Canadian guru releases portfolio. Sells include major Berkshire bank holding Bank of America. Continue reading...
By Yasin Ebrahim
Before we spend countless hours researching a company, we like to analyze what insiders, hedge funds and billionaire investors think of the stock first. This is a necessary first step in our investment process because our research has shown that the elite investors' consensus returns have been exceptional. In the following paragraphs, we find out […]
Equity markets rallied on Wednesday, lifted by enthusiasm for the European Union's plans for a 750 billion euro ($823 billion) recovery fund, but crude prices slid on concerns about unrest in Hong Kong over Beijing's proposed national security laws. The euro edged higher against the dollar on the European Commission's proposed stimulus plan to bolster economies ravaged by the coronavirus pandemic, which boosted risk appetite and reduced demand for safe-haven bonds and gold.
Yahoo Finance's Alexis Christoforous, Brian Sozzi, and Ethan Wolff-Mann discuss the rise in credit card fraud attempts as consumers are forced to use the online interface amid the coronavirus pandemic.
Whiskey Del Bac from Tucson has a distinctive sense of place thanks to the owner's bold use of mesquite instead of peat to make single malt.
Having regained more than 20% of its value since hitting a low of $18 on March 23, Bank of America’s stock looks quite undervalued at its current level of $22. Our belief stems from the fact that the banking giant’s stock remains about 40% lower than what it …
Firm's largest sales of the 1st quarter Continue reading...
Adventurers can bash monsters and each other. Blizzard Entertainment's upcoming hack-and-slash RPG Diablo IV is still a ways off. Still, even with the scourges of Goatmen and other monsters pillaging and raiding the villages of humanity, it's always good to …
Europe’s biggest bank by assets has joined other major lenders bracing themselves for a wave of bad loans because of the coronavirus pandemic.
Bank of America is the first global commercial bank to sell a corporate bond with the specific purpose of financing the health care industry’s battle with the pandemic.
Great investment opportunities are lonely. History shows us the crowd behaviors to avoid and the investment market circumstances to capitalize on Continue reading...
News articles and tweets denouncing the 5G coronavirus conspiracy theory are being mislabeled.
More public companies keep reporting the PPP loan funds they received. The total initial grants top $1.3 billion.
In the coronavirus pandemic’s financial fallout, Saudi Arabia’s $300 billion sovereign-wealth fund has emerged as one of the world’s biggest bargain hunters, taking minority stakes worth billions of dollars in American corporations.
If you're thinking about putting some money to work in stocks, here are three excellent ways to do it.
Moody's Investors Service, ("Moody's") today withdrew the debt rating on Bank of America Corporation's KRW 40 billion dual currency zero coupon EMTN due 8 April 2050 (XS2153405548) for business reasons. Prior to the withdrawal, the debt was rated in line with the senior unsecured debt class rating at Bank of America Corporation of A2. Moody's has decided to withdraw the rating for its own business reasons.
Thomas Solomon has decided to step down as head of insurance investment banking in the Americas at Bank of America Corp, people familiar with the matter said on Wednesday. Bank of America declined to comment.
“Do not take life too seriously. You will never get out of it alive.” – Elbert Hubbard “How many people here have telekenetic powers? Raise my hand.” – Emo Philips Have you ever noticed that anybody driving slower than you is an idiot, and anyone going faster…
With the use of financial apps skyrocketing and first-time users signing up, financial services incumbents and fintech upstarts alike are optimistic that digital behaviors adopted during crisis will become habits during the recovery and beyond.
Bank of America Corp head of wealth management Andy Sieg, said on Tuesday that the coronavirus pandemic has not meaningfully disrupted business at the wirehouse, though clients are still holding more cash. Speaking at an investor conference, Sieg said cash now represents an average of 13% of client's portfolio's compared to 10% at the end of last year.
The iconic New York Stock Exchange floor is back open for business. Here is what New York Stock Exchange President Stacey Cunningham told Yahoo Finance.
May is right around the corner, and the world's biggest footwear brands are starting the new month/sending off April in style with a diverse slate of drops. There's Air Jordans both classic and new, compelling collaborations, signature hoop shoes and more — b…
(Bloomberg) -- Bank of America Corp. was the first on Wall Street to issue a pandemic bond. It hopes to set a trend.The bank priced a $1 billion bond offering May 14 to fund projects addressing social issues related to Covid-19, the first sale from a U.S. financial institution that explicitly links all proceeds to tackling the virus. Response from investors has been enthusiastic, said Karen Fang, the bank’s global head of sustainable finance.“ESG is not just a bull market luxury,” Fang said in an interview, citing the bank’s own research. “ESG is a bear market necessity.”Corporations, governments, multilateral organizations and development banks have raised a record $108.4 billion of debt this year to alleviate the impacts of the deadly virus, according to data compiled by Bloomberg. Chinese companies have sold most of the so-called pandemic bonds, raising about $48.3 billion.Bank of America’s bond came about in March as the virus spread through the U.S. and much of the country began to shut down. Senior executives, including Vice Chairman Anne Finucane and Chief Operating Officer Tom Montag, were involved in internal discussions on the bond, which took weeks to construct.The pricing for the fixed-to-floating rate notes earmarked for lending to the health care industry was aggressive. The deal priced tighter than the lender’s regular benchmarks, Fang said, and the bonds will yield 1.30 percentage points above Treasuries.Strong PipelineBank of America has raised more than $8 billion through environmentally and socially themed bonds and has a “very strong” pipeline, Fang said. Other virus-related debt includes Pfizer Inc.’s $1.25 billion sustainability bond and USAA Capital Corp.’s $800 million offering to fund projects that may include Covid-19 relief.While the deal makes sense for a lender like Bank of America with a large presence in green and social bond markets, it might not open the floodgates for similar transactions, according to CreditSights analysts.“We’re a little doubtful we’re going to see an imminent increase in ESG-type offerings from the banks,” CreditSights’ chief of ESG and sustainability Josh Olazabal and the head of U.S. financials Jesse Rosenthal, wrote in an email. “It will really come down to the issuer’s internal goals around ESG products and investors.”Still, ESG-focused investors like Nuveen and Eaton Vance Management anticipate that more commercial banks will follow suit. Other lenders that have “the focus and expertise” to originate such loans will seek to replicate Bank of America’s deal, according to Vishal Khanduja, head of investment-grade portfolio management at Eaton Vance.“We expect other sponsors to continue to innovate the structure and provide investable impact opportunities at scale,” Khanduja said Tuesday in an interview.Nuveen, which oversees about $1 trillion in assets, has already had discussions with underwriters from two banks because there is interest in similar deals, according to Stephen Liberatore, head of the responsible fixed-income strategy team.“This was the leader,” Liberatore said of Bank of America’s bond. “Now that others are seeing what’s expected and how it can be done, there’s a template for other banks.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
Occidental Petroleum Corp has been sued by investors who claim they suffered billions of dollars of losses because the heavily indebted company concealed its inability to weather plunging oil prices, after paying $35.7 billion to acquire Anadarko Petroleum Corp. The proposed securities class action was filed late Tuesday in a New York state court in Manhattan on behalf of former Anadarko shareholders who swapped their stock for Occidental shares, and investors who acquired $24.5 billion of Occidental bonds that helped fund the August 2019 merger. Investors said Occidental should have disclosed in its stock and bond registration statements how quadrupling its debt load to $40 billion would leave it "precariously exposed" to falling oil prices, and undermine its ability to boost shale oil production and its common stock dividend.
It's time for the Fed to take a victory lap — and watch tens of billions of annual profits roll in.
By Geoffrey Smith
Berkshire’s top holdings occupy close to 70% of the equity portfolio, with Apple occupying 35% Continue reading...
U.S. companies' borrowings for capital investments fell about 7% in April from a year earlier, the Equipment Leasing and Finance Association (ELFA) said on Tuesday. Washington-based ELFA, which reports economic activity for the nearly $1-trillion equipment finance sector, said credit approvals totaled 71.7% in April, down from 74.2% in March. ELFA's leasing and finance index measures the volume of commercial equipment financed in the United States.
If you dismiss a company without doing the research, you can miss out on interesting businesses like these.
Except for a few downgrades in the camera department, the Mi Note 10 Lite is mostly identical to the standard Mi Note 10. What you need to know Xiaomi has launched a "Lite" variant of the Mi Note 10. The mid-range phone comes with a Snapdragon 730G chips…
According to Warren Buffett, diversification is only needed if you don't know what you're doing.
Guru's top buys and sells Continue reading...
David Marcus, who originally was the Head of Calibra and the Libra Association, will serve as Head of Novi.
Managers of hedge funds and mutual funds are worlds apart on a lot of investing decisions, but do have some overlap. Investors may be able to learn from both.
Risks come in many forms — terrorist attacks, natural disasters and, yes, pandemics. The U.S. will now need new leadership and an overhaul of our risk-management systems.
A pandemic is no time to show off. That is the conclusion of a Bank of America examination into the luxury-goods sector, which finds “understated” items are in and more gaudy items are out.
Solstice Studios has picked up the Graham Moore scripted futuristic thriller Mind Fall and has set French filmmaker Cedric Jimenez to direct. Mind Fall is the second project from Studio 8 and Solstice Studios’ strategic partnership, their most recent movie be…
Berkshire Hathaway CEO Warren Buffett, who will turn 90 years old in August, says he has a successor in mind to someday take over the Nebraska-based company, declaring that the business does not depend on his leadership.