Money

Gary Cohn Spending His Day Hiding From His C- Average “Wharton” “Educated” Boss

Ok, so good news on the econ front. The January jobs report was a beat and on top of that, average hourly earnings are growing at their fastest y/y pace since 2009. “Bigly jobs!” “Tremendous wages!” Unfortunately for the stock market, this news comes amid an egregious bond selloff that saw 10Y Treasurys post some of their worst risk-adjusted returns ever in January. Without boring you with the details, at issue here is the rapidity of the rise in yields. Past a certain point, market participants stop looking at rising long rates as a barometer of the robustness of the recovery (and thereby a validation of the reflation narrative) and start worrying about whether the Fed will find itself in the rather untenable position of having to hike aggressively (which would contribute to rate rise) or...

Everyone Can Relax, Steve Schwarzman Made Money Last Year

We know that many of you have lost sleep this year, laying in the darkness and pondering over the question that haunts us all as human beings: Did Steve Schwarzman make enough money last year? Well, thanks to some intelligently fun reporting from Crains’ New York’s Aaron Elstein, we can finally put your gentle minds to rest. Steve made like a billion dollars…cash. Here’s the math: Here’s how it works. First, Schwarzman is a major stockholder in Blackstone, owning 232 million shares, and he is paid dividends on those shares. The firm said Wednesday that it paid out $3.17 a share to common stockholders last year. (It calls them unit-holders, but never mind.) However, Schwarzman is in line for an even sweeter dividend, because technically his stock is in Blackstone’s holding company. For inst...

Ray Dalio Betting Barolo Stocks About To Turn To Vinegar

Getty Images Italy is having an election next month. This is not a prospect that brings joy to Ray Dalio’s heart. You see, elections in Europe—including Italy—have had a way of going wrong recently, and the Italian poll is no different: It’s expected to bring gridlock and division to an already famously glacial and divided country, and Ray Dalio can tell you from increasingly weary experience that that is no way to govern a nation, least of all one still in the midst of a financial crisis with a banking industry that makes Spain’s look stable. On the other hand, this impending electoral disaster does have its bright sides. The world’s largest hedge-fund firm tripled its bearish wagers against Italian companies in the last three months, mainly focused on the financial sector, data compiled ...

P&G and these other Dow stocks go down the least when market is in the grips of a sell-off

During periods of broad market decline and rising volatility, some Dow consumer stocks can be safety plays, according to CNBC analysis using Kensho.

Art Cashin: The January jobs report hampers an already concerned stock market

Art Cashin says the market was already concerned about rising interest rates and 'FAANG' stocks Alphabet and Apple.

The charts are making a strong case for Tesla heading into earnings

One trader's technical analysis points to big gains ahead for Tesla.

Deutsche Bank Admits That Sometimes It Feels Like It’s Still Living In The Hellscape Of 2015

2017 was a pretty strange year overall, and that held true for the financial services industry. As results have trickled in over the last few weeks, banks have reported that a robust year of market growth has been offset an the industry-wide reckoning with FICC. Taking those two opposing forces into account, factoring in a tax-free 2018, and it’s hard to say that any major really bank has truly disappointed with its 2017 results…well, almost any: Deutsche Bank is still recovering after being hit with billions in fines back in 2015, its chief executive officer John Cryan told CNBC, after the bank posted another year of losses on Friday morning.The German lender reported a net loss of 2.2 billion euros ($2.75 billion) in the fourth quarter of 2017 — worse than the net loss of 1.25 billion eu...

As stocks dive, a Merrill Lynch market gauge with a perfect record just flashed a red warning light

The frantic dash into stocks has hit a boiling point, with Bank of America Merrill Lynch telling clients that it's time to sell.

Here’s what Wall Street analysts thought of Apple’s earnings report

Wall Street reacts to Apple's weaker-than-expected December-quarter iPhone unit sales.

Ex-Citadel Exec. Not Screwing Around

By Paul Elledge [CC BY-SA 4.0], via Wikimedia Commons Citadel Investment Group founder Ken Griffin does not take the non-compete agreements he makes employees sign lightly. In a crowded field, perhaps no one this side of Alan Howard takes them quite as seriously. Daniel Nehren knows this. He worked for Griffin for two whole years—an eternity by Citadel standards—before departing, eventually for Barclays, in May of last year. We say eventually because, of course, Nehren had an eight-month non-compete to wait out, and in case K.G. was thinking of making his former equity execution head the next Misha Malyshev, Nehren’s decided to be as conspicuous in his non-competition as possible. We’re sure there are many, many pictures on his Instagram of him in all sorts of exotic locations with want of...

Stock investors should be rooting for the Eagles, according to the ‘Super Bowl Indicator’

Another Super Bowl win for quarterback Tom Brady and his New England Patriots could throw the stock market for a loss.

Alphabet downgraded on rising competition from Amazon in ads, cloud computing

Stifel lowers its rating for Alphabet shares to hold from buy.