These stores will survive the destruction of the American mall, Morgan Stanley’s retail guru says

Kimberly Greenberger, Morgan Stanley’s retail guru, said the department store business model anchored in malls is fundamentally flawed in this online era, yet there is a group of brick-and-mortar retailers that can still thrive. “If a retail store simply sells other people’s brands that’s a business model that’s more at risk … because Amazon and some of the other pure-play retailers can sell other people’s brands potentially better,” Greenberger told Mike Santoli in an exclusive interview for


Kimberly Greenberger, Morgan Stanley’s retail guru, said the department store business model anchored in malls is fundamentally flawed in this online era, yet there is a group of brick-and-mortar retailers that can still thrive.
“If a retail store simply sells other people’s brands that’s a business model that’s more at risk … because Amazon and some of the other pure-play retailers can sell other people’s brands potentially better,” Greenberger told Mike Santoli in an exclusive interview for
These stores will survive the destruction of the American mall, Morgan Stanley’s retail guru says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-03-30  Authors: john melloy
Keywords: news, cnbc, companies, survive, stores, brands, thats, rating, american, inventory, store, retail, mall, destruction, retailers, peoples, morgan, stanleys, guru, real


These stores will survive the destruction of the American mall, Morgan Stanley's retail guru says

Kimberly Greenberger, Morgan Stanley’s retail guru, said the department store business model anchored in malls is fundamentally flawed in this online era, yet there is a group of brick-and-mortar retailers that can still thrive.

“If a retail store simply sells other people’s brands that’s a business model that’s more at risk … because Amazon and some of the other pure-play retailers can sell other people’s brands potentially better,” Greenberger told Mike Santoli in an exclusive interview for CNBC PRO.

But the off-price retailers should do well, she said.

“They really perform an inventory clearance function and most of the brands that need to clear inventory don’t want to see that inventory show up online so there’s a real need for these stores and they serve a real purpose and they also help the brands clear out their mistakes,” she said, noting the firm has a buy rating on Ross Stores and Burlington Stores and an equal-weight rating on TJX because of this trend.

Greenberger is the No. 1-ranked retail analyst on Wall Street according to Institutional Investor and has been covering the industry for 17 years. She also discusses:

Why retail will never be 100 percent online.

Why retail stock valuations have been permanently reset lower.

What the effect will be of a Trump BAT tax.

The interview is exclusively for CNBC PRO subscribers.


Company: cnbc, Activity: cnbc, Date: 2017-03-30  Authors: john melloy
Keywords: news, cnbc, companies, survive, stores, brands, thats, rating, american, inventory, store, retail, mall, destruction, retailers, peoples, morgan, stanleys, guru, real


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Economist Pomboy says stocks are in a bubble, buy gold and bonds

“I think the stock market fits that definition” of a bubble, Pomboy told CNBC’s Mike Santoli in an interview. “As an economist I look at stock market valuation by taking total stock market cap relative to GDP and we’re right back where we were in 2000 at the peak … I struggle with the idea that the stock market has a lot of upside room barring some spontaneous acceleration in growth, which sort of strikes me as unlikely.” Investors should buy gold and Treasurys in order to ride out the coming


“I think the stock market fits that definition” of a bubble, Pomboy told CNBC’s Mike Santoli in an interview.
“As an economist I look at stock market valuation by taking total stock market cap relative to GDP and we’re right back where we were in 2000 at the peak …
I struggle with the idea that the stock market has a lot of upside room barring some spontaneous acceleration in growth, which sort of strikes me as unlikely.”
Investors should buy gold and Treasurys in order to ride out the coming
Economist Pomboy says stocks are in a bubble, buy gold and bonds Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-03-28  Authors: john melloy
Keywords: news, cnbc, companies, stocks, gold, interview, growth, economist, macromavens, pomboy, bonds, market, bubble, buy, stock


Economist Pomboy says stocks are in a bubble, buy gold and bonds

Economist Stephanie Pomboy said she believes the stock market is in a bubble because economic growth will not live up to expectations and because any federal stimulus from President Donald Trump, if it even comes to be, will be mostly canceled out by tax increases and spending cuts on the state and local level.

“I think the stock market fits that definition” of a bubble, Pomboy told CNBC’s Mike Santoli in an interview. “As an economist I look at stock market valuation by taking total stock market cap relative to GDP and we’re right back where we were in 2000 at the peak … I struggle with the idea that the stock market has a lot of upside room barring some spontaneous acceleration in growth, which sort of strikes me as unlikely.”

Pomboy is founder of MacroMavens, a macroeconomic research firm which gave early warnings on the housing crisis. Before founding MacroMavens in 2002, Pomboy worked with Ed Hyman at ISI Group.

Investors should buy gold and Treasurys in order to ride out the coming pullback, Pomboy said.

“I just buy gold. It’s kind of the easy way out on trying to figure out which currency is going to win the ugly contest,” she said.

In this exclusive interview for CNBC PRO, Pomboy also comments on:


Company: cnbc, Activity: cnbc, Date: 2017-03-28  Authors: john melloy
Keywords: news, cnbc, companies, stocks, gold, interview, growth, economist, macromavens, pomboy, bonds, market, bubble, buy, stock


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Looming European political crisis is actually a buying opportunity, Tim Seymour says

Investors around the world, including those in the U.S., are on edge about the political calendar in Europe. The U.K. starts the official Brexit process on March 29. The French presidential election, where a far-right candidate in Marine Le Pen has a small chance to win, takes place in late April. But Tim Seymour believes all this tension is a buying opportunity no matter the outcomes, just like it was for U.S. stocks before the surprise election of Donald Trump. Other topics discussed in this e


Investors around the world, including those in the U.S., are on edge about the political calendar in Europe.
The U.K. starts the official Brexit process on March 29.
The French presidential election, where a far-right candidate in Marine Le Pen has a small chance to win, takes place in late April.
But Tim Seymour believes all this tension is a buying opportunity no matter the outcomes, just like it was for U.S. stocks before the surprise election of Donald Trump.
Other topics discussed in this e
Looming European political crisis is actually a buying opportunity, Tim Seymour says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-03-23  Authors: john melloy
Keywords: news, cnbc, companies, crisis, triogem, political, united, fundamentals, looming, tim, think, buying, european, win, world, election, actually, trumpim, markets, opportunity, seymour


Looming European political crisis is actually a buying opportunity, Tim Seymour says

Investors around the world, including those in the U.S., are on edge about the political calendar in Europe. The U.K. starts the official Brexit process on March 29. The French presidential election, where a far-right candidate in Marine Le Pen has a small chance to win, takes place in late April.

But Tim Seymour believes all this tension is a buying opportunity no matter the outcomes, just like it was for U.S. stocks before the surprise election of Donald Trump.

“I’m not going to be dismissive of the risks, but I think markets have priced them in and if anything as we look at the fundamentals of stock markets around the world, the fundamentals of European equities right now are I think significantly better than they are for the United States,” said the managing partner of Triogem Asset Management and global investing expert on CNBC’s “Fast Money.”

Other topics discussed in this exclusive interview with Mike Santoli for CNBC PRO include:


Company: cnbc, Activity: cnbc, Date: 2017-03-23  Authors: john melloy
Keywords: news, cnbc, companies, crisis, triogem, political, united, fundamentals, looming, tim, think, buying, european, win, world, election, actually, trumpim, markets, opportunity, seymour


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Marc Lasry: Don’t bet on what’s fueling the Trump rally

While standing by his January prediction on CNBC for a 10 percent gain in the S&P 500 this year, billionaire Marc Lasry warned that the Trump rally could falter in 2018. “If you don’t get to that 3 percent, yes, then I think [the market] is a little over bought right now.” Going into 2018, he said, “People are going to start realizing there is real issues out there,” putting the Trump rally in jeopardy. In the near term, the stock market on Wednesday was coming off its worst decline since before


While standing by his January prediction on CNBC for a 10 percent gain in the S&P 500 this year, billionaire Marc Lasry warned that the Trump rally could falter in 2018. “If you don’t get to that 3 percent, yes, then I think [the market] is a little over bought right now.” Going into 2018, he said, “People are going to start realizing there is real issues out there,” putting the Trump rally in jeopardy. In the near term, the stock market on Wednesday was coming off its worst decline since before
Marc Lasry: Don’t bet on what’s fueling the Trump rally Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-03-22  Authors: matthew j belvedere
Keywords: news, games, cnbc, companies, bet, think, growth, months, market, stock, marc, trump, whats, warned, rally, sp, lasry, fueling, 500, dont


Marc Lasry: Don't bet on what's fueling the Trump rally

While standing by his January prediction on CNBC for a 10 percent gain in the S&P 500 this year, billionaire Marc Lasry warned that the Trump rally could falter in 2018.

The stock market has been rising since Election Day on the hope that Donald Trump as president can boost economic growth to 3 percent and provide businesses relief from regulations, the Avenue Capital co-founder said Wednesday on “Squawk Box.” “The market absolutely believes. I think the market has gotten ahead of itself.”

“For the next six months to nine months, everything is pretty positive,” said Lasry, who supported Hillary Clinton, reiterating his call for an S&P 500 return of 10 percent this year.

“I’d like nothing better than to have 3 percent GDP growth. I don’t think that’s going to happen,” he warned, predicting economic growth settling around 1.5 to 2 percent. “If you don’t get to that 3 percent, yes, then I think [the market] is a little over bought right now.”

Going into 2018, he said, “People are going to start realizing there is real issues out there,” putting the Trump rally in jeopardy.

In the near term, the stock market on Wednesday was coming off its worst decline since before the election. On Tuesday, the Dow Jones industrial average saw its biggest decline since September and the S&P 500 had its largest one-session sell-off since October.


Company: cnbc, Activity: cnbc, Date: 2017-03-22  Authors: matthew j belvedere
Keywords: news, games, cnbc, companies, bet, think, growth, months, market, stock, marc, trump, whats, warned, rally, sp, lasry, fueling, 500, dont


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Here’s what Warren Buffett’s hero Jack Bogle is most worried about in the markets right now

Jack Bogle, founder of the Vanguard group and creator of the first index fund, told CNBC PRO he is worried that just three firms — Vanguard, BlackRock and State Street — dominate the passive investing game. He believes more firms need to embrace the passive philosophy and reduce the influence of these companies, including his own. He believes more firms need to embrace the passive philosophy and reduce the influence of these companies, including his own. Overall, Bogle remains concerned about Wa


Jack Bogle, founder of the Vanguard group and creator of the first index fund, told CNBC PRO he is worried that just three firms — Vanguard, BlackRock and State Street — dominate the passive investing game.
He believes more firms need to embrace the passive philosophy and reduce the influence of these companies, including his own.
He believes more firms need to embrace the passive philosophy and reduce the influence of these companies, including his own.
Overall, Bogle remains concerned about Wa
Here’s what Warren Buffett’s hero Jack Bogle is most worried about in the markets right now Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-03-21  Authors: john melloy
Keywords: news, cnbc, companies, firms, heres, told, bogle, hero, warren, buffetts, passive, mutual, companies, vanguard, markets, right, worried, jack, fund


Here's what Warren Buffett's hero Jack Bogle is most worried about in the markets right now

Jack Bogle, founder of the Vanguard group and creator of the first index fund, told CNBC PRO he is worried that just three firms — Vanguard, BlackRock and State Street — dominate the passive investing game. He believes more firms need to embrace the passive philosophy and reduce the influence of these companies, including his own.

He believes more firms need to embrace the passive philosophy and reduce the influence of these companies, including his own.

“I’ve also been in this business so long that I know that when everything looks sweet and easy, you better be worried ’cause the big guy hidden in the back of the room — you can’t see him — huge, strapping guy carrying a sledgehammer and just when you think everything is going fine he takes that sledgehammer back and hits you in the nape of the neck,” Bogle told Mike Santoli in the exclusive interview.

Overall, Bogle remains concerned about Wall Street’s constant habit of putting itself before its customers and that active management mutual fund firms which are also publicly traded will continue to suffer from this conflict of interest.

“The industry structure I think is going to have to change in a more mutual direction where the client comes first and not the investment manager and particularly not the financial conglomerates that own 30 of the 50 largest mutual fund companies,” Bogle said.

Warren Buffett called Bogle a “hero” to him in his annual letter released this year, writing, “If a statue is ever erected to honor the person who has done the most for American investors, the hands down choice should be Jack Bogle.”

On this comment from the “Oracle of Omaha,” Bogle said, “When a hero like Warren calls me a hero, there may be an element of truth in it, but one takes these things with a grain of salt.”

Bogle, 87, also discusses in this nearly 20 minute sit-down:

How much bigger passive investing can get (It’s 22 percent of the market now).

The origin of his index fund idea.

Why some ETFs don’t belong in 401(k)s.

What returns investors can expect over the next decade

To view this interview, you must be a CNBC PRO subscriber.


Company: cnbc, Activity: cnbc, Date: 2017-03-21  Authors: john melloy
Keywords: news, cnbc, companies, firms, heres, told, bogle, hero, warren, buffetts, passive, mutual, companies, vanguard, markets, right, worried, jack, fund


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Gary Vaynerchuk: ‘Insecurity is a killer’ and here’s how to beat it

8:48 AM ET Mon, 13 March 2017To view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again. Marketing expert and self-made millionaire Gary Vaynerchuk explains why confidence is key.


8:48 AM ET Mon, 13 March 2017To view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again. Marketing expert and self-made millionaire Gary Vaynerchuk explains why confidence is key.
Gary Vaynerchuk: ‘Insecurity is a killer’ and here’s how to beat it Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-03-13  Authors: mary stevens
Keywords: news, cnbc, companies, heres, beat, browser, try, selfmade, vaynerchuk, site, enabled, plugin, flash, gary, view, player, insecurity, killer


Gary Vaynerchuk: 'Insecurity is a killer' and here's how to beat it

8:48 AM ET Mon, 13 March 2017

To view this site, you need to have JavaScript enabled in your browser, and either the Flash Plugin or an HTML5-Video enabled browser. Download the latest Flash player and try again.

Marketing expert and self-made millionaire Gary Vaynerchuk explains why confidence is key.


Company: cnbc, Activity: cnbc, Date: 2017-03-13  Authors: mary stevens
Keywords: news, cnbc, companies, heres, beat, browser, try, selfmade, vaynerchuk, site, enabled, plugin, flash, gary, view, player, insecurity, killer


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Vanguard’s chief investment officer, Tim Buckley, on why active investing is a losing game

“Tim” Buckley, Vanguard’s chief investment officer, who is leading the latest wave of passive investing that got started under Vanguard’s founder and former CEO Jack Bogle, joined CNBC PRO for an educational interview on money management and the evolution of investing. “In the ’80s, only about 30 percent of assets were professionally managed, so professionals could go out against amateurs and basically steal alpha. Today you are over 70 percent, getting on 80 percent professionally managed. Now


“Tim” Buckley, Vanguard’s chief investment officer, who is leading the latest wave of passive investing that got started under Vanguard’s founder and former CEO Jack Bogle, joined CNBC PRO for an educational interview on money management and the evolution of investing.
“In the ’80s, only about 30 percent of assets were professionally managed, so professionals could go out against amateurs and basically steal alpha.
Today you are over 70 percent, getting on 80 percent professionally managed.
Now
Vanguard’s chief investment officer, Tim Buckley, on why active investing is a losing game Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-03-07  Authors: giovanny moreano
Keywords: news, cnbc, companies, officer, losing, investment, chief, statistics, money, buckley, tim, investing, game, information, active, vanguards, managed, professionally, pro


Vanguard's chief investment officer, Tim Buckley, on why active investing is a losing game

Mortimer J. “Tim” Buckley, Vanguard’s chief investment officer, who is leading the latest wave of passive investing that got started under Vanguard’s founder and former CEO Jack Bogle, joined CNBC PRO for an educational interview on money management and the evolution of investing.

“In the ’80s, only about 30 percent of assets were professionally managed, so professionals could go out against amateurs and basically steal alpha. Today you are over 70 percent, getting on 80 percent professionally managed. Now you have pro against pro,” Buckley said.

Given the rise of technology over the past three decades, which has facilitated the flow of information, the CIO says active investing is a losing game for most active managers.

“Now I have to be better than someone else who’s got their CFA, their Bloomberg terminal and all the flow of information; they’re watching CNBC; they’ve got all of this information flowing in. … It’s a much tougher game to find alpha,” Buckley said.

The statistics back up this claim, with a recent report from the Financial Times showing that nearly all professional actively managed U.S. equity funds sold in Europe, for example, have underperformed their benchmarks since 2006. Similar statistics are seen in the United States.

In this exclusive conversation with CNBC’s Michael Santoli, Buckley, who helps oversee about $4 trillion in investor assets managed by Vanguard, also discusses:

Why fees and other costs are investors’ biggest enemy.

Trends in money flows and where funds are being deployed.

How to build a portfolio for retirement and beyond.

Investment lessons and principles every market participant must know.


Company: cnbc, Activity: cnbc, Date: 2017-03-07  Authors: giovanny moreano
Keywords: news, cnbc, companies, officer, losing, investment, chief, statistics, money, buckley, tim, investing, game, information, active, vanguards, managed, professionally, pro


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The billionaire who is saving Bethlehem

The streets of Bethlehem are lined with tiny shops, many selling olive wood trinkets and beautifully carved nativity sets, but they are struggling. Bassem Giacaman, one of the shopkeepers, said before the Second Intifada, his shop had revenue of $400,000 a year, and employed 12. Now, it brings in about $100,000 a year, enough to employ three people and earn him a tiny profit, perhaps $10,000. Giacaman has tried to make his shop welcoming for everyone: it carries menorahs, nativity sets, Arabic c


The streets of Bethlehem are lined with tiny shops, many selling olive wood trinkets and beautifully carved nativity sets, but they are struggling. Bassem Giacaman, one of the shopkeepers, said before the Second Intifada, his shop had revenue of $400,000 a year, and employed 12. Now, it brings in about $100,000 a year, enough to employ three people and earn him a tiny profit, perhaps $10,000. Giacaman has tried to make his shop welcoming for everyone: it carries menorahs, nativity sets, Arabic c
The billionaire who is saving Bethlehem Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-03-03  Authors: elizabeth macbride, david silverman, getty images, issam rimawi, anadolu agency
Keywords: news, games, cnbc, companies, church, park, billionaire, nativity, wants, shop, sets, tiny, power, bethlehem, small, projects, saving


The billionaire who is saving Bethlehem

Khoury, who picked up the reigns after his father died in 2014, wants to do everything from spur tourism with a new hotel and new agreements with Israeli bus companies, to helping develop jobs-training programs for students at a local university.

The streets of Bethlehem are lined with tiny shops, many selling olive wood trinkets and beautifully carved nativity sets, but they are struggling. Bassem Giacaman, one of the shopkeepers, said before the Second Intifada, his shop had revenue of $400,000 a year, and employed 12. Now, it brings in about $100,000 a year, enough to employ three people and earn him a tiny profit, perhaps $10,000. In the two weeks since Trump’s announcement, only three people have visited his shop, and he doesn’t know how he will pay his workers, he said.

Still, he stays, he said, because he wants to keep his family’s workshop alive and because he loves the Church of the Nativity. In 1948, the Christian population of the Holy Land was 18 percent; it’s now 2 percent, according to the Holy Land Christian Ecumenical Foundation.

Giacaman has tried to make his shop welcoming for everyone: it carries menorahs, nativity sets, Arabic calligraphy— and welcomes tourists who need to use the toilet. “We just try to open the door and keep things going,” he said.

Khoury said he was in part inspired to continue his father’s work when he talked to people like Giacaman. The Foundation, with the initial donation of $30 million from the Khourys in 2011, is helping the Palestinian government manage the much-lauded restoration of the Church, refurbished Manger Square, where tourist buses park, helped start a small museum, and financed a strategic solid waste management plan for the area. Among it’s long-term plans: a small shopping center and car park, a solar power station that could power small factories, and a small hotel of about 100 rooms.

More from Global Investing Hot Spots:

Who will win the world’s biggest IPO?

A $100 billion global arms race Trump wants to win

Saudi Aramco taps JPMorgan, Morgan Stanley for IPO; HSBC a contender

Some of the projects may be funded via investments – he said he believes some projects could yield 10 percent annually—and some via donations.

Though between 1 and 2 million people visit the Church every year – exact numbers are hard to come by – few stay overnight and little economic benefit comes to the town of about 25,000 people.


Company: cnbc, Activity: cnbc, Date: 2017-03-03  Authors: elizabeth macbride, david silverman, getty images, issam rimawi, anadolu agency
Keywords: news, games, cnbc, companies, church, park, billionaire, nativity, wants, shop, sets, tiny, power, bethlehem, small, projects, saving


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