Saba Capital’s Boaz Weinstein said the high yield debt market is overvalued and as a result he is betting against the bonds of retailers and hospitals. “Let’s unpack high yield … the reward isn’t there” given the risk, Weinstein said at the Delivering Alpha Conference in New York on Tuesday, noting that smaller retail investors […]

Giving President Donald Trump credit for the strength of the U.S. stock market is a “stretch,” said hedge fund manager Jim Chanos, a noted short seller. Global equities are experiencing a “synchronized bull market,” fueled by years of the easy money policies of world central banks, he told CNBC’s “Fast Money Halftime Report” on Tuesday. […]

Starboard Value Jeffrey Smith pitched store-brand pharmaceutical company Perrigo as his best investment idea now, during a conference Tuesday. In addition to Perrigo, Smith also advocated for Altaba, the former Yahoo, which he said will benefit from tax reform once it makes its way through Congress. Perrigo makes versions of ibuprofen, liquid cold medicines and […]

Hedge fund king Ray Dalio said it would be “terrible” if Gary Cohn would leave the White House and could upset markets. Speculation about Cohn’s future has been rampant since he apparently has fallen out of favor with President Donald Trump. Cohn, the former chief operating officer at Goldman Sachs, is Trump’s top economic advisor […]

A slew of chip stocks are likely headed for gains after Apple’s product launch Tuesday in Cupertino, JPMorgan predicts. With many investors expecting significant developments in the next generation of iPhone, JPMorgan released a report listing some of the companies likely to see shares jump, including Apple’s rising chip technology partner, Broadcom. “As we have […]

Billionaire hedge fund manager Leon Cooperman recommended First Data, Shire, United Continental Holdings, Hess and WPX Energy at the Delivering Alpha conference presented by CNBC and Institutional Investor in New York Tuesday. On First Data: “Stock is very cheap.” On Shire: “Investors have overly discounted concerns and ignored positive data.” On United Continental: “The airline’s […]

The “Fast Money” traders shared their first moves as the market opens. Pete Najarian was a buyer of Snap. Tim Seymour was a buyer of Qualcomm. Dan Nathan was a buyer of Intel. Guy Adami was a buyer of Citigroup. Trader disclosure: On September 11, 2017 , the following stocks and commodities mentioned or intended […]

Treasury Secretary Steven Mnuchin on Tuesday said the stock market has surged on expectations President Donald Trump’s administration and Congress will pass tax reform. The S&P 500 has rallied more than 16% percent since the Nov. 8 election through Monday, adding more than $2 trillion in market value to the benchmark, according to S&P. “There […]

The easy money has been made off retail’s meltdown, and now it’s time to see where the sector is going, billionaire Marc Lasry told CNBC on Tuesday. “We’ve covered quite a bit,” the chairman and CEO of Avenue Capital said ahead of the 2017 Delivering Alpha Conference presented by CNBC and Institutional Investor magazine. “Right […]

In a year that has seen digital currency prices go higher not by percentages but multiples, investors are starting to worry that things have gone a bit too far. Bitcoin is now considered the “most crowded trade,” as measured by sentiment in the monthly global Bank of America Merrill Lynch Fund Managers survey. That means […]