Jennifer's Feed
Nov 6, 2015

Berkshire profit doubles to record on Kraft Heinz

NEW YORK (Reuters) – Warren Buffett’s Berkshire Hathaway Inc (BRKa.N: Quote, Profile, Research, Stock Buzz) (BRKb.N: Quote, Profile, Research, Stock Buzz) said quarterly profit doubled to a record high, reflecting a large gain on its stake in Kraft Heinz Co (KHC.O: Quote, Profile, Research, Stock Buzz), while operating profit declined on weaker results from insurance underwriting.

Third-quarter net income rose to $9.43 billion, or $5,737 per Class A share, from $4.62 billion, or $2,811, a year earlier.

Nov 6, 2015

DoubleLine’s Gundlach says Fed should not raise rates in December

NEW YORK (Reuters) – DoubleLine Capital co-founder Jeffrey Gundlach, widely followed for his investment calls, warned on Thursday that the U.S. Federal Reserve should not raise rates in December as economic and financial conditions have become vulnerable.

Gundlach said the Goldman Sachs Financial Conditions Index shows the market has already tightened for the Fed as the index sits at its worst level since 2014 and the Great Recession.

Nov 5, 2015

Gundlach’s DoubleLine Capital posts 21st month of net inflows

NEW YORK, Nov 5 (Reuters) – DoubleLine Capital, the
investment firm with $80 billion in assets overseen by widely
followed co-founder Jeffrey Gundlach, posted net inflow of $1.61
billion in October, the 21st month it has attracted new money.

The Los Angeles-based firm said on Thursday that DoubleLine
Total Return Bond Fund, which is its largest fund by total
assets at $50.5 billion and which invests primarily in
mortgage-backed securities, had a net inflow of $1.24 billion in
October.

Nov 5, 2015

Pimco managing director Wendy Cupps to retire after 21 years

NEW YORK (Reuters) – Bond giant Pimco said on Thursday that Wendy Cupps, managing director and head of product management, has decided to retire from the firm at the end of 2015 after 21 years with the Newport Beach, Calif. company.

Cupps will be succeeded by Jennifer Bridwell, managing director and head of Pacific Investment Management Company’s alternative products, the company said.

Nov 3, 2015

Pimco Total Return fund posts $1.6 bln net outflows in October

NEW YORK, Nov 3 (Reuters) – Pacific Investment Management
Co’s flagship fund in October posted its smallest monthly cash
withdrawal this year at $1.6 billion, according to the Newport
Beach, Calif-firm’s website on Tuesday.

The Pimco Total Return Fund, with assets under management of
$93.7 billion, delivered a net after fee return of 1.01 percent
year-to-date through October 31st.

Nov 3, 2015

Bill Gross: Fed should do ‘Operation Switch’ to revive economy

NEW YORK, Nov 3 (Reuters) – Bill Gross, the closely watched
bond investor, on Tuesday warned that the flatness of the
Treasury yield curve could have harmful effects on lending
across all credit markets, stunting growth in U.S. corporate
profits.

Gross, who oversees the $1.4 billion Janus Global
Unconstrained Bond Fund, said in his latest Investment Outlook
that the Federal Reserve’s historical models fail to recognize
that over the past 25 years, capitalism has increasingly morphed
into a finance-dominated system as opposed to one that produces
goods and services.

Nov 3, 2015

Valeant’s crisis fuels feud between Ackman and Australian fund manager Hempton

NEW YORK (Reuters) – Just before Bill Ackman gave a presentation on Friday to defend one of his biggest investments, Valeant Pharmaceuticals, from allegations of accounting and insurance fraud, he was taunted by John Hempton, who runs a small hedge fund from Australia. It was the latest act in a long-running feud.

In an email he sent Ackman, who is one of the world’s best-known hedge fund managers, was a link to Hempton’s latest critique of the Canadian drug maker’s potential problems, one of the most detailed produced by anyone yet.

Nov 3, 2015

Bill Gross warns flatness of yield curve could stunt profit growth

NEW YORK, Nov 3 (Reuters) – Bill Gross, the closely watched
bond investor, on Tuesday warned that the flatness of the
Treasury yield curve could have harmful effects on lending
across all credit markets, resulting in stunted profit growth in
the United States.

In his latest Investment Outlook, Gross, who oversees the
$1.4 billion Janus Global Unconstrained Bond Fund, said the
Federal Reserve’s historical models fail to recognize that over
the past 25 years, capitalism has increasingly morphed into a
finance-dominated system as opposed to one that produces goods
and services.

Nov 2, 2015

George Soros’s firm pulls $500 million from Bill Gross of Janus

NEW YORK (Reuters) – Bill Gross just got a huge vote of “no confidence” from billionaire investor George Soros.

Soros Fund Management LLC, which Soros chairs, pulled its roughly $500 million from an account run by Gross at Denver-based Janus Capital Group Inc (JNS.N: Quote, Profile, Research, Stock Buzz), a source familiar with the matter said on Monday. The trade publication Pension & Investments earlier reported on the outflow.

Oct 23, 2015

Omega: August selloff in U.S. shares not end of bull market

NEW YORK (Reuters) – Leon Cooperman and Steven Einhorn’s Omega Advisors told investors the bull market in U.S. shares was intact and that equities should generate a mid-to-high single-digit annual total return despite August’s market turmoil.

In a letter to investors dated Oct. 17 and seen by Reuters on Friday, Cooperman and Einhorn said it would take time to restore investor confidence in U.S. shares after the volatility and forced selling that drove stocks down 10 percent over five sessions near the end of August.