This year’s winner of the Nobel Prize for economics is also an advisor to investment funds with stellar track records. Behavioral economist Richard Thaler is principal at Fuller & Thaler Asset Management, which helps advise a $5.8 billion Undiscovered Managers Behavioral Value Fund. It has almost doubled the S&P 500‘s gains since the beginning of […]
Read moreBorn and raised in this Texas Gulf Coast beach town, James Wheeler Jr. finds himself sawing plywood and hanging sheet rock at a time when he would normally be leading deep-sea fishing excursions, trying to hook tuna or Spanish mackerel by the cooler-full. Since Hurricane Harvey came through Port Aransas just before Labor Day — […]
Read moreTesla shares are falling on a report the company is having problems automating its production line for its new Model 3 vehicles. But the company says the report is “fundamentally wrong and misleading.” The Wall Street Journal reported after the market close on Friday that Tesla was building “major portions” of the Model 3 car […]
Read moreFacebook executives don’t usually say much publicly, and when they do, it’s usually measured and approved by the company’s public relations team. Today was a little different. Facebook’s chief security officer, Alex Stamos, took to Twitter to deliver an unusually raw tweetstorm defending the company’s software algorithms against critics who believe Facebook needs more oversight. […]
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NOT long ago, the starting assumption of any economic theory was that humans are rational actors who maximise their utility. Economists summarily dismissed anyone insisting otherwise. But over the past few decades, behavioural economists like Richard Thaler have progressively chipped away at this notion. They combine economics with insights from psychology to show how heavily […]
Read moreEconomist Mohamed El-Erian told CNBC on Monday it would take a big surprise to knock the U.S. stock market off its perch. “You need a major shock or a major series of shocks to dislodge this market. This market is not dislodged easily,” the Allianz chief economic advisor said on “Squawk Box.” Citing the potential […]
Read moreHopes for President Trump to repeal the Deferred Action for Childhood Arrivals program has diminished dramatically after the White House put out an aggressive list of demands. The Trump administration wants tougher immigration and border security measures, crackdowns on sanctuary cities, green card restrictions and money for a border wall. Now there is a lot […]
Read moreWith the departure of Wolfgang Schaeuble as the German finance chief following the federal election last month, political analysts and economists are busy profiling the possible next head of the country’s finance ministry. Angela Merkel’s Christian Democratic Union (CDU) and its Bavarian sister party, the Christian Social Union (CSU) won the largest share of the […]
Read moreJohnson & Johnson’s acquisition of biotech company Actelion as well as more moderate competition from rival companies will reaccelerate top-line growth, according to one Wall Street firm. Wells Fargo raised its rating on J&J Monday, saying that improved performance could lead to better-than-expected third-quarter results and gains in 2018. “With the accretion from Actelion, more […]
Read moreRegulators in Abu Dhabi are beginning to regulate initial coin offerings (ICOs) — the rapidly growing way that cryptocurrency start-ups are raising money — but have warned of the “many risks” involved. ICOs are a way for start-ups to raise money by issuing a new cryptocoin, while users pay them in bitcoin or ethereum. It’s […]
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