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Uber had the worst first-day dollar loss ever of any US IPO

Uber started trading on Friday in an initial public offering that valued the company at $75.5 billion. By the end of day Friday, the stock was trading down 6.7% off the $45 a share, where the company had priced on Thursday night. With a cumulative loss of $655 million, it’s the worst first-day dollar loss…



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These are the cannabis companies the manager of Evolve’s U.S. Marijuana ETF is betting on

Elliot Johnson has heard countless stories of cannabis investors who bought into Canadian companies such as Canopy Growth Corp. early on and rode the green rush to staggering returns.Since the Trudeau government first tabled a bill to legalize recreational cannabis in April 2017, Canopy’s share price has skyrocketed, earning patient investors, who held on through…


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MarketAxess just released a key tool for improving how fixed-income ETFs are built, and it could lead to further automation in the market

Chris Concannon, MarketAxess president and COO MarketAxess MarketAxess, the largest electronic marketplace for US corporate bonds, has created a set of indexes to help find the most liquid bonds across sectors. The tools are aimed at helping ETF creators build products composed of more liquid bonds, thus allowing them to trade more efficiently, Chris Concannon,…


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A stock picker who’s dominating 92% of his peers breaks down his market-beating strategy — and reveals 5 stocks he loves, even as earnings growth dries up

The AB Concentrated Growth Fund, overseen by Jim Tierney, has outperformed its Lipper category on an annualized basis during his five years as its chief investment officer. His concentrated strategy requires that only about 15-20 stocks are in the portfolio at any given time. In an interview with Business Insider, he detailed the numerical and…


Who’s afraid of the inverted yield curve? Canadian assets are soaring

Who’s afraid of the inverted yield curve? Canadian assets are soaring

Canada’s inverted yield curve may be flashing recession signs, but it hasn’t prevented investors from enjoying some of the best quarterly returns in years.The plunging bond yields boosted gains on government and corporate debt, with an aggregate index of Canadian bonds in U.S. dollars returning 5.4 per cent in the first quarter, compared with a…



Local investors stick with Facebook despite global storm

Local investors stick with Facebook despite global storm

Asset management giants Vanguard, Fidelity and BlackRock are the social network’s three biggest investors globally.Other Australian fund managers with smaller positions in Facebook said they preferred to speak anonymously as they did not wish to seem insensitive to those affected by the horrific events in New Zealand last week.”There absolutely needs to be greater regulatory…


Wake-up call for investors facing lower returns in Labor franking plan

Wake-up call for investors facing lower returns in Labor franking plan

Under Australia’s system of dividend imputation, shareholders receive franking credits to account for tax paid at the corporate level, which in most cases is 30 per cent. Credits can be used to offset tax owed by the shareholder.For people who pay little or no tax (such as superannuation funds and retirees), excess franking credits are…


Elon Musk Should be Forced Out as CEO of Tesla: Jim Cramer

Elon Musk Should be Forced Out as CEO of Tesla: Jim Cramer

Billionaire Elon Musk should be removed as Tesla CEO because he had the audacity to criticize the Securities and Exchange Commission. That’s the opinion of CNBC host Jim Cramer, who apparently doesn’t believe in free speech.“This guy’s going to attack the SEC? How about removing him? The guy just attacks the SEC as if it’s funny.…