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Chipmaker AMD (NASDAQ: AMD) has unveiled a range of innovative AI solutions spanning from data centers to personal computers. The AMD Instinct MI300 Series features data center AI accelerators, while the ROCm 6 open software stack introduces new features supporting Large Language Models (LLMs). Additionally, the Ryzen 8040 Series processors come equipped with Ryzen AI capabilities.
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Masayoshi Son “Humbled” After $8.9 Billion Loss for Vision Fund
Masayoshi Son is reportedly “humbled” after SoftBank reported its first quarterly loss in over a decade. The CEO took hits from all directions after the fund reported an $8.9 billion hit to its Vision Fund. Simply put: WeWork is to blame for the loss.
AstraZeneca Launches $1 Billion Fund with CICC (with an AI Twist)
AstraZeneca, the British pharma giant, will launch a $1 billion fund with China International Capital Corporation (CICC).
NBER: Beware Bond Mutual Funds and Their Reported Holdings
The National Bureau of Economic Research issued a stark warning about bond mutual funds and risk. In a new report, NBER says that at least 30% of bond mutual funds hold riskier assets than what Morningstar reports. The agency released this warning in a report titled “Don’t Take Their Word For It: The Misclassification of Bond Mutual Funds.”
Inmarsat Rejects Oaktree’s Push to Delay Court Hearing
Oaktree Capital had requested a delay to a takeover court hearing around the takeover of Inmarsat. The British satellite company, however, rejected the delay for the November 12 meeting. Oaktree wants greater insight into the status of Inmarsat’s U.S. spectrum holdings.
HCM Capital to Launch Second, Larger Venture Fund
HCM Capital is reportedly exploring a new fund to invest in early tech startups. HCM Capital receives funding and support from Foxconn Technology Group. A report in Reuters notes that the group is looking to invest in Silicon Valley and other tech hubs around the globe.
An Ares Management Earnings Recap
Ares Management shows strong revenue gains. Ares Management earnings arrived last week. Revenue grew by 94% to $466.5 million year-over-year while the reported earnings of $.23 a share represented a 153% increase over last year. Assets under management rose 15% to $144.3 billion. The Ares Management earnings report also showed a 14% increase in the…
CEM Benchmarking: How REITs Match Up Against Other Investments
In October, CEM Benchmarketing compiled a study for the National Association of Real Estate Investment Trusts (NAREIT).
The study is called “Asset Allocation and Fund Performance of Defined Benefit Pension Funds in the United States, 1998-2017.”
Ardevora Asset Management to Shut Its Trading Desk
Ardevora Asset Management will shutter its desk and outsource its trading and execution to Northern Trust. The TRADE first reported the development on Friday.
Brown Advisory Launches Global Leaders Sustainable Fund
Brown Advisory has announced the launch of the Global Leaders Sustainable Fund under its Irish domiciled UCITS umbrella. The $76 billion company said that the new UCITS Fund adds environmental, social and governance (ESG) screens to its top quartile performing Global Leaders Strategy. According to a press release, the addition of the ESG screens came in response to client demand.
CPPIB to Buy Pattern Energy Group for $2.63 Billion
The Canada Pension Plan Investment Board (CPPIB) announced plans to buy Pattern Energy Group for $2.63 billion. CPPIB announced details of the deal for the renewable energy giant on Monday. Shareholders will receive $26.75 for the stock. That figure is actually lower than the price the stock traded for earlier in the day. In the final hour of trading on Monday, PEGI stock was off 2.5% at $27.03 per share.
Leon Cooperman: Stop Vilifying Billionaires
Hedge fund manager tears up while discussing the political divide Hedge fund manager Leon Cooperman teared up on CNBC Monday while discussing his spat with Elizabeth Warren. The U.S. Senator and Democratic candidate called Cooperman out recently as part of her broader vilification of billionaires. Cooperman recently sent a letter to Warren discussing his career…
Berkshire Hathaway Beats Earnings Despite Global Economic Woes
Berkshire Hathaway reported earnings on Saturday (more on why in a moment). Warren Buffett’s firm announced that profits topped Wall Street expectations thanks to resilient consumer spending. The firm’s success came despite ongoing trade disputes between the U.S. and China and threats of new tariffs.
Simplifya Exec John Vardaman: Cannabis and Banking Bring Transparency
Simplifya executive John Vardaman says that the Federal status of cannabis laws make it one of the most transparent industries for banking.
Jeremy Corbyn Takes Shot at Crispin Odey
Jeremy Corbyn has launched his campaign for Prime Minister ahead of a December 12 snap election. The British Labour leader used his campaign launch to take shots at Crispin Odey. Corbyn accused the head of Odey Asset Management of being one of many “representatives of a rigged system.”
ABI Research: U.S. Represents 52.3% of All Artificial Intelligence Investment
ABI Research said this week that the United States is the top market for investment in artificial intelligence. According to the study, the U.S. represented 52.3% of all AI investment in 2018. That figure signaled that the U.S. has replaced China as the global leader.
Breaking Down Ares Management and Its Earnings Report
Ares Management Corporation reported earning this week. Revenue grew by 94% to $466.5 million year-over-year. Earnings per share came in at $0.23. That figure represented a 153% increase over last year. Assets under management rose 15% to $144.3 billion. Ares also announced a 14% increase in the quarterly dividend. The shares now yield more than 4%.
Key Takeaways from Investor Day at Brookfield Asset Management
Brookfield Asset Management held its Investor Day recently. Management made a few things very clear.
First, if interest rates remain low, investors will have no alternative except alternative investments.
Francesco Trapani to Launch Bluebell Active Equity Fund
Francesco Trapani will launch a hedge fund alongside two advisors of Elliott Management. The former head of Italian jeweler Bulgari SpA is partnering with Marco Taricco and Giuseppe Bivona to start the Bluebell Active Equity Fund. The fund will launch Nov. 11 with roughly 50 million euros ($55.7 million) under management.
CBL Properties Settles with Activist Investor
CBL Properties stock rallied nearly 10% this morning after it reached a settlement with Exeter Capital investors. The real estate giant has added Exeter president Michael Ashner and Carolyn Tiffany to its board of directors.
Leon Cooperman Writes Scathing Letter to Senator Elizabeth Warren
Leon Cooperman rips Elizabeth Warren in new letter for ‘soak-the-rich positions,’ and treating him like ‘an ungrateful child’
Nelson Peltz Sells 2.1 Million Shares of P&G Stock
Activist investor Nelson Peltz has sold about $267 million in Proctor & Gamble stock over three days. The CEO of the Trian Fund dropped about 2.1 million shares.
Carlyle Group Reports Third Quarter Earnings
CG stock dipped 0.87% on Thursday Carlyle Group third-quarter earnings arrived on Thursday. In a statement, the global investment giant released its unaudited results for the period ending September 30, 2019. U.S. GAAP results for Q3 2019 included income before provision for income taxes of $261 million. The firm said that net income attributable to Carlyle Group…
Alan Howard Steps Down from His Post
Alan Howard, the founder of Brevan Howard Asset Management, is stepping down from his role as CEO. According to reports, Aron Landy, the firm’s chief risk officer, will assume the CEO role.
Activist Bill Ackman: WeWork is Worth “Zero”
Activist Bill Ackman thinks that WeWork might be worthless. During a talk at the Robin Hood investor conference, the hedge fund manager raised concerns about the work-sharing firm’s balance sheet.