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☆ AIG Terminates Interim Finance Chief Mark Lyons
▼ + stars: | 2023-01-31 | by ( Kathryn Hardison | ) www.wsj.com time to read: +1 min

American International Group Inc. said it terminated Mark Lyons from his position as the interim chief financial officer and executive vice president, global chief actuary and head of portfolio management after the company became aware that he violated his confidentiality and nondisclosure obligations. AIG said it entered into a settlement agreement with Mr. Lyons. Mr. Lyons joined the company in 2018 and previously served as the CFO. Mr. Lyons couldn’t immediately be reached for comment. AIG said Sabra Purtill has been named interim CFO and Turab Hussain has been named the interim global chief actuary.

☆ Recession 2023: Jerome Powell's Legacy Will Dictate Inflation, Stock Market, Economy
▼ + stars: | 2023-01-30 | by ( William Edwards | ) www.businessinsider.com time to read: +15 min

This obsession with controlling inflation — and potentially causing serious pain for average Americans — is driven by one major factor: legacy. High inflation eats away at consumers' purchasing power, and persistent inflation seeps into expectations for price and wage adjustments, which further fuel inflation. What's more, the full impact of the Fed's rate hikes have yet to hit. Legacy actsThere are signs that certain Fed officials are ready to dial back on the inflation fight. And navigating such a tricky economy — without throwing hundreds of thousands of Americans out of work — could cement Powell's legacy.

☆ Here are Thursday's biggest analyst calls: Meta, Apple, Tesla, Netflix, Roku, Disney, Exxon & more
▼ + stars: | 2023-01-12 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Here are the Thursday's biggest calls Wall Street: Credit Suisse upgrades AECOM to outperform from neutral Credit Suisse said the company is a key beneficiary of infrastructure stimulus. UBS reiterates Apple as buy UBS said it's sticking with its buy rating on the stock but is concerned about App Store revenue declines. Credit Suisse upgrades Boeing to neutral from underperform Credit Suisse said in its upgrade of Boeing that it sees "stronger aircraft deliveries." RBC names Meta a top 2023 pick RBC said it sees "multiple expansion" on the horizon for Meta shares. " Rosenblatt reiterates Disney as buy Rosenblatt said activist investor Nelson Peltz's push for a Disney board seat could help shares.

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Reuters GraphicsThe U.S. central bank is already adjusting to one unanticipated set of changes - an outbreak of inflation coupled with stalled growth in the U.S. labor force. "You have to identify the regime change ... Then you have to understand the transition dynamics ... and have a clear vision and insight into all of those ... "Markets calibrated to ... Chinese growth and low interest rates may prove fragile." Like recessions, which are typically identified only well after they have started, other economic turning points aren't always apparent in the moment. But as evidence of that accumulated following the 2007-2009 recession, it was only embodied into Fed policy in 2020 under a new approach that leaned against premature interest rate increases.

NEW YORK, Jan 11 (Reuters) - Anew Climate LLC, a TPG Inc-owned (TPG.O) provider of carbon emission reduction products to businesses, has agreed to invest as much as $640 million in carbon offset developer Terra Global Capital, the companies told Reuters on Wednesday. This demand gave Anew the confidence to make an investment of this scale, said Randy Lack, Anew's head of portfolio management. "We have been looking for a platform partner to do NBS (nature-based solutions) and Terra Global has a fantastic track record," Lack said in an interview. Lack said Anew would work "hand-in-glove" with Terra Global to ensure all projects meet tight criteria on environmental and social impacts. "The equity investment by Anew is catalytic to the growth of Terra Global," Leslie Durschinger, founder of Terra Global, said in an interview.

☆ AIG Finance Chief Takes Temporary Medical Leave
▼ + stars: | 2023-01-11 | by ( Kathryn Hardison | ) www.wsj.com time to read: 1 min

American International Group Inc. said Tuesday that Chief Financial Officer Shane Fitzsimons is taking a temporary medical leave of absence. Newsletter Sign-up WSJ | CFO Journal The Morning Ledger provides daily news and insights on corporate finance from the CFO Journal team. PREVIEWMark Lyons, who previously served as the company’s CFO, has been appointed as the interim CFO. Mr. Lyons will continue to serve in his role as the global chief actuary and head of portfolio management, the insurance company said. Write to Kathryn Hardison at kathryn.hardison@wsj.comCopyright ©2022 Dow Jones & Company, Inc. All Rights Reserved.

☆ Invest like a woman - the non-profit that wants to bridge the gender gap on Wall Street
▼ + stars: | 2023-01-11 | by ( Patricia Martell | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInvest like a woman - the non-profit that wants to bridge the gender gap on Wall StreetKatherine Jollon Colsher is the CEO of Girls Who Invest, a non-profit dedicated to increasing the number of women in portfolio management and executive leadership in the investment management industry

Shifts in tones at big banks suggest they are warming up to Chinese equities, especially as the strong returns so far and the fear of missing out on more gains start to apply pressure. "This is still a long path and we remain very bullish on Chinese equities ...and also the currency," he said. "When the market goes up, naturally that will attract international investors to look at China again," said Nicholas Yeo, head of China equities at abrdn. Foreign investors bought a net 41 billion yuan ($6.06 billion) of China stocks via the China-Hong Kong Stock Connect Scheme so far this year, compared with 90 billion yuan of China stocks bought in all of 2022. They bought a net 35 billion yuan of China stocks in December.

☆ The S&P 500 will gain almost nothing in the next decade, Stifel predicts
▼ + stars: | 2023-01-10 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +2 min

He sees the price to earnings ratio of the S & P 500 cut in half over the decade as earnings per share double, leaving the index little changed overall. Stifel forecasts that in 2031, the S & P 500 will be about flat with its Dec. 30, 2021 peak level. Stifel's forecast is that the S & P 500 will reach 4,300 in the first half of 2023, but the investment bank sees the index falling if crude oil rises sharply. One other data point supports modest to no returns in the S & P 500 over the next decade. The S & P 500 relative to commodities fell below its 122-year trend, which usually signals flat returns in the next ten years.

☆ BlackRock's mighty tech unit is a silver lining in an awful market. But competition and a recession could test its momentum.
▼ + stars: | 2023-01-09 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +7 min

In a tumultuous year for BlackRock, its powerful Aladdin business won record new mandates. "2022 was a good litmus test for the BlackRock model vis-a-vis Aladdin," said Cathy Seifert, a senior equity analyst at CFRA Research. Now Sudhir Nair, the longtime BlackRock executive who runs the Aladdin business globally, and his sprawling business face a test: Keeping that momentum. "To get new business, Aladdin may have to sharpen their pencils, despite the fact that I do think they still retain a best-in-class position," Seifert said. Influential rival money managers like Two Sigma, Pimco, State Street, and Amundi have been putting resources behind their own proprietary tech platforms.

☆ Investors should be careful reading into Fed messaging, says Advisors Capital's Feeney
▼ + stars: | 2023-01-05 | 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 EmailInvestors should be careful reading into Fed messaging, says Advisors Capital's FeeneyJoAnne Feeney, Advisors Capital Management partner and portfolio manager, and Zachary Hill, Horizon Investments head of portfolio management, join 'Squawk Box' to discuss how equities look this year to Feeney, when there will be a good time to buy stocks investors like and more.

☆ Watch CNBC's full interview with Advisors Capital's JoAnne Feeney and Horizon Investment's Zachary Hill
▼ + stars: | 2023-01-05 | 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 Advisors Capital's JoAnne Feeney and Horizon Investment's Zachary HillJoAnne Feeney, Advisors Capital Management partner and portfolio manager, and Zachary Hill, Horizon Investments head of portfolio management, join 'Squawk Box' to discuss how equities look this year to Feeney, when there will be a good time to buy stocks investors like and more.

☆ Bank of America's stock chief warns that the S&P 500's popularity could be its worst enemy as investors crowd in. She told us her strategy for avoiding that volatility in a rocky 2023 market.
▼ + stars: | 2022-12-28 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

Crowding in S&P 500 index funds make the index vulnerable to volatility, Savita Subramanian says. The Bank of America equity chief currently sees the S&P 500 at 4,000 by year-end 2023. "The S&P 500 is one of the most liquid equity benchmarks — it's made up of the largest stocks in the world," she continued. "Given this crowding into the S&P index, we've actually seen the S&P 500 exhibit higher realized volatility than the Russell 2000 or less historically-liquid benchmarks. She then sees the market stabilizing and the S&P 500 recovering to around 4,000 by the end of 2023.

Vanguard vs. TD Ameritrade: The biggest differencesCompare Vanguard and TD Ameritrade VanguardTD Ameritrade investment account Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Read our review Read Our Review A looong arrow, pointing rightVanguard and TD Ameritrade's features and account options also vary. Most of the brokerage's actively managed mutual funds have a $3,000 minimum, but you'll only need $1,000 for investor shares in Vanguard Target Retirement Funds and the Vanguard Star Fund. Its other automated investing account, Vanguard Personal Advisor Services, offers something more: one-on-one advisor guidance. Vanguard vs. TD Ameritrade — Frequently asked questions (FAQ)What is the difference between Vanguard and TD Ameritrade?

☆ 10 money managers who quietly control the vast fortunes of Jeff Bezos, Sergey Brin, the Waltons, and other big-name billionaires
▼ + stars: | 2022-12-27 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +24 min

Many über-rich people don't outsource their wealth — they hire their own chief investment officers. He left SAC in 2005 for Dune Capital Management, but stayed in touch with Steve during his five-year term at the investment firm. Andrew oversees CPV's portfolio, which primarily comprises direct private investments such as Collectors Universe, a collectibles-authentication company, and the New York Mets. In 2011, Wildcat Capital Management was launched with Potter as president and chief investment officer. Since November 2021, Carland has also served as the interim chief investment officer for Builders Vision's asset arm.

☆ Analysis: Investors count on bonds to rescue battered 60/40 portfolio in 2023
▼ + stars: | 2022-12-21 | by ( David Randall | ) www.reuters.com time to read: +5 min

A 60/40 portfolio, which typically allocates 60% of assets into stocks and 40% into bonds, counts on moves in the two asset classes to offset one another, with stocks strengthening amid economic optimism and bonds rising during uncertain times. So-called 60/40 portfolios, which mix stocks and bonds, are on place for their first down year since 2018. Though market participants tend to avoid bonds during inflationary times, they are a popular destination for haven-seeking investors when the economy wobbles. Consecutive annual declines in the 60/40 portfolio have been rare. Higher-than-expected borrowing costs or rebounding inflation could deal another blow to investors in both stocks and bonds.

The funds, which reflect a range of environmental, social and governance (ESG) issues, are also set to lag the performance of non-ESG funds for the first time in five years, data shows, after the fossil fuel shares they typically shun soared. "They (ESG funds) are subject to the same market movements," she added. Reuters GraphicsHowever, non-ESG funds have also suffered withdrawals, losing $420 billion in the first 11 months of 2022, the data shows. Reuters GraphicsUNDERPERFORMINGAfter several years of outperform - thanks partly to large holdings of U.S. technology stocks - ESG equity funds, which make up the bulk of assets in the sector, have fallen back to earth. ESG equity funds have lost 18% to end-November, versus a 15.8% fall in non-ego equity funds, based on Refining Lipper data.

☆ Tax-loss selling in battered U.S. stocks could spur January snap-back
▼ + stars: | 2022-12-12 | by ( David Randall | ) www.reuters.com time to read: +4 min

Yet some investors are betting a number of those beaten-down stocks and possibly the broader market could snap back in January, once the selling period is over. DoubleLine founder Jeffrey Gundlach told CNBC on Wednesday that risk assets will likely rally in January once retail investors finish tax-loss selling. Strategists at Evercore wrote on Nov. 30 that they were "buyers of stocks whose 2022 Tax Loss selling pressure will soon abate." Investors appear to have already started selling underperforming shares. Private clients at BofA, for instance, sold nearly $1.4 billion of stocks in likely tax-motivated selling in November, up from roughly $800 million last year, and appear poised to continue that outsized rate of selling this month, the firm said.

☆ U.S. producer prices increase in November; trend slowing
▼ + stars: | 2022-12-09 | by ( Lucia Mutikani | ) www.reuters.com time to read: +4 min

The report from the Labor Department on Friday also showed underlying producer prices increasing at their slowest pace since April 2021 on a year-on-year basis. "Easing producer prices foreshadow an improving inflation environment," said Jeffrey Roach, chief economist at LPL Financial in Charlotte, North Carolina. However, the monthly increase in producer prices illustrates the need for continued tightening." A 3.3% increase in food prices was offset by a 3.3% drop in energy costs. Excluding the volatile food, energy and trade services components, producer prices gained 0.3% in November.

☆ Inside SoftBank Vision Fund's awful, terrible, really bad year. How the venture fund tumbled, according to former employees, investors and rival VCs.
▼ + stars: | 2022-12-08 | by ( Hasan Chowdhury | Ben Bergman | Samantha Stokes | ) www.businessinsider.com time to read: +12 min

SoftBank's Vision Fund just experienced one of its most dismal years in its history. SoftBank's Vision Fund was once a power broker, having raised a jaw-dropping $100 billion in 2017, followed by plans to raise $108 billion for Vision Fund 2 in 2019 — two of the largest venture-investing vehicles ever established. But insiders are now questioning if it will ever regain influence, according to 11 ex-Vision Fund investors, former employees, VCs, and industry analysts who weighed in on the future of the Vision Fund. One ex-Vision Fund investor described Son, now taking the reins of Vision Fund 2, as someone who is "not a manager." Given its investing performance so far, the obvious question is what happens once Vision Fund 2 has reached full investment.

☆ Goldman Sachs boss David Solomon is way more pessimistic than his own analysts – he sees just a 35% chance the Fed avoids a recession
▼ + stars: | 2022-12-07 | by ( George Glover | ) www.businessinsider.com time to read: +3 min

There's just a 35% chance of a 'soft landing' scenario where the Federal Reserve avoids a recession, according to Goldman Sachs CEO. Even Goldman Sachs will have to make cuts in a downturn, according to Solomon. Speaking at the Wall Street Journal's CEO Council Summit, the Goldman Sachs boss shared a bearish economic outlook that makes him significantly more pessimistic than his own analysts. Goldman Sachs' head of client portfolio management said Tuesday that the Fed will probably be able to achieve a soft landing. Solomon also said that after hiring aggressively over the past two years, Goldman Sachs will likely have to make some cuts as the economy suffers a slowdown.

☆ Foreign equity funds pile into Indian financials as credit cycle picks up
▼ + stars: | 2022-12-06 | by ( Anushka Trivedi | ) www.reuters.com time to read: +4 min

MUMBAI, Dec 6 (Reuters) - Foreign investors are buying into Indian financial firms, lured by the prospects of a fresh credit cycle that may boost the stocks of the country's largest lenders. The optimism is reflected in inflows, with foreign investors buying a net of $1.74 billion worth of Indian financial stocks in November, data released by the National Securities Depository Ltd this week showed. Reuters Graphics"PALATABLE" VALUATIONIndian financial stocks are trading at a premium to their historical average, but that is not necessarily the comparison investors are looking at. This has prompted local and foreign investors to pour money into the domestic equity markets, which hit all-time highs last week. The optimism comes despite financial stocks trading at a premium to their two-year historical average on a price-to-book valuation basis.

☆ A soft landing is more likely than not, says Goldman Sachs' Luke Barrs
▼ + stars: | 2022-12-06 | 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 EmailA soft landing is more likely than not, says Goldman Sachs' Luke BarrsLuke Barrs, global head of client portfolio management at Goldman Sachs Asset Management, joins 'Closing Bell' to discuss long term equity investment, terminal rates for fixed income markets, and the growing potential for a soft landing.

☆ The Fed still has more work to do against inflation, says Horizon Investments' Zachary Hill
▼ + stars: | 2022-11-25 | 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 EmailThe Fed still has more work to do against inflation, says Horizon Investments' Zachary HillZachary Hill, head of portfolio management at Horizon Investments, joins CNBC's 'Squawk Box' to discuss his market outlook ahead of the open on Friday.

☆ Anne Hathaway-backed VC firm Pact just closed the first tranche of its $36 million seed fund. Here's the 11-slide LP deck it used to raise the capital.
▼ + stars: | 2022-11-24 | by ( Riddhi Kanetkar | Tasmin Lockwood | ) www.businessinsider.com time to read: +4 min

A female-founded VC firm has closed the first tranche of its £30 million ($36 million) early-stage fund. Check out the 11-slide LP deck the London-based firm used to raise the fresh funds. While investments will span Europe, Pact will help its portfolio companies scale into regions underserved by traditional investors, Gu told Insider. Gu will support companies looking to enter Asia while Pham and Mobassaleh-Wyndham will focus on EMEA, and specifically Türkiye. It sees this as a pull for potential portfolio companies who can then take advantage of the network's expertise.

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