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Brimming with entrepreneurs and around 1,000 startup companies, it embodies France's exciting tech industry. So if you could rank Europe's tech hubs, what would be your top three? But I'm really excited about Lisbon actually, I know the Mayor of Lisbon pretty well, have been hearing really positive things. I mean things like that could just be completely deprioritized, which is essentially what has been helping us move things forward in France. Under Macron what have been for you the big positives that have come out of his presidency and tech push more broadly.
Persons: Tom Chitty, Roxanne Varza, Bruno Le Maire, Tom Chitty The, you'll, Arjun, I've, Roxanne, Macron, we'd, we've, Tom Chitty Let's, Xavier Niel, he's, Roxanne Varza That's, we're, I'm, Roxanne Varza Paris, Tom Chitty Arjun, Arjun Kharpal, What's, There's, you've, haven't, They're, Roxanne Varza Big, Tom Chitty U.S, Arjun Kharpal It's, who's, that's, there's, they've, we'll, Tom, Tom Chitty We'll Organizations: Meta, Google, CNBC, Uber, Accel, Dealroom, Mistral, Viva Tech, Sequoia Capital, Big Tech, Microsoft, French Finance, London Stock Exchange, London . Locations: Paris, France, French, Europe, beyondthevalley@cnbc.com, London, Berlin, U.S, Silicon Valley, Palo Alto, Bay, Amsterdam, Lisbon, Old, Shoreditch, London . Tel Aviv
Kinky Friedman, a singer, songwriter, humorist and sometime politician who with his band, the Texas Jewboys, developed an ardent following among alt-country music fans with songs like “They Ain’t Makin' Jews Like Jesus Anymore” — and whose biting cultural commentary earned him comparisons with Will Rogers and Mark Twain — died on Thursday at his ranch near Austin, Texas. The writer Larry Sloman, a close friend, said the cause was complications of Parkinson’s disease. Mr. Friedman occupied a singular spot on the fringes of American popular culture, alongside acts like Jello Biafra, the Dead Milkmen and Mojo Nixon. He leered back at the mainstream with songs that blended vaudeville, outlaw country and hokum, a bawdy style of novelty music typified by tracks like “Asshole From El Paso” and “We Reserve the Right to Refuse Service to You.”With a thick mustache, sideburns, a Honduran cigar and a broad-brimmed cowboy hat, he played his own version of Texas-inflected country music, poking provocative fun at Jewish culture, American politics and a wide range of sacred cows, including feminism — the National Organization for Women once gave him a “Male Chauvinist Pig Award.”
Persons: Kinky Friedman, Makin, Will Rogers, Mark Twain —, Larry Sloman, Friedman, Biafra, Mojo Nixon, , Organizations: Service, National Organization for Women Locations: Texas, Austin , Texas, Paso, Honduran
The 2023-24 Boston Celtics, newly crowned champions of the NBA, are a case in point. GO DEEPER Celtics beat Mavs, win 18th NBA championshipBut no team in Celtics history had to work to make it happen the way these guys did. THE BOSTON CELTICS ARE NBA CHAMPIONS 🏆🍀 pic.twitter.com/10iSWsN91P — The Players' Tribune (@PlayersTribune) June 18, 2024But the 2023-24 Celtics were more than those guys, even if those guys were the stars. Yes, the Celtics seemed poised to register a four-game NBA Finals sweep of the Mavericks until being blown out in Game 4 in Dallas. Celtics coach Joe Mazzulla kept saying, in so many words, “Don’t worry.” The result was an epic Garden party Monday night.
Persons: BOSTON — Long, Red Auerbach, Hoyo, Jayson Tatum, Paul Pierce, Brown, Larry Bird, Bob Cousy, Mavs, Tatum Organizations: BOSTON, Boston Celtics, Monterrey, NBA, Dallas Mavericks, Celtics, Miami, Eastern Conference, THE BOSTON CELTICS
Rep. Tom Cole's office has been a place for GOP lawmakers to smoke cigars and bond. But the Oklahoma Republican recently switched offices — depriving Republicans of their usual spot. "We desperately need a place to smoke cigars," said Cole. AdvertisementHouse Republicans are facing yet another crisis — but it's only tangentially related to the business of crafting and passing laws. They need a place to smoke cigars near the House floor.
Persons: Tom Cole's, Cole, , Tom Cole Organizations: GOP, Oklahoma Republican, Service, Business Locations: Oklahoma
Jose Uribe, the businessman who has said he bribed Senator Robert Menendez in return for his help in quashing a criminal investigation involving two people close to him, testified on Monday that he had asked the senator directly for his help and that Mr. Menendez had said he would “look into it.”Mr. Uribe said that on Sept. 5, 2019, the night before Mr. Menendez met with New Jersey’s attorney general to discuss the matter, he was invited to the senator’s girlfriend’s home in Englewood Cliffs, N.J., where he and Mr. Menendez sat on a backyard patio, with the senator smoking a cigar. Mr. Menendez rang a little bell that he had on the table, calling out “mon amour” — French for “my love” — and summoning Nadine Menendez, the woman he married the next year. Mr. Uribe said she brought him a piece of paper and went back into the house. At the senator’s request, Mr. Uribe wrote down the names of two friends and two companies he believed were under investigation. Mr. Menendez then took the paper, folded it and placed it in his pants pocket.
Persons: Jose Uribe, Robert Menendez, Menendez, Mr, Uribe, , Nadine Menendez Organizations: New Locations: quashing, Englewood Cliffs, N.J
Last season, the Gunners were edged out in the Premier League title race by five points. “I think we should be very proud of what we’ve done throughout this season, both in European competition and the Premier League. Champions League football has returned to the Emirates and so, too, has silverware. Catherine Ivill/ReutersYet it is the holy grail of the Premier League that he, the players, and the fans still so greatly crave. The former hinted after his latest league accomplishment that his stay in the Premier League is more likely than not to be drawing to a close.
Persons: Mikel Arteta, Pep, “ I’m, ” Arteta, Amanda Davies, , Arteta, Catherine Ivill, , Guardiola, Jason Cairnduff, he’d, that’s, We’ve, Glyn Kirk, Declan Rice, Kai Havertz, I’m Organizations: Italy CNN, Arsenal, Manchester City, Gunners, Premier League, CNN, Globe Soccer, Arteta, North London, Champions League, Emirates, City, Sky Blues, Barcelona’s, Guardiola, Getty Images, West Ham United, Chelsea, Ajax, it’s Locations: Sardinia, Italy, North, Catalunya, North London, Manchester, AFP, London
Warren Buffett's best return — on a percentage basis — was scored when he was starting out with little money seven decades ago. The Oracle of Omaha once vowed that he could easily produce a 50% annual return if he was only managing $1 million. "If I was running $1 million today, or $10 million for that matter, I'd be fully invested. At an early age, Buffett developed an extraordinary knack for picking cheap stocks, oftentimes troubled companies at deep discounts. You can't just be in love with the money, you've really got to just find it," he said.
Persons: Warren Buffett's, , I've, Dow, Berkshire Hathaway, Buffett, poring, Benjamin Graham, outsized, Charlie, Charlie Munger, you've Organizations: Berkshire, Moody's, Columbia University, BNSF Railway Locations: Omaha, Coast, Munger
JPMorgan said this regional bank is so appealing that it would have attracted attention from the late Charlie Munger. "When we think of the late, great Charlie Munger and his mantra to 'buy wonderful businesses at fair prices,' the bank that fits this bill in our view is Cullen Frost," the firm's bank analyst Steven Alexopoulos said in a note. However, JPMorgan said the bank's "strong organic growth story" remained fully intact. JPMorgan said investors are now able to buy the shares at 13.1 times forward earnings, compared to a 16X historical average. The bank maintained its overweight rating and has a 12-month price target of $140 per share, which would translate into 32% upside from Tuesday's close of $105.62.
Persons: Charlie Munger, Cullen Frost, Steven Alexopoulos, Munger, Buffett, Cullen, Frost, — CNBC's Michael Bloom Organizations: JPMorgan, Berkshire Hathaway's, CFR, Frost Bankers Locations: San Antonio , Texas
Trainer Todd Pletcher watches as Kentucky Derby entrant Fierceness works out on Kentucky Oaks Stakes Day, one day before the 150th running of the Kentucky Derby, at Churchill Downs in Louisville, KY on Friday, May 03, 2024. It's the 150th Kentucky Derby. Wet weather could benefit six horses that have won in the mud or slop before, including early favorites Fierceness and Sierra Leone. The Kentucky Derby winner earns $3.1 million from the record purse of $5 million. Trainer Todd Pletcher, who saddles Fierceness, is in the Kentucky Derby for the 24th year and it never gets old.
Persons: Todd Pletcher, Fierceness, Dan, John Velazquez, Peter Brandt, Larry Demeritte, Demeritte, Young, Wayne Lukas, Frankie Dettori, He's Organizations: Kentucky Derby, Kentucky Oaks, 150th Kentucky Derby, Society, Saratoga Locations: Kentucky, Churchill Downs, Louisville , KY, Churchill, Sierra Leone, Bahamas, Japan, Italian
London CNN —Last week, former UK Prime Minister Boris Johnson treated a Canadian crowd to a helping of his signature bombast. Second World War-era Conservative British Prime Minister, Winston Churchill, is also one of history's most famous cigar smokers. Central Press/Hulton Archive/Getty ImagesDespite what Johnson may have led his audience to believe, a potential smoking ban enjoys broad popular support in the UK. New Zealand’s conservative National Party introduced a similar phased smoking ban last year, but reversed it before it went into effect to help pay for tax cuts. Smoking costs the NHS an estimated £2.5 billion ($3.1 billion) every year, equivalent to 2% of the health service’s budget.
Persons: Holly Thomas, Katie Couric, London CNN —, Boris Johnson, Winston Churchill, , It’s, Rishi Sunak, Johnson, YouGov, Conservative backbenchers, Liz Truss, they’d, it’ll, Organizations: Katie Couric Media, CNN, London CNN, Conservative Party Conference, Conservative British, Central Press, Hulton, National Health Service, Conservative, New, National Party, Cancer Research, Tory Locations: London, Quebec, Britain, America, England, Wales, Scotland
Piety and Profanity: The Raunchy Christians Are Here
  + stars: | 2024-03-17 | by ( Ruth Graham | ) www.nytimes.com   time to read: +1 min
The “Conservative Dad’s Real Women of America” 2024 pinup calendar features old-school images of sexiness — bikinis, a red sports car, a bubble bath. The models are influencers and aspiring politicians familiar to the very online pro-Trump right. In one image, a BlazeTV host in a short skirt lights a copy of The New York Times on fire with a cigar. Published by a “woke-free beer” company hastily launched last year as an alternative to Bud Light, the calendar was clearly meant to provoke liberals. Instead, it sparked a heated squabble on the right over whether “conservative dads” who happen to be Christians should reject the calendar on moral grounds, or embrace it as an irreverent win for the good guys.
Persons: Dana Loesch, , Bud Light, Allie Beth Stuckey, podcaster Organizations: Conservative Dad’s Real, Trump, New York Times Locations: America
Warren Buffett shared a heartfelt tribute to the late Charlie Munger, calling his business partner of 60 years the architect of today's Berkshire Hathaway . "In reality, Charlie was the 'architect' of the present Berkshire, and I acted as the 'general contractor' to carry out the day-by-day construction of his vision," Buffett wrote. In a way his relationship with me was part older brother, part loving father." With much back-sliding I subsequently followed his instructions," Buffett wrote in the letter. Though I have long been in charge of the construction crew; Charlie should forever be credited with being the architect," Buffett said.
Persons: Warren Buffett, Charlie Munger, Berkshire Hathaway, Charlie, Buffett, Munger, Warren, Ben Graham, Benjamin Graham, jerked Organizations: Oracle, Columbia University, BNSF Railway Locations: Berkshire, Omaha, Dairy
Last year, Australia became the first country in the world to legalize clinical prescribing of MDMA, more commonly known as ecstasy, and psilocybin for certain mental health disorders. Elite athletes experience mental health disorder symptoms and psychological distress at similar, if not higher, rates to the general population, researchers pointed out in a study published in the Journal of Applied Sport Psychology. Researchers in the field say that psychedelics are shown to work when treating some mental health conditions. Later, he founded Wesana Health, a biotechnology company which focuses on developing psychedelic medicine for mental health, the most recent being a CBD and psilocybin-based drug. Since her retirement as a professional athlete, Symonds explains that she uses psychedelic drugs for clarity, though not under the direction of a doctor.
Persons: CNN — Daniel Carcillo, Carcillo, , Jeff Gross, , , Aaron Rodgers, ayahuasca, Dustin Satloff, ” Rodgers, Mike Tyson, Dana White, Courtney Walton, ” Walton, Jeff Novitzky, White, Novitzky, Johns Hopkins, we’ve, , ’ ”, Chris Unger, ” Robin Carhart, Harris, Ralph Metzner, University of California San Francisco, psychedelics, ” Carhart, Carhart, psychedelics aren’t, ” James Rucker, ” Rucker, I’ve, Jonathan Daniel, Lucy, Anna Symonds, Symonds, James MacDonald, Rucker, “ They’re Organizations: CNN, Canadian, NHL, Philadelphia Flyers, New York Rangers, Los Angeles Kings, Chicago Blackhawks, CNN Sport, ” Sporting, Harvard Health, Oregon, UFC, Elite, Applied Sport Psychology, Melbourne School of Psychological Sciences, Athlete Health, University of Miami, Neurology, Psychiatry, University of California San, Centre for Psychedelic Research, Imperial College London, King’s College London, Imperial College of London, Getty, Wesana Health, US Food and Drug Administration, NASDAQ, Lucy Scientific, Former US, Addiction Center, US National Institutes of Health, Numinus Bioscience, Bloomberg, Prevention, Befrienders Locations: Denver, Colorado, psychedelics, Australia, , Nanaimo
The 73rd NBA All-Star Game took place on Sunday at Gainbridge Fieldhouse in Indianapolis. AdvertisementThe 73rd NBA All-Star Game took place on Sunday in Indianapolis, and it was a star-studded affair. Jared Kushner and Ivanka Trump attend the 73rd NBA All-Star Game. Lil Wayne sits courtside during the 73rd NBA All-Star Game. AdvertisementDylan Wang attends the 73rd NBA All-Star Game.
Persons: Lil Wayne, Guy Fieri, Jared Kushner, Ivanka Trump, , LeBron James, Giannis Antetokounmpo, East —, Antetokounmpo —, Kevin Mazur, Jennifer Hudson preforms, Justin Casterline, Jennifer Hudson, David Daniel Otunga Jr, Chris Tucker, Destin Christopher Tucker, Anthony Wilson, Sabrina Ionescu, Ionescu, Stephen Curry, Curry, Spike Lee, Jackson Lee, Bill Murray, Chainz, Babyface —, AJ McLean, Donnie Wahlberg, Jenny McCarthy, Dylan Wang, Wang, Shannon, Team Stephen A Organizations: NBA, Gainbridge Fieldhouse, Service, East, West, Gainbridge, New York Liberty, WNBA, Getty, Lucas Oil, Team Locations: Gainbridge, Indianapolis
Tucker Carlson's interview with Vladimir Putin was greeted with some interest on Capitol Hill. "Putin is a studied man of resolute spirit," said GOP Rep. Clay Higgins. AdvertisementWhen former Fox News host Tucker Carlson released his interview with Russian President Vladimir Putin last week, at least a few Republicans on Capitol Hill tuned in with interest. Conservative on one hand, rapidly changing on the other,” said Putin, according to Carlson’s translator. “And we have to be smarter.”AdvertisementAnd Higgins had little time for criticism of Carlson’s interview.
Persons: Tucker Carlson's, Vladimir Putin, JD Vance, Ron Johnson, Putin, Clay Higgins, , Tucker Carlson, he’s, , Higgins, “ Putin, , , Troy Nehls, Texas —, Tucker Carlson’s, Nehls, Donald Trump, , Vlad, Mike Johnson, Sen, Ron Johnson of, Volodymyr Zelenskyy’s, Johnson, Tucker, ” Johnson, Carlson, Ukraine can’t — Putin, He's, Evan Gershkovich, Victoria Spartz, Anna Rose Layden, Ukraine’s, Victor Yanukovich, ” Spartz, Ohio, ” Vance, Abigail Spanberger, Putin spouted, ” “ Organizations: Capitol Hill, Service, Fox News, Republicans, Capitol, Caucus, Business, Milwaukee ”, America’s, Ukraine, Wall Street, Conservative, GOP, NATO, CIA, Victoria, Twitter, Democratic Locations: Clay Higgins of Louisiana, Texas, Chicago, Ukraine, Ron Johnson of Wisconsin, Kyiv, Russian, Colorado, Ukrainian, Eastern Europe, Russia, Victoria Spartz of Indiana, Rus, Kyiv Rus, Moscow, Virginia
‘A sheer coincidence’The journey to the Supreme Court unknowingly began even before the insurrection itself. (In the Cawthorn case, the group partnered with a retired GOP state Supreme Court justice.) CREW appealed to the Colorado Supreme Court, whose members were all appointed by Democratic governors, though they originate from a pool of candidates recommended by a bipartisan panel. Trump appealed the Colorado ruling to the US Supreme Court in early January and oral arguments are set for Thursday. “It’s embarrassing, and it shows the imbalance on our state Supreme Court,” Buck told CNN.
Persons: Donald Trump, , , Marjorie Taylor Greene, Madison Cawthorn, coalescing, , Donald Sherman, Gerard Magliocca, ” Magliocca, United States …, Trump, Donald Trump’s, Jack Dempsey, Mitch McConnell, ” He’d, hadn’t, James Bopp, Greene, didn’t, Ron Fein, resoundingly, Bopp, ” Fein, Couy Griffin, ” Sherman, Griffin, ” Griffin, Trump’s, William Baude, Michael Stokes Paulsen, J, Michael Luttig, , Sherman, Winston Pingeon, Pingeon, Sarah Wallace, ” Donald Sherman, State Jena Griswold, FDR, Norma Anderson, “ I’ve, Wallace, Magliocca, disqualifying Trump, Carlos Samour, vindicating, Ken Buck, Ken Buck of Colorado, denialism, Buck, ” Buck, , ” CNN’s Scott Bronstein Organizations: Washington CNN, Trump, Liberal, Rep, Madison, Citizens, Indiana University, United, Capitol, AP Police, National Guard, Republican, Republicans, GOP, Amnesty, , Cowboys, Trump Republicans, Federalist Society, Colorado Supreme, US Capitol Police, Responsibility, Ethics, Abaca Press, Colorado, State, Colorado Legislature, Court, Democratic, Dissenting, US Supreme, Supreme, CNN Locations: Colorado’s, Colorado, Thursday’s, America, Washington, United States, DC, Colorado and Maine, Marjorie Taylor Greene of Georgia, North Carolina, Cawthorn, Georgia, New Mexico, Denver, “ Colorado, Israel, Michigan, Minnesota, Washington ,, Dissenting Colorado, Oregon, Illinois, Ken Buck of
The first time my foster child, Ethan, had a full-on meltdown, I froze like a deer in headlights. At first, I wanted to, but only because I was panicking and didn't know what else to do. Intellectually I knew this was normal behavior for any toddler, and I suspected, extremely normal for any child going through trauma and significant change. I wanted them to know they were safe and to feel every big feeling they had. I wanted them to know that Jason and I weren't going anywhere.
Persons: , Ethan, Vladimir Putin, Buddy, It's, patting, Jason, Mickey Mouse, Mickey, Mary Poppins, I'd, Mark Daugherty, Clinton, didn't Organizations: Service, Business, Yorkers
X partnered with BetMGM to show sports betting stats on the site, Fortune reported. The deal, the financial terms of which were not disclosed, comes two weeks before Super Bowl LVIII. X plans to roll out a new sports betting feature after inking a deal with the digital gambling platform BetMGM, Fortune reported. These bets will largely take the form of proposition wagers or "prop bets" related to in-game happenings unrelated to the game's outcome. AdvertisementThe Super Bowl is a massive traffic draw for X — so much so that the site briefly crashed during Rihanna's halftime show last year.
Persons: X, BetMGM, , you'll, Fortune, Carl Johnson, Beau Rivage, Usher Organizations: Service, MGM Resorts International, Las, MGM, GVC Holdings, Business, CNN, Kansas City Chiefs, Baltimore Ravens, Detroit Lions, San Francisco 49ers Locations: Las Vegas, Bellagio, Mandalay Bay, BetMGM .
For Gen Z, Tough Guys Wear Rings—Lots of Them
  + stars: | 2024-01-14 | by ( Jacob Gallagher | ) www.wsj.com   time to read: 1 min
Terrence McDermott barely has a finger to spare. Each day, the 26-year-old cigar shop assistant manager in Phoenix plops silver rings onto nine of his 10 fingers. His clinky assortment includes a turquoise signet, a ring inspired by late rapper MF Doom and a pinkie ring that he tried on and couldn’t pry off, so he bought it. He’s not yet married, so his sole free digit is his left ring finger.
Persons: Terrence McDermott, MF Locations: Phoenix
Under his leadership, Belichick took an organization that never sniffed a Super Bowl title and made it a regular occurrence. Jeff Haynes/AFP/Getty Images Belichick, right, coaches alongside New York Giants head coach Bill Parcells during a playoff game in 1984. Jim Rogash/Getty Images Belichick watches from the sideline as his team plays the Seattle Seahawks in the 2015 Super Bowl. Tom Pennington/Getty Images Belichick presents President Donald Trump with an official Super Bowl helmet at the White House in 2017. Kevin C. Cox/Getty Images Belichick leaves the field after losing to the Kansas City Chiefs in December 2023.
Persons: Jeff Pearlman, Jim Fregosi, Paul Olkowski, Fregosi, “ Skip, “ John, , , ” Fregosi, Bill Belichick, Nick Saban, Alabama’s, Belichick, Saban, Tom, Randy Moss, Bear Bryant, Vince Lombardi, Jeff Haynes, Bill Parcells, Parcells, Arthur Anderson, Ralph Waclawicz, George Gojkovich, Anthony Pleasant, Wayne Scarberry, Al Pereira, Robert Kraft, Kraft, Al Messerschmidt, Kevin Terrell, Tom Brady, Damian Strohmeyer, Karen Warren, Steve, David J, Phillip, Jay Leno, Paul Drinkwater, videotaping, Roger Goodell, Matthew West, Peyton Manning, Reed, Jim Rogash, Christian Petersen, Brady, Tom Pennington, Donald Trump, Samuel Corum, Kevin C, Cox, Maddie Meyer, Steven Senne, , Deion Sanders, Dan Campbell, he’s, Mike Ditka, George Allen, Steve Rushin, Doug Rader, Lou Piniella, it’s Organizations: CNN, Sports, Toronto Blue Jays, Sports Illustrated, Super, New England Patriots, Tide, Bama, Super Bowl, Getty, New York Giants, Parcells, ESPN, Cleveland Browns, Denver Broncos, Buffalo Bills, New York Jets, Jets, NFL Hall of Fame, Patriots, St, Louis Rams, Jacksonville Jaguars, Houston Chronicle, Philadelphia Eagles, NBCU, Bank, NFL, MediaNews, Boston Herald, Indianapolis Colts, Reed Saxon, Giants, Belichick, AFC, Seattle Seahawks, White House, Atlanta Falcons, Anadolu Agency, Los Angeles Rams, Kansas City Chiefs, The Patriots, Twitter, University of Colorado, Detroit Lions, Schlitz, Chicago Bears, Washington Redskins, California Angels, Seattle Mariners Locations: Tuscaloosa , Alabama, AFP, Baltimore, Hawaii, Boulder, California, Swiss,
As Charlie Munger's admirers around the globe mourn the loss of one of the most influential investors ever, a deep sense of gratitude and appreciation has spread — for his unparalleled business acumen as well as his uniquely sharp tongue. Munger, Berkshire Hathaway's vice chairman who died Tuesday one month shy of his 100th birthday, left a mark on generations of investors in a host of ways thanks to a long and fruitful life. First and foremost, Munger's investment philosophy rubbed off on none other than Warren Buffett, giving rise to the sprawling conglomerate worth almost $800 billion that Berkshire is today. Munger long emphasized the importance of recognizing a good business before it's widely seen as such, and he did so many times in his storied career. Munger was also a loyal supporter of Costco Wholesale Corp ., calling it one of the best investments of his life.
Persons: Charlie Munger's, Warren Buffett, Munger, Buffett, Bill Stone, Matt McLennan, Charlie, McLennan Organizations: Munger , Berkshire Hathaway's, Glenview Trust, First Eagle Investments, CNBC, Berkshire, Costco Wholesale Corp, Price Club Locations: Munger , Berkshire, Berkshire, Glenview
Charlie Munger and Warren Buffett, with hand raised, in 2006. Munger persuaded Buffett to focus on buying ‘wonderful businesses at fair prices.’ Photo: David Silverman/Getty ImagesIf you want to invest like Charlie Munger , you’re late to the party. The investor’s genius in spotting what’s become known as the “quality factor”—buying good companies—made a ton of money for him and business partner Warren Buffett . Nearly 50 years on, it might not be such a great time to copy his strategy. For those who missed the late Munger’s brilliance, he’s the one who persuaded the billionaire Buffett to shift Berkshire Hathaway ’s focus from “cigar butt” value stocks—bad companies that no one else wants, and so are cheap—to buying “wonderful businesses at fair prices.”
Persons: Charlie Munger, Warren Buffett, Munger, Buffett, David Silverman, you’re, what’s, , Berkshire Hathaway ’ Organizations: Berkshire
Kirban, 48, is the co-founder and executive chairman of The Vita Coco Company, which started selling its namesake coconut water in 2004. Today, Vita Coco is a behemoth in its own right, sporting a $1.6 billion market cap as of Thursday afternoon. It commands nearly 50% of the U.S. coconut water market, according to the company's U.S. Securities and Exchange Commission filings. I remember just sitting there, in this old apartment that I lived in at the time, thinking and thinking and thinking. Somehow, I went from "Holy s---, we're dead," to ... "Holy s---, let's go and beat the s--- out of them."
Persons: Michael Kirban, Vita Coco, Zico, Ira Liran, Mark Rampolla, Kirban, let's, I'd, it's, Guy Oseary Organizations: CNBC, Vita Coco Company, Cola Company, Cola, U.S . Securities, Exchange Locations: Zico, U.S
Or it’s possible the founders just had a lot on their minds and threw the system together at the last minute. Confession: I was hoping to blame the whole Electoral College thing on Thomas Jefferson, who’s possibly my least favorite founding father. Anyway, no matter how it originally came together, we’ve now put the loser of the popular vote in office five times. One involved the Republican Rutherford B. Hayes, who won in 1876 even though the electoral vote was virtually tied and Samuel Tilden easily won the popular vote. George W. Bush lost the popular vote to Al Gore in 2000 — many of you will remember the manic counting and recounting in Florida, which was the tipping point state.
Persons: Waldman, George Washington, Thomas Jefferson, who’s, Sally Hemings, Jefferson, it’s, we’ve, Republican Rutherford B, Hayes, Samuel Tilden, George W, Bush, Al Gore, Gore, Ralph Nader’s, Robert Kennedy Jr Organizations: Republican, Republicans, Southern Democrats, Black, White Locations: France, Florida
Warren Buffett is arguably the most celebrated investor of our generation, but he couldn't have earned the title without Charlie Munger's influence. Munger, Berkshire Hathaway's vice chairman who passed away Tuesday at the age of 99, was instrumental in directing a young Buffett into buying strong-brand quality companies instead of dirt-cheap failing names that he called "cigar butts." The blueprint Munger instilled in Buffett was simple: To buy a wonderful business at a fair price, not a fair business at a wonderful price. In 1972, Munger convinced Buffett to sign off on Berkshire's purchase of See's Candies for $25 million even though the California candy maker had annual pretax earnings of only about $4 million. "Overall, we've kept moving in the direction of better and better companies, and now we've got a collection of wonderful companies, Buffett said.
Persons: Warren Buffett, couldn't, Charlie Munger's, Buffett, Munger, Charlie Munger, Benjamin Graham, we've Organizations: Munger , Berkshire Hathaway's, Berkshire, Oracle, Columbia University Locations: Munger , Berkshire, Berkshire, Omaha, California
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