Eric Schmidt, executive chairman of Google's parent company Alphabet, is worth an estimated $11 billion. While a significant amount his wealth comes from stock he received as Google's CEO, the billionaire credits a few personal finance strategies with helping build his net worth. This isn't the only piece of advice Schmidt has for professionals.
Don't get lulled into thinking the major market selloff on Tuesday was a one-off. Without question, the fact stocks didn't fall through a trap door on Wednesday was a feather in the caps of the bulls. All the elements were in place for a follow-through plunge: a vicious, cowardly attack out front of the U.K. Parliament, rising fears on the Trump/Ryan healthcare bill passing and a growing number of forecasters coming out from under their rocks to proclaim the bull market is about to die. Not helping matters was a continued drumbeat of retail death stories such as Payless possibly closing 500 stores, Bebe (BEBE) on the verge of shuttering 170 stores and Sears Holdings' (SHLD) CFO spreading #fakenews
Remember when Bristol-Myers Squibb (BMY) was getting hit so hard that everyone was wondering whether it would find itself acquired by another pharmaceutical, with Pfizer (PFE), Novartis (NVS), Gilead Sciences (GILD), and Roche mentioned as possible buyers? In a note released yesterday, Credit Suisse analyst Vamil Divan and team revisit the possibility of Pfizer taking over Bristol-Myers with their colleagues at the firm’s HOLT team…and find that it just might provide “an opportunity for value creation” after all. Overall, HOLT® suggests that an acquisition of BMY by PFE would have a positive impact on PFE’s return on capital profile when assuming industry average synergies for a deal of this nature.