Be in the know. 20 key reads for Saturday…

  1. Alibaba Group Holding Ltd.’s American depository receipts, for example, recently traded at about 9.6 times expected earnings over the next 12 months. That compares with a valuation that approached 30 times earnings in 2019 and 2020. The S&P 500 has a forward multiple of about 17.5. “I think history has demonstrated time and again that stocks can feel uninvestable today but turn out to be great investments going forward.” (wsj)
  2. Why Bank Carnage in the West May Boost China’s Appeal (bloomberg)
  3. Spinoffs usually outperform their parent companies, Goldman Sachs research finds (marketwatch)
  4. Goldman Strategists See More US Spinoffs With Companies Squeezed (bloomberg)
  5. Banks Survived Another Week—and the Biggest Ones Look Like Winners (barrons)
  6. The Fed Gets a Dose of Its Own Medicine (barrons)
  7. Seagen, Newell Brands See Activist Action (barrons)
  8. The Best Advice Warren Buffett Gave to Amex’s CEO (barrons)
  9. Banking Emergency? JPMorgan Comes to the Rescue Again. (barrons)
  10. Why Wall Street Analysts Missed the Banking Turmoil (barrons)
  11. Tumbling Bank Stocks Raise Deposit Risks, and Yield a Few Bargains (barrons)
  12. The News on Banks Has Been Bad. Some Investors See Opportunity. (barrons)
  13. Berkshire’s Warren Buffett Shows Bank CEOs How They Should Have Managed Risk (barrons)
  14. This Bond Yield Fell to a Key Level. What it Means for Stocks. (barrons)
  15. American Express CEO Says the Business Is ‘Firing on All Cylinders’ (barrons)
  16. 10 Undervalued Quality Healthcare Stocks (morningstar)
  17. Chinese Developer Evergrande Nears Landmark Restructuring Deal (wsj)
  18. Billionaire David Tepper Bought SVB Financial Bonds, FT Says (bloomberg)
  19. Ferrari Unveils Its First Soft-Top Front-Engine Model Since 1969 (bloomberg)
  20. Nobel economist Paul Krugman says the Silicon Valley Bank collapse has led to ‘apocalyptic rhetoric’ in markets, but almost none of it is true (businessinsider)