Morgan Stanley’s WhatsApp woes – How to get hired at Blackstone — Private-equity comp, revealed

The Goldman Sachs logo is seen displayed on an Android mobile phoneOmar Marques/SOPA Images/LightRocket via Getty Images. After a six-month …

Happy Saturday!

It was a busy week for Wall Street news, with fines, exits, pay cuts, and more. Here’s what you need to know:

  • 2 top Morgan Stanley commodities execs have left after the bank discovered the group was improperly using WhatsApp to communicate. A source familiar with the matter told Business Insider the two had displayed a “failure to supervise use of the communications within the commodities business.”
  • Goldman Sachs is paying billions in fines over the 1MDB scandal and cutting exec pay. Here’s what’s been going on inside the bank.
  • JPMorgan is considering hiring as many as 4,000 financial advisors in the next five to six years, wealth boss Kristin Lemkau told Business Insider. The firm has already hired large teams of experienced FAs from rivals including Merrill Lynch and UBS in recent months.
  • Wells Fargo is exploring a sale of its asset management business, Reuters first reported.
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How to ace an interview at Blackstone

Reed Alexander and Casey Sullivan chatted with Blackstone President and COO Jon Gray, industry headhunters, and Blackstone’s global head of human resources to learn what it takes to stand out and get hired at the firm. Here are some of the highlights:

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  • There were 19,000 applications for the firm’s 2020 first-year analyst class, and just 94 were hired, according to data Blackstone shared.
  • “At a place like this, we have relatively few people. And we really need people who care,” Gray said.
  • “I look for too many references to ‘I’ versus ‘we,'” Paige Ross, Blackstone’s global head of HR, told Business Insider. “Most people do things as part of a team, and I want to see candidates accurately reflect that.”
  • You can read the full story here: Blackstone insiders reveal how to land a job at the ultra-competitive private-equity giant

If you’re not yet a newsletter subscriber, you can sign up here to get your daily dose of the stories dominating banking, business, and big deals.

Inside the alumni network of billionaire Israel Englander

Millennium Management, the massive hedge-fund manager founded by the billionaire Israel Englander more than 30 years ago, has a sprawling web of alumni who have gone on to found their own firms.


Bradley Saacks found that more than 70 former employees have launched their own funds across the globe. You can see the full story, database, and graphic here.

Private equity pay, revealed

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While raises weren’t as common as they were a year ago, a majority of respondents to Heidrick & Struggles latest survey on private-equity compensation say they got a pay bump over their 2019 base salary.Associates, even at the smallest funds, averaged nearly $200,000 in base salary and bonus last year. You can see all the data here.

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Why Goldman Sachs and Blackstone are betting billions on data centers

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Demand for data centers has boomed and bluechip investors like Goldman Sachs, KKR, and Blackstone have taken notice, announcing deals and unveiling plans to invest.

On Tuesday, Goldman said it would invest $500 million into data centers around the globe. And as Dan Geiger reports, users continue to take spaces — with ByteDance, the parent of TikTok, signing up for 53 megawatts in Northern Virginia and Bloomberg LP anchoring a huge data-center complex in New Jersey.

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You can read our full analysis here.

The code for Goldman Sachs’ internal data platform is now open for anyone to use

After a six-month pilot period where banks like Morgan Stanley and Deutsche Bank put it to the test, Goldman Sachs’ internal data platform Legend is being released to whoever wants to use it on coding-collaboration site Github.

The bank’s data chief told Bradley Saacks why the firm decided to share something seven years in the making.

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How Deloitte and EY struck gold by helping states with their pandemic responses

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As Samantha Stokes reports, tax and audit firms Deloitte and EY have found business opportunities by contracting with state governments to provide technical support, staffing for unemployment claims centers, and more.

In 10 contracts with four states, the two firms have netted more than $63 million. The contracts were awarded without a bidding process.

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Highlights from this week’s Business Insider Global Trends Festival:

  • Klarna CEO Sebastian Siemiatkowski on why digital retail checkouts are a huge buy now, pay later battleground: “There are a lot of buttons in the checkout. I just want to be the most popular.”
  • Nasdaq CEO Adena Friedman on the future of the cloud: “Do I think in 10 years, that many of the markets around the world, including Nasdaq, could and should be able to leverage cloud to operate their actual trading activities? The answer is yes, I do.”
  • FactSet CFO Helen Shan on how the data giant quantifies innovation: “Speed, reliability, ease of use. People don’t necessarily think of that as innovation, but the reality is that is.
  • AlixPartners CEO Simon Freakley on what’s separated winners from losers in 2020: “One doesn’t have to have an online strategy to be successful, but one has to have a defining strategy.

On the move

Opendoor has hired Daniel Morillo to be the iBuyer’s chief investment officer. Morillo is currently a managing director and head of equity quantitative research at $34 billion hedge fund firm Citadel. Opendoor last month announced plans to merge with Social Capital Hedosophia Holdings Corp II, a SPAC led by venture-capitalist Chamath Palihapitiya.

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Real estate

  • This company is building 3-D printed, small homes on existing residential properties to fight back against California’s housing shortage. Look inside a unit that was move-in ready in one week.

Global Alternative Data Market to 2026: Growing Utilization of AD to Understand Behaviour …

Alternative data (Alt-data) can be considered as undiscovered data that isn’t inside the domain of customary data sources, for example, SEC filings, fiscal …

Dublin, Oct. 22, 2020 (GLOBE NEWSWIRE) — The “Global Alternative Data Market by Type, Industry Vertical and Region: Industry Analysis and Forecast 2020-2026” report has been added to ResearchAndMarkets.com’s offering.

The Global Alternative Data Market size is expected to reach $11.1 billion by 2026, rising at a market growth of 44% CAGR during the forecast period.

Alternative data (Alt-data) can be considered as undiscovered data that isn’t inside the domain of customary data sources, for example, SEC filings, fiscal reports, official statements, and the management presentation. An Alternative data set can be composed of different sources, for example, e-commerce sites, public records, social media, monetary exchanges, web traffic, cell phones, sensors, satellites, and so on.

On applying explicit analytics on this composed data, it yields extra bits of knowledge that were earlier obscure, and are utilized by investors to assess investment opportunities. As this new data is a significant differentiator that adds to the alpha (market outperformance), the buy-sides elements, for example, hedge funds, mutual funds, private equity funds, pension funds, unit trusts, and life insurance organizations, are effectively utilizing it to construct fundamental investment models to beat the market.

The key drivers credited to the market development include the noteworthy increment in the kinds of Alternative data sources over the last decade. The most well-known sources of alt data are web scarping and financial transactions, the rising sources, including cell phones, social media, satellites, sensors, IoT-enabled gadgets, and others, are gaining extensive prevalence.

Accordingly, the organizations are effectively extending their offering by collecting data from every such source. The rising demand for Alternative data from hedge funds is anticipated to fuel market development significantly. The majority of hedge fund managers are currently utilizing Alternative data to get a competitive edge by producing out-performance and supporting risk management measures.

During the COVID outbreak, the organizations are utilizing Alternative data collected from social media, cell phones, applications, wearables, and other IoT-based gadgets to calculate changes in the behavior pattern of a consumer associated with purchases and interests. The segment related to the transactions with credit and debit cards is foreseen to show the highest CAGR from 2020 to 2026 attributable to the high precision of the data type and high demand from asset administrators.

Key Topics Covered:

Chapter 1. Market Scope & Methodology

Chapter 2. Market Overview

2.1 Introduction

2.1.1 Overview

2.1.2 Executive Summary

2.1.3 Market Composition and Scenario

2.2 Key Factors Impacting the Market

2.2.1 Market Drivers

2.2.2 Market Restraints

Chapter 3. Competition Analysis – Global

3.1 Cardinal Matrix

3.2 Recent Industry Wide Strategic Developments

3.2.1 Partnerships, Collaborations and Agreements

3.2.2 Product Launches and Product Expansions

3.2.3 Mergers & Acquisitions

3.3 Top Winning Strategies

3.3.1 Key Leading Strategies: Percentage Distribution (2016-2020)

3.3.2 Key Strategic Moves: (Product Launches and Product Expansions: 2017, May to 2020, Jul) Leading Players

Chapter 4. Global Alternative Data Market by Industry Vertical

4.1 Global BFSI Alternative Data Market by Region

4.2 Global IT & Telecom Alternative Data Market by Region

4.3 Global Transportation & Logistics Alternative Data Market by Region

4.4 Global Retail & eCommerce Alternative Data Market by Region

4.5 Global Energy & Utilities Alternative Data Market by Region

4.6 Global Media & Entertainment Alternative Data Market by Region

4.7 Global Real Estate & Construction Alternative Data Market by Region

4.8 Global Other Industry Vertical Alternative Data Market by Region

Chapter 5. Global Alternative Data Market by Type

5.1 Global Credit & Debit Card Transactions Alternative Data Market by Region

5.2 Global Mobile Type Usage Alternative Data Market by Region

5.3 Global Web Traffic & Scraped Data Alternative Data Market by Region

5.4 Global Social & Sentiment Data Alternative Data Market by Region

5.5 Global Geo-location, Satellite & Weather Data Alternative Data Market by Region

5.6 Global Others Alternative Data Market by Region

Chapter 6. Global Alternative Data Market by Region

Chapter 7. Company Profiles

  • Nasdaq, Inc. (Quandl, Inc.)
  • Advan Research Corporation
  • Dataminr, Inc.
  • The Earnest Research Company
  • Preqin Ltd. (Dynamo Software)
  • RevenPack International SL
  • Thinknum, Inc.
  • YipitData
  • 1010Data, Inc.
  • Eagle Alpha Ltd.

For more information about this report visit https://www.researchandmarkets.com/r/hqfpda

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

CONTACT: ResearchAndMarkets.comLaura Wood, Senior Press Managerpress@researchandmarkets.comFor E.S.T Office Hours Call 1-917-300-0470For U.S./CAN Toll Free Call 1-800-526-8630For GMT Office Hours Call +353-1-416-8900

How RenTech launched a quant revolution — an interview with author Gregory Zuckerman

Last week, Zuckerman spoke about Simons as part of a Thinknum Alternative Data webinar series hosted by Thinknum’s chief growth officer, Marta …

Warren Buffett may be known as the Oracle of Omaha, and his return rate may be astonishingly consistent (20.5% annualized returns since 1965). But when it comes to investing, he’s no Jim Simons.

Simons, the mathematician who launched hedge fund Renaissance Technologies back in 1982, has amassed billions thanks to his quantitative approach to investing. His returns since then? A whopping 39%. Simons has confounded Wall Street insiders due to his secretive nature — he rarely speaks to reporters and doesn’t let employees attend industry conferences.

Though there’s a lot left to the imagination regarding Simons and his methods, veteran Wall Street Journal writer Gregory Zuckerman has shed some light on the man in his new book, “The Man Who Solved the Market: How Jim Simons Launched a Quant Revolution,” a New York Times and Wall Street Journal bestseller.

Last week, Zuckerman spoke about Simons as part of a Thinknum Alternative Data webinar series hosted by Thinknum’s chief growth officer, Marta Lopata. Watch a replay of the webinar here.

Thinknum: When you started talking about why you wrote the book in the first place, you talk about this merger of human and machine. Do you think that like that’s a step forward from what RenTech is doing? Or a step backwards?

Zuckerman: I think it’s a step forward for the industry. One thing I’ve also concluded from my research is the importance of systems. So if you look at all the most successful businesses today, Tencent, Facebook, et cetera, they’re all built on predictive algorithms, they’re all built on models. If you look at decisions that are made by important members of society, pilots, surgeons, they all have a checklist. They have a system. It’s been written how pilots and surgeons are both more successful because of these systems. Even a veteran surgeon has done this a million times as well. They still have to go through a checklist. It’s about having it in an organized way of thinking and approaching problems. It’s not to say that everyone has to be a quant today, but I think everyone has to use data and everyone has to embrace a systematic approach and the scientific method to some extent.

To me as a citizen, it’s scary that businesses are embracing this approach which is a much more efficient and logical approach. And yet the most important systems in our lives are not made with systems. You take a look at the government, you look at that or if you look at the White House. I mean, President Trump is proud of making decisions using his instinct, using his gut, and that scares me as a citizen. I come away with my research and writing this book much more, and I’m a storyteller.

But the biggest mistakes as investors in recent years, have been people that have succumbed to stories. If you look at WeWork, you look at Theranos, you look at Nikola, these are our storytellers — if you meet an executive, you think you can read them pretty well. And I’m just as guilty as anybody else. And it’s not to say that everything has to be 100% quant. I do believe that machine plus man or man plus machine is the best approach. And that is what Renaissance does.

Let’s talk about Mercer, and him being the one coming from IBM and building this incredible system to get with the rest of the team, and him being also the one that is investing with the least systematic political instructor we’ve seen. I think that’s interesting to see.

Yeah. At the office, he relied on science and data and outside the office, not so much. Yeah. We’re all human. I guess he is, too.

“It’s not to say that everything has to be 100% quant. I do believe that machine plus man or man plus machine is the best approach. And that is what Renaissance does” – Zuckerman

Many analysts these days are told to learn programming skills, and to be the merger of both the coder and the mathematician and the analysts. Is it more about divide and conquer or learning it all? I think some firms are trying to make their analysts learn and be both things. And everybody’s trying to find a way to have the best of two worlds. Do you see them as just hiring very niche specialists in this space or expecting people to know it all?

That’s a good question. I don’t expect people to know it all. No, they hire people who’ve got some expertise and they like to hire physicists. They like to hire astronomers, they love astronomers. They don’t hire astrologers, though. So if you’re an astrologer on this call, do not send a resume to Renaissance. So they like people with a scientific background and accomplishments.

I’ll just give you a sense of the people internally: they don’t see their competitive advantage as having the best, highest powered computers. They almost are self-mocking to some extent. They spend a lot of money on their infrastructure, don’t get me wrong, but they don’t think it’s the best out there. There are other firms that have a little bit better advantage there. And even their data — for a while, they had an advantage in terms of better data, older data than others.

But today, they acknowledge that everybody can get their hands on their data. When you talk to people who are there today, they’re not 100% sure why they’re so much better than everybody else. I don’t think they’re being quiet. They don’t go for drinks with somebody on Wall Street or another hedge fund. They don’t have any interaction with other firms. They don’t see themselves as competing really for talent with hedge funds and Wall Street, they see themselves competing with Facebook and Google, not DE Shaw, Two Sigma, or that kind of stuff. So it’s a unique organization. And they’re out on Long Island. So they’re almost like an academic organization unto themselves.

Most firms have silos, and you understand why they evolve. When someone does really well, so they’re rewarded. If the firm’s not doing so well, they give this person or this man or woman a group and employees. They don’t necessarily want to share their advances, these employees, but that’s just not how it works at Renaissance. There are presentations made by groups to groups. If one group has a problem, they shut their computers. The other groups can see the work they’ve done and they pick up on it and they improve on it. It’s just a unique organization.

Their hypothesis is that’s one of the big reasons why they’re bigger than everybody else. And they also have incentive to work with each other. So the way Jim Simons pays them is based on the Medallion fund. The way it was described to me by somebody who used to be there, he said, “Greg, I don’t mind getting a cup of coffee for somebody if it means helping Medallion improve.” It’s returned by a few basis points. And that’s sort of what happens to a lot of the people that get there. It’s not clear how they’re going to improve the system, and they have to figure it out. But it’s a very unique organization.

“The way it was described to me by somebody who used to be [at Rentech], he said, ‘Greg, I don’t mind getting a cup of coffee for somebody if it means helping Medallion improve'” – Zuckerman

So, I have a question from David Magerman. He’s asking about Peter Brown. He’s the genius of Renaissance that made it successful. Do you have any comments about Peter Brown specifically?

Yeah. So Peter wouldn’t talk to me for the book. And then I went to a speech he gave, I think it was probably in January. So he’s a very secretive guy. He didn’t want to talk to me back then, he didn’t want to talk to me today. But I do agree when he talked to people within the firm, they were worried. So what happened was Bob Mercer had to step down and he was co-CEO with Peter Brown. And Mercer is an odd individual, doesn’t talk that much. Not who you would think of as a great manager, but they work really well together, a yin and yang kind of thing which you’ll read in the book. So people were worried within the firm that Bob Mercer’s stepping down. And yeah, he’s still at the firm, but he’s not really running things like he used to. That move would really hurt the firm.

To Peter Brown’s credit, he’s actually much more outgoing than I had expected. He can be funny. People like working for him. He realized he needed help, and he deferred. My understanding from people there is he deferred a little bit more than they had expected. So he’s done an unbelievable job both in terms of equities breakthrough, but I’m also in terms of managing. And you wouldn’t think a quant would be a great manager, but in his own way, he’s good at managing other clients.

In your book, you mentioned the way RenTech specifically has relied on using very vast, large data sources. He also mentioned alternative data as one of the types of data that are being leveraged. Do you have any insights on how unique and how much data they’re using? What type of unique sources are there? I’m curious if you ever came across interesting examples of data sets that were being leveraged by them.

So the data that I did come across was the kind of stuff that back then — we’re talking a decade or two ago — was cutting edge or unusual, unexpected. And today, I think everybody else who’s doing it has caught up in that regard. By the way, it was described to me by someone there, “just assume we’ve tested everything.” All the stuff, we call it alternative data, but it’s all data.

They were just technical analysts to some extent, and they believed in the technical approach. It was all pricing data and that’s what they were collecting. They went to the Federal Reserve and were jotting down gold prices and other kinds of prices going back decades and cleaning it and improving on it. That was until I think the mid-90s, early 2000s. From that point on, it became more than pricing data, it became everything else. So today, I’m not aware of what it is that’s better or different than others. I just know that it’s everything.

During your research, what were the main messages you got from talking to RenTech competitors, like DE Shaw, Two Sigma, et cetera?

I’ve talked to some of those people about the organizations and they said to me, “We wish we could be organized like Renaissance, in terms of no silos, in terms of rewarding people based on the one fund.” You’ve got other funds now with Renaissance, but the Medallion is still key. It could be one of those things that once you’ve started it’s hard to change. And they say, “well Greg, we’ve evolved this way and we’ve got the silos for a reason, and we all know that’s not ideal.”

It’s also important to remember that there are other really successful trading quant firms like Two Sigma. They’ve got this partners fund which is more comparable to Medallion. Pete Muller, tremendously successful. And that’s also what Pete Muller does, that’s what Two Sigma does to some extent. And we’re talking medium frequency, not high frequency, and yet not long-term. And it’s distinguishing that from AQR and other firms like that who manage a lot of money and are successful organizations, but their returns aren’t nearly the same and they just aren’t the same. It’s not the same approach. So those that have the best returns seem to have this similar approach.

One of the most important reasons why Medallion does so well is because Simons has kicked people out, and he only capped it at $10 million. One of the lessons I learned from reporting on all these firms over the years is when you get too big, returns suffer. I mean, John Paulson today is just as smart as he was back in 2007 when he pulled off the greatest trade ever. But what was the problem? You let that fund go to close to $40 billion.

They all say, “We’re going to be the exceptions. We are going to be the ones who manage all this AUM and still have great returns,” but they’ve never been able to. They start focusing on the management fee rather than the returns. Even if not consciously, you do so. So Simons has kept the fund at $10 million. Now, let’s be clear. He leverages it up. So they’re still managing a lot of money, but he gives back all the returns each year. So that’s been a big advantage for them, that other firms haven’t really done except in their own sort of partners fund. Shaw’s gotten really big, Two Sigma’s big, and Renaissance themselves and their public funds have gotten too big, and the returns have gotten hurt as a result.

“One of the lessons I learned from reporting on all these firms over the years is when you get too big, returns suffer” – Zuckerman

The common thread is the unique management that you’ve mentioned from both what the competitors are talking about, and from your own research. Do they claim that their models are remaining the same or do they claim that they’re constantly tweaking them? Did they have a specific methodology?

So they have some core approaches, signals that have worked for years, but many others, if not most others, are adjusting, and are new. The market is changing. Or at least until recently it had been changing, where you have fewer individual investors, if you were a dentist trading the market. And to some extent you want to go overboard. Medallion, Renaissance have made money off of those behavioral mistakes made by individual investors, and by hedge fund managers, and by traditional active managers. To some extent, Renaissance does make money off of those people.

As the market shifts to have more passive investing, more ETFs and such, that doesn’t mean that the market is changing for fewer people, they can’t take advantage of it. And the markets are evolving in a different way. And the patterns are changing so much in the way of ETFs. And maybe with Robinhood and avid Robinhood investors, that’s been some kind of help to Medallion. I posed that question internally and the response was, “Well, yeah, Greg, that would be a concern if that was happening overnight.” In other words, if the market was evolving to be more dominated by ETFs and passive investing overnight then we’d be in trouble. But it’s not overnight. It’s happening slowly. So we can still find these patterns and take advantage of them.

How much of the alpha is based on the speed and liquidity provision versus the predictive models?

Yeah, I don’t think it’s the speed. It’s not to say speed isn’t important, but the people internally don’t think that’s where the most alpha comes from.

Global Digital Asset Trading Platform Market: Key insights, Top Players, Business Overview …

This report on Global Digital Asset Trading Platform Market research study and analytical review is a … Traditional Cryptocurrency Exchanges Type

Global Digital Asset Trading Platform Market is designed and demonstrated to quickly glance at the detailed value chain analysis and follow nitty-gritty alterations in the market that significantly align with revenue generation and market sustenance prerogative.

This report on Global Digital Asset Trading Platform Market research study and analytical review is a highly dependable ready-to-refer synopsis to induce novel perspectives about various concurrent and past events prevalent in the market.

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The report is aimed to remain a reliable information source to encourage versatile decision making in Global Digital Asset Trading Platform Market, in the interest of both amateur as well as established market players willing to establish a strong footing amidst staggering competition.

Get a sample of the report @https://www.orbisresearch.com/contacts/request-sample/3420886?utm_source=Manjiri

The Major Players Covered in Global Digital Asset Trading Platform Market are:

The key players covered in this study

CoinDesk

Bakkt

BitMax

Bittrex

Interdax

Devexperts

ErisX

Bit Mon Ex

Ledger Vault

Kraken

Global Digital Asset Trading Platform Market by Type:

Segment by Type, the product can be split into

Traditional Cryptocurrency Exchanges Type

Direct Trading Platforms Type

Cryptocurrency Brokers Type

Global Digital Asset Trading Platform Market by Application:

Segment by Application, split into

Public Traded Funds

Private Buy-and-Hold Funds

Hedge Funds

Market segment by Regions/Countries, this report covers

United States

Europe

China

Japan

Southeast Asia

India

Central & South America

Read complete report @ https://www.orbisresearch.com/reports/index/global-pandc-insurance-software-market-size-status-and-forecast-2019-2025?utm_source=Manjiri

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Market Trends

The report in this section minutely isolates the dominant trends as well as upcoming ones that drive fast track adoption in Global Digital Asset Trading Platform Market

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The report assesses the diverse opportunities that market players and manufacturers unwind to target high growth probabilities in Global Digital Asset Trading Platform Market

Major Drivers: Global Digital Asset Trading Platform Market

This section of the report highlights the various drivers that accelerate high potential growth based on highly accurate and real time data

Challenges:

The report examines the risks associated with new technology milestones that induce agility

Vendor Profiling and Regional Segmentation

The report draws references of an extensive analysis of the Global Digital Asset Trading Platform Market, entailing crucial details about key market players, complete with a broad overview of expansion probability and expansion strategies.

The market has been thoroughly studied and analysis of current economic scenario has also been entailed to aid business planning of the new market entrants besides core investment decisions across emerging countries.

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  • Decisive analysis based on internationally acknowledged research protocols such as PESTEL analysis as well as Porter’s Five Forces have all been mentioned in the report to initiate logical deductions as well as subsequent business discretion for sustainable revenue streams in the market.
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  • Details on manufacturer information, regional segmentation as well as COVID-19 specific information have also been shared in the report.
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  • A thorough understanding of market dynamics comprising drivers, trends, challenges and threats that pose tremendous influence towards market growth course.

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Morgan Stanley Boosts Despegar.com (NYSE:DESP) Price Target to $7.50

Morgan Stanley’s target price would suggest a potential upside of 11.28% from the stock’s previous close. Several other analysts also recently …

Despegar.com logoDespegar.com (NYSE:DESP) had its target price hoisted by equities research analysts at Morgan Stanley from $7.00 to $7.50 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 11.28% from the stock’s previous close.

Several other analysts also recently weighed in on the company. ValuEngine upgraded Despegar.com from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 11th. Zacks Investment Research raised Despegar.com from a “sell” rating to a “hold” rating in a report on Monday, August 24th. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $8.33.

Despegar.com stock opened at $6.74 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.39 and a current ratio of 1.39. The business’s 50-day simple moving average is $7.51 and its two-hundred day simple moving average is $7.40. The company has a market cap of $469.43 million, a PE ratio of -5.96 and a beta of 2.17. Despegar.com has a fifty-two week low of $4.44 and a fifty-two week high of $15.44.

Despegar.com (NYSE:DESP) last posted its quarterly earnings results on Friday, August 21st. The company reported ($0.31) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.48) by $0.17. The business had revenue of ($9.73) million for the quarter, compared to the consensus estimate of $3.40 million. Despegar.com had a negative return on equity of 23.86% and a negative net margin of 8.13%. As a group, analysts predict that Despegar.com will post -1.16 EPS for the current fiscal year.

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Several hedge funds have recently modified their holdings of DESP. State Street Corp lifted its holdings in shares of Despegar.com by 4.0% in the 1st quarter. State Street Corp now owns 157,792 shares of the company’s stock valued at $895,000 after buying an additional 6,114 shares during the period. JPMorgan Chase & Co. acquired a new position in Despegar.com in the 1st quarter worth about $393,000. Alliancebernstein L.P. acquired a new position in Despegar.com in the 1st quarter worth about $410,000. Wells Fargo & Company MN acquired a new position in Despegar.com in the 1st quarter worth about $53,000. Finally, Loomis Sayles & Co. L P raised its holdings in Despegar.com by 150.2% in the 1st quarter. Loomis Sayles & Co. L P now owns 65,750 shares of the company’s stock worth $373,000 after purchasing an additional 39,474 shares during the period. 50.15% of the stock is owned by institutional investors and hedge funds.

About Despegar.com

Despegar.com Corp. provides online travel agency services. It offers tours and corporate packages to destinations such as Paris, Cancun, Rio de Janeiro, Rome, Barcelona, and Las Vegas, as well as vehicle rentals and hotel bookings. The company was founded by Roberto Hernán Souviron, Federico Fuchs, Martín Rastellino, Ernesto Cadeiras and Christian Vilate in December 1999 and is headquartered in Buenos Aires, Argentina.

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10 Oversold Stocks That Are Ready For a Comeback

A fundamental concept of investing is to buy stocks at a value. One strategy used by investors is to focus on stocks that are oversold. Fundamental analysis can give investors an idea of certain stocks to look at. However, momentum is also important. For that reason, investors look for technical indicators to help them find oversold stocks that might be ready for a comeback.

One of the most popular tools is the Relative Strength Index (RSI). The RSI is a momentum indicator that measures the velocity and magnitude of price movements. The index also compares them with the magnitude of average gains and average losses.The formula for calculating RSI is as follows:

RSI = 100 – ( 100 / 1 + RS)Where RS (Relative Strength) is the average gain divided by the average loss.

Investors can use virtually any timeframe they wish. One of the most common is a 14-day RSI. Decreasing the number of days makes the RSI more sensitive to price changes. Conversely increasing the number of days makes the indicator less sensitive to price changes.Investors may have different overbought or oversold indicators, but standard benchmarks are a stock may be overbought if its RSI exceeds 70 and may be oversold if its RSI exceeds 30.

The stocks in this presentation are chosen for a variety of fundamental and technical indicators. And all the stocks have been affected in one form or another by the Covid-19 pandemic.

View the “10 Oversold Stocks That Are Ready For a Comeback”.