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‘One of the giants’: Monsignor Nicholas J. Soares, 90, a longtime Staten Island pastor, has diedBLUE WHALE GROWTH: Fund's prediction... a fall in share prices of US big tech By JEFF PRESTRIDGE Updated: 16:51 EST, 28 December 2024 e-mail View comments Investment fund Blue Whale Growth has made a lot of money for investors since its launch more than seven years ago – and manager Stephen Yiu is determined to keep the impressive track record going. The £1.2 billion fund, backed by billionaire Peter Hargreaves, has delivered a total return of 162 per cent since launching in September 2017 – equivalent to an annual return of more than 14 per cent, net of fees. Yet Yiu is not resting on his laurels. His aspiration is to deliver annual returns of 15 per cent, although not in a straight line. Though running a tight portfolio, comprising just 26 global stocks and one which remains fully invested at all times, Yiu is not frightened to make big calls. Unlike some global fund managers, Blue Whale Growth is light on the 'magnificent seven' US stocks – big drivers of the US stock market in recent years – and big on 'idiosyncratic' companies which he believes have businesses capable of withstanding any economic slowdown or sharp market corrections. Currently, the fund only holds shares in magnificent seven stocks Nvidia (8 per cent), Meta (3 per cent) and Microsoft (1.5 per cent). 'We do not own Alphabet, Amazon, Apple or Tesla,' says Yiu. 'In effect, we are overweight in Nvidia and short on the other magnificent six.' This time last year, the respective holdings in Nvidia, Meta and Microsoft were 9, 4 and 8 per cent. Yiu's view is that the 'narrative could change' next year for the magnificent seven – chipmaker Nvidia excepted – as revenues are eroded by vast expenditure on artificial intelligence (AI). This, he says, could lead to corrections in their share prices and a 'year of reckoning' for funds that track the Standard & Poor's 500 Index, of which the big technology stocks are a key component. RELATED ARTICLES Previous 1 Next ALLIANCE WITAN: Merger gives investment trust coveted place... Will the UK stock market be the one to back in 2025? Shares... Share this article Share HOW THIS IS MONEY CAN HELP How to choose the best (and cheapest) stocks and shares Isa and the right DIY investing account Unlike active funds such as Blue Whale Growth, such tracker or passive funds cannot reduce their exposure to the big tech giants ahead of any sell-off. 'They must hold the S&P 500,' he says. 'Maybe, next year, we could see a rejuvenation of investor interest in active funds generally.' Blue Whale Growth has exposure to the AI theme beyond the magnificent seven. It has key holdings in US companies Broadcom (its biggest holding) and Vertiv. 'Broadcom,' says Yiu, 'could be the new Nvidia in terms of outperforming the rest of the market.' Yet Yiu also has big stakes in companies that he describes as 'idiosyncratic' – businesses that should grow irrespective of the prevailing economic conditions. Among them is US-listed sports betting and gaming company Flutter which Yiu says is on a 'great journey' as more American states legalise sports gambling. 'American consumers like their sport and their gambling,' he adds. Other idiosyncratic holdings include German company Sartorius and US-listed Danaher, both making waves in bioprocessing. There is also US tobacco stock Philip Morris which has diversified into nicotine pouches and smoke-free alternatives to conventional cigarettes. Blue Whale Growth's success means, provided the fund finishes the year above £1billion, it will rebate one per cent of its annual management charge to investors. Most investors in this fund pay an annual management charge of 0.75 per cent, so the rebate will drop this fee to 0.7425 per cent. It will be cut by another one per cent if – 'when' (Yiu's word) – the fund gets to £2 billion. While three-quarters of the fund's assets are exposed to US-listed shares, only 40 per cent of the revenues generated by all the holdings are from the US. DIY INVESTING PLATFORMS AJ Bell AJ Bell Easy investing and ready-made portfolios Learn More Learn More Hargreaves Lansdown Hargreaves Lansdown Free fund dealing and investment ideas Learn More Learn More interactive investor interactive investor Flat-fee investing from £4.99 per month Learn More Learn More Saxo Saxo Get £200 back in trading fees Learn More Learn More Trading 212 Trading 212 Free dealing and no account fee Learn More Learn More Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. 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TAMPA, Fla. (AP) — Jake Evans scored for the career-high fifth consecutive game and the surging Montreal Canadiens beat the Tampa Bay Lightning 5-2 on Sunday night. Christian Dvorak, Joel Armia, Brendan Gallagher and Alex Newhook also scored to help the Canadiens win for the fifth time in six games. Sam Montembeault made 21 saves. Nikita Kucherov and Brandon Hagel scored for Tampa Bay. Jonas Johansson stopped 31 shots. Newhook opened the scoring on a one-timer midway through the first period. Hagel tied it 37 seconds into the second period, but Dvorak and Evans scored 5:54 apart in the period for a two-goal Montreal lead they would not relinquish. SABRES 4, BLUES 2 ST. LOUIS (AP) — Jason Zucker scored a tiebreaking power-play goal with 9:30 remaining and Buffalo notched their third straight victory by beating St. Louis. Jiri Kulich extended Buffalo’s lead with a breakaway goal that went between Blues goalie Jordan Binnington’s legs with 3:41 to play. Tage Thompson had a goal and an assist against his former team as the Sabres won in St. Louis for just the second time in 12 years to sweep the season series. Zucker had a goal and an assist, and Jack Quinn had two assists for Buffalo. Ukko-Pekka Luukkonen stopped 35 shots. Brayden Schenn and Nathan Walker scored for the Blues. Binnington had 12 saves. Buffalo scored on two of its first three shots, including its first of the game. DUCKS 5, OILERS 3 ANAHEIM, Calif. (AP) — Ryan Strome scored with 2:36 remaining as Anaheim rallied from a two-goal deficit in the second period to defeat Edmonton. Strome’s goal, his sixth of the season, originally wasn’t called, but it was reversed after a review. Strome’s shot was entirely over the goal line before Edmonton goalie Calvin Pickard could stop it with his skate. Mason McTavish added an empty-net goal. It is the first time since March 30, 2019, the Ducks have defeated the Oilers by more than one goal. Cutter Gauthier, McTavish and Robby Fabbri each had a goal and an assist. Drew Helleson also scored for Anaheim, which snapped a seven-game losing streak to Edmonton. Lukas Dostal made 20 saves. Leon Draisaitl had two goals and Connor McDavid two assists for the Oilers, who were 3-0-1 in their past four. Evan Bouchard also tallied a goal and Pickard stopped 27 shots. RED WINGS 4, CAPITALS 2 DETROIT (AP) — Patrick Kane reached the 1,300-point mark and Todd McLellan won for the first time as Detroit’s coach in their victory over Washington. Kane, who needed two points to reach that mark, had a power-play goal and assist during Detroit’s four-goal first period. Alex DeBrincat scored two goals and Lucas Raymond added another as the Red Wings snapped a four-game losing streak. Alex Lyon made 26 saves. McLellan replaced Derek Lalonde prior to Friday’s loss to Toronto . Alex Ovechkin scored for the second consecutive game after missing the previous 16 due to a fractured fibula . The Capitals star forward is 25 goals shy of passing Wayne Gretzky’s NHL record of 894 . Nic Dowd had the other Capitals goal. Charlie Lindgren made 23 saves but Washington remained one point behind first-place New Jersey in the Eastern Conference. PENGUINS 3, ISLANDERS 2 PITTSBURGH (AP) — Sidney Crosby broke Mario Lemieux’s Pittsburgh franchise career record for assists on Michael Bunting’s power-play goal and the Penguins beat New York. Crosby has 1,034 assists, good for 12th in NHL history. Only three players — Ray Bourque, Wayne Gretzky and Steve Yzerman — have more assists with a single team. The 37-year-old Crosby has played 1,310-regular-season games. Lemieux played 915. Evgeni Malkin added the deciding power-play goal in the third for Pittsburgh, which has 14 goals with the man advantage in its last 13 games. Anthony Beauvillier also scored to help the Penguins win for the seventh time in their last eight home games. Alex Nedeljkovic made 29 saves in his first start since Dec. 17. Kris Letang missed the game because of a lower-body injury, and defenseman Nathan Clurman made his NHL debut. Anders Lee and Bo Horvat scored third-period goals for the Islanders, who fell behind 3-0 before their rally fell short. Marcus Hogberg stopped 38 shots during his first start since April 28, 2021. GOLDEN KNIGHTS 3, FLAMES 0 LAS VEGAS (AP) — Brett Howden scored his 15th goal of the season and Ilya Samsonov stopped 31 shots as Vegas Golden defeated Calgary. Howden redirected defenseman Alex Pietrangelo’s shot from the top of the slot late in the second period and is now tied with Ivan Barbashev for the team lead in goals. Howden has scored a goal in four of the last five games. Victor Olofsson and Tanner Pearson also scored for the Golden Knights, who have shut out Calgary twice this season, beating them 5-0 on Oct. 28 . Dan Vladar made 34 saves for Calgary. The Golden Knights have now won six straight, the longest active win streak in the NHL, while improving to 25-8-3 on the year. They own a 13-2-1 record against Pacific Division opponents. SENATORS 3, WILD 1 ST. PAUL, Minn. (AP) — Josh Norris broke a tie on a power play with 7:18 left, Leevi Merilainen made 30 saves in his fifth NHL game and Ottawa beat Minnesota. Ottawa has won seven of its past nine games, while the Wild have lost five of their past seven. The Senators won in Minnesota for the first time since 2016. With starter Linus Ullmark and backup Anton Forsberg out with injuries, the Senators have been relying on Merilainen and Mads Sogaard since before the NHL holiday break. Frederick Gaudreau opened the scoring for Minnesota late in the first period. Ridly Greig tied it early in the second. Claude Giroux added an empty-netter. STARS 5, BLACKHAWKS 1 CHICAGO (AP) — Matt Duchene and Jamie Benn each had a goal and two assists, and Dallas beat Chicago. Jason Robertson, Evgenii Dadonov and Wyatt Johnston each had a goal and an assist for Dallas, which had lost three of four. Jake Oettinger made 24 saves. Chicago dropped its fourth consecutive game. It lost three of four in its season series against Dallas. Connor Bedard scored his 10th goal for the Blackhawks, and Arvid Soderblom made 30 stops. Next up for Bedard and company is the Winter Classic on Tuesday against St. Louis. Dallas grabbed control after Chicago forward Tyler Bertuzzi was ejected 8:11 into the second period. Bertuzzi was sent off for elbowing Stars forward Colin Blackwell in the face. KINGS 5, FLYERS 4 LOS ANGELES (AP) — Anze Kopitar scored twice, Adrian Kempe had a goal and an assist, and Los Angeles got their seventh straight home win by beating Philadelphia. Kevin Fiala and Warren Foegele also scored for the Kings, who trailed 4-2 midway through the second period before rebounding to sweep a back-to-back after defeating recent playoff nemesis Edmonton in overtime on Saturday. David Rittich made 17 saves. Kopitar was in the right place to redirect Quinton Byfield’s rebound in and tie it at 4 early in the third, before following it up by chopping in Kempe’s shot during a power play at 8:55 for the 5-4 lead. Matvei Michkov had a goal and an assist for the Flyers after being benched for the third period against Anaheim on Saturday . Tyson Foerster, Scott Laughton and Joel Farabee also scored, and Aleksei Kolosov made 15 saves.The Richmond Battlefield is preparing for a festive celebration. Father Christmas will make his annual appearance. On Sunday, December 1, children and families can meet the beloved “Jolly Ol’ Elf” from 2 PM to 4 PM at the Pleasant View House, 1564 Battlefield Memorial Highway, just south of Richmond. The historical Pleasant View House, built around 1825, is significant. It was owned by the Barnett family and later the Kavanaugh Armstrong family during the Battle of Richmond in 1862. This year, Santa is embracing the spirit of tradition by sporting one of his classic outfits during his visit to the historic site of the Battle of Richmond. While his loyal elves and reindeer are busy preparing for Christmas Eve, Santa will be spreading holiday cheer and creating memorable moments for local families. Visitors are encouraged to bring their cameras to capture the magic of the occasion, making it a perfect opportunity for festive family photos or holiday cards. After visiting with Santa, families can enjoy refreshments provided by the dedicated volunteers of the Battle of Richmond. Although there is no fee to meet Santa, attendees are strongly encouraged to contribute to a goodwill initiative by bringing bundles of new, pre-packaged socks. These donations will support the upcoming 2024 Santa Claus Sock Drop, running from December 2nd through December 18th. Men’s, women’s, and children’s socks are needed, with a preference for thicker athletic varieties; please refrain from donating dress socks, no-shows, or footies. Donations can be dropped off at the Battle of Richmond Visitors Center at 101 Battlefield Memorial Highway during business hours, from 10 AM to 4:30 PM, Monday through Friday. For those needing to donate after hours, there is a convenient drop-off location on the front porch. The sock drive, which began in 2014 and was formerly called Project Warm Feet, has successfully collected over 25,000 pairs of socks to aid the homeless and less fortunate in the Richmond, Berea, and Madison County areas. Collected socks will be distributed to various organizations and local law enforcement agencies for emergencies. For further information about Santa’s visit or other events at the Battle of Richmond, please contact the Battle of Richmond Visitor Center at 859-624-0013 during regular hours.
BERKELEY, Calif. , Dec. 6, 2024 /PRNewswire/ -- Bamboo Technology , a mental health technology innovation company, is announcing its participation in Batch 19 of the prestigious UC Berkeley Skydeck IPP Program for startup acceleration. The company's HereHear AI therapist solution will be the key focus of the program, driven by the vision of revolutionizing mental health with AI-powered virtual solutions. To learn more about HereHear, please visit: https://www.youtube.com/watch?v=ngU32WgiWf4 "HereHear is here in the US, and I am truly grateful to the Berkeley Skydeck IPP Program for recognizing its potential," noted Lynia Huang , Bamboo Technology's CEO. "As important as mental health has become in recent years, there is a shortage of mental health providers and access to support is low — and HereHear is paving the way for AI to bridge that gap as a first line of defense." A growing case for incorporating AI into mental healthcare With data showing that the US is in a mental health crisis, the CDC recently noted a dire need for public health initiatives that create environments centered around mental health. Specific to the workplace, the Society for Human Resource Management's Employee Mental Health in 2024 Research Series found that 44% of US employees feel burned out at work. The combination of a shortage of mental health providers in the US with the flourishing capabilities of AI builds a strong case for the technology to be deployed in the form of human-guided mental health solutions. HereHear's YangYang: A personalized 3D virtual therapist As organizations seek out ways to empower team members to take better care of their mental health, AI is increasingly emerging as a solution for on-demand, personalized support. Offering a more engaging interaction than chatbots, HereHear's 3D virtual therapist YangYang was launched in January 2024 and offers: YangYang has already been implemented in several therapy clinics and has helped 70% of users improve stress and depression levels by 25% within 3 months. Taking the form of a sheep further distinguishes her — this functions both to provide a 'cute' aspect lending to the warm, healing emotional support she provides, while also helping users who are struggling emotionally to keep in perspective that their interactions are ultimately not with a human. Bringing success in Taiwan to the US market Bamboo Technology's acceptance into the Berkeley Skydeck IPP Program is a major accomplishment as the platform seeks to enter the US market. Batch 19 has only 117 startups out of around 2300 applications, and the program will support HereHear to develop, pilot and launch, as well as to pitch for funding. The company aims to target the app in the human resources space—as a tool for companies to offer staff for on-demand, privacy-first mental health support. Back in Taiwan , the app already has hospitals, mental health clinics, universities, publicly listed companies, and government agencies that use it, similarly spurred by a shortage of mental health workers. About Bamboo Technology Established in November 2018 , the Taipei -based Bamboo Technology is a mental health technology innovation company that focuses on improving public mental health with voice emotion analysis technology. It embraces a belief that a universal, objective, and scientific mental health system can effectively solve the problem of deteriorating mental health in today's society — a core tenet upheld by its many psychologists; social workers; and information management, AI and big data experts. View original content to download multimedia: https://www.prnewswire.com/news-releases/bamboo-technologys-herehear-virtual-ai-therapist-joins-berkeley-skydeck-ipp-program-302325187.html SOURCE BAMBOO TECHNOLOGY LTD.
Top war-crimes court issues arrest warrants for Netanyahu and others in Israel-Hamas fighting