Complete And Total Nonsense

It is events like yesterday that sustain my belief in active management. Late Friday night, the New York Post published an article claiming that Kraft Heinz is interested in buying Campbell Soup. After a weekend of being able to digest the news, shares of the soup maker jumped by more than 10% once markets reopened on Monday on a day when the broader market was lower by nearly -2%. This outcome is extraordinary, not because of the notion of a potential takeover in the food space but instead because the report is likely complete and total nonsense.

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