Finance

Broad global economic expansion is making assets expensive, so forget investing passively, an investment manager told CNBC on Thursday. Instead, he recommend considering niche growth areas like avocados. “Be very specific about what you do. Look for idiosyncratic, value and unusual niches rather than broad assets and broadly passive allocation,” said Stephen Diggle, founder of
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Investors are putting too much attention on Square’s bitcoin ambitions, Citron Research’s Andrew Left told CNBC’s “Fast Money” on Wednesday. The well-known short-seller was on to talk about Square, cryptocurrencies and Alibaba, the Chinese e-commerce giant. Earlier this week, Left tweeted that “WallSt. drunk on Bitcoin nonsense.” He put a short-term $30 price target on
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Fed officials did note some improvements in the economy. In particular, the statement pointed out that “business fixed investment continued to grow strongly.” In March, the committee said the metric had moderated” from a strong fourth-quarter. In describing risks to their economic forecasts, which are “roughly balanced,” officials changed the outlook from the “near term”
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The ecosystem around bitcoin is still changing, but U.S. Commodity Futures Trading Commission Chairman J. Christopher Giancarlo said the popular cryptocurrency is part currency, part security and part digital coin. “Bitcoin and a lot of its other virtual currency counterparts really have elements of all of the different asset classes, whether they’re meeting payment, whether
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Damaging revelations of misconduct at Australia’s largest listed money manager, AMP, may take years to fix, according to Morningstar. “It’s going to be a rough, rocky ride for the next six months, twelve months, probably even longer for investors in AMP,” Morningstar Analyst David Ellis told CNBC’s “Street Signs.” Catherine Brenner resigned Monday from her
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China’s securities regulator has released new guidelines for foreign investment in Chinese security joint ventures in which it eased some restrictions and launched an application process for more foreign ownership. The consultation period for the new rules that began in March is now over and the final regulations have been officially released for immediate implementation,
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“Japan’s economy is expected to continue expanding moderately,” the BOJ said in the quarterly report, sticking to its optimistic view on growth. “The momentum for achieving our price target is maintained, but lacks steam,” it said. Financial markets are on the look-out for what BOJ Governor Haruhiko Kuroda says in his post-meeting briefing on the
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A group of international tech firms and venture capitalists injected almost £1 billion ($1.4 billion) into the U.K.’s artificial intelligence (AI) industry on Thursday. The deal was backed by Japanese venture capital firm Global Brain, Canadian venture capital firm Chrysalix, U.K. automaker Rolls-Royce, the British government and other investors. The investment will be used to
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Check out the companies making headlines after the bell: Shares of Facebook surged 7 percent after hours. The social networking service’s earnings and revenues both surpassed expectations. Daily and monthly active users bounced back. Average revenue per user also increased this quarter, surprising investors. AT&T stock dropped more than 4 percent post-market. The telecommunications company
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U.S. President Donald Trump‘s nominee for Wall Street regulator Comptroller of the Currency bought financial stocks until he took office in November, according to financial disclosure documents filed with the Office of Government Ethics. While not illegal, the trading activity by Joseph Otting’s money manager could violate the spirit of ethics rules designed to prevent
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Bitcoin rose to its highest level in more than a month as the broader U.S. financial markets sold off Tuesday. The digital currency was trading near $9,436 as of 4:21 p.m. ET, and has jumped nearly 20 percent in the past week, according to data from Coindesk. Bitcoin is coming off of its worst quarter
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