Aswath Damodaran predicts digital currencies will eventually be as important as the major paper currencies. He said cryptocurrencies have already replaced gold for younger investors. CNBC’s Mike Santoli spoke with Damodaran in an exclusive interview for CNBC PRO. Santoli asked the valuation expert about bitcoin and other cryptocurrencies. “All currency is … based on trust. […]
Read moreAn unflattering profile piece this weekend in Barron’s has generated some online discussion, and the portfolio manager himself published a response. “I just felt the whole thing was kind of bizarre,” Eddy Elfenbein, portfolio manager of the AdvisorShares Focused Equity ETF (CWS), told CNBC in a phone interview Tuesday. “People over the weekend, they felt […]
Read moreApple has invented a more discreet way to call emergency services with a touch, aimed at helping users evade potential attackers. A patent granted on Tuesday depicted technology that would sense the “manner” in which a finger touched the iPhone screen to trigger a 911 call. For example, the phone might look for a particular […]
Read moreWall Street has wiped out half of Snap’s value since the days following its IPO. Shares of the social media company hit a fresh low of $14.63 a share on Tuesday, less than half the stock’s all-time intraday high of $29.44 on March 3. The stock popped 44 percent on its first trading day, March […]
Read moreA stock trader at one of “pharma bro” Martin Shkreli‘s hedge funds testified Tuesday he did not see Shkreli “buying and selling stock” or doing other things hedge fund operators normally do. “I didn’t see him doing a whole lot,” said the trader, Timothy Pierotti, at Shkreli’s securities fraud trial in Brooklyn, New York, federal […]
Read morePiper Jaffray raised its price target on shares of Match Group after signs pointed to an unexpected acceleration in paid members last month for its dating app Tinder. “Based on prior rank improvements and the nature of the top 10 grossing apps, this suggests a surprisingly strong net add of 340K in Q2,” noted Piper […]
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If you think the S&P 500 is set to rise even higher from current, near-record levels, you’re in luck. Bullish options contracts that will increase in value should the market rise a few percentage points over the course of the next month have rarely cost less. “They’re basically giving away call options,” Pravit Chintawongvanich, head […]
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JUST like that, America’s laptop ban is all but over. Four months ago the Trump administration announced that travellers from ten Middle Eastern countries would be barred from taking electronics larger than a mobile phone into plane cabins, citing security concerns. In the past few weeks, the government has been gradually freeing carriers, including Emirates, […]
Read moreNew stock exchange trying to thwart high-speed traders and offer better prices is apparently working
Last year, a new stock exchange called IEX, or The Investors Exchange, emerged to challenge traditional Wall Street as the champion of the ordinary investor. New analysis says its core mission has been successful so far. In an opinion column in The New York Times on Tuesday, Jonathan Macey of Yale Law School and David […]
Read moreThe Senate’s failure to replace Obamacare raises new worries for markets that Washington dysfunction will prevent the Trump administration from driving through other aspects of its agenda — most importantly tax reform. The dollar fell and Treasury yields slid, after two senators signaled late Monday that they could not support the revised bill, and in […]
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