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Billionaire Seth Klarman Pulls the Trigger on These 3 Value Stocks

While value investing hasn’t necessarily been the decade’s most beloved strategy, no one is a bigger proponent than billionaire Seth Klarman. The tactic, which has been a favorite of fellow Wall Street gurus like Warren Buffet and Benjamin Graham, involves seeking out stocks that appear cheap when compared to their peers based on a price-to-earnings basis. For quite some time, investors have been shying away from the strategy as the Russell 1000 Growth Index has outperformed the Russell 1000 Value Index since 2007.Even though the billionaire’s $29 billion hedge fund, Baupost Group, returned significantly less than the broader market in …read more […]

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OPEC+ Fails to Reach Deal as Russia Refuses Deeper Oil Cuts

(Bloomberg) — OPEC+ failed to reach a deal, sending oil prices plunging as Russia refused to bend to Saudi Arabia’s push for deeper production cuts, delegates said.The collapse of talks in Vienna on Friday brings double jeopardy for the oil market, where prices are already at the lowest level in more than two years. Not only will the cartel be unable to compensate for the slump in demand due to the coronavirus, but the group’s existing 2.1 million-barrel-a day cut won’t continue beyond the end of this month.It’s the worst case scenario for the Organization of Petroleum Exporting Countries, which …read more […]

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India gold discounts at widest in five months as prices surge

BENGALURU/MUMBAI (Reuters) – A price rally to record highs subdued physical gold purchases in India this week, driving bullion dealers to offer deeper discounts, while buying interest was minimal in top-consumer China and Hong Kong. Dealers in India offered a discount of up to $25 an ounce to official domestic prices, the most since late September, and up from last week’s $14 discount. …read more […]

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OPEC fails to secure deal with non-OPEC on oil cuts – OPEC sources

OPEC has failed to secure a deal with Russia and other non-OPEC producers on its plans for big, additional oil production cuts, two OPEC sources said on Friday at talks between ministers from the informal alliance known as OPEC+. The sources were speaking after ministers from Saudi Arabia, Russia and other oil producing states gathered at OPEC’s Vienna headquarters and delayed a formal meeting for hours as they tried to find a compromise. OPEC had proposed cuts of 1.5 million barrels per day (bpd) in addition to cuts already in place, a move Russia resisted. …read more […]

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Cases Surpass 100,000; Pompeo Hits Out at China: Virus Update

(Bloomberg) — The number of coronavirus cases globally exceeded 100,000 after more infections were reported in Europe and Iran revealed another spike. U.S. Secretary of State Mike Pompeo hit out at China, saying it was frustrating to work with the Communist Party.The rally in bonds gathered steam. Thirty-year Treasury yields plunged below 1.5% for the first time and yields on the 10-year fell to a record. European stocks hit a fresh low for the year and U.S. futures slumped, pointing to another day of losses.Key Developments:Sovereign bond yield collapse shows world in crisis modeSenior EU diplomats’ meeting canceled in BrusselsBofA …read more […]

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DoorDash IPO Confidentially Filed with SEC

A DoorDash IPO appears to be on the horizon. Investors are eager to see this unicorn hit the market. The stock market recently saw some of its biggest losses. And an IPO can test the market’s health.
Food delivery services aren’t new, but they are increasing in popularity. And now could be one of the best times for DoorDash to go public. Here’s what we know…
DoorDash IPO: The Company

DoorDash is a technology company. It provides food-delivery services. Through its app, customers order from local restaurants and fast-food chains. Drivers then deliver it to their door. It’s a gig economy company, meaning …read more […]

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Tesla wins approval to sell longer-range China-made Model 3 vehicles

Tesla Inc has secured Chinese government approval to sell longer-range China-made model 3 vehicles in China, the Ministry of Industry and Information Technology said on Friday. The vehicles will have a driving range of more than 600 kilometers before they need to be recharged, the ministry said in a statement, while the current China-made Model 3 has a standard driving range of more than 400 kilometers. Tesla started delivering cars in December from its $2 billion factory in Shanghai. …read more […]