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☆ SVB got greedy and bought long-duration, low-interest-rate mortgages: Raging Capital Venture's Martin
▼ + stars: | 2023-03-16 | 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 EmailSVB got greedy and bought long-duration, low-interest-rate mortgages: Raging Capital Venture's MartinBill Martin, founder of Raging Capital Ventures, joins 'Power Lunch' to discuss what concerns he saw ahead of the Silicon Valley Bank collapse, the venture capital bubble and why SVB didn't take action on their losses sooner.

☆ SVB had roughly $16 billion in unrealized losses: Raging Capital Ventures' William Martin, who called its collapse
▼ + stars: | 2023-03-13 | 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 EmailSVB had roughly $16 billion in unrealized losses: Raging Capital Ventures' William Martin, who called its collapseBill Martin, the founder of Raging Capital Ventures, joins 'Halftime' to discuss Silicon Valley Bank's investment in low rate mortgages, the scale of SVB's unrealized losses and the venture capital response to the SVB collapse.

☆ Morgan Stanley's Mike Wilson says sell any bounce on this government intervention, next leg of bear market has begun
▼ + stars: | 2023-03-13 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

The bear is back and raging in the wake of the failure of Silicon Valley Bank , and poised to hit new lows, according to Mike Wilson, Morgan Stanley's chief investment officer. "We suggest selling any bounces on a government intervention to quell the immediate liquidity crisis at SVB and other institutions until we make new bear market lows, at a minimum." Still, Wilson sees a murky path ahead for the market, believing that earnings growth expectations remain "materially too high" and markets are more likely to "price that risk more quickly." An end to this volatile bear market won't come until investors see earnings disappointments priced in before those revisions appear, Wilson said. This could also mark the beginning of a sharp move in the earnings revision process that brings price-to-earnings multiples as low as 13 to 15 times and creates the "final low" for this bear market, he added.

☆ A 24-year-old stock trader who made over $8 million in 2 years shares the 4 indicators he uses as his guides to buy and sell
▼ + stars: | 2023-03-12 | by ( Laila Maidan | ) www.businessinsider.com time to read: +7 min

Jack Kellogg began trading stocks right out of high school in 2017. I'm just using basic trend lines, support, resistance, volume, and those are all my indicators," Kellogg said. By the time the stock market began to rally hard in 2020, he was ready to ride the upwards wave. He uses it on the daily chart as a guide to determine a good buy-in price for the stock he's trading. This gives him a better sense that the stock's price action will trend according to his thesis.

☆ A 2,000-year-old mummy was found dumped in the trash in Yemen with its insides ripped out
▼ + stars: | 2023-03-10 | by ( Marianne Guenot | Sam Tabahriti | ) www.businessinsider.com time to read: +3 min

A 2,000-year-old mummy was found dumped in the trash in Yemen. Local officials said the mummy was likely abandoned by grave robbers and antiquities smugglers. Yemen's General Organization of Antiquities and Museums (GOAM) on Wednesday blamed "tomb robbers and antiquities traffickers" for exhuming the artifact. Locals looking at the mummy found in the trash in Yemen. Yemen General Organization of Antiquities and MuseumsThe discovery has caused fury among locals, who have seen their rare historical artifacts threatened by the country's long-raging civil war, per the Saudi-Arabian daily Arab News.

☆ Ukraine war live updates: 'The enemy is raging,' Ukraine says, after Russia unleashes wave of drone and missile strikes across the country
▼ + stars: | 2023-03-09 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +2 min

A Russian serviceman guards an area of the Zaporizhzhia Nuclear Power Station in territory under Russian military control, in southeastern Ukraine, on May 1, 2022. The power supply to the Zaporizhzhia nuclear power plant was lost as a result of missile attacks on Ukraine. "The last line of communication between the occupied Zaporizhzhia NPP and the Ukrainian power system was cut off as a result of rocket attacks," Ukraine's state nuclear power company Energoatom said in a statement Thursday. This is the sixth time this has happened since Russian forces occupied the plant early on in the invasion of Ukraine. Russia unleashed a wave of drone and missile attacks across Ukraine overnight, with the capital Kyiv among the cities hit.

☆ Dutch historian finds medieval treasure using metal detector
▼ + stars: | 2023-03-09 | by ( Charlotte Campenhout | ) www.reuters.com time to read: +2 min

[1/4] Part of the 1000-year-old medieval treasure discovered in Hoogwoud, Netherlands, consisting of jewellery and silver coins, is shown in this undated handout picture obtained by Reuters. Archeologie West-Friesland/Handout via REUTERSAMSTERDAM, March 9 (Reuters) - A Dutch historian found a unique 1,000-year-old medieval golden treasure, consisting of four golden ear pendants, two strips of gold leaf and 39 silver coins, the Dutch National Museum of Antiquities (Rijksmuseum van Oudheden) announced on Thursday. Lorenzo Ruijter, 27, who told Reuters he has been treasure hunting since he was 10, discovered the treasure in 2021 in the small northern city of Hoogwoud, using a metal detector. "Golden jewellery from the High Middle Ages is extremely rare in the Netherlands," the museum also said. Given its archaeological significance, the treasure was given as a loan to the museum which will display it, but it will remain the official property of finder Lorenzo Ruijter.

☆ U.S. won't reach a new record in oil production 'ever again,' says Pioneer Natural Resources CEO
▼ + stars: | 2023-03-09 | by ( Ian Thomas | ) www.cnbc.com time to read: +4 min

Many oil companies have outlined production increases as part of spending plans this year, though oil companies are now in an era of greater fiscal discipline, not shy about signaling they will favor shareholder rewards like stock buybacks over higher production levels. "I think gas prices at the pump are not so bad at this price, so I think it's optimal," she said. The White House has pushed oil companies to use their record profits to ramp up production instead of on buybacks or increasing dividends. Biden said U.S. oil majors invested "too little of that profit" to ramp up domestic production to help keep gas prices down. "Instead, they used those record profits to buy back their own stock, rewarding their CEOs and shareholders."

"If corporate profits were to decline from the extremely high levels that we saw recently, would it be possible to sustain" growth in workers' benefits "even as we get inflation down to the target of 2%?" Democratic Senator Chris Van Hollen asked Powell during the Fed chief's semi-annual testimony before the U.S. Senate Banking Committee. "Wages affect prices and prices affect wages," Powell said, associating current earnings growth to the current ultra-low unemployment rate of 3.4%, and suggesting the labor market may need to weaken at least somewhat for inflation to fall. SHORTAGESUltimately, Powell said he felt profits would likely moderate on their own as the U.S. economy moves beyond the pandemic. "What we're seeing in the economy is pretty much about shortages ... supply chain blockages," Powell said.

It plans to offer SM shareholders 150,000 won ($115) per share. The artists are represented by SM Entertainment, which is currently in the midst of several shareholder disputes. Kakao and its Kakao Entertainment unit already currently hold 4.9% of SM, the company told CNN in a statement Tuesday. Kakao’s gambleKakao is pressing forward nonetheless, inviting SM shareholders to accept its tender offer, which ends on March 26. Its shares closed 3% lower in Seoul on Tuesday, while SM’s shares soared 15%.

☆ 2023 Lamborghini Urus Performante: Super-Sport Thrills That Aren’t So Cheap
▼ + stars: | 2023-03-03 | by ( Dan Neil | ) www.wsj.com time to read: 1 min

RAGING BULL Lamborghini has traditionally named its sports cars after famous fighting bulls, such as Gallardo, Aventador and Islero. For its first SUV of the modern era, the company chose Urus, a now-extinct species of wild bull. IT’S FUNNY the things you think of when you’re going like a bat out of hell in a red Lamborghini. The French painter William-Adolphe Bouguereau (1825-1905) was among the most celebrated pornographers of the 19th century. Trained in the French academic style, Bouguereau’s brushwork and powers of composition rivaled that of Italian masters Raphael and Titian.

☆ 'A bang, then chaos' - Greece train crash survivors tell of ordeal
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +3 min

[1/3] Rescuers operate at the site of a crash, where two trains collided, near the city of Larissa, Greece, March 1, 2023. Tuesday's crash 220 miles north of Athens killed at least 36 people when a high-speed passenger train heading to the northern city of Thessaloniki careered into a freight train from the opposite direction, flying off the track and bursting into flames. There were about 350 people on the train, which passengers described as being two-thirds full with many young people. "My child is not picking up the phone," one woman said as she waited at a train station in Thessaloniki. As morning broke, rescue crews trawled through a smouldering mangled mass of steel while cranes slowly removed pieces of the train.

☆ Premarket stocks: Meme stocks have revolutionized investor days
▼ + stars: | 2023-03-01 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

But they’re also bowing to pressure from retail investors to be more transparent. What’s happening: Investor days evolved from analyst days — meetings that large, public companies historically held privately for their core institutional investors and Wall Street analysts. But the recent influx of retail investors into the stock market has changed that. “A lot of these companies know they need to focus on retail investors now,” said Katie Perry, general manager of investor relations at investing platform Public. ▸ Tesla’s first-ever investor day will be live-streamed Wednesday from its Gigafactory in Austin, Texas.

☆ How US-supplied shells crammed with anti-tank mines helped defeat a brigade of Russian marines in the battle for Vuhledar
▼ + stars: | 2023-02-25 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +3 min

Ukraine's unexpected use of remote mines helped give it the upper hand in fighting in eastern Ukraine. Ukraine has been using US-supplied remote anti-armor mines fired in shells to destroy Russian tanks. The US has sent Ukraine at least 7,200 RAAM shells in its aid packages. Russian forces have struggled to counter Ukraine's mines, particularly RAAM shells raining from above. Despite multiple assaults, Russian forces appear to be floundering and facing mounting losses as Ukraine continues to push back.

☆ In Belgium's Ypres, a museum draws a line from World War One to Ukraine
▼ + stars: | 2023-02-24 | by ( Gabriela Baczynska | ) www.reuters.com time to read: +3 min

"There are more parallels between World War One and the war in Ukraine than we would like there to be." In World War One, the warring parties faced off across trenches for years. "It's almost absurd to be seeing similar trenches now in Ukraine," Lodewyck told Reuters. World War One's outcome and casualty count are set out in the history books. The exhibition in Ypres ends with a long list of armed conflicts from civil wars raging in the aftermath of World War One to World War Two to Syria.

☆ Warren Buffett’s must-read annual letter arrives Saturday. Here’s what to expect from the investing legend
▼ + stars: | 2023-02-24 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

Andrew Harnik | APWarren Buffett's loyal following of value investors is about to hear from the legend himself, at a crucial time when interest rates have soared and recession fears are raging. He believed that when interest rates are high, it could be a major "gravitational pull" on values. "We have a roughly 15-year period of abnormally and historically low interest rates. "Interest rates are the main determinant of equity prices, to quote Buffett, so I think I'm looking for and expecting a discussion on interest rates." "Private equity and others who are thinking of making acquisitions would have to go into the market to borrow [at] higher interest rates.

Regional rival Air New Zealand Ltd (AIR.NZ) also reported a swing to profit in the first half ended Dec. 31 on Thursday, along with a muted outlook. Qantas Chief Executive Alan Joyce said cost of living pressures would hit discretionary spending "at some point" but so far the airline expected robust demand into mid-2024 at least. Qantas said it was facing delays of up to six months in new aircraft deliveries from Airbus SE (AIR.PA) alongside other airlines around the world. The Australian carrier said it would bolster its fleet by acquiring some older Airbus planes and exercising nine options for A220 purchases to help meet travel demand growth. "Outlook for RASK is to reduce, however off what we estimate were elevated levels," said Citi analysts in a client note.

☆ Meta allowed a Kremlin-linked oligarch to run Facebook ads calling for uprisings against pro-Western government in Moldova
▼ + stars: | 2023-02-17 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +4 min

Meta allowed a Moldovan oligarch, sanctioned by the US, to run paid Facebook ads, per AP. Meta removed the ads, but only after they reached an audience of millions. The paid Facebook ads featured oligarch Ilan Shor, who now lives in Israel after being convicted of massive financial fraud. In one ad, Shor, who heads the pro-Russia Shor Party, can be heard accusing Sandu's government of corruption. Moldova was rocked by mass protests late last year, which were organized by the Shor Party, the largest of which took place shortly after the ads were placed.

☆ From meltdowns to break-ups, viewers are still talking about Tubi's divisive prank Super Bowl ad days after it aired
▼ + stars: | 2023-02-16 | by ( Jordan Hart | ) www.businessinsider.com time to read: +2 min

Tubi aired a cheeky prank commercial during Super Bowl LVII on Sunday that many are still discussing. The ad made viewers think the game was back, only to be interrupted by a switch to the Tubi app. Social media users are still cracking jokes and making serious points about reactions to the ad. Twitter and TikTok users are still talking about the Fox-owned streaming service's Super Bowl commercial days after the big game aired, after many say it successfully tricked them into thinking someone was controlling their TV. "The way that tubi commercial caused so many issues," one Twitter user wrote on Wednesday.

☆ A Russian marine who survived bitter fighting in Vuhledar says soldiers left alive are being treated like deserters: 'It would have been better if I had been captured'
▼ + stars: | 2023-02-16 | by ( Sinéad Baker | ) www.businessinsider.com time to read: +3 min

A Russian marine who survived a major battle in Vuhledar said survivors are treated as deserters. There were just eight survivors in one company, he told Russian media outlet 7x7. The marine, part of the 155th Marine Brigade of the Pacific Fleet, told Russian media outlet 7x7 that "it would have been better if I had been captured and never returned." So far things have not gone to plan, according to Russian military bloggers, Ukrainian officials, and reports of the battle. Ukrainian military drones have also captured the scenes of chaos, including Russian tanks running into minefields and being blown up, CNN reported.

☆ Top US general says Russia has already 'lost' the Ukraine war and has paid an 'enormous price on the battlefield'
▼ + stars: | 2023-02-14 | by ( John Haltiwanger | ) www.businessinsider.com time to read: +3 min

Gen. Mark Milley said Russia has "lost" in Ukraine as the war approaches the one-year mark. The top US general ripped into Moscow for launching an unprovoked invasion of Ukraine, emphasizing that Russia has paid an "enormous price on the battlefield" as a consequence. In short, Russia has lost — they've lost strategically, operationally, and tactically," Milley added. But Russian forces failed in that objective as Ukrainian troops put up a far stiffer resistance than expected. NATO Secretary General Jens Stoltenberg has warned that Putin is unfazed by the high rate of casualties and is vying to overwhelm Ukrainian forces with sheer numbers.

☆ The artificial intelligence war has Wall Street in a frenzy over Google, Microsoft, and anything related to bots
▼ + stars: | 2023-02-13 | by ( Phil Rosen | ) www.businessinsider.com time to read: +7 min

In case you missed it, last week Microsoft held an event that had the buzz of a Steve Jobs iPhone launch. Google Bard VS OpenAI ChatGPT displayed on Mobile with Openai and Google logo on screen seen in this photo illustration. In this two-horse race, Google certainly didn't do itself any favors in bumbling its own AI demo last week. But the battle will ultimately come down to Microsoft and Google, according to venture capitalist Vinod Khosla. Record highs for the stock market are within reach this year, according to Fundstrat.

☆ Ukraine holds defense as battles rage in Donetsk region, top commander says
▼ + stars: | 2023-02-12 | by ( ) www.cnbc.com time to read: +2 min

A tank moves on a road as Russia-Ukraine war continues in Kostiantynivka, Ukraine on February 08, 2023. Ukraine's forces hold defense along the frontline in Donetsk, including of the besieged town of Bakhmut, with the fiercest battles raging for the cities of Vuhledar and Maryinka, Kyiv's top military commander said on Saturday. "Fierce fighting continues in the area of Vuhledar and Maryinka," Zaluzhnyi said in a Telegram message after a call with U.S. General Mark Milley. He added that Ukraine continues to hold Bakhmut, tying to "stabilize" the frontline around the town. Wagner's head, Yevgeny Prigozhin, said it could take two years for Moscow to control the whole of the Donetsk and Luhansk regions in Ukraine.

☆ Russia has likely suffered its highest rate of casualties since the beginning of the war in the past 2 weeks, UK Defense Ministry says
▼ + stars: | 2023-02-12 | by ( Alia Shoaib | ) www.businessinsider.com time to read: +3 min

In the last 2 weeks, Russian casualties are likely the highest since the war began, the UK said. The Ukrainian General Staff estimated that the mean average for the last seven days was 824 Russian casualties. While it is difficult to accurately track the death toll of the war, Western officials estimate that Russia could be approaching nearly 200,000 casualties. A Ukrainian soldier fires towards Russian positions outside Bakhmut, Ukraine, on November 8, 2022. Although Prigozhin does not speak for the Russian military, his comments provide insight into Russian expectations of the war.

☆ Ukraine holds defence as battles rage in Donetsk region, top commander says
▼ + stars: | 2023-02-11 | by ( Nick Starkov | ) www.reuters.com time to read: +2 min

LVIV, Ukraine, Feb 11 (Reuters) - Ukraine's forces hold defence along the frontline in Donetsk, including of the besieged town of Bakhmut, with the fiercest battles raging for the cities of Vuhledar and Maryinka, Kyiv's top military commander said on Saturday. Valeriy Zaluzhnyi, commander-in-chief of Ukraine's Armed Forces, said Russia carries out some 50 attacks daily in Donetsk, a region in Ukraine's southeast that Moscow has been trying to occupy fully. "Fierce fighting continues in the area of Vuhledar and Maryinka," Zaluzhnyi said in a Telegram message after a call with U.S. General Mark Milley. He added that Ukraine continues to hold Bakhmut, tying to "stabilise" the frontline around the town. Wagner's head, Yevgeny Prigozhin, said it could take two years for Moscow to control the whole of the Donetsk and Luhansk regions in Ukraine.

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