Veteran analyst Dick Bove is about to put some skin in the game as an activist investor in the banking industry. After a career in financial services that has spanned some 53 years, his new adventure will see him switch to strategist for a Hilton Capital Management effort that seeks to capitalize on what he […]
Read more
If Wall Street’s setback since January is indeed simply a routine correction in a still-vibrant bull market, the time is nearing for the market to prove it. Last week’s resilient finish was a step in that direction, though the longer the process drags on the higher the bulls’ burden of proof. The drop from the […]
Read moreShake Shack’s surging stock this year is an opportunity for investors to take some profit, according to J.P. Morgan. The firm lowered its rating for the burger chain’s stock to underweight from neutral, citing the company’s valuation. Shake Shack shares rose 18 percent on Friday, a day after it reported stronger-than-expected first-quarter earnings. “SHAK is […]
Read moreBillionaire investor Carl Icahn has sold his stake in U.S. insurer AIG, Forbes reported on Monday, ending a more than two-year association with one of the largest U.S. property and casualty insurers. The activist investor started accumulating AIG shares in 2015 and became its third largest investor with a 4.76 percent stake as of the […]
Read more
Apple just got a little closer to a $1 trillion market cap after reaching new records. One market watcher sees the world’s largest company breaking through to even higher highs. “We’re still bullish on the name,” said Michael Bapis, partner and managing director at the Bapis Group at HighTower Advisors. “They have gone from a […]
Read moreEmerging markets stocks have been under pressure as the U.S. dollar has gained ground, and one portfolio manager is expecting more pain for the group. Last week, U.S.-based emerging market equity funds posted their first weekly outflows of the year, according to Reuters, citing Lipper data. The EEM emerging markets ETF fell nearly 2 percent […]
Read moreFriday’s tech rally may have set up stocks for more gains in the week ahead, although the market could be tugged at by geopolitical concerns, like trade war talk and Iran. Technology was up 2 percent Friday and 3.2 percent for the week in its first positive week in three. Apple led the charge, bouncing […]
Read moreWarren Buffett is one of the most celebrated investors in history. Many accomplished fund managers credited their success to following the Oracle of Omaha’s common sense value investing philosophy. Buffett’s track record is unparalleled. From 1965 to 2017, Berkshire Hathaway’s rising market value generated a 20.9 percent annual return compared to S&P 500’s 9.9 percent, […]
Read more
Carl Icahn‘s refinery investment stumbled last year as the activist investor’s push to overhaul U.S. energy policy stalled. However, that investment has now rebounded to the tune of more than $1 billion. While Icahn’s unsuccessful bid to change federal refinery rules indirectly dented the investment last year, the turnaround has been helped by the Trump […]
Read moreI haven’t done much stock buying recently, and when I do, I hold my nose and cringe a little. And I’m an investment adviser. I think all the market buyers who keep talking about the great values they’re picking up will eventually have to average down. Portfolio rebalancing and some bargain hunting — a nice […]
Read more