Nobel laureate Kahneman says human financial advisors are still crucial, even with the rise of robo-advisors
Daniel Kahneman, a Nobel Prize-winning economist, said Tuesday financial advisors still play a major role in the finance world — despite recent technological disruptions in the industry — as they act as therapists for investors. As an advisor, you have...
Barclays new stock chief says, ‘It’s late, but the party’s still going’
The historic bull market in U.S. equities is maturing, but that doesn’t mean there isn’t room for more upside, according to Barclays’ new U.S. stock strategist. “It’s late, but the party’s still going,” Maneesh Deshpande said in a note to...
Fed nominees Clarida, Bowman clear US Senate panel hurdle
The U.S. Senate Banking Committee on Tuesday voted to approve Richard Clarida and Michelle Bowman as Federal Reserve governors, sending their nominations to the full senate for a confirmation vote. The Republican-controlled committee advanced Clarida’s nomination 20-5 and Bowman’s 18-7....
ITG acquisition seen bolstering Virtu’s place in FX market
In the month since Virtu confirmed it was buying ITG, the high-frequency trading shop has been at pains to stress it would not trade on its clients’ data once it had taken over the agency-brokerage and analytics firm. Virtu CEO...
A third of ‘affluent’ Americans say their financial stability depends on inheriting money
Even wealthy Americans are relying on family members to stay rich. That’s according to new data from Merrill Edge, which found that a third of “mass affluent” Americans are waiting on an inheritance to achieve financial stability. The study includes...
Why the conviction of an FX banker has huge implications for all market participants
By Kevin Rodgers Mark Johnson, the HSBC FX trader found guilty of wire fraud last October and sentenced to two years in jail this April, is appealing his conviction. You should care about the outcome. I was intimately involved in...
Your first trade for Tuesday, June 12
The “Fast Money” traders shared their first moves for the market open. Pete Najarian was a buyer of Micron. Tim Seymour was a buyer of the Consumer Discretionary ETF. Karen Finerman was a seller of the S&P Regional Banking ETF....
‘Capitalism may need modernizing,’ says billionaire hedge fund manager Paul Tudor Jones
The 50-year-old definition of capitalism in the U.S. is due for an update because of income inequality, according to billionaire hedge fund manager and philanthropist Paul Tudor Jones. “Capitalism may need modernizing,” the reclusive trader told CNBC’s “Squawk Box” on...
Consumer prices jump 2.8 percent for biggest increase in more than six years
U.S. consumer prices rose marginally in May amid a slowdown in increases in the cost of gasoline and the underlying trend continued to suggest moderate inflation in the economy. The Labor Department’s inflation report was published ahead of the start...
Paul Tudor Jones says rates would be much higher if he were running the Fed
Paul Tudor Jones upped his criticism of the Federal Reserve on Tuesday, saying that the central bank is way behind the curve when it comes to interest rates. In fact, the reclusive hedge fund magnate told CNBC the Fed’s benchmark...
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