• Why these 4 ASX 200 shares were just rerated by top brokers

    Four well-known S&P/ASX 200 Index (ASX: XJO) shares were just rerated by leading brokers.

    Three earned upgrades while one was downgraded.

    Here’s what’s happening.

    (Broker data courtesy of The Australian.)

    Three ASX 200 shares earning broker upgrades

    The first ASX 200 share getting an upgrade is The Lottery Corp Ltd (ASX: TLC), Australia’s biggest lottery company.

    The Lottery Corp share price is up 1.4% in morning trade today at $4.97. That sees the stock up 3.1% so far in 2024.

    And the betting company could stand to benefit from the upcoming tax returns most Aussie households will be receiving. While some people will use that to pay down debt, add to savings, or invest in ASX stocks, I imagine others will he happy to take a punt with some of their upcoming refunds.

    Citi sees some solid growth ahead, in either case. The broker raised the Lottery Corp to a ‘buy’ rating with a $5.60 price target. That represents a potential upside of just under 13% from current levels.

    Lottery Corp shares also trade on a fully franked trailing dividend yield of 2.9%.

    Which brings us to the second ASX 200 share getting a broker upgrade, speciality retailer Premier Investments Ltd (ASX: PMV).

    Premier also could be one to benefit from the upcoming tax refunds and other cost-of-living relief measures contained in the federal budget.

    The Premier share price is up 2.1% today at $29.44, which sees shares up 4.4% year to date. Premier shares also trade on a fully franked dividend yield of 4.2%.

    And CLSA forecasts another potential 9% share price gain from here. The broker raised Premier Investments to an ‘accumulate’ rating with a $32 price target.

    Rounding off the list of ASX 200 shares receiving upgrades is healthcare provider Ramsay Health Care Ltd (ASX: RHC).

    The Ramsay Health Care share price is up 4.0% today at $48.85, which sees shares down 8.2% year to date. The stock trades on a fully franked dividend yield of 1.4%.

    Ramsay Health Care is a company that could catch some strong tailwinds from the rapid advancement of artificial intelligence. AI is widely forecast to drive efficiencies and new treatments in healthcare over the medium to longer term.

    JP Morgan is getting more bullish on its outlook for this ASX 200 share. The broker raised its rating to ‘neutral’ with a $50 price target, a bit more than 2% above current levels.

    And one company getting downgraded

    Turning to the ASX 200 share getting downgraded, we have fashion jewellery retailer Lovisa Holdings Ltd (ASX: LOV).

    The Lovisa share price crashed 10.4% yesterday and is down 3.2% today, at $29.44 a share.

    Despite that big sell-down, the Lovisa share price remains up 20.6% in 2024. And Lovisa shares trade on a partly franked dividend yield of 2.8%.

    But investors and brokers alike have been rethinking the growth outlook for the company after it announced that CEO Victor Herrero will be exiting on 31 May next year.

    Motley Fool analyst James Mickleboro highlighted why Herrero’s pending departure is dimming Lovisa’s medium-term outlook:

    The outgoing CEO has been instrumental in Lovisa’s global expansion. And while a lot of the hard work has certainly been done since his arrival in 2021, there’s still a lot more to come. The market may be concerned that his exit now puts at risk the successful execution of this expansion.

    The ASX 200 share was downgraded by a number of brokers including Barrenjoey, Citi, Morgan Stanley and Canaccord.

    Canaccord has the lowest price target for Lovisa shares among the brokers, at $29.00. This implies that most of the pain from Herrero’s upcoming exit has now already been priced into the stock.

    The post Why these 4 ASX 200 shares were just rerated by top brokers appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Lovisa Holdings Limited right now?

    Before you buy Lovisa Holdings Limited shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Lovisa Holdings Limited wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 5 May 2024

    More reading

    Citigroup is an advertising partner of The Ascent, a Motley Fool company. JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. Motley Fool contributor Bernd Struben has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended JPMorgan Chase, Lottery, and Lovisa. The Motley Fool Australia has recommended Lovisa and Premier Investments. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Meta is testing out a feature that could make Instagram more like YouTube

    Instagram and YouTube app
    Instagram is testing out unskippable ads

    • Instagram is testing a feature that makes some ads unskippable.
    • YouTube has a similar strategy, which requires non-paying users to view ads before watching videos. 
    • Instagram's focus on new features like Reels may have helped it surpass TikTok in growth.

    Quickly scrolling past AI-generated ads on Instagram that you don't care to see could soon no longer be an option.

    With Reels, Instagram became more like TikTok. With Threads, Meta paired Instagram with a new X competitor. And now, the social media giant may be taking a page out of YouTube's book.

    Instagram is testing out a feature that stops some users from scrolling for a brief period of time to watch an ad, a Meta spokesperson confirmed in a statement to Business Insider.

    Only some users can see this feature, per posts on X and Reddit, but Meta said the feature could become a permanent addition to the app.

    "We're always testing formats that can drive value for advertisers. As we test and learn, we will provide updates should this test result in any formal product changes," the spokesperson told BI.

    YouTube employs a similar ad strategy, making users of its free version sit through advertisements before they can watch videos.

    Like TikTok, Instagram allows users to scroll past ads that appear in the main feed — or in between Stories — though that may now change.

    According to social media posts from users who have been served the new unskippable ads, when users scroll through content, they see a small counter at the bottom of their screen that says "ad break."

    "Sometimes you may need to view an ad before you can keep browsing," a text box explaining the feature on the Instagram app says, per a screenshot captured by Morning Brew.

    Business Insider was unable to see the ad break feature on Instagram.

    Over the past few years, Instagram has been experimenting with new features on its app, including Reels — which recommends videos in a TikTok-like fashion.

    The emphasis on short-form video content has resulted in the app deemphasizing traditional photo posts from mutual followers — a practice that has seen mixed reviews.

    Regardless, the changes could benefit the app: In 2023, Instagram beat out TikTok in growth and downloads.

    Read the original article on Business Insider
  • Could the CSL share price end 2024 above $300?

    woman testing substance in laboratory dish, csl share price

    The CSL Ltd (ASX: CSL) share price opened trading at $283.70 apiece on Tuesday, having largely tracked sideways for the last three months of business. Meanwhile, the broader S&P/ASX 200 Health Care Index (ASX: XHJ) has followed a similar path, up just 1.2% in that time.

    CSL shares have a history of delivering market-beating returns over the long term. But investors haven’t bid up the biotechnology giant’s stock in the past two to three years of trade. Now that we’re well past the “pandemic era,” what’s next?

    Let’s take a look to see if the CSL share price can break the $300 barrier by the end of 2024.

    Fundies like CSL share price

    ECP Asset Management is one fund manager that appears bullish on CSL. Speaking to The Australian Financial Review in April, portfolio manager Sam Byrnes said the $2.9 billion asset manager likes CSL’s prospects.

    “We are very positive on the outlook for CSL”, he said, noting the biotech is “now seeing volume growth alongside a decrease in the cost of plasma collections”.

    “Capex is set to reduce 30 % this year and its future growth will be less capital intensive with the introduction of more efficient plasma collection devices and a yield enhancement program”.

    These factors, Byrnes says, should increase CSL’s return on capital over the next five years. “We’d be happy with $500 [per share] in five years”, he concluded.

    CSL share price above $500?

    ECP’s Byrnes alludes to Macquarie’s $500 per share target for CSL over the next three years, as covered by my colleague Bernd.

    The mammoth valuation, set in April, was built on strong earnings growth in the Behring business. This is expected to drive around 90% of CSL’s profits in the next five years, it says.

    Macquarie has a price target of $330 per share on the CSL share price in the short term.

    Meanwhile, analysts at Morgans and UBS are both optimistic about CSL’s future.

    According to my colleague James, Morgans added CSL to its best ideas list. It cites potential double-digit earnings growth from increased plasma collections and new product approvals.

    Morgans has an “add” rating with a price target of $315.40, suggesting a potential upside of 11.17% from the current share price. UBS also retained its buy rating and a $330 price target. It too likes the growth in CSL’s plasma collections market.

    Not all roses

    Not everyone views CSL through rose-coloured glasses. Atlas Funds Management chief investment officer, Hugh Dive is one. The fund manager likes CSL — no debate — and has owned the stock for more than six years, according to The Australian Financial Review. But he is a little more cautious.

    Dives—who did not provide a price target—said that while growing earnings by 10% per year is “achievable in the short term,” it remains “extremely difficult over a long period of time.”

    He added that “the law of large compounding numbers” could make it difficult for CSL to grow earnings that fast—not “without some degree of high sustained inflation.”

    Foolish takeaway

    With analysts’ positive outlook and strategic advancements in plasma collection, CSL appears well-positioned to grow earnings in the next three years, in my opinion.

    The consensus among experts suggests that the CSL share price could indeed surpass $300 by the end of 2024, with significant long-term growth potential beyond that.

    Regardless of these views, it is essential to remember that investing comes with risks. So, make sure to consider your own personal financial circumstances as well.

    The post Could the CSL share price end 2024 above $300? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in CSL right now?

    Before you buy CSL shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and CSL wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 5 May 2024

    More reading

    Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL and Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group. The Motley Fool Australia has recommended CSL. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Life360 shares jump 7% on Nasdaq IPO launch

    Life360 Inc (ASX: 360) shares are jumping on Tuesday morning.

    At the time of writing, the location technology company’s shares are up 7% to $16.28.

    Why are Life360 shares jumping?

    Investors have been buying the company’s shares this morning in response to news that it has launched its Nasdaq initial public offering (IPO).

    According to the release, Life360 estimates that it will receive net proceeds from this offering of approximately US$84.4 million, assuming an initial public offering price of US$30.43 per share, and after deducting the estimated underwriting discount and estimated offering expenses,

    Management explained that the principal purposes of this offering are to increase its capitalisation and financial flexibility and create a public market for its common stock in the United States.

    It currently intends to use the net proceeds received from this offering for general corporate purposes, including working capital, operating expenses, and capital expenditures.

    It may also use a portion of the net proceeds for acquisitions or strategic investments in complementary businesses, products, services, or technologies. However, it does not currently have any agreements or commitments to enter into any such acquisitions or investments.

    Once complete, the company expects to trade on Wall Street under the Life360 Inc (NASDAQ: LIF) ticker code.

    Why would US investors buy into the company?

    Life360 shares have been a popular and successful option for ASX investors since their listing. This has been driven by its rapid sales and earnings growth.

    In respect to the former, Life360’s subscription growth has grown from US$86.6 million in 2021 to US$220.8 million in 2023. It is currently guiding to core subscription revenue growth of at least 20% in 2024.

    The good news is that management believes it still has a significant market opportunity to grow into in the future, which would be appealing to investors on Wall Street. It highlights:

    We are a market leader in family safety, connecting millions of people globally through software and hardware to the people, pets and things they care most about. We offer a range of services including location sharing, safe driver reports, and crash detection with emergency dispatch. The widespread proliferation and continued growth of connected devices has led to a normalization of location sharing for a wide range of consumer applications such as item tracking, communication, social coordination or travel.

    The Life360 Platform is currently available in 171 countries through the Apple App Store and 133 countries through the Google Play Store through both tiered and single subscription offerings. We believe that the opportunity for our core subscription offerings alone translates into a TAM of US$75 billion. Our core subscription offering consists of a bundle of services that competes with a variety of single point solutions.

    Is this listing good news for ASX investors?

    The team at Bell Potter has previously stated its belief that the Wall Street listing would be good news for Life360 shares. It explained:

    Key potential catalysts for the stock include another strong quarter of paying circle growth in Q2 (April was another good month), a potential upgrade to the 2024 guidance sometime in H2 and a US listing at some stage in the next 12 months.

    We have increased the multiple we apply in the EV/Revenue valuation from 5.5x to 6.5x given the proposed US listing and potential re-rating of the stock given the much higher multiples of comps like Reddit (NYSE: RDDT).

    Bell Potter currently has a buy rating and $17.75 price target on its shares.

    The post Life360 shares jump 7% on Nasdaq IPO launch appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Life360 right now?

    Before you buy Life360 shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Life360 wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 5 May 2024

    More reading

    Motley Fool contributor James Mickleboro has positions in Life360. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Life360. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • This ASX index is up 13% in 2024. Is there more up its sleeve?

    two computer geeks sit across from each other with their laptop computers touching as they look confused and confounded by what they are seeing on their screens.

    The ASX All Technology Index (ASX: XTX) has been a standout performer in 2024. Delivering an impressive 13.4% gain since the start of the year, the index’s success highlights the growing strength of Australia’s technology sector.

    The All Technology Index has been a stellar performer since its launch in February 2020, climbing 69.6% in that period. The index is designed to measure the performance of technology companies listed on the ASX. It includes a broad range of tech-related businesses, including software, hardware, and IT services. 

    Key players in the index

    The ASX All Technology Index includes a mix of well-established companies and promising newcomers. Some of the most notable companies within the index are:

    • Xero Ltd (ASX: XRO): Cloud-based accounting software company offering intuitive financial management tools
    • REA Group Ltd (ASX: REA): Operates popular property websites like realestate.com.au.
    • WiseTech Global Ltd (ASX: WTC): Provides software solutions to the logistics sector

    Factors driving the growth

    The COVID-19 pandemic significantly accelerated digital transformation across industries. Companies invested heavily in technology to support remote work, e-commerce, and digital customer engagement. This surge in demand for tech solutions boosted the performance of companies in the sector. 

    Increased demand has been reflected in strong earnings reports. Xero reported a 75% increase in earnings before interest, taxes, depreciation and amortisation (EBITDA) in FY24, which reached $527 million. REA reported a 24% increase in EBITDA for the 9 months ended 31 March 2024. Likewise, WiseTech Global reported a 23% increase in EBITDA in 1HFY24. 

    A supportive regulatory environment in Australia has fostered growth in the tech sector. Government support through grants, tax incentives, and innovation programs has played a crucial role in fostering a conducive environment for tech companies to scale operations. 

    Many ASX-listed tech companies, such as Xero and WiseTech Global, have successfully expanded their footprint beyond Australia, tapping into international markets. This global presence has provided them diverse revenue streams and reduced reliance on the domestic market, further strengthening financial performance.

    What is the outlook for the ASX All Technology Index? 

    As we move through 2024, the outlook for Australian tech stocks remains optimistic, though not without potential challenges. The continued emphasis on digital innovation and the growing importance of technology in everyday life are expected to sustain demand for tech solutions. Companies within the ASX All Technology Index are likely to benefit from ongoing trends such as the rise of artificial intelligence, cybersecurity, and cloud computing.

    Nonetheless, several factors could influence the tech sector’s performance. Economic conditions, including inflation and interest rates, will play a significant role in shaping the investment landscape. Higher interest rates could impact the valuation of tech stocks as investors reassess the risk-reward profile of growth-oriented companies. 

    Keeping a balanced perspective and focusing on long-term growth drivers will assist investors in navigating the Australian tech stock landscape and capitalise on opportunities ahead.

    The post This ASX index is up 13% in 2024. Is there more up its sleeve? appeared first on The Motley Fool Australia.

    Should you invest $1,000 in Rea Group right now?

    Before you buy Rea Group shares, consider this:

    Motley Fool investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Rea Group wasn’t one of them.

    The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

    And right now, Scott thinks there are 5 stocks that may be better buys…

    See The 5 Stocks
    *Returns as of 5 May 2024

    More reading

    Motley Fool contributor Katherine O’Brien has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended REA Group, WiseTech Global, and Xero. The Motley Fool Australia has positions in and has recommended WiseTech Global and Xero. The Motley Fool Australia has recommended REA Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

  • Sequoia partner Doug Leone once again supports Trump after previously renouncing him

    Doug Leone (left) and Donald Trump (right)
    Doug Leone (left) endorsed Donald Trump (right) on Monday, despite his previous rebuke of the former president after the January 6 attack on the Capitol.

    • Doug Leone wrote on X that he will support Donald Trump for president in this year's election.
    • Leone previously rebuked Trump, saying he'd incited the riot at the Capitol on January 6th, 2021.
    • Leone's endorsement adds him to a growing list of Silicon Valley elites supporting Trump.

    Billionaire venture capitalist Doug Leone, a partner at Sequoia Capital who managed the firm until 2022, reversed his previous critiques of Donald Trump on Monday and said he would support the former president and convicted felon's campaign.

    He joins a growing list of Silicon Valley elites backing Trump.

    "I have become increasingly concerned about the general direction of our country, the state of our broken immigration system, the ballooning deficit, and the foreign policy missteps, among other issues," Leone wrote in a post on X. "Therefore, I am supporting former President Trump in this coming election."

    https://platform.twitter.com/widgets.js

    After the January 6 attack on the Capitol, Leone had previously renounced his support for Trump, saying the former president's behavior during the riots caused him to lose "many of his supporters, including me," Leone said in a statement to Vox's Recode at the time.

    The re-endorsement adds Leone to a growing list of Silicon Valley elites who have said they will be backing Trump following his recent felony conviction in New York. Among them are Shaun Maguire, a partner at Sequoia, and billionaire venture capitalist David Sacks.

    Leone and representatives for the Trump campaign did not immediately respond to requests for comment from Business Insider.

    Read the original article on Business Insider
  • A med student wanted to simplify his life, so he spent $33,000 turning a van into a tiny house. Take a look inside.

    Ethan Liebross turned a van into a tiny home.
    Ethan Liebross turned a van into a tiny home.

    • Ethan Liebross, a first-year medical student, lives full-time in a DIY-converted van in California.
    • Liebross, 24, bought the van for $20,000 and spent $13,460 on the conversion.
    • He says he hopes that living minimally will help him become a better person and future doctor.

    Some medical students choose to stay in dorms, while others opt to live in apartments off campus.

    Ethan Liebross went for a less common housing option: He lives full-time in a van — a 2015 Ford Transit that he turned into a mobile, off-grid home.

    Ethan Liebross
    Liebross standing in his van.

    "The decision to live in a van by choice is very different from the one that a lot of people have to make because there are people who are really suffering," Liebross, 24, told Business Insider. "I wanted to live as simply and minimally as possible, as a practice to help me become a better individual and a better future doctor."

    Although he grew up on a farm in New Jersey, he's no stranger to van life.

    During his gap year, he had lived out of another van while working as a freelance writer for local newspapers.

    "At that time, I couldn't afford to stay in hotels for a whole year, and the practicality of couch surfing didn't really make sense," Liebross said. "So I decided to convert a little camper van — a Ford Transit Connect — and I traveled around the US."

    The exterior of the van on the road.
    Liebross drove across country to make it time for the school term.

    The experience was challenging but enjoyable, and it left such an impact on Liebross that he decided to do it again when he started medical school.

    "I thought if I liked it this much and I really enjoy the simple life, why not give it a try?" Liebross added.

    The hunt for a van

    But first, he needed a new vehicle — the Ford Transit Connect was too small to be a permanent home for the next four years.

    He couldn't stand up inside, and all he had was a cooler that needed ice changed every two days.

    "I was sleeping on the floor with no mattress or anything because the space didn't really allow it," Liebross said.

    The bare interiors of the van during the conversion process.
    The bare interiors of the van during the conversion process.

    It wasn't going to be sustainable, especially since he knew that medical school was going to be challenging, he added: "I wanted to make sure I was getting very high-quality sleep, and I knew I couldn't be running around trying to find ice all the time."

    After driving all over New Jersey to visit car dealerships with his dad, Liebross ended up getting a used 2015 Ford Transit off Facebook Marketplace for $20,000.

    After that, it was a race against time to complete the van conversion.

    A progress photo of the van conversion.
    A progress photo of the van conversion.

    "I only had three months before I needed to make it to California for school," Liebross said, adding that he had already spent a month looking for the van.

    Even though he had some experience, the scale of this conversion was larger and more complicated than his first van project.

    "The whole thing was just one big lesson in problem-solving," Liebross said. One day, he'd be trying to figure out the right inverter to buy, and the next day, he'd be researching how to cut down a butcher block countertop, he said.

    Liebross working on the van.
    Liebross working on the van.

    "I woke up at 5:30 a.m. most days, and I worked until 9 p.m. at night," he said. "And even when there were family events going on, I couldn't go because I was really tight on time."

    Even though things were tricky, he enjoyed the process. Thankfully, he also had some help from his dad.

    "We worked together on the weekends or when he came home from work," Liebross said. "It's such an awesome thing to get to work side by side with my dad, who's someone I really admire."

    A progress photo of the van during the conversion process.
    A progress photo of the van during the conversion process.

    A modern tiny home

    Liebross' van, which is equipped with solar panels, is simple and cozy with details reminiscent of a modern home.

    Behind the driver's seat is a kitchenette area complete with cabinets, a stainless sink, and a gas range. The sleeping area, with a memory foam mattress, is at the back of the van.

    The passenger seat also swivels around, and he finds it useful when he has friends over.

    However, there's no proper toilet in the van, he said: "There are a couple of gyms on campus, so I'll just bike over, work out at the gym, and then take a shower."

    An alternate view of the entrance to the van.
    The van.

    The hardest part of the build was figuring out the electrical system.

    "It was really complex, dealing with a lot of complex physics and mechanics, and it can also be pretty dangerous, so you have to be very careful," Liebross said.

    Liebross says he spent $13,460 on the van build. Including the cost of the van, he spent $33,460 in total.

    In contrast, university housing rent for a single tenant in the upcoming school year starts from $1,500 a month but can go up to almost $3,500, depending on the location and the size of the apartment. At those rates, the minimum cost for four years of housing could have added up to at least $72,000.

    The kitchen.
    The kitchen area.

    Full-time van life

    Liebross drove cross-country with his dad to California and moved into the van about a week before school started in early August.

    He's been living in the van ever since.

    "It's been pretty good, especially compared to that year I had off. That was roughing it out a lot more, especially in the colder months," Liebross said. "Luckily, I live in sunny California now, so it never got below freezing during winter."

    The interiors of the van.
    The interiors of the van.

    His parents have also been supportive of his decision to live in a van during college.

    "I guess the shock really came when I wanted to do it during my gap year," Liebross said. "I'd probably said it to them for months and months in passing — it didn't come out of the blue."

    Although his parents, and especially his mom, were worried about his safety, they trusted him to be careful.

    "I think overall, they knew that I was really smart about it. I really prioritized my own safety," he said. "And I think now they probably think it's cool and different. They've just been very supportive and I'm really lucky to have them in my life."

    Although LA can be scary due to its crime rates, Liebross says he feels safe living in the van because he takes extra precautions.

    "I try to be as safe as possible," Liebross said. "I try to be really aware of my surroundings and I don't really tell people where I park or my location."

    The sleeping area.
    The sleeping area.

    Liebross parks his van on the streets about 10 minutes from campus and usually cycles to class.

    "I don't move around a whole lot because if you leave your spot, you have to try to get a new one," he said. "Driving also isn't the most environmentally conscious, so I try to bike around as much as I can."

    A lesson in simplicity

    Looking back, Liebross says the entire experience has been gratifying.

    Not only did the process feel special because he got to work with his dad, but it was also nice to have the results of his hard work on display.

    "I'm really proud of the final outcome," Liebross said. "I really enjoy the challenge of living in a smaller space, biking to take a shower at the gym, and cooking healthy meals with limited resources. It makes you deeply appreciate the little things."

    He also hopes that living in a van will help him become more disciplined, creative, and compassionate.

    "I've come to the realization that if I really want to practice medicine selflessly and make a difference, I need to create a life for myself that doesn't require a lot of money or things," Liebross added.

    Have you recently built or renovated your dream home? If you've got a story to share, get in touch with me at agoh@businessinsider.com.

    Read the original article on Business Insider
  • The 3rd human case of bird flu in the US has 2 new and troubling symptoms

    man dumps feed from a white bucket in front of a lineup of dairy cows behind a metal pole structure
    Dairy farmer Brent Pollard gives cows feed at his cattle farm in Rockford, Illinois.

    • The H5N1 bird flu virus has infected a third person in the US, this time with respiratory symptoms.
    • The new patient's cough and sore throat could help the virus get better at infecting humans.
    • Experts fear the US is missing critical opportunities to check the virus's DNA for new mutations.

    The H5N1 bird flu virus has once again infected a human. But this time, the unlucky patient had a cough and a sore throat, which is a new milestone for the virus's spread in the US.

    The H5N1 virus has become a pandemic among animals, raging through worldwide bird populations and now through US cattle herds.

    This latest human case, which the US Centers for Disease Control and Prevention confirmed on Thursday, is the third known human case in the US, following one in Texas and another in Michigan.

    All three people are dairy farm workers who were exposed to infected cows, according to the CDC.

    The first two cases, however, only involved eye symptoms, including conjunctivitis or pink eye. That means the infection was probably limited to their eyes. Now it has hit someone's lungs.

    The risk to the general public is still low, the CDC says, but these new symptoms suggest the virus may have entered a new phase of its flirtation with human infection.

    Lungs give the virus more opportunity to adapt to humans

    St. Jude virologist Richard Webby is a leading researcher on an H5 group of influenza viruses, which have been circulating in bird populations for about 25 years.

    Since 2021, the H5N1 virus has branched out to new frontiers of sustained spread, infecting dolphins and porpoises, migrating to the Americas, culling sea lions and seals, and now spreading through US cattle herds.

    two people in white biohazard suits with masks and goggles handle a vial on a beach next to a dead porpoise
    Scientists collect organic material from a dead porpoise on the coast of the Atlantic Ocean, during a bird flu outbreak in Sao Jose do Norte, Brazil.

    "This virus keeps on turning up surprises," Webby, who directs the World Health Organization Collaborating Centre for Studies on the Ecology of Influenza in Animals and Birds, told Business Insider. "Had you asked me, beginning of the year, what the chances are of H5 turning up in cows, I would have said exceedingly low."

    Still, he said, H5N1 is still more of a bird virus than a mammalian virus. That's mainly because of the receptors it binds to in order to enter its hosts' cells and replicate itself.

    "Avian viruses bind to one form of this receptor on the host cell. Mammalian viruses bind to a different form," Webby said.

    The mucus lining the human eye (where the first farmworker got conjunctivitis) is rich in the receptors that avian viruses grab, he said. There, the H5N1 virus can continue operating as an avian virus grabbing avian receptors, with no need to adapt to human receptors.

    But our respiratory tracts are full of both forms of this receptor the form preferred by avian viruses and the one preferred by mammalian viruses. Therefore, being in the lungs gives H5N1 more exposure to the receptors that mammalian viruses use, according to Webby.

    That gives H5N1 more opportunity to sustain a mutation that would allow it to bind to those mammalian receptors, adapting better to human bodies.

    That's the concern, but it's not clear if that has actually happened inside this patient's lungs. For such a mutation to be significant, it would then have to spread to other people as well. So far, based on all known cases, the virus has been unable to spread from one person to another.

    Sequencing the virus tests for mutations

    In a New York Times opinion piece on Sunday, virologist Rick Bright argued that the emergence of respiratory symptoms indicates "a dangerous inflection point" for the virus.

    After all, he wrote, "Coughing can spread viruses more easily than eye irritation can."

    Man coughing
    Coughing can spread respiratory infections like common cold or COVID-19.

    But for Webby, the Michigan patient's cough "doesn't change a whole lot."

    Two previous one-off human cases of H5N1 — one in Chile and one in Ecuador — featured respiratory symptoms.

    The virus didn't necessarily have to mutate to infect the Michigan farmworker's respiratory system, according to Webby. The person could have simply encountered a large amount of virus, maybe an especially ill cow.

    "That's me sort of looking at the crystal ball a little," he said, adding that it's "the most likely explanation for what we're seeing, rather than the other one, which is of course much more scary, that this virus has already changed."

    Either way, scientists won't know if any scary mutations have occurred until they can examine the virus's DNA sequence from this new case. The patient carried such small amounts of the virus, though, that it's possible the CDC won't have enough to get the sequence, Webby said.

    DNA sequences are critical. By checking the virus's genes in each new human case, no matter how mild the symptoms, scientists can identify any fresh mutations that help it adapt to humans. If H5N1 becomes a bona fide mammalian virus, they could watch its transformation in real-time.

    blue gloved hands in a white lab coat hold a large syringe and a lab tube of fluid
    A federal agricultural inspector works on a sample to test for avian influenza virus in Campinas, Brazil.

    "The very first signals we're going to get that this virus is changing are probably going to come from human infections," Webby said.

    So far, though, the government's monitoring may not be robust enough to spot those mutations early.

    Experts call for more testing so they won't miss mutations

    The FDA has detected fragments of the virus in commercial milk and beef. Though it's unlikely that food could infect you, public-health experts have told BI, caution-minded people can cook their eggs and meats all the way. Nobody should drink unpasteurized milk, aka raw milk, they say.

    Cattle look at the camera in front of a hay feeder.
    US government agencies are monitoring cattle herds for H5N1, but scientists want to see more DNA sequences.

    The real risk is to people who work directly with sick animals, especially farmworkers like the three who have been infected so far.

    Nationwide, the government is monitoring about 350 people who may have been exposed to H5N1, most of them in Michigan, CDC Deputy Director Nirav Shah told the press in a briefing on Thursday. However, only about 40 farmworkers have been tested for the virus, The New York Times reported.

    "We would like to be doing more testing," Shah said, according to STAT News.

    Bright argues that the government's weak testing regime could be allowing farmworker infections to fly under the radar.

    man with turkeys inside coop. sign outside reads 'biosecurity area - no admittance w/o owner permission
    Bill Powers with his flock of white turkeys, kept under shelter to prevent exposure to bird flu, on November 14, 2022 in Townsend, Delaware.

    However, undetected cases are not the same thing as undetected spread.

    Bright's essay rings alarm bells about unknown human-to-human transmission, but Webby finds that unlikely. Even with its current monitoring, the CDC would probably detect sustained human spread, he said.

    Rather, the problem with undetected cases is that nobody can sequence their samples. Those are windows into the virus's DNA (and possible mutations) that nobody is peeking through.

    Webby and Bright agree that scientists need more sequences of the virus, more quickly. Despite the ongoing herd spread, for example, the USDA hasn't shared a new sequence from a cow infection sample in weeks, according to Bright.

    "Bottom line is we need to have more information from exactly what this virus is doing," Webby said. "The more we can understand about it, I do believe we can properly control it, or at least control it way better than we are."

    Read the original article on Business Insider
  • Roaring Kitty could get booted from E*Trade after his social media post revealing his apparent position in GameStop caused the stock to surge

    GameStop store
    GameStop's stock surged on Monday after Keith Gill posted a screenshot that appeared to show he held a $116 million position in the retailer.

    • Keith Gill may face an E*Trade ban, sources told The Wall Street Journal.
    • Gill posted a screenshot on Sunday that appeared to show he had a $116 million position in GameStop.
    • E*Trade, owned by Morgan Stanley, is worried about potential stock manipulation, the Journal reported.

    Trader Keith Gill, also known on social media as "Roaring Kitty" or "DeepFuckingValue," could get barred from E*Trade after a screenshot he posted that appeared to show a huge stake in GameStop caused the stock price to soar.

    That's according to a Monday report in The Wall Street Journal, which cited unnamed people familiar with the situation at E*Trade, a trading platform owned by Morgan Stanley.

    The unnamed sources said the prominent meme-stock trader sparked concern about potential stock manipulation after he bought a bunch of GameStop options shortly before breaking his three-year social media silence last month.

    Prior to last month, Gill had not posted to his social media accounts since 2021. Then, on May 12, he began making cryptic posts on X. After he reemerged, GameStop surged yet again.

    Then, on Sunday night, he shared a screenshot of an E*Trade account that appeared to show he had a $116 million position in GameStop, triggering another frenzy that caused the meme stock to soar.

    The Journal also reported that the Massachusetts securities division is examining Gill's actions. The Massachusetts securities division did not immediately respond to a request for comment from BI.

    The Journal reported no decision had been made yet on whether to stop Gill from trading on the platform. People familiar with internal discussions told the outlet they are still weighing if Gill engaged in manipulation and that the platform is concerned about losing customers — and the potential reaction of Gill's fans — if he were barred.

    Morgan Stanley declined to comment when reached by Business Insider. Gill did not immediately respond to a request for comment from BI.

    Shortly after the Journal reported on his potential barring from E*Trade, Gill posted another screenshot that appeared to show he maintained his position in GameStop on Monday, even as the value of his stake seemingly jumped from $116 million to $140 million in less than a day.

    Read the original article on Business Insider
  • The ‘promised land’ jobs of stability and high paychecks for recent grads are falling apart

    'Promised Land'
    The Class of 2024 is graduating into an uncertain job market, where the best jobs are harder than ever to come by.

    • Tech, consulting, and finance jobs are harder to secure due to hiring cuts and more competition.
    • Students are stacking internships and expanding their job search — including to the government.
    • Plagued by layoffs, hiring at tech seems to have taken the biggest hit — by nearly every measure.

    Management consulting, Big Tech, and finance are the go-to industries for many college students because they pay big money and look great on a résumé.

    But those jobs at the entry level are harder to come by now, data shows and experts say. It's upending the job search for young people trying to find their footing in a fast-shifting workforce.

    According to one survey by the National Association of Colleges and Employers, 21% of companies at large said they expect to decrease hiring this academic year. In the 2023 and 2022 versions of the survey, only 6% and 3.5% of employers, respectively, said that they expected hiring to drop.

    Economists, career experts, and students who spoke to Business Insider all agree on one thing: If you're fixated on a career in one of these three industries, it's going to be a tough ride that won't get easier for future classes, especially as artificial intelligence starts to affect white-collar jobs.

    Last month, people at Wall Street banks, including Goldman Sachs and Morgan Stanley, told The New York Times that their firms are considering cutting back on fresh graduate hiring by up to two-thirds. Analysts who make it in may be offered lower salaries because their work can be assisted by AI.

    Those in tech fear a similar fate.

    Students "are scared that engineering roles will be replaced in the future," said Austin Wang, a class of 2025 computer science major at Yale University.

    Management consulting

    Known for $200,000 straight-out-of-business-school pay packages and work across industries, consulting giants like McKinsey, Boston Consulting Group, and Bain & Company have long been the dream for fresh graduates.

    Now, less client work is forcing these firms to tighten their belts.

    In March, professional services firm Accenture pushed back start dates. McKinsey went one step further and offered UK employees nine months' worth of pay and career-coaching services as an incentive to leave the firm. The tactics came after the firm said it would slash 1,400 jobs globally last year.

    The McKinsey & Company logo on a building.
    The management consulting firm is dangling career coaching services and up to nine months worth of pay.

    Industry woes are showing up in hiring numbers, too.

    Jobs posted for fresh graduates under the category "professional services" — a proxy for consulting fell over 14% from 2023 to 2024, according to data from Handshake, a job platform for college graduates.

    "Consulting has been very difficult in particular because these companies who hired interns to work for them have asked them to delay their start date," Beth Hendler-Grunt, the president of Next Great Step, a career counseling service for college graduates, told BI.

    Some consultancies pushed entry-level start dates back eight to 11 months, she said: "That is a lot to ask of somebody to wait around and hope that the job is still there."

    Given the market's pessimism, students are applying to more companies, hoping to improve their odds of success. Business students from this year's graduating class are less likely to apply to consulting roles and more likely to seek positions in customer relations, marketing, and analytics, according to a Handshake survey. Handshake polled about 2,700 undergraduate students who are graduating this year from 616 US colleges.

    Matthew Park, who just graduated from Yale after serving as the president of the university's undergraduate consulting group, said the market has changed since he applied to internships in 2022. He said those who applied with him had a much easier time landing offers than this year's cohort — but his peers, on the whole, want to stick with consulting.

    "I don't really think there's been a marked shift in student interests," Park said about the demand for these roles. "If there has been a shift, I'd say it's a shift more out of necessity than intrinsic interest."

    Tech

    Plagued by layoffs and budget cuts, hiring in tech seems to have taken the biggest hit of all three industries examined in the story.

    Tech job postings geared toward fresh graduates fell by 30% compared with last year, according to data compiled by Handshake, a job platform for college graduates. Companies are cutting workforces that swelled during zero-interest-rate, pandemic-era boom times.

    Career consultants are seeing a change in the job market.

    "We have students who come in from excellent schools and Ivy League schools with STEM experience and are still struggling to land interviews," said Hendler-Grunt, the career advisor.

    To improve their chances, some students are branching out.

    Austin Wang and Anika Nair
    Austin Wang, a computer science student at Yale, and Anika Nair, a computer science graduate at Rutgers University.

    Yale's Wang, who leads a computer science club at the university, has seen his peers apply to more jobs and more diverse roles, including engineering jobs in finance.

    "There is overall a lot more stress going around this year due to the recruitment cycles being tougher than usual," Wang said.

    Anika Nair, a computer science student who graduated from Rutgers University last month, said she expected her résumé — including cloud certification and a software engineering internship at JPMorgan — would make her search straightforward.

    "I started job searching in December of last year and continued to do so through 2024 — I sent out around 200 applications, received 20 interview invitations, and experienced numerous ghostings and rejections," she told BI. "I didn't expect it to be this hard."

    Investment banking

    The first quarter of the year has been one of mixed signals for Wall Street's mightiest investment banks — and their head counts.

    Citigroup began the year saying it would lay off as many as 20,000 employees in the next two years. Around the same time, JPMorgan said it would spend $2.8 billion in 2024, primarily on hiring. Within a month of those announcements, Deutsche Bank announced it would cut 3,500 jobs.

    While industry hiring sentiment remains mixed, job platforms are seeing a drop in finance postings. The number of early-career postings for financial services, which include more than just investment banking roles, dropped over 13% for the Class of 2024, according to Handshake. Finance-related roles made up more than one-fifth of total applications, the survey found.

    JPMorgan
    Investment banks like JPMorgan are the top prize for business graduates around the world.

    In Singapore, undergraduates are stacking investment banking internships with the ultimate prize: a full-time job. Some Singaporean students take off a semester for off-cycle internships to bolster their résumés.

    "There's so much stress seeing friends taking a whole semester off to do an internship. If you are not taking the semester off, you'll be like, 'Oh, am I doing something wrong?'" one National University of Singapore student previously told BI.

    Students are hedging their bets

    The government looks like the biggest winner of the drop in tech and professional services hiring.

    According to Handshake, about 7.4% of job applications from 2024 graduates have been submitted to government roles, compared to 5.5% last year.

    After hearing about so many layoffs and hiring freezes, some students are prioritizing working in industries that feel more stable, like government work, said Christine Cruzvergara, the chief education strategy officer at Handshake.

    Career counselors at top schools are also noticing that students are less likely to stick to a short list of companies.

    Richard Carruthers, the deputy director of careers service at Imperial College London, said more students this year have backup plans and that the process is taking longer for students who get offers.

    "We're seeing more students waiting longer for decisions about offers, across many sectors," he said. "Students with good prior experiences and strong CVs are included within this."

    Work visa restrictions

    A tougher job market means more clampdowns on work visas.

    Over the past month, KPMG, Deloitte, and HSBC rescinded offers for foreign graduates who no longer meet sponsorship requirements due to UK visa rule changes. Employers must now pay skilled workers nearly 50% more than the previous minimum threshold to be able to sponsor work visas.

    An international student at the National University of Singapore who graduated with internships at Amazon Web Services and Deloitte said she started her job hunt in August and has applied to over 400 roles. She spoke anonymously because of her ongoing job search; her identity is known to BI.

    "It's quite bad for entry-level jobs in general but even worse for international students," she said. "I've reached out for referrals to seniors, only to learn that their company has stopped sponsoring visas."

    "I saw my friends struggle to get interviews in 2023, and with the way layoffs continued, I knew it would be harder in 2024," she said.

    She has yet to receive a full-time offer.

    Do you have a career story to share? Get in touch with this reporter by email.

    Read the original article on Business Insider