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What you need to know on Wall Street right now

Finance Insider is Business Insider's midday summary of the top stories of the past 24 hours.

Warren Buffett

Welcome to Finance Insider, Business Insider's summary of the top stories of the past 24 hours.

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There has been a lot of news in the investment world in the past 24 hours, so let's dive right in:

  • Warren Buffett is investing billions into an industry he once called a "death trap"
  • SoftBank is buying Fortress for $3.3 billion
  • Billionaire investor Nelson Peltz took a huge stake in Procter & Gamble
  • GM's management is facing a nightmare scenario with David Einhorn
  • David Einhorn dumped all $143.5 million of his Michael Kors investment
  • David Tepper's Appaloosa dropped about $1 billion on 4 pharma stocks
  • Billionaire Chase Coleman's Tiger Global made a nearly $500 million bet on Fiat
  • Izzy Englander's $35 billion hedge fund made a big bet on Target
  • A $20 billion investment firm dumped its huge trade in Apple — and bet on Alphabet and Microsoft
  • A $14 billion hedge fund is sounding the alarm on distress in the retail sector
  • Morgan Stanley's global head of stock trading just quit to join a $35 billion hedge fund
  • Morgan Stanley's top US equity strategist is leaving the bank for a quant shop
  • A big Massachusetts pension has yanked its money from one of the hedge fund industry's struggling titans
  • Warren Buffett just dropped Walmart and signaled the death of retail as we know it
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  • Fed’s Yellen speaks out against Trump's Wall Street deregulation push
  • Yellen wants to leave the Fed's balance sheet alone for now
  • Asked about Trump's immigration plans, Janet Yellen says "slowing immigration would slow economic growth"

There is a bunch of news in the healthcare sector, too. Here's what you need to know:

  • The Trump administration just proposed massive changes to Obamacare
  • One of the US's largest health-insurance companies is dumping Obamacare; Trump says law "continues to fail"
  • Cigna is suing Anthem for $13 billion after walking away from their merger
  • AETNA CEO: The Obamacare exchanges are in a "death spiral"

One of Wall Street's top equity analysts reveals his biggest fear for 2017 - Business Insider asked the Head of US equity strategy at JP Morgan what keeps him up at night.

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