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☆ Fund manager reveals his worst trade of the year — and the lessons he learned
▼ + stars: | 2024-10-02 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

Its fund manager, Sean Peche, has a track record in picking winners that have helped the fund beat the S & P 500 over the past two years without owning any of the so-called " Magnificent Seven " technology stocks. The fund manager identified the U.S.-listed Perion Network as its worst-performing stock investment of the year. As an Israeli company not included in major stock indices, the Ranmore fund manager believed it might be undervalued due to reduced investor attention. The Ranmore fund manager noted that the company's cash reserves, which stood at $188 million at the end of 2023, provided some protection against further losses. Despite the setback with Perion Network, Peche remains optimistic about other investments.

Persons: Sean Peche, Peche, Bing, CNBC's Silvia Amaro, Perion, Microsoft's Bing, PERI 1Y, Macron Organizations: Global Equity Fund, Network, Microsoft, Perion, Nippon Locations: U.S, France

☆ Olympics 2024: What to watch at the gymnastics in Paris
▼ + stars: | 2024-07-27 | by ( Kyle Feldscher | ) edition.cnn.com time to read: +5 min

Paris CNN —As competition gets well and truly underway in Paris, all eyes will turn shortly to one of the Olympic Games’ signature sports: Gymnastics. Biles comes to Paris aiming to wash away the disappointment of that Games, and has been on an absolute tear heading into Paris. She returns in Paris looking to match the feat of Czechoslovak gymnast Vera Caslavska in 1964 and 1968. While Biles and Lee are competing against each other in Paris, the two will also be teammates in the team competition that gets underway on Tuesday. Daiki Hashimoto is also aiming to equal his countryman Kohei Uchimura’s accomplishments in London and Rio de Janeiro by winning his second straight all-around gold medal.

Persons: Simone Biles, ”, USA’s, –, Biles, She’ll, Suni Lee, Lee, Vera Caslavska, Japan’s, Daiki Hashimoto, Kohei Uchimura’s, Varfolomeev Organizations: Paris CNN —, Olympic, Bercy, Team USA, US, Russian Olympic, Paris Games, Rio de Janeiro, Japan, NBC, USA, Globo •, CBC, •, ARD, ZDF, Fuji, NHK, Nippon, SKY, SuperSport • United, BBC, Discovery Eurosport Locations: Paris, Tokyo, American, Russia, Russian, Japan, London, Rio de, China, Rio, German, City of Light, Brazil, Globo • Canada, France, • Germany, New Zealand, Africa, SuperSport • United Kingdom, Europe

☆ A factory in Japan is ramping up measures to avoid animals sneaking in after a cat fell in a toxic vat and went on the loose
▼ + stars: | 2024-03-14 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +3 min

A cat snuck into a factory in Fukuyama, Japan, and fell into a toxic vat before escaping. AdvertisementOfficials in Fukuyama, Japan, put the city on alert after a cat snuck into a metal plating factory and fell into a toxic vat before then escaping. The factory, Nomura Plating, now plans to ramp up security measures to prevent animals from causing problems in the future. AdvertisementA spokesperson told AFP that it immediately alerted police, city officials, and neighboring buildings. In turn, the city's environmental division warned residents of the potential health risks, urging them to keep their distance if they spotted the toxic cat.

Persons: — Organizations: Service, Nomura, Asahi Shimbun, UK Health Security Agency, Agence France, Press, Business, AFP, Agency, Toxic Substances, Japan's Nippon TV Locations: Fukuyama, Japan

☆ This fund beat the S&P 500 without holding any Magnificent 7 stocks. Here's what they're buying right now
▼ + stars: | 2024-02-29 | by ( Ganesh Rao | ) www.cnbc.com time to read: +5 min

Picking great stocks and avoiding disastrous investments enabled the Ranmore Global Equity Fund to beat the S & P 500 over the past two years, according to its fund manager. The fund, run by portfolio manager Sean Peche, returned 31% in 2023 compared to 24% for the S & P 500 . The Ranmore fund also outperformed its benchmark with 1.8% total returns in 2022 when the S & P 500 and broader indexes nearly fell into a bear market. The fund manager says they take a probability-based approach with many small positions rather than a few big bets. However, according to the fund manager, the market appears to be undervaluing its cash and securities.

Persons: Sean Peche, Peche, Andrew, there's, Where's, Ranmore, it's Organizations: Ranmore Global Equity Fund, Microsoft, Meta, Petrobras, Japan's Nippon TV, GSK, eBay, of, Bank of America, UBS, Carrefour, ABN AMRO, Nippon Locations: Wall, of London, Europe, Ukraine, U.S, Japan, Holland, Netherlands

Tokyo CNN —The iconic Japanese animation company Studio Ghibli, which created internationally beloved films including “My Neighbor Totoro” and “Spirited Away,” has been sold to Nippon TV after failing to find a successor for its legendary co-founder and director Hayao Miyazaki. “With director Hayao Miyazaki now 82 years old and producer Toshio Suzuki also 75, Studio Ghibli has long been struggling with the issue of their successors,” the statement said. Nippon TV and Studio Ghibli have long worked together, with the former broadcasting Ghibli films on air, investing in Ghibli movie productions, and even helping fund the Ghibli Museum, the statement said. Under the new arrangement, Nippon TV will become the largest Ghibli shareholder with 42.3% of the voting rights. Since its founding in 1985, Studio Ghibli has been known for its hand-drawn animation, sticking to old-school, painstaking frame-by-frame methods.

Persons: ”, Hayao Miyazaki, Toshio Suzuki, “, —, Ghibli, Miyazaki, Suzuki, Mononoke ” Organizations: Tokyo CNN, Ghibli, Nippon TV, Nippon, Kyodo, Suzuki, Ghibli Museum Locations: Tokyo

TOKYO (AP) — Studio Ghibli, the famed Japanese animation studio of Hayao Miyazaki, will become a subsidiary of Nippon Television Network Corp., both sides said Thursday. Nippon TV said it will send executives to support Ghibli’s management, while honoring its creative independence so it can focus on animation and other artistic projects. Ghibli and Nippon TV have collaborated in the past, since “Nausicaä of the Valley of the Wind” aired on TV in 1985. Nippon TV has also helped produce various Ghibli works, starting with Miyazaki’s 1989 “Kiki’s Delivery Service.” It also helped set up the museum devoted to Ghibli works in Tokyo. He has produced an extensive range of animation works enjoyed by adults as well as children, including “My Neighbor Totoro” and “Ponyo.”___Yuri Kageyama is on Twitter https://twitter.com/yurikageyama

Persons: Hayao Miyazaki, Miyazaki, Toshio Suzuki, Suzuki, Yoshikuni Sugiyama, Sugiyama, Goro, “, ”, ” Miyazaki, ” ___ Yuri Kageyama Organizations: TOKYO, Nippon Television Network Corp, Nippon, Ghibli, Nippon TV Locations: Tokyo

☆ Factbox: Kazuo Ueda: Who is the new Bank of Japan governor and what can we expect from him?
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +4 min

TOKYO, Feb 10 (Reuters) - Japan's government is likely to appoint Kazuo Ueda, an academic and a former member of the Bank of Japan's policy board, as the next central bank governor, two government officials told Reuters on Friday. The 71-year-old is widely seen as an expert on monetary policy, but is seen as a surprise appointment by analysts. The following are some key questions and answers about the next central bank governor in the world's third-largest economy and the challenges he faces. He is an external director at JGC Holdings Corp (1963.T), an engineering company and at the state-owned Development Bank of Japan. In a 2016 article, Ueda wrote that the BOJ's ultra-easy policy seemed to be "reaching its limits".

The BOJ’s YCC faces a reckoningThe surprise news left investors and analysts trying to parse Ueda's recent commentary. "There is probably a lack of clarity on Ueda's policy leanings at the moment, but at least it is clear that Amamiya (who is seen as a dove) is out. That removes one of the headwinds for the yen," said Christopher Wong, currency strategist at OCBC in Singapore. "The knee-jerk reaction in yen appreciation is more of a reaction to Amamiya being out of the race." I think the new team means that they will redesign the BOJ's monetary policy, not maintain the current policy," said Takayuki Miyajima, a senior economist at Sony Financial Group in Tokyo.

☆ Morning Bid: Volatility stirs
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +5 min

World markets end a rough week of confusing and competing narratives in distinctly edgy form, with peculiarly subdued volatility gauges flickering back to life. Both 10 and 30-year yields hit their highest levels in over a month early on Friday. Job shedding in the digital sector continued, with Yahoo's plans to lay off more than 20% of its total workforce. That said, the year-on-year oil price trend continues to be negative, as it's been all year and base effects from last year's price spike around the Ukraine invasion will only deepen that and weigh on headline inflation further. Goldman Sachs lowered its oil price forecasts for this year and next, cutting its Brent 2023 price forecast by $6 to $92 per barrel - still above current levels around $86.

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