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The Sector Immune to COVID-19

June 9, 2020 admin Comments Off on The Sector Immune to COVID-19

The COVID-19 crisis has shaped our lives forever, impacting how we live, work and communicate.
As Nicholas Vardy details today, it has also given a big boost to the technology sector, which people are now relying on much more heavily.

In recent months, I’ve written about how to invest in a crisis.
And I recalled Baron Rothschild’s advice that you should invest “when there is blood in the streets.”
I also cited Sir John Templeton’s contrarian observation “People are always asking me where is the outlook good, but that’s the wrong question… The right question is: Where is the outlook the most miserable?”

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Hundreds of Thousands of Tiny Buyers Swarm to Insolvency Stocks

June 9, 2020 admin Comments Off on Hundreds of Thousands of Tiny Buyers Swarm to Insolvency Stocks

(Bloomberg) — Just in the last week, 96,000 people on the Robinhood investing app opened a position in Hertz Global Holdings Inc. The number of users holding Whiting Petroleum Corp. grew roughly 10,000 in the last 24 hours.Two things the companies have in common: They’ve filed for bankruptcy protection. And each saw their shares double to start the week.It’s the same thing for Chesapeake Energy, as it prepares a potential filing. In the past, the court process usually wiped out equity shareholders. In this day and age, as small day traders salivate at any opportunity to get rich quick, a …read more […]

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Shareholders of Bankrupt J.C. Penney Get a $250,000 Lifeline

June 9, 2020 admin Comments Off on Shareholders of Bankrupt J.C. Penney Get a $250,000 Lifeline

(Bloomberg) — J.C. Penney Co. shareholders got a helping hand Tuesday from U.S. Bankruptcy Judge David Jones.Jones will order the retailer to pay as much as $250,000 in professional fees to support an informal group of shareholders who have been challenging the bankruptcy, he said in a hearing Tuesday. In exchange, the group of retail investors agreed to nix its attempt to have the whole case thrown out along with its request for status as an official group, which could’ve resulted in huge legal bills for J.C. Penney.Shareholders typically get no recovery in a Chapter 11 bankruptcy, but the legal …read more […]