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


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

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


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post