Cramer shares a no-brainer investing strategy

CNBC’s Jim Cramer sees far too many investors ignoring a simple formula that has kept him level-headed during his years on Wall Street. The stock of United Technologies is down to $109 from $120 as of Tuesday’s close because the defense contractor will acquire Rockwell Collins, an airplane component maker. “Here’s my theory about United Technologies: as its stock has come down, wouldn’t you know it? At $22 a share, Cramer thinks Macy’s shares have finally baked in the weakness. Sometimes there’s


CNBC’s Jim Cramer sees far too many investors ignoring a simple formula that has kept him level-headed during his years on Wall Street. The stock of United Technologies is down to $109 from $120 as of Tuesday’s close because the defense contractor will acquire Rockwell Collins, an airplane component maker. “Here’s my theory about United Technologies: as its stock has come down, wouldn’t you know it? At $22 a share, Cramer thinks Macy’s shares have finally baked in the weakness. Sometimes there’s
Cramer shares a no-brainer investing strategy Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-09-12  Authors: elizabeth gurdus
Keywords: news, games, cnbc, companies, cramer, shares, stocks, nobrainer, united, thats, technologies, investing, strategy, stock, price, think, cheaper, money


Cramer shares a no-brainer investing strategy

CNBC’s Jim Cramer sees far too many investors ignoring a simple formula that has kept him level-headed during his years on Wall Street.

“Newsflash: stocks, by and large, do get cheaper when they go lower. Call me captain obvious for pointing it out, but I think this commonsense wisdom often gets ignored when we’re analyzing stocks on a day-to-day basis,” the “Mad Money” host said.

Cramer was reminded of the phrase on Tuesday, when Apple launched an array of new products, including a special-edition iPhone X for the 10th anniversary of the first iPhone release.

He was amazed that he kept hearing people asking each other if they would upgrade and being receptive to the new model instead of balking at the $999 price tag.

“I haven’t heard anyone say, ‘Nah, I just bought the [iPhone] 7.’ I’m either hearing, ‘Yes, I’ll upgrade,’ or ‘I hope someone will buy it for me,'” Cramer said. “That’s incredible. That’s what I call consumer product amore. It’s the most beloved device I can remember.”

But it wasn’t that long ago when Apple shares took a nosedive from $131 in May 2015 to $92 in May 2016, and CEO Tim Cook came on “Mad Money” to clear the air about the stock market’s premature assumptions about what turned out to be a successful product transition.

“In short, this was a stock that got cheaper as it went down, and if you bought it in the $90s after Cook spoke to us, well, you made a ton of money,” Cramer said.

Other examples of this theory abound. The stock of United Technologies is down to $109 from $120 as of Tuesday’s close because the defense contractor will acquire Rockwell Collins, an airplane component maker.

While the $23 billion price of the cash-and-stock deal is higher than Wall Street would like, Cramer compared it to when United Technologies bought Goodrich six years ago for $18 billion. Back then, the stock shed about 10 basis points in response. This time, it also shed about 10 points.

“Is it wrong to ask if history could be repeating itself?” Cramer wondered. “Here’s my theory about United Technologies: as its stock has come down, wouldn’t you know it? It’s gotten cheaper. You might think that’s so self-evident it’s not even worth mentioning, but because of the decline, investors are running away from the stock, not towards it, as if United Technologies has somehow gotten more expensive. It hasn’t, and I think we’ll look back on this as a great buying opportunity.”

Unfortunately, not every stock is beholden to this commonality. The stock of Macy’s failed to price in the massive decline in retail from when it cost $60 a share through its decline. At $22 a share, Cramer thinks Macy’s shares have finally baked in the weakness.

“Here’s the bottom line, though: don’t sneer at every stock that goes lower. Sometimes there’s more pain ahead as stocks get even cheaper because of fear or ignorance, but remember the winners,” Cramer said. “I think when you do, you’ll look back and recall ‘buy low, sell high.’ Great investment strategy. Who would’ve thunk it?”


Company: cnbc, Activity: cnbc, Date: 2017-09-12  Authors: elizabeth gurdus
Keywords: news, games, cnbc, companies, cramer, shares, stocks, nobrainer, united, thats, technologies, investing, strategy, stock, price, think, cheaper, money


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Amazon execs want second HQ in Boston, says report

Amazon is publicly seeking a home for its second headquarters, and a report from Bloomberg on Tuesday says some execs are already pushing for Boston. The execs reportedly like that Boston is near prestigious schools like MIT and Harvard, which would no doubt help to fill its ranks with highly educated alums with different areas of expertise, whether engineering or the arts. In CNBC’s own analysis of where Amazon might put its new HQ, Boston was ranked fifth. Boston has its own train line but is


Amazon is publicly seeking a home for its second headquarters, and a report from Bloomberg on Tuesday says some execs are already pushing for Boston. The execs reportedly like that Boston is near prestigious schools like MIT and Harvard, which would no doubt help to fill its ranks with highly educated alums with different areas of expertise, whether engineering or the arts. In CNBC’s own analysis of where Amazon might put its new HQ, Boston was ranked fifth. Boston has its own train line but is
Amazon execs want second HQ in Boston, says report Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-09-12  Authors: todd haselton
Keywords: news, games, cnbc, companies, transit, report, boston, win, near, train, thats, upread, execs, amazon, second, hq, bloomberg


Amazon execs want second HQ in Boston, says report

Amazon is publicly seeking a home for its second headquarters, and a report from Bloomberg on Tuesday says some execs are already pushing for Boston.

The execs reportedly like that Boston is near prestigious schools like MIT and Harvard, which would no doubt help to fill its ranks with highly educated alums with different areas of expertise, whether engineering or the arts.

In CNBC’s own analysis of where Amazon might put its new HQ, Boston was ranked fifth.

The city is also near an airport, one of Amazon’s other requirements, and along public transit. Boston has its own train line but is also close to Amtrak for easy access to the rest of the northeast seaboard.

This doesn’t mean Boston is going to win out, but it sounds like some execs inside certainly hope that’s where Amazon ends up.

Read the full story on Bloomberg.


Company: cnbc, Activity: cnbc, Date: 2017-09-12  Authors: todd haselton
Keywords: news, games, cnbc, companies, transit, report, boston, win, near, train, thats, upread, execs, amazon, second, hq, bloomberg


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Apple stock falls on disappointment about iPhone X release date

Apple stock fell amid disappointment the company will not begin taking orders on its much-anticipated iPhone X model until October. Traders said there were expectations its 10th anniversary iPhone X, which Apple priced at $999, would begin shipping shortly, though there was speculation it was in short supply. In a statement, Apple said: “When we issued guidance for Q4 in July, we anticipated that the iPhone X would begin shipping in fiscal Q1.” It is not unusual for Apple stock to run up ahead o


Apple stock fell amid disappointment the company will not begin taking orders on its much-anticipated iPhone X model until October. Traders said there were expectations its 10th anniversary iPhone X, which Apple priced at $999, would begin shipping shortly, though there was speculation it was in short supply. In a statement, Apple said: “When we issued guidance for Q4 in July, we anticipated that the iPhone X would begin shipping in fiscal Q1.” It is not unusual for Apple stock to run up ahead o
Apple stock falls on disappointment about iPhone X release date Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-09-12  Authors: patti domm
Keywords: news, games, cnbc, companies, phone, release, disappointment, date, begin, shipping, lower, stock, falls, unveiling, iphone, priced, apple


Apple stock falls on disappointment about iPhone X release date

Apple stock fell amid disappointment the company will not begin taking orders on its much-anticipated iPhone X model until October.

It ended Tuesday trading at $160.82, down 0.4 percent.

There was also concern about its new facial recognition technology, after the function failed when it was being demonstrated by Apple during its unveiling. The new Face ID feature is supposed to let users unlock their phones by looking at it.

Apple launched two new iPhone 8 models and a new watch Tuesday afternoon.

“The big phone is not coming out until October,” said Art Cashin, director of floor operations at UBS. The phone will be available for order in October before launching in November.

Traders said there were expectations its 10th anniversary iPhone X, which Apple priced at $999, would begin shipping shortly, though there was speculation it was in short supply.

In a statement, Apple said: “When we issued guidance for Q4 in July, we anticipated that the iPhone X would begin shipping in fiscal Q1.” Apple is currently in its fourth fiscal quarter, which began July 2.

“This stock rallied right up into the unveiling of this,” said Peter Boockvar, chief market analyst at Lindsey Group. “There was chatter going into this that there were going to be glitches and delays. … We priced this phone in already.”

It is not unusual for Apple stock to run up ahead of an iPhone announcement, and then end the day lower. On the day of 11 iPhone announcements, the stock was lower 75 percent of the time and ended flat on average, with a gain of 0.04 percent.


Company: cnbc, Activity: cnbc, Date: 2017-09-12  Authors: patti domm
Keywords: news, games, cnbc, companies, phone, release, disappointment, date, begin, shipping, lower, stock, falls, unveiling, iphone, priced, apple


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The iPhone you want to buy isn’t coming out until November

The iPhone you want to buy, and the one you should upgrade to, isn’t coming out until November. Apple announced three new iPhones on Tuesday: iPhone 8, iPhone 8 Plus and iPhone X (pronounced iPhone ten.) The iPhone 8 and iPhone 8 Plus aren’t that compelling, especially if you’re coming from an iPhone 7 or iPhone 7 Plus. The form factor looks almost identical and almost all of the exciting new features coming to the iPhone X aren’t coming to those devices. This isn’t to say the iPhone 8 and iPhon


The iPhone you want to buy, and the one you should upgrade to, isn’t coming out until November. Apple announced three new iPhones on Tuesday: iPhone 8, iPhone 8 Plus and iPhone X (pronounced iPhone ten.) The iPhone 8 and iPhone 8 Plus aren’t that compelling, especially if you’re coming from an iPhone 7 or iPhone 7 Plus. The form factor looks almost identical and almost all of the exciting new features coming to the iPhone X aren’t coming to those devices. This isn’t to say the iPhone 8 and iPhon
The iPhone you want to buy isn’t coming out until November Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-09-12  Authors: todd haselton
Keywords: news, games, cnbc, companies, phone, youre, isnt, coming, short, plus, say, iphone, buy, apple, exciting


The iPhone you want to buy isn't coming out until November

The iPhone you want to buy, and the one you should upgrade to, isn’t coming out until November.

Apple announced three new iPhones on Tuesday: iPhone 8, iPhone 8 Plus and iPhone X (pronounced iPhone ten.)

The iPhone 8 and iPhone 8 Plus aren’t that compelling, especially if you’re coming from an iPhone 7 or iPhone 7 Plus. I’m stopping just short of calling them “just another iPhone,” since I haven’t seen them in person yet. The form factor looks almost identical and almost all of the exciting new features coming to the iPhone X aren’t coming to those devices.

The iPhone X will have a brighter, more colorful and far more advanced OLED screen, for example, and a unique form factor that looks unlike any iPhone that came before it. It has advanced AI sensors in the new A11 chip that can help detect your face when you look at the phone (a demo of this failed on stage, but Apple has some time to work out the kinks).

People will see this iPhone and know that you have the new iPhone. I have a hard time believing anyone will say the same about the iPhone 8 and iPhone 8 Plus, save for the few who know Apple is using a glass back on both.

This isn’t to say the iPhone 8 and iPhone 8 Plus are bad.

They’re just not as exciting. They’ll have features such as wireless charging, something earlier iPhones don’t have, but almost everything else is an iterative step up from the iPhone 7 and iPhone 7 Plus. What’s so exciting about that?

My recommendation: Try to stick it out for the iPhone X. It’s the real leap in technology that you’re looking for. It’s the iPhone with the very latest inventions Apple managed to squeeze inside a phone, and it’s the most exciting of the bunch.

You’ll need to be patient, though. Pre-orders don’t start until Oct. 27, and the phone won’t begin shipping until Nov. 3. That’s more than a full month after the iPhone 8 launches on Sept. 22.

I’d act fast, too, since rumors suggest the iPhone X is going to be in high demand and in short supply at launch.

Oh, and empty the piggy bank: The starting price is $999, as expected.


Company: cnbc, Activity: cnbc, Date: 2017-09-12  Authors: todd haselton
Keywords: news, games, cnbc, companies, phone, youre, isnt, coming, short, plus, say, iphone, buy, apple, exciting


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Hands-on with the iPhone X

CNBC’s Josh Lipton checked out the new iPhone X (pronounced “iPhone Ten”) following Apple’s press event on Tuesday. It’s certainly a looker, with a new display that stretches across the entire front of the phone, and no home button for the first time since the iPhone came out in 2007. Instead, you’ll use a feature called Face ID, which lets you look at the iPhone to unlock it. The iPhone X won’t come cheap, though. Take a closer look in the video above.


CNBC’s Josh Lipton checked out the new iPhone X (pronounced “iPhone Ten”) following Apple’s press event on Tuesday. It’s certainly a looker, with a new display that stretches across the entire front of the phone, and no home button for the first time since the iPhone came out in 2007. Instead, you’ll use a feature called Face ID, which lets you look at the iPhone to unlock it. The iPhone X won’t come cheap, though. Take a closer look in the video above.
Hands-on with the iPhone X Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-09-12  Authors: todd haselton, jeniece pettitt, josh lipton
Keywords: news, games, cnbc, companies, wont, handson, unlock, look, tuesdayits, youll, video, starts, stretches, iphone


Hands-on with the iPhone X

CNBC’s Josh Lipton checked out the new iPhone X (pronounced “iPhone Ten”) following Apple’s press event on Tuesday.

It’s certainly a looker, with a new display that stretches across the entire front of the phone, and no home button for the first time since the iPhone came out in 2007. Instead, you’ll use a feature called Face ID, which lets you look at the iPhone to unlock it. It’s also advanced new cameras that will enable even better selfies and portrait photos.

The iPhone X won’t come cheap, though. It starts at $999 and won’t begin shipping until November. Take a closer look in the video above.


Company: cnbc, Activity: cnbc, Date: 2017-09-12  Authors: todd haselton, jeniece pettitt, josh lipton
Keywords: news, games, cnbc, companies, wont, handson, unlock, look, tuesdayits, youll, video, starts, stretches, iphone


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Hands-on with the iPhone 8

CNBC’s Josh Lipton had a chance to get up close with the new Apple iPhone 8 on Tuesday. It doesn’t have a totally radical redesign like the iPhone X. Instead, it’s a successor to the iPhone 7 and other previous models. The biggest difference: The iPhone 8 has glass panels coating both sides instead of aluminum. This allows it to support wireless charging, so you can drop it on a pad and charge the phone without plugging it in.


CNBC’s Josh Lipton had a chance to get up close with the new Apple iPhone 8 on Tuesday. It doesn’t have a totally radical redesign like the iPhone X. Instead, it’s a successor to the iPhone 7 and other previous models. The biggest difference: The iPhone 8 has glass panels coating both sides instead of aluminum. This allows it to support wireless charging, so you can drop it on a pad and charge the phone without plugging it in.
Hands-on with the iPhone 8 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-09-12  Authors: todd haselton
Keywords: news, games, cnbc, companies, tuesdayit, handson, wireless, thats, support, xpreorders, successor, totally, iphone, instead


Hands-on with the iPhone 8

CNBC’s Josh Lipton had a chance to get up close with the new Apple iPhone 8 on Tuesday.

It doesn’t have a totally radical redesign like the iPhone X. Instead, it’s a successor to the iPhone 7 and other previous models. The biggest difference: The iPhone 8 has glass panels coating both sides instead of aluminum. This allows it to support wireless charging, so you can drop it on a pad and charge the phone without plugging it in. It also offers a faster processor, new advanced cameras and more. And it starts at $699 — that’s $300 cheaper than the X.

Pre-orders open later this month.


Company: cnbc, Activity: cnbc, Date: 2017-09-12  Authors: todd haselton
Keywords: news, games, cnbc, companies, tuesdayit, handson, wireless, thats, support, xpreorders, successor, totally, iphone, instead


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Massive storms hit airlines where it hurts: Their hubs

More than 10,000 flights were cancelled due to Hurricane Harvey after flooding in Houston, where United Airlines and Southwest Airlines operate hubs. Last week United said the storm, which also drove up fuel prices, would cost it $400 million in third-quarter revenue. American Airlines said Tuesday that it has resumed operations at its hub in Miami and other Florida airports, which restarted operations on a limited basis. Delta, United and JetBlue also said would resume limited operations to and


More than 10,000 flights were cancelled due to Hurricane Harvey after flooding in Houston, where United Airlines and Southwest Airlines operate hubs. Last week United said the storm, which also drove up fuel prices, would cost it $400 million in third-quarter revenue. American Airlines said Tuesday that it has resumed operations at its hub in Miami and other Florida airports, which restarted operations on a limited basis. Delta, United and JetBlue also said would resume limited operations to and
Massive storms hit airlines where it hurts: Their hubs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-09-12  Authors: leslie josephs, kevin lamarque, mark elias, bloomberg, getty images
Keywords: news, games, cnbc, companies, storms, hit, hurts, airports, airlines, united, week, florida, hurricane, flights, storm, hubs, operations, massive


Massive storms hit airlines where it hurts: Their hubs

Hurricane season hasn’t been kind to airlines.

Carriers cancelled more than 25,000 flights as a result of hurricanes Harvey and Irma, according to plane tracker Flight Aware, a total exacerbated by where the storms struck: hubs of the largest U.S. carriers.

American Airlines on Tuesday lowered its revenue projection for this quarter to no more than a 1 percent year-on-year rise from a forecast last month of as much as a 2.5 percent increase due to the storm.

“It’s more painful. There’s no question,” said Samuel Engel, who heads the aviation division at consulting firm ICF. Hubs are not just centers for flights but “for maintenance and and crew.”

More than 10,000 flights were cancelled due to Hurricane Harvey after flooding in Houston, where United Airlines and Southwest Airlines operate hubs. Last week United said the storm, which also drove up fuel prices, would cost it $400 million in third-quarter revenue.

American Airlines said Tuesday that it has resumed operations at its hub in Miami and other Florida airports, which restarted operations on a limited basis. Miami International Airport, Florida’s largest, said it suffered water damage from Hurricane Irma over the weekend and that about 30 percent of the some 1,100 flights that it handles a day were operating on Tuesday.

Irma, which made landfall on Florida as a major hurricane on Sunday, grounded more than 14,000 flights, 10,000 of those in Florida. Heavy winds and rain from the storm also forced Delta to cancel flights at Hartsfield-Jackson Atlanta International Airport, the world’s busiest airport.

Delta, United and JetBlue also said would resume limited operations to and from Florida airports on Tuesday.

The final financial toll on airlines isn’t clear but because of forecasting, carriers were able to plan, by moving planes out of affected areas and onto other routes, unlike during one of the sudden system outages or computer glitches that have plagued airlines in recent years. The biggest logistical challenge for airlines this week, Engel said, is getting crew in place to service the storm-hit airports.


Company: cnbc, Activity: cnbc, Date: 2017-09-12  Authors: leslie josephs, kevin lamarque, mark elias, bloomberg, getty images
Keywords: news, games, cnbc, companies, storms, hit, hurts, airports, airlines, united, week, florida, hurricane, flights, storm, hubs, operations, massive


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This is a great time to look for a job

Job growth may also be dampened this month by back-to-back hurricanes Harvey and Irma, which closed businesses from Texas to Florida. Temporary unemployment from the flooding from Harvey has already created a surge in the latest weekly count of first-time applications for jobless benefits. Despite the tight labor conditions signaled in the JOLTS survey, the competition from employers looking to fill jobs has yet to put upward pressure on wages. But until wages begin rising more rapidly, many wor


Job growth may also be dampened this month by back-to-back hurricanes Harvey and Irma, which closed businesses from Texas to Florida. Temporary unemployment from the flooding from Harvey has already created a surge in the latest weekly count of first-time applications for jobless benefits. Despite the tight labor conditions signaled in the JOLTS survey, the competition from employers looking to fill jobs has yet to put upward pressure on wages. But until wages begin rising more rapidly, many wor
This is a great time to look for a job Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-09-12  Authors: john w schoen, rick wilking
Keywords: news, games, cnbc, companies, workers, suggest, look, month, jolts, labor, unemployment, wages, strong, fed, great, job, survey


This is a great time to look for a job

The JOLTS report follows a disappointing employment report earlier this month showing that the economy added 156,000 new payrolls in August, the slowest pace in five months. Job growth may also be dampened this month by back-to-back hurricanes Harvey and Irma, which closed businesses from Texas to Florida. The two states account for about 14 percent of U.S. employment.

Temporary unemployment from the flooding from Harvey has already created a surge in the latest weekly count of first-time applications for jobless benefits.

Despite the tight labor conditions signaled in the JOLTS survey, the competition from employers looking to fill jobs has yet to put upward pressure on wages. But if the pace of hiring remains strong, some economists think that may soon change.

“The latest surveys suggest that firms will soon have to increase the pay they are offering if they want to hire additional workers,” said Andrew Hunter, U.S. economist at Capital Economics.

But until wages begin rising more rapidly, many workers may be content to stay put, according to Naroff.

“With companies unwilling to bid for workers from other firms, there is little reason to leave, and that is limiting the availability of qualified workers,” he said.

The strong showing in unfilled jobs will likely encourage policymakers at the Federal Reserve to keep tightening monetary policy this year despite an inflation rate that is running lower than central bank’s 2 percent target.

As the unemployment rate, at 4.3 percent last month, has fallen to historic lows, Fed officials have been closely watching for signs that wage pressure may be building.

Some economists have argued that the labor market may be weaker than that headline number, given the large pool of discouraged workers who gave up looking for a job after the Great Recession and are only now re-entering the workforce.

But reports such as Tuesday’s JOLTS survey will likely give Fed policymakers more reason to continue nudging interest rates higher from record low levels, according to John Ryding, chief economist at RDQ Economics in New York.

“Employers need skilled labor, and experienced workers are in short supply, which continues to suggest the economy has returned to a relatively normal labor market that does not need exceptional support from the Fed,” he said.

— Reuters contributed to this article.


Company: cnbc, Activity: cnbc, Date: 2017-09-12  Authors: john w schoen, rick wilking
Keywords: news, games, cnbc, companies, workers, suggest, look, month, jolts, labor, unemployment, wages, strong, fed, great, job, survey


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Social Capital’s Palihapitiya is ‘massively long’ bitcoin

“We’ve been massively long” bitcoin for years, Palihapitiya said at the Delivering Alpha Conference in New York on Tuesday. “Technology companies are fundamentally dynamic organisms … [There are] so many assets that are fundamentally impaired due to technology.” The investment manager cited how there are 200 technology companies worth more than $1 billion on the public stock markets and 170 private firms worth more than $1 billion. It is a big fertile ground to find and buy the technology disrup


“We’ve been massively long” bitcoin for years, Palihapitiya said at the Delivering Alpha Conference in New York on Tuesday. “Technology companies are fundamentally dynamic organisms … [There are] so many assets that are fundamentally impaired due to technology.” The investment manager cited how there are 200 technology companies worth more than $1 billion on the public stock markets and 170 private firms worth more than $1 billion. It is a big fertile ground to find and buy the technology disrup
Social Capital’s Palihapitiya is ‘massively long’ bitcoin Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-09-12  Authors: tae kim, david a grogan, source, united technologies
Keywords: news, games, cnbc, companies, disruptors, capital, disrupted, massively, technology, long, ceo, companies, social, fundamentally, worth, palihapitiya, capitals, bitcoin


Social Capital's Palihapitiya is 'massively long' bitcoin

Chamath Palihapitiya is a big believer in digital currencies.

“We’ve been massively long” bitcoin for years, Palihapitiya said at the Delivering Alpha Conference in New York on Tuesday. “The genie is fundamentally out of the bottle,” he added on the power of the blockchain.

He doesn’t think it will blow up as JPMorgan Chase CEO Dimon said earlier Tuesday.

Palihapitiya also said technology investors need to focus on a company’s ability to innovate in a rapidly changing world.

“There is just this massive trade right now between the disruptors and the disrupted,” he said.

“Technology companies are fundamentally dynamic organisms … [There are] so many assets that are fundamentally impaired due to technology.”

The investment manager cited how there are 200 technology companies worth more than $1 billion on the public stock markets and 170 private firms worth more than $1 billion. It is a big fertile ground to find and buy the technology disruptors and short the disrupted, according to the investor.

Palihapitiya is the founder and CEO of Social Capital. He was a former member of the senior executive team at Facebook. He was recently listed as CEO of a new “blank check company” called Social Capital Hedosophia Holdings, according to a filing with the Securities and Exchange Commission in August.


Company: cnbc, Activity: cnbc, Date: 2017-09-12  Authors: tae kim, david a grogan, source, united technologies
Keywords: news, games, cnbc, companies, disruptors, capital, disrupted, massively, technology, long, ceo, companies, social, fundamentally, worth, palihapitiya, capitals, bitcoin


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CME CEO on cybersecurity: Companies must ‘allocate the resources to defend our systems’

CME Group CEO Terry Duffy: We must allocate resources to defend our systems 3 Hours Ago | 03:12The financial system is a target terrorists would like to disrupt with a cyberattack, so companies need to do the best they can to protect themselves, CME Group Chairman and CEO Terry Duffy told CNBC on Tuesday. In fact, cybersecurity is one of his big concerns and CME spends a “tremendous amount of revenue” on it, he said. His comments followed those of Treasury Secretary Steven Mnuchin, who said on T


CME Group CEO Terry Duffy: We must allocate resources to defend our systems 3 Hours Ago | 03:12The financial system is a target terrorists would like to disrupt with a cyberattack, so companies need to do the best they can to protect themselves, CME Group Chairman and CEO Terry Duffy told CNBC on Tuesday. In fact, cybersecurity is one of his big concerns and CME spends a “tremendous amount of revenue” on it, he said. His comments followed those of Treasury Secretary Steven Mnuchin, who said on T
CME CEO on cybersecurity: Companies must ‘allocate the resources to defend our systems’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2017-09-12  Authors: michelle fox
Keywords: news, games, cnbc, companies, system, defend, allocate, terry, mnuchin, cme, companies, ceo, protect, cybersecurity, resources, duffy, need, systems


CME CEO on cybersecurity: Companies must 'allocate the resources to defend our systems'

CME Group CEO Terry Duffy: We must allocate resources to defend our systems 3 Hours Ago | 03:12

The financial system is a target terrorists would like to disrupt with a cyberattack, so companies need to do the best they can to protect themselves, CME Group Chairman and CEO Terry Duffy told CNBC on Tuesday.

In fact, cybersecurity is one of his big concerns and CME spends a “tremendous amount of revenue” on it, he said.

“You can spend until you’re blue in the face and still not protect everything. So you have to do the best job you possibly can,” Duffy said in an interview with “Closing Bell.”

His comments followed those of Treasury Secretary Steven Mnuchin, who said on Tuesday that cybersecurity is a “big focus” for him.

“I’m concerned about the global financial system and keeping it protected,” Mnuchin said at the Delivering Alpha conference, presented by CNBC and Institutional Investor.

Duffy said businesses need to remain vigilant and dedicate resources to protect themselves and their customers.

“It’s incumbent upon all of us to make sure that we allocate the resources to defend our systems no different than governments have to allocate resources to NATO and others to protect our countries,” he said.

Just last week, credit reporting firm Equifax said that a data breach could potentially affect 143 million consumers in the United States.

— CNBC’s Michael Sheetz and Todd Haselton contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2017-09-12  Authors: michelle fox
Keywords: news, games, cnbc, companies, system, defend, allocate, terry, mnuchin, cme, companies, ceo, protect, cybersecurity, resources, duffy, need, systems


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