Fayez Sarofim, an Egyptian immigrant who built a successful investment firm with an approach similar to Warren Buffett’s, died in Houston on Saturday at age 93. Sarofim, who became a billionaire, had ...
Tag: Financial Investment Services
Yuan-ruble trading explodes 1,000% in latest challenge to U.S. dollar’s dominance
The Russian ruble has rebounded sharply off the lows seen after the invasion of Ukraine, although there remains a wide margin between prices quoted in Moscow and those quoted offshore. But in the late...
Stocks close sharply higher after inflation data; Dow snaps longest weekly losing streak since 1932
U.S. stocks ended sharply higher Friday, with all three major benchmarks booking weekly gains, after the Federal Reserve’s preferred measure of inflation for April had the smallest increase in a year ...
Ray Dalio says ‘cash is still trash’…but stocks are trashier
It wouldn’t be Davos week without a CNBC exclusive interview with Bridgewater Associates’ Ray Dalio, the founder of the world’s largest hedge fund by assets under management and one of the most closel...
Conditions Are Ripe for a Deep Bear Market
With the S&P 500 briefly on Friday down 20% from its January peak, it is very tempting to start trying to call the end of the selloff. The problem is that only one of the conditions for a rally is...
Northrop Grumman and 5 More Companies That Raised Their Dividends This Week
Text size Northrop Grumman said it would raise its stock dividend. Courtesy of Northrop Grumman American Tower , Chubb , and Northrop Grumman were among the U.S. companies this week that announced pla...
Selloff puts Dow, S&P 500 on cusp of bear market. History says more pain may lie ahead.
History shows that when the S&P 500 enters a bear market, it tends to stay awhile. Back-to-back drops left the large-cap benchmark SPX, -0.58% down 18.7% from its Jan. 3 record finish on Thursday,...
Why one hedge-fund manager invests in Bank of America and says Tether’s days are numbered
Guy Spier, the fund manager of the Aquamarine Fund, has no shortage of praise to pour upon Jamie Dimon, the chairman and chief executive of JPMorgan Chase. “The combination of Jamie Dimon and JPMorgan...
Markets haven’t acted like this since 1981 — and here’s how that played out
You have to go all the way back to 1981 when stocks, bonds, inflation-protected bonds and industrial metals were all slumping simultaneously. The S&P 500 index SPX, -0.73% has retreated 18% this y...
Americans are still saving for retirement — and becoming 401(k) millionaires
Americans may be afraid to look at their retirement accounts thanks to stock market volatility, but many investors are still staying the course, according to Fidelity Investments’ most recent data rel...
Cathie Wood has a simple response to Tesla getting booted out of an S&P 500 ESG index: ‘Ridiculous’
Cathie Wood isn’t pleased about one of her most popular investments, Tesla Inc., being excluded from a prominent index that tracks eco- and socially friendly companies. “Ridiculous,” was essentially W...
A ‘summer of pain’ for stocks? Nasdaq Composite could plunge 75% from peak, and S&P 500 skid 45% from top, warns Guggenheim’s Scott Minerd
The carnage playing out in the U.S. stock market on Wednesday is likely an amuse-bouche compared with the devastation on the menu for the bulls in the coming months and years, Guggenheim Partners Glob...
He has $100K in credit card debt, $60K in bitcoin. 4 money pros on what to do
What to do when you have crypto assets and debt to contend with. Getty Images/iStockphoto “I have $100K in credit card debt, but $60K in bitcoin. Should I use it to repay the debt, or hold onto bitcoi...
Chevron, Micron and 18 More Stocks Goldman Recommends to Ride Out the Storm
Text size Qualcomm is one of the 20 stocks on Goldman Sachs’ ‘margin of safety’ list. Pau Barrena /AFP via Getty Images Exxon Mobil , Qualcomm , Micron and Chevron are just some of t...
Boeing Could Face Another Test on 787. Investors Need ‘D’ for Deliveries.
Text size An American Airlines Boeing 787-9 Dreamliner. Joe Raedle/Getty Images Boeing investors could use a bit of good news, but they don’t seem to be getting any. The latest is the assertion that t...
What is a high-deductible Medigap plan, and is it worth the cost?
This article is reprinted by permission from NerdWallet. Medicare Supplement Insurance, or Medigap, covers “gaps” in Original Medicare coverage, including certain copays, coinsurance and deductibles....
Bitcoin and Ether Prices Drop in Weekend Slump
Text size Bitcoin has lost 58% since its November 2021 peak near $69,000. Dreamstime Cryptocurrency investors are getting no rest on Saturday, as digital assets resumed their decline after a midweek r...
Are We in a Bear Market? Investors Should Stay Calm.
About the author: David Rosenberg is founder and president of Rosenberg Research & Associates. He was formerly chief economist and strategist at Gluskin Sheff + Associates Inc, and chief North Ame...
This JPMorgan portfolio manager says he isn’t betting on a U.S. recession
In a wobbly stock market, Phil Camporeale, a portfolio manager at JPMorgan Chase & Co., is betting the U.S. will avoid a recession. Rising interest rates are the “number one culprit this year for...
Euro to hit parity vs. the dollar this year, Europe’s largest fund manager says
The chief investment officer of Europe’s largest fund manager expects the euro to fall to parity against the dollar. Vincent Mortier, the chief investment officer at Amundi, told the FT that the euro ...
As Ark’s flagship fund plunges 76% from its peak, Cathie Wood still views her stocks as residing in ‘deep value territory’
The wheels have really come off the wagon of the stock market and Cathie Wood’s ARK Invest has, arguably, seen the most dramatic fall from its parabolic rise, amid the current downdraft in markets. Ho...
Coinbase: Customers Could Lose Crypto If It Ever Went Bankrupt
Text size Coinbase customers don’t have the same protections as bank or brokerage customers. Dreamstime As if crypto investors don’t already have enough to worry about, Coinbase Global (ticker: ...
Here’s the real reason the stock market is coming unglued — and it isn’t because of weak earnings
An earnings recession is not the biggest threat facing the stock market right now. That may seem a curious assertion to make in a week in which the largest retailers are reporting disappointing earnin...