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☆ Greenlight's David Einhorn says the markets are broken and getting worse
▼ + stars: | 2024-11-14 | by ( Bob Pisani | ) www.cnbc.com time to read: +7 min

As he has done several times before, Einhorn pointed a finger at passive, index investors: "The passive people, they don't care what the value is." "I view the markets as fundamentally broken," Einhorn said back in February on Barry Ritholtz's "Masters in Business" podcast. "You have these companies, and all they do is they manage these expectations, right?," Einhorn told Picker. This is causing great pain to value investors like Einhorn, many of whom have seen cash flee their funds. Another reason for long-term underperformance by active managers: They are competing against other active managers who have very little competitive edge against each other.

Persons: David Einhorn, Greenlight Capital's David Einhorn, Leslie Picker, Einhorn, It's, Picker, Barry Ritholtz's, Rob Arnott, Arnott, there's, doesn't, RAFI, you'd, I'm Organizations: Greenlight Capital, CNBC Delivering Alpha Investor, Alpha, CNH, Interactive, Cornell grad, Research Affiliates, P Global Locations: New York City, U.S

A majority of respondents — 61% — in the latest CNBC Delivering Alpha Stock Survey believe the broader market has run too far, too fast heading into the second quarter and a pullback is near. The S & P 500 is up more than 9% in the first quarter, which would be its best start to a year since 2019. When it comes to investing domestically 26% said the Nasdaq 100 was the best place to be compared to 13% from the S & P 500. That stock is up 245% in a year and 120% in six months far outpacing every other stock in the S & P 500 except for Super Micro Computer . The rest think we're more likely to be in the 5%-to-10% range for an annual return for the S & P in the next decade.

Persons: Jerome Powell, mangers, they'd Organizations: CNBC, Alpha Stock Survey, Federal Reserve, Nasdaq, bitcoin, Investors, Nvidia, Micro Locations: Japan, United Kingdom, Europe, Canada, South Korea, United States, China

☆ Brad Gerstner says AI will be bigger than the internet, bigger than mobile
▼ + stars: | 2023-09-28 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Altimeter Capital Chair and CEO Brad Gerstner is massively bullish on artificial intelligence, saying the power of the advanced technology could even trump the internet. "AI is going to be bigger than the internet, bigger than mobile and bigger than cloud software," Gerstner said at CNBC Delivering Alpha Investor Summit on Thursday in New York. The widely followed tech investor called the rise of AI a "super-cycle" just like the dotcom boom in the late 1990s. Gerstner said he's grown hopeful about the coming years as the Federal Reserve nears the end of its tightening cycle. Learn more about CNBC's Delivering Alpha investor summit here.

Persons: Brad Gerstner, Gerstner, chatbot, he's, we're Organizations: CNBC Delivering Alpha, Nvidia, Federal Reserve, Microsoft, Alpha Locations: New York

☆ Bill Ackman believes the 10-year Treasury yield could approach 5% soon
▼ + stars: | 2023-09-28 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Billionaire hedge fund manager Bill Ackman believes long-term Treasury yields can shoot even higher in the short run on the back of stubborn inflation. "I would not be shocked to see 30-year rates through the 5% barrier, and you could see the 10-year approach 5%," he told CNBC's Scott Wapner at the CNBC Delivering Alpha Investor Summit on Thursday in New York City. "You have a generation of people that are used to rates, you know, four sounding like a high interest rate. The benchmark 10-year Treasury yield hit a 15-year high this week, topping 4.65%, as the Federal Reserve signaled higher interest rates for longer this month. The 30-year rate last traded around 4.71%.

Persons: Bill Ackman, CNBC's Scott Wapner Organizations: CNBC, Alpha, Pershing, Capital Management, Reserve, Treasury, Federal Reserve Locations: New York City

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, September 26, 2023. Brendan McDermid | ReutersA majority of Wall Street investors haven't taken solace in stocks' 2023 gains, thinking the market could retreat further as risk of a recession creeps up, according to the new CNBC Delivering Alpha investor survey. Zoom In Icon Arrows pointing outwardsMore than 60% of respondents believe the stock market's gain this year has just been a bear market bounce, seeing more trouble ahead. A total of 39% of investors believe we are already in a new bull market. The market also contended with a rally in crude oil as well as a 10-week winning streak for the dollar.

Persons: Brendan McDermid, Stocks Organizations: New York Stock Exchange, Reuters, Wall Street, CNBC Delivering Alpha, CNBC, Federal Reserve Locations: New York City

☆ Bill Ackman lays out a series of reasons why he's betting rates keep rising — How you can play along
▼ + stars: | 2023-09-22 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

The 30-year Treasury yield was trading at 4.575% on Friday morning after hitting its highest level since 2011 on Thursday. US30Y YTD mountain The 30-year Treasury yield hit a new high for the year on Thursday. Ackman said he thinks 5.5% could be more the rational yield for the 30-year Treasury. The largest inverse bond ETF is the ProShares UltraShort 20+ Year Treasury ETF (TBT) , according to VettaFi. ProShares also has the Short 20+ Year Treasury ETF (TBF) , which is a one-times inverse fund.

Persons: Bill Ackman, Ackman, Ackman's, ProShares Organizations: Treasury, Reserve, Workers, ICE U.S, Pershing, Capital Management, CNBC, Alpha Locations: China

Most Wall Street investors believe the best way to take advantage of the artificial intelligence boom is to buy Big Tech stocks, according to the new CNBC Delivering Alpha investor survey. Forty-seven percent of respondents said big-cap tech companies are the best way to invest in AI, while 37% believe there's too much hype around the space. The chipmaker has been at the center of an AI craze on Wall Street. Investors piled into the AI enabler after the company recently made a shockingly strong forecast of future demand. Alphabet's AI capabilities and ambition attracted buying from big investors recently, including Stanley Druckenmiller 's Duquesne Family Office, Dan Loeb's Third Point and Bill Ackman's Pershing Square Capital Management.

Persons: Buzzy chatbot ChatGPT, Stanley Druckenmiller, Dan Loeb's, Bill Ackman's Organizations: Big Tech, CNBC Delivering Alpha, CNBC, Nasdaq, Microsoft, Google, Duquesne Family Office, Bill Ackman's Pershing, Capital Management

Source: NYSEThe majority of Wall Street investors believe stocks have entered a new bull market and the U.S. economy will skirt a recession in 2023, according to the new CNBC Delivering Alpha investor survey. Zoom In Icon Arrows pointing outwardsSixty-one percent of respondents believe the market has entered a new bull run, while 39% think this is a bear market rally. Technically speaking, some have already declared a brand new bull market after the S&P 500 met the most simplistic standard by closing up 20% from its October bear market low. However, many investors do not consider it the end of a bear market until the S&P 500 reaches a new high. The S&P 500 is about to end the first half with flying colors, up nearly 15% after four straight winning months in a row.

Persons: Carol Schleif, Jason Draho Organizations: NYSE, Wall, CNBC Delivering Alpha, CNBC, BMO Family Office, UBS Global Wealth Management Locations: U.S

☆ As Wall Street turns bearish on the U.S., here's where the pros say to invest
▼ + stars: | 2023-04-04 | by ( Zavier Ong | ) www.cnbc.com time to read: +6 min

Within Europe, Goldman prefers companies in value sectors that pay dividends , as well as select defensive and growth stocks in the market. Emerging markets Several Wall Street analysts are putting their money on emerging markets, with most bullish on China, the world's second-largest economy. While the bank expects just 1% earnings growth for emerging market stocks, it said the sector's valuation looks attractive at a 23% discount to global peers. Philip Blancato, CEO at Ladenburg Thalmann Asset Management, is also bullish on emerging markets. He added that the case for adding to emerging market allocations is growing, particularly given the "near guarantee" of a softer dollar in the short- to medium-term.

☆ Play defense with these fortress stocks in the second quarter
▼ + stars: | 2023-04-02 | by ( Michelle Fox | ) www.cnbc.com time to read: +9 min

Bahnsen's investment philosophy focuses specifically on high-quality stocks that have a high dividend yield, along with consistent increases. One of his favorite plays is Procter & Gamble , which currently has a dividend yield of 2.5%. EOG has a 2.9% dividend yield and also has been paying a special dividend. Health-care names Names in the health-care sector are generally considered defensive. Quanta Services has a dividend yield on the lower end, at 0.2%.

The majority of Wall Street investors now favor stocks that pay big dividends for a relatively stable source of income, according to the new CNBC Delivering Alpha investor survey. We polled about 400 chief investment officers, equity strategists, portfolio managers and CNBC contributors who manage money about where they stood on the markets for the second quarter and forward. Asked which area to concentrate on to start the second quarter, 34% of respondents said high dividend stocks. Stocks with high dividend payouts can provide a reliable stream of income during times of uncertainty. Some of the most popular exchange-traded funds that focus on high dividend stocks include the Vanguard Dividend Appreciation ETF , the Vanguard High Dividend Yield ETF and the Schwab U.S. Dividend Equity ETF .

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, March 28, 2023. Brendan McDermid | ReutersWall Street investors believe the stock market is headed for losses after a positive first quarter, seeing cash as the best safe haven right now, according to the new CNBC Delivering Alpha investor survey. Zoom In Icon Arrows pointing outwardsThe Fed enacted a quarter percentage point interest rate increase last week, while signaling one more rate hike coming this year. Many investors believe the central bank should reverse course immediately as more rate hikes will exacerbate banking problems and cause a severe economic slowdown. With an overall bearish view on the market, 60% of the investors said cash is their safe haven right now.

Source: NYSE(Click here to subscribe to the new Delivering Alpha newsletter.) Despite this year's market havoc, investors are feeling fairly optimistic going into 2023, according to a new CNBC Delivering Alpha investor survey. Notably, when asked about their biggest concern for the market, an overwhelming 73% of the participating money managers said it was Fed policy. Zoom In Icon Arrows pointing outwards CNBC Delivering Alpha investor surveyComing in second place was a Chinese invasion of Taiwan. Inflation and the investing environmentAbout four out of five participating money managers predict that inflation will continue to ease in the new year.

☆ Citadel's Ken Griffin warns the US economy will enter an immediate 'great depression' if China invades Taiwan and cuts off access to its semiconductor industry
▼ + stars: | 2022-11-16 | by ( ) www.businessinsider.com time to read: +2 min

Citadel founder Ken Griffin speaks at the CNBC Delivering Alpha conference in New York on September 28, 2022. CNBCThe US economy would immediately enter a great depression if China invades Taiwan, according to Citadel founder Ken Griffin. The US is "playing with fire" as it balances a sensitive relationship between China and Taiwan, according to Citadel founder Ken Griffin. In an interview with Bloomberg on Tuesday, Griffin said the US would enter an "immediate great depression" if China invades Taiwan and cuts off access to its semiconductor industry. But that concentrated bet could be a big loser if Griffin's bleak view on China and Taiwan ultimately pans out.

☆ Billionaire investor Stanley Druckenmiller says owning stocks 'doesn't make a lot of sense' right now as the US economy will likely go into recession in 2023 — and warns the market is in for a decade
▼ + stars: | 2022-09-29 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

Billionaire investor Stanley Druckenmiller says the US economy is headed for a recession in 2023. Stanley Druckenmiller delivered a bleak message on Wednesday on the fate of the US economy: a recession is very likely sometime next year. "I will be stunned if we don't have a recession in '23," Druckenmiller said at the CNBC Delivering Alpha conference in New York. Given the poor macroeconomic outlook and the Fed's stated willingness to cause damage to the labor market, Druckenmiller said he's not bullish on risk assets like stocks right now. "You can have a period of 15, 20 years, 10 years where the market doesn't go anywhere.

☆ There’s a 98% chance of a global recession, research firm warns
▼ + stars: | 2022-09-28 | by ( Matt Egan | ) edition.cnn.com time to read: +2 min

New York CNN Business —Warning lights are flashing in the global economy as high inflation, drastic rate hikes and the war in Ukraine take their toll. There is currently a 98.1% chance of a global recession, according to a probability model run by Ned Davis Research. The only other times that recession model was this high has been during severe economic downturns, most recently in 2020 and during the global financial crisis of 2008 and 2009. “This indicates that the risk of a severe global recession is rising for some time in 2023,” economists at Ned Davis Research wrote in a report last Friday. Seven out of 10 economists surveyed by the World Economic Forum consider a global recession at least somewhat likely, according to a report published Wednesday.

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, September 26, 2022. (Click here to subscribe to the new Delivering Alpha newsletter.) The Federal Reserve's most aggressive pace of tightening since the 1980s is making the majority of Wall Street investors believe stocks will be underwater for longer, according to the new CNBC Delivering Alpha investor survey. We polled about 400 chief investment officers, equity strategists, portfolio managers and CNBC contributors who manage money, asking where they stood on the markets for the rest of 2022 and beyond. Fifty-eight percent of respondents said their biggest concern for the markets right now is the Fed being too aggressive.

With the market turmoil raging on, the majority of Wall Street investors are now favoring dividend-paying stocks and value names into the end of the year, according to the new CNBC Delivering Alpha investor survey. About a third of the respondents said they are most likely to buy stocks paying high dividends now. Unlike growth stocks, dividend stocks typically don't offer dramatic price appreciation, but they do provide investors with a stable source of income during times of uncertainty. The three most popular dividend exchange-traded funds are the Vanguard Dividend Appreciation ETF , the Vanguard High Dividend Yield ETF and the Schwab U.S. Dividend Equity ETF . The survey also showed that investors' biggest concern right now is the Fed being too aggressive.

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