Was reviewing some old threads, and found in 2005, one Mr. EB used to post the news of the day. Made for good reading. Thought to start a similar thread with a twist - all the current news will be a sequence of posts in this thread. With people commenting on the news as they wish. Makes for a good interactive khichdi.
Re: Business News of the Day Thread
The July 27 WSJ reports that TEVA Pharmaceuticals is acquiring the generic division of Allergan for 40.5 billion dollars. This is about 6.5 times sales. The combined market cap of the companies will exceed that of Eli Lilly.
Question for our readers: Is innovation dead in Big Pharma? Also, on the news, TEVA jumped 16 pct. What is up with that?
Re: Business News of the Day Thread
Gold closed July 31j 2015 at a 5yr low of 1094 per ounce. It set it's high at 1889 Aug 22 2011.
"It looks like gold is in a downswing that's not going to stop anytime soon" said Kristina Hooper of Allianz Global Investors which manages 488 BILLION dollars. Allianz urged clients to dump gold unless they have a long term horizon.
Wow. What use are these pundits when they ask you to bail at multi year lows? Where were they when Gold peaked? And did they urge clients to but when good was at 250 circa 2003?
Numbers from Aug 3 wsj
Re: Business News of the Day Thread
State pension funds that paid greater fees for managing their assets did poorly Co pared to those funds that paid less in fees. Performance reported was net of fees. Aug 3 wsj
Nothing new here.
Apparently some if the high fees were paid for private equity and hedge funds. Looks like they hadn't heard the phrase keep it simple, stupid.
Re: Business News of the Day Thread
With AAPL down 15 pct to 113 from its high of 134 financial institutions downgraded it from buy to hold (I think it was bank of America Merrill lynch). Saw it in finance.yahoo.com earlier.
So what were they doing at 134?