May 9, 2021

Invest

Keith Rabois, Elliot Management, and Goldman Sachs invest in Florida

Florida has recently attracted some of Wall Street and Silicon Valley’s biggest names like Keith Rabois, Elliot Management and Goldman Sachs.

“For years, even though people would talk about moving, it really wasn’t cool among the wealthy to move to Florida. It was like, OK, you couldn’t hack it in New York, so you go to Florida,” said Robert Frank, CNBC’s wealth reporter. “Now you’re that chump who stayed in New York.” 

Reports of Florida slowly morphing into a legitimate tech and financial hub started well before the coronavirus pandemic. In 2018, Florida solidified its place in the big leagues

Read More

U.S. needs to invest in semiconductor ‘infrastructure,’ Biden tells business leaders facing crippling shortages

The U.S. needs to address an ongoing shortage of semiconductors by investing in its chip “infrastructure,” President Joe Biden said during a virtual summit meeting with auto executives and other business leaders Monday afternoon.

“These chips, these wafers … batteries, broadband — it’s all infrastructure. We need to build the infrastructure of today and not repair the one of yesterday,” Biden said. “The plan I propose will protect our supply chain and revitalize American manufacturing.”

The event was called to address an immediate crisis that has impacted key industries, including consumer electronics, pharmaceuticals and auto manufacturing. Few sectors have been

Read More

How Millionaires Spend, Save and Invest Their Money

Select’s editorial team works independently to review financial products and write articles we think our readers will find useful. We may receive a commission when you click on links for products from our affiliate partners.

When it comes to managing your money, it’s natural to have a lot of questions: Are there expenses you shouldn’t put on a credit card? How much cash should you keep in your savings and checking accounts? When are you ready to start investing?

But personal finance is personal, and sometimes the answers to these questions aren’t straightforward. What works for one person won’t

Read More

Biotech VCs have more money than ever to invest. What could go wrong?

Unlock this article by subscribing to STAT+ and enjoy your first 30 days free!

GET STARTED

What is it?

STAT+ is STAT’s premium subscription service for in-depth biotech, pharma, policy, and life science coverage and analysis.
Our award-winning team covers news on Wall Street, policy developments in Washington, early science breakthroughs and clinical trial results, and health care disruption in Silicon Valley and beyond.

What’s included?

  • Daily reporting and analysis
  • The most comprehensive industry coverage from a powerhouse team of reporters
  • Subscriber-only newsletters
  • Daily newsletters to brief you on the most important industry news of the day
  • STAT+ Conversations
  • Weekly
Read More

ARK Invest Is Buying These 2 Tech Stocks: Both Could Double Your Money

ARK Invest has only been around since 2014, but it is already developing a reputation as one of Wall Street’s best-performing asset managers. Headed by CEO Cathie Wood, the company offers various financial products, including exchange-traded funds (ETFs) built around innovative secular trends like autonomous technologies, next-generation internet, and genomics.

Over the last three years, the company’s flagship product — the ARK Innovation ETF (NYSEMKT:ARKK) — has skyrocketed in value by 200%, crushing the 52% return of the S&P 500 over the same period. Given Ark’s track record for picking winners, investors should note that Roku (NASDAQ:ROKU) and Square (NYSE:SQ)

Read More

Should Retirees Pay Off Their Mortgage or Invest the Money? It Depends on the Math

These days, if you want to pay off your mortgage when you retire, you’re going to take a lot of flak.

That is because mortgage rates are currently at whistle-inspiring lows—the average rate across 30-year fixed loans in December was 2.93%, according to mortgage technology provider ICE Mortgage Technology. If you itemize and get tax a deduction for mortgage interest, you’re paying even less to borrow money.

Meanwhile, if you were to invest the money instead of paying off the note, you’re likely to make a lot more. Over the last 10 years, portfolios invested 60% in stocks and 40%

Read More