The Canadian Press
Nearly half of U.S. elementary schools were open for full-time classroom learning as of last month, but the share of students with in-person instruction has varied greatly by region and by race, with most nonwhite students taught entirely online, according to a Biden administration survey. For the White House, the results of the national survey released Wednesday mark the starting line for President Joe Biden’s pledge to have most K-8 schools open full time in his first 100 days in office. But they also show that he never had far to go to meet that goal. Among schools that enrol fourth graders, 47% offered full-time classroom learning in February, while for schools that teach eighth-graders, the figure was 46%. The results suggested that at least some students weren’t opting in. In total, about 76% of elementary and middle schools were open for in-person or hybrid learning, according to the survey, while 24% offered remote learning only. The percentage of students spending at least some time in the classroom has probably increased since February, when coronavirus rates were just coming down from a national surge. Education Secretary Miguel Cardona said the findings, while encouraging, also showed “critical gaps” for in-person learning, especially for students of colour. “While schools continue to show us what’s possible as they work to open their doors and meet students’ needs, we know that we still have a lot of ground to go,” Cardona said. “We owe it to our students — especially students in underserved communities and students with disabilities — to get all our schools opened safely and to meet the social, emotional, mental health and academic needs of all students.” Before Wednesday’s school reopening summit, the administration announced it was releasing $81 billion in education assistance from the $1.9 trillion virus relief bill. The survey findings establish a baseline data set that the administration plans to update each month to show how many U.S. schools are teaching in-person, online or through a combination. The government did not previously collect such information. The findings are based on a survey of 3,500 public schools whose student bodies include fourth graders, along with 3,500 schools that serve eighth graders. Forty-four states agreed to participate; six states declined. The survey asked schools about their teaching methods as of February but gathered other data as of January. The survey casts new light on a period of particularly bitter debate in the school reopening process. In January, officials in California, Chicago and other places were in stalemates with teachers over reopening plans,. Vaccinations were often a sticking point. Since January, the push to reopen has gained steam in many areas. The Centers for Disease Control and Prevention issued a road map to reopening in February. This month, the CDC relaxed guidelines around social distancing in schools. Under pressure from Biden, dozens of states are now focusing on giving COVID-19 vaccines to teachers and other school staff. As more schools invite students back to the classroom, many parents are conflicted, according to a poll from The University of Chicago Harris School of Public Policy and The Associated Press-NORC Center for Public Affairs Research. It found that a majority of parents are at least somewhat concerned that in-person instruction will lead to more people being infected, but a slightly larger share is at least somewhat concerned that students will face setbacks in school because of the coronavirus pandemic. In addition to tracking school teaching methods, the federal survey also tracks how many students have enrolled in each type of learning. In January, the survey found, 38% of fourth graders enrolled in full-time, in-person learning, compared with 28% of eighth graders. Larger shares of students were entirely remote, with 43% of fourth graders and 48% of eighth graders learning away from school. It was not clear what share was learning online by choice and how many students were in schools without in-person options. There were stark differences based on where students live, reflecting the regional battles that have played out as cities debate how and when to reopen schools. In the South and Midwest, where schools were the quickest to reopen, just under 40% of eighth grade students were enrolled full time in classroom instruction in January. In the West and Northeast, the figure was about 10%. Across all regions, students in rural areas and towns were far more likely to be back in the classroom full time compared with students in cities and suburbs. In a further illustration of the pandemic’s uneven impact, the survey found striking differences based on students’ race. Among fourth graders, almost half of white students were learning fully in-person, with just over one-quarter learning online. Among Black and Hispanic students, nearly 60% were learning entirely remotely. The difference was even wider among students of Asian descent, with 68% remote and just 15% attending fully in-person. Similar disparities have been uncovered in many cities, raising alarms among education advocates who fear the pandemic is worsening racial inequities in education. The administration has pledged to confront racial gaps in education and is urging schools to prioritize the issue as they spend the billions in recently approved relief aid. As of January, the survey also found that students with disabilities and those who are learning English were not being brought back to the classroom at significantly higher rates than other students. Just 42% of those with disabilities and 34% learning English were enrolled in full-time classroom learning, compared with 38% of all students. Even so, more than 40% of schools reported on the survey that they were giving priority to students with disabilities, who often have more difficulty with remote learning. Among students learning online, the amount of time spent with a live teacher also varied greatly, the survey found. Roughly one-third of schools offered more than five hours a day of live instruction, but another third offered two hours or less. Among schools serving eighth graders, 10% were offering no live instruction at all. The survey does not include high schools, which weren’t included in Biden’s reopening promise and pose additional challenges as they work to reopen. Younger children are less likely to get seriously ill from the coronavirus, and education experts say they have the greatest need for in-person learning. The Education Department said it will issue updated data from the survey each month through July. The information is published on a dashboard on the agency’s website. Collin Binkley, The Associated Press
Here’s What Makes Intuit (INTU) A Meaningful Investment – Yahoo Finance
Cooper Investors, an investment management firm, published its “Cooper Investors Global Equities Fund (Hedged)” third quarter 2021 investor letter – a copy of which can be downloaded here. For the rolling three months to one year, the Fund returned 5.7% and 28.24% respectively, while its benchmark, by comparison, returned -0.42% and 26.57% over the same period. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.
Cooper Investors, in its Q3 2021 investor letter, mentioned Intuit Inc. (NASDAQ: INTU) and discussed its stance on the firm. Intuit Inc. is a Mountain View, California-based software company with a $156.4 billion market capitalization. INTU delivered a 50.80% return since the beginning of the year, while its 12-month returns are up by 72.12%. The stock closed at $572.80 per share on October 19, 2021.
Here is what Cooper Investors has to say about Intuit Inc. in its Q3 2021 investor letter:
“The other meaningful deal during the quarter was Intuit’s acquisition of Mailchimp for $12bn. Intuit has reinvented itself over the last decade and thrived with a leadership position in QuickBooks Online, the financial accounting software for small businesses (effectively the ‘Xero of the US’). We originally invested in Intuit in February 2020, excited by the QuickBooks prospects.
Management have executed exceptionally well on the opportunity set which has seen the shares double since our initial purchase. However, the company has now conducted two meaningful deals in Mailchimp and Credit Karma worth a combined US$20bn over the last 12 months. The investment proposition has shifted from a focus on QuickBooks to now being a financial and small business software conglomerate. We continue to very much admire the company, but with Intuit now trading on 50x forward earnings we no longer see such attractive latency on offer, nor the rewards for the level of execution risk and thus we have exited the position.”
Based on our calculations, Intuit Inc. (NASDAQ: INTU) was not able to clinch a spot in our list of the 30 Most Popular Stocks Among Hedge Funds. INTU was in 66 hedge fund portfolios at the end of the first half of 2021, compared to 68 funds in the previous quarter. Intuit Inc. (NASDAQ: INTU) delivered an 11.34% return in the past 3 months.
Hedge funds’ reputation as shrewd investors has been tarnished in the last decade as their hedged returns couldn’t keep up with the unhedged returns of the market indices. Our research has shown that hedge funds’ small-cap stock picks managed to beat the market by double digits annually between 1999 and 2016, but the margin of outperformance has been declining in recent years. Nevertheless, we were still able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by 115 percentage points since March 2017 (see the details here). We were also able to identify in advance a select group of hedge fund holdings that underperformed the market by 10 percentage points annually between 2006 and 2017. Interestingly the margin of underperformance of these stocks has been increasing in recent years. Investors who are long the market and short these stocks would have returned more than 27% annually between 2015 and 2017. We have been tracking and sharing the list of these stocks since February 2017 in our quarterly newsletter.
At Insider Monkey, we scour multiple sources to uncover the next great investment idea. For example, lithium mining is one of the fastest-growing industries right now, so we are checking out stock pitches like this emerging lithium stock. We go through lists like the 10 best EV stocks to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. We read hedge fund investor letters and listen to stock pitches at hedge fund conferences. You can subscribe to our free daily newsletter on our homepage.
Disclosure: None. This article is originally published at Insider Monkey.
New Found Announces $48 Million Investment by Eric Sprott – Yahoo Finance
/THIS NEWS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO BUY ANY OF NEW FOUND GOLD CORP.’S SECURITIES IN THE UNITED STATES/
VANCOUVER, BC, Oct. 21, 2021 /CNW/ – New Found Gold Corp. (“New Found” or the “Company“) (TSXV: NFG) (NYSE American: NFGC) is pleased to announce that it has arranged a non-brokered private placement with Mr. Eric Sprott of 5 million common shares of New Found (the “Common Shares“), at a price of C$9.60 per Common Share, for gross proceeds of C$48 million (the “Offering“).
New Found intends to use the proceeds of the Offering to fund exploration of New Found’s 100% owned Queensway Project and for working capital and general corporate purposes. The Offering is subject to the satisfaction of customary closing conditions, including the approval of the TSX Venture Exchange (the “TSXV“) and approval by the shareholders of the Company if required by the TSXV.
Collin Kettell, Founder & Executive Chairman of New Found Gold stated: “Mr. Eric Sprott has been a major supporter of New Found Gold since prior to the Company’s IPO. New Found Gold finds itself in an enviable position, well-funded with approximately $150 million in working capital post raise, as the Company continues to explore for high-grade gold at its Queensway Project. With a district size land package and our success to date, we believe there is great potential for this success to continue to build as we advance our program. On behalf of management and the Board of Directors, I would like to thank Eric for his continued support.”
Mr. Sprott currently beneficially owns 31,601,200 common shares of New Found. Upon closing of the Offering, Mr. Sprott will beneficially own 36,601,200 common shares of New Found.
In the event the TSXV requires shareholder approval of the Offering, the Company will call a special meeting of its shareholders. The Offering is expected to close shortly after all necessary approvals are obtained.
Any securities issued pursuant to the Offering will be subject to a hold period under applicable Canadian securities laws, which will expire four months plus one day from the date of closing of the Offering. A 1% finders’ fee is payable in connection with the Offering.
The securities to be issued under the Offering have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act“) and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act. This news release does not constitute an offer to sell or a solicitation of an offer to buy any of New Found’s securities in the United States.
About New Found Gold Corp.
New Found holds a 100% interest in the Queensway Project, located 15 km west of Gander, Newfoundland, and just 18 km from Gander International Airport. The project is intersected by the Trans-Canada Highway and has logging roads crosscutting the project, high voltage electric power lines running through the project area, and easy access to a highly skilled workforce. The Company is currently undertaking a 200,000m drill program at Queensway. With a current working capital balance of approximately $103 million, New Found is well funded for this program.
To contact the Company, please visit the Company’s website, www.newfoundgold.ca and make your request through our investor inquiry form. Our management has a pledge to be in touch with any investor inquiries within 24 hours.
New Found Gold Corp.
Per: “Craig Roberts”
Craig Roberts, P.Eng., Chief Executive Officer
Phone: + 1 (910) 406 2407
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statement Cautions
This press release contains certain “forward-looking statements” within the meaning of Canadian securities legislation, relating to the Offering, TSXV approval of the Offering, the requirement for and timing of shareholder approval of the Offering, the closing of the Offering, and the timing related thereto, drilling on the Queensway gold project and funding of the drilling program. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are statements that are not historical facts; they are generally, but not always, identified by the words “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects,” “aims,” “suggests,” “potential,” “goal,” “objective,” “prospective,” “possibly,” and similar expressions, or that events or conditions “will,” “would,” “may,” “can,” “could” or “should” occur, or are those statements, which, by their nature, refer to future events. The Company cautions that forward-looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made, and they involve a number of risks and uncertainties. Consequently, there can be no assurances that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Except to the extent required by applicable securities laws and the policies of the TSXV, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions, or other factors, should change. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include risks associated with the Company’s ability to satisfy the conditions to close the Offering, including the Company’s ability to obtain all necessary shareholder and stock exchange approvals, possible accidents and other risks associated with mineral exploration operations, the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of assay results and the drilling program, the possibility that the Company may not be able to secure permitting and other governmental clearances necessary to carry out the Company’s exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company’s business and prospects. The reader is urged to refer to the Company’s Annual Information Form and Management’s discussion and Analysis, publicly available through the Canadian Securities Administrators’ System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors and their potential effects.
View original content to download multimedia:https://www.prnewswire.com/news-releases/new-found-announces-48-million-investment-by-eric-sprott-301405422.html
SOURCE New Found Gold Corp.
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2021/21/c0025.html
Bitcoin is over $66,000. Here are 3 questions to ask yourself before you invest – CNBC
With all the hype, investors may feel tempted to buy in on the fear of missing out, or “FOMO.”
“A lot of people who have yet to get into the space or really learn more about it are going to be bombarded with a lot of noise right now,” Douglas Boneparth, certified financial planner and president of Bone Fide Wealth, tells CNBC Make It.
But before investing in bitcoin or any other cryptocurrency, it’s important to step back from the noise and excitement and first understand what it means to invest in a digital asset, he says.
To do that, Boneparth recommends asking yourself three questions.
1. Why am I investing?
First, assess why you want to invest in the first place.
If you’re just afraid of missing out, then you should probably pause before moving forward. It’s important to truly understand bitcoin, cryptocurrency or any asset prior to investing in it.
“‘Educate before allocate’ is a phrase that me and my friends are using,” says Boneparth, who has invested in bitcoin since 2014.
Taking a step back may be difficult, especially now as bitcoin hits an all-time high, but it’s worth taking some time to research what it is, how it operates and what the risks are before parting with your money.
2. Can I handle volatility?
Next, consider how well you handle extreme swings in price, since bitcoin is a notoriously volatile asset. “That’s not easy to handle for most investors,” Boneparth says.
For some people, the volatility “may be OK, that may coincide with your appetite for risk and your own risk tolerance and investment time horizon,” Boneparth says. “But, you still got to live with it.”
Other investors may prefer something more stable.
But regardless of your tolerance level, financial experts warn that the volatility makes bitcoin and other cryptocurrencies a riskier investment than something like a low-cost index fund, which should be kept in mind.
3. How much can I afford to allocate?
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