Crypto News 

Wall Street’s dismissal of bitcoin is becoming harder

“In a year when the price of bitcoin has risen almost fivefold to beyond $5,500, there are signs of tentative interest from mainstream finance” writes unknown author for cnbc.com. The finance chiefs also argued at a conference in Washington that the only real value in bitcoin is as a tool for criminals and money launderers.Regulators round the world are also taking a harder line over cryptocurrencies, a point underlined last week when Jamie Dimon and Larry Fink said governments would crush bitcoin before long.Kyle Bass, a well-followed hedge fund manager…

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Markets News 

Fund managers bet on rising interest rates but not on tax-cut boost for stocks

“Global fund managers are making big bets on higher interest rates, but they are not expecting U.S. tax reform to bring significant gains to the stock market or other risk assets” writes Boston Globe for cnbc.com. According to the monthly Bank of America Merrill Lynch survey, global fund managers are rotating into banks and Japan and out of utilities, bonds and emerging markets.According to the survey, 68 percent of the global fund managers expect to see U.S. tax cuts in 2018 but they do not see a big impact on…

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Markets News 

Market-beating value investor Bill Nygren on why he’s bullish on Netflix, General Electric

“General Electric shares are down 27 percent year to date through midday Tuesday versus the S&P 500’s 14 percent return” writes Tae Kim for cnbc.com. The value investor explained he is bullish on Netflix shares even at a seemingly high price-to-earnings valuation multiple because the company has built a strong competitive position.General Electric “within a couple years should be able to earn in the mid $1s [earnings per share] and sell at a premium to the market multiple,” he said.Bill Nyrgen shared his market views and top stock ideas in…

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News 

TD Ameritrade Says Goodbye to Commission-Free Vanguard ETFs

“TD Ameritrade touts nearly 300 funds on the new commission-free list” reports etfdailynews.com. They also dropped Morningstar as the advisor that selects the commission-free list, giving in-house management more control over which funds make the cut.Headlining that list is a lineup of broad-based “portfolio” funds from State Street (the SPDR brand) that have extremely minimal expenses.But let’s be realistic, there are probably 100 good funds and 200 that would make my “never trade” list. Source: etfdailynews.com Share This:

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Crypto News 

Cathie Wood Claims We Will See an Approved Bitcoin ETF Once Regulation Is in Place

“However, she is confident we will see an approved Bitcoin fund before an ETF. That is a rather interesting statement, to say the very least” writes Jp Buntinx for newsbtc.com. The chances of such a fund getting approved before ETF approval makes a lot of sense.A closed-end fund before a Bitcoin ETF sounds far more logical, on paper. Source: newsbtc.com Share This:

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Markets News 

‘A huge risk of contagion’: Everything you need to know about ETFs — the hot investment area that some think will cause the next financial crisis

“In 2017, ETFs exist for virtually every imaginable asset class, with investment firms selling ETFs in everything from Bunds to Bitcoin” writes Will Martin for businessinsider.com. “In reality,” Deutsche Bank’s argument goes, “ETFs and ETPs have not yet been fully tested in a sustained bear market.Some believe that ETFs made that sell-off worse, while others believed ETFs helped provide liquidity to the market, preventing a worse correction. Source: businessinsider.com Share This:

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News Stocks 

The new titans of Wall Street are crushing it this year

“Private equity firms on the whole have been crushing it in recent years” writes Graham Rapier for businessinsider.com. Specifically, Goldman raised its target price for shares of KKR, a $148.5 billion fund manager, to $23 — 13% above were the stock was trading Monday morning.Blackstone has also made headlines recently for launching a $40 billion infrastructure fund with the help of Saudi Arabia’s Public Investment Fund.Apollo in July raised the largest ever private equity fund, amassing $24.6 billion to be invested in North America and Western Europe, according to Reuters. Source: businessinsider.com Share This:

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News 

It would take a 50% hike in income tax to fund our current deficit

“But surely everybody knows by now that there is no lockbox with Social Security funds in it” writes John Mauldin for businessinsider.com. Aaah, the good old days… But the simple fact of the matter is that no Congress is going to fund Social Security and Medicare through tax hikes.Larry Kotlikoff wrote in an article on Forbes that we would need an immediate approximately 50% increase in taxes to fund our future deficits. Source: businessinsider.com Share This:

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News 

How General Mills Is Using a VC Fund to Navigate the War on Big Food

“Cereal giant General Mills (GIS) , battling weak sales of yogurt and cereal, has tasked one of its divisions with cooking up the next big thing in food. 301 Inc, which taps into General Mills’ cash-rich balance sheet to help fund its transactions, has been around for more than four years” writes Brian Sozzi for thestreet.com. The pitch by 301 Inc. to passionate food entrepreneurs on a mission is simple, the division’s leader John Haugen told TheStreet.But after finding that it was pretty tough to develop new food businesses from…

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