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We were drawn to Sicily"s viral $1 homes. We ended up spending $30K for 2, but it was worth every penny.

Tam and Gary Holm went to Sicily, drawn in by the one-euro home promotion. They ended up spending about $30,000 on two, but said they don't regret it. Gary and Tam Holm being interviewed by Business Insider.Luke Renard; Business InsiderTam and Gary Holm were drawn to Sicily by the one-euro home promotion.Auctions for the homes started at one euro, but the couple ended up spending a lot more.They told BI they fell in love with Sicily, leading them to buy two properties.This as-told-to essay is based on an interview with Tam and Gary Holm, a Californian couple who bought homes in Sambuca di Sicilia, Italy.It's been edited for length and clarity, and timed to be released with a YouTube documentary.Tam: I remember reading an article online in 2019 about the one-euro homes when Gary worked in England, much closer to Sicily than our hometown, Los Angeles.I wrote to the email address provided in the article and got a response from the actual mayor of Sambuca di Sicilia. He said there were tours of the town and the houses they were selling for one euro ($1.08).Gary: She did the tour and saw the properties, but we definitely had some doubts, like, 'Are they really selling these houses for one euro?.'It turned out that the auctions started at a euro. We ended up bidding €5,000 for one and lost.But we knew this town was special. I instantly fell in love. So, instead, we opted for a private sale.We looked at maybe 10 or 15 houses, and the one we went with was special.Tam: If you were lucky enough to get one of the one-euro houses, they did most of the paperwork for you, but there were some stipulations. You had a time limit to renovate it, had to use certain contractors, and there was a lot of guidance.I'm glad we weren't stuck with that. However, it meant we had to figure it out all alone.Gary and Tam Holm walk with their child in Sambuca di Sicilia.Luke Renard; Business InsiderIt's not like the American real-estate market.Tam: We'd bought a couple of houses in America before, and it's a little bit different in Italy.Gary: The way they do real estate in Italy involves getting a notaio, or a notary, essentially a lawyer who draws up a legal contract with the owner.Tam: The ownership goes by lineage, which requires the people listed on the deed to be present with the new people wanting to buy the property.So, in our situation, a brother and a sister were listed. While the sister was here in Sambuca, the brother lived in America and hadn't been here for a decade.So, we had to figure out to get him to Sambuca to sign the paperwork so we could buy his house.Gary and Tam Holm enter their home in Sambuca di Sicilia.Luke Renard; Business InsiderGary: There was a convoluted way we could have gotten him to an embassy in Washington, DC, but it would have been a whole thing.Luckily, it turned out that he had wanted to visit his family, and the timing, thankfully, worked out. So we were able to all be here and sign at the same time.Tam: Meeting a guy who hadn't been home in 10 years was super fun. We all hopped in cars together to Palermo, the next biggest city, to meet with a bilingual notaio.Gary: The family has essentially adopted us now. They were selling their mother's home that they didn't live in; it hadn't been lived in for 20 years.Now, every time we go to Sambuca, we have dinner with them. They're part of our family here now.Unexpected costsTam Holm overseeing renovations.Luke Renard; Business InsiderTam: Our initial investment on the house was €19,000 ($20,581). We went in thinking we would just need to paint it nicely.Gary: But it needed plumbing, some electrical work, etc. Then, we realized that the place right next door had just gone up for sale.There is no land, and it's a house that shares three walls with other houses, so the only way to make the place bigger would be with one of the adjacent houses.Tam: So, of course, we had to buy it. Then, we had to find those owners, fly back out here, and once again drive to Palermo.Gary: That one cost us €8,000 ($8,666), so for the two we purchased, we spent €27,000 ($29,247).It's not a ton of money, but it's not a euro or two euros.Tam: Purchasing a property is a little different from American real estate because, instead of it being a percentage-based commission that the real-estate agent takes, they have a flat-rate fee for the notaio.We had to do that twice — a big expense we weren't expecting.Gary: Another big expense was that we thought we could just put a hole in the wall between the two houses.But it turned out that one had a lower floor than the other, so the engineering side cost a lot of money.Our whole costings were around $160,000 ($173,296).Falling in love with SicilyDrone footage of Sambuca di Sicilia.Luke Renard; Business InsiderGary: I think one of the things I fell in love with during all this was the people of Sambuca. Everyone has been super welcoming and friendly, and it's a small town that feels very international.Tam: There are also people who have lived here for generations and generations, who are so nice, cool, and ready to make friends with people from around the world.Gary: Everyone we have talked to in this town has had a great experience, so I think it tells you something about the people. They see the value in outsiders boosting the economy and tourism.I think that the one-euro program was brilliant, in my opinion, because it gave some people a chance to get houses for very little money, and it brought us here.You get to live this sort of dream; who doesn't want to have a house in Italy?Tam: Before coming to Sambuca for the program, I'd never been to Sicily, and we knew nothing about Sicily. Absolutely nothing.And it is so awesome. I'm kind of sad the secret is out.Read the original article on Business Insider.....»»

Category: topSource: BUSINESSINSIDER2 min. ago Related News

I"m a business owner and 6-figure earner. Here"s how my stay-at-home husband and I handle the kids and "chore wars."

This wife and six-figure business owner works while her husband is a stay-at-home parent. She shared how they split the chores. Andrea Mac says she makes 100% of her family's income and does 10% of the household chores consistently.Courtesy of Andrea MacAndrea Mac, a growth strategist, shares her experience as her family's sole financial provider.Her husband left his job to become the full-time caregiver for their four children.Mac sometimes grapples with the value she brings to her family beyond money.This as-told-to essay is based on a conversation with Andrea Mac, a growth strategist at Prequal from the Greater Chicago area. It's been edited for length and clarity.My husband handles 90% of our home life while I earn 100% of our family's income: I'm the family's breadwinner. While this is the right dynamic for us, my doubts creep in when things get imbalanced, and the parent/provider pendulum swings too far to either side.For the last seven years, my husband has been a stay-at-home dad for our four children — ages 19, 14, 7, and 5. He used to have a full-time job as an electrical project engineer but left it when our third child was born, and my maternity leave was ending. Since then, I've been able to build a business that made just under $550,000 in 2023.We're both incredibly hardworking, and motivated and committed to providing for our family's needs. But we both feel the effects of our individual focus. Even though I work outside the home, I still feel it's important for me to take on some parenting and household responsibilities.When it comes to "chore wars" between male and female spouses, I believe strongly in domestic equity — both partners should be viewed as contributors to a household with shared decision-making and an equitable division of responsibilities. Here's how my husband and I split the chores.Our family might be considered unique when it comes to household labor and work outside the homeMy husband is responsible for almost all childcare-related responsibilities, tasks, curveballs, medical issues, school communications, homework help, lunches, carpooling, and coaching.He also handles the following:Morning routines and getting everyone up and out the door.Cooking three meals a day for our entire family.Folding and putting away all laundry.All outdoor and home maintenance, including lawn, garden, landscaping, repairs, and major projects.All auto needs.All bill paying, account management, renewals, service inquiries, etc.Taking the lead on regularly tidying up.Lining up babysitters for date nights.Some additional things he's 100% responsible for that might be atypical for men but perhaps not atypical for a stay-at-home mom include:Scheduling playdates.Purchasing gifts for holidays and children's birthday parties.Scheduling medical and dental visits and taking kids to doctor appointments.Volunteering in the classroom — he just signed up to be a summer camp leader for the kids.Registering the kids for all sports, camps, and extracurricular and religious programs.Scheduling and attending weekend events and family outings.I also help with daily tasksOur approach has primarily been shaped by ongoing, open communication about our family's needs and our individual capacities. This continuous dialogue helped us gradually find a balance that works for us. Our division of chores evolved over time, but my usual housework includes the following:Meal planning and grocery shopping.Taking the lead on deep cleaning and organizingDoing the laundryPlanning vacationsThe 10% of household chores I consistently handle also include daily tasks like loading the dishwasher, clearing the dinner table, and assisting with bedtime routines when I'm home. With four kids and their varying schedules, I also step in whenever we face overlapping commitments and need to be in two places at once.When my job is busier, it amplifies the impact and tradeoffs in our family dynamicsI traveled to 13 different states in October 2023. I worked 13 to 15-hour days, sacrificing weekends and sleep. It was one of the most demanding seasons of my career, and my entire family felt the demands of my relentless Q3 and Q4 travel schedule.This grueling period tested my resilience and our family dynamics, particularly as my husband stepped up to manage our home life solo. For days and weeks at a time, my husband worked as a single parent. When I did return home and attempted to jump on the moving train of my family life, it wasn't easy.My presence disrupted the "new norm" created in my absence. It showed up in moments like when I was joining the walk to school with our 2nd grader, who experiences moments of separation anxiety. She would refuse to go into the school building on the days that I came along — especially the first day after I returned home from work travel. It was a stressful start to the day, and the other kids would then be late to their schools. It changed the routine and created an unintended outcome.My re-entry can be a smooth addition or a brief disruption. It usually takes a few days for us all to adjust and find our rhythm again. Essentially, I'm adapting to the family's steady pace each time I come back. This new dynamic brought up a lot of internal struggles for me, causing me to evaluate my intrinsic value to this family.I wondered, "Am I just a paycheck?"While being a provider is critical to everyone's needs, I have to sacrifice the parenting aspects with added pressure to succeed on the provider front. I started to wonder if I was just a paycheck.It can be tough to be the "second choice" parent — whether that's one of my older kids confiding in my husband with a problem or my little kids wanting my husband to do the bedtime routine.When things like this happen, I have to step back and evaluate whether we're doing it right or wrong. But I believe we're absolutely doing what is 100% right for our family at this time and for the last eight years. I've never considered changing our situation — rather, I find myself examining how to "do more" or pursue and prioritize more balance in my days and weeks.Read the original article on Business Insider.....»»

Category: topSource: BUSINESSINSIDER2 min. ago Related News

I left California for Las Vegas. Even after a $39,000 pay cut, my house is bigger, my 401(k) contributions went up, and the quality of my life improved.

A program manager at a startup making $184K moved from California to Las Vegas. She quit and took a $39K pay cut for a remote job rather than RTO. Alli Peck moved to Las Vegas and took a pay cut of $39,000.Alli PeckAlli Peck made $184,000 as a program manager at an engineering startup.In 2021, she and her husband moved to Las Vegas, subsequently quitting her job and taking a 20% pay cut.Peck says the move and the pay cut were worth it and she loves her life in Vegas.This as-told-to essay is based on a conversation with 35-year-old Alli Peck, a mechanical engineer and program manager. Her salary and employment history have been verified by Business Insider. The following has been edited for length and clarity.I worked in the corporate world for 10 years as a mechanical engineer and program manager.It was a rough start. My first job was at a startup that designs and develops medical devices, and I made a huge mistake in my first salary negotiation. I had two job offers, and the startup asked how much the other offer was. I said $68,000, and they offered to pay me $68,500.They probably would've paid me a lot more if I hadn't told them a number. Given that I have a bachelor's and master's degree in biomedical engineering, that was way too low of a starting salary, I later found out.But I was three months out of school and needed a job really badly.Learning this lesson was hard: Don't ever say the first number when you're negotiating — ask for a range or a budget they're working with. If they push you for a number, say, "I'm interviewing at companies that are offering X amount," and give an amount that's about 15% more than what you're currently getting paid.I had to keep negotiating at every job to catch upMy next job was for another medical device company in the Bay Area. This time, I negotiated and was offered $85,000.I had disadvantaged myself by starting out at $68,500; it's hard to negotiate a 25% raise going from job to job, but that's essentially what I had to do to catch up to my counterparts who, five years in, were making $120,000.A year later, I landed a job at a company I'd applied to three times before. I made $93,000 as an engineer, and after four years and a role change to project manager, I'd worked my way up to $140,000.I also received stock as part of my compensation package and annual bonus. The value of the stock rose steadily and it was a huge booster for me financially. In 2019, at the age of 30, I was able to take $105,000 in stock and use that as part of a down payment on a house on the beach.After the pandemic hit, I started working for another startup that said I could be fully remote. I negotiated a huge pay bump and started making $167,500, which increased to $184,000 after I got a 10% raise.We moved to Vegas on a whimIn 2021, a few months after starting that job, my husband and I were at dinner with a friend at a Las Vegas casino and met a couple who mentioned they were selling their house in Vegas.They showed us photos and I fell in love. My husband and I hadn't even been talking about moving, but I got the couple's phone number, and the next day, we made an offer on that house and put our house in California up for sale.By October 2021, we had sold our home in California and started our new life in Vegas.Expected to come back to the San Francisco officeIn January 2022, the startup said they wanted everyone to come back into the office in San Francisco.We agreed I would work Wednesdays, Thursdays, and Fridays in the office, so for a while, I was flying between Vegas and San Francisco every week. It was around four hours door-to-door, each way.My husband and I even bought an RV and tried living in an RV park in San Francisco for two months. But it was too expensive and wasn't sustainable.Alli Peck with her RV.Alli PeckMy husband and I had a really serious talk and decided it was time for me to start looking for a new job.Despite the pay cut, still a smart decisionI found a remote job at a large company based near Seattle and sent a message to a recruiter. Within two weeks, I had an offer.They offered me $145,000, a 20% pay cut from the $184,000 I was making at the startup. The change was shocking. After all, who takes a 20% pay cut?But my husband and I did the math.Money is a regular topic of conversation for us. I didn't grow up very financially literate, but my husband has taught me a lot about money; we go on walks with our dog every day, and we talk about finance, our investments, our debt, where the biggest interest rate is, and what our priorities are.We decided that taking the job would be a smart decision for us for a few reasons.For example, there's no state income tax in Nevada, so my take-home pay was almost exactly the same. I was making around $9,000 a month after taxes at both companies, give or take a few hundred dollars. I also negotiated a $25,000 starting bonus for myself.In the Bay Area, I was working about 65 hours a week, not atypical for a startup. Meanwhile, at the remote job, I would only be working 40 hours a week.The property tax in Vegas is half that of the Bay Area. I was paying $5,300 a year in property tax on my house in California. Now, I own a house triple the size of my California house and I'm paying only $4,200 a year in property tax.The cost of living is also so much lower. My husband and I go to Trader Joe's in Las Vegas twice a week and spend $80 twice a week, or $640 monthly. In the Bay Area, we were spending over $1,000 a month on groceries.Because of this lower cost of living, I was able to contribute almost $2,000 to my 401(k) retirement plan every month and save more for the future, rather than live paycheck to paycheck as we had in California with two car payments, our mortgage, utilities, HOA payment, student loan payments, credit card payments, and food and gas.I love everything Vegas has to offerWe love Vegas. Back in the Bay Area, I had a two-hour daily commute. Now that I have two hours back in my day, I go to yoga in the morning and have time to cook for myself at home, which helps me save even more money.I lived in a 1,000-square-foot townhouse before, and my husband and I could hear each other's work calls in different rooms. Now my house is 3,500 square feet, and I love that I can have space in my house to do content creation and podcasting. I also have a huge pool and amazing neighbors.And there's a lot to do here — some of the best entertainment in the world, some of the best sports in the world. It's still close enough to California where I can visit my parents when I want. And I like the weather, the dry climate, and the fact that it's sunny every day.I miss the ocean, but the move was worth itOur house used to be a five-minute walk to the beach, and every morning I would wake up and walk to the beach. Whatever issues I was facing and whatever stress I felt, looking at the ocean and how big it is just helped me put my problems in perspective. I miss that.Still, the move was totally worth it, thanks to the friends we've made here and the businesses we've started. We were able to start a real estate investment portfolio with multiple rental properties because of the money we saved with the lower cost of living.Salary is a very small piece of the puzzle. You really need to look at your expenses, your take-home pay, and your financial goals. If you are saving for something huge like surgery, a house, a car, or a vacation, maybe a pay cut wouldn't be a smart idea.But if you're like me and you're transitioning to a place with lower expenses and lower taxes, it can make sense. It's important to look at the whole picture.If you took a pay cut after being laid off or fired and would like to share your story, email Jane Zhang at janezhang@businessinsider.com.Read the original article on Business Insider.....»»

Category: topSource: BUSINESSINSIDER2 min. ago Related News

A 71-year-old explains all the ways she"s countering loneliness. They include tacos and a cellphone.

After Susan Skinner's husband died, she turned to "Taco Tuesdays" and began calling up people on her phone's contact list to maintain relationships. Susan Skinner has found methods to help avoid loneliness as she gets older.Susan SkinnerAfter Susan Skinner's husband died, she worried she would get lonely.The 71-year-old decided to prioritize social connections through weekly "Taco Tuesdays."She's also found success calling people on her contact list with whom she hasn't spoken in a while.When Susan Skinner, 71, went to a recent doctor's appointment, she was surprised that the doctor asked her about her social activities."She's never asked a question like that before," Skinner told Business Insider.The appointment happened about a year after her husband died, and Skinner said the doctor likely wanted to be sure she wasn't isolating herself in the grieving process. While Skinner said she wasn't in isolation, she was happy — thinking back on it — that her doctor asked that question."I just was surprised by that psychological approach to a medical appointment," Skinner said, "but pleased for her concern about my mental health in regards to loneliness."Skinner, 71, has adopted "Taco Tuesdays" as one avenue to maintain social connections.Susan SkinnerLoneliness impacts people of all ages, which US Surgeon General Vivek Murthy emphasized when he declared loneliness an epidemic in May. However, older adults often do not have the same avenues younger generations have when it comes to facilitating connections, especially with over half of them living on incomes of $30,000 or less a year. That requires them to be more proactive and search for opportunities in their communities that could help them meet new people.Skinner said she recognizes how hard it can be to maintain friendships as she ages and wants to be sure she doesn't succumb to the epidemic."I just became more aware that I need that contact, and I want to keep active," she said. "And so I'm trying to learn to do new things because doing new things continues the brain growth. And the same way with reaching out and establishing friends. When you have better social connections, it just helps your brain stay wired in positive ways."The importance of trying new thingsSkinner has lived in the same Nebraska area since 1976, allowing her to build relationships that have lasted decades. But she said the "big switch" for her after her husband died was living alone, and she no longer had a consistent daily interaction that she could rely on — so she created opportunities to ensure she was seeing people at least once a week."Taco Tuesdays" is one method Skinner has adopted. She said a local restaurant offers a deal for tacos every Tuesday for three or four dollars, and she said it's a great opportunity for those "on really limited incomes" to meet up for a meal and chat. Skinner said she uses Facebook to reach out to people in the area as each Tuesday comes around, and it's allowed her to maintain her connections with friends over a cheap meal.Another method Skinner has taken on is quite simple — she scrolls through her phone's contact list, finds people she hasn't spoken to in a while, and calls them up."There was one day when I was particularly struggling, and I was I was feeling isolated and lonely and kind of like, 'Oh crumb, nobody likes me,' and I opened up my contacts on my phone, and I just started going through and I'm like, 'Oh, I've not talked to this person in a long time," Skinner said. "So I just called them."As Skinner works to build connections, she's also doing all she can to make the most out of the time she has each day. She works as a substitute teacher and does some writing for her local newspaper, and she's also been making an effort to learn new skills. For example, she said she's been going to her local senior center to learn how to play the card game "10-point pitch," and she's been teaching herself how to make low-carb meals to help with her health.BI has previously reported on the impact the loneliness epidemic has had on older adults, along with how some of them have found ways to avoid isolation. Preeti Malani, a professor of medicine at the University of Michigan, told BI that "your immunology changes when you experience joy and togetherness.""Purpose is a big part of health, and when you look at people who've suffered a lot of losses, and you're like, 'I don't know how you are able to get out of bed every day,' a lot of times it's purpose," Malani said. "It's the idea that what I'm doing is really important to others."Skinner agreed — she said that "as I understand the research, the more you withdraw, it can shorten your life and make it harder to round from illnesses. " Now, her focus is on growing the friendships she's made into deeper relationships, which she said "takes quite a bit of time.""I can't remember the research on how many hours together it takes to make someone a close friend, but it's a lot," she said. "So it's just a matter of having someone where you could think, 'Would this be someone I could call up and say that I'm just having a really bad day, I need to talk, or just tell me what's going on with you,' something like that."Read the original article on Business Insider.....»»

Category: topSource: BUSINESSINSIDER2 min. ago Related News

Ask Marcia: Can toxic leadership kill a company?

Send your leadership questions to Marcia Daszko at md@mdaszko.com. Q: Our company had great leaders, teamwork, products and service for our customers. Last year the board brought in a CEO who is a jerk and only cares about numbers (his bonus) and not people. Even vice presidents and managers are afraid to speak up or leave. Will we survive? A: In the short term, you'll probably survive. For how long? The realistic answer is "it depends," and here's why.  We've seen founders with brilliant ideas….....»»

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In Her Own Words: Jasmine Silver networked in the preschool parking lot

Transitioning into the job market after maternity leave or a decision to stay home full-time can be difficult, to say the least. Jasmine Silver was commiserating with another woman in the same predicament when they dropped their kids off for pre-school. And that’s how FoundHer, a placement firm for women like them, was created. I never expected my path to entrepreneurship would start during preschool events for my toddler sons. But it was during those early years in motherhood that I experienced….....»»

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Is $1 billion enough to keep clean energy factories in Mass.?

Gov. Maura Healey and other state officials talked to the Business Journal about their plan to ensure new climate technologies are not just invented in the Bay State, but manufactured here as well......»»

Category: topSource: BIZJOURNALS2 min. ago Related News

Siena: Majority of upstate CEOs think conditions have worsened in N.Y.

More than half of the CEOs interviewed by Siena College Research Institute last year said that economic conditions had worsened in the preceding year. This year, the number is even higher......»»

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Small plane with several aboard crashes in Nashville and all were killed

Small plane with several aboard crashes in Nashville and all were killed.....»»

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Ukraine claims it has sunk another Russian warship in the Black Sea using high-tech sea drones

Ukraine claims it has sunk another Russian warship in the Black Sea using high-tech sea drones.....»»

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Wilmette 5-bedroom home with front veranda, rear deck: $1.3M

The kitchen features a quartz island with seating and a custom backsplash. Address:  816 4th St., Wilmette Price: $1,344,900 Listed: Feb. 19, 2024 This five-bedroom home has three full bathrooms, one half bathroom, hardwood floors, a front veranda and a custom-built rear deck. The kitchen features a quartz island with seating and a custom backsplash. The living room has a gas/wood burning fireplace, and the finished basement has a recreational room, playroom, and an updated full bath/laundry room. The primary bedroom suite includes a walk-in closet and a bathroom. Agent: Steve Genyk, Dream Town Real Estate, 773-875-9492 Wilmette 5-bedroom home with front veranda, rear deck: Living space(Realvision) Wilmette 5-bedroom home with front veranda, rear deck: Living space(Realvision) Wilmette 5-bedroom home with front veranda, rear deck: Living space(Realvision) Wilmette 5-bedroom home with front veranda, rear deck: Kitchen(Realvision) Wilmette 5-bedroom home with front veranda, rear deck: Kitchen(Realvision) Wilmette 5-bedroom home with front veranda, rear deck: Dining area(Realvision) Wilmette 5-bedroom home with front veranda, rear deck: Bedroom(Realvision) Wilmette 5-bedroom home with front veranda, rear deck: Bedroom(Realvision) Wilmette 5-bedroom home with front veranda, rear deck: Bedroom(Realvision) Wilmette 5-bedroom home with front veranda, rear deck: Recreational room(Realvision) Wilmette 5-bedroom home with front veranda, rear deck: Deck(Realvision) Wilmette 5-bedroom home with front veranda, rear deck: Veranda(Realvision) Some listing photos are “virtually staged,” meaning they have been digitally altered to represent different furnishing or decorating options. To feature your luxury listing of $1,000,000 or more in Chicago Tribune’s Dream Homes, send listing information and high-res photos to ctc-realestate@chicagotribune.com......»»

Category: topSource: CHICAGOTRIBUNE18 min. ago Related News

Here’s Why BioNTech SE (BNTX) Declined 12.2% in Q4

Baron Funds, an investment management firm, released its “Focused Growth Fund” fourth quarter 2023 investor letter, a copy of which can be downloaded here. The fund had a strong fourth quarter and increased by 9.74% (Institutional Shares) underperforming the Russell 2500 Growth Index’s (the Benchmark) 12.59% return. Spare some time to check the fund’s top 5 […] Baron Funds, an investment management firm, released its “Focused Growth Fund” fourth quarter 2023 investor letter, a copy of which can be downloaded here. The fund had a strong fourth quarter and increased by 9.74% (Institutional Shares) underperforming the Russell 2500 Growth Index’s (the Benchmark) 12.59% return. Spare some time to check the fund’s top 5 holdings to know more about their top bets for 2023. Baron Focused Growth Fund featured stocks like BioNTech SE (NASDAQ:BNTX) in the Q4 2023 investor letter. Headquartered in Mainz, Germany, BioNTech SE (NASDAQ:BNTX) is a biotechnology company. On March 4, 2024, BioNTech SE (NASDAQ:BNTX) stock closed at $89.30 per share. One-month return of BioNTech SE (NASDAQ:BNTX) was -6.98%, and its shares lost 30.79% of their value over the last 52 weeks. BioNTech SE (NASDAQ:BNTX) has a market capitalization of $21.618 billion. Baron Focused Growth Fund stated the following regarding BioNTech SE (NASDAQ:BNTX) in its fourth quarter 2023 investor letter: “BioNTech SE (NASDAQ:BNTX) declined 12.2% in the fourth quarter and hurt performance by 20 bps. The company, a leader in the mRNA drug industry, was hurt in the quarter by lower uptake of its mRNA COVID vaccine as fewer people took the new vaccine. This has resulted in lower revenue and cash flow this year, but the company’s strong pipeline of new oncology and infectious disease drugs over the next couple of years remains promising. The company is profitable and is generating strong cash flow. At current valuations, 70% of the company’s equity value is cash. Accordingly, we believe investors are getting its pipeline for free at current price levels.” A microbiologist observing a petri dish of bacteria under a microscope. BioNTech SE (NASDAQ:BNTX) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, BioNTech SE (NASDAQ:BNTX) was held by 14 hedge fund portfolios, down from 19 in the previous quarter, according to our database. We discussed BioNTech SE (NASDAQ:BNTX) in another article and shared the list of stocks Jim Cramer is recommending. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors. Suggested Articles: 12 Tech Stocks To Sell Right Now According To Cathie Wood 16 Failed Products in the Last 5 Years 14 Best Real Estate and Realty Stocks To Buy According to Analysts Disclosure: None. This article is originally published at Insider Monkey......»»

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Marriott Vacations Worldwide Corporation (VAC) Fell on Soft Sales

Baron Funds, an investment management firm, released its “Focused Growth Fund” fourth quarter 2023 investor letter, a copy of which can be downloaded here. The fund had a strong fourth quarter and increased by 9.74% (Institutional Shares) underperforming the Russell 2500 Growth Index’s (the Benchmark) 12.59% return. Spare some time to check the fund’s top 5 […] Baron Funds, an investment management firm, released its “Focused Growth Fund” fourth quarter 2023 investor letter, a copy of which can be downloaded here. The fund had a strong fourth quarter and increased by 9.74% (Institutional Shares) underperforming the Russell 2500 Growth Index’s (the Benchmark) 12.59% return. Spare some time to check the fund’s top 5 holdings to know more about their top bets for 2023. Baron Focused Growth Fund featured stocks like Marriott Vacations Worldwide Corporation (NYSE:VAC) in the fourth quarter 2023 investor letter. Headquartered in Orlando, Florida, Marriott Vacations Worldwide Corporation (NYSE:VAC) is a vacation company. On March 4, 2024, Marriott Vacations Worldwide Corporation (NYSE:VAC) stock closed at $91.78 per share. One-month return of Marriott Vacations Worldwide Corporation (NYSE:VAC) was 10.10%, and its shares lost 40.14% of their value over the last 52 weeks. Marriott Vacations Worldwide Corporation (NYSE:VAC) has a market capitalization of $3.305 billion. Baron Focused Growth Fund stated the following regarding Marriott Vacations Worldwide Corporation (NYSE:VAC) in its fourth quarter 2023 investor letter: “Shares of timeshare company Marriott Vacations Worldwide Corporation (NYSE:VAC) fell in the quarter, driven by soft sales of timeshare units due to higher interest rates and the slow ramp of a new product offering. A default rate that was higher than the company had anticipated forced it to take a charge to increase its reserves, pressuring earnings and cash flow. We opted to exit our position due to the increased stress on its consumer base and a resulting increase in financial leverage, which we found inappropriate for a focused fund.” Aerial view of luxury beachfront vacation resorts that are owned by timeshare company. Marriott Vacations Worldwide Corporation (NYSE:VAC) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Marriott Vacations Worldwide Corporation (NYSE:VAC) was held by 26 hedge fund portfolios, up from 21 in the previous quarter, according to our database. We discussed Marriott Vacations Worldwide Corporation (NYSE:VAC) in another article and shared Baron Real Estate Fund’s views on the company. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors. Suggested Articles: 11 Best Small Cap Pharma Stocks to Invest In 11 Best Cruise Stocks To Buy Now 20 Largest Banks in The World by Market Cap Disclosure: None. This article is originally published at Insider Monkey......»»

Category: topSource: INSIDERMONKEY1 hr. 1 min. ago Related News

Do You Think CoStar Group (CSGP) Will Generate Strong Returns Over Time?

Baron Funds, an investment management firm, released its “Focused Growth Fund” fourth quarter 2023 investor letter, a copy of which can be downloaded here. The fund had a strong fourth quarter and increased by 9.74% (Institutional Shares) underperforming the Russell 2500 Growth Index’s (the Benchmark) 12.59% return. Spare some time to check the fund’s top 5 […] Baron Funds, an investment management firm, released its “Focused Growth Fund” fourth quarter 2023 investor letter, a copy of which can be downloaded here. The fund had a strong fourth quarter and increased by 9.74% (Institutional Shares) underperforming the Russell 2500 Growth Index’s (the Benchmark) 12.59% return. Spare some time to check the fund’s top 5 holdings to know more about their top bets for 2023. Baron Focused Growth Fund featured stocks like CoStar Group, Inc. (NASDAQ:CSGP) in the fourth quarter 2023 investor letter. Headquartered in Washington, the District of Columbia, CoStar Group, Inc. (NASDAQ:CSGP) provides information, analytics, and online marketplace services to commercial and residential property markets. On March 4, 2024, CoStar Group, Inc. (NASDAQ:CSGP) stock closed at $88.59 per share. One-month return of CoStar Group, Inc. (NASDAQ:CSGP) was 5.62%, and its shares gained 25.41% of their value over the last 52 weeks. CoStar Group, Inc. (NASDAQ:CSGP) has a market capitalization of $36.181 billion. Baron Focused Growth Fund stated the following regarding CoStar Group, Inc. (NASDAQ:CSGP) in its fourth quarter 2023 investor letter: “Core Growth investments, steady growers that continually invest in their businesses for growth and return excess free-cash-flow to shareholders, represented 22.5% of net assets. An example would be CoStar Group, Inc. (NASDAQ:CSGP), a marketing and data analytics provider to the real estate industry. The company continues to add new services in commercial and residential real estate, which have grown its addressable market and enhanced services for its clients. This has improved client retention and cash flow. CoStar continues to invest its cash flow in its business to accelerate growth, which we believe should generate strong returns over time.” A quantitative analyst studying the data in a virtual simulation of the real estate markets. CoStar Group, Inc. (NASDAQ:CSGP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, CoStar Group, Inc. (NASDAQ:CSGP) was held by 36 hedge fund portfolios, compared to 36 in the previous quarter, according to our database. We discussed CoStar Group, Inc. (NASDAQ:CSGP) in another article and shared the list of best real estate stocks to buy. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors. Suggested Articles: 11 Best Small Cap Pharma Stocks to Invest In 20 Countries with Most Brilliant Students in the World 11 Best Consumer Electronics Stocks To Buy Disclosure: None. This article is originally published at Insider Monkey......»»

Category: topSource: INSIDERMONKEY1 hr. 1 min. ago Related News

Baron Global Advantage Fund’s Q4 2023 Investor Letter

Baron Funds, an investment management firm, released its “Baron Global Advantage Fund” fourth quarter 2023 investor letter. The fund was up 14.8% (institutional shares) in the fourth quarter compared to an 11.0% gain for the MSCI ACWI Index (the Index) and a 12.7% gain for the MSCI ACWI Growth Index, the Fund’s benchmarks. The fund […] Baron Funds, an investment management firm, released its “Baron Global Advantage Fund” fourth quarter 2023 investor letter. The fund was up 14.8% (institutional shares) in the fourth quarter compared to an 11.0% gain for the MSCI ACWI Index (the Index) and a 12.7% gain for the MSCI ACWI Growth Index, the Fund’s benchmarks. The fund appreciated 25.6% for the full year compared to 22.2% and 33.2% for the benchmarks, respectively. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023. A copy of Baron Global Advantage Fund’s Q4 2023 investor letter can be downloaded here......»»

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Apple has lost its crown as China"s best-selling smartphone maker: report

The US tech giant has lost its top spot as China's bestselling smartphone to Vivo, a Chinese tech multinational, per Counterpoint Research. Apple iPhone 15 family of devicesAppleApple is no longer the top-selling smartphone maker in China, per Counterpoint Research.In 2023, the iPhone became the best-selling smartphone in China for the first time.Now, Apple lags behind Vivo, Huawei, and Honor.Apple's iPhone sales in China fell by 24% in the first six weeks of 2024, according to a new report released by market research firm Counterpoint Research.The drop in sales means the iPhone has lost its position as the best-selling smartphone in China, a status it attained for the first time in 2023.In 2023, Apple held 19% of the market share in China. That's now down to 15.7%, per Counterpoint.Vivo, a Chinese tech multinational, is now the top-selling smartphone maker in China, per Counterpoint Research. The data was released as part of Counterpoint's China Smartphone Weekly Sell-through Tracker. Bloomberg first reported the news.Vivo is followed by Huawei, Honor, and Apple in fourth. Honor split from Huawei in 2020."Primarily, it faced stiff competition at the high end from a resurgent Huawei while getting squeezed in the middle on aggressive pricing from the likes of OPPO, Vivo, and Xiaomi," Mengmeng Zhang, a senior analyst at Counterpoint, said of the iPhone.Smartphone sales in China at large are down 7% year over year, Counterpoint reported.Apple's sales decline in China is the latest of its woes in the region.In January, Chinese chipmakers drew up plans to create chip production lines to supply processors to local smartphone makers. The move stands to hurt Apple, which has so far benefited from tight export restrictions. The American manufacturer may also be suffering from a slowdown in general consumption and a shift towards supporting homegrown companies in China.Apple did not immediately respond to a request for comment from Business Insider sent outside regular business hours.March 5, 4:28 p.m. SGT: An earlier version of this story misstated the scale of Apple's sales decline in China. Sales are down 24% in the first six weeks of 2024, not year over year.Read the original article on Business Insider.....»»

Category: topSource: BUSINESSINSIDER1 hr. 31 min. ago Related News

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Category: topSource: BUSINESSINSIDER1 hr. 31 min. ago Related News

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China is laying out ambitious growth goals for 2024, and even Beijing knows they"ll be hard to hit

China — the world's second-largest economy — is targeting GDP growth of around 5% in 2024. The country's GDP grew 5.2% in 2023. China's President Xi Jinping and Premier Li Qiang arrive for the opening session of the National People's Congress (NPC) at the Great Hall of the People in Beijing on March 5, 2024.Pedro Pardo/AFP/Getty ImagesChina's premier, Li Qiang, announced a 5% economic growth target for 2024.The ambitious goal faces headwinds like a property crisis, deflationary pressure, and a demographic crisis.Economists suggest Beijing may need to inject more stimulus into its economy to reach the target.China is laying out ambitious growth goals for 2024, and Beijing knows they'll be hard to hit.China — the world's second-largest economy — is targeting economic growth of around 5% this year, Li Qiang, the country's premier, announced on Tuesday. In comparison, China's GDP grew 5.2% in 2023. This was after a brief growth spurt early in the year following the lifting of lockdowns.It's an ambitious target. The country is battling significant headwinds including a property crisis, deflationary pressure, and a demographic crisis.Li acknowledged there are challenges ahead for China while delivering his first work report at the annual meeting of the National People's Congress."Achieving this year's expected goals is not easy," said Li, who took office as premier in March 2023. "It requires focused policies, redoubled efforts, and concerted efforts from all parties."Economists, too, expect the going to be tough for China."Achieving the 'around 5%' growth target will be very challenging," Nomura economists wrote in a note on Tuesday.The economists said the key challenges China faces are a "still faltering property sector, the crackdown on local government debt accumulation in 12 high-risk provinces, the likely significant slowdown of investment in the new energy sector, and the lacklustre data so far available for January and February."ING also thinks the going will be "challenging" as consumption this year is unlikely to be as strong as it was last year due to weak consumer confidence, wrote Lynn Song, the Dutch bank's chief economist for Greater China."Trade is unlikely to be a major engine of growth as well, with global trade growth expected to remain below historical averages," particularly amid heightened trade protectionism, added Song.Economists are watching to see whether Beijing will inject more stimulus into its economy to help it hit its 5% growth target.Li announced 1 trillion yuan, or $139 billion, of "ultra-long" special central government bonds to stimulate the economy, but more can be done, wrote the Nomura economists. They suggested boosting central government and regional government spending.As Deutsche Bank's analysts wrote about China's efforts to drive its economy, "the market's big question will be whether they can back up their growth target with enough stimulus."China and Hong Kong markets don't appear encouraged by Li's announcement.Hong Kong's Hang Seng Index was down 2.7% at 3:49 p.m. local time on Tuesday. The Hang Seng China Enterprises Index was also 2.7% lower.China's blue-chip CSI300 Index edged up 0.7%.Read the original article on Business Insider.....»»

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