Salient to Investors: Warren Buffett said any partnership where I don’t have to do the work is my kind of partnership. Heinz is being bought for 14.6 times Ebitda versus the median of 7.6 times Ebitda of more than 100 comparable deals worldwide. Christopher Growe at Stifel Nicolaus said Buffett’s affection
READ MORE... →Salient to Investors: John Paulson at Paulson & Co. is focusing on event-driven investing – bet on companies facing mergers, spinoffs and bankruptcies – in 2013 after losses on wrong-way bets on the U.S. and European economies over the previous two years. Read the full article at http://www.bloomberg.com/news/2013-02-15/paulson-buys-sprint-metropcs-in-telecom-takeover-plays.html Free email alerts of articles as soon
READ MORE... →Salient to Investors: The assets of Michael Steinhardt’s WisdomTree Investments’ Japan Hedged Equity Fund have tripled since the start of 2013. The rapid growth of the fund highlights investors’ embrace of ETFs as vehicles for short-term trades in a way traditional mutual funds, with their higher fees and trading restrictions, haven’t been used. IndexUniverse
READ MORE... →Salient to Investors: Albert Krespin at Deutsche Bank expects Turkish banking shares to continue their correction in the near-term, and advises switching from banking shares to industrial companies, which offer higher dividends. Dmitry Trembovolsky and Alexey Butylin at Goldman Sachs advised selling Turkish banks last week as earnings will decline and repatriation of money into the US could
READ MORE... →Salient to Investors: The World Gold Council said the gap between India, 2012’s biggest gold buyer, and the second-largest consumer, China, narrowed to the smallest ever: together they account for 52 percent of global consumer bullion demand. Marcus Grubb at the Council said India consumption may climb 11 percent to 965 tons in 2013,
READ MORE... →Salient to Investors: George Soros made almost $1 billion since November from bets that the yen would tumble. Scott Bessent at Soros Fund Mgmt has 10 percent of the firm’s internally managed portfolio betting on rising shares in Japan. Read the full article at http://www.bloomberg.com/news/2013-02-14/soros-said-to-make-1-billion-since-november-on-yen-bet.html Free email alerts of articles as soon
READ MORE... →Salient to Investors: Tim Courtney at Exencial Wealth Advisors said all these deals are good news for the markets because they show that capital is being put to good use for investors. The difference between the price of put options protecting against a 10 percent slide in the S&P 500
READ MORE... →Salient to Investors: Tom Russo at Gardner Russo & Gardner said Berkshire Hathaway is like a coiled spring. Warren Buffett said the beauty of stocks is that they do sell at silly prices from time to time, and that’s how he and Charlie Munger got rich. David Winters at Wintergreen Advisers said Berkshire Hathaway is
READ MORE... →Salient to Investors: The 2008 financial crisis cost US endowments 23 percent of their value on average in F2009. Commonfund and NACUBO said fund values fell 0.8 percent in the year ended in June 2012, and gained 18 percent a year earlier. Nick Cavalla at Cambridge University said US colleges, including Harvard, Princeton and
READ MORE... →Salient to Investors: Analysts have cut price targets by 21 percent since the stock peaked in September 2012. Apple is trading at 10.6 times reported earnings versus the S&P 500’s multiple of 15, near the widest discount since December 2000. The last time Apple traded at such a discount, it went on to
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