnificent 7 stocks. Here's what they're buying right now
▼ + stars: | 2024-02-29 | by ( Ganesh Rao | ) www.cnbc.com time to read: +5 min

Picking great stocks and avoiding disastrous investments enabled the Ranmore Global Equity Fund to beat the S & P 500 over the past two years, according to its fund manager. The fund, run by portfolio manager Sean Peche, returned 31% in 2023 compared to 24% for the S & P 500 . The Ranmore fund also outperformed its benchmark with 1.8% total returns in 2022 when the S & P 500 and broader indexes nearly fell into a bear market. The fund manager says they take a probability-based approach with many small positions rather than a few big bets. However, according to the fund manager, the market appears to be undervaluing its cash and securities.

Persons: Sean Peche, Peche, Andrew, there's, Where's, Ranmore, it's Organizations: Ranmore Global Equity Fund, Microsoft, Meta, Petrobras, Japan's Nippon TV, GSK, eBay, of, Bank of America, UBS, Carrefour, ABN AMRO, Nippon Locations: Wall, of London, Europe, Ukraine, U.S, Japan, Holland, Netherlands

☆ This Big Tech stock has an 'absolutely compelling' valuation, top fund manager says
▼ + stars: | 2024-02-28 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

However, the company's revenues and profits have surged since then, and one outperforming fund manager sees the current valuation as a buying opportunity. Alibaba shares are traded in the U.S., Hong Kong and Germany. BABA 1Y line The slump in the company's share price came amid concerns of an economic slowdown in China and increased regulation of the internet sector by authorities in Beijing. Alibaba's cheap share buyback Lapping also pointed to the impact of Alibaba's share buyback program as distinct compared to many richly valued U.S. tech darlings. However, with its share price now 65% off its peak, Alibaba's compensation costs have dwindled dramatically.

Persons: Sean Peche, BABA, It's, Andrew Organizations: Ranmore Fund Management, Wall Street, Tech, Ranmore Global Equity Fund Locations: China, U.S, Hong Kong, Germany, Beijing

☆ Life on the Edge of the Menu and More: The Week in Reporter Reads
▼ + stars: | 2023-04-28 | by ( ) www.nytimes.com time to read: +1 min

Eric Kim has a strategy for how he approaches restaurants: Live life on the edge of the menu. Just because a restaurant is known for one thing doesn’t mean you can’t order something else. Sometimes the oddity on a menu might be the chef’s passion project, which is reason enough to order it. When Mr. Kim visited the city for a friend’s wedding in January, his eyes gravitated toward the citrus-glazed turnips. Who knew that the star of his seafood lunch would be a side dish of turnips?

For more than 70 days this summer, a marine heatwave cooked the waters of the western Mediterranean. "We've been witnessing marine heatwaves during the last 20 years," said Garrabou, who's also coordinator of the T-MEDNet marine monitoring network. A 2016 marine heatwave along Chile's southern coast caused huge algae blooms that wiped out fish farms and cost the aquaculture industry some $800 million, said scientist Kathryn Smith with the Marine Biological Association of the United Kingdom. As the world warms, marine heatwaves are expected to become more frequent, according to the U.N. Intergovernmental Panel on Climate Change. Though economists have yet to account fully for the impacts of marine heatwaves, recent experience has many concerned.

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