Pimco Adviser Sees ‘The Trade of a Decade’ in Emerging Markets (Bloomberg)
Emerging-market assets are so cheap that they may be “the trade of a decade,” according to Research Affiliates LLC, a sub-adviser to Pacific Investment Management Co., one of the world’s biggest money managers.
G-20 Finance Officials to Urge Economic Overhauls (WSJ)
The problem is figuring out how to revive demand in a world where central banks are running out of gas and most of the world’s biggest growth engines are downshifting, idling or struggling to get out of first gear. The solution, many G-20 officials have indicated in recent days, is a stronger effort to restructure stagnating economies and increase investment in infrastructure.
Citi: Here Comes A Global Recession (Bloomberg)
"The long-standing fragilities in the world economy relate to the structural and cyclical slowdowns in China and its unsustainable exchange rate regime, the excessive level of debt across many countries and sectors and ongoing regional and geopolitical uncertainty," the economists said. The economists have accordingly revised their forecast for growth this year in advanced economies, from a 2.4 percent in January 2015 to 1.6 percent currently, and warned that the 2016 figure "could well be lower."
Jobless Claims Rise in U.S. Holiday Week From 3-Month Low (Bloomberg)
Jobless claims increased by 10,000 to 272,000 in the week ended Feb. 20, a report from the Labor Department showed on Thursday in Washington. The median forecast of 46 economists surveyed by Bloomberg called for 270,000. The average over the past four weeks was the lowest so far this year.
Man Changes Name To 'Bacon Double Cheeseburger' (Yes, Alcohol Was Involved) (HP)
A British man formerly known as Simon Smith has changed his name to something slightly more carnivorous: "Bacon Double Cheeseburger." The change was inspired, like many bad ideas, by an evening of drinking. “It was the culmination of probably too many drinks in the pub where there was a conversation about names," Cheeseburger told the Evening Standard. “Bacon Double Cheeseburger was pretty much the first thing that came up. Everyone loves bacon don’t they?" Cheeseburger said his new name hasn't affected his career as a consultant in the oil and gas industry. "My work speaks for itself... people keep hiring me," he told the BBC.
Protesters bypass hotel security to disrupt investors conference (NYP)
More than a dozen hedge fund-hating protesters, many wearing red T-shirts that read “Hedge Funds = Inequality,” shoved a female conference organizer out of the way and stormed into the Grand Ballroom, chanting and yelling, sources told The Post...The protesters were from a group called Hedge Clippers, an outgrowth of Occupy Wall Street. They have disrupted several hedge fund conferences in the last year or so. As the group barged into the ballroom, Avenue Capital’s Marc Lasry was on the stage speaking about opportunities in credit, a source who attended the confab said.
U.S. Hedge Fund Elliott Faces Probe into Samsung Stake (WSJ)
Elliott’s trading activity suggests the firm may have violated a law that requires companies to immediately disclose their investments once a holding in a specific entity exceeds 5%, an official with the Financial Services Commission’s capital-market investigation unit said. She didn’t elaborate on the details of the transactions.
Beijing overtakes NYC as ‘Billionaire Capital of the World’ (AP)
The Chinese capital has overtaken the Big Apple as home to the most billionaires — 100 to 95 — according to Hurun, a Shanghai firm that publishes a monthly magazine and releases yearly rankings and research about the world’s richest people and their spending habits.
Elephant paints self-portrait at Thailand sanctuary (UPI)
An elephant at a Thailand sanctuary showed off her art skills by using her trunk to pick up a brush and paint a self-portrait. Suda, a 4-year-old resident of the Maetaeng Elephant Camp in Chiang Mai, is one of several elephants at the park trained to paint pictures for visitors. A video originally posted by YouTube user Fschleyhahn shows Suda using a brush and paper clipped to an easel to paint a self-portrait.