For the first time in a seemingly protracted time, the Us stock market closed higher on Friday. The rise was accredited mostly to a recovery in oil sectors from an all-time low. In a recent article on CNBC, Chris Gaffney took to the stage to acknowledge oil as the key factor for the growth stating that ensuring oil prices stop falling has been an important factor in ensuring investors put their money into the field. The price of a barrel of oil went up by 2.66 dollars to see a 9% rise, which is one of its largest single day growth in a long time.The Dow Jones industry average saw an increase of 210 points higher on closure.
Apple was also a critical influence on the growth with a 5.3% jump following recommendations in anticipation for the iPhone 7 launch in September that’s expected to push the stock up by 50%. The American Express proved to be one of the biggest downfalls for the Dow Jones with a 12.1 % drop recorded. The growth is seen as a move aimed at over correction in fears of recession. The CNBC article quotes Joe Sowin, who credits the growth to beaten down sectors trying to recover and, in turn, having an enormous impact on the stock market.
Joe Sowin is currently the head of global equity trading at Highland Capital Management that’s one of the largest credit management with over 22 billion dollars under management. James Dondero is at the helm of Highland Capital as the president and a co-founder. Jim is well versed in the equity and credit markets and has amassed over 30 years of experience in the field. Highland capital management was instituted in 1993 and has been highly influential in the development of Collateral Loan Obligation markets.
Jim also serves as chairperson of CCS Medical, Cornerstone Healthcare, and Nexbank. He is also a board member on MGM studios and American Banknote. Apart from this, Jim has also served in numerous posts in other organizations before joining Highland Capital. In 1985 to 1989, James served as a Corporate Bond Analyst at American Express before promotion to a Portfolio Manager. He also helped institute the GIC subordinate of Protective life in 1989 and oversaw its 2 billion growth to the period ended 1993.
The Virginia University graduate has the highest Beta Gamma Sigma and Beta Alpha Psi honors from the McIntire school of commerce with double majors in finance and accounting. He has also received CMA(Certified Management Accountant), CPA(Certified Public Accountant) and CFA(Certified Financial Analyst) certification. James Dondero is by all means highly accomplished and successful in the world of corporates.
In the corporate world, people who succeed rarely sit back and let things happen to them. They go out and happen to things. James Dondero is a moving testament to achieving what you perceive and lives a life worth emulation.