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☆ Here are the top 3 reasons to fire a financial advisor, say experts
▼ + stars: | 2023-04-21 | by ( Greg Iacurci | ) www.cnbc.com time to read: +3 min

The advisor doesn't care about your goalsMost investors who fired their advisor cite poor quality of financial advice and services or poor quality of relationship as primary drivers of their breakup, according to Morningstar. watch nowInstead, issues might arise if an advisor doesn't devote enough time to understanding who their client is as a person or their personal financial needs and goals. 3 most frequently cited motivator for firing an advisor, behind lackluster quality of advice and relationship, Morningstar found. "The way I like to frame it is, look at costs and quality," Hauptman said. Or, they can ask the advisor what their dollar fees are — and it's a red flag if they're hesitant to answer, Hauptman said.

☆ BlackRock CEO Larry Fink's pay dropped by 30% to $25 million in 2022, making him the latest corporate leader to take a pay cut amid recession fears
▼ + stars: | 2023-04-17 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

BlackRock CEO Larry Fink took a 30% pay cut last year, pocketing a total of $25.2 million. Apple's Tim Cook, Goldman Sach's David Solomon, and Google's Sundar Pichai are other CEOs taking pay cuts. Fink — who co-founded BlackRock in 1988 — made $36 million in 2021. While Fink's pay — before and after his 2022 pay cut — is still quite significant, it's far from the top of the CEO pay scale in the US. Amazon CEO Andy Jassy's pay dropped to $1.3 million in 2022 from $212.7 million in 2021, Insider reported Friday.

☆ Goldman Sachs and UBS warn that lower inflation won't be enough to make stocks rally — but these 7 investments can help investors earn a profit anyway
▼ + stars: | 2023-04-14 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

Investors have mostly yawned at lower inflation data this week, keeping stocks range-bound. Strategists at the asset management arms of Goldman Sachs and UBS are signaling caution. The message from markets is clear: lower inflation isn't necessarily a green light for stocks. Strategists at UBS Global Wealth Management (GWM) and Goldman Sachs Asset Management issued even sterner warnings, with neither seeing much upside for stocks in the foreseeable future. Goldman Sachs Asset Management is also bullish on long-duration assets while the economy weakens, especially compared to riskier high-yield bonds.

☆ Slowing US inflation shifts investor focus to earnings season
▼ + stars: | 2023-04-12 | by ( David Randall | ) www.reuters.com time to read: +4 min

Wednesday’s data showed consumer prices growing at a slower pace than expected last month, bolstering the argument that inflation is decelerating. Yet some investors believe markets may have already accounted for a mild inflation slowdown and say further gains in stocks could depend on whether upcoming corporate earnings - especially results from banks - can beat forecasts. Earnings per share for the six largest U.S. banks are expected to fall 10% from the same quarter last year, according to Refinitv data. Overall, analysts expect S&P 500 earnings to fall 5.2% in the first quarter of 2023 from the year-ago period, I/B/E/S data from Refinitiv as of April 7 showed. That weakness would come on the heels of a 3.2% earnings fall in the fourth quarter of 2022, a back-to-back decline known as an earnings recession which has not occurred since COVID-19 blasted corporate results in 2020.

☆ Here are Wednesday's biggest analyst calls: Netflix, Tesla, Honeywell, Amazon, Shopify, Hyatt & more
▼ + stars: | 2023-04-12 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

UBS upgrades Goldman Sachs to buy from neutral UBS said in its upgrade of the banking giant that it's "resilient." "We are upgrading GS to Buy from Neutral as the firm appears well positioned to outperform amidst elevated levels of market volatility." Morgan Stanley upgrades MongoDB to overweight from equal weight Morgan Stanley said in its upgrade of the developer data platform that it has "share gain opportunities." Morgan Stanley names Box a top pick Morgan Stanley named the cloud content management company as a top pick and says it sees more margin upside ahead. Morgan Stanley upgrades Evercore to overweight from equal weight Morgan Stanley said the investment bank has "underappreciated resiliency."

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☆ ChatGPT can't answer basic questions about markets and investing and it'll be a long time before its a useful tool for investors, DataTrek says
▼ + stars: | 2023-04-07 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

ChatGPT's market and investing knowledge is spotty, and the bot isn't a good tool for investors yet, DataTrek said. The firm asked the chatbot seven questions related to markets, and some of its answers were vague or incorrect. In a note on Friday, the research firm tested the capabilities of the trendy AI tool, asking it seven questions related to markets and investing. The chatbot refused to answer four questions, and it incorrectly or vaguely answered two other questions, the firm said. "Generative AI has a long way to go before proving useful in the financial services industry or as a tool for individual investors.

By offloading some of the risk on their loans, the banks can significantly reduce how much capital they need to set aside to cover potential losses, according to law firm Clifford Chance. A bank can normally transfer risks of losses equivalent to around 7% to 12% of a loan portfolio, two market sources said. With synthetic structures, a bank transfers the risk via credit derivatives or guarantees but keeps holding the underlying exposures. The IFC sold BNP a $50 million guarantee on $1 billion of loans to emerging markets, they said, without disclosing terms. While Europe has been at the forefront for risk transfers, the stock of loans covered by SRTs is small relative to European banks' balance sheets.

☆ JPMorgan just dropped some clues as to who might succeed Jamie Dimon. See Insider's exclusive organizational chart identifying the bank's top 114 executives.
▼ + stars: | 2023-04-04 | by ( Carter Johnson | Samantha Stokes | Dakin Campbell | ) www.businessinsider.com time to read: +6 min

We've got names and faces for more than 100 top JPMorgan leaders across investment banking, and more. The bank's CEO and chairman, Jamie Dimon, has consequently been a leading voice shaping both Wall Street and Main Street for decades. On Tuesday, JPMorgan's board of directors provided a little more insight into its CEO succession plans via a 116-page annual proxy filing. Additions to the organizational chart also highlight the growth within some of JPMorgan's key teams. It also provides some clues as to who might one day succeed Dimon, Wall Street's longest running CEO.

☆ Cramer: Here's why I plan to trim some stocks at this stage of the bull market
▼ + stars: | 2023-04-02 | by ( Jim Cramer | ) www.cnbc.com time to read: +17 min

Back when bulls were everywhere From the time the great bull market began in 1982 until the financial collapse of 2007, we pretty much assumed stocks would always go higher. We often forget what the Great Recession of 2007 to 2009 was all about. A runaway bull market in all but banks — which are actually fueling the rally with their own ineptitude. My closing take, though, is that we have at last shaken off the ghosts of the Great Recession. But accept we are in a bull market and recognize that those who don't know it yet never will.

☆ ‘It’s not zero.’ Wall Street is pricing in a small but growing risk of a disastrous US default
▼ + stars: | 2023-03-31 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

As politicians sleepwalk toward a potential debt ceiling crisis, financial markets have begun pricing in a small — but growing — chance of a disastrous default. “The probability of default has gone up noticeably,” Andy Sparks, head of portfolio management research at MSCI, told CNN in an interview. Yellen has used unusually strong language for a former central banker to warn Congress against messing with the debt ceiling. Asked about MSCI’s estimate of a 2% implied probability of a default, Valliere said that number is low. But this is not a typical debt ceiling debate.”Fallback optionsThere are some early indicators of concern popping up in the bond market.

☆ BlackRock calls on clients to rethink hedging strategy after UK pension crisis
▼ + stars: | 2023-03-30 | by ( Tommy Wilkes | ) www.reuters.com time to read: +3 min

Asset managers worry new rules to make LDI investing more robust could render the strategy unviable for some schemes, but consultants warn BlackRock's push could repel pension clients who want to minimise concentration risk. On Wednesday the Bank of England said LDI funds would, in practice, need to increase liquidity buffers to withstand a 300-400 basis points surge in bond yields. BlackRock is also encouraging schemes to shift to a new, smaller range of LDI funds which are less complex to operate, and moving bigger schemes into segregated accounts, which fared better in the crisis, Claringbull said. "But where clients feel they are being compromised they will look to move assets," he added. Despite the crisis fallout BlackRock has told clients it remains committed to LDI.

☆ ChatGPT and A.I. might have a future as your portfolio manager, study suggests
▼ + stars: | 2023-03-29 | by ( Jesse Pound | ) www.cnbc.com time to read: +3 min

From a portfolio management perspective" — found that ChatGPT's ability to choose from a set of assets outperformed random selection on measures of risk-adjusted return and diversification. "Additionally, professional portfolio managers can improve their productivity by focusing on more important tasks while being assisted by ChatGPT in the selection of diverse assets for a given portfolio." Then, the researchers ran 10,000 simulations asking ChatGPT to select a various number of the available assets to create a portfolio. A backtest of the data showed that ChatGPT's selections created a more diversified portfolio with less correlated assets than random selection. And then, over the period of Jan. 1, 2022 to Jan. 31, 2023, the ChatGPT portfolios also outperformed the random selection portfolios on a risk-adjusted basis.

☆ Hill: Momentum from China's reopening and mega-cap tech are good
▼ + stars: | 2023-03-28 | 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 EmailHill: Momentum from China's reopening and mega-cap tech offer good places to hideHorizon Investments Head of Portfolio Management Zachary Hill explains where he's investing in the markets.

☆ Deutsche Bank, Credit Suisse, and what to know about the financial turmoil — and how one company is working to boost the number of women on Wall Street
▼ + stars: | 2023-03-25 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

The program collaborates with UPenn's Wharton business school, and it teaches college women the fundamentals of markets, portfolio management, and finance. Katherine Jollon Colsher, President and CEO, Girls Who Invest Girls Who InvestKatherine Jollon Colsher is the chief executive officer and president of Girls Who Invest, a nonprofit that aims to help women enter asset management and other careers across Wall Street. Katherine Jollon Colsher: We work exclusively in the buy side, and we do focus exclusively on placing women in internships and frontline investing roles to advance more women portfolio managers. With that, our vision is for 30% of the world's investable capital to be managed by women by 2030. Shares of the German bank tumbled on Friday, as the cost of credit default swaps linked to its bonds shot higher.

☆ US stocks slip ahead of Fed's decision on interest rates following bank crisis
▼ + stars: | 2023-03-22 | by ( Carla Mozée | ) www.businessinsider.com time to read: +3 min

US stocks slipped Wednesday before the Federal Reserve's March rate decision. The Fed's decision is the first since SVB's collapse set off distress in regional banks. The policy decision is due at 2:00 p.m. Eastern and Fed Chairman Jerome Powell will speak at 2:30 p.m. Eastern. Cathie Wood says the Fed's rate hikes hit Ark's strategy like an 'earthquake' as the fund logs a $2 billion loss. Top economist David Rosenberg said the Fed should put bigger rate hikes back on the table after bouts of 'speculative lunacy'.

☆ Right now, we have an opportunity to be patient with investments, says Gilman Hill's Jenny Harrington
▼ + stars: | 2023-03-08 | 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 EmailRight now, we have an opportunity to be patient with investments, says Gilman Hill's Jenny HarringtonShannon Saccocia, SVB Private CIO, and Jenny Harrington, Gilman Hill Asset Management CEO, join 'Closing Bell' to discuss investing in cash, timing stock investments and the case for active portfolio management.

☆ Shares skid, bonds face worst February since 1981 as US rates set to rise
▼ + stars: | 2023-02-28 | by ( Samuel Indyk | ) www.reuters.com time to read: +5 min

The concern now is not so much over global recession, but over the prospect of there being little respite any time soon from higher interest rates. MSCI's All-World index of global shares (.MIWD00000PUS) was last roughly steady on the day, but still close to Friday's seven-week low. Since then, a slew of U.S. and euro area economic data has reinforced the view that interest rates will rise further and stay high for longer. U.S. two-year Treasury yields , the most sensitive to shifts in expectations for interest rates, have risen by 60 basis points this month to almost 5%. Fed funds futures are fully pricing in a 25-bps rate rise from the Fed next month, with around a 20% chance of a larger 50-bps hike.

☆ Jim Cramer's Investing Club meeting Tuesday: Oil, Meta, Linde
▼ + stars: | 2023-02-28 | by ( Paulina Likos | ) www.cnbc.com time to read: +3 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Stick with Meta Platforms Shares of Club holding Meta Platforms (META) were up more than 3% in midmorning trading after CEO Mark Zuckerberg announced Monday that the tech giant is forming a new team to work on incorporating generative AI into its products. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

☆ Premarket stocks: It's bulls vs. hawks on Wall Street
▼ + stars: | 2023-02-23 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

New York CNN —There’s a new tussle brewing in the animal kingdom of Wall Street: Hawks vs. Bulls. The question is, will the Fed be able to break through and convince Wall Street to finally give in to market pessimism? “Setting aside what financial market participants expected us to do, I saw a compelling economic case for a 50 basis-point increase,” she said at an event in Florida. Asda told CNN that it was temporarily limiting purchases of some items to three packs per customer. Morrisons told CNN that it had imposed a cap of two packs per customer on the same products.

☆ Watch CNBC's full interview with GenTrust's Mimi Duff and Horizon Investments' Zachary Hill
▼ + stars: | 2023-02-21 | 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 EmailWatch CNBC's full interview with GenTrust's Mimi Duff and Horizon Investments' Zachary HillMimi Duff, managing director at GenTrust, and Zachary Hill, Zachary Hill, head of portfolio management at Horizon Investments, join 'Squawk Box' to discuss what's happening in the economy, whether equities could make a move higher, and more.

☆ Analysis: Why China's reopening isn't inflationary
▼ + stars: | 2023-02-16 | by ( Rae Wee | ) www.reuters.com time to read: +6 min

However, economists see no challenge to global inflation, pointing instead to Chinese President Xi Jinping's new blueprint for self-sufficiency, broader prosperity and a socialist ideology as checks on big-ticket shopping. The slack in China's labour markets and Beijing's growth priorities will also take the edge off inflation, they say. "I don't think China's recovery or the reopening will cause any significant global inflation," said Chi Lo, senior market strategist for Asia Pacific at BNP Paribas Asset Management. BNP's portfolio managers are positioning for China's rebound to boost regional tourism, but not export price rises for manufactured goods. "I'm very much of the view that (China's reopening) will be positive for the world in terms of either not being too inflationary, but more widely having deflation in some key new goods and services," Westpac senior economist Elliot Clarke said.

☆ Fast Money traders make opposite moves as Alphabet sells off on AI competition
▼ + stars: | 2023-02-09 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Google parent Alphabet sold off this week after its artificial intelligence (AI) event disappointed investors, prompting traders on CNBC's "Fast Money" to make moves on the stock. Karen Finerman, CEO of Metropolitan Capital, said she sold about 15% of her position in Alphabet this week amid the sell-off, citing increased competition in AI technologies. She said she still owns a big position in Alphabet, about 10% of her portfolio, even after the latest sale. Shares of Alphabet have tumbled more than 9% this week, on track to post their worst week since November. "Google is a company that's been in AI for eight years."

☆ Goldman Asset Management sees the best opportunity for bond investors in a decade. How to play it
▼ + stars: | 2023-02-07 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

There's good news for fixed-income investors this year, according to Goldman Sachs Asset Management. This year, inflation and the pace of monetary tightening will slow down, along with economic growth, Goldman said. We believe the sharp rise in yields in 2022 presents fixed income investors with the most attractive income and total return potential in more than a decade," they said. Goldman Sachs says it manages $1 trillion in fixed-income assets. Near term, Goldman Sachs Asset Management favors short-duration and high-quality fixed-income assets such as investment-grade credit and agency mortgage-backed securities (MBS).

Many on Wall Street remain convinced that a widely expected recession is likely to roil markets once again sometime this year. Also encouraging for investors was Powell's repeated references to disinflation - a falling rate of inflation. "I think they do see a path where you can get that soft landing, that Goldilocks-type scenario play out," he said. Banks and asset managers that have reiterated recession calls in recent weeks include BlackRock, Wells Fargo and Neuberger Berman. "Do people think (rate cuts) will be in response to inflation that has been coming down or something more dramatic, in terms of economic slowdown?

☆ The largest hedge fund in the world just named a 37-year-old woman as a co-CIO. Meet the top 11 execs leading Bridgewater into its new era.
▼ + stars: | 2023-02-02 | by ( Alyson Velati | Michelle Abrego | ) www.businessinsider.com time to read: +12 min

Karen Karniol-Tambour will join co-CIOs Greg Jensen and Bob Prince to oversee the hedge fund's investment strategy. Despite a breakout year for many multi-strategy and macro hedge funds, Bridgewater lagged behind its peers. Nir Bar Dea, co-CEOBar Dea. Bridgewater AssociatesAs cochief investment officer, Jensen oversees Bridgewater's investment strategies and research efforts as well as its investment talent. Since joining Bridgewater in 1986, he has been a partner in building the hedge fund's investment process and products.

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