It can take years to build a reputation, but it can be destroyed in a manner of minutes. The latest to fall to this hubris is billionaire fund manager Ken Fisher.
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| |  Good morning. It can take years to build a reputation, but it can be destroyed in a manner of minutes. The latest to fall to this hubris is billionaire fund manager Ken Fisher.
Making lewd comments at a financial conference last week, Fisher Investments has started to see investors pull their funds, including over $600 million from retirement funds for the state of Michigan, ending a 15-year relationship.
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| | |  | DOW 26,787.49 | -0.11% | | | | S&P 2,966.15 | -0.14% | | | | NASDAQ 8,048.65 | -0.10% | | | | | *As of market close | | | • | Stocks traded flat yesterday, as the market digested weekend data on trade. | | | • | Oil dropped 2.2 percent, to $53.50 per barrel. | | | • | Gold rallied 0.5 percent, to $1,496 per ounce. | | | • | Cryptocurrencies generally rallied, with Bitcoin rising to $8,370. | | | |
| | | Three Tips to Avoid Investing in a Failed IPO | | | | 2019 has been the most active years for technology companies going public since 1999. Unlike then, when a company without a solid business model could go public and gain public interest, today's investors are much warier.
They want companies with growth potential and future profits, not wanting to invest in IPOs where early stage investors can cash out ahead of a steep drop in price. Investors who follow just three simple tips can avoid substantial dangers—and ensure better profits.
» FULL STORY | | | | |
| | Insider Activity: Camping World Holdings (CWH) | | | | Abrams Capital, a major stakeholder in Camping World Holdings (CWH), increased their stake by 12 percent recently, with the additional buy of 650,182 shares. The total cost for that additional stake came to just over $5.1 million, and increases the fund's total holdings to just over 6.1 million shares.
Insider data shows that there have been no insider sales since early 2018, and insiders have been buyers at prices as high as 27 percent higher than where shares currently trade.
» FULL STORY | | | | |
| | Unusual Options Activity: Apple (AAPL) | | | | The October 25th $270 call options on Apple (AAPL) saw over 7,200 contracts trade against a prior open interest of 137, a 53-fold surgein volume against the prior open interest.
With shares at $236, it's a bet on shares moving 14 percent higher to move in-the-money before the end of the month, which is unlikely, especially as the company won't report earnings until October 30th.
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| | | | TOP | | | HPE | 4.181% | | | | ABMD | 4.05% | | | | AMD | 2.622% | | | | ILMN | 2.555% | | | | ALGN | 2.493% | | | | BOTTOM | | | IPGP | 7.801% | | | | CF | 3.26% | | | | MOS | 3.185% | | | | TPR | 2.81% | | | | M | 2.672% | | | |
| | |  | | There is not yet a viable path to existing tariffs declining, and tariff escalation remains a meaningful risk. Thus, we do not yet expect a meaningful rebound in corporate behavior that would drive global growth expectations higher. | - Morgan Stanley investment note on how trade issues aren't resolved and economic growth will likely stay slow.  | |
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