A top UK tax and immigration advisor, David Lesperance, helps high-net-worth individuals manage their money. However, the looming Labour tax hikes resulted in eight of his super-wealthy clients approaching him for help leaving the UK. Lesperance reportedly said the potential increases to capital gains, inheritance tax rates, and a new “exit levy” for wealthy people … Read more
Billionaire investors and renowned hedge fund managers, such as Pershing Square Capital Management’s Bill Ackman, Citadel’s Ken Griffin, and Susquehanna International Group co-founder Jeff Yass, bought millions of Nike shares in Q2 despite the company struggling to retain the top market spot due to headwinds on multiple fronts. Shares are down over 20% year-to-date and … Read more
Beauty brands often showcase resilience during market downturns. When budgets become strained, especially during recessions, people refuse to give up on smaller luxuries like beauty and skincare products. The trend of splurging money on beauty and affordable luxuries when cash is tight and the economy is weak was theorised as the “lipstick index.” However, the … Read more
Conservative comedian Alex Strenger was escorted away after he asked Democratic Congresswoman Nancy Pelosi which stock to buy as she signed copies of her new book, “The Art of Power,” at the Texas Tribune Festival in Austin on September 8. Strenger posed as a Democrat, wearing a face mask and a Bernie Sanders baseball cap, … Read more
Data from Quiver Quantitative suggests that if you had followed Pennsylvania Representative Dan Meuser’s investment trades since August 2019, your portfolio would have generated 512% returns to date. He is among several Congress members, like Former House Speaker Nancy Pelosi and Democratic Senator Sheldon Whitehouse of Rhode Island, who made triple-digit returns over the years. … Read more
The Cboe Volatility Index (VIX) jumped to a three-month high of 18.46 yesterday as the Q2 earnings season began with lacklustre reports from Tesla and Alphabet, triggering a sell-off in the US stock market. The VIX, or the fear gauge, measures the demand for protection against stock fluctuations. The S&P 500 dropped 2.3%, while the … Read more
JPMorgan Asset Management strategist Michael Cembalest had previously predicted that President Joe Biden would drop out from this year’s presidential race in his list of “top 10 possible surprises for 2024” published in the company’s Jan. 1 “Eye on the Market Outlook” report. “President Biden withdraws sometime between Super Tuesday and the November election, citing … Read more
Warren Buffett’s time-tested stock market valuation indicator reached an all-time high of 200% last week, surpassing a peak of 197% in November 2021. This implies that US stocks may be extremely overvalued. Shortly after the “Buffett Indicator” peaked in November 2021, the stock market entered a bear market. The indicator divides the total market capitalisation … Read more
According to a Goldman Sachs note this week, Nvidia is prepared to silence critics when it announces Q2 earnings results next month. The outlook emerged after Goldman Sachs met with Nvidia CFO Colette Kress. There are growing concerns that Nvidia’s customers’ profits are insignificant compared to the billions of dollars spent on AI chips. “End-user … Read more
Wedbush Securities tech analyst Dan Ives has long maintained that today’s tech revolution is unlike anything seen since the 1990s despite the industry facing a slump in 2022. However, the worst year for US stocks since 2008 didn’t change Ives’ optimistic outlook on the tech industry. “The bull market was under the covers; it just … Read more
