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The Daily Brief: Invest Like a Billionaire

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Go big on health care and short on energy stocks, according to the latest iBillionaire Index. Comprised of 30 U.S. large-cap equities, the index tracks the portfolios of billionaire investors who have made their money through financial markets and investing. In the Q3 Rebalancing report, Facebook makes its debut on the strength of investments by David Tepper, George Soros and Julian Robertson. Among those stocks that dropped out of the index were Cigna, AIG and Cognizant Technology Solutions. 

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The Ben Franklin Generation?

While for Generation X it was all about the benjamins, the Millennials are actually being called the "Ben Franklin Generation" for their more conservative investment tendencies. Due to astronomical student debt and a lackluster economic recovery, millennials are not as free-spending as some of their elders, instead opting to let the robos do the savings and investing work for them. Adam Hanft details the "millennial evolution" on The Huffington Post.

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Being Bullish

Goldman Sachs doesn’t buy into the theory that Fed tightening will lead to a major stock market correction. In a new report, Goldman analyst David J. Kostin anticipated a “benign equity market reaction” to the anticipated first interest rate hike in six years. His team expects the S&P 500 to continue rising and reach 2400 by 2018. 

Copyright Darren McCollester, Getty Images

Blame it on 'Social Norms'

The Wall Street culture encourages dishonest behavior, according to a new study by the University of Zurich that looked at bank employees. MarketWatch reported the study found people in aren’t inherently dishonest, but “the social norms in the banking sector tend to be more lenient towards dishonest behavior,” said professor and researcher Michel Maréchal.

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