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Goldman Sachs has raised the probability of a U.S. recession to 35%, citing deteriorating consumer and business confidence, and the economic impact of higher tariffs. The bank anticipates three interest rate cuts this year, despite inflation concerns, as it shifts focus to labor market issues and growth stagnation. Meanwhile, Moody's Mark Zandi has increased recession odds to 40%, suggesting a potential "recession by design" due to current policies.
Warren Buffett's skepticism towards Bitcoin is well-documented, famously labeling it "rat poison squared" in 2018. Other Wall Street figures, including Howard Marks and John Paulson, share similar views, criticizing cryptocurrencies for lacking intrinsic value. However, some, like Ray Dalio, have softened their stance, with Dalio acknowledging Bitcoin's potential as an investment.
The central bank has issued digital currency to seven banks, including Kookmin and Shinhan, as part of a pilot program. Meanwhile, Xiaomi plans to raise up to $5.27 billion through a share placement for business expansion and tech investment. In Japan, private equity firms are targeting the fragmented HR tech market, driven by low interest rates and a focus on governance, despite challenges from competition and global firms.
Indonesia's new sovereign wealth fund, Danantara, has unveiled its advisory team, which includes notable figures such as former Presidents Joko Widodo and Susilo Bambang Yudhoyono, economist Jeffrey Sachs, hedge fund manager Ray Dalio, and former Thai Prime Minister Thaksin Shinawatra. Launched to support a US$900 billion asset management strategy, Danantara aims to drive 8% economic growth by 2029 through the consolidation of state-owned enterprise shares and reinvestment in key sectors like natural resources, AI, energy, and food security. CEO Rosan Roeslani expresses confidence that the high-profile advisory board will enhance market sentiment and job creation.
Warren Buffett, the legendary leader of Berkshire Hathaway, is stepping down at 94, prompting hedge fund manager Bill Ackman to advocate for a new era under Greg Abel, Buffett's chosen successor. Ackman criticizes Buffett's cautious investment style for missing opportunities and believes Abel can enhance operational efficiency. As Buffett's departure looms, uncertainty surrounds Berkshire's future, with Ackman also working to establish his own diversified holding company, Howard Hughes Holdings, aiming to replicate Buffett's success in a modern context.
The Indonesian government plans to inject $20 billion annually into its new sovereign wealth fund, Danantara, during President Prabowo Subianto’s term. Hashim Djojohadikusumo, the president's envoy, announced that Danantara will partner with investors like Ray Dalio’s Bridgewater, potentially managing investments of up to $160 billion through leverage. The initiative has expanded to include all state-owned enterprises and their subsidiaries.
PayPal Holdings, Inc. currently holds a "Moderate Buy" rating with a consensus target price of $90.52. The company reported a quarterly EPS of $1.19, surpassing estimates, and a revenue of $8.37 billion, reflecting a 4.2% year-over-year increase. Institutional investors own 68.32% of the stock, with recent acquisitions indicating strong interest.
Bridgewater Associates, the world's largest hedge fund, is laying off seven percent of its workforce, approximately 90 employees, to maintain flexibility and make room for new talent. Despite achieving double-digit returns, including an 11.3 percent increase for its Pure Alpha macro fund, the firm aims to keep its organization agile. Led by CEO Nir Bar Dea, Bridgewater managed around $160 billion in assets as of July 2024.
In 2010, Laszlo Hanyecz made history by buying two pizzas for 10,000 bitcoins, valued then at $41, but now worth over $1 billion. Wall Street's views on Bitcoin have shifted dramatically, with figures like Larry Fink embracing it as a legitimate asset, while Jamie Dimon remains a staunch critic. Others, like Ken Griffin and Ray Dalio, express mixed feelings, acknowledging Bitcoin's value yet questioning its role in the financial system.
Billionaire Ray Dalio has expressed optimism about Bitcoin's price, contributing to a recent surge, while Ethereum is gaining momentum with a 20% rise in the last month, bolstered by updates enhancing smart contract security. Lunex Network ($LNEX) is gaining traction for its privacy and efficiency, offering low gas fees and a share of annual profits to token holders. With tokens priced at $0.0044, analysts predict a potential 1800% increase in value, attracting both investors and developers.
Ray Dalio
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