Welcome to Finance Insider, Business Insider’s summary of the top stories of the past 24 hours. Sign up here to get the best of Business Insider delivered direct to your inbox.
Sometimes being an expert on a topic can be a detriment – at least when large changes are afoot.
This may seem like a surprising statement, but the logic is pretty straightforward: You get so used to one set of circumstances that when the status quo is altered, it can be difficult to recalibrate your point of view.
Dennis Lynch,head of growth investing at Morgan Stanley Investment Management and the top large-cap portfolio manager of 2017, realised this early in what’s shaped up to be an immensely successful investment career.
And he made a move that’s informed many of his biggest decisions ever since – he hired a “disruptive change researcher” to insulate his portfolios from this phenomenon.
Elsewhere in markets news, the US 10-year yield is up more than 6 basis points Tuesday morning, crossing 3.06% for the first time since July 2011. The spike coincides with better than expected economic data fuelling expectations the Fed could hike rates as much as four times in 2018.
The Dow, in turn, dropped 250 points as of Tuesday afternoon after eight prior days of rallying.
In unconventional deal news, a $US2.3 billion merger has created the world’s largest marijuana company–and it’s a sign of the dealmaking boom in the sector
And in venture capital news, these investors say the asset class is broken – and they have started an ‘Unusual’ new fund to fix it. And this ex-Goldman Sachs banker is the newest general partner at Greylock Ventures, and she sees more $US10 billion software companies on the horizon.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.