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Leading fund managers Brian Yacktman and Elliott Savage broke through by sticking to their strategies. The pair looks for growth stocks that have pricing power and aren't too expensive. 14 top stocks to buy nowInvestors in search of those so-called boring stocks with steady growth, pricing power, and reasonable valuations are in luck. The fund managers like Mastercard (MA) and Visa (V), which function very much like toll collectors in the global payments space. Both enjoy the tremendous advantage of scale that wards off would-be competitors and positions them for future growth, in the fund managers' view.
But instead of basking in the success and recognition he's received recently, Miller told Insider that he's most excited about the outside-the-box investing strategy that he's concocted. Become a champion investor by playing defense — and making these 6 movesThe investing strategy Miller uses is related to an old sports adage: offense sells tickets, but defense wins championships. The defensive component of Miller's fund is more sophisticated. Currently, Miller's fund is following this method by selling bond futures contracts, which is a hedge against higher interest rates. If Markowitz saw Miller's fund, he may be proud.
“Russian diamonds are not forever,” European Council President Charles Michel said on the sidelines of the G7 summit in Hiroshima, Japan, on Friday. Tatyana Makeyeva/ReutersA ban on Russian diamonds could inflate prices for European consumers, especially if diamond production elsewhere doesn’t ramp up. The biggest task facing Europe is how to design an air-tight ban that prevents Russian diamonds from arriving in the bloc through circuitous routes. “There are a lot of Russian diamonds that still get sold within the American economy,” he said. “If you really want to close loopholes, you need to find a system that prevents [Russian] diamonds going to the G7 market,” Neys said.
At least that's the thinking of a small but growing chorus of voices on Wall Street who outline the case for further stock market gains after both the S & P 500 and Nasdaq Composite touched nine-month highs this past week. The VIX was trading around 16-17 late this week, signaling no great fear among professional traders. Walmart and other retailers this week highlighted consumers are spending less freely, but they're still spending , and that drives two thirds of the economy. Even Mark Haefele, chief investment officer at UBS Global Wealth Management, wrote late this week that he has to entertain what could go right in markets, despite the fact his own view is fundamentally bearish. If that "upside scenario" happens, UBS sees global stocks moving 13% higher by the end of December, and the S & P 500 surging another 6% — to north of 4,400.
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Investors should take a long-term view of the market, according to Luke Barrs of Goldman Sachs Asset Management. A long-term focus keeps Barrs level-headed when faced with a constant barrage of concerns that leads some to panic-sell. 6 places to put your money right nowAfter breaking down his investing philosophy, Barrs shared six investments he likes right now. Going forward, emerging markets stocks should benefit from a weaker US dollar, stronger earnings, and China's continued economic reopening, which is leading to a tourism boom. Within emerging markets, Barrs especially likes India.
Many homebuyers are priced out of US major cities as mortgage rates and inflation remain high. Here are 69 towns outside of New York City, Boston, or DC where houses are relatively affordable, according to a new report. Homebuyers hunting for reasonably priced properties near major cities should look east. Below are 69 suburban towns within 30 miles of New York, Boston, or Washington, DC, where home prices are less than half the price of their corresponding city on a per-square-foot basis. Along with each is its median price per square foot and the price and percentage differences from its city.
Former NBA player Enes Kanter Freedom doesn't want to hear Elon Musk talk about free speech. The Turkish-American said Musk is "bowing down to a dictatorship" by blocking tweets in Turkey. "I don't want to hear about Elon Musk talking about free speech ever again," Freedom said on CNN This Morning. "Turkish government called Elon to pretty much tell him, 'If you don't ban a couple accounts, then we are going to shut down the whole app in Turkey,'" Freedom added. "The whole country is saying enough is enough because we want to go back to democracy and freedom again," Freedom said on CNN.
Hedge fund manager Alex Roepers has scored a 3,500% return in the last 30 years. Here are four stocks that the top hedge fund manager is bullish on right now. Investors who think the S&P 500's 1,900% return over the past three decades is impressive must not be familiar with the work of hedge fund manager Alex Roepers. Those tenets set a high bar for what companies can qualify for inclusion in Roepers' fund. The hedge fund manager said he looks to enter investments when they're trading at 5x-6x EV/EBITDA or 7x-8x EV/EBIT, before exiting them at 8x-9x EV/EBITDA or 11x-13x EV/EBIT.
New York CNN —A wrongful death lawsuit filed against several social media companies Friday alleges that social media lent to the radicalization of the gunman who shot and killed 10 people at a grocery store in Buffalo, New York, last May. “However, the social media platforms that radicalized him, and the companies that armed him, must still be held accountable for their actions. Speaking to CNN Sunday, Buffalo Mayor Byron Brown commended some of the victims’ families and survivors for tackling extremism on social media platforms. We deliberately designed Snapchat differently than traditional social media platforms and don’t allow unvetted content to go viral or be algorithmically promoted. The lawsuit alleges that social media platforms “Meta, Alphabet, Reddit and 4chan earned advertising revenue from hosting and amplifying” Gendron’s video on their platforms.
That realization led portfolio manager David Miller to launch the Catalyst Insider Buying Fund (INSIX) nearly 12 years ago. While many funds factor in insider transactions when selecting stocks, few use it as their main prerequisite when screening investments. But in the last 12 months, it's the best-performing large-cap fund on the market through April 30, according to Kiplinger. All of these companies have benefitted from insider buying to some extent, but some have been lifted even more by company buybacks. "They've just been gobbling up their own stock," Miller said of O'Reilly Automotive.
We're going to win this fight," Biden said at a flag-bedecked event at Westchester Community College in Valhalla, New York. Republicans are vowing to support raising the debt ceiling only if Biden agrees to retroactive reductions in government spending. Biden wants the debt ceiling lifted without spending cuts attached, but said he wants to negotiate the next budget. White House aides are meeting with congressional leaders' staff in Washington daily before Biden and the leaders meet again on Friday. Democrats view Republican House members who narrowly won election as possibly vulnerable to being pressured into breaking with their party's leadership and voting for a bill to raise the debt ceiling without conditions.
U.S. Rep. George Santos is expected to appear in federal court on Wednesday in Central Islip, N.Y.. Photo: Nathan Howard/Bloomberg NewsRep. George Santos (R., N.Y.) surrendered to federal authorities on Wednesday to face criminal charges that he embezzled contributions, fraudulently obtained unemployment benefits and lied on federal disclosure forms. Mr. Santos, who represents a district on Long Island, is expected to appear in federal court in Central Islip, N.Y., later on Wednesday. An indictment was unsealed charging Mr. Santos with seven counts of wire fraud, three counts of money laundering, one count of theft of public funds, and two counts of making materially false statements to the House of Representatives.
New York Rep. George Santos surrendered to federal authorities on Wednesday after being criminally charged with fraud. Photo: Nathan Howard/Bloomberg NewsRep. George Santos, accused of fabricating much of his life’s story to secure public office, was indicted Wednesday on federal charges that he embezzled contributions, fraudulently obtained unemployment benefits and filed false federal disclosure forms. The New York Republican, who was elected last year to represent parts of Long Island and Queens in Congress, surrendered to authorities Wednesday morning and pleaded not guilty in federal court in Central Islip, N.Y., in the afternoon. A 13-count indictment charged Mr. Santos with seven counts of wire fraud, three counts of money laundering, one count of theft of public funds, and two counts of making materially false statements to the House of Representatives.
Mexico has let tens of thousands of people cross its territory on their way to the American border since early April, government data shows, a major uptick before the expiration of a U.S. immigration measure that has kept most migrants from being able to claim asylum in the United States. The increase comes as local aid groups and migrants say that over the last several weeks people heading north have been crossing more easily into Mexico from Guatemala, the main route to the United States, with Mexican security forces abandoning some of their outposts on the country’s southern border. The jump in people allowed to cross Mexico, coupled with the reduced security footprint, has likely contributed to the soaring numbers of migrants gathered at the U.S.-Mexico border as the Biden administration prepares on Thursday night to lift a pandemic-era restriction called Title 42 that has allowed the United States to quickly expel those trying to cross the border illegally. Mexico’s Foreign Ministry and National Institute of Migration did not respond for requests for comment about any changes to the government’s immigration policy.
Slight moderations in mortgage rates have also improved home affordability. Still, homebuyers across the country can celebrate the apparent peak in mortgage rates, which have an outsized influence on home affordability. Thirty-year fixed mortgage rates swung between 6.1% and 6.7% in the first quarter, according to the NAR. Mortgage rates topped out in late 2022 but remain elevated. Below are the 28 metro areas where home prices decreased by over 5% on a year-over-year basis in the first quarter of 2023, according to the NAR.
May 10 (Reuters) - Shares of highly shorted Upstart Holdings (UPST.O) jumped 32% in premarket trading on Wednesday, squeezing out bearish investors, after the artificial intelligence-driven lending marketplace secured an additional $2 billion in funding. "(The) committed funding agreements are a concrete step towards stabilizing Upstart's business," said James Faucette, analyst at Morgan Stanley, raising its price target on the stock to $13 from $10. At current levels, short sellers stand to lose about $122 million, according to analytics firm Ortex. When there is a rush of demand from short sellers looking to exit bearish bets due to a rise in a stock's price, it pushes prices even higher, resulting in a short squeeze. The company's net loss per share, excluding items, was 47 cents, beating analysts' estimates of 81 cents loss per share, according to Refinitiv.
May 10 (Reuters) - Shares of highly shorted Upstart Holdings (UPST.O) jumped 32% in early trading on Wednesday, squeezing out bearish investors, after the artificial intelligence-driven lending marketplace secured an additional $2 billion in funding. "(The) committed funding agreements are a concrete step towards stabilizing Upstart's business," said James Faucette, analyst at Morgan Stanley, raising its price target on the stock to $13 from $10. At current levels, short sellers stand to lose about $122 million, according to analytics firm Ortex. "With the price in Upstart jumping up over 30%, some short sellers will try to close their positions... adding additional buy pressure on the stock," said Peter Hillerberg, co-founder of Ortex. The company's net loss per share, excluding items, was 47 cents, beating analysts' estimates of 81 cents loss per share, according to Refinitiv.
Crypto imploded in 2022, as investors lost faith in digital assets and the industry was plagued with crisis. But unlike other collapses, it has largely avoided rippling into other markets. Illustration: Mallory BranganA former Coinbase employee was sentenced to two years in prison for his role in what federal prosecutors called the first-ever insider-trading case involving cryptocurrency. Ishan Wahi , 32 years old, previously pleaded guilty in a New York federal court to two counts of conspiracy to commit wire fraud for tipping off his brother and a friend to confidential information that he gained at his job at the crypto exchange. The tip recipients, co-defendants in the case, used the information to trade on digital tokens, making nearly $1.5 million in profits, according to federal prosecutors from the Manhattan U.S. attorney’s office.
In an edited deposition video released as a trial exhibit in the civil rape case against former President Donald Trump, he said that looking “over the last million years” it has been largely true that celebrities can grab women by the genitals. Photo: Trial ExhibitA federal jury is expected to begin its deliberations Tuesday after a civil trial in which writer E. Jean Carroll alleged former President Donald Trump raped her in a department-store dressing room in the 1990s, then damaged her reputation after she went public with her account of the incident. The nine-member jury, which heard testimony over two weeks, will weigh Ms. Carroll’s claims for battery and defamation, which she made in a 2022 lawsuit. Its deliberations are expected to start late in the morning, after the presiding judge gives jurors about an hour of legal instructions.
Sam Bankman-Fried arrived at Manhattan Federal Court for a court appearance in March. Photo: Michael M. Santiago/Getty ImagesFTX founder Sam Bankman-Fried asked a New York federal judge to dismiss most of the criminal case against him, saying the Justice Department brought flawed charges in a rush to indict him after the collapse of the crypto exchange. Lawyers for Mr. Bankman-Fried, in a series of motions Monday night, requested that many of the counts against their client be tossed out, arguing that some charges violated the terms of his extradition from the Bahamas while others didn’t meet the legal requirements of underlying criminal statutes.
In an edited deposition video released as a trial exhibit in the civil rape case against former President Donald Trump, he said that looking “over the last million years” it has been largely true that celebrities can grab women by the genitals. Photo: Trial ExhibitA federal jury began its deliberations Tuesday after a civil trial in which writer E. Jean Carroll alleged former President Donald Trump raped her in a department-store dressing room in the 1990s, then damaged her reputation after she went public with her account of the incident. The nine-member jury, which heard testimony over two weeks, will weigh Ms. Carroll’s claims for battery and defamation, which she made in a 2022 lawsuit. Its deliberations began at 11:50 a.m., after the presiding judge gave jurors about an hour of legal instructions. The jury, consisting of three women and six men, must reach a unanimous verdict, the judge said.
In an edited deposition video released as a trial exhibit in the civil rape case against former President Donald Trump, he said that looking “over the last million years” it has been largely true that celebrities can grab women by the genitals. Photo: Trial ExhibitA federal jury began its deliberations Tuesday after a civil trial in which writer E. Jean Carroll alleged former President Donald Trump raped her in a department-store dressing room in the 1990s, then damaged her reputation after she went public with her account of the incident. The nine-member jury, which heard testimony over two weeks, will weigh Ms. Carroll’s claims for battery and defamation, which she made in a 2022 lawsuit. Its deliberations began at 11:50 a.m., after the presiding judge gave jurors about an hour of legal instructions. The jury, consisting of three women and six men, must reach a unanimous verdict, the judge said.
In an edited deposition video released as a trial exhibit in the civil rape case filed by E. Jean Carroll against former President Donald Trump, he said that looking “over the last million years” it has been largely true that celebrities can grab women by the genitals. Photo: Trial ExhibitA federal jury found Donald Trump liable to E. Jean Carroll for battery and defamation and ordered him to pay $5 million in damages, after a civil trial in which the columnist alleged the former president raped her in a Manhattan department store nearly 30 years ago. The jury, following a two-week civil trial, didn’t find that Mr. Trump committed rape but found it more likely than not that he sexually abused Ms. Carroll in a dressing room of Bergdorf Goodman, sometime around 1996. Jurors also found that Mr. Trump defamed Ms. Carroll in comments he made denying her allegations, which she first made publicly in 2019.
Berkshire Hathaway had a successful annual meeting following its Q1 earnings report. Warren Buffett's Berkshire Hathaway had its "best annual meeting in years" over the weekend, according to UBS analyst Brian Meredith — and it wasn't just because of its strong earnings report. 5 top takeaways from Berkshire Hathaway's annual meetingStrong earnings results were just one impressive component from Berkshire Hathaway's annual meeting. "We viewed Berkshire's 2023 annual meeting as the best in several years with quality questions and insightful answers," Meredith wrote. After BNSF undershot on volumes and suffered from higher compensation costs, Berkshire investors may start to wonder if the company would reconsider its stance against PSR.
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