Hedge fund manager David Einhorn, who’s become a billionaire by effectively identifying undervalued and overvalued stocks, is struggling right now and questioning whether the classic investing principles that made him will ever work again. “The market remains very challenging for value investing strategies, as growth stocks have continued to outperform value stocks. The persistence of […]
Read moreAs if things couldn’t get worse for General Electric. Shares of the worst-performing Dow stock fell again on Tuesday and are now in danger of entering a technically perilous pattern that could spell more declines to come. “In a world of new highs, we have General Electric hitting fresh new lows,” Rich Ross of Evercore […]
Read moreGeneral Motors will continue to reduce production of passenger cars in order to retool its product mix in favor of the trucks, SUV’s and crossovers customers are buying, Chief Financial Officer Chuck Stevens told investors Tuesday. The move is part of GM’s larger strategy to trim off unprofitable businesses and focus only its most profitable […]
Read moreBitcoin doesn’t show textbook signs of a bubble yet, but there are other reasons not to buy it, says investing expert William J. Bernstein. The digital currency has “no intrinsic value,” Bernstein said in a phone interview with CNBC.com. It’s “awfully suspicious on that criteria alone.” The “fact the price keeps rising, that’s a very […]
Read moreHouse Speaker Paul Ryan said Tuesday he wants his chamber to pass a tax bill by Thanksgiving, an ambitious goal as Republicans have not yet released a draft tax plan. Following Senate passage on a “slightly slower track,” Ryan told reporters he still aims to have a bill signed into law by the end of […]
Read moreApple CEO Tim Cook said he plans to groom as many people as possible to take over his role as CEO. “I see my role as CEO to prepare as many people as I can to be CEO, and that’s what I’m doing. And then the board makes a decision at that point in time,” […]
Read moreThe debate over “tax reform” has, by design, a kind of bloodless technocratic sound to it. But lurking behind the euphemism and the sometimes-arcane details is a big debate about inequality, political power, and the nature of economic growth. It’s no accident that by 2016 the richest 1 percent of the population had earned 24 […]
Read moreFormer finance minister Wolfgang Schaeuble was elected speaker of Germany’s lower house of parliament on Tuesday, a position from which he will try to impose discipline on far-right lawmakers who opposed his appointment. Schaeuble won 501 of 705 votes from fellow lawmakers for the post of Bundestag president, or speaker. The Alternative for Germany (AfD), […]
Read moreLast summer, Square began offering loans to non-Square merchants with the help of a restaurant software partner called Upserve. Now, the payments and financial services company has created a formal partnership program with the long-term goal of reaching millions more. Square Capital is launching the partnership platform with BigCommerce, an e-commerce software company, that is […]
Read moreWall Street’s rally goes on despite what’s happening in Washington, CNBC’s Jim Cramer said Tuesday. After speaking with CEOs from U.S. companies, Cramer said many are “embarrassed” by what is going on and instead shift their focus to business-friendly developments abroad. “There isn’t anyone who doesn’t feel that the sideshow is hurting us,” Cramer said […]
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