Why Did Bill Ackman Unload His Berkshire Stake?
A self-proclaimed acolyte of Warren Buffett, the hedgie isn’t loudly applauding the Oracle of Omaha like before.
Market Moves
Stock Market’s Rise Doesn’t Jibe with Overvalued P/E, Stovall Warns
CFRA sage likens investors to an ‘irresponsible teenager’ borrowing against dubious future allowances.
An Optimistic Jamie Dimon Sees a 3rd Quarter Recovery
JPM chief points to massive Washington relief efforts as the economy’s savior.
Rhode Island Pension Plan Holds Down Losses Thanks to Treasuries, Algorithms
Although the first quarter was a wipe-out for plans, a surge in a special-strategy segment of the portfolio limited the damage in the smallest state.
Enjoying the Post-Bear Rally? A Correction Is Overdue, LPL Strategist Says
The bounce back from the February-March slide is getting old, Ryan Detrick points out.
Stocks Now Are the Spittin’ Image of 2009, Morgan Stanley Strategist Says
And ’09 was the rebound year from the financial crisis bear market, Michael Wilson notes, meaning we’re in for a bullish stretch.
Forget about Inflation, Deflation Is the Real Threat, BofA Says
The massive Washington stimulus raises fears of spiraling prices. But those anxieties are off-base, bank economist Harris contends.
Market Is 2nd Most Overvalued, after 1999’s, David Tepper Says
Comparison to dot-com bubble year helps send current stocks down for the day.
Rogers, Gabelli, Miller Tout Value Investing, With an Exception
Devotees of bargain buys have doubts about legacy retail’s viability.
Pension Demands Put Local Governments in a Jam, Moody’s Says
With virus-driven costs mounting, cities’ and towns’ financial outlook shifts to negative from neutral, agency rules.
Re-Opening the Economy Won’t Do Stocks Much Good, Says Yale Expert
Portent: Chinese consumers remain fearful about going out after lockdown lifted, ex-Morgan Stanley honcho Roach warns.
Sam Zell: Nice Distressed Real Estate Bargains Are Ahead
The Grave Dancer says virus shock will scar Americans’ psyches, but should benefit bargain hunters like him.
Why Not to Sell in May and Go Away
The summer season has been pretty good to stocks over the past eight years, LPL notes.
New Jersey Likely to Cut Pension Contributions, S&P Global Says
The credit ratings agency downgraded the state one notch, to A-, and gave it a negative outlook.
Wells Fargo Predicts 10-Year T-Note Will Rise Above 1%
Now at a 0.63% yield, the benchmark bond should move up due to better economic and virus news, says bank’s strategist.