Financial Markets and Economy
Managers at a $1 trillion asset manager say investors are dangerously underplaying 3 things (Business Insider)
2016 was not a great year for forecasting.
The UK's decision to leave the European Union, and President Donald Trump's win despite what the polls showed, humbled many people who were sure that the opposite outcomes would happen.
China Suspends All Coal Imports From North Korea (NY Times)
China said on Saturday that it was suspending all imports of coal from North Korea as part of its effort to enact United Nations Security Council sanctions aimed at stopping the country’s nuclear weapons and ballistic-missile program.
David Tepper's Appaloosa just dropped about $1 billion on 4 pharma stock (Business Insider)
The fund took big new positions in Teva ($183 million), Pfizer ($156 million), and Mylan ($125 million) in the final three months of the year, according to a 13F filing. They were the fund's biggest new positions in the period.
Why Wind and Solar May Have to Fill In for America's Crumbling Hydro Infrastructure (Fool.com)
When politicians talk about "crumbling infrastructure," it's often hard to ascertain exactly what they're talking about. Is it bridges falling down Opens a New Window., an excessive number of potholes, or maybe aging airports? It could mean any number of things depending on who's talking and who's listening.
The right – and wrong – way to prepare for a market sell-off (The Globe And Mail)
Given Donald Trump’s recent behaviour, I’ve concluded the U.S. market has probably run up as far as it’s likely to go, and I’ve been selling off some of my U.S. stocks that are overbought to prepare for a buying opportunity I see coming.
Trump Team’s Growth Forecasts Far Rosier Than Those of CBO, Private Economists (The Wall Street Journal)
The Trump administration has drafted preliminary economic growth forecasts in its federal budget planning that rely on assumptions that are far rosier than projections made by independent agencies and most private forecasters, according to several people familiar with the discussions.
Firefighters Knock Down Blaze At California Oil Refinery (Associated Press)
An explosion and fire erupted Saturday at a California oil refinery, exactly two years after a blast that crippled the plant and led to higher gasoline prices, authorities said.
'Tax The Robots' Says Bill Gates (Forbes)
I make no excuses for my fanboy reactions to Bill Gates. The man was a hero to me when he ran Microsoft full-time, and he's gone on to do even better things since.
Peter Schiff: Fed Will Revert Back to QE, No Matter What Yellen Claims (Money Morning)
During a Feb. 14 interview with CNBC, legendary economist and Euro Pacific Capital CEO Peter Schiff made a bold claim about the U.S. Federal Reserve.
Norway Central Banker Warns Of Massive 50% Drop In Wealth Fund Assets To Cover Budget Deficits (Zero Hedge)
Back in August, we noted that, for the first time since it's creation in 1996, the Norwegian government had started raiding its sovereign wealth fund in 2016 to cover government deficits.
Goldman: Investors Will Soon Realize They Were Too Optimistic (Zero Hedge)
After several increasingly more comprehensive critiques of Trump's fiscal policies (most recently this past weekend), on Friday, just as the S&P closed at fresh all time highs propelled by a late day ramp, Goldman's chief equity strategist who has a 2,300 year end target on the index, cautioned that "cognitive dissonance exists in the US stock market" as "investors must reconcile S&P 500’s performance with negative EPS revisions from sell-side analysts."
Companies
Tesla Under Fire After Explosive Crash (NBC News)
Tesla has come under fire in the wake of an explosive crash in Indianapolis involving a Model S battery-electric vehicle that took the life of a young woman and her boss.
With No Frills and No Commissions, Robinhood App Takes On Big Brokerages (NY Times)
A start-up called Robinhood Markets is taking on the big brokerage firms with its commission-free trading app, and appears to be making headway. Since its introduction in December 2014, the app has attracted a million users and executed more than $30 billion in trades, up from $2 billion in 2015.
Uber’s troubles have stretched into the world’s second largest market (Think Progress)
While Uber continues to deal with the fallout of the #DeleteUber campaign, the San Francisco based ride-hailing app is also engaged in crisis-management in the world’s second largest market: India.
3 Examples of the Potential in IBM's Watson (The Motley Fool)
The face of International Business Machines' (NYSE:IBM) transformation is Watson. Bursting onto the scene in 2011 by winning a game of Jeopardy!, IBM's cognitive computing system is now being used in a wide variety of industries to boost efficiency and cut costs.
Technology
Recent studies show that average electric vehicle battery cost dropped 80% in 6 years down to ~$227/kWh. It’s exciting progress for the electric vehicle industry, but it’s still not enough to make long-range electric cars affordable.
VW Taps Its Hippie Heritage With an Electric Microbus (Bloomberg)
Volkswagen AG unveiled a battery-powered version of its iconic hippie-era Microbus as the carmaker overhauls its U.S. lineup to move beyond its emissions-cheating scandal.
Samsung Galaxy S8 Kicks Off OLED Battle Royal With Apple And iPhone 8 (Forbes)
Samsung will get a jump on Apple with its next-gen Galaxy S8 display.
What does that mean to consumers? By shrinking the bezel (borders), Samsung will be able to increase the display size of the S8 but keep the physical size of the device more or less the same.
What’s next for tvOS & Apple TV? How Apple’s set-top box could upgrade your living room (9To5Mac)
The once ‘hobby’ Apple TV has been gaining quite a bit of attention from Apple over the last year. tvOS 10 brought in a new Dark mode option for users system wide, while version 10.1 brought in the new TV app.
New Office Sensors Know When You Leave Your Desk (Bloomberg)
About a year ago, in a widely reported story, journalists at British newspaper the Telegraph found little black boxes installed under their desks. The devices, which had “OccupEye” emblazoned on them, detected if employees were at their workstations.
This Solar Fabric Could Let You Charge Your Phone With Your Shirt (Singularity Hub)
Solar energy is becoming ever more widespread, with panels going up not only on houses and office buildings, but on cars, buses, and road signs. The latest advancement in solar technology will put solar energy on another new and somewhat unexpected surface: people.
Gene editing, clones and the science of making babies (The Economist)
It used to be so simple. Girl met boy. Gametes were transferred through plumbing optimised by millions of years of evolution. Then, nine months later, part of that plumbing presented the finished product to the world. Now things are becoming a lot more complicated.
U.S. solar installations jumped 95 percent last year (Think Progress)
If humanity wants to have any chance of slowing the rapid warming of the climate, people need to stop burning fossil fuels — but no one wants to go without electricity.
Politics
Republicans' New Plan to Gut Public Insurance (The Atlantic)
Medicaid has essentially functioned the same way for half a century. Eligibility for the program has changed, most notably when Obamacare extended an option to states to expand coverage to all low-income adults.
Ryan Makes Emphatic Plea for Tax Plan Seen ‘on Life Support’ (Bloomberg)
Not long after House Speaker Paul Ryan offered a full-throated affirmation of his tax-overhaul plan, an influential conservative group announced a grassroots campaign against it and a Senate leader said a key part of the proposal is “on life support.”
160,000 in Barcelona Urge Government to Take In More Refugees (NY Times)
At least 160,000 protesters marched Saturday in Barcelona to demand that Spain’s conservative-led government increase its efforts to take in refugees from war-torn countries like Syria.
Trump Says ‘Life Is a Campaign’ as He Seeks Validation From Fans (Bloomberg)
President Donald Trump held a campaign-style rally in Florida less than a month after taking office, seeking — and receiving — validation from his most fervent supporters days after national security adviser Michael Flynn’s forced resignation put a spotlight on dysfunction in the new administration.
Republicans won’t investigate Trump, but they’re still going after Hillary’s emails (Think Progress)
The chairman of the House Oversight Committee Rep. Jason Chaffetz (R-UT) has refused all calls to hold a hearing on or investigate President Donald Trump’s conflicts of interest.
America comes in third: Trump’s foreign policy is looking more and more like “China First,” “Russia Second” (TomDispatch)
If there’s a single consistent aspect to Donald Trump’s strategic vision, it’s this: U.S. foreign policy should always be governed by the simple principle of “America First,” with this country’s vital interests placed above those of all others.
Trump Always Calls Out Chicago, but City Closest to Mar-a-Lago Had Comparable Crime Rate in 2015 (NBC News)
The city of West Palm Beach, which sits just across the Intracoastal Waterway from Trump's palatial Mar-a-Lago Resort — aka the Winter White House — on exclusive Palm Beach, had a violent crime rate in 2015 that was equal to that of the Windy City, according to federal crime records.
Popular Domestic Programs Face Ax Under First Trump Budget (NY Times)
The White House budget office has drafted a hit list of programs that President Trump could eliminate to trim domestic spending, including longstanding conservative targets like the Corporation for Public Broadcasting, the Legal Services Corporation, AmeriCorps and the National Endowments for the Arts and the Humanities.
Trump told members of his golf club to 'come along' to cabinet interviews in leaked audio (TPM)
Then President-elect Donald Trump told members of his golf club in Bedminster, New Jersey to “come along” to observe potential Cabinet picks and other members of his administration as they arrived at the club to meet with him in November.
France's Le Pen Denies Allegations Her Aides Had Fake EU Jobs (Bloomberg)
French far-right leader Marine Le Pen denied an allegation by the European Union’s fraud office that she gave her aides fake parliamentary jobs, after she became the second main contender in the nation’s presidential race to become embroiled in a funding controversy.
At conference of world leaders, McCain blasts Trump's worldview (USA Today)
Without ever mentioning President Trump by name, Sen. John McCain used a speech in Germany on Friday as an international platform in an apparent blast at his fellow Republican’s policies and worldview.
Republicans Tweet, Then Delete, a Fake Lincoln Quote (NY Times)
It seemed harmless enough.
In a tweet celebrating the Feb. 12 birthday of Abraham Lincoln, the Republican National Committee attributed a short quote to the 16th U.S. president. It was an uncontroversial maxim, if ever there was one.
Donald Trump Will Defeat ISIS (The Atlantic)
The dysfunction at the highest levels of the American government right now obscures a dramatic reality: Donald Trump is going to defeat the Islamic State, and Americans need to be fine with that.
Pence Says US to Hold Russia Accountable, Stand With NATO (NY Times)
U.S. Vice President Mike Pence on Saturday conveyed a message to jittery partners that the Trump administration will "hold Russia accountable" and maintain steadfast support for NATO, a military alliance the American commander in chief once dismissed as "obsolete."
President Trump's Sons Are in Dubai to Open a New Golf Club (Associated Press)
Two of President Donald Trump's sons arrived in the United Arab Emirates for an invitation-only ceremony Saturday to formally open the Trump International Golf Club in Dubai.
Lawmakers Lay Into Trump for Characterizing Media as `The Enemy' (Bloomberg)
A free and at times adversarial press is essential “if you want to preserve democracy,” Republican Senator John McCain said in response to Donald Trump’s description of the media as the enemy of the American people.
Trump claims he ‘inherited a mess.’ Actually, things were pretty great. (Think Progress)
During President Trump’s rather eventful press conference Thursday afternoon, he claimed that he “inherited many problems across government, and across the economy.”
North Korea’s dictator challenges Donald Trump (The Economist)
If North Korea's test of a ballistic missile on February 12th was intended as a provocation, Donald Trump, unusually, failed to take the bait. For once, the president’s Twitter account stayed silent.
Trump’s ‘Winter White House’: A Peek at the Exclusive Members’ List at Mar-a-Lago (NY Times)
On any given weekend, you might catch President Trump’s son-in-law and top Mideast dealmaker, Jared Kushner, by the beachside soft-serve ice cream machine, or his reclusive chief strategist, Stephen K. Bannon, on the dining patio.
Trump’s hostile takeover of the American brand (Columbia Journalism Review)
Since the election I have heard a network anchor and a Timescorrespondent speak independently of an ongoing “soul-searching” process at their organizations and give exactly the same examples of what the media “got wrong.”
Trump family trips cost taxpayers $11.3m in one month – almost as much as Obama’s cost in a year (Independent)
The US President’s three visits to his Mar-a-Lago club in Florida since his presidential inauguration, combined with his sons’ business trips, reportedly cost $11.3m (£9.1m).
Bad News For Pro-Wall Arguments: Immigration Doesn't Lead To More Crime (FastCoExist)
The new administration has made no secret of its stance on immigration. As far back as 2015, Donald Trump has this to say about new arrivals from Mexico: "They're sending people that have lots of problems, and they're bringing those problems with us. They're bringing drugs.
Lawmakers say Trump’s words matter — and hurt the country’s standing abroad (The Washington Post)
A growing roster of Republicans and Democrats on Capitol Hill say they believe President Trump’s pugnacious rhetoric and unpredictable behavior threaten to diminish the United States’ standing around the world, do real damage to fragile diplomatic relationships and even weaken global stability.
How Marine Le Pen could win the French presidency (The Economist)
Bond-Market nerves and narrowing polls have drawn fresh attention to the risk of a President Marine Le Pen in France this spring. Since the start of 2017, the leader of the nationalist Front National (FN) has consistently topped voting intentions for the first round of the presidential election, which takes place on April 23rd.
Trump Supporters Rally In Downtown Atlanta With Semi-Automatic Weapons (Zero Hedge)
As Trump was preparing to address an audience in Florida on Saturday afternoon, in a speech which Reuters summarized as "returning to the campaign trail to attack the media again and tout his accomplishments in the friendly atmosphere of a rally with supporters", a group of supporters gathered for a pro-President Trump rally in downtown Atlanta armed with semi-automatic weapons.
Health and Biotech
You can grow new brain cells. Here's how (Ted)
Can we, as adults, grow new neurons? Neuroscientist Sandrine Thuret says that we can, and she offers research and practical advice on how we can help our brains better perform neurogenesis—improving mood, increasing memory formation and preventing the decline associated with aging along the way.
Life on the Home Planet
China Fights Spread of Deadly Avian Virus (NY Times)
The Chinese authorities are battling a surge in H7N9 “bird flu” infections, and have shuttered live poultry markets across the country after dozens of people in recent weeks were killed by the disease.
New Continent Zealandia Is Discovered Underwater (The Huffington Post)
Hail, Zealandia! It’s not the lost city of Atlantis, but scientists say they’re convinced they have discovered the planet’s eighth continent sprawling underwater beneath New Zealand.
Storm Socks Southern California, Flooding Freeways and Killing at Least 5 (NBC News)
Tens of thousands of people were left without power Saturday after one of the strongest storms to pummel Southern California killed at least five people and left a destructive trail of sinkholes, flooded highways and downed power lines.
The FBI is pursuing 3 separate probes into Russian hacking of the presidential election (Reuters)
The U.S. Federal Bureau of Investigation is pursuing at least three separate probes relating to alleged Russian hacking of the U.S. presidential elections, according to five current and former government officials with direct knowledge of the situation.
