Hints and tips:
...On the other hand, Berkshire’s huge investment in Apple, which it started buying in 2016, has been a winner....
...Lifelike Capital [ridiculously minimalist website award winner] . . . ....
...Winners and losers As Europe looks to plug the gap, it is already turning to the Middle East and west Africa....
...Earlier this week, Frederick Kenney, interim co-ordinator for the UN at the JCC, said the organisation was not responsible for checking ship ownership....
...Lansdowne’s move has raised concerns about the future of long-short equity hedge funds, an $830bn sector that aims to make money by selecting winners and losers....
...In the US, S&P 500 non-financial companies were sitting on $1.35tn of cash and equivalents at the end of June....
...“These companies are already extraordinarily powerful, but they’re well positioned to emerge as the biggest winners of Covid-19 unless some legislative action is taken,” Sandeep Vaheesan, legal director...
...But the idea that winners can reign for longer is questioned given the lessons of the past....
...• 2) On P/E metric, Cyclicals are not at extremes vs Defensives ... Their P/E relative bottomed at 0.7x and 0.8x in the last two downturns, vs 1.0x current....
...The moves came after a sharp sell-off in US equities overnight, with the S&P 500 dropping 1.2 per cent and the tech-heavy Nasdaq Composite falling 1.6 per cent....
...The S&P 500 edged up 0.4 per cent....
...More broadly on Wall Street, the S&P 500 edged up 0.1 per cent to 2,560....
...The energy segment of the S&P/ASX 200 index was up 1.4 per cent in morning trade in Sydney, while the broader benchmark had gained just 0.2 per cent....
...Sydney’s S&P/ASX 200 index was down 0.3 per cent as financials dipped 0.8 per cent....
...The S&P/ASX 200 index was flat. Tokyo-listed equities dipped, then gained, then dipped again, with the Topix reverting to be flat in early afternoon trading....
...In the shootout with its maverick rivals, Ping An is emerging the winner. Lex recommends the FT’s Due Diligence newsletter, a curated briefing on the world of mergers and acquisitions....
...And finally, housebuilder Taylor Wimpey appears to be still on to a winner – for now....
...The big winners are the usual suspects among the advisers, who have cranked up the fees to a magnificent £74m....
...No wonder some big tech companies are trying to shift the “winner-takes-all” narrative and focus on their role in supporting larger economic ecosystems....
...Credit Suisse notes that since 2004, when cyclicals start to trail defensives, the S&P 500 usually peaks within a month....
...RBS rights and wrongs Royal Bank of Scotland shareholders may not be the only winners if their High Court case can be settled....
...A handful of hedge funds are emerging as big winners this year, even as the industry has struggled to assuage investor ire over high fees and mediocre performance....
...There have been some obvious winners from its ascent....
...However, Centamin has already accounted for the latter through its P&L and intimated that the former is not exactly Article 50....
...McDonald's — a proven winner across the decades — has good reason to support the Japanese turnround. Email the Lex team at lex@ft.com...
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