Billionaire Ray Dalio: Don’t Take on Debt Until You’ve Asked Yourself This Question (CNBC)
Many young people are deep in debt: Millennials between the ages of 25 and 34 have an average of $42,000 of debt per person and members of Gen Z (ages 16 to 20) already have an average debt of $4,343. And as interest rates rise, that debt is often becoming more expensive to pay off. Billionaire investor Ray Dalio, the founder of the world’s largest hedge fund, Bridgewater Associates, advises young people to do a bit of analysis before they agree to take out a loan. “Be very careful about debt,” Dalio tells CNBC Make It. “Some is good and some is bad.”
Investor Disquiet at Nestlé Grows Beyond Activist Third Point (The Wall Street Journal)
Nestlé SA’s chairman is facing mounting opposition from some shareholders who say the former chief executive isn’t helping his successor’s efforts to reinvigorate growth at the world’s largest packaged-foods maker. The maker of Nescafe coffee and Purina pet food has been under pressure since activist investor Daniel Loeb’s Third Point LLC disclosed a $3.5 billion stake in the company last year and called for a raft of changes.
Barington Pushes for Independent Chair at Bloomin’ Brands (Reuters)
NEW YORK (Reuters) – Activist investor Barington Capital Group L.P. on Monday turned up the heat on Outback Steakhouse owner Bloomin’ Brands Inc’s board by urging it to hire an independent chair to push management to spin off three smaller restaurant chains. The New York-based hedge fund said Bloomin’ Brands chief executive, Elizabeth Smith, who also serves as board chair, has held the company back, blaming her for a lagging stock price, lower revenue growth and a lack of strategic focus.
At George Soros’s Home in N.Y. Suburb, Explosive Device Is Found in Mailbox (The New York Times)
The explosive device found in a mailbox at the home of George Soros, the billionaire philanthropist, on Monday afternoon was relatively small, a senior law enforcement official said on Tuesday. The device was “proactively denotated” by bomb squad technicians from the Westchester County Police Department. The bomber’s motive remained unclear. Mr. Soros is a favorite target of right-wing groups. He was not home at the time.
Left-Leaning Billionaires Soros, Bloomberg, Steyer Trying to ‘Buy’ Congress: Kevin McCarthy (Fox Business)
As campaigning for the midterm elections reaches a fever pitch, some wealthy businessmen are pouring an outsized amount of funds into the coffers of Democratic candidates, according to one Republican congressman. House Majority Leader Kevin McCarthy, R-Calif., told FOX Business’ Maria Bartiromo on “Mornings with Maria” Tuesday that three business leaders in particular were using their wealth to disproportionately influence the elections. “The real challenge that we have is three individuals who are trying to buy the Congress and flip it,” McCarthy said. “One is [George] Soros, one is Tom Steyer [who] has spent more than $120 million and then [Michael] Bloomberg where you saw … all that entertainment of what he brought forward, saying he re-registered as a Democrat a week ago. He also gave [an] $80 million check to win the House and a $20 million check to win the Senate because he wants to run for president and he’s trying to buy the nomination.”