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CNBC Daily Open: Nasdaq record, Tesla future value?
  + stars: | 2024-06-17 | by ( Abid Ali | ) www.cnbc.com   time to read: +3 min
Alain Jocard | AFP | Getty ImagesThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. This valuation, however, wouldn't be based on Tesla's success as an electric vehicle manufacturer, but rather as a robotics company. While Musk didn't provide a specific timeframe for this claim, he also suggested Tesla could reach a $5 trillion to $7 trillion valuation as a robotaxi company. In 2020, Tesla's worth even surpassed the combined value of Toyota, Volkswagen, Hyundai, GM, Ford and BMW.
Persons: Elon Musk, Porte, Alain Jocard, Elon, Tesla, Cathie Wood, Wood, CNBC's, Dan Ives, Chris Ailman, Ailman, CNBC's Michael Santoli, Jeff Cox, Michael Santoli, Jordan Novet, Katie Bartlett, Pia Singh, Riley de León, Spencer Kimball, Lisa Kailai Han, Brian Evans Organizations: SpaceX, Twitter, Porte de, AFP, Getty, CNBC, Toyota, Volkswagen, Hyundai, GM, Ford, BMW, California State Teachers, Nvidia, & $ Locations: Paris, Tesla
Read previewAnother major Tesla shareholder is publicly opposing Elon Musk's multibillion-dollar pay package just days before investors are set to vote on the enormous figure ahead of the automaker's annual shareholder meeting on Thursday. AdvertisementDespite Musk's other endeavors, Tesla remains a car company — and the automaker's output and stock valuation should reflect that, Ailman said. He designed the cars," Ailman told the outlet. Proxy advisors are recommending investors vote no on the pay package, advice which Tesla's passive investors — about 20% of investors in total — are likely to follow, Bernstein analyst Toni Sacconaghi told BI. "He wants to go to Mars," Ailman told CNBC.
Persons: , Elon Musk's, Christopher Ailman, Ailman, Tesla, Bernstein, Toni Sacconaghi, CalSTRS, Musk, Let's Organizations: Service, California State Teachers, CNBC, Business, Golden State, Tesla, Nvidia Locations: Delaware, California, Golden
CNBC Daily Open: Apple upgrades Siri with AI
  + stars: | 2024-06-11 | by ( Abid Ali | ) www.cnbc.com   time to read: +3 min
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Apple IntelligenceShares of Apple fell 1.9% after the iPhone maker delivered its long-awaited AI strategy. Siri will get an upgrade with Apple Intelligence and access to OpenAI's ChatGPT. Investors are concerned Apple had fallen behind its rivals, Microsoft and Google, in the race to deliver AI services and tools.
Persons: Goldman Sachs, Siri, Apple, Elon Musk's, Chris Ailman, CNBC's, Ailman, CalSTRS, Elliott, Moderna, Tesla, Elon, Bernstein Organizations: CNBC, Nasdaq, Technology, Nvidia, Meta, Microsoft, Dow Jones, Apple Intelligence, Apple, Investors, Google, California State Teachers, Elliott, Southwest, Elliott Management, Southwest Airlines, Boeing, Pfizer, Novavax Locations: U.S
CNBC Daily Open: Musk threatens Apple ban
  + stars: | 2024-06-11 | by ( Abid Ali | ) www.cnbc.com   time to read: +3 min
CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Technology stocks Nvidia, Meta and Microsoft boosted the indexes. Apple ban threatElon Musk threatened to ban Apple devices from his companies after Apple announced a partnership with OpenAI. Ailman suggested Musk should focus on one of his ventures and let professional managers handle Tesla's daily operations. The Taiwan Weighted index hit a record high, before paring back gains, as technology and utility stocks rose.
Persons: Elon Musk, Tesla, Goldman Sachs, Musk, Elon Musk's, Chris Ailman, CNBC's, Ailman, CalSTRS, Elliott, paring, Seng, Kospi, Morgan Stanley Organizations: New York Times DealBook, CNBC, Nasdaq, Technology, Nvidia, Meta, Microsoft, Dow Jones, Apple, OpenAI, California State Teachers, Elliott, Southwest, Elliott Management, Southwest Airlines, Boeing, CSI, Nikkei Locations: New York City, U.S, Asia, Taiwan, Pacific
Watch CNBC's full interview with CalSTRS' Chris Ailman
  + stars: | 2024-06-10 | 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 CalSTRS' Chris AilmanChris Ailman, California State Teachers Retirement Systems CIO, joins 'Squawk on the Street' to discuss Ailman's opposition to Elon Musk's $56 billion pay package, Tesla's business model, and much more.
Persons: CalSTRS, Chris Ailman Chris Ailman, Elon Organizations: Elon Musk's Locations: California
This pay package is ridiculous," Ailman said on " Squawk on the Street ." The vote this week is to effectively reinstate a 2018 pay package that was struck down by a judge in January. California State Teachers' Retirement System Chief Investment Officer Chris Ailman said the fund opposed the pay package previously and will do so again. The head of a massive California pension fund told CNBC on Monday that he is voting against the revised pay package for Tesla CEO Elon Musk. The billionaire has indicated that he might focus more on his other projects if the Tesla pay package is rejected.
Persons: Elon Musk, Tesla, Porte, Ailman, Chris Ailman, CalSTRS, Musk Organizations: Viva Technology, Porte de, California State Teachers, CNBC, Tesla, SpaceX Locations: Paris, France, California, Tesla, Texas
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHere's why CalSTRS is voting against Elon Musk's $56 billion Tesla pay packageChris Ailman, California State Teachers Retirement Systems CIO, joins 'Squawk on the Street' to discuss Ailman's opposition to Elon Musk's $56 billion pay package, Tesla's business model, and much more.
Persons: Chris Ailman, Elon Organizations: Elon Musk's Locations: California
Elon Musk's $56 billion pay package likely won't be approved by Tesla shareholders, according to Bernstein analyst Toni Sacconaghi. If the pay package is voted down, Tesla stock could fall 5%. AdvertisementTesla investors are set to vote this week on Elon Musk's astronomical pay package, but according to Bernstein analyst Toni Sacconaghi, it's not likely to be approved. According to Sacconaghi, Tesla stock could react negatively and fall about 5% if the package is voted down by shareholders. If Tesla does not receive approval for Musk's pay package, it could lead to a sell-off in the stock, Sacconaghi said.
Persons: Elon Musk's, Bernstein, Toni Sacconaghi, Elon, Sacconaghi, , it's, Tesla, Chris Ailman, let's, Ailman, He's, Dan Ivees Organizations: Tesla, Service, Elon, CNBC, Nvidia, Wall Street, Wedbush Securities
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHave to look at banks exposed to weak office real estate market, says CalSTRS' Chris AilmanChris Ailman, California State Teachers Retirement Systems CIO, joins 'Squawk on the Street' to discuss if Ailman is positioning for weakness in the economy, what's happening with CalSTRS real estate portfolio, and more.
Persons: CalSTRS, Chris Ailman Chris Ailman Locations: California
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailYou can make a decent return in fixed income, says CalSTRS' Chris AilmanChris Ailman, California State Teachers Retirement Systems CIO, joins 'Squawk on the Street' to discuss Ailman's appetite for equities, whether it's more attractive to lock in longer-term rates in today's market, and more.
Persons: CalSTRS, Chris Ailman Chris Ailman Locations: California
AI has boosted the stock market, says CalSTRS' Chris Ailman
  + stars: | 2023-09-20 | 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 EmailAI has boosted the stock market, says CalSTRS' Chris AilmanChris Ailman, California State Teachers' Retirement System CIO, joins 'Squawk on the Street' to discuss his take on the Federal Reserve's upcoming meeting, the officer's sense of what the Federal Reserve should do, and the private credit market.
Persons: CalSTRS, Chris Ailman Chris Ailman Organizations: California State Teachers, Federal Locations: California
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe Fed will likely pause after next week, there's still a 50-50 recession chance: CalSTRS' AilmanChris Ailman, CalSTRS CIO, joins 'Closing Bell Overtime' to talk the investing environment, the Fed's next move with rate hikes and the chance of a recession.
Persons: there's, Chris Ailman Organizations: CalSTRS
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPension funds pushing into venture capital as big investors eye a return to techCNBC's Deirdre Bosa sits down with Christopher Ailman, Calstrs CIO, join 'Power Lunch' to discuss pension funds being pushed into venture capitalists.
Persons: Deirdre Bosa, Christopher Ailman Organizations: Calstrs CIO
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Calstrs's Chris Ailman and Texas teachers' pension chief Jase AubyChris Ailman, CIO of Calstrs, and Jase Auby, CIO of Teacher Retirement System of Texas, join 'Last Call' to discuss the state of the U.S. economy, a possible recession, the Fed's next move, and the state of commercials real estate.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFed could pull off soft landing but it's 'not going to feel good', says Calstrs' Chris AilmanChris Ailman, CIO of Calstrs, and Jase Auby, CIO of Teacher Retirement System of Texas, join 'Last Call' to discuss the state of the U.S. economy, a possible recession, and the Fed's next move as we countdown to the upcoming FOMC meeting.
Pension funds, REITs, and insurers hold more than $1.2 trillion in commercial-real-estate debt. CalSTRS, a California pension fund, told the FT it will be writing down its real-estate portfolio. Among them are the large pension funds, REITs, and insurance companies, together accounting for more than $1.2 trillion — or 22% — of the $5.62 trillion in total commercial-real-estate debt outstanding, according to BofA Global Research. Some pension funds were already planning to reduce their exposures to commercial real estate even before the recent bank failures magnified the risks. In September, fund managers at Artemis Real Estate Partners and PGIM Real Estate said at a Bisnow conference that their investors indicated they'd be reducing allocations to real estate, just because the assets had been outperforming others.
A year into the most significant period of Federal Reserve rate hikes in decades, you might think investors had already cemented their investment portfolio strategies for a higher interest rate world. According to LACERA's 2022 annual report, its investments were split between roughly $24 billion in public equities, $19 billion in bonds, $13 billion in private equity, $6 billion in real estate, $4 billion in hedge funds and $1 billion in real assets. Last year was the first in the prior three fiscal years that the pension fund's investment portfolio lost money. By contrast, investment returns of 25.2% in 2021 were far ahead of the 7% percent, which LACERA attributed to the strong performance from global equity and private equity assets. A shift to more fixed income among top investors will flow through to the "whole economy," Grabel said.
Rising Rates Take Some Shine Off Private Markets
  + stars: | 2023-04-03 | by ( Heather Gillers | ) www.wsj.com   time to read: 1 min
After years of shifting money into private market investments, public pension and investment funds are taking a fresh look at publicly traded debt, thanks to the highest yields in more than a decade. “Bonds are back,” said California State Teachers’ Retirement System investment chief Christopher Ailman . He predicted that public pension funds will shift an additional 2% to 5% of assets into publicly traded debt, reversing a multidecade trend of shrinking fixed-income portfolios.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCalSTRS CIO Christopher Ailman on where the equity market is headedCALSTRS CIO Christopher Ailman discusses the equity markets, the potential for a global recession, and investment opportunities.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAilman: We're in for a long, tough recession with earnings likely coming down this quarterChristopher Ailman, Chief Investment Officer at CalSTRS, joins Worldwide Exchange to discuss markets, rising inflation, and central bank policy.
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