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☆ The portfolio manager whisperers
▼ + stars: | 2024-05-03 | by ( Alex Morrell | ) www.businessinsider.com time to read: +24 min

AdvertisementHistorically, a hedge fund's chief investment office or senior portfolio manager was responsible for vetting and wooing key investment hires. They can also help hedge funds save on outside recruiting costs, which can add up to tens of millions a year. Hedge funds targeted institutional salespeople at investment banks with exposure to hedge funds, as well as asset allocators with chops in portfolio-manager selection and due diligence. Assets at multimanager hedge funds have boomed since 2018. The principle may work for fictional baseball diamonds, but the reality at hedge funds is more complicated.

Persons: Taylor Swift, Travis Kelce, Goldman Sachs, —, That's, headhunter who's, liken, Nick Saban's, Midlevel, headhunter, Ken Griffin, Michael Kovac, execs, Jennifer Blake, BD Thomas DeAngelis, Walleye Capital Paritosh Singh, Americas Michael Grad, BlueCrest Lindsay Previdi, Point72, Freestone Grove Matthew Giannini, Ken Griffin's, ExodusPoint, Brevan Howard, breakneck buildout, Michael Gelband —, Jonathan Hoffman, Alexander Phillips, ExodusPoint's, Millennium's Izzy Englander, noncompetes, Millennium Management Amanda Gordon, multimanagers, who've, Goldman, Schonfeld, Brevan Howard —, Neil Chriss, Harry Schwefel, Jonathan Brenner, Walleye's, Thomas DeAngelis, DeAngelis, Brenner, DeAngelis hasn't, Kansas City Chiefs Travis Kelce, Erick W, Rasco, Donald Trump's, America couldn't, Citadel execs Todd Barker, Daniel Morillo —, Jeff Runnfeldt, Bobby Jain, allocator Organizations: NFL, Business, Citadel, BD, University of Alabama, execs, Balyasny, Walleye Capital, Millennium, Americas, Freestone Grove, — Citadel, Walleye, BI, Costco, Millennium Management, Bloomberg, Getty, Investor, Barclays, Barclays Capital Solutions, Brookfield, Paloma Partners, Kansas City Chiefs, San Francisco 49ers, Allegiant, Getty Images, Black, Investors, ex, Fortress Locations: America, multimanagers, —, Hudson Bay, Schonfeld, Israel, multimanager, Europe, Middle East, Africa, Vegas, Balyasny

☆ Amgen soars 16% after it talks up a new weight loss drug that could be injected monthly instead of weekly
▼ + stars: | 2024-05-03 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

The company talked up its experimental GLP-1 weight-loss drug, MariTide. The new weight loss drug could be injected monthly instead of weekly. AdvertisementThe competition is fierce in the GLP-1 weight loss market, with Novo Nordisk's Ozempic and Wegovy and Eli Lilly's Mounjary and Zepbound dominating sales. AdvertisementWhile a monthly weight-loss injected drug may sound appealing to patients, it is likely still far from hitting the market, assuming it passes all of its clinical trials. And even more convenient than a monthly injection of GLP-1 would be a weight loss pill, though Amgen said it ditched development of its oral weight loss drug candidate to instead focus on the development of MariTide.

Persons: —, Amgen, Robert Bradway, Eli Lilly's Mounjary, Bradway, MariTide, James Bradner, Goldman Sachs, it's, hasn't Organizations: Service, Nordisk's Ozempic, Wall Street Locations: America

☆ My $500,000 Home Renovation Turned Into a Real-Estate Nightmare
▼ + stars: | 2024-05-01 | by ( Christine Chitnis | ) www.businessinsider.com time to read: +13 min

What was supposed to be a yearlong $140,000 renovation ballooned into three excruciating years that cost us more than $500,000 — and the work is still not finished. But as my husband and I soon discovered, unless you've made a plan, legal protections for homeowners are close to nonexistent. Every time our contractor turned up the temperature, we grimly adjusted to the reality of our demise. Knowing the cardinal rule of home renovation — never pay in full until the job is over and inspected — we grew suspicious. Despite completing several home-improvement and renovation projects with her husband over the years, she lacked the confidence to DIY the renovation of her newly purchased 6,500-square-foot home.

Persons: Arcadis, you've, Christine Chitnis, wasn't, It's, We've, Amanda Jane Jones, Jones, David Jensen, Greenberg Traurig, He'd, Jensen, Lisa DiAntonio, DiAntonio, hadn't, what's, Condé Organizations: Homeowners, Harvard's, for Housing Studies, Department of Business, American Institute of Architects, Vogue, The New York Times Locations: Rhode Island, North America, Northern Michigan, Michigan, Utah, New Jersey, Andover , Massachusetts

☆ Bank of America lays out the exact scenario that could finally pop the stock market's AI bubble
▼ + stars: | 2024-04-26 | by ( Joe Ciolli | Filip De Mott | ) www.businessinsider.com time to read: +3 min

Bank of America says the ongoing "anything but bonds" bull market has led to a very top-heavy stock market. The firm is watching real 10-year yields and credit spreads for signals of when that AI-led rally could end. BofA says higher yields and tighter spreads could sound recession alarms and spur a stock sell-off. The key piece is the cohort of mega-cap tech companies that have long dominated stock-market performance, largely because of their affiliation with AI. In the meantime, if you subscribe to BofA's view, you should be watching the 10-year real yield for a signal of when any such downturn is coming.

Persons: BofA, —, YCharts There's Organizations: of America, Service, Bank of America, Apple, Nvidia, Microsoft

☆ Japanese yen is a 'huge buying opportunity' at these levels, says investment advisory firm
▼ + stars: | 2024-04-26 | 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 EmailJapanese yen is a 'huge buying opportunity' at these levels, says investment advisory firmGambles, co-founder and managing partner at MBMG Family Office Group, says "we thought it was attractive at 145, we think it's even more attractive at 155."

Organizations: Family

☆ Meet 7 recruiters who can help you land a tech job at Wall Street firms like JPMorgan and Blackstone
▼ + stars: | 2024-04-25 | by ( Bianca Chan | ) www.businessinsider.com time to read: +2 min

Landing a tech job on Wall Street has never been simple, but it's even less so today. But widespread layoffs in the tech sector have created a "glut of supply" of "mediocre talent," recruiters told Business Insider. That's not stopping Wall Street firms from tapping external recruiters to find technologists. Given the private nature of their work, recruiters usually keep their client list and searches close to the vest. For that reason, the specific clients most of these recruiters work with are not named.

Persons: we've, Ben Hodzic, Selby Jennings, Wall

☆ Stripe co-founder says high interest rates flushed out Silicon Valley's 'wackiest' ideas
▼ + stars: | 2024-04-25 | by ( Kate Rooney | ) www.cnbc.com time to read: +2 min

Rising interest rates crushed technology valuations and had a chilling effect on Silicon Valley. Stripe had to take a major haircut along with the rest of the industry as soaring inflation and rising interest rates, starting in 2022, pushed investors out of the riskiest assets, lifted borrowing costs and and forced startups to tighten their belts. "Valuations are a product of interest rates," Collison said. While many tech companies took a hit in 2022 and 2023, Collison said the rising interest rate environment succeeded in flushing out the "wackiest" startup ideas, leaving the best ones to get funded. He pointed to an "overfunding" of marginally good ideas, and "zombie companies" taking too long to go bust.

Persons: John Collison, Collison, Patrick, Elon, We're, Jerome Powell Organizations: CNBC, SpaceX, Wall Street Journal, Federal Locations: Silicon Valley

☆ My teenager has ADHD. Sometimes it's hard to differentiate between teen behavior and his condition.
▼ + stars: | 2024-04-19 | by ( Mike Julianelle | ) www.businessinsider.com time to read: +4 min

It's hard for me to separate what is him being a regular teenager and what is his condition. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . In the years since his diagnosis, his ADHD has manifested in many ways: hyperactivity, impulsivity, inattention, loss of focus, etc. Not because his teen angst is especially extreme or his ADHD symptoms have intensified, but because it is hard for me to separate the two. I'm trying to be a better dad for himNewsflash: teenagers aren't the most open-minded recipients of serious discussions about behavior (or about anything), and having substantial conversations with ADHD teens requires even more patience and understanding.

Persons: —, he's, — I'm, it's, It's Organizations: Service

☆ Why the phenomenon of your rich friend being the stingiest rings true, expert says
▼ + stars: | 2024-04-13 | by ( Aditi Shrikant | ) www.cnbc.com time to read: +1 min

Scrolling through my Venmo transactions, it's evident that requests for comically small amounts of money are almost always made by friends who were either born with or earn more money than me. "Rich people love to Venmo request you $4.72 for like half a bagel because they have no concept of money and don't understand that working class people operate under an economy of buying someone a beer," one X user mused. "Friend making $450k as a software engineer: 'Can you Venmo me $3.62 for your share of the Uber ride?'" Susan Bradley, founder of the Sudden Money Institute, coaches clients who have quickly or unexpectedly come into large windfalls of cash on how to transition out of being a have-not. The phenomenon of the rich friend being the stingiest rings true, she says: "People with more money than their peers struggle with generosity."

Persons: Rich, Susan Bradley

☆ 4 signs of health misinformation online—if it 'seems a bit ridiculous' that's a red flag, expert says
▼ + stars: | 2024-04-11 | by ( Renée Onque | ) www.cnbc.com time to read: +4 min

"And so often when we see people fall for false information, they just haven't taken even a second to do some of these basic checks." Question the credibility of new health information that uses "words like cure, 100% effective [and] guaranteed. Often, posts about health information that trigger emotional responses are designed "to get us to fall for lies," she says. If it "seems a little bit ridiculous, or [like] science fiction really," that's a red flag, he says. Tips for verifying health information online

Persons: they've, KFF, Seema Yasmin, Yasmin, Deen Freelon, You'd, Freelon, you've, funneling Organizations: KFF, Stanford Health Communication, Stanford University, Annenberg School, Communication, University of Pennsylvania Locations: Covid

☆ Miki Agrawal has moved on from Thinx. She hopes you have, too.
▼ + stars: | 2024-04-10 | by ( Claire Landsbaum | ) www.businessinsider.com time to read: +23 min

Agrawal, a 45-year-old serial entrepreneur who founded the period-underwear company Thinx and the bidet startup Tushy, has always poured herself into her businesses. That July, Agrawal gave birth to her son, Hiro Happy Horn Agrawal. AdvertisementAfter leaving Thinx, Agrawal, pictured here in her Texas home, poured her energy into her bidet startup Tushy. Before Thinx, before Tushy, Agrawal was an analyst at Deutsche Bank, working in an office near the World Trade Center. In 2011, she cofounded period-underwear company Thinx with her twin sister, Radha, and a friend, Antonia Saint Dunbar.

Persons: Miki Agrawal, Agrawal, she's, We're, missteps she'd, Miki Agrawal Agrawal, Andrew Horn, Agrawal's, Horn, Instagram, she'd, Hiro Happy Horn Agrawal, Forbes, Tushy, they'd, Thinx, Ilana Panich, —, hadn't, they're, Richard Wolf, Radha, Antonia Saint Dunbar, Nicholas Hunt, undressed, wasn't, Shama Amalean Skinner, Amalean Skinner, Maria Molland Selby, welling, Miki, who's, Justin Allen, She'd, Hiro, Jason Ojalvo, Ojalvo, Horn —, Melissa Pruett, Pruett, Jessica Fern's, I've, exes, it's, wifedom, hummus —, Happie Hoffman, Austin, Tesla, Elon Musk, Musk's, Kimbal, Argawal Organizations: New York, Commission, Human Rights, Washington Post, CNBC, Business, Deutsche Bank, World Trade, New York Magic, Food Network, New York Magazine, Antonia Saint Dunbar ., Nike, Outfront Media, New, MTA, New York Times, Glamour, Amazon Locations: New, playa, Texas, Tribeca, West, Williamsburg, Park, America, Canada, Orlando, Thinx, Costa Rica, Horn, Oregon, Austin

☆ 11 U.S. cities where you need to earn over $200,000 to buy a typical home
▼ + stars: | 2024-04-09 | by ( Mike Winters | ) www.cnbc.com time to read: +2 min

You'll need to earn just over six figures to buy a typical home in the U.S. right now. San Jose is by far the most priciest place to buy a home, even among 10 other metro areas where qualifying income exceeds $200,000. Some of the wealthiest people in the U.S. live in cities like San Jose, San Francisco and Anaheim. In contrast to California's most expensive markets, the qualifying income needed to buy a typical home in the U.S. overall is $103,835. It's even cheaper in the Midwest and the South, where the qualifying income is $74,967 and $95,511, respectively.

Persons: NAR's Organizations: National Association of Realtors, Thousand Oaks, San, Housing Finance Agency, CNBC Locations: U.S, California, San Jose, Jose, Sunnyvale, Santa Clara , California, Anaheim, Santa Ana, Irvine , California, Francisco, Oakland, Hayward , California, Honolulu, Hawaii, Salinas , California, Diego, Carlsbad , California, Oxnard, Ventura , California, San Luis Obispo, Paso Robles , California, Angeles, Long, Glendale , California, Boulder , Colorado, Naples, Marco Island, Florida, San Francisco, Atherton, Midwest

☆ The 5 red flags a Michelin-star pastry chef looks for when visiting high-end bakeries
▼ + stars: | 2024-04-03 | by ( Rachel Askinasi | ) www.businessinsider.com time to read: +5 min

Dubbed NYC's dessert doyenne, the chef has developed her own set of red flags to look out for whenever she visits high-end bakeries. And if the croissants look perfectly machine-made, something might not be right in the kitchen. Beware of bread that's wrappedMick said high-end bakeries should only be selling fresh bread. ciobanu ana maria/Getty ImagesBefore she even steps into a bakery, Mick might turn to Instagram for visuals. So, for example, a bakery that's filling cannoli and leaving them in the case until they're purchased raises some concerns.

Persons: —, Camari Mick, Mick, Liang Lim, that's, they'll, maria, she's, it's, they're Organizations: Service, Business, telltale Locations: New York City, Raf's

☆ This payments firm has Nvidia-like profit margins — and it's even more sustainable, investor says
▼ + stars: | 2024-04-01 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Gooch-Peters pointed to Visa — which has a 60% operating profit margin — as a more sustainable investment opportunity. This creates a strong competitive moat and helps to sustain the company's high profit margins over time. Gerry Fowler, chief European equity strategist at UBS, echoed the sentiment about the importance of a company's competitive moat while picking stocks. The UBS strategist pointed to the attempts of Apple, then the world's biggest company, to break into the payments network sector. The UBS strategist also cautioned that impenetrable moats might sometimes pose a downside risk to investors.

Persons: Hannah Gooch, Peters, you've, Gooch, London Business School . Gooch, " Gooch, Gerry Fowler, Fowler, Flower Organizations: Nvidia, Sanlam Investments, CNBC, London Business School, Visa, Sanlam's, Quality, UBS, Apple, world's, MasterCard, Apple Card, Mastercard, U.S

☆ How Big Tech Companies Sabotage New Startups — From the Inside
▼ + stars: | 2024-04-01 | by ( Adam Rogers | ) www.businessinsider.com time to read: +14 min

They don't replace the tech giants — they just get bought by the tech giants. A new paper by two leading scholars suggests that these days, Big Tech doesn't have to resort to buyouts to crush aspiring startups. At this point, Big Tech looks at promising startups the way evil alien empires in science fiction look at helpless planets. The data that Big Tech shares — or doesn't share — can play an instrumental role in shaping a startup's work. Finally, the big companies use their clout on Capitol Hill in an effort to impose stricter regulations on the startups they're ostensibly trying to help.

Persons: that's, That's, Joe Biden, Mark Lemley, Matt Wansley, they're, Wansley, Who, Lemley, Sam Altman, Satya Nadella, Barbara Ortutay, Florian Ederer, Elon Musk, OpenAI, Marc Andreessen, watchdogs, Ederer, Anthropic, Adam Rogers Organizations: Apple, Meta, Microsoft, Federal Trade Commission, Justice Department, Big Tech, Stanford University, Cardozo School of Law, Google, Facebook, Star, Yale, London Business School, Tech, Boston University, titans, IBM, Dells, Business Locations: Silicon Valley, —

☆ Fitness influencers swear by the 'carnivore diet'—it's 'basically a terrible idea,' doctor says
▼ + stars: | 2024-03-30 | by ( Renée Onque | ) www.cnbc.com time to read: +5 min

Here's what experts have to say about the safety and sustainability of the carnivore diet. The diet, similar in style to the Atkins and keto diets, goes by many names: carnivore diet, lion diet, high-fat diet and animal-based diet. Beef, butter, bacon and eggs — that's what some influencers swear by for the " carnivore diet ." Weight loss is one of the huge benefits that people who follow the carnivore diet claim they've experienced since adding more animal-based products to their diet. "You can think [that] if you're eating that kind of meal, you're helping bring down another tree on the other side," he adds.

Persons: TikToker @steakandbuttergal, Atkins, Walter Willett, Harvard T.H, Willett, Georgia Ede, Ede, There's Organizations: Harvard, of Public Health, Internal Medicine, Harvard Health Publishing, CNBC Locations: Chan, Europe, United States

☆ Marissa Mayer has a new photo-sharing app. It looks like it's from 2009, but boomers might love it.
▼ + stars: | 2024-03-28 | by ( Katie Notopoulos | ) www.businessinsider.com time to read: +3 min

Marissa Mayer, former Yahoo CEO, just announced a new app from her latest venture. It's called Shine, and it's a photo-sharing app where multiple people can upload photos to a shared album. Are you really trying to tell me that in the year 2024, people can't figure out how to share photos with each other? Shine, the new photo-sharing app ShineYes, there are some other things that could do this. Maybe, just maybe, Marissa Mayer will have another success on her hands here.

Persons: Marissa Mayer, It's, Mayer, —, Aunt Carol Organizations: Service, Yahoo, TechCrunch, Business, DOJ, Flickr, Google

☆ I miss being a single mom sometimes. I wish I'd enjoyed that time more before I remarried.
▼ + stars: | 2024-03-27 | by ( Ashley Archambault | ) www.businessinsider.com time to read: +3 min

Until my son was seven, I was a single mom. As a teacher, I once had a student say they had "mad respect" for me when they found out that I was a single mom, and that's because the majority of people realize that being a single mom isn't easy. But now that I have that and I've been remarried for a couple of years, I actually miss my life as a single mom. If I could go back to my single mom days, I would appreciate the time more. For that, I wouldn't trade having been a single mom for anything.

Persons: I've, it's

☆ Investing legend Jeremy Grantham sounds the alarm on a stocks bubble, blasts bitcoin, and says the dollar's still king
▼ + stars: | 2024-03-26 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

The stock market "shows every sign of being just as crazy" as it's ever been, the GMO cofounder and long-term investment strategist told the Insightful Investor podcast in a recent conversation. AdvertisementThe veteran investor underscored that prolonged bull markets typically begin when unemployment is high, profit margins are depressed, and stock valuations are beaten down. Current conditions are the polar opposite of that, putting stocks in "double jeopardy" as both profits and valuations may plunge, Grantham said. Related storiesThe stock market has staged big rallies during boom times a couple of times before, including in 1929 and 1999, but those "ended incredibly badly," he said. Grantham also tackled the topic of de-dollarization and whether the dollar might lose its status as the world's reserve currency.

Persons: —, Jeremy Grantham, Grantham Organizations: Service, Business, Kodak, Polaroid, greenback

☆ Dollar dips, yen draws support from Tokyo's jawboning
▼ + stars: | 2024-03-26 | by ( ) www.cnbc.com time to read: +3 min

The dollar was on the back foot on Tuesday, owing to profit taking and pressured in part by a slightly stronger yen as Japanese government officials continued with their jawboning to defend the currency. The dollar was on the back foot on Tuesday, owing to profit taking and pressured in part by a slightly stronger yen as Japanese government officials continued with their jawboning to defend the currency. "But it's even tougher for the (dollar) to weaken when other central banks were sounding more dovish than a dovish Fed." The dollar index was last 0.02% lower at 104.20, while the euro rose 0.03% to $1.0840. "While they say that the fundamentals don't justify the price, the market's telling them something else," said IG's Sycamore.

Persons: he's, Tony Sycamore, Thierry Wizman, Shunichi Suzuki Organizations: New Zealand, Federal, IG, FX, Macquarie, Fed, Japanese Finance, Bank of Japan's Locations: U.S, Japan, United States, Sycamore

☆ Here's why James Carville believes Biden's been 'the best president that Black America's ever had'
▼ + stars: | 2024-03-24 | by ( John L. Dorman | ) www.businessinsider.com time to read: +3 min

James Carville favorably compared Biden's record for Black Americans to that of Obama and Clinton. In April 2023, the Black unemployment rate fell to 4.8%, the lowest level on record. "He's been demonstrably the best president that Black America's ever had, Clinton and Obama included," Carville said of Biden. AdvertisementIn April 2023, the Black unemployment rate fell to 4.8%, the lowest level on record for Black citizens. And for Black Americans in the workforce, weekly pre-tax earnings surged 24.8% from Q1 in 2020 through the end of 2023, according to CNBC.

Persons: James Carville, Obama, Clinton, He's, Black, —, Joe Biden's, Barack Obama, Bill Clinton, Carville —, Maureen Dowd, Carville, Biden, Donald Trump Organizations: Times, Service, Democratic, Black, Democratic Party, New York Times, CNBC, …

☆ It's been four years since the market's Covid low with the S&P 500 returning 25% annualized since
▼ + stars: | 2024-03-23 | by ( Michael Santoli | ) www.cnbc.com time to read: +8 min

The four-year total return for the S & P 500 since March 23, 2020, is just about 150%, or 25.7% annualized. .SPX mountain 2020-03-23 S & P 500 since the Covid low This is, of course, an idealized starting point from which to measure performance. While the S & P 500 bottomed at around a three-year low under 2,200, the index spent only a few weeks under 2,500. More qualitatively, it's a bull market, and in a bull market the overshoots occur to the upside, so a rally being "ahead of itself" is not fatal. And the S & P 500 is only 9% higher than it was more than two years ago, hardly reaching escape velocity from planet Sanity.

Persons: –, Warren, Ned Davis, Tim Hayes, bullishness, Rocky White Organizations: HSBC, 3Fourteen, Bank of Japan, Fed, Ned Davis Research, Schaeffer's Investment Research, Intelligence, Bank of America

It recently unveiled what it calls Vitruvius, an AI program that helps consumers design custom homes online and get the plans, making the process cheaper and faster. Vitruvius can recall every design and possibility it's ever seen, according to Ballard. Though other AI models have gotten into hot water for potential copyright infringement, Ballard said he isn't concerned in this case. "I have no doubt that tools like this are going to change the way that we do things." Ballard said the implications of AI in architecture extend beyond just consumers looking to save on architecture fees.

Persons: Vitruvius, Jason Ballard, Ballard, It's, Leonardo Guzman, Gina McAndrews, I've, McAndrews Organizations: Southwest Locations: U.S, Ballard, Austin , Texas

☆ Trump-backed candidate Bernie Moreno wins Ohio Republican Senate primary, NBC News projects
▼ + stars: | 2024-03-19 | by ( Rebecca Picciotto | ) www.cnbc.com time to read: +2 min

US Senate candidate Bernie Moreno, Republican of Ohio, speaks before former US President and Republican presidential candidate Donald Trump takes the stage during a Buckeye Values PAC Rally in Vandalia, Ohio, on March 16, 2024. Donald Trump-backed businessman Bernie Moreno will win Ohio's Republican Senate primary, NBC News projects, teeing up a high stakes November contest against incumbent Democratic Sen. Sherrod Brown. Moreno's main opponent was State Sen. Matt Dolan, who secured the endorsement of Ohio's popular Republican Gov. My endorsement of President but from President Trump, I wear that with a badge of honor," Moreno said. "It's evident that Donald Trump's endorsement for Bernie Moreno was a key factor," Dolan told reporters after conceding the race to Moreno.

Persons: Bernie Moreno, Donald Trump, Democratic Sen, Sherrod Brown, Moreno, State Sen, Matt Dolan, Mike DeWine, Frank LaRose, Trump's MAGA, President Trump, Trump, Joe Biden, Dolan, Donald Trump's Organizations: Republican, Buckeye, PAC, Republican Senate, NBC News, Democratic, State, Republican Gov, GOP, Trump Locations: Ohio, Vandalia , Ohio, Cleveland

☆ Tesla is the biggest S&P 500 loser this year, down even more than Boeing
▼ + stars: | 2024-03-18 | by ( George Glover | ) www.businessinsider.com time to read: +4 min

NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Close to three months later, the electric carmaker holds a much less enviable title — it's the S&P 500's biggest loser year-to-date. Tesla shares have plummeted about 30% year-to-date, wiping about $230 billion off the company's value. AdvertisementThe gap was even wider at the end of last week, but Tesla shares were up almost 6% on Monday. AdvertisementNelson also believes Tesla could become the world's biggest auto manufacturer — but others don't share his optimism.

Persons: —, Tesla, Elon, BYD, That's, Seth Goldstein, Goldstein, Refinitiv, Garrett Nelson, Nelson, Wells, Ross Gerber, who's Organizations: Elon, Service, Boeing, Alaska Airlines, MAX, Elon Musk's, North, Fox Business Locations: Elon Musk's, North America, Europe

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