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☆ Where Paul Wick, seasoned tech stock investor, is raising his bets now
▼ + stars: | 2023-03-12 | by ( Sarah Min | ) www.cnbc.com time to read: +9 min

So when a position opened up at the Seligman Communications and Information fund, the firm's then-chief investment officer asked Wick to take it over. Today, the Columbia Seligman Technology and Information fund (CCIZX) that Wick began running on New Year's Day in 1990, has $8.5 billion in assets under management. "It's really hard to guess how will the technology industry change in five years. By now, Wick has relationships going back decades in the tech industry. As of January, the Technology and Information fund held 2.96% of its assets in Bloom, up from 2.36% in October.

Big investors including Kyle Bass and Bill Ackman argue the government must take quick action to avoid Silicon Valley Bank's collapse sparking more widespread withdrawals in the banking system. That could be determined by how hard the world's central banks continue to push interest rates higher. The market is signaling contagion could factor into the Fed's calculus, possibly prompting it to slow down the pace of interest rate hikes. Silicon Valley Financial Group was deeply woven into the fabric of the technology industry. Bass and Ackman separately warned that the government would have to move quickly in resolving Silicon Valley Bank to assure depositors.

☆ SVB rivals pounce, pitching startups on moving their money away from the struggling bank
▼ + stars: | 2023-03-10 | by ( Ben Bergman | Darius Rafieyan | ) www.businessinsider.com time to read: +4 min

With Silicon Valley Bank in crisis, rivals pounced, publicly encouraging tech clients to move their money. SVB lends money to startups and keeps their cash deposits, so they can pay staff and other expenses. If startups are worried the bank can't give them all their money back from their bank accounts, then they might pull their accounts. The banker described their phone ringing off the hook Thursday with panicked startup founders and CEOs desperate to move their money away from SVB. "We also left our own money in SVB," Mark Suster, managing partner at Upfront Ventures tweeted Thursday.

March 10 (Reuters) - Greg Becker, the chief executive officer who presided over the collapsed Silicon Valley Bank, joined the company three decades ago as a loan officer. Becker graduated from Indiana University with a bachelor's degree in business, according to Silicon Valley Bank's website. When his manager left to work for Silicon Valley Bank, Becker followed, he said in 2021 on a Bloomberg podcast. Representatives for Silicon Valley Bank did not immediately respond to a request for comment. Before becoming president and CEO of SVB Financial Group, Becker co-founded SVB Capital, the company's investment arm.

☆ You could profit by investing in 'extremely disruptive' AI tech, experts say—here's how
▼ + stars: | 2023-02-22 | by ( Ryan Ermey | ) www.cnbc.com time to read: +1 min

Your instinct may be to pick a few stocks you think look promising and buy those. But if you look back to the dotcom era, you may realize that's a risky proposition. For every investor who got rich buying into Amazon early, there's another who lost a fortune betting on Pets.com. It can range from a specific technology or business, such as cloud computing, to something as broad as the shift to working from home. "Artificial intelligence is a technology that's likely to be extremely disruptive," he says.

☆ Microsoft and Google promised to invest in these communities. Now they’re backtracking
▼ + stars: | 2023-02-14 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +11 min

Hyosub Shin/The Atlanta Journal-Constitution/ZUMA Press WireFacebook-parent Meta, Microsoft, Salesforce and Snap have each shuttered offices or announced plans to cut back on real estate, according to recent corporate announcements, filings and local news reports. But residents also had cautious optimism about the benefits Microsoft promised to the community, according to Hope. Hope’s community isn’t alone in confronting the whiplash of Silicon Valley’s real estate pullback. An office sits vacant on October 27, 2022 in San Francisco, California. The US Census Bureau reports an estimated 35% of employees in San Francisco and San Jose continue to work from home.

☆ Tech, housing, and manufacturing might already be in a recession. They could bring the US economy down with it.
▼ + stars: | 2023-02-04 | by ( Jacob Zinkula | ) www.businessinsider.com time to read: +6 min

But the tech, housing, and manufacturing industries might be already. "We have a manufacturing recession, a housing recession, a tech recession," she said in a Bloomberg post last week. In this scenario, parts of the economy would "take turns suffering rather than simultaneously" — and the broader economy would never reach recession status. There were over 55,000 reported tech layoffs during the first 20 days of January, more than the entire first half of 2022. It's led some to declare that a "tech recession" is already upon us.

☆ Glossier, Ugg, Le Creuset: Product releases this week
▼ + stars: | 2023-02-03 | by ( Krystin Arneson | ) edition.cnn.com time to read: +8 min

There are a ton of great products that drop every week — and we’re here, as always, to keep you up to date on the best of them. This week brings the launch of Otherland’s ’90s-inspired candle collections, Ikea’s stunning collab with Sabine Marcelis and Le Creuset’s new matte navy cookware. Shop our favorite new releases below, but be fast — they’re prone to selling out. The $90 device comes in black, white, brushed steel and brass, so it’s also easy to match to your kitchen fixtures. Loungewear-meets-streetwear from the expertsUggIf anyone knows a thing or two about creating comfortable things to wear, it’s Ugg.

[1/2] Men walk past an electric board displaying Nikkei and other countries' indexes outside a brokerage in Tokyo, Japan January 16, 2023. After $14 trillion was wiped off world shares in 2022, $4 trillion has been added back this month. "Markets are in this Goldilocks-scenario of OK growth, slowing inflation and softer monetary policy," said Richard Dias, founder of London-based investment consultancy Acorn Macro. Major central banks have added almost 3,000 basis points to global borrowing costs in this tightening cycle to date. "We've had a monumental rally in government bonds based on expectations we've reached the peak in interest rates," he said.

chartHeadline and core PCE annual inflation rates in December were 5.0% and 4.4%, respectively. Under Chair Ben Bernanke in January 2012, the Fed formalized its annual inflation target: 2% PCE annual rate. The Fed's inflation target for 25-30 years, therefore, has been core or headline PCE of 2%, informally or formally, unwritten or written, unofficially or officially. But many rate-cutting episodes since 1990 came with PCE inflation above 2%, in some cases substantially higher. - In September 2007 the Fed started easing policy to mitigate the U.S. housing crash and global credit crunch, with rates at 4.75%.

☆ The first ETF is 30 years old this week. It launched a revolution in low-cost investing
▼ + stars: | 2023-01-23 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

Thirty years ago this week, State Street Global Advisors launched the Standard & Poor's Depositary Receipt (SPY), the first U.S.-based Exchange Traded Fund (ETF), which tracked the S&P 500. How ETFs differ from mutual fundsHolding an investment in an ETF structure has many advantages over a mutual fund. The reason was mutual funds and broker-dealers quickly realized there was little money in the product. On November 18, 2004, the StreetTracks Gold Shares (now called SPDR Gold Shares , symbol GLD) went public. CNBC's Bob Pisani on the floor of the New York Stock Exchange in 2004 covering the launch of the StreetTRACKS Gold Shares ETF, or GLD, now known as the SPDR Gold Trust.

☆ Glossier changed its beloved lip balm, igniting fury among its most loyal fans
▼ + stars: | 2023-01-18 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +4 min

Glossier reformulated Balm Dotcom, a star product and fans are voicing their frustration. Some fans say the lip balm no longer works as well and are accusing the company of ignoring its customers. Glossier has gone through several changes over the past year, including a new CEO and a deal with Sephora. The reformulated balm, or BDC as fans call it, will have a redesigned applicator tip and a "new clinically-tested hydrating, vegan formula," Glossier wrote in an Instagram post. In addition, Glossier is discontinuing the cherry-flavored balm, a popular flavor that had a sheer, red tint.

☆ A simple reason why stocks are off to a good start: History shows the S&P rebounds after down years
▼ + stars: | 2023-01-03 | by ( John Melloy | ) www.cnbc.com time to read: +1 min

There's a simple reason why sentiment is bullish in the market Tuesday with little fresh news or data for investors to evaluate: History shows the S & P 500 tends to bounce — often significantly — after down years. A look at the data since World War II shows when the S & P 500 declines more than 1% in a single year, it rebounds on average by 15% in the next year. Some investors think we could be in a similar period, where the Covid inflationary excesses need multiple years to be worked off. Plus, the market since the 1940s has never bottomed before an official recession hits . Many investors see the market unwinding to the lows again as an official recession takes hold this year.

☆ After a very quiet 2022, these are the five tech startups that could go public in 2023, according to bankers and tech market experts
▼ + stars: | 2023-01-03 | by ( Stephanie Palazzolo | Ben Bergman | ) www.businessinsider.com time to read: +4 min

In a bleak market, some startups are turning to sellsides or letting go of IPO lawyers. Many companies that were looking to go public are now pausing IPO efforts due to falling public and private valuations, according to five investors, bankers, and tech market experts Insider spoke with. This year hasn't been a total wash for the tech IPO market. Some expected Mobileye's IPO to open the public market floodgates. Here are five companies that could end the 2022 IPO winter, according to people close to the tech markets who spoke with Insider.

"As counterintuitive as it may sound, this layoff left me in a really good position," the 24-year-old said. U.S. tech giants including Meta, Microsoft (MSFT.O), Twitter and Snap (SNAP.N) have purged more than 150,000 staff, according to Layoff.fyi, which tracks technology job losses. Day One Ventures, an early stage venture fund in San Francisco, launched a new initiative in November to fund startups founded by people who had been laid off from their tech jobs, touting the slogan "Funded, not Fired". Silicon Valley investor U.S. Venture Partners and Austrian VC firm Speedinvest have meanwhile earmarked a similar amount for newly founded companies. Fong told Reuters that experience in Big Tech firm gave founders a "strong brand that can be leveraged to meet investors, potential customers, and recruit team members".

☆ It's been a bleak year for stocks. This is what investors can expect in 2023 — according to history
▼ + stars: | 2023-01-02 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

A confluence of global factors has meant the MSCI World index of large and mid-cap stocks finished the year down by nearly 20 % . In January alone, after a year of negative returns, the index rose 60% of the time by an average of 4.6%. The S & P 500 since 1929 CNBC also analyzed the S & P 500 since 1929, which showed a similar picture. That will bring the S & P 500 down to 3,600 from its current level of around 3,800 points. As for the month of January, after a year of negative returns, the U.S. index performed very similarly to the MSCI World index.

☆ History suggests the odds are against 2023 being another bad year for stocks
▼ + stars: | 2022-12-27 | by ( Bob Pisani | ) www.cnbc.com time to read: +3 min

There's a lot of anxiety about a recession in 2023 and the impact it could have on the stock market. The S & P 500 is already down nearly 20% for the year, which is historically very unusual. Long-term, the stock market tends to go up The reason buy-and-hold investing works is that long-term, the stock market has always risen. The S & P 500 on average has gone up nearly three out of four years. S & P 500 year-over-year returns (since 1928, including dividends) Up: 72% Down: 28% During that 94-year period, the S & P 500 has averaged a yearly return of 11.7%, again including dividends (not adjusted for inflation).

☆ Elon Musk responds to a Twitter user saying Jeff Bezos copies every business move the billionaire makes: 'Maybe it's a coincidence'
▼ + stars: | 2022-12-18 | by ( Sam Tabahriti | ) www.businessinsider.com time to read: +3 min

Elon Musk has stoked his ongoing rivalry with Jeff Bezos. Responding to a tweet suggesting the Amazon founder "copies" every business move he makes, Musk said, apparently sarcastically: "Maybe it's a coincidence." Musk has been feuding with Jeff Bezos for some 15 years and regularly accuses him of being a copycat. The Amazon founder has long had an interest in space exploration, starting up spaceflight firm Blue Origin in 2000. Musk founded his own commercial space firm SpaceX two years later.

☆ The pink-slip parties of the dot-com bust helped laid-off tech workers get new jobs. They need to make a comeback.
▼ + stars: | 2022-12-17 | by ( Rebecca Knight | ) www.businessinsider.com time to read: +5 min

Allison Hemming started "pink-slip parties" in the early aughts after the dotcom bust. Back then, like now, tech workers lost their jobs en masse. Hemming began running regular meetups for laid-off tech workers — misery loves company, after all — giving them an opportunity to network and meet prospective hiring managers. Will the latest tech layoffs spur a return of pink-slip parties? The tech workers losing their jobs today have a nice runway because a lot of big nontech companies are still hiring.

ORLANDO, Fla., Dec 8 (Reuters) - When Yogi Berra famously said it's difficult to make forecasts, especially about the future, he probably didn't have financial market analysts in mind. However, this is precisely where clients might reasonably expect their well-remunerated investment bank and fund management experts to earn their corn. The median earnings growth forecast was just under 8%. Right now the S&P 500 is below 4000, down 17% year to date and on course for one of its biggest falls in 80 years. A Reuters poll of 41 strategists published on Nov. 29 showed that the S&P 500 will end next year at 4200, up 6.8% from Wednesday's close.

☆ Jim Cramer urges investors to exit crypto – ‘it’s never too late too sell’
▼ + stars: | 2022-12-05 | by ( Krystal Hur | ) www.cnbc.com time to read: +1 min

CNBC's Jim Cramer on Monday told investors that they still have time to sell their cryptocurrency holdings. "You can't just beat yourself up and say, 'hey, it's too late to sell.' The truth is, it's never too late to sell an awful position, and that's what you have if you own these so-called digital assets," he said. Cramer, who has warned against staying in speculative assets while the Fed continues to tighten the economy, reiterated his argument and said that investors shouldn't be fooled by some coins' inflated market capitalization. He added that he expects more marginal names including XRP , dogecoin , Cardano and Polygon to fall much further, possibly to zero.

☆ Morning Bid: COVID vs RRR
▼ + stars: | 2022-11-24 | by ( Stella Qiu | ) www.reuters.com time to read: +2 min

SYDNEY, Nov 24 (Reuters) - A look at the day ahead in European and global markets from Stella Qiu:Another central bank pivots. This has aided the risk-on mood in the market, with Asian shares mostly advancing and U.S. dollar broadly weaker. The minutes of the Fed's November policy meeting showed a "substantial majority" of policymakers reckon it will "likely soon be appropriate" to slow the pace of rate hikes. China's COVID infections hit a record high, with Beijing, which has the strictest rules, failing to contain the spreading virus. "In our view, ending zero COVID as soon as possible is the key to raising credit demand and bolstering growth."

☆ How FTX's implosion put crypto news sites like CoinDesk, The Block, and Decrypt in the spotlight as they work to fend off an ad slump and conspiracy theories about their coverage
▼ + stars: | 2022-11-24 | by ( Reed Alexander | Steven Perlberg | ) www.businessinsider.com time to read: +15 min

Crypto news sites like CoinDesk, The Block, and Decrypt have dominated coverage of the FTX implosion. Now, crypto media staffers are wondering whether more dominoes falling from FTX could further hurt the industry or cripple their ad revenues. "We cover the good, the bad and the ugly," Dan Roberts, the editor-in-chief of Decrypt, told Insider. "In general, I think these things are good for crypto media," he said. Stacy-Marie Ishmael, the managing editor for Bloomberg's crypto team, likened burgeoning crypto coverage to 1990s coverage of the Internet.

☆ KKR is canceling its plans for a big new Manhattan office. It joins Meta, Netflix, and other big firms pulling back on office space.
▼ + stars: | 2022-11-22 | by ( Daniel Geiger | ) www.businessinsider.com time to read: +6 min

Two senior leasing executives in Los Angeles told Insider that Meta just canceled its plans to expand by 300,000 square feet in the city. KKR's decision comes as New York City's office market flagsTenants who are on the fence about taking space have little incentive to rush to commit to deals as the city's office market continues to soften. Leasing activity in Manhattan totaled 20.27 million square feet through October, according to CBRE, 38% more than the same period last year. Leasing is on track to finish the year well below prepandemic activity in 2018 and 2019, when 32.4 million and 31.6 million square feet were leased respectively in total. Cushman & Wakefield data showed there was over 21 million square feet of sublease space available in Manhattan in September.

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