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Warren Buffett's company boosted its cash pile by $60 billion in 15 months to a record $168 billion. The investor may be expecting stocks to dive and a recession to hit, top economist Steve Hanke said. Buffett hit out at rank speculation and gambling on stocks, and Hanke voiced similar concerns. AdvertisementWarren Buffett's massive war chest signals that he expects stocks to tumble and the economy to tank, Steve Hanke says. Hanke echoed Buffett's complaint in his latest shareholder letter about the rise of reckless speculation and casino-style gambling on stocks.
Persons: Warren, Steve Hanke, Buffett, Hanke, , Berkshire Hathaway, Johns Hopkins, Ronald Reagan, Goldman Sachs, Davidson, they've Organizations: Service, Johns, Toronto Trust, Buffett, Electric, Dow Chemical, Harley Locations: Berkshire, Toronto Trust Argentina
Warren Buffett's Berkshire Hathaway has built a record $157 billion pile of cash and Treasuries. Buffett is gearing up to snag bargains and strike deals once the economy weakens, Steve Hanke says. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . "This is classic Buffett," Hanke, a professor of applied economics at Johns Hopkins University, told Markets Insider in a recent interview. The Berkshire boss will profitably put his dry powder to work once the economy slumps, Hanke said.
Persons: Warren, Berkshire Hathaway, Buffett, Steve Hanke, Hanke, , Warren Buffett, they've, who's, Ronald Reagan, Goldman Sachs, Berkshire's, Lee Munson Organizations: Service, Johns Hopkins University, Fed, Toronto Trust, Electric, Dow Chemical, Swiss, Berkshire Locations: American, Toronto Trust Argentina, Berkshire
Warren Buffett and Michael Burry may be expecting a market downturn and recession, Steve Hanke says. Berkshire Hathaway sold a net $8 billion of stocks and added to its cash pile in the second quarter. Burry's Scion firm placed bets against the S&P 500 and Nasdaq-100 worth a notional $1.6 billion. Steve Hanke says the Berkshire Hathaway CEO and the investor of "The Big Short" fame are likely preparing for trouble. "It looks to me like Burry has made a good move," Hanke said about the Scion chief's latest big short.
Persons: Warren Buffett, Michael Burry, Steve Hanke, Berkshire Hathaway, Buffett's, Hanke, Buffett, Goldman Sachs, Davidson, Elon Musk's Tesla, Burry, Ronald Reagan Organizations: Scion, Nasdaq, Service, Berkshire, Johns Hopkins University, Toronto Trust, Electric, Harley, Scion Asset Management, Elon, & $ Locations: Wall, Silicon, Toronto Trust Argentina, Mars
Stocks look "pretty pricey" and a recession is "right around the corner," Steve Hanke told Insider. Hanke sees inflation cooling, 10-year Treasury yields falling, and house prices staying afloat. As for the housing market, Hanke noted there's a shortage of homes for sale. Steve Hanke is professor of applied economics at Johns Hopkins University. "With lower inflation and a recession right around the corner, I anticipate that the 10-year yields will come down and the gap will close," Hanke said.
Persons: Steve Hanke, Johns Hopkins, Hanke, Portia Crowe, Ronald Reagan, Price, bode Organizations: Treasury, Service, Johns Hopkins University, Toronto Trust, Federal Locations: Wall, Silicon, Toronto Trust Argentina
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