Berkshire Hathaway's vice chair Charlie Munger, a longtime friend of Warren Buffett, is a fan of China. He even praised the crackdown on Jack Ma in an interview with @cnbc @BeckyQuick My story on that. $BRK.B $BABA cnn.it/3h5e7CY
In June, so-called retail investors bought nearly $28 billion of stocks and exchange-traded funds on a net basis, according to data from Vanda Research’s VandaTrack, the highest monthly amount deployed since at least 2014. That even trumped the amount retail traders spent in January during the first meme-stock frenzy.
The activity underscores the enduring influence of ordinary investors in markets. When the Covid-19 pandemic ushered in a wave of first-time traders, many market observers suspected these investors would retreat when the economy reopened.
Instead, individual investors have grown in number: More than 10 million new brokerage accounts are estimated to have been opened in the first half of this year, according to JMP Securities. That is around the total for all of 2020.
Retail investors’ enthusiasm is in contrast to professional money managers’ growing unease about the market’s outlook. This has risen as markets on the surface appear placid, but volatility has grown around individual stocks.
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05 July, 2021 - 10:01am
To combat summer spikes, the White House announced Thursday it will send out "surge response teams" to aid in nationwide vaccination efforts.
About 1,000 counties in the U.S. have vaccination coverage of less than 30%, and they're concentrated primarily in the Southeast and Midwest, Centers for Disease Control and Prevention Director Rochelle Walensky said Thursday.
In Nevada, Gov. Steve Sisolak asked the federal government for Federal Emergency Management Agency assistance in response to a wave of COVID-19 cases. The state currently has the highest weekly case rates per capita in the country, with 109 cases per 100,000 residents, according to CDC data.
Nevada reported 543 new cases, most from Clark County, and 11 new deaths on Thursday. The last time the state reported 11 deaths was near the end of April, per CBS affiliate KLAS.
The Silver State has a 14-day test positivity rate of 5.8%, which is above the World Health Organization's goal of 5%, and hospitalizations have doubled in the month of June, according to state data.
So far, 45% of Nevada's population has initiated vaccination and 38% of the population is fully vaccinated.
However, the state's vaccination rate has steadily decreased throughout June to a 7-day moving average of 5,471 shots being administered, a drop from 25,000 administered in mid-April. The plunging rate comes in spite of incentive efforts like the state's $1 million grand prize lottery for the vaccinated.
Now the state is scrambling to deploy mobile vaccine units, create new testing and vaccination sites, and increase community outreach and education efforts.
"The COVID-19 vaccines are highly effective at reducing the severity of cases, hospitalization and deaths and we must continue to leverage resources at the federal, state and local level to increase access and confidence and get as many Nevadans protected from this deadly virus as possible," Sisolak said in a press release Thursday.
Hospital admissions have increased significantly over the last two weeks in some states, up 79.3% in Arkansas and 104% in Nevada. Missouri has the country's highest rates of inpatient and intensive care unit COVID-19 occupancy, with approximately 700 patients receiving care, according to the CDC.
Arkansas, which never issued an official stay-at-home order during the pandemic, reported 686 new probable and confirmed COVID-19 cases Wednesday -- the largest one-day increase in more than four months.
In Missouri, Gov. Mike Parson has asked for help from federal "surge response teams" to deal with the mounting number of COVID-19 cases in the state.
Missouri follows Nevada with the second-highest weekly case rates per capita in the country, at 102 cases per 100,000 residents, per the CDC.
There were more than 115,000 new COVID-19 cases in Missouri in June alone, per state data. It's a major reversal of the progress reported in May, which marked the first time the state recorded less than 10,000 new cases in a month since June 2020, NBC affiliate KSHB reported.
Three counties in the St. Louis region have issued public health advisories, citing the spread of new delta variant cases, urging the public to wear masks indoors, even if vaccinated. In their advisory, local health departments said to assume one in three people in any gathering may be unvaccinated.
Over the last two weeks, cases in Jefferson County increased 42%, with the highest number of cases in the 10- to 19-year-old age group.
"This is concerning since most of that age group is eligible for the vaccine, but only 10.82% have completed the full series of vaccination," the county said in an advisory.
So far, 39.1% of the state population has completed the vaccine series and 44.5% have initiated vaccination, per state data.
Similar COVID-19 turmoil is brewing in Los Angeles County, California.
The county reported 506 new cases on Thursday -- the highest daily number since mid-April. That's more than double the number reported on June 15, when the state and county lifted COVID-19 restrictions, according to the county's coronavirus tracker.
Between last week and this week the number of delta variants sequenced doubled to a total of 245 cases -- 47% of all sequences reported, health officials said Thursday. So far, among LA County residents 16 and up, 59% are fully vaccinated, according to county data.
County Public Health Director Dr. Barbara Ferrer said in a press conference Thursday the rise in COVID-19 infections and deaths is increasingly affecting communities of color, where vaccination rates remain the lowest.
She also said there's concern among locals between 18 to 49, though vaccination is increasing slowly among that demographic.
The county has also rolled out its own incentives: offering tickets to Six Flags, the zoo and museums to vaccinated adults.
ABC News contributor John Brownstein, an epidemiologist and professor at Harvard Medical School, said it's no surprise there are hotspots today.
"The rollout has not gone as well in every community. When you have under-vaccinated populations mixed with those who have maybe not experienced surges, you don't have a combination of both vaccine-induced immunity and natural immunity, you're going to see cases increase," he said. "And because we have the most transmissible variant, the delta variant, it's not unexpected that we'll see increases in cases."
Brownstein noted reasons for the surges include a lack of access to vaccine and vaccine confidence and the low vaccination rates among the young.
"On one hand those populations may not see the value of vaccine because they may think that they're invincible or may not have a perceived risk of infection," he said. "There's also the challenge of making sure the parents are on board with vaccinating their kids -- you have the consent issue."
More than a week after the building collapse in Surfside, Florida, 24 people have so far been confirmed dead, with 126 still unaccounted for. As search and rescue crews race the clock to retrieve survivors and remains, they've had to contend with several barriers: falling debris, a tropical storm looming off the coast and limited time to recover hope from the rubble. Undeterred, rescue workers in Florida have worked tirelessly, already moving millions of pounds of debris, with teams working up to 12-hour shifts every day -- putting their own safety on the line, and with their own skin in the game.
Officials in Georgia are searching for a serval, an exotic wild cat native to Africa, after a woman claimed it appeared in her house and jumped onto her bed while she was sleeping. On Wednesday evening, a resident called Fulton County Animal Services reporting that a large wild cat entered her bedroom. No one was hurt and her husband snapped a photo of the serval and shared it with state authorities, according to local Georgia ABC affiliate WSB-TV.
Air travel continues to soar past pre-pandemic levels, as passengers contend with long waits, lines and cancellations this Fourth of July holiday. The Transportation Security Administration (TSA) reported it screened 2,196,411 people nationwide Friday, for the highest throughput since the start of the pandemic. The record comes a day after air travel exceeded pre-pandemic levels for the first time.
The death toll of the 12-story residential building that partially collapsed in South Florida's Miami-Dade County last week has risen to 24, leaving 124 unaccounted for, officials said Saturday morning. Approximately 55 of the oceanfront complex's 136 units were destroyed, according to Miami-Dade Fire Rescue Assistant Chief Raide Jadallah. Two more bodies were pulled from the rubble overnight, Miami-Dade County Mayor Daniella Levine Cava said in a press briefing Saturday, as the rescue effort entered its 10th day.
Elsa, the first hurricane of the Atlantic season, has weakened to a tropical storm as it closes in on Haiti and the Dominican Republic. After lashing Barbados with strong winds and heavy rain Friday, the storm weakened as it approached the southern coast of Hispaniola, with maximum sustained winds dropping to 70 mph. The storm's center was about 40 miles south of Isla Beata, Dominican Republic, as of mid-morning Saturday. Elsa is expected to deliver bands of heavy rain and strong, gusty winds to Haiti and the Dominican Republic in the coming hours, as it moves west-northwest at 29 mph.
A bizarre incident unfolded Saturday morning in Wakefield, Massachusetts. According to local police: "during a motor vehicle stop, several heavily armed men claiming to be from a group that does not recognize our laws exited their vehicles and fled into the woodline" near Interstate Highway 95. The incident unfolded around 1:30 a.m. when a state trooper came across a group of 8 to 10 people refueling on the side of the I-95 highway in Wakefield, a suburb of Boston.
Illustrious French automaker Bugatti has been building powerful race cars since 1909. There are no plans to replace the marque's deafening, rocket-like, quad-turbo 16-cylinder engines with electric motors. Volkswagen AG, the automotive conglomerate that owns Bugatti, has recently ramped up its electric vehicle efforts and reportedly may find a new owner for the brand.
An American corporate lawyer convicted of assaulting a police officer in Hong Kong during a period of citywide unrest about 18 months ago is to be sentenced July 6. Samuel Phillip Bickett, 37, has been in custody since July 22, when a Hong Kong magistrate found him guilty of assaulting Senior Constable Yu Shu-sang in December 2019. Bickett was denied bail.
For decades, beginning in the 1800s, thousands of Indigenous peoples from Canada were taken from their homes and families by the Canadian government, shipped thousands of miles away in some cases and placed into so-called residential schools. The stated purpose of the schools, some of which date to the 19th century and the last of which closed in the 1990s, was assimilation -- ridding the students of ties to their communities and instilling European culture, according to the Truth and Reconciliation Commission of Canada (TRC). There were reports from the TRC -- a commission funded by the Canadian government as part of a legal settlement to address the wrongs of the system -- of thousands of instances of abuse and mistreatment against students and many of the students did not make it back to their homes in what advocates for the Indigenous population and officials alternately term "injustice," "systemic racism" or even "genocide."
K-pop's growing global presence -- and subsequent success -- in the music industry has led to a national recognition in South Korea of K-pop as a potential growth industry, alongside the likes of semiconductors and IT that South Korea has proven to be globally competitive. When K-pop boy band BTS topped the Billboard Hot 100 chart last summer with their first all-English single "Dynamite," South Korea's Ministry of Culture, Sports and Tourism published an analysis report estimating that the economic ripple effect of the song "Dynamite" alone earned up to $1.5 billion dollars for the country.
The planet is losing an estimated 137 species of plants, animals and insects every day due to deforestation, according to the World Animal Foundation. Here are four important species at risk of extinction, each in a region heavily affected by deforestation. Populations of the harpy eagle, one of the largest eagle species in the world, are dwindling as tree canopies in the Amazon rainforest disappear, and along with it the habitat for the eagles' preferred prey, a new study published Wednesday in Nature Scientific Reports found.
Two months after President Joe Biden pleaded with the nation to "bring it home" and stomp out the virus, the U.S. has officially fallen short of his goal to fully immunize 160 million Americans and to ensure 70% of adults get at least one shot by the Fourth of July. "I am not concerned there's going to be a major outbreak – in other words, that we’re going to have another epidemic nationwide," Biden told reporters on Friday. The White House this weekend is planning to celebrate anyway, hosting a barbecue on its South Lawn on Sunday with 1,000 first responders and military personnel.
Three Honolulu police officers involved in the fatal shooting of Lindani Myeni, an unarmed South African rugby player, will not face criminal charges, according to the Department of the Prosecuting Attorney. Honolulu prosecuting attorney Steven S. Alm announced Wednesday that the officers were justified in using deadly force because Myeni, who is Black, refused to comply and attacked the officers. Alm did not name the officers involved in the shooting.
Hurricane Elsa, the first of the Atlantic season, could take many paths when it reaches the United States, from the East Coast to the Gulf Coast to Florida -- including Surfside, where rescue operations are ongoing following last week's condo collapse. Any potential impacts from Elsa are much lower than 24 hours ago, but the chance for heavy rain, gusty winds and scattered thunderstorms remain. Elsa continues to race across the eastern Caribbean Sea as a Category 1 hurricane with maximum sustained winds of 85 mph. Friday evening it was moving very quickly to the west at 30 mph.
Wildfire scientists and fire officials are pleading with people to forego fireworks this Fourth of July, as unprecedented heat waves and drought conditions have elevated fire risk in the western United States. "We urge people to skip the fireworks this July 4th and to avoid other activities that could start an unintentional wildfire," the letter stated. "This will be critical for a safe Independence Day holiday, good practice for the rest of the fire season, and one way we can adapt to more safely live in increasingly flammable landscapes."
After 15 years of crafting chart-topping hits, garnering seven Grammys and captivating country music fans, Lady A is evolving with the recently released "What a Song Can Do (Chapter 1)." "We've grown so much," Charles Kelley told "Good Morning America" on Friday. Kelley, 39, said the trio -- formed in 2016 along with Hillary Scott and Dave Haywood -- has done "so much good" with their philanthropic initiative, LadyAID, and spread "a good message of love" with their songs.
Amber Heard surprised fans on Thursday with the news that she is now a mom. The "Aquaman" actress took to Instagram to announce the birth of her daughter, Oonagh Paige Heard, on April 8, 2021. The newborn appears to be named after Heard's mother, Paige, who died in 2020.
President Joe Biden has announced his support for the recommendation that prosecution of sexual assaults and sexual harassment cases be removed from the military chain of command in favor of independent prosecutors to handle those cases. Recommended by an independent civilian panel that looked at sexual assault in the military, the change has been long been supported by advocates for sexual assault victims who say it will improve the handling of sexual assault allegations. Defense Secretary Lloyd Austin had already announced that he backed the same recommendation made by the Independent Review Commission on Sexual Assault on the Military when the group presented him with recommendations.
Thursday marked a major pandemic milestone -- air travel exceeded pre-pandemic levels for the first time as people took to the skies for the July 4th holiday. The Transportation Security Administration (TSA) reported it screened 2,147,090 nationwide Thursday, surpassing the checkpoint volume for the same day in 2019 by 58,330. Domestic destinations like Las Vegas, Miami and Orlando are the most popular, according to the travel booking site Hopper.
Two years ago, California became the first state to pass a law banning natural hair discrimination. To commemorate, July 3 has been declared National Crown Day to celebrate the day the CROWN Act (Create a Respectful and Open Workplace for Natural Hair) legislation was signed into law. On Saturday, the Crown Coalition and personal care brand Dove will host the inaugural CROWN Awards honoring Black women paving the way with contributions to culture, community, entrepreneurship, entertainment, the advancement of Black beauty and ultimately Black hair independence.
05 July, 2021 - 10:01am
05 July, 2021 - 10:01am
05 July, 2021 - 10:01am
The American billionaire Warren Buffett, known as the ‘Oracle of Omaha’, is sure that in the future a new pandemic will come that could be worse than that of COVID-19 , because despite the lessons that this experience has left us, people would not be prepared to face it either.
This week, during CNBC’s ‘Buffett & Munger: A Wealth of Wisdom’ show, the CEO of Berkshire Hathaway predicted that “there will be another pandemic .”
“We know that there is a nuclear, chemical, biological and now cyber threat. Each of them has dire possibilities , “Buffett said. ” It doesn’t seem like it’s something that society is fully prepared to deal with, “he added.
The businessman, who ranks ninth in the Forbes billionaire ranking, revealed that the main lesson that the coronavirus has taught him is that the world is not prepared to deal with emergency situations.
“I learned that people don’t know as much as they think they do. But what is most learned is that the pandemic could be seen coming , and that this is not the worst that can be imagined , “said the 90-year-old magnate. “Society has a hard time preparing for remote situations, which are possible and will happen sooner or later .”
In the same program, the businessman affirmed that the economic consequences of COVID-19 are falling disproportionately on small businesses, since the impact has been extremely uneven. “Many hundreds of thousands or millions of small businesses have been hurt terribly,” he said.
The billionaire noted that the pandemic “is not over,” but that most companies are doing well. In particular, he referred to the automotive companies, for which, in his opinion, the virus was “a fabulous success that they did not anticipate” , recalling that the sector has registered record profits thanks to the reopening and the reduction in supply derived from chip shortage.
“(The pandemic) has been very unpredictable, but it has worked better than expected for most people and most companies. And simply, through no fault of their own, it has decimated all kinds of people and their hopes, “he added.
The iconic investor acknowledged that he did not also have moments of financial uncertainty, as he did not know what was going to happen to his airlines BNSF Railway and NetJets . However, amid all the chaos, he focused on supporting other companies so that they would not have to resort to government aid to survive. “We remind them that they had a rich brother ,” said the millionaire.
04 July, 2021 - 09:58pm
Warren Buffett calls independence to associate with people you want to associate as 'one of the luxuries of life'
Legendary investors Warren Buffett and Charlie Munger are enormously popular amongst almost everyone who invests or trades in equities. Markets don't only look up to their position sizing in various companies, the nonagenarian billionaires are also followed for their opinion on things that are not only limited to financial transactions.
In an interview with CNBC recently, Buffet said, “We made a lot of money but what we really wanted was independence," adding that the independence for them is the "freedom to choose who they associate with on a day-to-day basis."
Warren Buffett calls independence to associate with people you want to associate as“one of the luxuries of life."
"And we have had the ability since pretty much a little after we met financially we could associate with people who we wanted to associate with," Buffet said.
“What’s really great is if you can do what you want to do in life and associate with who you want to associate in life, and we’ve both had that spirit all the way through"
On being asked what characteristics he looks for in a business partner, Buffett gave an example of his first meeting with Munger at a dinner table. Buffett and Munger have been friends for more than six decades.
“I knew after I met Charlie, after a few minutes in the restaurant, I knew that this guy’s going to be in my life forever. [I knew] we were gonna have fun together, we were gonna make money together, we were gonna get ideas from each other [and] we were both going to behave better than if we didn’t know each other," Buffett said.
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Warren Buffett and Bill Gates met on 4th of July weekend 30 years ago. Here's how their iconic friendship began.
04 July, 2021 - 12:48pm
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04 July, 2021 - 03:13am
The billionaire affirmed that the economic consequences of COVID-19 are falling disproportionately. He noted that many hundreds of thousands or millions of small businesses have been hurt terribly. Buffett said that the economic impact has been this “extremely uneven” and added that most of the big companies have “overwhelmingly done fine”. He noted that the pandemic "is not over," but that most companies are doing well.
Further, Buffett referred to the automotive companies and said that the virus was "a fabulous success that they did not anticipate". He recalled that the sector has registered record profits thanks to the reopening and reduction in supply derived from chip storage. It is worth noting that according to a report by CNBC, with the shutdown of factories and global shortages of semiconductors, the automakers and dealers saw a tremendous surge.
Buffett even made it clear that he also faced financial uncertainty of his own, as no one was sure what was going to happen to his airlines BNSF Railway and NetJets in terms of demand. However, despite all the uncertainty and chaos, Buffett was determined to shift the focus to the industry and helping other companies stay afloat so that they did not have to rely on the government for aid. "We remind them that they had a rich brother," said the millionaire.
02 July, 2021 - 02:00pm
Ninety-year-old investing sage Warren Buffett would wonder what you're waiting for.
He told attendees at Berkshire Hathaway company's May annual meeting in Los Angeles that 2021 holds great opportunities for borrowers, thanks to the Federal Reserve’s commitment to keeping its key interest rate near zero.
"The economy went off a cliff in March ,” Buffett said. “It was resurrected in an extraordinarily effective way by Federal Reserve actions."
Mortgage rates have fluctuated this year, but they’re still low enough that you could save hundreds of dollars a month by refinancing your mortgage.
To shore up the economy during the coronavirus crisis' onset, the Federal Reserve last year slashed a key interest rate nearly to zero. More recently, Fed officials signaled they'll keep rates at next to nothing until 2023.
“It’s a fascinating time [for borrowers],” Buffett told investors, adding the low-rate environment "is enormously pleasant."
While Buffett hasn't figured out a way to borrow at 0% interest (at least not yet) his Berkshire Hathaway holding company did come close last year as it benefited from the Fed's low-rate environment.
In April 2020, Berkshire said that through a bond offering priced in Japanese yen, it was taking on the equivalent of over $1.8 billion in debt — at rates ranging from 2% to a mere 0.674%.
You won't find 30-year mortgage rates that low, but 30-year fixed-rate mortgages right now are averaging 2.98%. Despite recent increases, rates are still historically low.
During a 2017 CNBC interview, Buffett called the 30-year mortgage "the best instrument in the world" — because of your ability to refinance when you find a lower rate.
"If you’re wrong and rates go to 2%, which I don’t think they will, you pay it off," he said at the time. "It’s a one-way renegotiation. It is an incredibly attractive instrument for the homeowner and you’ve got a one-way bet."
And remember, Buffett knows a few things about the housing market. Aside from his company's investments in energy, insurance and telecom, Berkshire also owns HomeServices of America, the largest residential real estate brokerage in the U.S., according to RealTrends.
Many households have been seizing on the low home-loan rates. In late January, Americans were applying for refinance mortgages at the strongest clip since last March, though that pace has been slowing, according to the Mortgage Bankers Association.
At current rates, an estimated 14.1 million homeowners are sitting on loans they could refinance to cut their monthly costs by an average $287, the mortgage technology and data provider Black Knight recently reported.
You could use your savings to invest — maybe with the help of a popular app that lets you grow your portfolio using just "spare change."
Still on the fence about a refi? You're in a good position to do that if you currently have a 30-year mortgage at around 3.9% or higher, and if your credit score is exceptional (800 or higher) or very good (740 to 799).
When Buffett says it's a good time to borrow money, maybe it's time for you to cut down the cost of your mortgage.
First up is cryptocurrency exchange and ecosystem Coinbase Global (NASDAQ: COIN). Coinbase is popular given how quickly its revenue and profits surged in the first quarter as investors piled into the likes of Bitcoin and Ethereum. To start with, there's nothing that prevents competing exchanges from undercutting Coinbase Global's fees.
No need to check his 401k or social security before retiring. Jeff Bezos, who steps down Monday as Amazon’s CEO, is the world’s richest person.
Income seekers will net anywhere from 7.5% to nearly 10% annually with these top-tier dividend stocks.
Despite good long-term growth prospects for memory demand, Micron trades at an enormous discount to the market and especially other tech stocks – even peers in the volatile semiconductor sector. Case in point: Micron's recent earnings report, in which the company posted stellar numbers across the board, while also giving solid guidance. Memory crashes tend to happen when the industry overinvests in supply when demand is good and memory prices are rising, only to have too much capacity when demand hits an air pocket and pulls back.
Using technical analysis of the charts of those stocks, and, when appropriate, recent actions and grades from TheStreet's Quant Ratings, we zero in on five names. While we will not be weighing in with fundamental analysis, we hope this piece will give investors interested in stocks on the way down a good starting point to do further homework on the names. Cohu Inc. recently was downgraded to Hold with a C+ rating by TheStreet's Quant Ratings.
Shares of Restaurant Brands, the parent of Burger King and Popeyes, have underperformed this year, but new director Marc Lemann bought up stock.
In this article, we will take a look at the 12 best environmental stocks to invest in. You can skip our comprehensive analysis of these companies and go directly to the 5 Best Environmental Stocks to Invest In. Apart from fighting a pandemic, the world is also facing the existential crisis of climate change. Deloitte mentioned […]
The guru behind ARK Invest is bullish on these tech stocks -- and long-term investors should be too.
(Bloomberg) -- As stocks around the world continue to smash one record after another, some of the world’s biggest money managers have a simple message: Get used to it.The likes of BlackRock Inc., State Street Global Markets, UBS Asset Management and JPMorgan Asset Management expect equity markets to keep rising in the second half of the year, with many investors increasingly looking outside the U.S. for more returns.Globally, the asset class’s allure amid a continued economic rebound is proving
In this article, we discuss the 10 best stocks to buy according to billionaire Brian Higgins. If you want to skip our detailed analysis of Higgins’ history and hedge fund performance, go directly to the 5 Best Stocks to Buy According to Billionaire Brian Higgins. Brian Higgins founded King Street Capital Management in 1995 with […]
Dogecoin's (CRYPTO: DOGE) once seemingly unstoppable ride "to the moon," spurred on by the likes of Elon Musk and Mark Cuban, has been knocked off course in the last month. The meme coin is currently down some 68% from all-time highs reached in May. There's no saying whether the fire beneath Dogecoin will be relit -- and when it will happen if so. If you're looking to hedge your bets with other investments that could skyrocket higher, these three Fool.com contributors think Upstart Holdings (NASDAQ: UPST), Newegg Commerce (NASDAQ: NEGG), and Tencent Holdings (OTC: TCEHY) are worth a serious look instead of the cryptocurrency famous for its Shiba Inu mascot.
MUTUAL FUNDS WEEKLY Don’t miss these top money and investing features: These 15 stocks — June’s biggest losers — could become July’s winners Here’s what inflation’s spike means for stocks now Why ...
The number of coins held on exchanges has fallen by more 25,000 in two weeks.
How about a good dividend stock with a high yield that is also ridiculously cheap, with the potential to deliver solid earnings growth and above-average returns? Here are two stocks I see as excellent choices: Prudential Financial (NYSE: PRU) and Citigroup (NYSE: C). Prudential Financial is known as one of the largest life insurance companies in the U.S., but it has three primary revenue streams.
As rates retreat beneath the "magic number," millions of homeowners can save big.
(Bloomberg) -- Central banks may be regaining their appetite for buying gold after staying on the sidelines for the past year.Central banks from Serbia to Thailand have been adding to gold holdings and Ghana recently announced plans for purchases, as the specter of accelerating inflation looms and a recovery in global trade provides the firepower to make purchases. A rebound in buying -- which had dropped to the lowest in a decade -- would bolster the prospects for gold prices as some other sour
The current memory up-cycle still has a ways to go. And with Micron's stock having tread water for several months, its risk/reward looks compelling.
As firework volleys launched out of New York City harbor last night, a very different celebration was likely taking place just a few blocks down the street at Verizon’s official headquarters in Midtown. The telco, which owns TechCrunch for hopefully just a few more weeks pending the close of the Apollo acquisition of our parent company Verizon Media, announced overnight that it had signed an agreement with Z Holdings, a division of Japan’s SoftBank Group, to sell trademarks within the Japan market around the Yahoo brand and related tech infrastructure for approximately $1.6 billion. The extremely descriptive Z Holdings owns SoftBank’s internet businesses in Japan, most notably Yahoo Japan, whose web portal remains the country’s most trafficked news website.
02 July, 2021 - 12:00pm
So, it’s no surprise that Warren Buffett has had the same credit card since 1964 — an American Express card.
“I probably carry $400,” Buffett told Yahoo Financial a few years back. “My wife likes to use cash, so I just take home a chunk of cash every now and then and then she doles it out.”
Back in the late ’90s, Buffett gave a now oft-quoted graduation speech to Omaha high school students. In it, he laid down some heavy words: avoid credit cards; just forget about them.
It seems simple enough. But, as oracles often do, Buffett was implying more than he was saying. Later in the speech (and in his words since then), Buffett has clarified his words. He didn’t mean we should avoid credit cards per se. He meant we should avoid credit card debt.
Compound interest, Buffett explained, can work in two ways: for you or against you. When you’re earning 20% on your investments, expect to retire early. If you’re paying 20% on your credit card debt to a credit card company, well, you’re going to get behind in life.
He’s right, of course (come on; it’s Warren Buffett). If you don’t pay your card’s statement balance in full every month, you’ll pay high interest charges, often 20-30%. The rate is high enough. But it’s the compounding factor that makes credit card debt so dangerous.
On day one, you’ll accrue interest on unpaid charges. By day two, you’ll accrue interest on unpaid charges plus the interest you accrued the day before. On day three, you’ll accrue interest on unpaid charges plus the interest you accrued the previous two days. It’s an investment in reverse: your balance grows larger and larger the longer you wait to pay off your balance.
Credit cards aren’t inherently bad. What makes a credit card bad is the person using the credit card irresponsibly.
Again, you only pay high interest charges when you carry a balance on a credit card. If you charge only what you can afford, and if you pay your statement in full by the due date, you won’t pay a dime in interest. For Canadians who don’t go trigger happy on the spending, a credit card can be an effective tool.
For one, it can help you build a strong credit score. This is especially true for Canadians with bad or fair credit. If you made mistakes in the past, a good secured credit card is one of the most powerful tools to help you rebuild what you’ve broken. You give the credit card provider an initial deposit (usually equal to your credit limits), and you get a chance to prove you’re a good borrower.
But let’s say your credit card mistakes are still haunting you. Let’s say you’ve maxed out a card, and you’re accumulating interest charges at an alarming rate.
Well, in that case, you can use a balance-transfer credit card to get out of the debt hole. With these cards, you transfer a balance from a card with a high interest to a second card with a significantly lower promotional APR. The promotional APR doesn’t last forever, but if you can pay your debt within the promo period, you’ll save a ton in interest charges.
Finally, if your credit score is good or excellent, rewards cards and cash-back cards can help you snag lucrative bonus offers, miles, and cash-back rewards. It’s one of the easiest ways to earn some extra money: as long as you pay off your balance, you’ll make money as you spend money. Not even Buffett could argue against that.
Hoshiarpur (Punjab) [India], July 5 (ANI): Punjab Police on Sunday arrested 4 four Afghan nationals, and seized 17 kg heroin worth Rs 90 crore from a unit in South Delhi.
Suncor stock is up more than 35% this year. Are more big gains on the way? The post Should You Buy Suncor Stock (TSX:SU) Right Now? appeared first on The Motley Fool Canada.
For decades Amazon (NASDAQ: AMZN) has been investing heavily into its expansion from a small book retailer when it started to the global everything store it is today. Several big retailers no longer in existence today can partly blame Amazon for their demise. Walmart (NYSE: WMT) is not taking Amazon lightly.
Converting agricultural land to forestry would boost summer rains by 7.6% on average, a study finds.
This England team has taken on challenges that go way beyond sportNo matter what happens in the semi-final, the players’ stand against inequality and racism should be lauded ‘This England team have shown us the meaning of true unity.’ England players celebrate after Jordan Henderson’s goal against Ukraine in Rome on Saturday night. Photograph: Eddie Keogh/The FA/Getty Images
In last week's article on three stocks to avoid, I predicted that Norwegian Cruise Line (NYSE: NCLH), Walgreens Boots Alliance (NASDAQ: WBA), and Osprey Bitcoin Trust (OTC: OBTC) would have a rough few days. Walgreens Boots Alliance slipped 8%. Just as its rival tumbled after posting disappointing guidance a week earlier, this drugstore chain also put out poorly received quarterly results.
The seamer was back in four-day action for Lancashire at Old Trafford.
DUBLIN, July 05, 2021--The "Global Commercial Cooking Equipment Market 2021-2025" report has been added to ResearchAndMarkets.com's offering.
Chinese regulators have gained a reputation for aggressive action, but even hardened investors were shocked by the announcement of a probe into ride-hailing firm Didi just two days after its $4.4 billion New York stock market debut. While Didi's initial public offering (IPO) prospectus did mention some of the regulatory risks to its operations, there was no indication that the Cyberspace Administration of China (CAC) would begin investigating the company and ban it from accepting new users during the review. Didi said on Monday it was not aware of the probe announced by the CAC on July 2, which sent its shares as much as 10% lower, before its IPO.
Eighteen year-old Raducanu is Britain’s last hope in the singles and has always been ‘focused, determined and hard-working’ on and off the court.
Jabeur followed up victories over Venus Williams and Garbine Muguruza.
Patna (Bihar) [India], July 5 (ANI): The Bihar government on Monday announced further easing of COVID-induced restrictions on Monday.
Samsung, Sony, Nintendo, Apple, Xbox, Cuisinart, Hoover, Purell — save up to over 80 percent for the 4th of July!
Rural municipalities in northwest Saskatchewan are chasing after millions of dollars in unpaid taxes from struggling oil companies as prices rebound. They hope to recover the money as the West Texas Intermediate oil price fetches near $70 per barrel after cratering during the pandemic. If they can’t, rural ratepayers may be left holding the bag. Manitou Lake Reeve Brian Graham hopes to recoup $395,866 owed by five oil companies. His municipality is one of several in Saskatchewan that's out money
She said he's not who fans "expected" her to date—as if it's any of their business.
The head of the International Monetary Fund warned on Monday of a "dangerous divergence" between wealthy and developing countries as they seek to recover from the COVID-19 pandemic. Kristalina Georgieva said that strong growth in wealthy countries like the United States was "good news" but developing countries were being held back by slow vaccination rates. "That is danger for the coherence of growth and it is also a danger for global stability and security," she told the Paris Peace Forum where the heads of the World Trade Organization (WTO) and World Bank also spoke.
Three more bodies have been discovered at the site of Surfside condo collapse, raising the death toll to 27 as rescue crews resumed efforts Monday following the successful demolition of what was left of the remaining building.
A brand new laboratory has just been inaugurated at INÉDI, a Centre collégial de transfert de technologie (CCTT) in industrial design, affiliated with the Cégep régional de Lanaudière in Terrebone. Its main mandate is to conduct applied research projects with the objective to develop, optimize and validate innovative products that interact with the human body, particularly in the fields of adapted sport, technical aid and aging of the population.
The media watchdog received 390 complaints about a lockdown restrictions debate on its launch night.
Scientists have found a vast collection of more than 100 black holes inside our own galaxy. The black holes are sitting at the middle of a cluster of stars more than 80,000 light years from us. There are about three times as many of the black holes as scientists would usually expect to find.