For the first time in 2016, the US stocks closed at a high last Friday. It received a boost from a recovery in the oil sector recovering from multi year lows. Some of the stocks that closed at a high include the Dow Jones averaging 210 points above 16,000. Goldman Sachs and Apple are however credited with contributing the highest number of gains experienced on the closing date.
Apple for instance jumped over five percent after a recommendation was made that people purchase the stock before the earnings report are released in the coming week. The report also suggested that the stock price could jump by around 50 percent by the time the new iPhone gets launched later in the year.
The price of oil settled at around 32.19 dollars up for each barrel which meant that it increased by 9 percent. Joe Sewin, head of global equity at Highland Capital Management
attributed the rise to “short covering”.
, popularly known as “Jim” is the founder and president of Highland Capital Management firm one of largest lenders in the world. Jim, who currently resides in Texas has experience spanning over thirty years in the equity and credit markets and has mainly focused on high yield, distressed investing.
Highland Capital Management was started in the year 1993
and has been a pioneer in the development of CLO (Collateralized loan Obligation) market. It has also contributed to the development of credit oriented solutions for retail and institution investors all over the world. Jim is the chair person
of Cornerstone Healthcare and CCS medical in addition to being involved with Nexbank
. He also serves as a board member in several organizations such as the American Banknote as well as the MGM studios.
Jim is highly involved in philanthropic work
and supports activities involving veterans, education and all matters to do with public policy. Before founding HCM, Mr. Dondero worked as an analyst
for the Morga Guaranty training program, from the year 1984. Prior to that, he graduated from the University of Virginia with honors in Commerce. Jim has a double major in Finance and Accounting.
Read the original article here