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☆ A top-performing fund manager who warned of a huge collapse for stocks 6 months ago shares why he changed his tune and became bullish — and where he's investing now
▼ + stars: | 2022-11-18 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

Salem Abraham, whose fund is in the top 9% of its category in 2022, is now bullish on stocks. But according to the manager of the Abraham Fortress Fund (FORTX), which is in the top 9% of its category in 2022, those worries are overblown. However, now that inflation is slowing down it would be a mistake for the Fed to raise interest rates too far, Abraham said. That explains why Argentina, which has struggled with hyperinflation for years, has seen its stock market grow instead of collapsing under the weight of higher prices, Abraham said. "The game of interest rates is run by central bankers.

MOSCOW, Idaho — With no one apprehended in the brutal slayings of four University of Idaho students in an off-campus home, it "certainly is possible" there may be more than one suspect, a local prosecutor said Thursday. The description of the attack frustrated families of the victims and University of Idaho students who said that without a suspect in police custody, they continued to feel unsafe. In addition, a livestream from a late-night food truck appears to have recorded two of the students ordering food early Sunday. The livestream was broadcast on the platform Twitch by Grub Wandering Kitchen, which owns the food truck. This still from video appears to show two Idaho victims at a food truck before the incident.

☆ Police Continue Search for Suspect in Idaho Killings
▼ + stars: | 2022-11-17 | by ( Suryatapa Bhattacharya | ) www.wsj.com time to read: 1 min

The police chief in Moscow, Idaho, told local residents to stay vigilant and aware of their surroundings while a suspect for the killing of four students remains at large. Police said a suspect remains at large in Moscow, Idaho, three days after the stabbing deaths of four University of Idaho students. “We do not have a suspect at this time, and that individual is still out there,” Moscow Police Chief James Fry said at a news conference on Wednesday.

☆ A late-night food truck camera appeared to show 2 of the Idaho victims hours before they were found dead
▼ + stars: | 2022-11-17 | by ( Tim Stelloh | Tim Stelloh Is A Breaking News Reporter For Nbc News Digital. | ) www.nbcnews.com time to read: +3 min

MOSCOW, Idaho — A livestream from a late-night food truck appears to have recorded two college students ordering food hours before authorities found them and two others fatally stabbed at an off-campus home, video obtained Wednesday by NBC News shows. The video appears to show the University of Idaho students ordering “mac of the week” and carbonara at the food truck amid a rush of customers early Sunday. The livestream was broadcast on the platform Twitch by Grub Wandering Kitchen, which owns the food truck. Joseph Woodall, who manages the truck, said they appear to have been there between 1:30 a.m. and 1:40 a.m.A video still appears to show two of the Idaho victims at a food truck before the incident. GrubTruckersWoodall described the downtown food truck as one of Moscow’s only late-night options for hospital workers and students going to house parties or bars.

☆ Here's how to spot gems in the junk bond market and earn income even if a recession hits in 2023, say the managers behind a top-rated fund
▼ + stars: | 2022-11-16 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

Portfolio managers of the Buffalo High Yield Fund have crushed the market this year. Like nearly every fund without a tight focus on commodities, the Buffalo High Yield Fund (BUFHX) is down for the year, though its 6.3% loss year-to-date is modest compared to its index's 11.6% decline. But not all bonds with the same rating carry the same level of risk, the fund managers said. The fund managers said that avoiding landmines is the biggest key to success when picking non-investment-grade bonds. If that thesis is incorrect, spreads will widen considerably and much more downside will be ahead, but the fund managers are confident that they'd outperform again.

☆ Rudy Giuliani Isn’t Expected to Face Criminal Charges in Ukraine Probe
▼ + stars: | 2022-11-15 | by ( James Fanelli | Corinne Ramey | ) www.wsj.com time to read: 1 min

Rudy Giuliani, the former New York City major who has worked as personal lawyer to Donald Trump, had denied lobbying for anyone in Ukraine or working as an agent of a foreign government . Rudy Giuliani isn’t expected to face criminal charges in a New York federal grand jury investigation into his interactions with Ukrainian officials, the Justice Department said. “Based on information currently available to the government, criminal charges are not forthcoming,” federal prosecutors said Monday in a court filing.

☆ Buy these 7 stocks now for reliable income as high inflation stays 'alive and well' in 2023, says the manager of a top-8% dividend-focused fund
▼ + stars: | 2022-11-15 | by ( James Faris | ) www.businessinsider.com time to read: +5 min

Here are seven dividend stocks to buy now that will provide income in any setting. On the other side of the valuation spectrum are energy stocks. "From a valuation standpoint, you can't get much cheaper than the energy sector comparing it to the rest of the S&P 500 sectors," Morey said. Energy names will be a strong bet if inflation persists in the coming year, as Morey suspects. 7 top dividend stocks to buy nowBelow are the seven dividend stocks that Morey is bullish on right now from among his sector preferences, along with the ticker, market capitalization, dividend yield, and investment thesis for each.

☆ EXCLUSIVE Activist Impactive eyes proxy fight at Envestnet amid sluggish stock price
▼ + stars: | 2022-11-15 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +3 min

Impactive is now ratcheting up the pressure on Envestnet, which provides technology and automation software for financial advisors and banks. In a letter to the board, seen by Reuters, Impactive wrote it sees "no choice but to consider nominating a slate of directors" to help correct a string of failures, including a sluggish share price. Impactive criticized the board for failing to evaluate what the returns would be on the spending. But Envestnet roundly rejected Impactive's earlier suggestions that Wolfe join its board, saying she is "not a good fit." Impactive disagrees and wrote that its record on boards has spanned years and "led to over 30% annualized returns for Impactive."

CNN —A Zambian student, jailed in Russia was killed during a battle in Ukraine, Zambia’s foreign ministry said Monday. The student was a 23-year-old student the Zambian government had sponsored to study nuclear engineering at the Moscow Engineering Physics Institute. Nyirenda was convicted in 2020 of unspecified crimes in Russia and sent to prison for nine years and six months. CNN has contacted the Zambian foreign ministry for more information. However many foreign students reported facing segregation and racism at borders.

☆ The UBS stock chief who called the latest stock market correction shares how to protect your portfolio heading into what he fears will be an ugly 2023
▼ + stars: | 2022-11-14 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

In mid-May, Lefkowitz noted that stocks looked oversold and predicted that inflation would fall as wages and supply-chains eased. Sure enough, the S&P 500 entered a steep correction for the exact reasons Lefkowitz outlined. Their latest S&P 500 target for June 2023 is 3,700, which was marked down from both their previous mid-year 2023 target of 4,200, and remains well below their year-end 2023 target of 4,000. For context, the S&P 500 is currently sitting at about 3,960 but fell as low as 3,715 earlier this week. "Since World War II, we've never seen only a modest rise in the unemployment rate," Lefkowitz said.

☆ These 33 stocks will benefit the most as inflation finally starts to fall, according to UBS
▼ + stars: | 2022-11-12 | by ( James Faris | ) www.businessinsider.com time to read: +3 min

Both the economy and inflation are set to fall off a cliff, according to the top strategists at UBS. Inflation, which is finally starting to fall as the global economy softens, will drastically decline from here, according to UBS. Lower inflation will be a relief for many companies, but it will especially benefit those stocks in three sectors, according to UBS: communication services, healthcare, and information technology. Communication services and healthcare stocks have outperformed when inflation declines and have shown the least sensitivity to changes in price growth, Kapteyn wrote. 33 stocks that will benefit from lower inflationIn light of these predictions, UBS created a quantitative screen to determine which stocks would fare best as inflation drops.

☆ Ex-college basketball player and wife identified as pair killed in a murder-suicide inside the Dallas medical examiner’s office
▼ + stars: | 2022-11-11 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms | David K. Li | ) www.nbcnews.com time to read: +2 min

The man who killed his estranged wife, a Dallas medical examiner, inside her office before turning the gun on himself, was identified as a former college basketball player, authorities said Friday. James "Jed" Frost, who played at the University of Missouri in the early 1990s, fatally shot his wife, Dr. Beth Ellen Frost, on Tuesday afternoon inside her office at the Dallas County Medical Examiner's Office, officials said. The shooting is still under investigation, a Dallas County Sheriff's spokeswoman said. Frost's office near downtown Dallas after shots were heard at about 4:45 p.m., sheriff's deputies said. "We don't expect anyone to occupy that office," Price said.

☆ The manager of an international Fidelity fund breaks down why he invests without obsessing over traditional valuation metrics — and how it's helped him beat 91% of competitors this year
▼ + stars: | 2022-11-11 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

But the Fidelity International Small Cap Fund is having its best year relative to peers in a decade. When Fidelity launched the Fidelity International Small Cap Fund (FISMX) in 2002, the timing turned out to be perfect. International stocks were about to embark upon six straight years of outperforming their US-based peers by at least 5%. International stocks underperformed their American peers by 6.4% in 2008 and lag behind US stocks for 10 of the next 13 years. Yet despite that unforgiving environment for foreign stocks, Fidelity's $2.9 billion international small cap fund has beaten 98% of competitors over the past 15 years, according to Morningstar.

☆ Trolls are already abusing Elon Musk's new Twitter verification system, impersonating everyone from George Bush to O.J. Simpson
▼ + stars: | 2022-11-10 | by ( Pete Syme | ) www.businessinsider.com time to read: +4 min

Twitter's new verification system is already being abused by trolls impersonating public figures. Neither Bush nor Blair have personal Twitter accounts, but are verified through their foundations. Other examples of fake but verified accounts causing trouble soon after the new verification system came in included a user pretending to be O.J. "I'm ngl I did that shit," the verified account "ThaReal0J32" tweeted, attracting over 55,000 likes before it was deleted. The fake Bush account also responded to tweets about fake verified accounts saying: "Jed [Bush's younger brother] is smarter than Elon."

☆ Here's how to invest to take advantage of the best outlook for long-term investors since 2010, according to JPMorgan Asset Management
▼ + stars: | 2022-11-09 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

The forward outlook for investors is the best since 2010, according to JPMorgan Asset Management. This year is on pace to be the worst for stocks since 2008, but the long-term investing outlook is as promising as it's been since 2010, according to JPMorgan Asset Management (JPMAM). Both developments give long-term investors an attractive entry point. That's far lower than the 2.9% growth that the world saw from 2010 to 2020, according to JPMAM's 2021 report. How to invest for the long termInvestors should build long-term portfolios around three asset classes, according to JPMAM: stocks, bonds, and alternative assets.

☆ Europe still can't live without Russian LNG exports
▼ + stars: | 2022-11-09 | by ( Anna Cooban | ) edition.cnn.com time to read: +7 min

London CNN Business —Europe may be closer than ever to breaking its energy dependence on Moscow, but it still can’t live without one type of Russian natural gas. Russian imports doubled in the year to September to 1.2 million tons, Rystad data shows. The majority of the Russian LNG imports come from privately owned Novatek, the country’s second-largest natural gas producer after Gazprom. “I expect that Russian LNG will continue to play an important role in filling European storage going into winter of 2023,” he told CNN Business. “[Europe] would rather get whatever [it] can in terms of Russian pipeline gas and Russian LNG… it would take a lot before [it] would think about sanctioning gas or LNG from Russia,” Ramesh said.

☆ Defamation Lawsuits Dropped in Jeffrey Epstein Saga
▼ + stars: | 2022-11-08 | by ( James Fanelli | ) www.wsj.com time to read: 1 min

Virginia Roberts Giuffre stated she now recognizes that she might have made a mistake in identifying Alan Dershowitz as one of her alleged abusers. Jeffrey Epstein accuser Virginia Giuffre , her lawyer David Boies and the disgraced financier’s former attorney Alan Dershowitz said Tuesday that they have dropped their defamation lawsuits against one another, ending a yearslong feud involving two of the nation’s best-known attorneys. The litigation stemmed from Ms. Giuffre previously alleging that Epstein, who died by suicide in a New York federal jail in 2019 while awaiting trial on sex-trafficking charges, sexually abused her as a minor and prostituted her to Mr. Dershowitz and other associates. In 2018, Mr. Dershowitz, a retired Harvard Law School professor, denied he sexually abused Ms. Giuffre and accused Mr. Boies of professional misconduct and extortion.

☆ Here's how to protect your portfolio from an inescapable energy crisis in 2023 caused by 'embarrassingly stupid' government policies, says a $200 million hedge fund manager who called the oil market's
▼ + stars: | 2022-11-08 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

The Department of Energy's "embarrassingly stupid" policies will likely cause a severe energy shortage and an energy crisis in 2023, Kupperman told Insider. I mean, US energy production has roughly been flat since the end of Q1 — six months where it's flat. Ironically, energy-friendly policies that lead to an increase in oil production would bring down prices and hurt his portfolio's performance in the process. This doesn't sound like the team of people — between his energy secretary and then Biden — that's going to restore energy production. "We're going to see a new level, so to speak, in terms of commodity prices," Kupperman said.

☆ Conquer inflation and rake in income by following this investing playbook, says the mind behind a top-performing $4 billion fund
▼ + stars: | 2022-11-07 | by ( James Faris | ) www.businessinsider.com time to read: +8 min

A peaceful early expansion environment with growth, low inflation, and falling rates starts to sour in the early overheating stage, when red-hot growth and low rates spark high inflation. How to invest in a low inflation economic cycleEarly expansion: Expansion, low inflation, falling ratesWhat works: Stocks broadly outperform, followed by income stocks and real estate investment trusts (REITs). How to invest in a high inflation economic cycleEarly expansion: Expansion, low inflation, falling ratesWhat works: Stocks broadly work best, followed by income stocks and REITs. Late overheating: Expansion, high inflation, rising ratesWhat works: Income stocks, commodities, and stocks tied to real assets outperform with growth, inflation, and rates high. Early stagflation: Contraction, high inflation, rising ratesWhat works: TIPS outperform as growth weakens and inflation stays high while income stocks do fine with inflation high.

☆ Exxon faces $2 billion loss on sale of troubled California oil properties
▼ + stars: | 2022-11-06 | by ( Gary Mcwilliams | ) www.reuters.com time to read: +3 min

REUTERS/Lucas Jackson/File PhotoSummarySummary Companies Exxon will finance sale of offshore California oil fieldBlank-check firm to restart operation idled by 2015 spillHOUSTON, Nov 6 (Reuters) - Exxon Mobil Corp (XOM.N) will take up to a $2 billion loss on the highly leveraged sale of a troubled California offshore oil and gas field that have been idled since a 2015 pipeline spill. A subsea pipeline leak seven years ago sent 2,400 barrels of the Santa Ynez oil into the Pacific Ocean, leading to a shutdown. The Santa Ynez sale includes three oil and gas platforms that sit up to 9 miles (14 km) off the California coast, a pipeline and oil and gas processing facilities. He has run five U.S. oil companies beginning with Flores & Rucks Inc in 1992, and often sold his companies at sizeable gains. Last year, he raised $287.5 million through an initial public offering for the company that became Sable Offshore.

☆ How Diverse Are the Candidates in the Midterm Elections?
▼ + stars: | 2022-11-05 | by ( Maggie Astor | Eleanor Lutz | ) www.nytimes.com time to read: +11 min

The House of RepresentativesThere are at least 403 people of color, women or nonbinary candidates running for seats in the House of Representatives in Tuesday’s midterm elections. Incumbent Democrat Republican White men women Black men women Hispanic men women Other and multiple race men womenThere are 11 Senate candidates who are Black this year. Democrat Black candidates Republican Ga. Raphael Warnock Ala. Will Boyd Ark. Incumbent Democrat Republican White men women Black men women Other and multiple race men womenThere are 25 women nominated for governor — 16 Democrats and nine Republicans. Democrat Black candidates Republican Ala. Yolanda Flowers Ark.

☆ Here's how to pick winning stocks that can help your portfolio survive a recession, according to the managers of a $42 billion fund that beat 92% of peers in the past decade
▼ + stars: | 2022-11-05 | by ( James Faris | ) www.businessinsider.com time to read: +6 min

Matt McLennan and Kimball Brooker have guided their fund to a top 8% performance in the past decade. That's in sharp contrast to Matt McLennan and Kimball Brooker, co-managers of the $42 billion First Eagle Global Fund (SGENX). "What you'll find is that the amount of whatever it is that we're collecting never becomes large enough to do too much damage to the portfolio," Brooker told Insider. Those first two points are often prioritized by managers seeking quality stocks, but fewer fund managers target those latter two attributes. Fund managers should carefully consider a stock's long-term outlook instead of simply whether or not it diversifies and lowers the volatility of a portfolio.

☆ Trump Ally Thomas Barrack Acquitted in Foreign Influence Case
▼ + stars: | 2022-11-04 | by ( James Fanelli | Corinne Ramey | ) www.wsj.com time to read: 1 min

Thomas Barrack , a businessman and ally of Donald Trump, was acquitted Friday of charges that he illegally lobbied the former president and his administration on behalf of the United Arab Emirates. The verdict, which also found Mr. Barrack not guilty of lying to federal investigators, handed another blow to the Justice Department, which has faced a series of setbacks in its yearslong push to address what it sees as hidden foreign influence in U.S. politics.

☆ Goldman Sachs: These 24 cheap stocks boasting strong dividend growth and double the yield of the typical stock will outperform in a recession
▼ + stars: | 2022-11-04 | by ( James Faris | ) www.businessinsider.com time to read: +3 min

Here are 24 cheap stocks that have dividend growth and a yield that's twice the median S&P 500 name. Dividend growth has never been less than 2% on a 10-year annualized basis since 1950, according to the firm. "S&P 500 dividend futures appear to be pricing an overly pessimistic outlook, even in the event of a recession," Kostin wrote. But only 24 stocks in the basket have a dividend yield that's at least double that of the market's median 1.8% yield, according to Goldman Sachs. Those names are below, along with their ticker, market capitalization, sector, current dividend yield, and expected dividend growth rate from 2022 through 2024.

☆ Trump is suing New York Attorney General Letitia James after she served him with a $250 million fraud lawsuit
▼ + stars: | 2022-11-03 | by ( Matthew Loh | ) www.businessinsider.com time to read: +2 min

Former President Donald Trump is suing New York State Attorney General Letitia James. James filed a $250 million fraud lawsuit against Trump and his three eldest children in September. The announcement comes after James filed a $250 million civil lawsuit against Trump on September 21, seeking to permanently ban Trump and his three eldest children from conducting business in New York. In his complaint against James, Trump accused the attorney general of a "war of intimidation and harassment" and of a "longstanding and continued bias" against him and his organization. The New York Attorney General's press office and representatives for Trump did not immediately respond to Insider's requests for comment.

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