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☆ New York attorney general calls for new sanctions against Donald Trump
▼ + stars: | 2023-01-31 | by ( Jonathan Stempel | ) www.reuters.com time to read: +3 min

NEW YORK, Jan 31 (Reuters) - New York's attorney general on Tuesday asked a judge to sanction former U.S. President Donald Trump, his adult children, the Trump Organization and their lawyers over their responses to her $250 million civil fraud lawsuit against them. Lawyers for the Trump defendants did not immediately respond to requests for comment. Former U.S. President Donald Trump, who announced a third run for the presidency in 2024, hosts a New Year's Eve party at his Mar-a-Lago resort in Palm Beach, Florida, U.S. December 31, 2022. James asked for sanctions on the same day new video from her office's Aug. 10 deposition of Donald Trump showed the former president repeatedly refusing to answer questions, citing his right against self-incrimination under the U.S. Constitution. "This is a vindictive and self-serving fishing expedition, the likes of which this country has perhaps never seen before," Trump said.

Madonna sang the praises of nonfungible tokens, or NFTs, depicting cartoon portraits of bored apes. Tampa Bay Buccaneers quarterback Tom Brady appeared in commercials endorsing crypto exchange FTX, which collapsed suddenly in November. And Kim Kardashian gushed about EMAX tokens on Instagram. Now they and other celebrities are facing civil lawsuits from investors who suffered losses on virtual assets, as well as scrutiny by regulators for allegedly duping the investing public. The legal actions, which have prompted some agents to caution their clients against financial endorsements, could clarify the ground rules for crypto promotions, as well as the hurdles investors must clear to hold promoters liable when investments go south.

☆ Goldman Sachs: Make these 10 trades right now for a guaranteed profit whether a stock soars or crashes after it reports earnings
▼ + stars: | 2023-01-30 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

Volatility has been higher than average for stocks that have already shared Q4 earnings. Goldman Sachs has 10 options trades that will be profitable if stocks suddenly move on earnings day. Goldman Sachs researchers have concocted an investing strategy that's designed to be profitable whether a stock spikes or dives after reporting earnings. A straddle trade is where investors buy both a bullish call option and a bearish put option for the same stock at the same strike price and expiration date. In fact, volatility has fallen year-to-date, according to Goldman Sachs.

☆ DOJ Seeks to Ban Sam Bankman-Fried From Contacting FTX Employees
▼ + stars: | 2023-01-28 | by ( James Fanelli | ) www.wsj.com time to read: 1 min

The Justice Department on Friday asked a federal judge to bar FTX founder Sam Bankman-Fried from communicating with current and former employees of the collapsed crypto exchange without a lawyer present after prosecutors alleged he recently contacted a potential witness in his criminal case. Mr. Bankman-Fried, who faces federal charges related to the implosion of FTX, reached out to the general counsel of the company’s U.S. operation through an encrypted messaging application earlier this month, federal prosecutors said in a filing. Prosecutors said Mr. Bankman-Fried has also contacted other current and former FTX employees and are concerned that the communications could lead to witness tampering.

☆ Here are 5 ways investors can find deeply discounted stocks hiding in the red-hot energy and materials sectors, according to a top 1% value fund manager
▼ + stars: | 2023-01-27 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

Top-1% value fund manager Scott Barbee shared the investing strategy that's brought him success. Barbee's Aegis Value Fund (AVALX) has beaten 98% of peers by returns over the past 15 years, according to Morningstar. After finding potential candidates for his fund, Barbee looks at a company's financial health by inspecting its balance sheet and capital structure to see how much debt it has and how it's organized. Following these steps has brought Barbee robust returns over the long term, regardless of what stage of the economic cycle he's investing in. The top holding in the Aegis Value Fund is Amerigo Resources (ARREF), which mines copper in Chile.

☆ Dow forecasts dour quarterly revenue, says will slash 2,000 jobs
▼ + stars: | 2023-01-26 | by ( Ankit Kumar | ) www.reuters.com time to read: +2 min

Jan 26 (Reuters) - Dow Inc (DOW.N) on Thursday forecast current-quarter revenue below estimates and said it would cut about 2,000 jobs as the chemical giant navigates challenges including inflation and supply chain disruptions. Dow Chief Financial Officer Howard Ungerleider said while the pace of inflation has moderated, the overall cost levels remain elevated. The company expects the recent shifts in China's COVID policy to stimulate demand, but that would take some time to take effect. "Chemical prices are likely to go up in the first quarter (2023) and we will see better demand in the second quarter," said Aleksey Yefremov, analyst at KeyBanc Capital Markets. It expects 2023 capital expenditure be $2.2 billion, about 21% higher than last year.

☆ Colombian Drug Kingpin Pleads Guilty to Smuggling Cocaine Into U.S.
▼ + stars: | 2023-01-26 | by ( James Fanelli | ) www.wsj.com time to read: 1 min

A Colombian drug kingpin who was once one of the country’s most wanted fugitives pleaded guilty Wednesday in a Brooklyn federal court to overseeing the smuggling of more than 100 tons of cocaine into Central America and the U.S.Dairo Antonio Úsuga David was extradited to the U.S. last year after the Justice Department accused him of being the former leader of the Gulf Clan, one of the largest and most powerful cocaine-trafficking organizations in Colombia. Mr. Úsuga David, who is also known by the alias Otoniel, was arrested in Colombia in 2021 after years on the run. The U.S. had placed a $5 million bounty on his capture.

☆ Goldman Sachs: China's reopening economy is gaining momentum, and these 50 stocks are best positioned to benefit from the robust rally
▼ + stars: | 2023-01-26 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

Goldman Sachs recently boosted economic growth estimates for both China and Europe. Since November, the SSE Composite Index (in dark blue) and the STOXX Europe 600 (in purple) have beaten the S&P 500 (in light blue). That led Goldman Sachs to boost its 2023 GDP estimate for the nation from 4.5% to 5.5%, driven by an 8.5% increase in inflation-adjusted consumption. Robust growth in China now means that Europe will avoid a recession this winter, according to Goldman Sachs. But Chinese stocks won't be the only ones to benefit from the nation's economic boom.

☆ A contrarian value fund manager who beat 99% of his competitors last year shares how he finds unloved stocks — and 8 of his favorite names to buy right now
▼ + stars: | 2023-01-25 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

A top-1% value fund manager shared four rules that have helped him achieve success. Fund manager Matthew Fine's old-school, valuation-driven investing process helped his Third Avenue Value Fund (TAVFX) outperform 99% of competitors last year, according to Morningstar. And so far in 2023, the Third Avenue Value Fund is in the top 19% of its category with a market-crushing 10.6% return. Fine is patient with the stocks he's added to his portfolio because he's so careful in choosing them. 8 top stocks to buy and holdFine shared eight of his favorite stocks to own for the long term.

☆ Mexico’s Former Top Cop Goes on Trial in New York for Alleged Aid to Drug Cartel
▼ + stars: | 2023-01-23 | by ( James Fanelli | José De Córdoba | ) www.wsj.com time to read: 1 min

Mexico’s former top law-enforcement official is set to go on trial Monday in a Brooklyn federal court, accused of helping one of the world’s most powerful drug cartels smuggle over 50 tons of cocaine into the U.S. in exchange for tens of millions of dollars in bribes. Genaro García Luna , 54, headed Mexico’s federal investigation agency and served as the country’s minister for public security from 2006 to 2012 under then-president Felipe Calderón .

☆ Buy these 39 cheap stocks that are set for stronger earnings growth than their peers in 2023, according to Credit Suisse
▼ + stars: | 2023-01-23 | by ( James Faris | ) www.businessinsider.com time to read: +3 min

But cheap stocks as a whole are set to struggle this year, according to Credit Suisse. Credit Suisse projects that high P/E stocks will increase earnings by 15.5% in 2023 while their low P/E peers will muster just 3% growth. Over the last 10 years, richly valued companies have seen an average of 14.4% earnings growth compared to an average of 8.2% earnings growth for discounted stocks. 39 cheap stocks to buy for earnings growthHowever, not all inexpensive stocks will struggle this year. Below are the cheap stocks that Credit Suisse is optimistic about along with the ticker, market capitalization, and sector for each.

☆ Trump claims lawsuits are a conspiracy to 'keep him busy' ahead of 2024. He's the one making lawsuits political, judges say.
▼ + stars: | 2023-01-23 | by ( Jacob Shamsian | ) www.businessinsider.com time to read: +11 min

Judges have repeatedly slammed Trump for using lawsuits "to advance a political narrative." "Keep Trump busy, because this is the way you defeat him, to keep him busy with litigation," Trump testified in the deposition, speaking in the third person. US District Judge Donald M. Middlebrooks said that Trump has a "pattern of misusing the courts to serve political purposes." Trump's lawyers have to deal with his 2024 runIn the Trump lawsuits that haven't been dismissed, those trials may need to be scheduled around his 2024 campaign events. A trial for Carroll's claims is set for April of this year, and James' lawsuit against Trump is on track for October.

☆ The top-performing stock-picker of 2022 shares 6 of his favorite companies to buy now to protect against high inflation, low profits, and an energy shortage that will last for years to come
▼ + stars: | 2023-01-22 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

Here are six energy companies that Davolos believes are strong long-term investments. Expect high inflation to hurt earnings in 2023 and beyondOf all the trends Davolos spotted, one stands out most: inflation will be higher for longer. Most investors assumed that the high inflation of the 1970s and '80s was gone forever after the internet and other technology kept prices down during the previous two decades. Stocks broadly will likely suffer if inflation stays stubbornly high, Davolos said, given that higher prices weigh on firms' profit margins. Energy royalty companies' efficient, asset-light business model gives them lofty operating margins that are the envy of their peers.

☆ Buy these 33 stocks that will benefit most if inflation doesn't fall as fast as expected, according to Credit Suisse
▼ + stars: | 2023-01-21 | by ( James Faris | ) www.businessinsider.com time to read: +3 min

Markets expect that 12 months from now, inflation will tumble to 1.8%, according to Credit Suisse. But price growth could linger longer than hoped if there's no recession after all. Here are 33 stocks that Credit Suisse sees succeeding if inflation stays high in 2023.Credit Suisse says that inflation expectations are plummeting after the latest Consumer Price Index revealed that price growth declined slightly in December. Price growth in the UK is seen sliding from a peak of 11.1% in October to 4.2% by year's end, while inflation in Europe is forecast to fall from a recent reading of 10.1% to 3.1% before 2024, according to Credit Suisse. 33 stocks to buy as inflation stays highIf inflation runs hotter than expected or accelerates again in 2023, there are 33 stocks — three in each sector of the S&P 500 — that Credit Suisse believes will benefit most.

Former President Donald Trump has dropped the federal lawsuit he filed in Florida against New York Attorney General Letitia James. Trump's lawyers filed a notice of voluntary dismissal in the case before U.S. District Judge Donald Middlebrooks on Friday morning. The suit charged James — who's filed a $250 million lawsuit against Trump and his company in New York state court — has "repeatedly abused her position as Attorney General for the State of New York to pursue a vendetta against President Trump." Trump had made similar claims against James in state and federal court in New York, both of which were dismissed. "Mr. Trump is a prolific and sophisticated litigant who is repeatedly using the courts to seek revenge on political adversaries.

☆ A veteran investor says the bears have it all wrong, and pessimism is already priced into markets. Here's where he's putting his money now that the time-tested playbook for investing in tech stocks ha
▼ + stars: | 2023-01-20 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

But right now Lindzon isn't following the tech-focused investing approach that brought him so much success over the previous two decades. While he still sees opportunities to make money, he's much more cautious amid a high-interest-rate environment that led to the worst year for tech stocks since 2000. "You can't do a startup today and hire a hundred engineers because you can't raise enough money," Lindzon said. "I'm constructive in that money isn't coming out of the market completely," Lindzon said. Instead, Lindzon would advise investors to consider equal-weight stock market indexes, given that they offer diversification but aren't bogged down by mega-cap tech stocks.

☆ Federal Judge Dismisses Charges Against NYPD Officer Accused of Acting as Chinese Agent
▼ + stars: | 2023-01-19 | by ( Corinne Ramey | James Fanelli | ) www.wsj.com time to read: 1 min

NYPD officer Baimadajie Angwang held a news briefing outside Brooklyn’s Federal court after a judge dismissed the spy charges against him on Thursday. A federal judge on Thursday dismissed an indictment against a New York Police Department officer accused of spying for the Chinese government, after prosecutors made an uncommon request to drop the 2020 charges against him. Federal prosecutors in Brooklyn sought the dismissal last week in the case of Baimadajie Angwang, who faced charges including acting as an illegal agent of a foreign country, wire fraud and making false statements on a security clearance application as an Army reservist.

☆ Buy these 42 stocks in BMO's market-crushing US dividend growth portfolio to earn income and hedge against high prices in 2023
▼ + stars: | 2023-01-19 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

Here are the 42 stocks in BMO's US dividend growth portfolio, which beat the market soundly in 2022. One such model, the US dividend growth portfolio, beat the S&P 500 convincingly in 2022, falling just 5.4% after dividends compared to the index's -18.1% total return. And in 2021, the US dividend growth portfolio matched the S&P 500's performance exactly by rising 28.7%. Still, Belski noted that 30 of the 42 stocks held in BMO's US dividend growth portfolio topped the S&P 500 in the fourth quarter. Below are the 42 stocks in BMO Capital Markets' market-beating US dividend growth portfolio right now, along with the ticker, market capitalization, sector, and dividend yield for each.

☆ This payment stock can surge 25% as a potential recession means less competition, Morgan Stanley says
▼ + stars: | 2023-01-17 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +2 min

Shares of Global Payments are set to surge as competition falls to the wayside, according to Morgan Stanley. Less competition good for shares The changing competitive landscape should favor incumbents such as Global Payments, according to Faucette. In addition, Global Payments is top of the list in the category due to its strategic outlook, including a focus on mergers and acquisitions. Merchant exposure Global Payments also has high merchant exposure, which might not be as much of a detriment in a recession as feared, according to the note. "With this type of backdrop, we would expect GPN Merchant revenue growth to remain solidly mid- to high single digits."

☆ Piper Sandler sees a rally ahead in this unusual tech play on customer service automation
▼ + stars: | 2023-01-17 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +2 min

NICE Systems , which provides customer experience and anti-fraud and risk management software, is poised to rally in the coming year, according to Piper Sandler. The upgrade comes as Piper Sandler sees NICE gaining new clients and building revenue in the coming year as its main competitors struggle. Piper Sandler also sees the second half of 2023 as a potential recurring revenue inflection point. Nice win rates NICE is well-positioned to win seats in the contact center as a service space. NICE also offers a full suite of products that customers want, according to Piper Sandler.

☆ Former Executives of Fox Subsidiary Face Trial in FIFA Bribery Case
▼ + stars: | 2023-01-15 | by ( James Fanelli | ) www.wsj.com time to read: 1 min

The World Cup closing ceremony before the final match between Argentina and France last month in Qatar. Two former executives of a 21st Century Fox subsidiary are set to go on trial beginning this week on charges that they bribed FIFA officials to secure broadcasting rights to soccer matches, the latest in a string of U.S. prosecutions alleging wide-ranging corruption in the sport’s international governing body. Hernan Lopez and Carlos Martinez , defendants in a Brooklyn federal court, are accused of working with others to make millions of dollars in illicit payments and kickbacks between 2000 and 2015 to South American soccer officials in exchange for the broadcasting rights to the region’s most popular club tournament, the Copa Libertadores, and other matches.

☆ Inflation just fell for the 6th straight month. These 33 stocks will benefit most as price surges continue to fade in 2023, according to Credit Suisse.
▼ + stars: | 2023-01-14 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

Here are 33 stocks that will thrive as inflation continues to decline in 2023. But Golub is perhaps most encouraged by the divergence in goods and services inflation. As a result, goods inflation has cratered after initially soaring while services inflation remains high. Another key driver of services inflation is wage growth, Golub said. Stay cautious about stocks despite lower inflationBut despite his optimistic view about the economy, Golub isn't overly bullish on stocks.

☆ A top fund manager who's beaten 99% of competitors over the past 5 years shares the investing strategy that led to his success — and 7 of his favorite value stocks right now
▼ + stars: | 2023-01-13 | by ( James Faris | ) www.businessinsider.com time to read: +4 min

Eli Salzmann's Neuberger Berman Large Cap Value Fund has beaten 99% of peers in the past five years. Here are seven stocks that Salzmann loves right now, even if the economy weakens. Value stocks have been in vogue for the past year or so, but in the decade before that, investors only seemed to care about growth stocks. The two indexes were weighed down by lagging value stocks, but still managed to fetch returns 316% and 240%, respectively. During that time, many value fund managers drifted toward growth names, said Eli Salzmann, the portfolio manager of the Neuberger Berman Large Cap Value Fund (NBPIX), in a recent interview with Insider.

☆ Buy these 15 high-quality stocks that will beat the market as a recession strikes in the next 6 months, according to Bank of America
▼ + stars: | 2023-01-12 | by ( James Faris | ) www.businessinsider.com time to read: +3 min

Bank of America sees limited gains for US stock indexes in 2023 as a recession begins. Inflation could also stay high for longer than expected, which would hurt growth stocks. He believes that the growth stocks that led the market in the previous decade will take a backseat to value names and smaller stocks in the coming years, especially if inflation persists. Since indexes like the S&P 500 are disproportionately weighted towards large growth stocks, such a shift could lead to rough years for benchmarks and funds that track them. "History suggests flat, volatile returns for crowded, large cap benchmarks," Woodard wrote.

☆ First Cryptocurrency Insider-Trading Case Yields 10-Month Prison Term
▼ + stars: | 2023-01-10 | by ( James Fanelli | ) www.wsj.com time to read: 1 min

The brother of a former Coinbase Global Inc. employee was sentenced in a New York federal court Tuesday to 10 months in prison for his role in what prosecutors called the first cryptocurrency insider-trading scheme. Nikhil Wahi , 27 years old, pleaded guilty last year to one count of conspiring to commit wire fraud, admitting to profiting from confidential information that federal prosecutors say his brother obtained about assets to be listed on the crypto exchange. Mr. Wahi netted nearly $900,000 in proceeds by using the information to trade on digital tokens, according to prosecutors in the Manhattan U.S. attorney’s office.

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