Nelson Peltz says he is sorry he voted for Trump, calls Capitol riot 'a disgrace'
Billionaire investor Nelson Peltz on Thursday apologized for backing President Donald Trump's failed reelection efforts, telling CNBC he believes the Capitol Hill riot has permanently tarnished Trump's legacy. Peltz said his support for Trump was rooted in the president's economic policies, particularly around trade and U.S.-China relations. "All the good was gone, was thrown out, over the course of the last month and finished yesterday," Peltz said. Peltz said he hopes the pro-Trump mob taking over the Capitol is a "real turning point" for the country. "I hope we can learn from yesterday," Peltz said, urging politicians to be more bipartisan.cnbc.com
Deciphering what Nelson Peltz is up to with his big moves in the investment management space
Business: Independent investment management company. Invesco provides a range of investment capabilities and outcomes, which are delivered through a set of investment vehicles, to help clients achieve their investment objectives. The solution offers advisors an open architecture platform that includes Invesco's fundamental and factor-based investment strategies. They have the same language in their Invesco 13D, but also add that they requested that the Invesco board be expanded to include Trian partners Nelson Peltz and Ed Garden. Ken Squire is the founder and president of 13D Monitor, an institutional research service on shareholder activism, and the founder and portfolio manager of the 13D Activist Fund, a mutual fund that invests in a portfolio of activist 13D investments.cnbc.com
Trian's investment in Comcast highlights stock underperformance but is unlikely to trigger major changes
The pandemic has further underscored NBCUniversal as an anchor on Comcast shares, with Universal theme parks shut down for months and now operating at limited capacity. But Comcast's recent underperformance versus Charter — a pure-play cable company — is startling. Charter, the second-largest U.S. cable company, has a trailing price-to-earning ratio of about 60 and a forward P/E ratio of more than 30. Comcast shares are up 2% over the same period. Isolating Comcast cable valuecnbc.com
Hedge fund titans Simons, Griffin, Cohen and Tepper earned $1 billion in 2019 before virus outbreak
Renaissance Technologies's James Simons, Citadel's Ken Griffin, Points72's Steven Cohen and Appaloosa Management's David Tepper were among the biggest hedge fund earners in 2019 with each man raking in over $1 billion, according to Institutional Investor's Rich List. 1 on the list was Christopher Hohn of TCI Fund Management, who earned in $1.8 billion last year, according to Institutional Investor. As a result of a banner year, the 25 highest-earning hedge fund managers made a combined $20.2 billion in 2019, the most since 2013. It's likely that a significant portion of the managers' 2019 income was erased throughout the market collapse. For example, Bridgewater's Dalio told CNBC last week that his hedge fund was down 10% to 20%.cnbc.com
Pot stocks try to rebound from terrible 2019: 'This is 2008 for the cannabis industry'
LAS VEGAS The legal marijuana industry is going through an epic shakeout. "This is 2008 for the cannabis industry," said Kevin Murphy, chairman and CEO of Acreage Holdings. "It has been an exciting year, and not in the way that shareholders in this sector would like," said Cam Battley, chief corporate officer of Aurora Cannabis. The top six publicly traded marijuana companies have lost a combined $25 billion in market value since the end of March. "Our belief was you needed to start hitting your numbers in 2019, so 2019 is the year where financial results mattered."cnbc.com