February 15, 2017 / 5:03 PM / 10 months ago

Business Watch: Guru bets

Jumping ship

The Dow Jones Industrial Average is displayed on a screen at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S. December 27, 2016. REUTERS/Andrew Kelly

Hedge funds had a killer start to the year, and some financiers are seizing on the moment. Morgan Stanley’s chief U.S. equity strategist, Adam Parker, is leaving the firm to join hedge fund Eminence Capital as its director of quantitative strategy.

‘FANG’ feel Trump heat

Trump’s proposed policies of lower taxes, write-offs of capital expenditures and tensions between tech companies and the administration pushed hedge funds away from so-called “FANG” stocks like Facebook, Amazon and Alphabet.

Filings flood

Here are a few higlights from a deluge of regulatory filings filed yesterday: Soros pulled out of gold and bought financial stocks, Buffett’s Berkshire nearly quadrupled its stake in Apple as shares of the tech behemoth hit a new all-time high. Billionaire activist investor Carl Icahn kept betting on Herbalife, but divested from PayPal.

Green biz

A firm controlled by Philip Anschutz, the billionaire entertainment and pro sports magnate, will soon build the largest wind farm in the United States to serve utilities in California. Here’s a map of the project.Valentine break-up

Health insurer giant Anthem filed a lawsuit to block smaller rival Cigna from terminating their proposed $54 billion deal.

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