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Goldman Sachs thinks a new ‘commodity deflation cycle’ is just beginning and Caterpillar is going to get slammed, and Wall Street got the China oil story totally wrong.
In other news, The Baupost Group — the $27 billion Boston-based hedge fund — had its third losing year in 2015. Here is an explanation of what went wrong, and here is Baupost founder Seth Klarman on a thinning of the unicorn herd. The fund has also started buying distressed debt.
Here is a recap of some of the big bank news:
- Morgan Stanley just named 156 new managing directors.
- James Gorman at Morgan Stanley took a pay cut to $21 million in total compensation for 2015.
- Here’s how much Goldman Sachs’ top execs were paid last year.
- Jamie Dimon at JPMorgan got a 35% raise.
Here are the top Wall Street headlines at midday –
THE LATEST INVERSION DEAL: Johnson is buying Ireland-based Tyco – Johnson Controls said on Monday it had agreed to acquire Ireland-based peer Tyco International in a $16.5 billion deal aimed at lowering its tax bill.
Twitter shares crater on news of the company’s executive shake-up – Twitter shares cratered on Monday, following the news that five of the company’s top execs were leaving.
JPMorgan is taking on one of the most notorious problems on Wall Street – JPMorgan told its investment bankers that they should take weekends off when they’re not working on imminent deals.
Some of the smartest minds in finance are making a prediction about China that was once taboo – It was once taboo to say that China could be a deflationary force, dragging the world into a slowdown as its own economy modernised.
There’s ‘blood in the water’ in Silicon Valley and Goldman Sachs is excited about it – The demise of startups with billion-dollar valuations was the talk of the town at the World Economic Forum in Davos.
There’s really only one question on Wall Street right now – Have markets got it right?
We asked industry experts what the ‘Uber of healthcare’ would be — here’s how they responded — At JPMorgan’s annual healthcare conference this month, Business Insider had the chance to sit down with industry leaders and ask them what could disrupt healthcare in the same way.
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