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The last 40 years of investing history are a ‘black swan’ that won’t be repeated.
That’s according to Bill Gross of Janus Capital, who said the stellar returns experienced by both bond and stock investors over the last 40 years are an anomaly.
In Wall Street news, Credit Suisse is giving staff Friday nights off, bankers are bracing for a software M&A frenzy after Salesforce’s Demandware deal, and Mehra “Cactus” Raazi, a well-known bond specialist, is setting up his own fintech startup.
OPEC failed to cap production but managed to agree on one important thing.
Donald Trump will govern by putting lots of ideas on a ‘whiteboard’ and seeing which stick, according to Anthony Scaramucci, the founder and CEO of SkyBridge Capital and one of Trump’s biggest boosters on Wall Street.
And here’s the Goldman Sachs Elevator guide to getting ahead in your new job.
Here are the top Wall Street headlines at midday:
Goldman Sachs just cut its Apple price target― Goldman Sachs cut its price target for Apple stock to $124 from $136 in a note issued Thursday.
NIGER DELTA AVENGERS: We just blew up 2 Chevron oil wells―The militant group took credit for the attack in a series of tweets on Wednesday.
The tide for a huge part of the housing market may be starting to shift―The tide of the housing market may be starting to turn for the better, but only if you don’t own the dwelling you’re living in.
A hot stock trading startup is venturing into China―Robinhood, an app that lets people trade stocks for free, has partnered with Chinese search engine Baidu to offers it services in the country.
APOLLO: ‘We are going to keep on filling the role of banks’―The big banks’ pain is private equity’s gain.
Ferrari built a one-of-a-kind car for a wealthy customer―Ferrari has announced a one-off custom version of its 458 Speciale – the ultimate and final version of the highly-successful 458 line – built to the specifications of a wealthy British client.
Here’s what it takes to make $100,000 a year as a waiter in NYC―In New York City, sometimes you do not have to be a banker, a lawyer, or a doctor to make a six-figure salary.