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☆ 4 market experts share 10 places to invest your money after September's jobs data blew expectations out of the water
▼ + stars: | 2024-10-05 | by ( Christine Ji | ) www.businessinsider.com time to read: +7 min

Below, four market experts share how investors should allocate their money going forward. The US job market blew past economists' predictions, with total nonfarm payrolls increasing by 254,000 last month — over 100,000 more jobs than expected. Chris Zaccarelli, chief investment officer, Independent Advisor AllianceThe job market is showing signs of strengthening with the September data. With that being said, the current environment presents many opportunities to invest in equities, according to Zaccarelli. "Recession fears are elevated, and we think those are underpriced, underappreciated parts of the market," Zaccarelli said.

Persons: —, we've, Liz Ann Sonders, Charles Schwab, Sonders, there'll, it's, Jeffrey Roach, Roach, Lisa Shalett, Morgan, Shalett, Chris Zaccarelli, Zaccarelli Organizations: Service, Federal Reserve, Investors, Fed, Morgan Stanley Wealth Management, Independent

☆ Stock market today: US stocks jump after blowout September jobs report
▼ + stars: | 2024-10-04 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

US stocks surged after the September jobs report exceeded expectations with 254,000 jobs added. Wage growth saw a resurgence, with average hourly earnings rising 0.4% month-over-month. AdvertisementUS stocks surged on Friday after the September jobs report blew past economist estimates. The chances of a 50 basis point cut plunged to 10% after the jobs report was released, compared to 53% last week, according to the CME FedWatch Tool. Another strong aspect of the jobs report was wage gains, according to Capital Economics.

Persons: —, James Knightley, Knightley, Paul Ashworth Organizations: Service, ING, Federal Reserve, Capital Economics

☆ The smart money is bracing for a stock-market pullback with 2 options strategies. Why one works better in the current environment.
▼ + stars: | 2024-10-04 | by ( Laila Maidan | ) www.businessinsider.com time to read: +4 min

Investors are seeking S&P 500 downside protection as rate cuts shift focus to growth concerns. S&P 500 long-dated put options are a preferred approach int he current market environment. Demand for downside protection on the S&P 500 is starting to build. But one approach that's beginning to pick up, with advantages in the current market environment, is hedging S&P 500 downside through options contracts. Annually, the CBOE Volatility Index (VIX) — a measurement of implied volatility — gradually rises starting in the middle of summer and into October.

Persons: —, Tanvir Sandhu, Sandhu, Brent Organizations: Service, Bloomberg Intelligence

☆ The September jobs report dashed hopes for another jumbo rate cut next month
▼ + stars: | 2024-10-04 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

AdvertisementThe September jobs report offered good news all around — except to those expecting a second straight jumbo 50-basis-point rate cut from the Federal Reserve next month. In addition, the unemployment rate unexpectedly fell to 4.1%, bucking estimates that it would stay unchanged at 4.2%. Analysts agree that September's blowout job numbers make an aggressive interest rate cut harder to justify. Advertisement"Did the Fed even need to cut rates in September, let alone cut by 50 basis points?" Late last month, the bank predicted that investors would take on more risk if the unemployment rate hit 4.1% and if payrolls reached above 150,000.

Persons: —, Seema Shah, Glen Smith, Morgan Stanley, payrolls, Smith Organizations: Service, Federal Reserve, Asset Management, GDS Wealth Management, Federal

☆ Interpreting the jobs data: No more half-point rate cuts
▼ + stars: | 2024-10-04 | by ( Fred Imbert | Kavitha Shastry | ) www.cnbc.com time to read: +2 min

The U.S. economy added a whopping 254,000 jobs in September, nearly 100,000 more than economists expected. The unemployment rate, which was expected to hold steady at 4.2%, slipped to 4.1%. Wages also rose more than expected month over month. To be sure, the new data also has traders pricing a smaller quarter percentage point interest rate reduction at the central bank's November meeting. "Fed cuts should be slower and I continue to think (and the data supports it) that the current neutral rate is well above 3% (economy chugging along on 5% yields for over a year)," said Tchir.

Persons: Sonu Varghese, Glen Smith, Lindsay Rosner, Ian Lyngen, Peter Tchir Organizations: Stock, Dow Jones Industrial, Nasdaq, Federal, Carson Group, GDS Wealth, Goldman Sachs Asset Management, BMO Capital Markets, Academy Securities Locations: U.S

☆ Jim Cramer says strong jobs report suggests no imminent recession — and that's good for stocks
▼ + stars: | 2024-10-04 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +2 min

The stronger-than-expected September jobs report is good news for Main Street and Wall Street, CNBC's Jim Cramer said Friday. That kind of backdrop should lend support to corporate earnings and by extension the stock market, he said. Indeed, all three major U.S. stock indexes traded modestly higher Friday after the jobs report. The September jobs report arrived about two weeks after the Federal Reserve began its easing cycle with a larger-than-usual half-percentage point reduction in its benchmark lending rate. "We're about to have [third-quarter] earnings," Cramer said.

Persons: CNBC's Jim Cramer, Cramer, we're Organizations: Main, Federal Reserve Locations: U.S

☆ Stock market today: Dow notches record high after strong jobs report eases slowdown worries
▼ + stars: | 2024-10-04 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

US stocks rose 1% and the Dow hit a record as the jobs report alleviated slowdown worries. AdvertisementUS stocks surged about 1% on Friday after the September jobs report soothed fears of an economic slowdown. According to the CME FedWatch Tool, odds of a 50-basis point cut dropped to 0% from 53% last week. Consensus now expects two 25-basis point rate cuts from the Fed at their next two FOMC meetings before year-end. ING's chief economist, James Knightley, said the jobs report was "unambiguously strong."

Persons: —, Dow, Sonu Varghese, Jeffrey Roach, James Knightley, Knightley Organizations: Dow, Service, Federal, Fed, Financial Locations: Here's

☆ There's a simple reason one of Wall Street's most bullish strategists expects a 40% rise in the S&P 500 by 2030
▼ + stars: | 2024-10-04 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Ed Yardeni predicts the S&P 500 could reach 8,000 by 2030. AdvertisementThere's a simple reason one of the most bullish Wall Street strategists expects the stock market to continue rising in the years ahead: compound interest. At a compounded annual growth rate of between 6% and 7%, the S&P 500 is on track to hit 8,000 by 2030, representing potential upside of about 40% from current levels. "The S&P 500 stock price index is driven by its earnings per share (EPS), which has been growing mostly between 6% and 7% since the 1950s," Yardeni said. He added: "EPS could double to $400 by the end of the decade in our Roaring 2020s scenario," Yardeni said.

Persons: Ed Yardeni, —, it's, Yardeni Organizations: Service, Yardeni, Federal Reserve

☆ Stock market next week: Investors wonder what's to come after tumultuous October start
▼ + stars: | 2024-10-04 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Stocks struggled this week as rising tensions in the Middle East set off the strongest rally in oil prices since March 2023. "The stock market has been living up to October's reputation of increased volatility," said Glen Smith, chief investment officer at GDS Wealth Management. Inflation report, Fed minutes on deck In the week ahead, investors will keep an eye on a couple of potential catalysts. On Wednesday, investors will parse minutes from September's central bank gathering for insights into the future path of monetary policy. "I would say the inflation report is probably less important than it used to be," Dickson said.

Persons: Stocks, Glen Smith, Said, Mike Dickson, Chris Zaccarelli, Zaccarelli, Investment's Dickson, It's, Dickson, Wells, John Williams, JPMorgan Chase Organizations: Dow Jones Industrial, Nasdaq, Federal Reserve, GDS Wealth Management, Federal, Horizon Investments, CNBC Pro, Independent, Alliance, PepsiCo, Delta, JPMorgan Chase, PepsiCO, New York Fed, PPI, University of Michigan, BlackRock, Bank of NY Mellon, JPMorgan Locations: White, Wells Fargo, Fastenal, Wells

☆ Russia can rely on China for the yuan, but China can't rely on anyone else
▼ + stars: | 2024-10-04 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

Western sanctions have forced Russia to rely on the Chinese yuan for reserves and trade. China's financial system is deeply tied to the greenback, limiting diversification options. These include the entrenched role of the greenback in the global commodities trade and much larger foreign reserves than Russia, wrote Greene, a former senior advisor at the US Treasury. However, many CIPS participants are highly connected to the dollar financial system and potentially subject to the reach of US sanctions. The dollar is still kingIn short, China just can't copy Russia's sanctions-proofing playbook and is likely to continue orbiting around the dollar financial system in the near-term.

Persons: —, China —, Robert Greene, Greene, China's, It's, dollarization, James Lord, Morgan Stanley's, Michael Zezas Organizations: Service, Carnegie Endowment Asia, US Treasury, Patomak Global Partners, Federal Reserve Bank of Boston Locations: Russia, China, Beijing, Russia's, Ukraine

☆ Stock market today: Indexes fall, oil surges on Middle East turmoil ahead of jobs report
▼ + stars: | 2024-10-03 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Traders are watching rising risks to oil supplies as tensions in the Middle East escalate. US oil spiked 5.5% to $73.98 a barrel and Brent prices rose more than 5% to trade at $77.86. If the conflict destroys Iran's oil infrastructure, oil prices could surge 161% to over $200 a barrel, according to SEB's chief commodities analyst Bjarne Schieldrop. AdvertisementInvestors are eagerly awaiting the September jobs report, due Friday, for further signs of labor market health. Markets are pricing in a 65% chance of a smaller 25 basis point cut in November, according to the CME FedWatch Tool.

Persons: Friday's nonfarm, Biden, —, Joe Biden, retaliating, Biden's, Brent, Bjarne Schieldrop, Economists, Jensen Huang, Blackwell Organizations: Traders, Service, Dow Jones, Nasdaq, Treasury, Israel, Labor Department, Federal Reserve, Costco Locations: Israel, Iran

☆ Stock markets today: Indexes slip as jobless claims rise ahead of highly anticipated jobs report
▼ + stars: | 2024-10-03 | by ( Kelly Cloonan | ) www.businessinsider.com time to read: +3 min

Indexes edged lower Thursday as investors assessed jobless claims and geopolitical tensions. On Friday, investors will get a fresh labor market update from the September nonfarm payrolls report. AdvertisementUS stocks inched lower on Thursday, fueled by an uptick in jobless claims ahead of a key jobs report and continued tensions in the Middle East. Analysts say the report will likely have a big influence on both markets and the Fed in the coming weeks. Advertisement"We think a soft employment report is likely to generate a larger market response vs a strong labor report," Bank of America analysts said in a Wednesday report.

Persons: —, Israel Organizations: Service, Labor Department, Israel, Federal, Bank of America, Trump, RBC Locations: Iran

☆ Beware of 'seismic shocks' to the US economy and inflation if this specific election outcome occurs, according to a top mind at Bloomberg Economics
▼ + stars: | 2024-10-03 | by ( James Faris | ) www.businessinsider.com time to read: +7 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . You can opt-out at any time by visiting our Preferences page or by clicking "unsubscribe" at the bottom of the email. AdvertisementOne election result may cause 'seismic shocks'Partisans are convinced that this election is the most important ever, as they always are. The market isn't convinced, judging by where the VIX is trading just a month away from election day. "Let's think about a world where Trump gets into power and poses a 60% tariff on China," Orlik said.

Persons: there's, Tom Orlik, —, Tim Walz, JD Vance, Kamala Harris, Donald Trump, shouldn't, who'd, Nancy Davis, Davis, Tanvir Sandhu, Sandhu, Chris Murphy, Murphy, Harris, Trump, Joe Biden, Orlik, Trump's, Murphy isn't, I'm Organizations: Service, Bloomberg, White, Trump, Bloomberg Economics, Bloomberg Intelligence, Traders, Biden, Nvidia, Qualcomm Locations: Susquehanna, China

But investing in the stock market should be boring rather than exciting. While some hands-on traders approach betting on the stock market similarly to betting money on sports, the truth is they should have very little in common. Compared to sports betting, investing in the stock market should be "non-adrenaline focused," Egan said. While an explosion of confetti might make trading stocks more entertaining, investing in the stock market should be boring. Historically, the average stock market return is about 10% each year.

Persons: —, Dan Egan, Egan, Robinhood, doesn't, you'll, Ally Invest Organizations: Sports, Service, University of California, University of Southern, SoFi, Ally Locations: Massachusetts, Los Angeles, University of Southern California

Best Credit Cards for Amazon of 2024Compare the Best Amazon Credit CardsEarn 5% back at Amazon and Whole Foods Prime Visa Apply now lock icon An icon in the shape of lock. Best Credit Card for Amazon ReviewsPrime VisaThe best credit card for Amazon and Whole Foods purchases is the Prime Visa. Best Credit Card for Amazon Frequently Asked QuestionsWhat are the main benefits of credit cards for Amazon purchases? Compared to other rewards cards, Amazon credit cards offer higher cashback rates on purchases made at Amazon and Whole Foods. There are four personal Amazon credit cards: The Prime Visa, Amazon Visa, Amazon Store Card, and the Amazon Secured Card.

Persons: Chase, —, Cash, Wells, you've, It's, Uber, Wiley, Julie Mehretu, Peacock, Uber Cash, you'll, Cardholders, You'll, cardholders, Read, Insider's, there's, Ariana Arghandewal Ariana Arghandewal, Ariana, Guy, Education Ariana, ExperienceExpertiseEducation Read, Tessa Campbell, Tessa, she’s, Angela Fung Organizations: Business Insider, U.S . Bank, Citi, Citi Strata Premier, Card, Citi Prestige, American, Amazon Visa, Amazon Business Prime, Amazon, Foods, Amazon.com, Chase Travel, Visa, FDIC, U.S, Bank, Target, Walmart, Business, EV, Express, American Express, Disney, ESPN, Wells, Bank of America, of America, Hilton, Marriott, Saks, Entertainment, The New York Times, Street, TSA, Global, Saks Fifth, Amazon Reviews, . Bank, Bank Rewards, Citi Prestige ®, Air France, JetBlue, Singapore Airlines, Wyndham, Merrill, Amazon One, Amex, Southwest, Prime, Amazon Business American Express, Synchrony Bank, Amazon Business, Bankrate, CNBC, CNN, Forbes, Lonely, NBC, Traveler University, CardCon, Chicago, Expertise, Education, University of Southern, Susquehanna University, Finance Locations: U.S, Hulu, Wells, Air, That's, Merrill ., Chase, University of Southern California

☆ Stock futures are little changed as Wall Street awaits September jobs report: Live updates
▼ + stars: | 2024-10-03 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

U.S. stock futures were flat on Thursday night as traders looked ahead to the widely anticipated release of September's jobs report on Friday morning. S&P 500 futures and Nasdaq 100 futures were also unchanged. These moves came after the major averages ended Thursday's trading session with losses. U.S. oil futures climbed about 5% Thursday, weighing on the major averages. Indeed, all three major averages are already on pace for weekly losses.

Persons: Dow Jones, Barbara Doran, I'd, it's, Doran Organizations: New York Stock Exchange, Dow Jones, Nasdaq, International Longshoremen's Association, United States Maritime Alliance, Dow, BD8 Capital Partners Locations: New York City . U.S, U.S, East, Iran, Israel

☆ Ina Garten gave up a job at the White House to become an entrepreneur — without business experience. Here's what the risky move taught her.
▼ + stars: | 2024-10-03 | by ( Anneta Konstantinides | ) www.businessinsider.com time to read: +9 min

Ina Garten gave up her White House job to buy a specialty food store called Barefoot Contessa. AdvertisementWhen Ina Garten gave up her job at the White House to buy a specialty food store in New York called Barefoot Contessa, she had never run a business. "I was too tired to go home, so I had cleared a space, wrapped myself in a sweater, and went to 'bed,'" Garten wrote. Related stories"I love when changing your behavior — in this case, how I dressed — changes everything without your saying a word," Garten wrote. Advertisement"Anna was important to me, so I didn't have a moment's hesitation in supporting her," Garten wrote.

Persons: Ina Garten, —, Garten, " Garten, Matthew Peyton, Joan Boyce, Instagram Garten, who'd, Contessa, Anna, Sybille van Kempen, Ina, Dean, DeLuca, Joel Dean, Robert Lachman, she'd, Barefoot Contessa, Jeffrey Organizations: Service, White, Food Network, George Washington University, Barefoot Contessa, Joan Boyce Jewelry, Contessa, Los Angeles Times, Barefoot, & $ Locations: New York, East Hampton , New York, Bridgehampton, East Hampton

☆ OpenAI's chairman says AI is in a bubble — but one that could be wildly lucrative
▼ + stars: | 2024-10-03 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +4 min

The AI bubble, Taylor said, will be similar to the dot-com bubble in the late 1990s. AdvertisementThe buzz surrounding AI may echo the exuberance and excesses of the dot-com bubble in the late 1990s, OpenAI chairman Bret Taylor said in a podcast that aired on Wednesday. "I think the AI bubble will rhyme with the dot-com bubble and I believe with the benefit of hindsight, most of the excess of the dot-com bubble might have been justified," Taylor added. Most of today's leading tech companies like Amazon and Google, Taylor said, were started during the dot-com bubble. Advertisement"A huge percentage of the gains in the stock market over the past 30 years have more or less been these digital companies created in the dot-com bubble," Taylor said.

Persons: Bret Taylor, Sam Altman's, Taylor, Harry Stebbings, —, Sam Altman, Mark Twain, Stebbings, Elon Musk, Goldman Sachs, Jim Covello, hasn't, We’ve, Elon, Musk Organizations: OpenAI's, Service, Google, Business Insider, Stanford, Facebook, Elon Locations: OpenAI, Silicon Valley

☆ Typhoon Krathon: Two killed as slow moving storm slams into southern Taiwan
▼ + stars: | 2024-10-03 | by ( Chris Lau | Eric Cheung | ) edition.cnn.com time to read: +3 min

With winds of up to 135 kilometers per hour (85 miles per hour), Typhoon Krathon made landfall along southern Taiwan shortly after noon on Thursday, the equivalent of a Category 1 Atlantic hurricane. The other was a 70-year-old man who fell while trimming a tree during the typhoon, according to the center. A man runs amid heavy rain and powerful winds, as Typhoon Krathon makes landfall in the port city of Kaohsiung, Southern Taiwan, on October 3, 2024. Daniel Ceng/Anadolu/Getty ImagesFor several hours before making landfall, Krathon moved slowly along the southern coast. Strong winds knock down trees during Typhoon Krathon in Kaohsiung.

Persons: Krathon, Daniel Ceng, Lai Ching, Chen Chi, “, Liao Shian, ”, Julien Organizations: Taiwan CNN, Emergency Operations Center, Getty, Taiwan, Ministry of Economic Affairs, Taiwan . Schools, AFP, CNA, Getty Images University, Reuters, Philippine News Agency Locations: Taipei, Taiwan, Kaohsiung, Kaohsiung , Southern Taiwan, Anadolu, Philippines, Krathon, Tainan, Stringer

☆ Oil is driving the stock market for the first time in a long while
▼ + stars: | 2024-10-03 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

Oil prices keep pushing higher as tensions build in the Middle East, and the moves in crude appear to be weighing on the stock market. Overlaying the charts of the United States Oil Fund LP (USO) and the S & P 500 in recent days shows that the fund and the index appear to be inversely correlated. In other words, when the oil fund climbs during the day, the stock market tends to dip, and vice versa. This is a change from rest of the year, when there appeared to be little relationship between the price of oil and the broad stock market. In midday trading Thursday, U.S. crude oil prices were up 4% , and the USO had jumped roughly 3%.

Persons: Jeremiah Buckley, Janus Henderson, Buckley Organizations: United States Oil Fund, CNBC, USO Locations: Iran, Israel

☆ Here are the big things pulling the stock market in all different directions
▼ + stars: | 2024-10-02 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Apple Intelligence : Club stock Apple turned positive Wednesday, despite more analysts trimming their 2024 iPhone 16 estimates. Interestingly, Apple Intelligence is the sixth top reason someone would buy a new iPhone, according to a recent survey by JPMorgan analysts. 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.

Persons: Jim Cramer, payrolls, Jensen Huang, Levi Strauss, Michelle Gass, Jim Cramer's, Jim Organizations: CNBC, ., U.S, Israel . Semiconductor, Broadcom, Nvidia, Accenture, Financial Times, Amazon, Apple Intelligence, Apple, JPMorgan, Club, Constellation Brands, Modelo, Jim Cramer's Charitable Locations: Iran, Israel, Corona, Pacifico

☆ Stock market today: Indexes extend losses as traders watch Middle East tensions
▼ + stars: | 2024-10-02 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

Oil prices surged after Iran attacked Israel, fueling the sell-off. AdvertisementUS stocks dropped Wednesday as traders continued to monitor escalating tensions in the Middle East. Major indexes slumped in early morning trading while oil prices spiked for a second day, with the international crude benchmark up 2.7% to $75.63 a barrel. Investors sold stocks Tuesday after Iran launched a missile attack on Israel early Tuesday, causing some to flee to risk-off assets. "The stock market impact of geopolitical tensions largely centers around oil prices, and as long as oil prices remain below $100 per barrel and corporate profits remain strong, that is supportive of higher stock prices."

Persons: —, Mary Ann Bartels, Bartels Organizations: Service, Lombard, Sanctuary Wealth, Fed Locations: Iran, Israel

☆ Stock market today: US stocks edge up amid Middle East turmoil as traders turn to incoming data
▼ + stars: | 2024-10-02 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +2 min

US stocks closed higher on Wednesday as traders looked to coming economic data. The September jobs report, a key data point for the next rate move, is due out Friday. AdvertisementUS stocks ended slightly higher on Wednesday as traders anticipated key economic data in the US and looked past simmering tensions in the Middle East. Markets are also taking in positive jobs data, with the private sector adding 143,000 jobs last month, according to ADP. The latter will serve as a key data point when central bankers decide how much further to cut interest rates.

Persons: Traders, —, José Torres, Torres, tomorrow's Organizations: Service, Investors, Interactive Brokers, ADP, Here's Locations: Iran, Israel

☆ Stocks face a 10% drop with key economic data mired in recession territory, investment chief says
▼ + stars: | 2024-10-02 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Key data prints are hovering in recession territory, Megan Horneman said. "I think investors got a little ahead of themselves," she said. This over-enthusiasm could cost the market heavily, pushing stocks toward a 7% to 10% drop, the chief investment officer said. "I think investors got a little ahead of themselves as far as the what strength there is in the economy," she told Yahoo Finance. Still, these data prints have taken a backseat to labor data, which holds the spotlight on Wall Street.

Persons: Megan Horneman, —, Tim Fiore, Morgan Stanley, Horneman Organizations: Yahoo Finance, Service, Conference Board, September's, PMI, US Federal Reserve

☆ The strategy a $69 billion hedge fund uses to make sure it never loses money in the stock market
▼ + stars: | 2024-10-02 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The $69 billion hedge fund uses a strict trading strategy to make sure it consistently makes money. This trading strategy has helped founder Israel Englander become a billionaire. AdvertisementThe $69 billion Millennium Management hedge fund employs a simple yet effective trading strategy to make sure it almost always makes money in the stock market: cut losing stock positions as quickly as possible. This strict stop-loss trading strategy means the hedge fund goes through a lot of employees, sporting a high turnover rate of about 15%-20% of its staff each year. But the trading strategy is also what turned its founder, Israel Englander, into a billionaire.

Persons: Israel Englander, —, Englander Organizations: Management, Service, Millennium, Bloomberg, Wall Street Journal, Millennium Management

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