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The Fed won’t talk about talking anymore: Morning Brief

Bloomberg

Investor Who Gained 20,000% on Alibaba Bets on Smart Cities

(Bloomberg) — In 1999, Benson Tam decided to help out his buddy Joe Tsai and orchestrated a $500,000 investment for his then-untested startup. That company turned out to be Alibaba Group Holding Ltd., which revolutionized online shopping in China and debuted 15 years later with the world’s largest initial public offering, yielding a 200-fold return for Tam and his partners.In contrast with his decisive bet into Alibaba, Tam has spent the better part of the past decade studying and planning for

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