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Plenty of bond investors have been burned calling a bottom in a selloff that has taken Treasuries to the cusp of an unprecedented third straight year of losses. One potential near-term pitfall is Friday’s U.S. payrolls data, which could revive expectations of Fed hawkishness if they come in stronger than expected. The rise in Treasury yields has reached far beyond the bond market. The S&P 500 is down nearly 8% from its July high, as rising bond yields offer investment competition to equities while threatening to raise the cost of capital for companies. “The market is running with the idea that the Fed is done hiking, which they may or may not be,” he said.

Persons: Jerome Powell nodded, Bonds, ”, Jack McIntyre, “, ” McIntyre, Stanley Druckenmiller, Duquesne, Bond, Josh Emanuel, Powell, We've, Greg Wilensky, Janus Henderson, ” Wilensky, Noah Wise, Davide Barbuscia, David Randall, Ira Iosebashvili Organizations: Treasury, Federal, Fed, U.S . Treasury, Brandywine, Janus, Janus Henderson Investors, Allspring Global Investments, Thomson Locations: U.S, Wilshire

☆ The biggest debate in tech
▼ + stars: | 2023-11-02 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +8 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, we're looking at the tech industry's debate over whether AI poses a real threat to humanity. The big storyBig Tech's big lieAP Photo/Julia Nikhinson; Arantza Pena Popo/InsiderWant to get someone in tech riled up? The private event, which had an exclusive guest list, has been criticized for favoring Big Tech executives over actual AI experts. "When big tech companies, big startups, and powerful VCs start calling for regulation of their hottest new technology, something is very wrong," Alistair Barr, Insider's global tech editor, told me.

Persons: —, Heidi Klum's, Klum, Julia Nikhinson, Arantza Pena Popo, Andrew Ng, Ng, Big, BlackRock's Larry Fink, Spencer Platt, Elon Musk, Alistair Barr, It's, Alistair, Insider's Beatrice Nolan, Sam Bankman, Aaron Schwartz, Stanley Druckenmiller, Druckenmiller, Tyler Le, SBF, Wendy Lee, Alba Santaliestra, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Fed, Tech, Google, Australian Financial, Big Tech, Getty Images Tech, Wired, Xinhua, Getty, Market, Apple, YouTubers, YouTube, Mexico City Locations: Israel, Muertos, Mexico, New York City, San Diego, London, New York

☆ Stanley Druckenmiller says government needs to stop spending like 'drunken sailors,' cut entitlements
▼ + stars: | 2023-11-01 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

"We are spending like drunken sailors," Druckenmiller said on CNBC's "Squawk Box" Wednesday. Now it's 25% of GDP ... My father told me if you're in a hole, stop digging Stan." Despite his calls to cut overall spending, the widely followed investor stressed that it's necessary for the U.S. to support Ukraine and disagrees with Republicans urging to stop funding in that region. "I was actually happy to see when the announcement the support for Ukraine and Israel $106 billion," Druckenmiller said. Druckenmiller once managed George Soros' Quantum Fund and shot to fame after helping make a $10 billion bet against the British pound in 1992.

Persons: Stanley Druckenmiller, Druckenmiller, Stan, Putin, George Soros Organizations: Social, Duquesne Family Office, Social Security, Quantum Fund, Duquesne Capital Management Locations: Duquesne, Israel, Ukraine

☆ DoubleLine’s Gundlach says interest rates are going to fall as recession arrives early 2024
▼ + stars: | 2023-11-01 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

DoubleLine Capital CEO Jeffrey Gundlach believes interest rates are about to trend lower as the economy deteriorates further and tips into a recession next year. "I do think rates are going to fall as we move into a recession in the first part of next year," Gundlach said Wednesday on CNBC's "Closing Bell." The Federal Reserve's rate-setting committee unanimously agreed Wednesday to hold the key federal funds rate in a target range between 5.25% to 5.5%, where it has been since July. "One thing that the market is going to have to confront is we cannot sustain these interest rates and this deficit any longer," Gundlach said. "We can't afford this government that we're running at today's interest rate level.

Persons: Jeffrey Gundlach, Gundlach, Stanley Druckenmiller, Jerome Powell, hasn't Organizations: DoubleLine, Billionaire, Social Security, CNBC PRO Locations: New York, U.S

☆ Stanley Druckenmiller says stock investing is going to be really tough the next 10 years
▼ + stars: | 2023-11-01 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

Druckenmiller said that prior to quantitative easing, which began as part of the government's response to the 2008 financial crisis, stock valuations were typically at about 15-times earnings. The recent spike in Treasury yields have put market interest rates near their highest levels since 2007. A lot do — a stock picker's market," Druckenmiller said. "A lot of people made money in the stock market in the '70s. Not, frankly, unlike what has happened in the stock market in the last year."

Persons: Stanley Druckenmiller, Druckenmiller, I've, we're, Alex Karp, It's, George Soros Organizations: Duquesne Family, Quantum, Duquesne Capital Management Locations: U.S

☆ Stanley Druckenmiller: The government needs to stop spending like ‘drunken sailors'
▼ + stars: | 2023-11-01 | 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 EmailStanley Druckenmiller: The government needs to stop spending like ‘drunken sailors'Stanley Druckenmiller, Duquesne Family Office chairman and CEO, joins 'Squawk Box' to discuss the state of the U.S. economy, Treasury Secretary Janet Yellen's 'big blunder' of not issuing more long-dated Treasurys when interest rates were low, government spending and the impact on the national debt, market outlook, the Fed's inflation fight, and more.

Persons: Stanley Druckenmiller, Janet Yellen's Organizations: Duquesne Family Locations: U.S

☆ Watch CNBC's full interview with Duquesne Family Office CEO Stanley Druckenmiller
▼ + stars: | 2023-11-01 | 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 Duquesne Family Office CEO Stanley DruckenmillerStanley Druckenmiller, Duquesne Family Office chairman and CEO, joins 'Squawk Box' to discuss the state of the U.S. economy, Treasury Secretary Janet Yellen's 'big blunder' of not issuing more long-dated Treasurys when interest rates were low, government spending and the impact on the national debt, market outlook, the Fed's inflation fight, and more.

Persons: Stanley Druckenmiller Stanley Druckenmiller, Janet Yellen's Organizations: Duquesne Family Locations: U.S

☆ Before the Fed decision, all eyes will be on this big Treasury debt announcement Wednesday
▼ + stars: | 2023-10-31 | by ( Jeff Cox | ) www.cnbc.com time to read: +5 min

Olivier Douliery | Afp | Getty ImagesAuctions of government debt, normally routine events for the Treasury Department, have suddenly become very important to financial markets. That's why an announcement Wednesday on refunding, entailing the size of auctions as well as the duration mix of the debt that will be issued, is expected to draw even more market interest. Indeed, the two entities are both pivotal in determining how the U.S. is going to manage its mammoth debt load. That symbiotic relationship will be on full display this week when the Treasury Department makes its refunding announcement Wednesday at 8:30 a.m. ET, and the Fed follows with its decision on interest rates that same day at 2 p.m.

Persons: Janet Yellen, Olivier Douliery, Josh Emanuel, Emanuel, Morgan Stanley, Stanley Druckenmiller, Druckenmiller, Alexander Hamilton, Paul Tudor Jones, she's, Dhingra, Thomas Simons Organizations: Treasury, Foreign Investment, United States, Treasury Department, Afp, Getty, Federal Reserve, Duquesne Capital, Robin Hood Foundation, Jefferies Locations: Washington ,, refunding, Wilshire, U.S

☆ Billionaire politicians have become 'shockingly common' around the world, new study finds
▼ + stars: | 2023-10-26 | by ( Robert Frank | ) www.cnbc.com time to read: +2 min

More than 11% of the world's more than 2,000 billionaires have run for election or become politicians, according to a study highlighting the growing power and influence of the super-wealthy. "Billionaire politicians are a shockingly common phenomenon," the study said. Outside the U.S., billionaire politicians are even more common. Terry Gou, the Taiwanese billionaire and founder of Foxconn, is running for president of Taiwan. Of course, billionaires wield even more political power through their (often secret) donations to support candidates, parties and super PACs.

Persons: Donald Trump, Terry Gou, Vivek Ramaswamy, Doug Burgum, Michael Bloomberg, Tom Steyer, Billionaire Rick Caruso, J.B, Pritzker, Andrej Babiš, Silvio Berlusconi, Bidzina Ivanishvili, Najib Mikati, Sebastián, Thaksin, Phil Ruffin, Larry Ellison, Nelson Peltz, Richard Uihlein, Jeffrey Yass, Stanley Druckenmiller, Cliff Asness, David Tepper, Bruce Kovner Organizations: Wisconsin Valley Science, Technology, Northwestern University, Democratic, Los Angeles, Tax Fairness, Billionaire Locations: Wisconsin, Mount Pleasant , Wisconsin, U.S, Illinois, Taiwan, Czech Republic, Italy, Georgia, Lebanon, Chile, Thailand

☆ Rainmakers find political hedge in Chris Christie
▼ + stars: | 2023-10-16 | by ( Ben Winck | ) www.reuters.com time to read: +4 min

[1/2] Republican presidential candidate and former New Jersey Governor Chris Christie speaks at the New Hampshire Republican Party’s First in the Nation Leadership Summit in Nashua, New Hampshire, U.S., October 13, 2023. Several hedge fund rainmakers poured cash into Chris Christie’s campaign over the summer, according to filings released on Monday. But with legal woes hanging over Trump’s campaign, contributions to the most anti-Trump conservative could become a valuable call option for the group that knows something about hedging. It’s notable that Christie has been vocal about attacking Trump, whom he advised during the prior president’s first term. Former New Jersey Governor Chris Christie raised $3.8 million over the quarter, aided by donations from wealthy investors including Stanley Druckenmiller, David Tepper and Paul Tudor Jones.

Persons: Chris Christie, Brian Snyder, Donald Trump, hasn’t, Wall, Chris Christie’s, Christie, Nikki Haley, Ron DeSantis, Vivek Ramaswamy, Tim Scott, That’s, Stanley Druckenmiller, David Tepper, Tudor Investment’s Paul Tudor Jones maxed, Seth Klarman, Bruce Kovner, Trump, ” Christie, Ramaswamy, Tyler Winklevoss, Paul Tudor Jones, Lauren Silva Laughlin, Sharon Lam Organizations: Republican, New, New Hampshire Republican Party’s, Nation Leadership Summit, REUTERS, Rights, Reuters, Republican Party, Trump, Duquesne Capital, Management, CAM, Fairleigh Dickinson University, Reuters Graphics Reuters, Federal, Former New Jersey, Thomson Locations: New Jersey, Nashua , New Hampshire, U.S

☆ Trader who founded XTX sees fortune soar to $11 billion as quant firm becomes a top global player
▼ + stars: | 2023-08-21 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Alex Gerko's wealth is now estimated at $10.8 billion as his firm XTX has become a top global player. He is now number 182 on the Bloomberg Billionaires Index, which just calculated that his fortune doubled. The index added $5 billion to his wealth compared to the prior trading day. While revenue still trails Citadel Securities' $7.5 billion in 2022, XTX is emerging as one of the top players in global markets. The firm handles a trading volume of around $300 billion a day, involved in equities, commodities, currencies, and fixed-income.

Persons: Alex Gerko's, XTX, Alex Gerko, Stanley Druckenmiller's, Gerko — Organizations: Bloomberg, Service, Deutsche Bank, XTX, Citadel Securities, Financial Times Locations: Wall, Silicon, Russian

☆ Activists ease up on Salesforce — plus, 10 other Club stocks traded by Wall Street pros
▼ + stars: | 2023-08-16 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +10 min

The extraordinary activist-investor interest in Salesforce (CRM) eased further in the second quarter, according to the latest regulatory filings from influential Wall Street pros. His firm still owned about 2 million Salesforce shares as of June 30. Tepper also bought 2.3 million shares of Advanced Micro Devices (AMD) and 480,000 shares of Apple (AAPL) during the second quarter. As a result, Appaloosa's holdings as of mid-August may differ significantly from the conclusion of the second quarter. GOOGL YTD mountain Alphabet YTD performance Bets on Google's parent company, Alphabet (GOOGL), varied in the second quarter.

Persons: Dan Loeb's, Jeff Smith's, Salesforce, Jeffrey, Starboard's Jeff Smith, Smith, he's, 13Fs, it's, Marc Benioff, Mason Morfit, Paul Singer's Elliott, Elliott, Elliott —, Nelson Peltz's, Bob Iger, Peltz, David Tepper, Tepper, Bill Ackman's, Seth Klarman, Loeb, Klarman, Stanley Druckenmiller, Druckenmiller, Eli Lilly, That's, Jim Cramer's, Jim Cramer, Jim, Kim Kulish Organizations: Inclusive Capital, CNBC, Paul Singer's Elliott Management, Constellation, Club, Constellation Brands, Corona, Modelo, DIS, Disney, Management, Walt Disney Co, Peltz, Nvidia, Appaloosa Management, Microsoft, Micro Devices, Apple, AMD, Bill Ackman's Pershing, Capital Management, Oracle, Duquesne Family Office, Jim Cramer's Charitable, Corbis, Getty Locations: Salesforce, Tuesday's

☆ These 'uber crowded' trades from hedge funds are up nearly 30% this year, according to Jefferies
▼ + stars: | 2023-08-01 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Hedge funds and other professional investors' favorite bets are crushing the market, posting a near 30% rally this year, according to Jefferies. The Wall Street firm looked at recent regulatory filings from hedge funds and long-only fund managers and found the most-popular holdings among both groups, calling them "uber crowded" trades. A number of stocks tied to artificial intelligence showed up in the "uber crowded" portfolio. Alphabet is also well-loved by hedge funds and long-only mutual funds. Software company Adobe and health care name Elevance Health are also on the list of crowded trades.

Persons: Jefferies, Bill Ackman, Stanley Druckenmiller, Dan Loeb Organizations: Microsoft, OpenAI, Nvidia, YouTube, Adobe

☆ Peltz, Druckenmiller, Navarro give big to Tim Scott PACs as DeSantis falters
▼ + stars: | 2023-07-31 | by ( Brian Schwartz | ) www.cnbc.com time to read: +2 min

A super PAC backing Republican presidential candidate Sen. Tim Scott, R-S.C. on Monday disclosed major donations from some of the nation's wealthiest business leaders. Between April and June this year, he gave $80,000 to the PAC backing Scott, who only officially entered the race in May. He also gave $15 million to Club for Growth Action, a separate super PAC that is taking on Trump's latest run for president. Rowan donated $250,000 to a different pro-Scott super PAC, Trust In The Mission (TIM) PAC, last quarter. Ben Navarro, a South Carolina businessman and CEO of Sherman Financial Group, donated $5 million to the same committee.

Persons: Sen, Tim Scott, Scott, Nelson Peltz, Jeffrey Yass, Stanley Druckenmiller, Peltz, Trump, Ron DeSantis, GOP megadonor, Druckenmiller, Marc Rowan, Rowan, Ben Navarro Organizations: PAC, Wall Street, Scott Opportunity, Federal, Commission, Trump, Trian Fund Management, Capitol, Florida Gov, GOP, Susquehanna International Group, Scott, for Growth, Opportunity Matters, Hamptons, Apollo Global Management, Trust, Sherman Financial Group Locations: Florida, Yass, South Carolina

☆ Tim Scott sees big money donor interest while Ron DeSantis hunts for cash
▼ + stars: | 2023-07-28 | by ( Brian Schwartz | ) www.cnbc.com time to read: +9 min

Nicholas Pfosi | ReutersSen. Tim Scott, R-S.C., is seeing a wave of wealthy donor interest as he runs for president, while Florida Gov. Herring has already donated $6,600 to Scott's 2024 run for president, according to Federal Election Commission filings. Nikki Haley will be in the Hamptons on Sunday for a fundraising event, according to an invitation reviewed by CNBC. Sobel, who is a managing partner at Valor Capital Group, donated $6,600 to DeSantis' campaign in late June, according to Federal Election Commission records. Andrew Romeo, a spokesman for the DeSantis campaign, pointed CNBC to their fundraising efforts in the second quarter.

Persons: Tim Scott, Saint Anselm College's, Nicholas Pfosi, Reuters Sen, Ron DeSantis, Scott, Goldman Sachs, Gary Cohn, Andy Sabin, Stanley Druckenmiller, Sabin, James Herring, Herring, Marc Rowan, Tim Scott Victory, Robert Giuffra, Cromwell, Nikki Haley, Donald Trump, DeSantis, meanwhile, Cohn, Druckenmiller, Goldman, Scott East, Still, he's, John Catsimatidis, Brandon Bell, Clifford Sobel's, Michael Pascucci, Sobel, Pascucci, Giuffra, Ronald Lauder, Paul Singer, Lauder, Singer, Andrew Romeo, –, Romeo, Glenn Youngkin, Trump Secretary of Commerce Wilbur Ross, Lisa Wagner, Wagner, she's Organizations: U.S, New Hampshire Federation of Republican Women, Saint Anselm, Saint Anselm College's New Hampshire Institute of Politics, Reuters, Florida Gov, CNBC, Hamptons, Republican, Trump National Economic Council, Trump, Billionaire, Apollo Global Management, Tim Scott Victory Fund, PAC, Southampton, Sullivan, Former South Carolina Gov, GOP, Washington Examiner, Florida Governor, Getty, Valor Capital, Commission, Business Jet, Gulfstream, Embraer, Bucknell University, Records, Politico, Virginia Gov, Hotel, Trump Secretary of Commerce, NBC News, DeSantis Locations: Saint, Manchester , New Hampshire, Florida, Long, East Hampton, North Carolina, Scott East Hampton, DeSantis, Ukraine, Scott, Rio Grande, Eagle Pass , Texas, Southampton, Charleston, Virginia, Aspen , Colorado, Colorado

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

☆ Family offices are backing AI, even as rich Americans are skeptical of the hype
▼ + stars: | 2023-06-29 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +5 min

Billionaires like Google's Eric Schmidt are betting big on AI through their family offices. Insider talked to family office insiders to learn how to find real deals amid the hype cycle. So many startups are claiming to use AI that family offices are wary of "AI washing" when considering direct venture deals, according to Karl Rogers, chief investment officer at Irish family office Elkstone. But they are still circumspect, he said, as family offices typically prioritize long-term wealth preservation over aggressive growth. "Hype cycles tend to imply immediate returns, which is contrary to how family offices usually think," said Hsu, whose fund counts the Pritzker family as investors.

Persons: Eric Schmidt, Stanley Druckenmiller, ChatGPT, Karl Rogers, Rogers, Paul Hsu, Hsu, Pritzker, They've, Jon Dutton, Dutton, Anthony Manna, he's, I've Organizations: Nvidia, Google, Mistral, Fidelity, M7 Holdings, Bloomfield Robotics

☆ China’s economy is way more screwed than anyone thought
▼ + stars: | 2023-06-14 | by ( Linette Lopez | ) www.businessinsider.com time to read: +12 min

The bubble in China's property market finally popped. In April, China's economic data came in weak largely across the board. The problem is that while consumers may be picking up, the biggest drivers of the Chinese economy — property and exports — are going to stay dormant. Consumer consumption makes up about 37% of the Chinese economy (in the US that figure is about 70%). Beijing has tried to shift the country toward a consumption model, like the US, but exports still make up 20% of China's economy.

Persons: lockdowns, it's, Xi Jinping, Stanley Druckenmiller, We're, Morgan Stanley, Goldman Sachs, Wei Yao, Leland Miller, Miller, Yao, Wright, I've, —, Kearney, Linette Lopez Organizations: Trade, JPMorgan, Bloomberg Invest Conference, Bank of America's, China's National Bureau, Statistics, Societe Generale, Analysts, Beijing, China, Chinese Communist Party, China's Locations: China, globalism, Beijing, York, Asia

NEW YORK, June 7 (Reuters) - U.S. investor Stanley Druckenmiller, chairman and Chief Executive Officer at Duquesne Family Office, said on Wednesday that he still expects a hard landing for the U.S. economy, as inflation persists, but offered a positive outlook for Nvidia. Still, the investor is bullish on artificial intelligence, mainly on chipmaker Nvidia Corp (NVDA.O). "Unlike crypto I think AI is real," he said. "If it's as big as I think it is, Nvidia is something we're going to want to own for at least two or three years. Reporting by Carolina Mandl and Davide Barbuscia in New YorkOur Standards: The Thomson Reuters Trust Principles.

Persons: Stanley Druckenmiller, Carolina Mandl, Davide Barbuscia Organizations: YORK, Duquesne Family Office, Nvidia, Bloomberg, Nvidia Corp, Thomson Locations: U.S, New York

☆ Stanley Druckenmiller says Nvidia stock is worth holding for the next few years amid AI bullishness
▼ + stars: | 2023-06-07 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Nvidia is worth holding for two to three years, Stanley Druckenmiller said in a Bloomberg conference. His bullishness comes as other investors have called Nvidia overvalued. His bullishness comes as other investors have called Nvidia overvalued after it briefly soared to a market cap of $1 trillion last month. During the Bloomberg interview, Druckenmiller also noted that even if a hard landing for the economy affects some AI development, he expects Nvidia to thrive in the long run. In the first quarter, his family office snapped up $220 million worth of the chipmaker's stock.

Persons: Stanley Druckenmiller, Druckenmiller, —, he'd, Bard, they're, Cathie Wood, Asmath Damodaran, Goldman Sachs Organizations: Nvidia, Bloomberg, Microsoft, Service, Privacy, Bloomberg Invest, Duquesne Family, Bank of America, ARK

☆ The Harvard economics PhD whiz who is teaching generative AI to invest for everyone
▼ + stars: | 2023-06-06 | by ( Kiley Lambert | ) www.cnbc.com time to read: +3 min

Szilagyi has the record for the fastest-ever Harvard Economics Ph.D. (2.5 years), studying under Ken Rogoff. In addition to his economics Ph.D., Szilagyi holds BA and MA degrees in mathematics and economics from Yale. Szilagyi: Toggle is a generative AI startup that sits squarely at the intersection of finance and artificial intelligence. Toggle AI was really born from observing the ever-mounting flow of financial data that we needed to track. Thanks to his support, Toggle AI took off with a mission to provide every investor and advisor with powerful AI tools in an easy-to-navigate, chat interface.

Persons: Jan Szilagyi, Szilagyi, Stanley Druckenmiller, Lombard Odier, Ken Rogoff, Giuseppe Sette, Druckenmiller Organizations: Duquesne Capital, Lombard, Harvard, Yale, CNBC, Summit, Microsoft, Duquesne Locations: Szilagyi, Lombard

☆ The AI craze drove investors to pour a record $8.5 billion into tech funds last week, Bank of America says
▼ + stars: | 2023-06-02 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Investors poured a record $8.5 billion of cash into tech funds last week, Bank of America found. The AI "baby bubble" has become the dominant theme for markets, strategist Michael Hartnett said. Tech funds brought in a record $8.5 billion in the week ending May 31, the bank found. Contrarian-minded investors should sell AI stocks and buy shares in Hong Kong-listed companies, which could benefit from China's efforts to revive its faltering economy, Hartnett said. Read more: Tech stocks are outperforming their rivals by the most since the dot-com bubble

Persons: Michael Hartnett, —, Bill Ackman, Stanley, Hartnett, Read Organizations: Bank of America, Nasdaq, Service, Tech, Nvidia, Meta, Federal Reserve Locations: ChatGPT, There's, Hong Kong

☆ 'Uber crowded' trades from professional investors are crushing the market, Jefferies says
▼ + stars: | 2023-06-01 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Professional investors' high-conviction bets have paid off this year, significantly beating the S & P 500 , according to Jefferies. These stocks have led the market this year amid Wall Street's obsession with what investors consider safe earnings, and all things tied to artificial intelligence. Microsoft is another red-hot AI bet as the company recently expanded a multiyear, multibillion-dollar investment in ChatGPT maker OpenAI, marking the third phase of their partnership. Microsoft shares are up about 39% in 2023. The company recently increased its projections for income and net new recurring revenue from its Digital Media business for the full year.

Persons: Jefferies, Bill Ackman, Stanley Druckenmiller, Dan Loeb Organizations: Big Tech, Microsoft, Meta, Google, Nvidia, Software, Adobe, Digital Media, Horizon Therapeutics

☆ These are the top stocks to play the A.I. theme, Goldman Sachs tells clients
▼ + stars: | 2023-05-31 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Given the growth potential, Goldman looked to recent earnings call transcripts to identify the companies that are actively discussing the potential opportunities, and risks, from AI. Goldman found a basket of 24 companies that are pursuing AI or can help enable new technologies across software, semiconductors, tech hardware, media, internet and information technology services. Alphabet has been a popular AI play among high-profile investors such as Bill Ackman and Stanley Druckenmiller. Meanwhile, Meta Platforms has touted AI computer chips, which will eventually power more advanced metaverse-related tasks, including virtual reality and augmented reality, as well as generative AI. Goldman also highlighted software names that are either pursuing AI or would act as enablers of AI, including Datadog , CrowdStrike , Snowflake and Salesforce.

Persons: Goldman Sachs, Goldman, Bill Ackman, Stanley Druckenmiller, — CNBC's Michael Bloom Organizations: Goldman, Big Tech, Microsoft, Meta, Apple, Google, Nvidia, AMD, Micron Technology, Marvell Technology, Palo Alto Networks Locations: CrowdStrike, Snowflake

☆ Family offices are lifting their exposure to bonds and emerging-market equities, UBS survey says
▼ + stars: | 2023-05-31 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Family offices are making major shifts in their portfolios, increasing their exposure to bonds and emerging-market equities, according to a UBS survey. The wealthy cohort plans to raise developed market fixed income investments in 2023, with more than one-third of family offices aiming at high-quality, short-duration bonds, according to the survey, which earlier this year polled 230 global family offices. "The shift that's going on is very telling," Charles Otton, head of UBS' global family and institutional wealth business, told CNBC. "Developed market fixed income and government bonds are strongly attractive to family offices as they look to 2023 in a very different rate environment." Duquesne Family Office's Stanley Druckenmiller, for one, has been calling for a recession for a while .

Persons: Charles Otton, Otton, Office's Stanley Druckenmiller Organizations: UBS, CNBC, Federal, Duquesne

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