Be in the know. 25 key reads for Wednesday…

  1. Opinion: The Facts Have Changed. The Fed’s Plans Should, Too. (marketwatch)
  2. Google Releases Bard, Its Competitor in the Race to Create A.I. Chatbots (nytimes)
  3. Money-market funds swell to record $5.4 trillion as assets pour in at fastest pace since pandemic after SVB collapse (marketwatch)
  4. America’s most powerful weapon to beat China and Russia in Cold War 2.0 is free trade (marketwatch)
  5. Warren Buffett’s Likely Successor Buys $24.6 Million in Berkshire Stock (barrons)
  6. Jerome Powell Has ‘Failed,’ Should Not Be Fed Chairman, Says Sen. Elizabeth Warren (barrons)
  7. Here’s one for the battered bulls: the second-largest sector in the S&P 500 is stirring to life, says this strategist. (marketwatch)
  8. Canada Shouldn’t Be an Afterthought (barrons)
  9. Federal Reserve Meeting: Rate Hike Likely, But U-Turn Is Near; S&P 500 Gains (investors)
  10. Opinion: ‘Someone needs to tell Jerome Powell that this is not a kill-at-all-costs mission.’ Cut interest rates now to prevent a full-blown banking crisis. (marketwatch)
  11. Fed’s ‘dot plot’ seen diverging from market over future path of interest rates (marketwatch)
  12. Opinion: Bank insider action tells us the battered financial sector is a buy: These 4 regional bank stocks are tempting those in the know. (marketwatch)
  13. Bill Gates says AI is only the second revolutionary tech advancement in his lifetime (marketwatch)
  14. Hedge fund boss Jeff Gundlach shreds Credit Suisse creditors: ‘Put on your big boy pants’ (nypost)
  15. TikTok Reassures Advertisers Over Ban Threat as Some Set Backup Plans (wsj)
  16. Chip Makers Find Out How to Get 25% Investment Tax Credit (wsj)
  17. Google Launches Bard AI Chatbot to Counter ChatGPT (wsj)
  18. What Google Bard Can Do (and What It Can’t) (nytimes)
  19. Fed Caught Between Inflation and Bank Crisis in Crucial Meeting (bloomberg)
  20. 30-Year Mortgage Rate Falls to a Five-Week Low (bloomberg)
  21. Phillips to Auction Last Qing Emperor’s Patek Philippe Watch (bloomberg)
  22. Banks’ AT1 Bonds Climb as Goldman Flags Opportunity to Buy (bloomberg)
  23. Bill Gates Says “The Age Of AI Has Begun” (zerohedge)
  24. Nike beats expectations as sales rise 14% from last year; analysts bullish (streetinsider)
  25. Tencent beats quarterly profit forecasts, helped by cost-saving efforts (scmp)

 

Be in the know. 20 key reads for Tuesday…

  1. US Studies Ways to Guarantee All Bank Deposits If Crisis Expands (bloomberg)
  2. Guy Fieri on His Signature Frosted Tips and Mayoral Ambitions (wsj)
  3. Fund Managers’ Biggest Fear Is Now a Systemic Credit Crunch (bloomberg)
  4. The New Central Bank Dilemma From the Fed to the Philippines (bloomberg)
  5. This Banking Crisis Won’t Wreck the Economy (bloomberg)
  6. Amazon Slashing More Jobs As Layoffs In Big Tech Continue (investors)
  7. Credit Suisse Sets a Frightening Precedent for $250 Billion in Bonds (barrons)
  8. Berkshire Emphasizes Stock Ownership Not Diversity for its Board of Directors (barrons)
  9. The Facts Have Changed. The Fed’s Plans Should, Too. (barrons)
  10. Credit Suisse bondholders blast ‘insane’ UBS takeover: ‘Against the law’ (nypost)
  11. Hedge-fund manager Nelson Peltz says the government should insure all bank deposits — for a price (cnbc)
  12. Dodge resurrects controversial Challenger SRT Demon for final year of V8 muscle cars (cnbc)
  13. Bill Ackman urges the Fed to pause interest-rate increases because the banking crisis is not yet over (businessinsider)
  14. Everything you need to know about UBS’s historic $3 billion deal to rescue rival bank Credit Suisse (businessinsider)
  15. The Fed will either pause or hike interest rates by 25 basis points. What are the pros and cons of each approach? (marketwatch)
  16. China’s Bank Shares Trounce Global Peers Amid Sector Turmoil (bloomberg)
  17. Credit Suisse Collapse Burns Saudi Investors (finance.yahoo)
  18. The Big Read. How the Swiss ‘trinity’ forced UBS to save Credit Suisse (ft)
  19. China gives chipmakers new powers to guide industry recovery (ft)
  20. Elon Musk Responds To Bill Ackman’s Plea To Powell For A Pause Amid Banking Crisis: ‘Fed Needs To Drop Rates By At Least…’ (benzinga)

Be in the know. 12 key reads for Monday…

  1. U.S. lawmakers to examine merits of higher FDIC bank deposit insurance cap (cnbc)
  2. “The market stops panicking when central banks start panicking” (zerohedge)
  3. Elizabeth Warren Slams Powell for Weak Regulation, Oversight of SVB (bloomberg)
  4. UBS To Buy CS For $3 Billion As AT1 Bonds Get Wiped Out In Record Bail-In; Swiss Govt Grants CHF9BN Guarantee; SNB Offers $100 Billion Liquidity Backstop (zerohedge)
  5. The Longer It Takes The Fed To “Go Big”, The Deeper The Damage Will Be, And The Bigger The “Big” Will Be (zerohedge)
  6. Mega-cap Tech is the new Safe Haven (zerohedge)
  7. UBS to Buy Credit Suisse in $3.3 Billion Deal to End Crisis (bloomberg)
  8. Fed and Global Central Banks Move to Boost Dollar Funding (bloomberg)
  9. Warren Says She Favors Increasing FDIC’s Deposit Insurance Cap (bloomberg)
  10. China’s Surprise RRR Cut Puts Focus on Bank Lending Rates (bloomberg)
  11. S. bank deposit outflows, unrelated to Credit Suisse, have stabilized, U.S. official says (reuters)
  12. Credit Suisse’s $17 Billion of Risky Bonds Are Now Worthless (bloomberg)

Be in the know. 15 key reads for Sunday…

  1. China makes surprise rate cut to boost banking liquidity and the economy (cnn)
  2. Billionaire Advice: 17 Stock Ideas And Life Lessons From Value Investor Mario Gabelli (forbes)
  3. Cliff Asness on Quant Value Investing (bloomberg)
  4. Huge Crowds Force Disney World to Make Big Changes (thestreet)
  5. A bifurcated housing market: Average Idaho homeowner sees equity decline by $21K while typical Florida homeowner gained $49K in 2022 (fortune)
  6. Bentley Had Its Best Year Ever in 2022, With Record Profits and Deliveries (robbreport)
  7. This Bonkers 1,000 HP Flying Supercar Soars Like a Jet and Looks Like a Bugatti (robbreport)
  8. What It’s Like to Stay at the Ned Doha, the Luxe Hotel and Members’ Club That Just Debuted in the Middle East (robbreport)
  9. Ferrari, Porsche & BMW To Battle For Racing Supremacy At Le Mans’ 100th Anniversary (maxim)
  10. Where To Eat, Drink & Stay In Istanbul (maxim)
  11. Ideas From Benjamin Graham, The Father Of Value Investing (forbes)
  12. Muscle Is the Cornerstone of Longevity (worth)
  13. Bullish Sign Is Flashing for Some as Stocks Skirt the Precipice (bloomberg)
  14. 2 questions that helped Patagonia’s CEO go from packing boxes for $6 an hour to leading a $3 billion brand (cnbc)
  15. Banks borrow record-breaking $160B from Fed crisis lending programs (foxbusiness)

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)