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Image source: Getty Images After much hemming and hawing, I finally joined Costco via its website a few weeks ago. I bought a house earlier this year, and I've got more storage space now, plus I was eager to maximize a Costco membership by taking advantage of deals on appliances, furniture, electronics, and more. I recently visited the store location closest to me (which is an hour away), and it was an eye-opening experience.
Broco Rankin , a portfolio company of Salt Creek Capital , has acquired Ready Welder Corporation. Ready Welder specializes in portable welding products. The company’s flagship product, the ReadyWelder II , is a battery-powered, spool gun-style welder designed for use in remote locations without access to traditional welding equipment. This product allows users to weld anywhere, without the need for an electrical outlet—a concept that pioneered the “Weld in the Wild” category.
Retirement healthcare expenses eat up a significant portion of your nest egg, even if you're healthy. A 65-year-old couple retiring in 2024 can expect to spend $165,000 on out-of-pocket medical expenses, according to Fidelity, and this doesn't include things like dental care, over-the-counter medications, or long-term care. Prioritizing your health at every age is critical to keeping these expenses as low as possible.
Tengram Capital Partners has sold HRB Brands to Sodalis Group , an Italy-based beauty and personal care platform. HRB Brands is one of the largest independent branded personal care companies in North America. The company’s brands include Alberto VO5, Zest, Coast, Brut, Pert, Sure, Rave, and Thicker Fuller Hair. HRB Brands outsources the manufacturing of its products to a network of contractors based in both the United States and Mexico.
Dividend investing is a tried-and-true strategy for building long-term wealth. It may not be as sexy as buying the hottest hyper-growth stocks or cutting-edge technology companies, but dividend stocks can be the tortoise that drives steady portfolio wealth when looking at a multi-decade period. And it does take time. For example, if you buy a dividend stock yielding 2% that grows its dividend per share by 6% per year, it will be yielding just 3.6% in 10 years.
Companies owned by private equity (PE) firms are defaulting on their credit at a significantly higher rate compared to other speculative-grade borrowers, according to a report by Bloomberg citing a recent report from Moody’s Ratings. From January 2022 to August 2023, private equity-backed companies had a default rate of 17%, nearly double the rate of non-PE-backed firms, Moody’s revealed in its report published on Thursday.
Tesla (NASDAQ: TSLA) tumbled in early trading Friday, down 8.2% through 10:05 a.m. ET as investors gave two thumbs down to the company's "We, Robot" presentation in Hollywood last night. In no particular order, Tesla unveiled a bartending Tesla Bot. Image source: Tesla. an autonomous Robovan that can carry 20 passengers. Image source: Tesla. and a 2-door Cybercab (that on the company's website is still confusingly called "Robotaxi").
New York-based Cortec Group has added Robert Schwartz to its investment team as a new partner. Mr. Schwartz joins Cortec from TZP Group , a lower middle market private equity firm which invests primarily in consumer and business-to-business products and service companies. While at TZP, Mr. Schwartz led several of the firm’s consumer products and business services companies and also served as leader of the firm’s portfolio operations group.
New York-based Cortec Group has added Robert Schwartz to its investment team as a new partner. Mr. Schwartz joins Cortec from TZP Group , a lower middle market private equity firm which invests primarily in consumer and business-to-business products and service companies. While at TZP, Mr. Schwartz led several of the firm’s consumer products and business services companies and also served as leader of the firm’s portfolio operations group.
Joby Aviation (NYSE: JOBY) has spent a decade building a point-to-point air taxi product and is getting closer to launch. In this video, Travis Hoium discusses whether it's time to invest in this new transportation paradigm or wait until the business model is proven out. *Stock prices used were end-of-day prices of Oct. 7, 2024. The video was published on Oct. 8, 2024.
Global private equity dealmaking and fundraising metrics through Q3 are tracking ahead of the same period in 2023 as interest rates begin to loosen - but fundraising activity could fade as year end approaches, new data from PitchBook shows. The post PE dealmaking, fundraising suprise to the upside through Q3 – but capital raising could slide towards year end: PitchBoook appeared first on AltAssets Private Equity News.
Chip-giant Intel (NASDAQ: INTC) has managed to keep pace with rival AMD on raw performance in the PC c entral processing unit (CPU) market over the past few years, but that feat came at a cost. Intel's previous three generations of desktop PC processors -- Alder Lake, Raptor Lake, and Raptor Lake Refresh -- were all built on the Intel 7 manufacturing process.
Mill Point Capital has more than doubled its capital under management through the rapid $1.7bn final close of its third fund. The post Mill Point’s $1.7bn third fund was fully allocated at hard cap less than a month after launch, firm says appeared first on AltAssets Private Equity News.
October is an important month for seniors since that's when Medicare's annual open enrollment period kicks off. That period spans more than seven weeks, beginning Oct. 15 and lasting through Dec. 7. During open enrollment, Medicare participants have the opportunity to make changes to their coverage. And in some cases, switching plans could lead to a world of savings.
Siguler Guff has raised more than $580m for the latest vintage of its small business lending strategy, beating its $500m target. The post Siguler Guff seals more than $900m for new small business lending deals appeared first on AltAssets Private Equity News.
Nvidia (NASDAQ: NVDA) was the best-performing stock in the S&P 500 (SNPINDEX: ^GSPC) over the last five years, with shares soaring 2,890%. The company completed two stock splits during that period. The first was the 4-for-1 stock split in July 2021, and the second was the 10-for-1 stock split in June 2024. Monster gains notwithstanding, Wall Street is still bullish on the semiconductor company.
Audax Private Debt has brought in former Stifel and Barclays Wealth exec John Wierzba as a managing director focused on wealth management investor relations. The post Ex-Stifel, Barclays Wealth exec Wierzba to help boost Audax private debt wealth management IR appeared first on AltAssets Private Equity News.
After hitting a 52-week low on Oct. 1, U.S. benchmark West Texas Intermediate (WTI) crude oil prices surged nearly $8 per barrel in two days as Middle East tensions threaten to take supply offline. Oil prices had been under pressure from a ramp-up in U.S. production, paired with potentially higher OPEC+ supply. ExxonMobil (NYSE: XOM) , the most valuable U.S. energy stock by market cap, notched a fresh all-time high on Oct. 4.
Sagard-backed venture capital investor Diagram has beaten its target for its latest fund close by reaching its $80m hard cap for the climate-focused investment vehicle. The post Sagard-backed VC investor Diagram hits $80m hard cap for climate tech fund appeared first on AltAssets Private Equity News.
Stocks have been on a winning streak this year with the S&P 500 and Dow Jones Industrial Average hitting new all-time highs. Investors are naturally feeling more cautious as they navigate the market as many growth stocks are trading at lofty valuations. What you need to do is screen through the universe of stocks to identify those with the right attributes that you can buy and own over the long term.
Blue Owl Capital Inc is continuing its push into asset-based finance with the purchase up to $2bn worth of consumer instalment loans from fintech lender Upstart Holdings Inc, according to a report by Bloomberg News citing a recent company statement. The deal will unfold over the next 18 months through a forward-flow agreement, where the buyer commits to acquiring loans before they are even originated.
The S&P 500 (SNPINDEX: ^GSPC) continues to set new records, extending the bull market that began when the index bottomed in Oct. 2022. The technology sector is leading this incredible run thanks to its powerful earnings growth and innovation in areas like artificial intelligence (AI). Since the S&P 500 is weighted by market capitalization , the largest companies in the index have a greater influence over its performance than the smallest.
Clayton Dubilier & Rice is in talks to buy a controlling stake in the consumer health business of Sanofi which could value it at up to €15bn. The post Deal Roundup: CD&R said to eye Sanofi’s Opella at €15bn valuation, Bain Capital scrapped Kioxia IPO after huge valuation gap with investors: report appeared first on AltAssets Private Equity News.
Way back in 2016, before most investors were even aware of artificial intelligence (AI), Nvidia (NASDAQ: NVDA) co-founder Jensen Huang delivered an AI supercomputer to leadership at OpenAI. In 2022, OpenAI released the popular ChatGPT chatbot, sparking a generative AI revolution. And now the tailwinds couldn't be blowing any harder in Nvidia's sails.
Adenia Partners (Adenia), a private equity firm focused on growth opportunities in Africa, has extended its presence in North Africa by establishing on-the-ground representation for the firm in Egypt, its eight location on the continent. According to a press statement, the firm has hired Cairo-based Heba Hakky as Principal to lead its origination efforts as it seeks to “capitalise on the growing investment opportunities in Egypt and surrounding countries” The expansion follows the cl
Artificial intelligence (AI) is the hottest investing theme of the moment. Much ink has been spilled on the technology's awesome power and potential economic impact. Could it be as transformative as its evangelists would have you believe? PwC -- one of the "big four" accounting firms -- believes AI can add $15.7 trillion to the global economy by 2030.
Image source: Getty Images Sam's Club can be good for your budget in a lot of ways, from the bulk bargains to the 2% Sam's Cash bonus for Plus members. But you're not taking full advantage of your membership if you haven't tried out Sam's Club's house brand, Member's Mark. This isn't a typical low-quality generic brand. Most of the Member's Mark products I've tried have been good quality, and the majority of them have excellent reviews online.
One of the most important pieces of generative artificial intelligence (AI) development is sophisticated chipsets called graphics processing units (GPUs). Right now, Nvidia (NASDAQ: NVDA) absolutely dominates the GPU realm thanks to its A100 and H100 chipsets. While these products contributed to record revenue and profit growth for Nvidia over the last couple of years, the company's new Blackwell series GPUs could wind up being its biggest product yet.
Private investment house Ardian has acquired a majority stake in Vista Vision, a Milan-headquartered provider of healthcare services in ophthalmic and refractive surgery with 12 clinics in Italy and five in Romania. The founders and managers of the company, Mario Salmeri (Chairman and CEO) and Stefano Zanchi (CEO), will reinvest alongside Ardian, as well as existing investor Credem Private Equity SGR, which first invested in the business in 2020.
Investing in exchange-traded funds (ETFs) can give you exposure to many different areas of the economy. They're not just a way to mirror the overall markets. ETFs can also allow you to tap into different growth opportunities and take advantage of sectors of the market which may be poised to do better than the S&P 500. Vanguard funds are popular options with investors for their strong track records, diversification, and low fees.
Citigroup has appointed seasoned investment banker John LaVoie, his has 324 years of experience working with buyout firms to lead its private equity M&A division for the US West Coast, according to a report by Reuters citing an internal memo. LaVoie, whol will be based in San Francisco, will report to Michael Marcus and Michael Quadrino, Co-Heads of Citi’s global asset managers unit in North America.
Nvidia (NASDAQ: NVDA) is known for inventing, staying ahead of the curve, and surprising the market with its latest innovations. This has helped the company dominate the artificial intelligence (AI) chip market, seizing 80% share, and become a general AI powerhouse. Nvidia isn't about just AI chips anymore. The company sells an entire suite of products and services, from networking to enterprise software, to serve customers with AI projects.
Abu Dhabi-based asset manager Lunate is considering a significant investment in HPS Investment Partners, a private credit firm, as HPS explores options for an initial public offering (IPO) or a potential sale, according to a report by Bloomberg. The report cites unnamed sources familiar with the matter as confirming that Lunate is evaluating an investment of $1 billion or more in HPS, although discussions are still ongoing and confidential.
If I didn't know any better, I think I'd be surprised to learn that Coca-Cola (NYSE: KO) has been losing to the market for years. Although there's been a sprinkling of market-beating turns over the years, altogether, Coca-Cola has been trailing the market for -- drumroll please -- more than 30 years. That's not necessarily alarming. Everyone knows you buy this Dividend King for its dividend, right?
A study from Cambridge University trained monkeys to expect either 2 or 20 liquid treats for completing certain tasks. Think of these rewards as income earned for doing their job. Once those baseline expectations were set, the researchers would unexpectedly give them 4 (instead of 2) or 40 (instead of 20) reward units. The crazy thing is the magnitude of the increase in reward didn’t matter — the dopamine rele.
With the broader indexes hitting all-time highs, 2024 has been a phenomenal year in the stock market. While the energy sector is only up 11.2%, Texas Pacific Land Corporation (NYSE: TPL) has soared 87.2% and just hit a new all-time high on Oct. 4. Here's why Texas Pacific has an elite business model and could still be a dividend stock worth buying now despite its meteoric rise.
Live from FutureProof in Huntington Beach, California, Barry Ritholtz speaks with Joe Lonsdale of 8VC. Previously, he co-founded Palantir Technologies , founded Adapar , a wealth management platform, and Opto , a private market investment platform. In this episode, Lonsdale discusses the importance of technology in various sectors, the need for innovation in defense, and the potential of AI to transform the services industry.
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