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The Pandemic Could Cost Buffett US$46.5 Billion of Losses According to documents released by the US Securities and Exchange Commission (SEC), Buffett ‘s Berkshire Hathaway sold Bank of New York Mellon’s share worth of more than US$30 million on Tuesday and Wednesday. Before the US stock market slump in early March, Buffett increased his holding of the Bank's shares by US$359 million.   In view of BNY Mellon's stock price trend, Buffett had sold the shares at a loss. As Berkshire Hathaway's 11th largest stock holding, BNY Mellon's stock fell 25.7% during the year, rendering Buffett more than US$1 billion of loss so far.To get more news about <b><a href="https://jump.wikifx.com/EA566454974FB57A">WikiFX</a></b>, you can visit wikifx news official website.   Data shows that year to date, Buffett ‘s Berkshire Hathaway has lost US$46.5 billion(equivalence of ¥325.5 billion), or 19% of the company's total stock positions. Among Berkshire Hathaway's stock holdings, Bank of America, Wells Fargo Bank, Apple, American Express, United Bank of America, Delta Air Lines, Coca-Cola, JPMorgan Chase, United Airlines, Kraft Heinz and BNY Mellon all saw losses of over US$ 1 billion, with over US$ 6 billion of loss in the company’s no.1 holding Apple. Only less than 10 companies' shares, including Moody s, Amazon, Costco, Biogene, and Teva Pharmaceuticals, had been profitable.
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Stock market crashes since 1870 show 2020 bear rally is doomed A Societe Generale study of bear markets since 1870 showed that the current bear-market rally is a departure from history. Andrew Lapthorne, the firm's head of quant strategy, concluded that investors are taking an early victory lap for the economy even after accounting for trillions in stimulus spending. He expects the stock market to end the year roughly 7% lower than current levels. Click here for more BI Prime stories.To get more news about <b><a href="https://jump.wikifx.com/EA566454974FB57A">WikiFX</a></b>, you can visit wikifx news official website.   April was the best month for stocks since 1987. But this stand-out performance is not being universally cheered on Wall Street. The S&P 500's 13% ascent last month can be traced back to its bottom on March 23 — the same day the Federal Reserve essentially pledged to do whatever it takes to support the economy during the coronavirus pandemic. Even with this stimulus in action, investors declared an early victory for an economy that must still crawl out of its worst contraction in many decades, according to Andrew Lapthorne, the head of quantitative strategy at Societe Generale. He drew this conclusion by studying a 150-year history of bear markets, defined as a 20% decline from recent highs. “Beware of the oddity in this bear rally,” Lapthorne said in a recent note to clients.   He added: “With the fallout from the complete shutdown of economic life in terms of disruptions in supply chains and collapse of aggregate demand, as well as the uncertainty on the post-lockdown path to recovery, new market bottoms are possible, although the unprecedented massive policy response could provide the backstop to a worsening case of deflationary spiral.”His study of bear markets since 1870 led him to conclude that the S&P 500 would finish the year at about 2,715, representing a 7% decline from its April close.Both the crash and recovery are abnormalLapthorne's analysis started by including episodes since 1870 when the S&P 500's decline could ostensibly have been rounded up to 20%. One recent example was the late-2018 sell-off that winded up as a 19.6% decline.But because the 2020 drop has been a different beast in terms of its speed, comparing it to every bear market was not empirically ideal.   And so he filtered for severe bear markets, defined as drawdowns of at least 30%, to make them comparable to this one. The roster of 15 meltdowns includes infamous sell-offs like the crash of 1929, Black Monday, and the dotcom bust. He found that on average, the S&P 500 recovered by 4% within a month, 13% within three months, and 27% within a year. The typical trajectory of recoveries is similar even when the Great Depression, often likened to the coronavirus crisis, is included.By comparison, stocks have leapt more than 30% from their bottom in March.
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USD Net Shorts Rose to the Highest in Past 2 Years According to Reuters' calculations and the latest data released by the United States Commodity Futures Trading Commission (CFTC), speculative dollar net short positions have increased to the highest level in the past two years in last week; as of the week ending April 21st, USD net short positions totaled US$11.51 billion. Net short positions of the previous week reached US$ 11.39 billion. Reuters calculation of total USD net position in the Chicago International Monetary Market is based on the net positions of six major currencies: Japanese Yen, Euro, British Pound, Swiss Franc, Canadian Dollar, and Australian Dollar.To get more news about <b><a href="https://jump.wikifx.com/EA566454974FB57A">WikiFX</a></b>, you can visit wikifx news official website.   Under the impact of the epidemic, the Fed has continuously launched several rounds of quantitative easing that exceeded market expectations, almost exhausting all conventional and unconventional policy ammunition available. As of now, the Fed has reduced interest rates to zero to inject liquidity into various markets. Investors will still pay close attention to the Fed s outlook on the current economy and whether it will give hints on the introduction of negative interest rates in the future. The brisk rally of 2020 cannot be divorced from the record amount of government stimulus that flowed into the economy. On this account, Lapthorne said the market's roaring comeback is reasonable.He inserted one more caveat into his analysis: 150 years is perhaps too long a timeframe for analyzing the recent bear market. The forces that drive stocks and the economy have evolved over the last century and a half, and so it's possible to slide into the error of comparing apples with oranges.   For this reason, Lapthorne averaged the three most recent severe crashes — in 1987, 2000, and 2008 — and then compared them to the rest of his timeframe. He still found that the post-crisis recoveries were similar to the preceding episodes, leaving 2020 as the odd one out.Lapthorne's grand conclusion is that history is rife with many examples of bear rallies that give way to even deeper losses. He left clients with three recommendations: stay hedged with defensive assets, beware of momentum stocks that are sensitive to broader market moves, and be well-positioned for a rally in undervalued stocks.
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Soaring HKD Hit Strong-side Convertibility Undertaking Recently, the Hong Kong dollar's strong momentum has drawn special attention from the market. The USD/HKD has hit the strong-side convertibility undertaking of 7.75 several times and hovers around this level, which led to the Hong Kong Monetary Authority's intervention on several occasions.To get more news about <b><a href="https://jump.wikifx.com/EA566454974FB57A">WikiFX</a></b>, you can visit wikifx news official website.   Views attributed this to the fact that mainland China and Hong Kong, being the first to effectively contain the virus amid global pandemic, may become "safe havens"that continue to attract international capital flow. But the most convincing argument is the situation of interest rate market. Previously, as the Hong Kong dollar interest rate was significantly lower than the US dollar, traders conducted carry trade by funding US dollar-denominated assets with Hong Kong dollar. But in facing narrowing spreads and asset sell-off, carry traders will be forced to close their positions and in order to do so, they need to buy Hong Kong dollars in the spot market. It's expected that HKMA will continue to implement moderate intervention to stabilize the financial market.   Hong Kong’s linked exchange rate system requires the Hong Kong dollar to be pegged to the US dollar within a certain range. Since 2005, the HKMA has adopted a strong-side convertibility undertaking of 7.75 and a weak-side convertibility undertaking of 7.85; once HKD/USD exchange rate reach the given range, market intervention will be delivered through buying or selling US dollar.
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US personal savings rate increases due to lowered spending amid social distancing   This story was delivered to Business Insider Intelligence Banking Briefing subscribers earlier this morning.To get this story plus others to your inbox each day, hours before they're published on Business Insider, click here.Stay up-to-date with our latest coverage on the impacts of coronavirus on technology, marketing, and the digital economy here.The US personal savings rate (personal saving as a percentage of disposable personal income) increased to 13.1% in March, up from 8% in February, according a study from the Bureau of Economic Analysis (BEA). Consumers put $2.17 trillion into savings, marking the highest rate since 1981.To get more news about https://jump.wikifx.com/EA566454974FB57A WikiFX</a></b>, you can visit wikifx news official website.   Spending fell 7.5% in March, as consumers “canceled, restricted, or redirected their spending,” per BEA, due to social distancing measures related to the coronavirus pandemic. The personal savings rate has been rising the past couple of years as people likely anticipated a recession — and this rate will likely increase further as consumers continue to social distance and receive their stimulus checks. This shift in consumer spending and saving patterns gives banks and neobanks alike the opportunity to highlight their savings accounts and tools.Neobanks can aggressively market their high-yield savings accounts. In recent years, lowering interest rates have contributed to consumer dissatisfaction with savings accounts from incumbent banks. Digital-only banks have stepped in to fill the gap, and high-yield savings accounts are now one of their main selling points: For example, compared with the national average of 0.07% annual percentage yield (APY), Goldman Sachs' digital-only offshoot Marcus offers a savings accounts with a 1.55% APY, and neobanks like Chime and N26 offer above-average APYs too.Though the Fed slashing interest rates to zero toward the start of the coronavirus crisis took some wind out of their sails in terms of the APYs they're offering, neobanks should still look to increase awareness of their high-yield savings account offerings. Some consumers may be looking for ways to maximize their newfound savings, and promoting the benefits of their offerings via marketing campaigns could pay off for neobanks in increased signups and deposits — especially if continued social distancing means that consumers will continue saving more.Big banks can introduce customers to their personal finance management (PFM) features. With savings on the rise, there could be an increased appetite among consumers for tools that help them manage their money and put their savings to good use. Consumers largely want these tools through their banking channels: Over 75% of respondents to an RFi study said they would prefer to use PFM tools from their primary financial services provider — typically a bank — while just 6% said they'd prefer PFM tools from fintechs or neobanks.This makes it an ideal time for banks to increase awareness around their available tools, such as by prompting customers with the tools when they get a deposit or move money into savings. By increasing adoption of these tools, banks could encourage the formation of savings habits that will last beyond the current crisis: Chase, for example, offers Autosave, a digital feature that allows customers to set a savings goal as well as the frequency and amount they'd like to contribute to that goal. Banks should streamline their digital account opening processes in response to the higher personal savings rate. As consumers shelter in place and banks close branches or modify hours, the majority of banking services are being offered remotely, which means consumers looking to open a new savings account likely must do so digitally.Even prior to the pandemic, digital account opening was in demand: 58% of mobile banking users who responded to Business Insider Intelligence's US Mobile Banking Competitive Edge Study 2019 (enterprise only) called the ability to open a new savings account in a mobile banking app “extremely” or “very” valuable. Chase, for example, saw over 2 million accounts opened digitally in 2019, and that number could be higher this year.To avoid discouraging any customer who is interested in opening a savings account during this time, banks should ensure that digital account opening processes are available, reliable, and easy to use — otherwise they could miss out on a potential silver lining of the coronavirus crisis.
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Experimental Treatment with Favipiravir for COVID-19 An outbreak of severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) infection and its caused coronavirus disease 2019 (COVID-19) have been reported in China since December 2019. More than 16% of patients developed acute respiratory distress syndrome, and the fatality ratio was about 1%–2%. No specific treatment has been reported. Herein, we examined the effects of Favipiravir (FPV) versus Lopinavir (LPV)/ritonavir (RTV) for the treatment of COVID-19. Patients with laboratory-confirmed COVID-19 who received oral FPV (Day 1: 1600 mg twice daily; Days 2–14: 600 mg twice daily) plus interferon (IFN)-α by aerosol inhalation (5 million U twice daily) were included in the FPV arm of this study, whereas patients who were treated with LPV/RTV (Days 1–14: 400 mg/100 mg twice daily) plus IFN-α by aerosol inhalation (5 million U twice daily) were included in the control arm. To get more news about https://www.apicmo.com/product/259793-96-9/ 259793-96-9</a></b>, wisepowder official website is the best place for you. Changes in chest computed tomography (CT), viral clearance, and drug safety were compared between the two groups. For the 35 patients enrolled in the FPV arm and the 45 patients in the control arm, all baseline characteristics were comparable between the two arms. A shorter viral clearance time was found for the FPV arm versus the control arm (median (interquartile range, IQR), 4 (2.5–9) d versus 11 . The FPV arm also showed significant improvement in chest imaging compared with the control arm, with an improvement rate of 91.43% versus 62.22% . After adjustment for potential confounders, the FPV arm also showed a significantly higher improvement rate in chest imaging. Multivariable Cox regression showed that FPV was independently associated with faster viral clearance. In addition, fewer adverse events were found in the FPV arm than in the control arm. In this open-label before-after controlled study, FPV showed better therapeutic responses on COVID-19 in terms of disease progression and viral clearance. These preliminary clinical results provide useful information of treatments for SARS-CoV-2 infection. A recent outbreak of coronavirus disease 2019 (COVID-19) caused by the novel coronavirus designated as severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) started in Wuhan, China, at the end of 2019. The clinical characteristics of COVID-19 include respiratory symptoms, fever, cough, dyspnea, and pneumonia [1], [2], [3], [4]. As of 25 February 2020, at least 77 785 cases and 2666 deaths had been identified across China [5] and in other countries; in particular, 977 and 861 cases were identified in South Korea and Japan, respectively. The outbreak has already caused global alarm. On 30 January 2020, the World Health Organization (WHO) declared that the outbreak of SARS-CoV-2 constituted a Public Health Emergency of International Concern (PHEIC), and issued advice in the form of temporary recommendations under the International Health Regulations (IHR). It has been revealed that SARS-CoV-2 has a genome sequence that is 75%–80% identical to that of SARS-CoV, and has more similarities to several bat coronaviruses [6]. SARS-CoV-2 is the seventh reported human-infecting member of the family Coronaviridae, which also includes SARS-CoV and the Middle East respiratory syndrome (MERS)-CoV. It has been identified as the causative agent of COVID-19. Both the clinical and the epidemiological features of COVID-19 patients demonstrate that SARS-CoV-2 infection can lead to intensive care unit (ICU) admission and high mortality. About 16%–21% of people with the virus in China have become severely ill, with a 2%–3% mortality rate [1], [4]. However, there is no specific treatment against the new virus. Therefore, it is urgently necessary to identify effective antiviral agents to combat the disease and explore the clinical effect of antiviral drugs. One efficient approach to discover effective drugs is to test whether the existing antiviral drugs are effective in treating other related viral infections. Several drugs, such as ribavirin, interferon (IFN), Favipiravir (FPV), and Lopinavir (LPV)/ritonavir (RTV), have been used in patients with SARS or MERS, although the efficacy of some drugs remains controversial. It has recently been demonstrated that, as a prodrug, FPV (half maximal effective concentration (EC50) = 61.88 μmol·L−1, half-maximal cytotoxic concentration (CC50) > 400 μmol·L−1, selectivity index (SI) > 6.46) effectively inhibits the SARS-CoV-2 infection in Vero E6 cells (ATCC-1586) [7]. Furthermore, other reports show that FPV is effective in protecting mice against Ebola virus challenge, although its EC50 value in Vero E6 cells was as high as 67 μmol·L−1 [8]. Therefore, clinical studies are urgently needed to evaluate the efficacy and safety of this antiviral nucleoside for COVID-19 treatment.
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Favipiravir: A Potential Antiviral for COVID-19? Researchers review the evidence for testing various drugs in treating COVID-19. Among the drugs reviewed is favipiravir, also known as T-705 or Avigan, a pyrazine derivative that acts as an inhibitor of viral RNA-dependent RNA polymerase, causing chain termination and preventing RNA elongation. Favipiravir has demonstrated activity against influenza viruses, including those that are oseltamivir-resistant, and has been approved in Japan and China for the treatment of novel influenza virus infections. However, it is a mutagen and has potential for both teratogenicity and embryotoxicity in humans. It is orally available and is dosed twice daily in treating influenza. It has also been used for postexposure prophylaxis and treatment for Ebolavirus infection. It has no activity against DNA viruses.To get more news about https://www.apicmo.com/product/259793-96-9/ 259793-96-9</a></b>, wisepowder official website is the best place for you. With regard to COVID-19, lay media have reported on a non-placebo, open-label trial in Shenzhen, China, of oral favipiravir (1600 mg twice daily for 1 day, then 600 mg twice daily) plus inhaled interferon compared with a historical cohort of patients receiving lopinavir/ritonavir for 14 days (Med News Today; 2020 Mar 27). Those receiving favipiravir and interferon had median shedding of virus of 4 days, compared with 11 days in the lopinavir/ritonavir group. Radiographic improvement was seen in 91% of favipiravir-interferon treated subjects compared with 62% of those on lopinavir/ritonavir. The results of this study have not been published in a peer-reviewed journal to date. A prospective, multicenter, open-label, randomized trial in China comparing favipiravir with umifenovir (Arbidol), a membrane-fusion inhibitor active against influenza viruses, was recently reported (MedRxiv 2020 Mar 27; [e-pub]). It demonstrated a higher clinical recovery rate at day 7 in those on favipiravir among moderately ill patients but not among mildly or severely ill patients.
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Russia Ministry of Health Approves Avifavir (Favipiravir) for COVID-19 Patients Russia’s Ministry of Health issued a temporary registration certificate announcing that Avifavir became the world’s first Favipiravir-based drug to be approved for the treatment of COVID-19. TrialSite News has reported that this class of drug has shown some promise in clinical trials in Japan; it was also being studied by Massachusetts General Hospital and Brigham and Women’s Hospital in the form of Avigan. To get more news about https://www.apicmo.com/product/259793-96-9/ 259793-96-9</a></b>, wisepowder official website is the best place for you. Now the Russia Federation has actually approved the drug based on notable efficacy in patients diagnosed with COVID-19. The drug was currently under investigation in a number of cities—from Moscow and Saint-Petersburg to Kazan and Ufa as well as the Republic of Dagestan. TrialSite News first introduced Avigan (Favipiravir) and received many direct emails of interest all over the world including the United States. Known as Avigan, it is an antiviral drug under development by Toyama Chemical of Japan and exhibits effective activity against many RNA viruses. The drug has also been assessed in China for experimental treatment of SARS-CoV-2 and was found to be effective in treating the infection in two clinical trials in Wuhan and Shenzhen. In fact, by February 17, 2020, the head of the China National Center for Biotechnology Department, Zhang Xinmin, reported that the drug showed favorable anti-influenza qualities based on clinical trials in Shenzhen, Guangdong province reported Precision Vaccinations. Avigan has evidenced activity against influenza viruses, West Nile virus, yellow fever virus, foot and mouth disease and others. The global manufacturer and intellectual property owner is Japan’s Fujifilm Holdings Corp and its subsidiary Fujifilm Toyama Chemical Co., Ltd. The Japanese company has a mandate from the Japanese government to produce up to 2 million doses for COVID-19 patients by March 2021 as part of the war on the COVID-19 pandemic. In Russia, the drug trials were supported by a couple companies, including the ChemRar Group and RDIF who led local production of the drug. Apparently, ChemRar Group combines R&D services, drug development investment, manufacturing and commercialization to help improve care and prevent life-threatening diseases in Russia and abroad. Investment fund RDIF owns 50% of drug maker ChemRar and helped fund the studies, totaling about 300 million rubles ($4.3 million).
add to favorites Evaluating Favipiravir For COVID 19 Boats 2020-06-23
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Evaluating Favipiravir For COVID 19 Dr. Armand Balboni, CEO of Appili Therapeutics has announced that his company is working with FUJIFILM Toyama Chemical on its favipiravir treatment, which is approved in Japan as an antiviral drug, on a new front for the drug — the global search for a pandemic treatment that can both prevent and treat COVID-19.To get more news about https://www.apicmo.com/product/259793-96-9/ Favipiravir, wisepowder official website is the best place for you. Appili Therapeutics will sponsor the first clinical trial, phase 2, evaluating favipiravir for the prevention of COVID-19, as it has shown early efficacy against this disease. Appili is working with Canadian government agencies and infectious disease specialists to conduct the clinical trial at multiple long-term care facilities across Ontario. Dr. Balboni worked with the drug when he was with the US department of defense and with the FDA during the pandemic flu and Ebola outbreaks. The treatment is administered orally, and not by injection, making it easier on patients. The last decisive Russian Ministry of Health-approved clinical trial included 330 patients and is led by I.M. Sechenov First Moscow State Medical University, Lomonosov Moscow State University and other centers. Based on recent news out of Russia, after just ten days into the study the drug evidenced safety with no new side effects or adverse events. The drug has showed a median cut of the median duration of the illness by over half from 9-days with standard therapy down to 4-day with the investigational drug Avifavir. With an 80% efficacy and evidence of high antiviral effect, Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), reported, “It was developed and tested in clinical trials in Russia in an unprecedented short period of time, enabling Avifavir to become the first registered drug based on Favipiravir in the world.” A review of Clinicaltrials.gov reveals at least 20 ongoing or planned clinical trials involving the use of Favipiravir in association with COVID-19 patients.
add to favorites Glenmark gets regulatory approval for Favipiravir to treat Covid-19 Boats 2020-06-23
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India-based Glenmark Pharmaceuticals has secured regulatory approval for the manufacturing and marketing of antiviral drug Favipiravir under the brand name FabiFlu to treat mild to moderate Covid-19.To get more news about Favipiravir, wisepowder official website is the best place for you. The approval, granted under an accelerated process, marks the first authorisation for oral Favipiravir in India for this indication. Since 2014, Favipiravir holds approval in Japan to treat new or re-emerging influenza virus infections. In cells, the drug is converted into an active phosphoribosylated form (favipiravir-RTP), which is identified by viral RNA polymerase as a substrate, in turn blocking RNA polymerase activity. Glenmark developed the active pharmaceutical ingredient (API) and the formulation for the drug in-house. The company then applied for and obtained regulatory approval to assess the drug in Phase III trials for mild to moderate Covid-19. According to the company, Favipiravir demonstrated promising clinical evidence, with positive results in mild to moderate Covid-19 cases. Clinical improvement was observed in age groups of 20 to >90 years. The drug is said to provide rapid decrease in viral load within four days, along with quicker symptomatic and radiological improvement. Favipiravir demonstrated up to 88% of clinical improvement in patients with mild to moderate Covid-19. Glenmark said that mild to moderate Covid-19 patients with co-morbid conditions such as diabetes and heart disease can also use the drug.Glenmark Pharmaceuticals chairman and managing director Glenn Saldanha said: “FabiFlu has demonstrated an encouraging response in mild to moderate Covid-19 patients during clinical trials. Moreover, it is orally administered, and so it serves as a more convenient treatment option over other intravenously administered medications. “Glenmark will work closely with the government and medical community to make FabiFlu quickly accessible to patients across the country.”
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add to favorites Longevity Vitamins L-Ergothioneine (EGT) Boats 2020-06-19
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Longevity Vitamins L-Ergothioneine (EGT) L-Ergothioneine (EGT) also known as a “Longevity vitamins”. Longevity vitamins refer to nutrients including vitamins, minerals and other elements that are key to healthy aging. The list of longevity vitamins by Bruce Ames includes vitamin A, vitamin B1, vitamin B2, vitamin B6, vitamin B12, biotin, vitamin C, choline, vitamin D, vitamin E, folic acid, vitamin K, ergothioneine, niacin, pantothenate, calcium, chloride, chromium, cobalt, copper, iodine and iron among others.To get more news about https://www.wisepowder.com/l-ergothioneine-derived-antioxidant/ l-ergothioneine powder</a></b>, wisepowder official website is the best place for you. L-Ergothioneine is a powerful amino acid antioxidant that has been considered the “longevity vitamin.” Humans cannot synthesize L-Ergothioneine, so it must be obtained through the diet. L-ergothioneine powder is readily available supplement sold as a vitamin. Humans produce a highly specific transport protein for L-(+)-Ergothioneine (EGT) powder (497-30-3), which highlights its importance and makes it highly bio available and avidly retained, particularly in tissue where it plays a powerful and protective role.
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What Is Conjugated Linoleic Acid (CLA)? Conjugated linoleic Acid (CLA) is essentially a natural type of polyunsaturated, omega-6 fatty acid. The main dietary sources of conjugated linoleic acid are meat and dairy from ruminants such as cows, goats and sheep.To get more news about https://www.wisepowder.com/conjugated-linoleic-acid-benefits/ Conjugated Linoleic Acid</a></b>, wisepowder official website is the best place for you. The total amount of CLA in the diets depends on what the animals are fed on. A higher level of conjugated linoleic acid is found primarily in meat and dairy from grass fed cows than grain fed cows. Conjugated linoleic acid (CLA) (2420-56-6) is considered a healthy fat and believed to posses many health benefits. However, conjugated linoleic acid (cla) supplements are artificially produced by chemically altering the linoleic acid in vegetable oils. It is for this reasons that CLA supplements are said that they may pose a health risk.