Active managers see a potential silver lining in the new president's market-moving tweets, WEED can now be traded on a public stock exchange, and not being idiotic is harder than people think, according to Charlie Munger.
President Donald Trump's proposals to shake up regulations in many of the country's large industry sectors could improve the fortunes of active management, Reuters reported. His market-moving tweets and speeches could make stock picking great again by providing portfolio managers a way to beat the index funds more often. The changes could bring old losers back in favor, said Scott Schermerhorn, chief executive of Granite Investment Advisors Inc.
Canopy Growth Corp. has adopted a ticker on the Toronto Stock Exchange that reflects the company's business: WEED, Bloomberg News reported. CEO Bruce Linton announced that the company is thrilled to be marketing WEED on Bay Street, Canada's equivalent of Wall Street. Canopy Growth now has a market capitalization of $1.2 billion, but has yet to post a net profit.
David Clark has published a book on the sayings of Charlie Munger, Berkshire Hathaway Inc.'s vice chairman, MarketWatch reported. "The desire to get rich fast is pretty dangerous," goes one quote. In another, Munger said he tries not be idiotic as others aim to be smart.
The phrase "intelligent execution" could one day become fixed-income trading jargon, the Financial Times reported. Data science and analytics are set to transform a marketplace in which a significant portion of trading is done over the telephone or by chat messaging. Platforms have for years been working on technology expected to organize and streamline trading protocols.
The political uncertainty following Trump's executive restrictions on immigration brought market volatility back into favor, CNBC reported. The VIX, or the "fear index," rose following the weekend turmoil as stocks gave up ground. The index has done so poorly of late, though, that its surge is from a low base, and its level was still not impressive to one trader who emailed the network.
The daughter of one of the country's richest people said she learned from the outside world that her father, Warren Buffett, was rich. Business Insider recounted Susan Buffett's interview in an HBO documentary in which she explained how she found out about the family fortune: reading an article in The Wall Street Journal while she was in her early 20s. The children's upbringing was modest.