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Jeff Bezos Takes Richest Man Alive Title From Bill Gates

(FinancialPress) — Bill Gates is no longer the richest man alive after the market shakeup brought about by 2017‘s wave of third quarter financial reports. However, he’s still having a pretty good day. Amazon‘s (AMZN) frontman extraordinaire, Jeff Bezos, has taken over the spot of distinction. Amazon‘s incredible earnings report, release last Thursday, had the stock surging a massive 13.5% on Friday. The report revealed over a quarter-billion dollars in profit in just three months. According to the most recent available data from FactSet, Bezos owns close to 80 million Amazon shares (last updated in August). Thus, the stock’s surge netted him a one-day profit of $10 billion. His net worth stands now well over $90 billion. Thursday closed with the Bloomberg Billionaires Index hav...

S&P 500 poised to set record for calmest period – perhaps ever

(FinancialPress) — The broad-market benchmark, Standard and Poor‘s 500 Index, has been very quiet as of late. The thing is, just how quiet, and for how long, has flown completely under the radar for most onlookers. The S&P 500 is set to match and surpass the record for longest period of quiescence in history in just a few more short days. With no significant drops of over 3% since November 2016, the current 237-day span holds the spot for the second-longest period with no single-session drop of such magnitude since the one that began way back in Jan. 26, 1995. That period, which is the current record holder, extended for an impressive 241 days and concluded in Jan. 9, 1996. The data was shared by Pension Partners’ Charles Bilello (chart below). By extending the streak of sessions closi...