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☆ David Einhorn says investors should be 'bearish on stocks and bullish on inflation'
▼ + stars: | 2023-03-01 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Greenlight Capital's David Einhorn said Wednesday he's keeping his negative stance on the stock market as inflation and interest rates could shoot higher. "I think we should be bearish on stocks and bullish on inflation," Einhorn said on CNBC's "Halftime Report." "I think that both long and short term rates are headed higher and probably higher than what people are expecting," Einhorn said. "I think it would be better if they cared less about the stock market in either direction." At the end of 2022, Greenlight's biggest long position included Green Brick Partners, Brighthouse Financial and Consol Energy.

☆ The inflation story is really very complicated, says Greenlight Capital's David Einhorn
▼ + stars: | 2023-03-01 | 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 EmailThe inflation story is really very complicated, says Greenlight Capital's David EinhornDavid Einhorn, Greenlight Capital, joins CNBC's 'Halftime Report' to discuss his views on inflation.

☆ Investor David Einhorn, whose hedge fund was up nearly 37% last year, gives his favorite longs
▼ + stars: | 2023-03-01 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Greenlight Capital's David Einhorn is continuing to bet on some of the long stocks that helped his hedge fund outperform in last year's market rout. That includes CONSOL Energy , a coal stock that was among the hedge fund's biggest long positions and winners in 2022. The comments from Einhorn come after the star hedge fund manager posted a solid end to 2022 by betting on inflation and against growth bubble names. His hedge fund surged nearly 37% due in part to long positions in names like Atlas Air Worldwide , Teck Resources and Twitter, before its acquisition. Green Brick Partners and Danimer Scientific marked the hedge fund's only two significant losing long positions 2022, he wrote in his January letter.

☆ David Einhorn on his winning short 'bubble basket' strategy that he's continuing
▼ + stars: | 2023-03-01 | by ( Jesse Pound | ) www.cnbc.com time to read: +2 min

Hedge fund manager David Einhorn said Wednesday that he is continuing his bets against "bubble baskets" of stocks that helped Greenlight Capital rebound in 2022. In his annual letter released last month, Einhorn defined a bubble stock as one that "could fall at least 80% and still not appear cheap to us." Einhorn told CNBC on " Halftime Report " on Wednesday that the firm is still betting against some of those stocks. The fund manager said Greenlight is still betting against that basket of stocks, though at a smaller weight. "I think most people in the market right now cannot do valuation, they choose not to do valuation, or structurally they're valuation agnostic," Einhorn said.

☆ High-profile hedge funds dive back into beaten-down tech stocks to capitalize on the big comeback
▼ + stars: | 2023-02-20 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Many high-profile hedge funds jumped back into technology stocks — the group that hurt their alpha the most last year — just in time to benefit from the furious comeback in the new year. These big investors loaded up on stocks that were among last year's biggest losers amid the Federal Reserve's aggressive rate hikes. Hedge funds overall saw significant negative long alpha (-12.1%) last year, with the single biggest contributor being exposure to info tech, according to Goldman Sachs. .IXIC 1Y mountain Nasdaq Composite The rebound in technology stocks came fast and furious in the new year. Hedge funds overall were able to beat the market significantly.

☆ Blinken to talk aid, Nordic NATO bid in visit to quake-hit Turkey
▼ + stars: | 2023-02-19 | by ( Humeyra Pamuk | ) www.reuters.com time to read: +4 min

[1/2] United States Secretary of State Antony Blinken arrives for a meeting with Azerbaijani President Ilham Aliyev and Armenian Prime Minister Nikol Pashinyan at the Munich Security Conference in Munich, February. Since the earthquake, the United States has sent a search and rescue team to Turkey, medical supplies, concrete-breaking machinery, and additional funding of $85 million in humanitarian aid that also covers Syria. While the United States has praised Turkey for some of its actions during Russia's invasion of Ukraine, it remains worried over its close relationship with Moscow, experts say. "There will be no transfer of F-16s if Erdogan continues to deny admission to Finland and Sweden ... Ibrahim Kalin, Erdogan's chief foreign policy advisor, said last month he hoped the F-16 deal would not become "hostage" to the NATO memberships of Sweden and Finland.

☆ Here are David Einhorn's top holdings that helped propel one of Greenlight's best years
▼ + stars: | 2023-02-15 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Greenlight Capital's David Einhorn just scored one of his best years ever as the value investor took advantage of the extreme market volatility. At the end of 2022, Green Brick Partners and Brighthouse Financial — two inflation plays he's held for a few years — remained Einhorn's top two holdings. CONSOL Energy and Teck Resources were also among Einhorn's biggest stakes at the end of 2022. Einhorn previously revealed that he established a new medium-sized long position in hospitals and ambulatory surgery centers operator Tenet Healthcare during the fourth quarter. Einhorn revealed previously that his stellar performance last year was partly driven by his short position in a slew of innovative technology stocks like those touted by growth investor Cathie Wood.

☆ Markets are kicking off a make-or-break stretch with inflation, jobs, and more Fed policy looming
▼ + stars: | 2023-02-14 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

Fed Chairman Jerome Powell warned — once again — last week that rates may eventually end up higher than markets anticipate as the fight against inflation remains far from over. Now, ahead of the CPI report, let's check in with the outlook for stocks. To Bernstein strategist Matthew Palazzolo, today's inflation reading will kick off a momentous five-week stretch for equities. The jobs report on March 3, the next inflation report on March 14, and the Fed meeting on March 22 will shape the rest of the year for stocks, he explained to my colleague George Glover. Your best bet for where the stock market's going this year can be found in the two-year Treasury yield, according to Mohamed El-Erian.

☆ Amazon Studios is growing fast and spending big on shows like 'Citadel,' but insiders say unclear creative direction, leadership shifts, and tech bureaucracy threaten to drive away staff and talent
▼ + stars: | 2023-02-10 | by ( Lucia Moses | Elaine Low | ) www.businessinsider.com time to read: +20 min

The dust has been settling at Amazon Studios after a big reorg in the fall that solidified Jen Salke's power. Yet Amazon Studios faces major challenges. Amazon Studios' Head of Global Television Vernon Sanders told Insider that the goal is to deliver content with global cultural relevance. Amazon Prime VideoWhile spending on such big swings has soared, some insiders see far less budgetary support for underrepresented casts. "I do think people wonder what's the commitment to Amazon Studios," the current insider said.

☆ Ukraine's Zelenskyy expected to ask for more aid from European leaders in Brussels trip
▼ + stars: | 2023-02-09 | by ( Silvia Amaro | ) www.cnbc.com time to read: +1 min

BRUSSELS — Ukrainian President Volodymyr Zelenskyy is meeting European leaders on Thursday as he continues his second major trip abroad since Russia invaded Ukraine. It is the second time that Zelenskyy is known to have left Ukraine since Russia invaded the country on Feb. 24 last year. Last month, Zelenskyy asked Ukraine's allies for fighter jets — a request that has so far not received the greenlight from Western nations. However, the U.K. said Wednesday it will provide training to Ukrainian pilots to fly fighter jets, and British Prime Minister Rishi Sunak said nothing was off the table when it comes to supporting Ukraine. In Paris, Zelenskyy was also very clear with his requests to the French and German heads of state.

The U.S. Department of Justice's bankruptcy watchdog has urged U.S. Bankruptcy Judge John Dorsey, who is overseeing FTX's Chapter 11, to appoint an independent examiner to investigate allegations of "fraud, dishonesty, incompetence, misconduct, and mismanagement" that are "too important to be left to an internal investigation." FTX says an examiner would merely duplicate work already being done by FTX, its creditors, and law enforcement agencies. FTX's founder Sam Bankman-Fried, who has been accused of stealing billions of dollars from FTX customers to pay debts incurred by his Alameda Research hedge fund, has pleaded not guilty to fraud charges. FTX's official creditors committee has sided with FTX, saying the proposed investigation is redundant. State securities regulators in Texas, Vermont and Wisconsin supported the Justice Department's bid, saying a neutral report would benefit creditors and customers.

☆ Asian shares jump, dollar eases after Powell comments
▼ + stars: | 2023-02-02 | by ( Ankur Banerjee | ) www.reuters.com time to read: +3 min

MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 0.84% higher, while Japan's Nikkei (.N225) rose 0.37%. In the currency market, the dollar spiked lower following Powell's remarks, with the U.S. dollar index , which measures the currency against six major peers, falling to a fresh nine-month low of 100.80. The yen strengthened 0.22% to 128.65 per dollar, while sterling was last trading at $1.2372, down 0.03% on the day. The yield on 10-year U.S. Treasury notes was up 1.5 basis point to 3.413%, while the yield on the 30-year Treasury bond was up 1.3 basis point to 3.563%. The two-year U.S. Treasury yield, which typically moves in step with interest rate expectations, was down 0.2 basis point at 4.108%.

☆ Pakistan's forex reserves with central bank drop to $3.09 bln
▼ + stars: | 2023-02-02 | by ( ) www.reuters.com time to read: +2 min

ISLAMABAD, Feb 2 (Reuters) - Pakistan's foreign exchange reserves held by the central bank decreased by 16.1% to $3.09 billion in the week ending Jan. 27, the State Bank of Pakistan (SBP) said on Thursday, which analysts said covers less than three weeks of imports. The country is locked in negotiations with the International Monetary Fund (IMF) to release much-needed money under a stalled bailout programme. The central bank said in a statement that the drop in reserves was due to external debt repayments. Reserves held by commercial banks stood at $5.65 billion, taking total liquid reserves in the country to $8.74 billion, SBP added. The central bank recently removed a cap on exchange rates and the government raised fuel prices by 16%.

☆ Ukraine war live updates: U.S. fighter jets for Ukraine? Biden says 'no'; Russia now carrying out 'more concerted assault' on Donetsk
▼ + stars: | 2023-01-31 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

There's likely to be disappointment in Kyiv this morning after its biggest military supporter, the United States, ruled out sending fighter jets to Ukraine. When asked by reporters on Monday whether he would send F-16 fighter jets to Kyiv, U.S. President Joe Biden gave reporters a one-word answer: "No." Biden's comments come a day after his German counterpart, Chancellor Olaf Scholz, also ruled out sending jets to Ukraine. The U.S. and Germany only last week gave the greenlight to sending modern battle tanks to Ukraine after months of pleas from Kyiv for the tanks. Within hours of receiving news that it would be receiving Western tanks, Kyiv renewed its calls for fighter jets, such as the U.S.' F-16s, saying it needs all the firepower it could get sooner rather than later.

☆ These midcap stocks are cheap and expected to see booming earnings growth in 2023
▼ + stars: | 2023-01-30 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

In a year when corporate earnings are broadly expected to deteriorate , some midcap names with cheap valuations are forecast to see strong earnings growth. However, the blended S & P earnings decline for the fourth-quarter is -5%, per FactSet. Midcap stocks are faring slightly better, with the S & P 400 MidCap up nearly 8% year to date. Each is also expected to post earnings growth of at least 20%, per FactSet. Earnings growth at $8.3 billion market cap company is expected to expand by nearly 32% and it has a P/E of 10.4.

☆ Ukraine war live updates: German tanks decision 'half a step' away, Kyiv says; Ukraine government reshuffle expected
▼ + stars: | 2023-01-24 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +2 min

A decision on whether to supply Leopard 2 tanks to Ukraine is in its final stages, Ukraine's Foreign Minister Dmytro Kuleba said Monday, with only a last "half step" to be taken. "We have only half a step left to take in the matter of tanks," Kuleba said during a nationwide news telethon reported by news outlet Ukrinform Monday. "We have already received the British Challengers [tanks], which we were once told were impossible. I have no doubts that the Leopard tanks will reach us. Germany is under intense pressure to decide whether to give the greenlight for German-made tanks to be sent to Ukraine.

☆ U.S., Allies Step Up Ukraine Military Aid as German Hesitancy Over Tanks Threatens Rift
▼ + stars: | 2023-01-20 | by ( Gordon Lubold | Drew Hinshaw | ) www.wsj.com time to read: 1 min

RAMSTEIN AIR BASE, Germany—U.S. Defense Secretary Lloyd Austin and allies gathered here Friday to discuss a significant boost in military aid for Ukraine as the question of whether the German government will greenlight tanks for Kyiv threatened to expose a fracture among Ukraine’s supporters. The U.S. and its European allies have closely coordinated their support for Ukraine in the 11 months since Russia invaded Ukraine, including a large new package from the U.S. that Mr. Austin announced Friday.

☆ Greenlight's David Einhorn is shorting innovation stocks like those held by Cathie Wood
▼ + stars: | 2023-01-17 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Einhorn also said he is still short some 'bubble' names. Driving the stellar performance was a successful bet against what seemed to be the constituents of Wood's flagship ARK Innovation ETF (ARKK) . "In early 2021, we also identified an actively-managed ETF of so called 'innovation' stocks that appeared to us to have significantly similar characteristics to our bubble names," stated the letter. ARKK 1Y mountain ARK Innovation ETF's 1-year sell-off Einhorn said he created another "bubble" basket with 31 names totaling 6.5% of capital in January of last year. Einhorn said this bubble basket remained in the portfolio but he has covered some positions.

☆ What a China reopening could mean for the global economy
▼ + stars: | 2023-01-11 | by ( Melissa Lee | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhat a China reopening could mean for the global economyLeland Miller, China Beige Book, on whether a China reopening will be a greenlight for the economy. With CNBC's Melissa Lee and the Fast Money traders, Tim Seymour, Carter Worth, Steve Grasso and Courtney Garcia.

☆ Macro hedge funds end 2022 on high, many others lose big, investors say
▼ + stars: | 2023-01-10 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +2 min

Rokos Capital, run by Chris Rokos and one of a handful of so-called global macro firms, gained 51% last year. Many macro managers sidestepped tumbling equity markets rocked by fast-paced interest rate hikes and geopolitical turmoil including the war in Ukraine to rank among the hedge fund industry's best performers, data from Hedge Fund Research show. The firm's macro index gained 14.2% while the overall hedge fund index dropped 4.25%, its first loss since 2018. Equity hedge funds, where the bulk of the industry's roughly $3.7 trillion in assets are invested, however fared worse with a 10.4% loss, according to HFR data. Tiger Global Management lost 56% while Whale Rock Capital Management ended the year with a 43% loss and Maverick Capital lost 23%.

Friday’s release of former President Donald Trump’s tax returns from his four years in the White House and two years prior is an important and long overdue public service. It also would have been a warning shot to any future presidents who may want to keep their tax returns private. ), chairman of the tax-writing House Ways and Means Committee, asked the agency for information related to Trump’s tax returns. Ultimately, though, it’s on House Democrats that the Trump tax documents release on Friday were so limited. So they couched their court case as looking into the effectiveness of mandatory IRS audits of tax returns of all sitting presidents.

☆ Wall Street's biggest investors are all but sure of a recession next year. Here’s where they are hiding out
▼ + stars: | 2022-12-29 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

For investors looking for a way to ride out the storm in one piece, here are where the biggest investors are hiding out. Emerging markets Bond King Gundlach said it's time to buy emerging market stocks as the dollar has likely hit its peak. Cash Cash, one of the most hated corners of the market for years, has gotten some newfound love as risk assets remain stuck in a rout. Buying safe government bonds allows investors to shop for riskier, more opportunistic credits in the market, Gundlach said. Spreads on non-Treasurys have widened, including guaranteed mortgages, junk bond yields, emerging market debt and asset back securities, he added.

☆ How Gerry Cardinale became the go-to dealmaker for the likes of the Yankees, AC Milan, and Ben Affleck
▼ + stars: | 2022-12-29 | by ( Hayley Cuccinello | Dakin Campbell | ) www.businessinsider.com time to read: +20 min

He bought the soccer club AC Milan in August, earning the attention of the Italian press. This past spring, AC Milan won its first national title in 11 years. Claudio Villa/AC Milan via Getty Images Show less Cardinale at a training session for AC Milan. For instance, the teams sell each other's merchandise in their stadiums, and the YES Network airs AC Milan games. "Now we have a new phase of expansion and internationalization of AC Milan with Gerry."

☆ Companies like Airbnb can ban customers based on a criminal background check: Here's how to dispute it if you think yours is in error
▼ + stars: | 2022-12-27 | by ( Sarah Belle Lin | ) www.businessinsider.com time to read: +6 min

Companies like Airbnb say they use background checks to help protect the community. Background checks have proliferated but there are common flaws in the system, experts say. Here's what criminal justice experts say about inaccurate background checks and how to file appeals. "They're not really looking at potential risk in terms of public safety, per se," Stewart told Insider. "I think part of it is companies being able to determine their own criteria," Stewart told Insider.

☆ Got a thriving side hustle? Here's how and when to tell your boss about it — and why you probably should.
▼ + stars: | 2022-12-21 | by ( Alexandra York | Rebecca Knight | ) www.businessinsider.com time to read: +7 min

Experts say it's important to tell your boss about your side hustle. It's probably time to tell your boss about it. If your side hustle is already a thriving business, you tell your boss right away. PeopleImages/GettyBut if your side hustle is already a thriving business, you should mention it right away, she said. If you have a good relationship with your boss, consider having a frank conversation about how your full-time work benefits from the side hustle.

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