Investing

Bitcoin has had a stellar year and one of Wall Street’s top strategists thinks it can rise 40 percent more by next year. Tom Lee, co-founder of Fundstrat Global Advisors, established a mid-2018 target of $6,000 on the cryptocurrency. Bitcoin traded at $4,284.14 on Friday, according to Coindesk. For the year, bitcoin has surged nearly
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Blackstone’s Byron Wien, who’s been working on Wall Street for more than a half-century, thinks the recent stock market weakness on diminishing prospects for President Donald Trump’s business-friendly agenda is nothing for investors to panic about. “I’m worried he won’t get a lot of his program through, but offsetting that is the economy doing better
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Billionaire hedge fund manager Bill Ackman revealed he bought protection against a stock market drop due to rising geopolitical risk. Ackman said the firm took a “small position” in out of the money call options on a volatility index during Pershing Square Capital Management’s second-quarter conference call Wednesday. This hedge “will protect against stock market
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Finally, Cramer went over Home Depot’s post-earnings conference call, during which executives fielded analyst questions that painted the retailer as one of Amazon’s more vulnerable rivals. After delivering itsbest quarterly report ever, Home Depot’s stock was eviscerated from that conference call, which Cramer said left him outraged and disheartened. “The incredible thing is that even
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Warren Buffett’s Berkshire Hathaway invested more money in financial stocks. Berkshire Hathaway reported a 17.5 million share stake in Synchrony Financial in its June quarter 13F filing revealed Monday. The position is worth nearly $520 million using Monday’s closing stock price. Synchrony shares rose over 4 percent midday Tuesday after the news. Synchrony is the
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Apple has fallen 5 percent from its recent high, and one trader expects more volatility from the stock when it reports earnings Tuesday afternoon. The options market is currently implying a 3 percent move for the stock in either direction by Friday’s close. But given last week’s sell-off in tech and the sector’s failure to
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