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☆ The owner of a 1,900-square-foot house next to the Masters golf course kept turning down millions of dollars to sell
▼ + stars: | 2023-06-14 | by ( Cork Gaines | ) www.businessinsider.com time to read: +6 min

"We really don't want to go," Elizabeth Thacker told NJ.com in 2016. Here is a view of the house from Google Street View, with Augusta National in the background. It's like the Martians have landed," Pirample told Golf Digest. One woman, who initially told Augusta National she wanted to stay in the house until she died but eventually sold, agreed about the lights and noise. "I could do without the lights and the generators and all the noise," Kittie Baker told Golf Digest.

Persons: —, Steve Politi, Thacker, Stanley Dr, Augusta, Herman, Elizabeth Thacker didn't, Elizabeth Thacker, NJ.com, Graig, Elizabeth, Peter Larson, Politi, William Hatcher, Hatcher, John Pirample, Pirample, Kittie Baker, Herman Thacker's, Jerry Thacker, Herman Thacker, Scott Brown, Sarah Stier, Emmett Knowlton Organizations: Augusta National, Service, Golf Club, Street, Google, Summer House Realty, Augusta, Golf, PGA, Masters Locations: Georgia, Herman

☆ 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

☆ The owners of a 1,900 square foot house next to the Masters golf course keep turning down millions of dollars to sell
▼ + stars: | 2023-06-11 | by ( Cork Gaines | ) www.businessinsider.com time to read: +6 min

Augusta National has spent $200 million buying up property around the course for two decades. According to The Wall Street Journal, Augusta National spent over $200 million purchasing over 100 properties covering 270 acres since 1999. Here is a view of the house from Google Street View, with Augusta National in the background. It's like the Martians have landed," Pirample told Golf Digest. "I could do without the lights and the generators and all the noise," Kittie Baker told Golf Digest.

Persons: —, Steve Politi, Thacker, Stanley Dr, Augusta National's, Herman, Elizabeth Thacker don't, Elizabeth Thacker, NJ.com, Elizabeth, Graig, Peter Larson, Politi, Herman Thatcher's, William Thatcher, Hatcher, John Pirample, William Thatcher's, Pirample, Kittie Baker, Thatcher, hasn't, we're, Scott Brown, Sarah Stier, Emmett Knowlton Organizations: Augusta National, Service, Augusta National Golf Club, Wall Street, Independent, Google, Summer House Realty, Augusta, Golf, Masters Locations: Georgia

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

☆ Steve Cohen's Point72 fund has likely scored a $100 million gain on Nvidia stock in 2 months as the AI craze persists
▼ + stars: | 2023-05-30 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +2 min

Steve Cohen's hedge fund has likely made a $100 million gain on Nvidia after investing last quarter. Cohen recently urged investors to shrug off their fears and ride the "big wave" of AI. Steve Cohen's hedge fund has likely scored a $100 million gain on Nvidia in just two months, thanks to the chipmaker's stock surging on the back of the artificial-intelligence boom. Point72's largest positions included a $523 million stake in Meta Platforms, and more than $400 million worth of stock in both Broadcom and Amazon. He described the burgeoning technology as a "big wave," and predicted it would create new jobs as well as eliminate existing ones.

☆ Here are big Wall Street investors' favorite A.I. bets, other than Nvidia
▼ + stars: | 2023-05-25 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

But it's not just Nvidia the smart money is betting on to power AI growth. Dan Loeb's Third Point also purchased Alphabet in the first quarter, making it the fund's fifth-biggest holding. Shares of Alphabet have rallied almost 40% this year as investors grew optimistic about the company's AI capabilities. AI software Druckenmiller revealed recently his Microsoft stake was also a bet on AI. Another AI software maker, Palantir, lately attracted buying from Ark Invest's Cathie Wood.

Persons: it's, Stanley Druckenmiller, Dan Loeb's, Bill Ackman's, Philippe Laffont’s Coatue, Stephen Mandel’s, Druckenmiller, David Tepper, Daniel Sundheim, Meta, Laffont’s Coatue, —, Samantha Subin Organizations: Nvidia, Wall Street's, Billionaire, Duquesne, Office, Google, Bill Ackman's Pershing, Capital Management, Taiwan Semiconductor, Tiger Global Management, Coatue Management, Devices, Stephen Mandel’s Lone Pine Capital, Microsoft, Meta Locations: Wall

☆ Hedge funds are loading up on Nvidia and these other tech stocks, Goldman data shows
▼ + stars: | 2023-05-25 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Hedge funds piled into Nvidia in the first quarter just in time for the chipmaker's eye-popping rally following a blowout forecast. The smart money hedge funds also loaded up on other tech stocks tied to artificial intelligence, according to Goldman Sachs. The Wall Street investment bank analyzed the holdings of 740 hedge funds with $2.2 trillion of gross equity positions at the start of 2023, based on regulatory filings. Goldman then identified technology, media and telecom (TMT) stocks with the largest net changes in hedge fund popularity during the first quarter. A total of 34 hedge funds added Nvidia to their portfolio in the first quarter, according to Goldman.

Persons: Goldman Sachs, Goldman, Jensen Huang, Stanley Druckenmiller, Druckenmiller, David Tepper's Organizations: Nvidia, Wall, Billionaire, Duquesne, National Instruments, KLA Corp, Silicon Laboratories, Dynatrace

☆ Hedge funds piled into these A.I. stocks during the first quarter
▼ + stars: | 2023-05-21 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Securities filings released this week signaled that many hedge funds also appear to be catching the AI bug. Betting on AI heavyweights Alphabet popped up as one of the most common AI plays among big investors in the first quarter. Microsoft bet billions on AI capabilities, funneling another multibillion-dollar investment in January into ChatGPT maker OpenAI. Beyond Alphabet and Microsoft Outside heavyweight giants Alphabet and Microsoft, many hedge funds beefed up other AI-related holdings in the first quarter. His Nvidia bet equaled roughly $1.4 billion at the end of March.

☆ Fund manager outperforming 96% of peers bets big on AI with Nvidia and Microsoft but avoids Apple, Alphabet and Meta
▼ + stars: | 2023-05-19 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

A Franklin Templeton fund is outperforming 96% of peers with big bets on artificial intelligence. But the fund is avoiding other tech giants like Apple, Alphabet, Meta and Netflix. According to Bloomberg, Franklin Templeton's $158 million FTGF Martin Currie Global Long-Term Unconstrained Fund has outperformed 96% of peers this year. "But you have to look at it through different segments rather than invest across Big Tech." In fact, the fund is avoiding traditional tech heavyweights such as Apple, Alphabet, Meta, and Netflix.

☆ Big-name investors are going all-in on AI
▼ + stars: | 2023-05-18 | by ( George Glover | ) www.businessinsider.com time to read: +1 min

Some of the best-known names in investing are betting big on artificial intelligence stocks. Bill Ackman recently revealed a $1 billion bet on Google parent Alphabet, while Stanley Druckenmiller pumped a combined $430 million into Microsoft and Nvidia. Tiger Global founder Chase Coleman, billionaire trader Paul Tudor Jones, and Ark Invest CIO Cathie Wood are all bullish on AI. Billionaire investors including Bill Ackman, Stanley Druckenmiller and David Tepper are betting big on firms at the forefront of the AI race - such as Microsoft, Alphabet and chipmaker Nvidia. Here's how seven top players are responding to the AI trend:

☆ The dollar will remain dominant because most countries 'don't want to own their own currency,' Chamath Palihapitiya says
▼ + stars: | 2023-05-17 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Most countries "don't want to own their own currencies," Chamath Palihapitiya said. For this reason, even if the dollar would weaken, it would still remain the dominant currency. Again, you have to remember a lot of these foreign governments — 187 or whatever the number is — countries outside the United States, rely on the US dollar," Palihapitiya said. At the same time, some countries have raised the idea of using local currencies over the dollar, such as Indonesia and India. Meanwhile, a weaker dollar could manifest sooner if the ongoing debt ceiling crisis failed to resolve before the US defaulted, which could happen as soon as June 1.

☆ Stanley Druckenmiller piles into these A.I. plays and other technology stocks
▼ + stars: | 2023-05-17 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Billionaire investor Stanley Druckenmiller bought into a few stocks tied to artificial intelligence last quarter, while piling into a handful of other names in the tech sector, according to a new regulatory filing. Druckenmiller said last week these two bets were his way of getting exposure to the booming AI space. He thinks that AI could be a fruitful opportunity for investors, especially when the economy comes out of what he thinks is an imminent downturn. The investor also built a sizable stake in Alphabet, another AI play, making it one of his top 10 holdings. Amazon was another new bet for Druckenmiller, who built an $84 million stake at the end of March.

☆ Hedge fund billionaire Steve Cohen tells investors to ride the 'big wave' of artificial intelligence and stop focusing on recession odds
▼ + stars: | 2023-05-17 | by ( Jason Ma | ) www.businessinsider.com time to read: +2 min

Hedge fund billionaire Steve Cohen told investors to ride the "big wave" of artificial intelligence. Focusing too much about a recession may cause investors to miss AI opportunities, he added. Cohen's upbeat comments on artificial intelligence come as other big investors revealed big bets on AI stocks. For example, Stanley Druckenmiller's family office loaded up on Nvidia shares and made a new Microsoft investment last quarter. Meanwhile, Bill Ackman's hedge fund revealed it bought Alphabet shares worth over $1 billion as the company ramps up its foray into artificial-intelligence technologies.

☆ How Wall Street pros traded 7 of our Club stocks, including Salesforce, in the first quarter
▼ + stars: | 2023-05-16 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +9 min

Lots of Club holdings, including Nvidia (NVDA) and Alphabet (GOOGL), were among the stocks traded by some of Wall Street's biggest investors and money managers in the first quarter. That firm, Jeffrey Ubben's Inclusive Capital, had owned 1.63 million Salesforce shares at the end of December, worth nearly $217 million at the time. Jeff Smith's Starboard Value also sold some Salesforce shares in Q1, leaving the firm with 2.5 million shares at the end of March. Mason Morfit's ValueAct Capital amplified its Salesforce stake in the first quarter, ending with 3.5 million shares, up from just 560,221 shares at the end of 2022. Loeb's Third Point amassed 4.75 million shares of Alphabet, worth $492.7 million at the end of the first quarter.

☆ This Strategy Beat the World’s Top Hedge Funds—Don’t Try It
▼ + stars: | 2023-05-09 | by ( Spencer Jakab | ) www.wsj.com time to read: +1 min

Our Heard on the Street columnists picked a portfolio by throwing darts at a newspaper’s stock pages to see how their stocks compare to professional fund managers. Photo: Josh LoockPlease don’t feed or throw objects at the fund managers. David Einhorn and Stanley Druckenmiller , both scheduled speakers at Tuesday’s Sohn Investment Conference, each have earned billions of dollars through investing. Heard on the Street’s columnists are paid peanuts by comparison, but that didn’t stop us from making monkeys out of the conference’s hedge-fund luminaries five years ago. Inspired by Prof. Burton Malkiel ’s book “A Random Walk Down Wall Street” in which he quipped that “a blindfolded monkey throwing darts at a newspaper’s financial pages could select a portfolio that would do just as well as one carefully selected by the experts,” our dart-picked stocks beat the Sohn Conference’s picks by a bruising 22 percentage points.

☆ Stanley Druckenmiller says A.I. could win big coming out of a recession, and he's bullish on Nvidia
▼ + stars: | 2023-05-09 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

"It could be a beautiful opportunity in a hard landing just like '01, '02 ... a beautiful opportunity when the tech bubble bursts. NVDA YTD mountain Nvidia "My firm has only been able to participate in AI by owning Nvidia and Microsoft," Druckenmiller said. "It's not even clear to me if we had a really bad recession, that Nvidia would even come down." And now we have a big hike in interest rates." The Federal Reserve has hiked interest rates for 10 times since last year, taking the fed funds rate to a target range of 5%-5.25%, the highest since August 2007.

☆ Stanley Druckenmiller: A.I. is very, very real and could be as impactful as the internet
▼ + stars: | 2023-05-09 | 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: A.I. is very, very real and could be as impactful as the internetCNBC's Leslie Picker joins 'Closing Bell' to report on legendary investor Stanley Druckenmiller's thoughts on A.I. and takeaways from The Sohn Conference.

☆ Billionaire investor Stanley Druckenmiller says the debt-ceiling crisis pales in comparison to the 'horror movie' of reckless spending
▼ + stars: | 2023-05-03 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

"The fiscal recklessness of the last decade has been like watching a horror movie unfold." That's according to billionaire investor Stanley Druckenmiller, who has been raising the alarm about US deficits for several years. "The fiscal recklessness of the last decade has been like watching a horror movie unfold," he said in a Monday speech at the University of Southern California, according to Bloomberg. To Druckenmiller, spending on Social Security, Medicare and Medicaid will have to be cut in the future, if not today. Druckenmiller also laid responsibility on the Federal Reserve, as its easy-money policies encouraged market and spending recklessness for over a decade.

☆ Analysts expect a big earnings drop this season. These 14 stocks are set to buck the trend
▼ + stars: | 2023-04-07 | by ( Kevin Stankiewicz | ) www.cnbc.com time to read: +5 min

First-quarter earnings per share for the S & P 500 are set to decline by 7% compared with the year-ago period, Goldman Sachs said in a note to clients Wednesday. That's why we spend less time worrying what the S & P 500 will earn and focus more on how individual companies are performing . Some S & P 500 sectors, like consumer discretionary and energy, are poised to grow profits compared with 2022, according to Goldman. Within the Club's portfolio, we found 14 companies that are set to report positive earnings growth this earnings season, according to FactSet estimates. As always, we'll analyze both our companies' earnings reports and consider their guidance to ensure our investment rationale is still intact.

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