They called the deal a stinker… Abbott Labs is a 129-year-old medical device company. In the early 2010s, that company found itself mired in slow growth. Management was convinced that the problem laid with its drug division. So in 2013, management decided to split the company in two and jettison the underperforming drug portfolio into […]
By Nick Rokke, analyst, The Palm Beach Daily When Wall Street tells you to do one thing, you should do the opposite… Most people don’t know this… but Wall Street uses coded language to pull the wool over the eyes of ordinary investors. It may seem difficult at first. But the code is actually easy […]
Bill Ackman is one of the smartest investors we know of. On Tuesday, he finally admitted to one of the dumbest investment mistakes we’ve ever seen… Ackman has run the Pershing Square Capital fund since 2005. The fund takes concentrated positions in just a few companies. Rarely does his $15 billion portfolio own more than […]
In yesterday’s Daily, we told you one of the best shortcuts to picking great stocks is to follow the best investors. And it’s easy to do. Just look at the quarterly 13F filing. [All funds that have more than $100 million under management need to file a quarterly 13F report with the U.S. Securities and […]
David Tepper might be the best investor you’ve never heard of… Tepper runs the $20 billion hedge fund Appaloosa Management. This fund consistently thrashes the market. In the 24 years Tepper’s run his flagship fund, he averaged 30% annually. But he’s a private individual. You don’t see him on TV very often. And he doesn’t […]
Last month, the Venezuelan government revoked the bank account of Surbitcoin, the country’s largest bitcoin exchange. The company was forced to suspend operations. And bitcoin owners who used the service had nowhere to store their currency. That same month, the Chinese government issued a string of new policies to crack down on bitcoin exchanges in […]
By Teeka Tiwari, editor, The Palm Beach Letter Here’s a riddle for you… Take a look at the two lists below and tell me what they have in common. Stocks, bonds, derivatives Avocados, flowers, machine parts If you’ve been following me for the past year, you may know the answer: the blockchain. When I first […]