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Florida Teachers Pension Fund Invested in Maker of School Massacre Gun

As Florida teachers grieve over the mass shooting that left 17 students and colleagues dead last week, some of them may be surprised to learn they’ve been helping fund the firearms industry—including the company that made the gun used that bloody Wednesday.  A state pension plan for Florida teachers held 41,129 shares in American Outdoor Brands Co. valued at more than a half-million dollars, according to a Dec. 31 securities filing listing the plan’s Students evacuating Marjory Stoneman Douglas High School on Feb. 14. 2017 annual report. The fund had a $528,000 holding in…

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This Tiny Hedge Fund Just Made 8,600% On a Vix Bet

Not everyone got crushed when the market collapsed. For traders at a little-known Denver hedge fund who saw it coming, it was the score of a lifetime — a $17.5 million payday on a $200,000 bet. “People were laughing at us, saying this could never happen, this should never happen,” Justin Borus, the 41-year-old founder and manager at Denver-based Ibex Investors, said in an interview. “We saw people pricing this as a 1-in-5,000 event, but it was more like a one-in-five-year event.” Borus’s team bet that an exchange-traded fund linked to…

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Fidelity Reports Web Issues After Robo-Adviser Sites Crash

Fidelity Investments had intermittent technology issues with its website a day after robo-advisers struggled in the market rout. Fidelity customers faced some difficulties accessing the firm’s home page on Tuesday. By early afternoon, the issues were resolved, said Michael Aalto, a company spokesman. The websites of two of the country’s biggest robo-advisers — Wealthfront Inc. and Betterment LLC — crashed on Monday as the S&P 500 Index sank. Complaints quickly spread across Reddit and other internet sites from people who had trouble logging onto their accounts. “Really?” wrote Read more:…

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Bitcoin Newbies Are Getting Crushed While Old Timers Bemoan `Weak Hands

For Bitcoin investors, these are the times that try one’s soul. After surging to almost $20,000 in December following the introduction of regulated futures contracts in the U.S., the world’s largest cryptocurrency has lost more than half its value, plummeting to as low as $7,614 on Friday. It regained some ground on Saturday, rising 7.5 percent to $9,290.15 as of 2:58 p.m. in New York, according to Jamie Dimon to Nouriel Roubini have labeled as one of the biggest asset bubbles in history began showing signs of deflating. Selling by…

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Da Vincis Christ Portrait Shatters Art Record With $450 Million Sale

“Jesus Christ.” That was the reaction of mega art dealer Larry Gagosian after a rediscovered painting by Leonardo da Vinci became the most expensive work ever sold, soaring to $450.3 million at a Christie’s auction in New York on Wednesday. Alex Rotter, the auction house’s co-chairman of postwar and contemporary art in the Americas, placed the winning bid on behalf of an unidentified client after a 19-minute war that saw offers at $200 million, $300 million and $350 million fall short. The result obliterated previous world records for an art sale of…

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Twitter Cracks Down on Verified Accounts With New Policy

tweet, “this perception became worse when we opened up verification for public submissions and verified people who we in no way endorse.” Earlier this month, the social network stopped the system of authenticating a user’s identity with a blue check mark after drawing intense tweeted a screen shot of a note he received from Twitter, saying that his verified badge will be permanently removed “after determining that your account does not comply with Twitter’s guidelines.” The company has also removed the blue check mark from conservative commentator

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Snap Is Looking a Lot Like Twitter After Another Earnings Miss

Snap Inc. went to great disappointing revenue and user growth, in its third-quarter results. Chief Executive Officer Evan Spiegel even highlighted that Snapchat isn’t easy enough for many to use, echoing similar complaints about Twitter. Snap’s surprise disclosure Wednesday morning that Tencent Holdings, China’s biggest instant messaging company, had analysts cut their ratings. Snap has now fallen 25 percent since its March IPO, bringing its market capitalization to within $900 million of Twitter’s. Of course, Snap’s valuation is still richer. Twitter is projected to have about three times the revenue…

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Papa John’s Blames the NFL for Hurting Pizza Sales

Papa John’s International Inc. founder John Schnatter is going after NFL Commissioner Roger Goodell, saying weak handling of the league’s national-anthem controversy has hammered sales of his pizza. “The NFL has hurt us by not resolving the current debacle to the players’ and owners’ satisfaction,” Schnatter, who serves as the pizza chain’s chairman and chief executive officer, said on a conference call. “NFL leadership has hurt Papa John’s shareholders.” The remarks follow a controversy over NFL football players protesting during the national anthem, a movement that started last season. The demonstrations…

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Bitcoin Futures Could Open the Floodgates for Institutional Investors

Bitcoin is spiking to a record after CME Group Inc. said it’s planning to launch bitcoin futures as the move could open the floodgates of investors who have been standing on the sidelines as bitcoin soared over 500 percent this year. The cryptocurrency jumped as much as 5.2 percent to $6,416.39 after the CME said it will start offering trading the derivatives in the fourth quarter. Futures will be settled in cash based on a bitcoin index that CME started calculating in November.  The move comes after the Chicago Board Options…

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Somalia Readies for ‘State of War’ as Death Toll Up to 358

Mogadishu, Somalia (AP) — Somalia's president on Saturday urged troops to prepare for a "state of war" against the al-Shabab extremist group blamed for the country's deadliest attack, as the toll reached 358 with dozens still said to be missing a week after the truck bombing in Mogadishu. The United States is expected to play a supporting role in the new offensive, a Somali military official told The Associated Press. The official spoke on condition of anonymity because he was not authorized to speak to reporters. While President Mohamed Abdullahi…

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Odds and Ends 

Report: Jared Kushner used a private email server for White House work

President Donald J. Trump’s son-in-law and official White House adviser, Jared Kushner, used a private email server — set up after the election — to conduct White House business, according to a new report in Politico. Kushner used the private account in tandem with his official White House email account to correspond with current and former senior White House officials, outside advisers and others, about subjects ranging from media coverage to event planning. Politico said it has verified at least two dozen emails coming from the private account. A lawyer…

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Erroneous Reports About Tom Petty’s Death Cause Confusion

Los Angeles (AP) — For several hours Monday, music lovers believed Tom Petty was dead. Courtney Love, Talib Kweli, Kid Rock, Cyndi Lauper, Paul Stanley and Lin-Manuel Miranda were among scores of fans posting remembrances on Twitter, where Petty was the top worldwide trending topic Monday afternoon. A memorial was scheduled for his star on the Hollywood Walk of Fame. But the 66-year-old entertainer is still alive, and news outlets that announced his death Monday retracted their stories later Monday. The Walk of Fame tribute was canceled. The confusion started…

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Ban Kneeling Pro Athletes, Trump Repeats After Curry Slam

President Donald Trump, a one-time football team owner, is ratcheting up his rhetoric against professional sports and some of their stars — and at least one league and some athletes are giving it back to him. Hours after profanely criticizing NFL players who protest police brutality by kneeling during the national anthem, Trump took to Twitter on Saturday to disinvite National Basketball Association star Stephen Curry from a White House appearance traditional for championship sports teams. His winning team, the Golden State Warriors, said it won’t visit Trump. US President Donald…

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Odds and Ends 

The US Government must work with tech companies if it wants to remain competitive in AI

U.S. Secretary of DefenseJames Mattis is concluding his tech tour of the West Coast today with a visit to Googles Mountain View campus.Mattis spent time at Amazon and DiuX, the Defense Innovation Unit Experimental, earlier in the week. His key takeaway from all the socializing with tech leaders is that the Department of Defense needs to embrace technology coming out of the private sector if it hopes to stay ahead of the technological curve. In a briefing beforeMattis media address at DiuX,Sean Singleton, director of business development for the unit,…

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