Sales & Marketing news

• A top hedge fund manager has the same response every time someone compliments his fund

  16-03-2017 23:50 via feedproxy.google.com
  Whenever someone compliments hedge fund manager Loic Fery on his fund's performance, he has the same response.
  "I always invite them to meet in another 10 years to reconsider," Fery, the CEO of $5.5 billion fund Chenavari Investment Managers, said in an email to Business Insider. "We cannot take anything for granted in our industry."
  It's a mantra that many fund managers could probably heed.
  Many hedge funds fail to live up to their promises to investors. The $3 trillion industry shrun
  
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• A top hedge fund manager has the same response every time someone complements his fund

  16-03-2017 23:50 via feedproxy.google.com
  Whenever someone complements hedge fund manager Loic Fery on his fund's performance, he has the same response. 
  "I always invite them to meet in another 10 years to reconsider," Fery, the CEO of $5.5 billion fund Chenavari Investment Managers, said in an email to Business Insider. "We cannot take anything for granted in our industry."
  It's a mantra that many fund managers could probably heed.
  Many hedge funds fail to live up to their promises to investors. The $3 trillion ind
  
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• There’s a problem with electronic bond trading

  16-03-2017 23:42 via feedproxy.google.com
  
  It is hard to imagine today, but in the not so distant past, there was a lively debate regarding the usefulness of electronic trading in the corporate bond market.Gradually, as key developments like the introduction of List RFQs by MarketAxess illustrated the potential market-wide benefits of electronic trading, the tectonic plates that upheld the traditional concept of corporate bond trading shifted.Currently, electronic corporate bond trading has not only evolved to become an essential compone
  
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• GOLDMAN SACHS: This should be a good year for stockpickers, and it's great news for us (GS)

  16-03-2017 23:13 via feedproxy.google.com
  
  Stop me if you've heard this before: It's going to be the year of the active manager.
  It's not hard to find Wall Streeters who are both bullish on the market, and bullish on active managers' ability to beat it.
  After a rough few years where mutual funds and hedge funds underwhelmed, 2017 could see a "nirvana for active managers," according to Morgan Stanley. 
  "This environment is undoubtedly better for active investing," Third Point founder Dan Loeb wrote in a letter to
  
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• Dan Loeb's Third Point is looking to win fresh money

  16-03-2017 23:02 via feedproxy.google.com
  
  Dan Loeb's Third Point is looking to raise fresh money. 
  The fund opened to new money around six months ago, according to people familiar with the matter. The minimum investment is $10 million for those investing directly. 
  Around the same time, it joined Morgan Stanley's wealth management platform, allowing the bank's wealthy clients to invest smaller amounts in Third Point. 
  The fund infrequently opens to fresh money. The last time the fund opened, in 2014, it raised $2.5
  
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• Here's how much Valeant short sellers have been killing it ever since Bill Ackman got in the stock (VRX)

  16-03-2017 21:56 via feedproxy.google.com
  
  A quick note on Valeant Pharmaceutical short sellers from Wall Street analytics firm, S3 Partners – something to give a little context to hedge fund billionaire Bill Ackman's exit from the company.
  "VRX short sellers were profitable every year after Bill Ackman’s entry into the stock, eventually earning a 343.45% return on their average short position of $801 million," the firm said in a note to clients.
  You'll recall that Bill Ackman started buying Valeant stock after coll
  
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• Canada Goose exploded on its first day of trading (GOOS)

  16-03-2017 21:39 via feedproxy.google.com
  
  Canada Goose popped nearly 40% in its opening minutes of trading on Thursday. Shares slipped over the remainder of the session, but still closed up 25.8% at $16.08 a share.
  The Canadian luxury retailer opened for trading at $18 (CA$24.20) a share after pricing at $12.78 on Wednesday evening. Wednesday's price was above the expected range of $10.50 to $12.
  The company listed on the New York Stock Exchange and the Toronto Stock Exchange under the ticker GOOS. The IPO raised $256 mi
  
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• A big part of the GOP's Obamacare replacement may accomplish the opposite of its goal

  16-03-2017 21:35 via feedproxy.google.com
  The Congressional Budget Office announced Monday that the American Health Care Act, the GOP leadership's plan to repeal and replace the Affordable Care Act, would lead to as many as 24 million more people to be uninsured by over the next decade.
  And what could be to blame is a major provision in the bill that Republicans say is designed to encourage more people to sign up for insurance.
  The AHCA includes a provision that says anyone who does not have health insurance coverage for a period o
  
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• Trump’s climate skepticism could be the biggest threat to US national security

  16-03-2017 21:34 via feedproxy.google.com
  
  One thing is clear from President Donald Trump’s budget proposal: he really does think climate change is a hoax perpetrated by the Chinese to slow America’s mighty economy. 
  Nevermind that China, now dealing with the very real effects of heavy air pollution brought on by rapid, unregulated industrialization, is at the forefront of global efforts to restrain climate change.
  The budget blueprint released Thursday takes deep cuts to agencies and programs dedicated to researchi
  
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• This is the tax that cost Trump $31 million in 2005 — and now he wants to eliminate it

  16-03-2017 21:01 via feedproxy.google.com
  
  One tax that President Donald Trump has promised to put on the chopping block is one that hit him hard in 2005: the alternative minimum tax.
  A copy of the president's tax return, recently revealed by MSNBC, indicates that the alternative minimum tax cost Trump $31 million. As Business Insider's Jim Edwards reported, that "accounted for most of the $38.5 million in taxes" the president paid in 2005.
  What is the alternative minimum tax?
  The original purpose of the AMT was to prevent very wealthy
  
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• MORGAN STANLEY: These 3 restaurant stocks could be crushed by the return of food inflation (CAKE, RRGB, BLMN)

  16-03-2017 21:01 via feedproxy.google.com
  
  Falling food prices will soon be history, and restaurants could get crushed as prices rise, according to Morgan Stanley.
  "As a percentage of company-operated restaurant sales," said an analyst team led by John Glass, "food costs declined ~40bps in 2015 and another ~70bps in 2016."
  The fall in food prices has saved the restaurant business, although it has also led to a drop in sales at restaurants as it has become cheaper for consumers to eat at home.
  "Adjusting
  
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• Bitcoin could be on the edge of a cliff

  16-03-2017 19:57 via feedproxy.google.com
  
  Let me be clear: I do not trade bitcoin, but I do write about it often.
  Before going into journalism, I spent my days trading. I learned a lot about technical analysis during that time, and right now, technical analysis spells huge trouble ahead for the cryptocurrency. 
  Let's recap what has been going on in the bitcoin market so far this year. 
  Bitcoin rallied 120% in 2016 and has been the top-performing currency in each of the last two years. It opened 2017 by gaining 20% in the
  
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• Goldman Sachs' CEO just issued a defense of his firm's tradition of sending executives to government

  16-03-2017 19:26 via feedproxy.google.com
  
  Goldman Sachs CEO Lloyd Blankfein dedicated a portion of his annual letter to defending his firm's tradition of sending alumni to government positions.
  "Gary was not the first person from Goldman Sachs to join the government, and we hope and expect that he will not be the last," Blankfein wrote of Gary Cohn, his former no. 2 executive who left in December to join President Trump's administration.
  He said the kinds of people that Goldman recruits "develop the skills to make a contribution in
  
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• Snapchat dips below $20 for the first time (SNAP)

  16-03-2017 19:21 via feedproxy.google.com
  
  Shares of Snap have tumbled below the $20 level, trading down 4.1% at $19.91 per share as of 2:12 p.m. ET. 
  Thursday's selling has Snap down about 32% from its all-time high set on March 3, just a day after the initial public offering. Snap's IPO priced at $17 per share and their first trade occurred at $24.
  Wall Street has been skeptical of Snap from the get go as it was the first US company to exclusively list shares with nonvoting rights. That prompted six out of eight analysts
  
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• A drug company just struck a deal to discount the price of a lifesaving diabetes medication to $25

  16-03-2017 18:59 via feedproxy.google.com
  
  Insulin prices have been rising — increases that mean some people are spending as much on monthly diabetes-related expenses as their mortgage payment.
  As a result, the companies that make insulin have been under fire from the public and politicians including US Senator Bernie Sanders. 
  In response, one of those insulin-makers, Danish pharmaceutical company Novo Nordisk, said Thursday that it's partnered with CVS Caremark to provide $25 vials of insulin, roughly $100 less than the
  
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• Trump when told the biggest losers under 'Trumpcare' would be his own voters: 'Oh, I know'

  16-03-2017 18:21 via feedproxy.google.com
  
  President Donald Trump nodded in agreement during a Wednesday interview with Fox News' Tucker Carlson when told the American Health Care Act, the bill to repeal and replace Obamacare, would cause the most damage to people who voted for him in November.
  During the interview, Carlson mentioned an analysis by Bloomberg that showed that counties that voted more heavily for Trump in the election would see their tax credits to purchase insurance fall dramatically and likely see the number of people wi
  
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• We've already tried budgeting Trump's way and it was a huge failure

  16-03-2017 18:20 via feedproxy.google.com
  
  Boost defense spending, leave entitlements as they are, cut marginal programs, and give the rich a tax cut — that's the basic gist of Trump's budget.
  We've seen this before, and it didn't work the last time.
  In 1980 the US was in an economic mire — a heady mix of slow growth and inflation we know today as "stagflation."
  The newly elected Reagan administration believed that the way to fix this was through supply-side economics: lowering taxes to spur growth while cutting the size and
  
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• Trump's slash-and-burn budget could hit his own political base the hardest

  16-03-2017 17:50 via feedproxy.google.com
  
  Donald Trump's proposed budget fits a familiar pattern for the president: When backed into a corner, go for the jugular.
  This time, the victims would be federal government programs aimed at some of the neediest Americans, many of whom voted for Trump last year in the hopes that he might improve their lot.
  Trump's plans are in keeping with his promise to make the government smaller, with one very large caveat that would be paid for with those essential-services cuts: a $54 billion increase in def
  
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• GoPro finally realizes that smartphones can do exactly what its cameras can (GPRO)

  16-03-2017 17:39 via feedproxy.google.com
  
  One of GoPro's biggest challenges is competition. 
  The action-camera maker is striving to return to profitability, and on Wednesday announced its third round of layoffs in just over a year.
  GoPro cut 270 full-time and open positions in the latest round. Last November, it laid off 200 people, or about 15% of its workforce, and reduced its headcount by 100 people in January. 
  In an interview with CNBC on Thursday, CEO Nick Woodman said the company had realized one crucial error
  
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• Guinness on how it is creating an ‘ageless’ brand

  16-03-2017 16:44
  
  When you think of Guinness it’s easy to imagine a pub full of distinguished middle-aged drinkers complimenting the bartender for the thickness of his pour. Yet, according to Rory Sheridan, head of sponsorship for Diageo in Western Europe, the iconic Irish stout is now attempting to steer away from its specialist tradition and to resonate more with a younger audience.
  With the final weekend of the Rugby Six Nations Championship this weekend and this week’s Cheltenham Festival –
  
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• Social media spend failing to live up to expectations

  16-03-2017 15:58
  
  Social media is failing to meet projections as marketers consistently overestimate how much budget they will dedicate to sites such as Facebook, Twitter and Snapchat.
  According to a survey of 388 top US marketing execs that is run biannually by The CMO Survey, marketers are now spending 10.5% of their budgets on social media. And they expect that to rise.
  Over the next 12 months, that figure is expected to increase to 12.9% while over the next five years marketers estimate that 18.5% of their bu
  
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• Colin Lewis: Humans evolve at a glacial pace but technology with value is always in demand

  16-03-2017 15:46
  
  Most people reading this article can remember what they were doing 10 years ago. But 10 years ago, the Apple iPhone had only just launched. It did not really make an impact initially as the cool kit was the Blackberry Pearl. The number of people with broadband in the world was less than 300 million. Now it’s three billion.
  Mobile broadband penetration in the UK and US was less than 23%, while today WeChat, the Chinese app that is a mash-up of Twitter, Facebook, Facetime and WhatsApp has 76
  
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• International bulletin: McDonald’s tests mobile ordering, Germany threatens to fine Facebook

  16-03-2017 15:37
  
  McDonald’s tests mobile ordering ahead of US roll out
  McDonald’s has begun testing mobile ordering and payments this week in select US markets. The fast food brand hopes to roll it out across the US and in other international markets by the end of this year.
  The McDonald’s mobile app already allows customers to browse the menu, view weekly deals and find nearby locations, but now it will allow customers to place orders and pay within the app.
  Mobile ordering will initially be a
  
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• Unilever to increase spend on digital shopper marketing after proving display ROI

  16-03-2017 14:17
  
  Maille is one of the Unilever brands taking part in the project.Unilever is planning to shift more of its shopper marketing budget into digital display after finally getting the data that it needs to prove return on investment.
  In the first phase of a year long research project between Unilever, Aimia, Sainsbury’s, Nielsen, i2c and the IAB, the FMCG company tested digital display advertising for five of its brands – including Persil, Magnum and Maille. The ads were served programmat
  
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• Facebook’s metrics errors have not impacted how Mondelez and Just Eat use it

  16-03-2017 12:18
  
  Facebook’s metrics errors have not altered Mondelez’s view of the platform because it “did not affect what the brand is actually buying”.
  Last year Facebook admitted it had overstated how long users watch videos for on its site by up to 80%. It also found that it had also been overstating time spent with Instant Articles, app referrals, and found a bug in its Page Insights, which overestimated organic reach because it did not de-duplicate repeat visitors over seven or 28
  
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• Facebook’s metrics errors are not impacting Mondelez and Just Eat’s plans

  16-03-2017 12:18
  
  Facebook’s metrics errors have not altered Mondelez’s view of the platform because it “did not affect what the brand is actually buying”.
  Last year Facebook admitted it had overstated how long users watch videos for on its site by up to 80%. It also found that it had also been overstating time spent with Instant Articles, app referrals, and found a bug in its Page Insights, which overestimated organic reach because it did not de-duplicate repeat visitors over seven or 28
  
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• Warc Awards: Content Strategy judges named

  16-03-2017 01:00
  LONDON: Alison Keith, Vice President of Global Media at Coty, the beauty products brand, will be chairing the judging panel for the Effective Content Strategy category in the 2017 Warc Awards.A strong advocate of brand communication, Keith also...
  
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• HP champions measurement progress

  16-03-2017 01:00
  ORLANDO, FL: Marketers should treat the Media Rating Council's (MRC) viewability standards as a valuable base rate – but not an endpoint – for their digital measurement efforts, a leading executive from HP has suggested.John Marshall,...
  
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• Chinese brands take over Indian cricket

  16-03-2017 01:00
  MUMBAI: Insurgent Chinese brands have taken over every major sponsorship opportunity in Indian cricket as they seek to grow brand awareness in the country.Cricket has long been a lucrative sponsorship opportunity in India. According to a recent...
  
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• Alibaba wants to build its own 'NASA'

  16-03-2017 01:00
  HANGZHOU: Alibaba will need to build its own NASA if it is to meet its strategic aim of serving 2bn customers, according to Jack Ma, Founder and Executive Chairman of the Chinese e-commerce giant.As reported by Alizila, a news portal owned by...
  
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• Ad-supported internet is worth $1tr+

  16-03-2017 01:00
  NEW YORK: The ad-supported internet contributed $1.121 trillion to the US economy last year, or more than twice what it did in 2012, according to a new academic study.The report, entitled
  
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• Ad fraud could cost $16.4bn in 2017

  16-03-2017 01:00
  NEW YORK/LONDON: The cost of global online ad fraud could reach $16.4bn this year, according to a new study that says advertisers may lose more than twice as much as previous estimates suggested.Entitled What Happens Next: How to Reverse the...
  
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• Accenture challenges media-buying agencies

  16-03-2017 01:00
  LONDON: Accenture, the global professional services firm, is working on helping its clients set up their own in-house, digital media-buying capabilities in a move that will be seen as a threat to media agencies.The company's digital arm, Accenture...
  
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