Daily Archives: September 27, 2021

Call for normalization between Israel and Iraq at historic conference in Erbil – European Jewish Press

Posted: September 27, 2021 at 5:43 pm

Chemi Peres, Chairman of the Peres Center for Peace and Innovation, addressed a rally of 300 Sunni community leaders and activists in Erbil, in Iraqs Kurdistan, calling for normalization with Israel.

The rally, the first such event of its kind, was organized by the New York-based Center for Peace Communications (CPC) this was the first such event of its kind.

Addressing the plenary virtually, Peres used the platform to call to advance the vision of his father, the late Israeli President and statesman Shimon Peres, of normalization and peace across the region. Calling the event historic and inspirational, Chemi Peres sait it was an opportunity to solidify the historical ties between Iraq, or ancient Babylon, and the Jewish people, whose culture was influenced significantly by the ancient Jewish community which once thrived there.

He also noted the recent normalization trends as a model which he hopes can positively impact Israeli-Palestinian relations and the prospects for peace.

Holding such a meeting alongside this initiative serves as an inspiration for many Israelis. As you surely know, many Israelis have deep historical and familial ties to Iraq, my own family included. There exists today, and there will continue to be, a deep connection between those residing in the Holy Land and those living in Iraq, the land of the two rivers, where the historic Jewish text, the Babylonian Talmud was written. This is a text which continues to play an enlightening role in the lives of our people to this day, Peres said.

During the event, Wisam al-Hardan, a Sunni tribe leader from the Anbar province in Iraq, declared: We demand full diplomatic relations with the State of Israel and a new policy of normalization based on peole-to-peope relations with the citzens of that country.

He criticized the law against delaing with Israelis and Zionists, saying it violates the fundamental rights human rights of Iraqis. The so-called ant-normalization law in Iraq are morally repugnant and have been repeateldly exposed by the international community as an assualt on human rights and freedom of expression and association, said al-Hardan.

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Call for normalization between Israel and Iraq at historic conference in Erbil - European Jewish Press

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Simhat Torah was included as a ‘new’ holiday. Could we add more? – The Jerusalem Post

Posted: at 5:43 pm

Israel Independence Day and Jerusalem Day are two of the most recent celebrations added to the Hebrew calendar. Holocaust Remembrance Day is another recent addition mandated by the Knesset. But these days are not universally recognized by all Jewry. We have to go back a thousand years to find a holiday added to the calendar and celebrated by all Jews.

The seven processions with the Torah scrolls, writes Birnbaum, became customary in the 16th century. Simhat Torah became one of the most popular of Jewish holidays despite its late appearance.

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In A History of Judaism, historian Martin Goodman writes: The end of Sukkot was marked by a final eighth day (Shmini Atzeret) on which no work was to be undertaken. In the Diaspora, where two days of the festival were observed, the second day in due course took on a character of its own in celebration of the completion of the annual cycle of the reading of the Torah, and the start of the new cycle with the book of Genesis. This celebration, known as Simhat Torah, is not attested until the beginning of the second millennium CE, but it has become a major festival for Diaspora Jews, with much singing and dancing by the congregation.

In the Land of Israel, Simhat Torah was incorporated into the holiday of Shmini Atzeret, in which the two are celebrated on the same day. It is interesting that the celebration of Simhat Torah had its origins in the Diaspora yet was adopted by the Jews of Israel. It attests to the supremacy of the Babylonian Gaonate and its influence throughout the Jewish world, even in Israel.

Simhat Torah should embolden us to create a meaningful Jewish calendar. If a holiday can be added to the Hebrew calendar millennia after Revelation, why can we not add holidays that address the issues of our own time and be recognized by all Jews? The modern calendar has been partially successful in accomplishing this. But a religion that fails to respond to the watershed events of our own time is a religion that is bound to ossify, calcify, and fail. Jews have to have the strength of our ancestors and not fear modifying the calendar. If Simhat Torah could be incorporated into the Hebrew calendar 1,000 years ago, we can be bold and expand the Hebrew calendar of today.

The writer is rabbi of Congregation Anshei Sholom in West Palm Beach, Florida.

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Simhat Torah was included as a 'new' holiday. Could we add more? - The Jerusalem Post

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Ex-Teacher From UK’s Elite Eton College Embroiled in Controversy After Interview With Antisemite Who Claimed Jews Are ‘Behind Pornography’ -…

Posted: at 5:43 pm

A former teacher from Britains elite Eton College is embroiled in controversy after he conducted a softball interview with a writer who claimed the Jews were always behind pornography among other racist statements.

Online UK news site inews reported that E. Michael Jones made the comments during a YouTube interview hosted by Will Knowland, who taught at Eton before being dismissed after a controversy regarding a lecture widely derided as sexist.

Jones made a series of rambling and vaguely antisemitic comments to Knowland, asserting, among other things, critical race theory is Jews; philosopher Stanley Fish suffered from Jewish animus; talmudic Jewish scholarship led to the demise of literary criticism; the group that took over cinema were the Jews in Hollywood who were using this as a form of control; Americans are upset because the Jews are corrupting the morals; the Jews were always behind pornography; and that opposition to pornography and the sexual revolution was crushed by the Jews, the ADL, who had the counterattack calling anything they didnt like hate speech.

Knowland expressed no objection to Jones antisemitic statements.

September 27, 2021 4:26 pm

The ADL has criticized Jones in the past, saying that he promotes the view that Jews are dedicated to propagating and perpetrating attacks on the Catholic Church and moral standards, social stability, and political order throughout the world.

Knowland said in a statement, Clearly many Jews are aghast at pornography, but suppressing discussion is not healthy. Accordingly, Jewish involvement in pornography has been discussed in the Jewish Quarterly.

People should be free to make up their own minds about Dr. E. Michael Jones statements, he said, and if Jones is mistaken in his views, giving them a platform is the best way to expose those mistakes.

Knowland was fired from his teaching position at Eton when he posted a lecture to YouTube that said patriarchy is, rather than being merely socially constructed, partly based in biology and biologically speaking, the idea that men exert power over women is nonsense.

Women, he added, exploit their power of sexual choice to get males to compete to do things for them.

Knowland condemned his dismissal as an attack on his freedom of speech.

Ex-Teacher From UK's Elite Eton College Embroiled in Controversy After Interview With Antisemite Who Claimed Jews Are 'Behind Pornography' -...

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Yahoo has built a new calendar app called Day, and its recruited the co-founder of Sunrise to design it – TechCrunch

Posted: at 5:42 pm

When it comes to online calendars and calendar apps, services like Google Calendar and Outlook from Microsoft rule the roost with hundreds of millions of users globally. Now another company is hoping to ruffle some feathers with its own move into the space. TechCrunch has learned and confirmed that Yahoo is working on Day, a new standalone calendar app.

The company brought on Jeremy Le Van who co-founded another calendaring app, Sunrise, and eventually sold it to Microsoft for over $100 million to make it the backbone of Microsofts own very popular calendar platform in Outlook to consult on designing it.Many lamented the sunset of Sunrise; now it looks like they might have a shot at getting Sunrise 2.0, so to speak although to be clear, Le Van was not working at Yahoo full time, but acting as a consultant, and he is no longer on the project.

(Disclaimer: Yahoo is owned by the same company as TechCrunch.)

We are exploring different ways to better serve consumers and that includes new ideas around mobile-first time management, calendar and events, a Yahoo spokesperson said in response to our question.

The service is currently in an invite-only closed alpha as it gears up for a bigger launch (you can also sign up on the site).

Calendars serve as the backbone for how many of us organize our days, whether its for work or leisure. And arguably, the more our activities, and the planning of them, move to digital platforms, the more powerful calendars can become, too.

This means that for platforms, having a calendar feature or app as part of a bigger service is a good way of keeping users engaged on the wider platform, and its a way for the platform to glean more knowledge about user behavior. Googles Calendar, for example, is very tightly, and often automatically, integrated with its wider suite of productivity and information services, giving the company one more spoke in its wheel to keep users sticking around.

And its not only Yahoo that might be interested in doing more here. Facebook acquired Redkix in 2018 allegedly to bring more calendar and other productivity tools to Workplace. In the end, Workplace integrates with existing offerings from third parties, and so it doesnt have its own standalone calendar app. Facebook also doesnt have a standalone calendar feature in the main consumer app, either. But with people planning so much else on Facebooks properties (not just through Events on Facebook, but across Instagram, WhatsApp and Messenger), it seems that its an area it could feasibly still expand into at some point.

Yahoo itself, in fact, already has a pared-down calendar widget that you can access through Yahoo Mail. Its not clear how popular it is, especially since its very easy these days to integrate ones email to most other calendar apps.

The question, then, will be how Day might hope to differentiate itself, and how it will hope to compete.

From what we understand, in contrast to how Google, Microsoft or even Yahoo itself currently integrate calendar features into their wider productivity suites, this isnt the approach that Yahoo is taking with Day.

The app is being built by people in its Mail team, but its being treated like a startup in the operation, weve heard, and has been given license to develop it independently: it has no special Yahoo branding, nor with any Yahoo integrations whatsoever. The plan is to keep it separate, not unlike the many calendar apps like Sunrise once was that exist in app stores, and make it something that can integrate with whatever other email or other tools that a person users. Over time there also may be efforts to use Mail which still has around 200 million users to help market Day.

The move underscores how Yahoo which has effectively lost out to Google in areas like search, email, video and advertising believes that with the right approach, there is still room for more innovation in this crowded market, even as it has a number of misses in its history of trying to do just that in other areas, like messaging.

But as we noted in a recent story about Calendly a $3 billion startup thats proven to be a big hit with people who need to schedule meetings calendar apps can be challenging for another reason. They are well-used, yes, but also somewhat under the radar: calendars are never the destination for a person, just a place to mark when, how and with whom you will get there. Can there be more ways of enhancing that basic functionality?

Yahoo seems to believe there are, and that people will want to use an app that does so.

Updated and corrected to clarify that Le Van is not working at Yahoo but came on as a consultant on the app and is no longer involved.

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Yahoo has built a new calendar app called Day, and its recruited the co-founder of Sunrise to design it - TechCrunch

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Why the Roth 401(k) is the unsung hero of retirement plans – Yahoo Finance

Posted: at 5:42 pm

One retirement savings vehicle doesnt get the attention it deserves, according to one financial expert.

The Roth 401(k) is the unsung hero, if you will, of your retirement plan, Sun Group Wealth Partners Managing Director Winnie Sun recently told Yahoo Finance Live, especially for her clients whose "No. 1 goal" is to have tax-free savings in retirement.

A Roth 401(k) is an employee-sponsored retirement plan that allows you to contribute after-tax earnings versus pre-tax earnings in a traditional 401(k). About 70% of employers offer this option in their 401(k) plan, according to Sun.

Sun called the Roth 401(k) one of her favorite avenues of saving for retirement because of its ability to allow contributions to grow entirely tax-free and spared from capital gains taxes, as long as account holders are able to make it to 59 and a half without making a single withdrawal.

One of the best things about the Roth 401(k) is it's kind of uncontroversial, she said. [It] doesn't matter how much you earn, even if you're at that high tier, you can contribute to that plan.

The Roth 401(k) is the unsung hero, if you will, of your retirement plan, Sun Group Wealth Partners managing director Winnie Sun recently told Yahoo Finance Live. (Photo: Getty)

That's a key difference from a Roth IRA, which comes with income limitations for contributing. But those who exceed those income thresholds can still do a backdoor Roth IRA, Sun said, where you convert a traditional IRA into a Roth IRA after paying taxes upfront. Traditional IRAs don't have income limitations.

That strategy can open up your investment options, Sun said.

You can definitely do both your 401(k) at work, as well as your IRA, she said. You can pick certain investments that you're more passionate about to also piggyback on that Roth 401(k) at work.

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Sun advises her clients to have a balanced approach to investing. For investors who gravitate toward a more conservative financial approach, Sun encourages a higher degree of fixed income or even cash reserves, but warned of the risk of not being able to keep up with inflation returns.

Personally, I like to see a good percentage of growth equity, so that way you have a potential for greater gain, she said.

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Stephanie is a reporter for Yahoo Money and Cashay, a new personal finance website. Follow her on Twitter @SJAsymkos.

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Microns Earnings to More Than Double in Q4, Revenue to Jump Over 30% – Yahoo Finance

Posted: at 5:42 pm

The worlds leading semiconductor manufacturer, Micron Technology, is expected to report its fiscal fourth-quarter earnings of $2.33 per share, representing year-over-year growth of more than 115% from $1.08 per share seen in the same quarter a year ago.

The semiconductor company is expected to post revenue growth of over 30% to around $8.2 billion from a year earlier.

According to ZACKS Research, for the fiscal fourth quarter, the company forecasts revenues of $8.2 billion (+/- $200 million). Micron expects a non-GAAP gross margin of 47% (+/-100bps) for its fiscal fourth quarter. Non-GAAP operating expenses are likely to reach $900 million (+/-$25 million). The adjusted earnings per share are expected to be $2.30 (+/-10 cents).

Micron Technology shares closed nearly flat at $74.05 on Friday.

While the underlying demand trends are strong and producer inventory levels are low heading into a period of seasonal strength, there are some signs of inventory adjustments short term after customers-built inventory, noted Joseph Moore, Equity Analyst at Morgan Stanley.

We see demand growth on the back of seasonality, memory elasticity/higher content per unit, and low customer inventories, and very slow supply growth in DRAM given declines in capex. We continue to believe that memory stocks have a relatively well-defined earnings cycle, though highs and lows are likely to be better than they have been historically.

Twenty-one analysts who offered stock ratings for Micron Technology in the last three months forecast the average price in 12 months of $109.41 with a high forecast of $165.00 and a low forecast of $75.00.

The average price target represents a 47.75% change from the last price of $74.05. From those 21 analysts, 16 rated Buy, five rated Hold while none rated Sell, according to Tipranks.

Morgan Stanley gave the base target price of $75 with a high of $120 under a bull scenario and $40 under the worst-case scenario. The firm gave an Equal-weight rating on the semiconductor manufacturers stock.

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Several other analysts have also updated their stock outlook. BMO slashed the price target to $105 from $110. Mizuho cut the target price to $97 from $107. JPMorgan lowered the target price to $100 from $140.

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Microns Earnings to More Than Double in Q4, Revenue to Jump Over 30% - Yahoo Finance

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Billionaire Ray Dalio is Buying These 10 Stocks – Yahoo Finance

Posted: at 5:42 pm

In this article, we reviewed Bridgewater Associates founder Ray Dalio's portfolio adjustment strategies to cope up with the market volatility. We also discussed the top ten stocks billionaire Ray Dalio is buying. You can skip our detailed discussion and jump directly to Billionaire Ray Dalio is Buying These 5 Stocks.

Raymond Thomas Dalio's $223 billion Bridgewater Associates is ranked among the world's best and largest hedge funds. The 72-year-old investor has invented many commonly used financial practices, such as global inflation-indexed bonds, currency overlay, portable alpha, and risk parity. Born in New York City, Dalio founded Bridgewater Associates in 1975 in his apartment and has served as co-chief investment officer since 1985. LCH Investments ranks Dalio as the best hedge fund manager of all time, with net gains of $46.5 billion since inception.

Currently, the fund is looking to hold positions in well-established companies with strong business models and strong cash generation potential. Dalio's firm, which lost $12.1 billion in 2020, has poured in billions of dollars of investments in consumer staple, consumer discretionary, healthcare, and communication stocks. Last year, investing in financial stocks, debt securities, and exchange-traded funds caused losses for this American billionaire, who is ranked 88th on the Forbes list of wealthiest people with a net worth of around $20 billion.

His hedge fund, which held $15.58 billion in 13F securities, ended the second quarter with only 23% of the portfolio in the financial sector compared to 81% at the end of 2019. During the second quarter, one of the most successful hedge fund managers doubled down his investments in top consumer discretionary holdings including Starbucks Corporation (NASDAQ:SBUX), Costco Wholesale Corporation (NYSE:COST), and McDonald's Corporation (NYSE:MCD).

Ray Dalio also significantly increased his positions in Procter & Gamble Co (NYSE:PG), Johnson & Johnson (NYSE:JNJ), Walmart Inc. (NYSE:WMT) and PepsiCo, Inc. (NASDAQ:PEP) during the second quarter.

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At the end of the second quarter, Ray Dalio held $736 million worth of position in Walmart Inc. (NYSE:WMT), which is his largest stock holding. Procter & Gamble Co (NYSE:PG) is the second-largest stock holding of Bridgewater Associates. Johnson & Johnson (NYSE:JNJ) is ranked third and PepsiCo, Inc. (NASDAQ:PEP) is ranked fifth in the list of top stocks Ray Dalio is buying.

Ray Dalio of Bridgewater Associates

Why should we pay attention to Ray Dalio's stock picks? Insider Monkeys research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 86 percentage points since March 2017. Between March 2017 and July 2021 our monthly newsletters stock picks returned 186.1%, vs. 100.1% for the SPY. Our stock picks outperformed the market by 86 percentage points (see the details here). Thats why we believe hedge fund sentiment is an extremely useful indicator that investors should pay attention to. You can subscribe to our free newsletter on our homepage to receive our stories in your inbox.

Let's start digging into the 10 stocks billionaire Ray Dalio is buying.

Ray Dalio's Bridgewater Associates Stake Value: $230 million

Bridgewater Associates 13F Portfolio: 1.48%

Number of Hedge Fund Holders: 78

Billionaire Ray Dalios confidence in Danaher Corporation (NYSE:DHR) appears to be working as shares of the health care equipment maker surged 46% so far this year. In the second quarter, Bridgewater lifted its existing stake in Danaher Corporation (NYSE:DHR) by 93% to 857,833 shares. In addition to share price gains, Danaher Corporation (NYSE:DHR) offers a quarterly dividend of $0.21 per share, yielding around 0.26%.

In the Q2 2021 investor letter of Cooper Investors, the fund mentioned Danaher Corporation (NYSE:DHR) and discussed its stance on the firm. Here is what Cooper Investors stated about Danaher Corporation (NYSE:DHR):

During the quarter the Funds largest holding Danaher made a notable acquisition, spending US$9bn (~5% of its market cap) to buy privately held Aldevron, a leading player in the fast growing field of genomic medicine. Over the years Danaher has built up a unique portfolio of life science and diagnostic assets. Their key life sciences businesses involve providing the tools and services to research, develop and manufacture biotech drugs. For example, they are a key provider to over 400 COVID vaccine and therapeutic projects globally.

Aldevron expands Danahers capability into gene therapy. Aldevron is a supplier of key ingredients for the next generation of therapies, namely cell and gene therapy and mRNA vaccines. Aldevron is the leader in these fields and this deal puts Danaher in pole position to participate in the wave of innovation occurring in this space.

The acquisition multiple is high Danaher are paying US$9bn for what today is a US$500m revenue business but growing 30% a year with 40% operating margins, in our view justifying the high price. Importantly, management can see an investment return in line with recent acquisitions. As a reminder Danahers history and skill set is acquiring businesses, it is how the company has been successfully built over 35 years. The shares were up 4% on the news and have gained nearly 20% for the quarter. Most companies would be sold down off the back of an announcement like this but Danaher has a long multi decade track record of successful acquisitions and this fits a similar enough pattern.

The opportunity is to grow Aldevron into a multibillion dollar business given the growth in genomics and RNA innovation thats occurring and as more of these types of therapeutics become approved. Overall as a key supplier with deep global networks across life sciences and medical research Danaher is very well placed to continue growing with the innovation in biotech and diagnostic markets. It remains an incredibly well run company and a high conviction investment in the Fund.

Ray Dalio's Bridgewater Associates Stake Value: $234 million

Bridgewater Associates 13F Portfolio: 1.50%

Number of Hedge Fund Holders: 63

Starbucks Corporation (NASDAQ:SBUX) is among the best dividend-paying companies. At present, Starbucks Corporation (NASDAQ:SBUX) offers a dividend yield of 1.80%. Starbucks Corporation (NASDAQ:SBUX) shares surged 30% in the last twelve months, thanks to robust financial growth and a strong outlook.

In the Q2 2021 investor letter, Polen Capital mentioned a few stocks including Starbucks Corporation (NASDAQ:SBUX). Here is what Polen Capital stated about Starbucks Corporation (NASDAQ:SBUX).

For Starbucks, we believe the underlying businesses for the company remain strong. Starbucks has grappled with the impact of the pandemic, but results have continued to show an ongoing post-pandemic recovery.

Ray Dalio's Bridgewater Associates Stake Value: $321 million

Bridgewater Associates 13F Portfolio: 2.06%

Number of Hedge Fund Holders: 146

Bridgewater Associates raised its stake in the largest Chinese e-commerce platform Alibaba Group Holding Limited (NYSE:BABA) by 2% to 1.41 million shares, according to the second-quarter filings. Alibaba Group Holding Limited (NYSE:BABA) shares fell sharply this year due to regulatory concerns.

According to Semper Vic Partners' investor letter for Q2 2021, Alibaba Group Holding Limited (NYSE:BABA) is one of the firm's top holdings. Here is what Semper Vic Partners' stated about Alibaba Group Holding Limited (NYSE:BABA).

It is hard to believe that it was over eight months ago that I wrote about our new investment which we had initiated late last year, Alibaba. As I mentioned at the time, I had long admired the access Alibaba provides Western investors across a host of consumer products companies to Chinese commerce and economy.

Alibaba has long provided exposure to Chinas foremost commerce hubs, especially through the form of Taobao and Tmall (especially its Luxury Pavilion collections). With roughly one billion Chinese average annual consumers and roughly 260 million additional consumers outside of China, it is hard to imagine shopping in China without involvement in one manner or another with Alibaba.

Alibabas focus on serving the needs of both merchants and consumers alike has allowed it to deliver its e-commerce at amongst the lowest take rate of any leading retailers. Alibaba also provides investors access to Chinas leading cloud business. Alibaba, in efforts to be transparent, has reported its cloud segment separately since 2017.

By reporting cloud results separately, Alibaba allows investors to measure the substantial extent to which Alibaba has exercised both the capacity to reinvest as well as Alibabas managements capacity to suffer. Alibabas management team enjoys the capacity to suffer as the result of protection from Wall Streets disruptive censures as a result of protection provided them by Alibabas founding shareholder, Jack Ma.

During decades of Alibabas greatest growth, Mr. Ma evidenced a preference for taking on projects which, more often than not, eroded reported profits as investments he selected for greatest long-term growth in intrinsic value on a per share basis burdened reported profits in the near term.

In addition to attractive businesses which possessed the ability to reinvest internally, Alibaba was well capitalized. In late 2020, as we sized up our potential investment interest in Alibaba, we realized that Alibaba had a rock-solid balance sheet and financials in general. Not only did Alibaba have nearly $71 billion in cash and short-term securities within the company, but they also had investments in a portfolio of over 100 independent, digitally disruptive start-up companies. While most start-up investments are in Chinese companies, there are portfolio companies that also include non-Chinese start-up businesses. Finally, Alibaba currently has over a 30 percent interest in Ant Financial, which at the time of our initial investment research had been recently valued at over $300 billion of estimated value (Click here to see the full text)

Ray Dalio's Bridgewater Associates Stake Value: $322 million

Bridgewater Associates 13F Portfolio: 2.07%

Number of Hedge Fund Holders: 66

McDonald's Corporation (NYSE:MCD) is ranked sixth in the list of stocks Ray Dalio is buying. His hedge fund lifted its position in McDonald's Corporation (NYSE:MCD) by 48% to $322 million worth of shares, according to the second quarter 13F filings. McDonald's Corporation (NYSE:MCD) shares have surged 13% so far this year.

Ray Dalio's Bridgewater Associates Stake Value: $333 million

Bridgewater Associates 13F Portfolio: 2.14%

Number of Hedge Fund Holders: 54

Bridgewater Associates increased its position in Costco Wholesale Corporation (NYSE:COST) by 49% to 2.14% of the entire portfolio. At the end of the second quarter, Bridgewater Associates held $333 million worth of shares of Costco Wholesale Corporation (NYSE:COST), making it the fifth-largest stock holding of Dalio. Costco Wholesale Corporation (NYSE:COST) shares soared 32% since the beginning of this year and the company currently offers a dividend yield of 0.69%.

Costco Wholesale Corporation (NYSE:COST) is among the top contributors to Ray Dalios portfolio performance this year. Other best-performing stocks include Starbucks Corporation (NASDAQ:SBUX), Danaher Corporation (NYSE:DHR), and McDonald's Corporation (NYSE:MCD).

The number of long hedge fund bets dropped by 2 in recent months. Costco Wholesale Corporation (NASDAQ:COST) was in 54 hedge funds portfolios at the end of June.

Click to continue reading and see Billionaire Ray Dalio is Buying These 5 Stocks.

What is the debt ceiling? Yahoo U explains. – Yahoo Finance

Posted: at 5:42 pm

For more business and finance explainers, check out our Yahoo U page.

For the federal government, raise the roof is anything but fun it means things could spiral into disaster.

It all concerns a legislative feature that has existed in American politics for over 100 years: the debt ceiling.

As a mechanism to enforce prudence over government spending, Congress establishes a statutory limit on the amount of money that the federal government owes.

When the government breaches that limit, the U.S. Treasury cannot raise more cash. Failure to pay the bills could then lead to default.

For the worlds largest economy, defaulting on the debt would not only be a domestic crisis, but a global one. During the 2021 debt ceiling debacle, Treasury Secretary Janet Yellen said a failure to raise the debt ceiling would trigger widespread economic catastrophe.

The debt ceiling was first enacted in 1917 and establishes an aggregate limit on the amount that the U.S. government is allowed to borrow.

The debt ceiling is not the same as a budget resolution; it does not determine the volume of government spending or the nature of government spending.

For example, a Congress that has already appropriated money (for example, to defense spending or Social Security) will still need the U.S. Treasury to raise the funds to finance those projects even if doing so would breach the debt ceiling.

Congress has historically acknowledged the limited upside and catastrophic downside of refusing to raise the debt ceiling. Legislators have commonly voted on a bipartisan basis to raise the debt ceiling when the total debt appears close to the statutory limit.

The U.S. Treasury says that since 1960, Congress has moved 78 separate times to permanently raise, temporarily extend, or revise the definition of the debt limit.

Congress has had a history of avoiding a breach in the debt ceiling, often times supporting a change in the statutory limit on a bipartisan basis. Source: U.S. Office of Management and Budget, The Washington Post

When the debt exceeds the statutory limit, the U.S. Treasury cannot issue more debt to finance existing obligations.

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For the U.S. government, those obligations often look like payments to bondholders that own Treasury securities (i.e. a 10-year U.S. Treasury). Those bondholders effectively lend to the government on the promise of being paid interest (i.e. coupon payments).

If the Treasury cannot raise more funds, it may not be able to make payments on those bonds. If payments are missed, the credit rating on the U.S. government could fall.

The debt ceiling was first enacted in 1917. Photo taken in Washington, D. C., United States Credit: Getty

As one of the most liquid markets in the world, disruption in the market for U.S. Treasuries would quickly spillover into global markets.

Although it did not lead to a default, a heated debt ceiling debate in 2011 pushed credit rating agency Standard & Poors to downgrade the U.S. from AAA (the safest rating) to AA+. As of 2021, the U.S. still had not been upgraded back to AAA.

The U.S. Treasury has extraordinary measures it can deploy to pay its bills even after a debt ceiling is breached.

For example, the Treasury can suspend daily reinvestment into the thrift savings plans for federal employees or draw down on a reserve known as the Exchange Stabilization Fund.

But those measures can only stave off a default for so long. In 2021, the U.S. breached the debt ceiling on Aug. 1, and estimates were that those extraordinary measures could only bridge the governments bills through October or November.

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Rolls-Royce to Sell ITP Aero Unit to Bain for $2 Billion – Yahoo Finance

Posted: at 5:42 pm

(Bloomberg) --

These Are The 10 Most Profitable Companies In Missouri – Yahoo Finance

Posted: at 5:42 pm

Missouri's economy rests primarily on industries, with Aerospace and transportation equipment being the main industries. Other popular industries in the state are fabricated metals, chemicals, printing and publishing, food products and electrical equipment. It is the only state in the Union with two Federal Reserve Banks, one in St. Louis and the other in Kansas City. Lets take a look at the 10 most profitable companies in Missouri.

Q2 2021 hedge fund letters, conferences and more

We have used the latest available revenue numbers to rank the 10 most profitable companies in Missouri. Following are the 10 most profitable companies in Missouri:

Founded in 1890, the company offers securities brokerage, investment advisory, investment banking, trading and related financial services. Stifel Financial Corp (NYSE:SF) has the following business segments: Global Wealth Management, Institutional Group, and Other. Its shares are up more than 100% in the past one year and almost 1% in the past one month. Stifel Financial has its headquarters in St. Louis, and employs over 8,000 people.

Founded in 1979, this company makes, markets, installs and supports hardware and content solutions for health care organizations and consumers. Cerner Corporation (NASDAQ:CERN) also offers value-added services, such as health care data analysis, transaction processing and more. The company has the following business segments: Domestic and International. Its shares are up more than 1% in the past one year but are down over 4% in the past one month. Cerner has its headquarters in North Kansas City, Mo. and employs over 27,000 people.

Founded in 1887, it is a transportation holding company that focuses on growing the north or south freight corridor connecting important commercial and industrial markets in the central U.S. with Mexico. Kansas City Southern (NYSE:KSU) also deals in the freight rail transportation business. Its shares are up more than 45% in the past one year but are down over 7% in the past one year. Kansas City Southern has its headquarters in Kansas City, Mo. and employs over 7,000 people.

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Founded in 2017, it is a holding company that offers electricity through its subsidiaries. Evergy Inc (NYSE:EVRG) focuses on the regulation of electric utilities and development of electric transmission projects. Its shares are up more than 25% in the past one year but are down over 7% in the past one month. Evergy has its headquarters in Kansas City, Mo. and employs over 4,000 people.

Founded in 1902, it is a public utility holding company that deals in the provision of electric and natural gas services. Ameren Corp (NYSE:AEE) has the following business segments: Ameren Transmission, Ameren Missouri, Ameren Illinois Natural Gas, Ameren Illinois Electric Distribution and Other. Its shares are up more than 6% in the past one year but are down over 5% in the past one month. Ameren has its headquarters in St. Louis, and employs over 9,000 people.

Founded in 1973, it is a holding company that offers traditional and non-traditional life and health reinsurance products. Reinsurance Group of America Inc (NYSE:RGA) has the following business segments: Canada; Europe, Middle East, and Africa; U.S. and Latin America; Asia Pacific; and Corporate and Other. Its shares are up more than 13% in the past one year and are down over 4% in the past one month. Reinsurance Group of America has its headquarters in Chesterfield, Mo. and employs over 3,000 people.

Founded in 1997, it is a financial services firm that serves investment clients in the U.S. and Canada. Edward Jones focuses primarily on individual investors and small-business owners. It is a private company that has its headquarters in St. Louis, and has over 48,000 employees.

Founded in 1984, it is a healthcare enterprise that deals in the provision of programs and services to government sponsored healthcare programs. Centene Corp (NYSE:CNC) has the following business segments: Managed Care and Specialty Services. Its shares are up more than 13% in the past one year and are down almost 1% in the past one month. Centene has its headquarters in St. Louis and has over 56,000 employees.

Founded in 1957, this company distributes and retails automotive aftermarket parts, equipment, accessories, tools and supplies. O'Reilly Automotive Inc (NASDAQ:ORLY) serves both do-it-yourself customers and professional installers. Its shares are up more than 36% in the past one year and over 4% in the past one month. O'Reilly Automotive has its headquarters in Springfield, Mo. and has over 67,000 employees.

Founded in 1890, it is a technology and engineering company that offers solutions in commercial, residential and industrial markets. Emerson Electric Co. (NYSE:EMR) has the following business segments: Climate Technologies, Tools and Home Products, and Automation Solutions. Its shares are up more than 46% in the past one year and are down over 8% in the past one month. Emerson Electric has its headquarters in St. Louis and has over 85,000 employees.

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These Are The 10 Most Profitable Companies In Missouri - Yahoo Finance

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Daily Archives: September 27, 2021

Call for normalization between Israel and Iraq at historic conference in Erbil – European Jewish Press

Simhat Torah was included as a ‘new’ holiday. Could we add more? – The Jerusalem Post

Ex-Teacher From UK’s Elite Eton College Embroiled in Controversy After Interview With Antisemite Who Claimed Jews Are ‘Behind Pornography’ -…

Yahoo has built a new calendar app called Day, and its recruited the co-founder of Sunrise to design it – TechCrunch

Why the Roth 401(k) is the unsung hero of retirement plans – Yahoo Finance

Microns Earnings to More Than Double in Q4, Revenue to Jump Over 30% – Yahoo Finance

Billionaire Ray Dalio is Buying These 10 Stocks – Yahoo Finance

What is the debt ceiling? Yahoo U explains. – Yahoo Finance

Rolls-Royce to Sell ITP Aero Unit to Bain for $2 Billion – Yahoo Finance

These Are The 10 Most Profitable Companies In Missouri – Yahoo Finance

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