General World News

From the investing club at Notre Dame to a hedge fund managing millions: Here’s how two 20-somethings are defying traditional stock-market logic in order to crush peers

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Dan McMurtrie and Alex Draime, co-founders of Tyro Partners, knew they wanted to start a hedge fund immediately after graduating from Notre Dame. Since inception in 2015, Tyro Partners has trounced the S&P 500’s performance, garnering an 82.8% return with a concentrated, long-short, value-centric approach to investing. The duo focus on large secular trends, and […]

General World News

We took a look at Clover Health’s 2019 financial results. They show losses deepening as the company took on more members in the red-hot Medicare Advantage market.

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We just got a look at the 2019 financial results of Clover Health, a health-insurance startup that’s valued at $1.2 billion. Clover lost $67.4 million in 2019, a deeper loss than it posted in 2018 when it lost $40.9 million, according to state insurance filings reviewed by Business Insider. Clover added 10,000 new members by […]

General World News

Another VP flees Uber amid a spate of high-level departures (UBER)

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A top engineering manager at Uber departed the company recently, insiders tell Business Insider. Matthew Mengerink, vice president of core infrastructure engineering, has been replaced on an interim basis by Facebook veteran Sumanth Sukamar, a representative said. Other VPs who have left in recent months include those in charge of Uber Eats and New Mobility […]

General World News

Furious Robinhood users are slamming the commission-free trading service, which has been partially offline for hours as the market rebounds from coronavirus dip

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Robinhood, the trading app popular with millennials, experienced a major outage on Monday that locked iOS, Android, and web users out of trading for several hours. The outage came just as the market rebounded from one of the worst weeks since the financial crisis. Robinhood users are furious — and some are demanding the company […]

General World News

Why a coronavirus-driven recession would be a unique beast — and why the normal playbook might not work

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The ongoing coronavirus outbreak could result in a dangerous and unique type of global economic recession. The outbreak has already crippled spending activity in China and prompted widespread factory shutdowns, harming both supply and demand in the economic superpower — and infecting economic operations worldwide. Central banks are normally well-positioned to boost demand through rate […]

General World News

Jack Welch, the former CEO of General Electric who grew the company’s stock price by 4,000%, has died at the age of 84

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Jack Welch, the American businessman and former CEO of General Electric, has died at the age of 84. Under his 21-year-long leadership at GE, the company’s stock price increased by 4,000% and revenues increased from $25 billion to $130 billion. Shortly before his death, Welch was estimated to be worth $720 million, according to the […]

General World News

A key gauge of China’s economy plummeted to its weakest since 2004 — and the entire world is on notice

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China’s manufacturing purchasing managers index fell to 35.7 in February, the lowest since the survey began in 2004, according to data released by the National Bureau of Statistics on Saturday. The dismal number comes amid the coronavirus outbreak, which has slowed economic activity in China and disrupted supply chains. Now, the entire world is on […]

General World News

US factory activity slows as coronavirus slams global supply chains

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Key measures of US manufacturing activity in the US fell in February as a novel coronavirus spread outside of China to more than four dozen countries. The outbreak has disrupted global supply chains and raised broader concerns about global growth. “Coronavirus-related supply chain issues threaten to constrain production in coming months,” said Chris Williamson, the […]

General World News

The coronavirus outbreak is the biggest threat to the global economy since the financial crisis and could halve growth in 2020, OECD warns

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The OECD has warned that the global economy is facing its biggest threat since the financial crisis. Global growth is expected to fall as low as 1.5% this year, halving the OECD’s previous 2020 projection from last November of 3%. Visit Business Insider’s homepage for more stories. The world economy is in its most “precarious […]

General World News

More than 40 current and former Bloomberg LP employees reveal the company’s abusive ‘trading floor’ culture, where Mike Bloomberg and his colleagues allegedly called women ‘SFUs’ for ‘short fat and ugly,’ and women complained about a senior newsroom leader’s unwanted massages for years.

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Mike Bloomberg insisted from the presidential debate stage that wrongdoers at his company would be “gone that day.” But at least one senior Bloomberg News editor accused of misconduct remained in his job long after women raised internal complaints, a Business Insider investigation has found. More than a dozen former Bloomberg News insiders told Business […]

General World News

American Express employees strong-armed small businesses to boost sales, according to former customers and employees

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American Express employees misled and coerced scores of small-business owners into signing up for cards, according to a Wall Street Journal report. Former and current employees said that AmEx employees sometimes conducted credit checks and issued cards without customers’ consent. American Express cards are often recommended for small business owners looking for travel benefits or […]

General World News

One Wall Street expert warns the market’s coronavirus-driven meltdown could soon confirm a recession is looming — and explains why two-thirds of the damage is already done

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Recession fears returned to Wall Street last week as the novel coronavirus spread to more countries and changed the profit outlooks of multiple companies. Lori Calvasina, RBC Capital Markets’ chief US equity strategist, examined what stock sell-offs have historically signaled about the economy based on their severity. Click here for more BI Prime stories. It […]

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We got a look at billionaire investor Seth Klarman’s super-rare book that sells for thousands. Here are the predictions he nailed, and where he missed.

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Billionaire Baupost founder Seth Klarman has been one of the most-followed voices in investing for years. His 1991 book, “Margin of Safety: Risk-Averse Value Investing Strategies for the Thoughtful Investor,” is considered by many to be the seminal text on value investing. It is out of print, and first editions of the book sell online […]

General World News

An Ivy League professor who nailed the financial crisis says another ‘colossal disaster’ is on the way — and warns of a 50% market crash

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Dave Collum, professor of organic chemistry at Cornell University, was able to sidestep the financial crisis after he noticed a calamity brewing in subprime mortgages as early as 2002. Today, he sees vast corporate excesses, massive debt loads, and extremely exuberant valuations as cause for concern. Collum warns of a 50% stock crash that would […]

General World News

These are the winning strategies for AI in banking

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Artificial intelligence (AI) applications are estimated to save banks $447 billion by 2023, and front- and middle-office AI improvements could represent more than 90% of these savings. Leveraging AI tools like chatbots, voice assistants, and personalized insights can transform the customer experience by enabling frictionless, 24/7 interactions. Additionally, in middle-office banking, AI can be used […]