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☆ Elon Musk suggests Warren Buffett should buy Tesla stock - and reveals Charlie Munger could have invested in 2008 at a tiny fraction of its valuation today
▼ + stars: | 2023-02-27 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Warren Buffett's Berkshire Hathaway should invest some of its excess cash in Tesla, Elon Musk said. Charlie Munger had the chance to buy into Tesla at a $200 million valuation in 2008, Musk said. Munger could have made 3,000 to 6,000 times his money, as Tesla is worth over $600 billion today. Musk's tweet suggests that Munger — Buffett's 99-year-old business partner and Berkshire's vice-chairman — could have bought, say, 5% of Tesla for a measly $10 million in 2008. Munger and Buffett have never publicly invested in Tesla, but both men have weighed in on Musk and his car company.

☆ Days before the Supreme Court takes on Biden's student-loan forgiveness, Elizabeth Warren urges it to 'do its job and apply the law as it is written'
▼ + stars: | 2023-02-26 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +6 min

Sen. Elizabeth Warren urged the Supreme Court to uphold Biden's student-debt relief. "The Supreme Court needs to do its job and apply the law as it is written." GOP Sen. Marsha Blackburn, for example, wrote on Twitter on Thursday that "canceling student debt is Biden's gift to young left-wing activists. She also led GOP senators in filing an amicus curiae brief to the Supreme Court urging it to strike down Biden's debt relief. This scale of student-loan forgiveness is unprecedented, so it's hard to determine which way the Supreme Court will rule.

☆ The Russia-Ukraine war will continue into 2024 and any definitive outcome has risks, a veteran investment chief and former Moscow-based journalist says
▼ + stars: | 2023-02-25 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

Rhys Williams, chief investment officer of Spouting Rock Asset Management. Spouting RockRhys Williams is the chief investment officer at Spouting Rock Asset Management. Phil Rosen: What are the implications for financial markets of Russia's war on Ukraine? What do you think of Williams' insights on markets and the Russia-Ukraine war? The Reddit-loving day traders are back in a big way, piling record amounts of cash into stocks to start the year.

☆ Rolls-Royce shares soar by 23% after annual results crush expectations
▼ + stars: | 2023-02-23 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

Rolls Royce Trent XWB engines, designed specifically for the Airbus A350 family of aircraft, are seen on the assembly line at the Rolls Royce factory in Derby, November 30, 2016. Shares of London-listed aviation manufacturer Rolls-Royce soared Thursday, after the company sharply beat expectations with a 57% year-on-year increase in underlying profit, driven by its civil aerospace and power systems. The company recorded £652 million ($786 million) of underlying profit last year, £238 million higher than in 2021 — exceeding analyst forecasts near £478 million, as polled by Reuters. The company attributed the results to recovering demand for international travel, noting a 35% year-on-year hike in large engine flying hours for civil aerospace. The surge brings Rolls-Royce shares in line with the Deutsche Bank analysts' price target of £1.36.

☆ Buffett-backed BYD and more: Analysts name top 'climate stocks,' giving one 100% upside
▼ + stars: | 2023-02-22 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Energy storage and the future of transport are two of the "most attractive" climate themes to invest in right now, according to HSBC analysts. "While long-term valuations are still below average, consensus expect earnings to grow c40% higher than global climate stocks over the next 12M," said the bank's analysts in a Feb. 20 note. Stocks with the most upside HSBC named buy-rated stocks under both of these themes which have among the highest upside to the bank's price targets. In energy storage, electric vehicle battery maker CATL (55% upside), lithium producer SQM (40% upside) and lithium producer Livent (38% upside) made the list. "The global energy storage market continues to grow, despite higher energy storage costs in 2022.

☆ Jerusalem Christians say they feel growing harassment
▼ + stars: | 2023-02-13 | by ( Ammar Awad | ) www.reuters.com time to read: +4 min

REUTERS/Ammar AwadJERUSALEM, Feb 13 (Reuters) - For several weeks, members of the small Christian community in Jerusalem's Old City say they have felt under pressure from what they say is growing harassment and intimidation from violent Jewish ultranationalists. The church stands at the place where Christ is held to have taken the cross after being condemned to death by crucifixion. "In the past two months, I would say, since the beginning of the new government, attacks like this are becoming very, very usual," said Miran Krikorian, a restaurant owner in the Old City. Israeli police say they have stepped up patrols around Christian sites in Jerusalem as churches report abuse by Jews following the swearing-in of Prime Minister Benjamin Netanyahu's hard-right government. The cramped warren of alleyways that makes up the Old City surrounds some of the holiest sites for Jews, Christians and Muslims, and the local communities have long developed ways of living together.

☆ Ron DeSantis just notched a win in court. But the judge says he still violated a prosecutor’s free speech rights.
▼ + stars: | 2023-01-20 | by ( Marc Caputo | Marc Caputo Is A Senior National Political Reporter For Nbc News. | ) www.nbcnews.com time to read: +15 min

In a statement posted on Twitter, DeSantis' office lauded the ruling without addressing those nuances. By suspending Warren, DeSantis also elevated the Democrat’s political profile in his own party. And no one in Hillsborough County was charged with violating that state law when Warren was the county prosecutor. Court testimony from DeSantis administration officials showed that the abortion letter was the major cause of Warren's suspension. Abortion was the only issue mentioned in the first draft of DeSantis' suspension order.

☆ Judge rules for Florida's DeSantis against prosecutor for abortion stance
▼ + stars: | 2023-01-20 | by ( Mike Scarcella | ) www.reuters.com time to read: +3 min

DeSantis on Aug. 4 barred Warren from performing any official "act, duty or function of public office." Hinkle found that Warren's suspension violated Florida's state constitution, but the judge said the U.S. Constitution barred him from issuing a reinstatement order "against a state official based only on a violation of state law." The court also wrote that "Mr. Warren's actual performance as a reform prosecutor was conduct, not speech protected by the First Amendment." Lawyers for Warren and a DeSantis representative did not immediately respond to messages seeking comment. Lawyers for DeSantis argued that the governor suspended Warren from office not over his speech but his conduct as a prosecutor.

☆ Wharton professor Jeremy Siegel channels Warren Buffett in explaining the problem behind Tesla's epic stock price decline
▼ + stars: | 2023-01-03 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Jeremy Siegel used a quote from Warren Buffett to explain the problem behind Tesla's epic stock price decline. "It's far better to buy a wonderful company at a fair price, than a fair company at a wonderful price," Buffett once said. "The problem with Tesla was always the price, and I think that's the bottom line," Siegel said. Tesla stock has erased just over $900 billion in market value over the past year, with the stock price falling more than 70% from its record high. The full Buffett quote Siegel may be referring to is: "It's far better to buy a wonderful company at a fair price, than a fair company at a wonderful price."

☆ A 30-year investing vet who called the latest bear market warns that stocks have another 41% downside with US economy already in recession and the Fed continuing to ratchet up rates
▼ + stars: | 2022-12-31 | by ( William Edwards | ) www.businessinsider.com time to read: +7 min

Jon Wolfenbarger thinks the US economy is already in recession. With growth slowing and the Fed still tightening, Wolfenbarger thinks stocks are due for big losses. The S&P 500 is already down around 20% year-to-date. All of that spells further trouble ahead for stocks, Wolfenbarger said, despite the fact that the S&P 500 has already fallen about 20% in 2022. In a recessionary scenario, Goldman Sachs' David Kostin said the S&P 500 could fall to 3,150, though that is not his base case.

☆ Will 2023 be a better year for the chip sector? Wall Street pros weigh in and share their top picks
▼ + stars: | 2022-12-27 | by ( Zavier Ong | ) www.cnbc.com time to read: +5 min

It's been a tough year for the once-booming semiconductor sector. But several Wall Street pros are urging investors to take a longer-term view on the sector, given the importance of the semiconductor chip in several key secular trends. The bank said the next leg of growth for the sector will be led by government spending on renewable energy and carbon neutrality. The bank named Analog Devices , Marvell Technology , Globalfoundries and Microchip Technology among its top stock picks in the chip sector. TSMC in the headlines One chip stock that has consistently been on investors' radars is semiconductor powerhouse Taiwan Semiconductor Manufacturing Company (TSMC).

☆ Bill Gates upbeat on climate innovation, even if 1.5C goal out of reach
▼ + stars: | 2022-12-20 | by ( Katy Daigle | ) www.reuters.com time to read: +4 min

The software-developer-turned-philanthropist was nevertheless upbeat about climate innovation - ticking off numerous areas advancing low-carbon technologies with funding from the Breakthrough Energy Group, which Gates founded in 2015. Gates has invested more than $2 billion toward climate technologies, including direct air capture, solar energy and nuclear fission. Breakthrough Energy, however, operates separately from the Gates Foundation charity. But any Breakthrough Energy profits are funneled back into the group or to the foundation. He did not elaborate on the DAC companies' plans.

☆ Elizabeth Warren slams the Fed's Jerome Powell for 'pushing hard to get more people fired' as he continues to aggressively fight inflation
▼ + stars: | 2022-12-14 | by ( Juliana Kaplan | Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

The Federal Reserve hiked interest rates again today, but not at the same fast pace as past months. On Wednesday, the Federal Reserve announced it would be increasing interest rates yet again, raising them 0.5 percentage points. "He's pushing hard to get more people fired because he thinks that is one way to help bring down inflation," Warren told HuffPost's Arthur Delaney, referencing Federal Reserve Chair Jay Powell. This isn't the first time Warren has sounded the alarm on continued interest rate hikes. The Federal Reserve isn't the only body that could take action: Congress could step in with legislation aimed at lowering prices.

☆ 7 CEOs on the ‘innovative’ and ‘timely’ books everyone should read this winter
▼ + stars: | 2022-11-27 | by ( Morgan Smith | ) www.cnbc.com time to read: +6 min

Many of the world's most successful CEOs and business leaders swear by their reading habit. CNBC Make It asked 7 CEOs to share their favorite reads for the holiday season. It is so timely and necessary given the pace of work and the amount of distractions. Unlike reading a typical book, which can feel passive, 'Embrace The Work, Love Your Career' is an experiential journal. This book is a quick read that really helped me connect to the ways we tend to tell ourselves stories to self-justify our thoughts and actions.

☆ Elizabeth Warren demands Sam Bankman-Fried and FTX turn over trove of records
▼ + stars: | 2022-11-17 | by ( Matt Egan | ) edition.cnn.com time to read: +6 min

Elizabeth Warren and Dick Durbin are demanding FTX founder Sam Bankman-Fried hand over a trove of documents that will shed light on the extraordinary and swift downfall of his crypto exchange. “Billions of dollars worth of investor funds seem to have disappeared into the ether,” Warren and Durbin wrote. The committee said it expects to hear from the companies and individuals involved, including Bankman-Fried. That Reuters report said Bankman-Fried used this “backdoor” to transfer $10 billion in FTX customer funds to Alameda, the hedge fund, and at least $1 billion is now missing. Warren and Durbin ask in their letter if Bankman-Fried did in fact use a “backdoor” to transfer FTX customer funds and, if so, who else knew about it.

☆ Elizabeth Warren blasts the 'egregious and embarrassing ethics breaches' among top Fed officials who she says have engaged in 'improper' stock trading for over a year
▼ + stars: | 2022-11-08 | by ( Ayelet Sheffey | ) www.businessinsider.com time to read: +4 min

Sen. Elizabeth Warren slammed "improper stock trading" among Fed officials. On Monday, Massachusetts Sen. Elizabeth Warren sent a letter to Federal Reserve Chair Jerome Powell regarding what she called "egregious and embarrassing ethics breaches by top officials at the Federal Reserve System," referring to reports of "improper" stock trading by officials behind closed doors. The scandals predate the October findings — in September 2021, for example, Dallas Fed President Robert Kaplan was found to have made multiple stock trades in 2020, along with Boston Fed President Eric Rosengren. He declined to comment on any pending investigations of Fed officials. Along with looking into potential ethics breaches within the Fed, Warren and other Democratic lawmakers have also raised concerns with the tactics the Fed is using to fight inflation.

☆ Jeff Bezos was just dethroned as the 2nd richest person in the world by Asia's wealthiest individual
▼ + stars: | 2022-09-17 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +2 min

Asia's richest person, Gautam Adani, passed Jeff Bezos to become the world's second-richest person. In February, Adani, the founder and chairman of Adani Group, became Asia's richest person, surpassing fellow Indian businessman Mukesh Ambani. He managed his brother's plastic company, helping him import PVC, and in 1988 eventually established the flagship for Adani Group, Adani Enterprises. Adani Group comprises seven publicly-traded companies, including Adani Green Energy Ltd and Adani Total Gas Ltd. As of September 16, 2022, Adani Group has a market cap of over $258.44 billion. As second-richest person, Adani is only behind Elon Musk, who is worth $264 billion, according to the Bloomberg Billionaires Index.

☆ Elizabeth Warren calls for universal device chargers, urging the US to join European Union efforts toward 'less expense, less hassle, and less waste'
▼ + stars: | 2022-07-08 | by ( Jordan Hart | ) www.businessinsider.com time to read: +2 min

Sen. Elizabeth Warren took to Twitter Thursday to call for "uniform standards" for device chargers. Ed Markey and Bernie Sanders joined Warren in a letter to Department of Commerce on the issue. The EU has already approved a plan for mobile devices to be compatible with USB-C charger. In a tweet posted Thursday, Warren wrote that potential legislation to streamline chargers would create "less expense, less hassle, and less waste." The letter also highlights that chargers account for 11,000 tons of e-waste annually.

☆ Boxing legend Wladimir Klitschko is fighting on the front line to defend Ukraine – here's how investing legends Warren Buffett and Ray Dalio inspired the head of his $100 million family office
▼ + stars: | 2022-03-17 | by ( George Glover | ) www.businessinsider.com time to read: +5 min

Insider spoke to Kostya Kovalchuk, the investing chief of Klitschko's $100 million family office. KLIWLA allocates around 35% of its $100 million assets under management to Ukraine, and invests the other 65% internationally. "Wladimir is optimistic, very entrepreneurial and always interested in meeting new people", Kovalchuk told Insider. Value investingKovalchuk allocates Klitschko's $100 million portfolio through specialist managers who better understand tech and commodities. Commodities also play a major role in Klitschko's $100 million portfolio.

I was encouraged to start saving for retirement at 24 because my job offered a 401(k) with a generous match. Pick a tax-advantaged retirement account that makes sense for your financial situation and goals, and set up automatic contributions. When it comes to retirement, saving something is always better than saving nothing, so don't be too hard on yourself if you haven't made it a priority until now. Pick a retirement account (or two)Get familiar with the features of each type of retirement account. She writes most frequently about saving money, planning for retirement, taxes, debt management, and strategies for building wealth.

First, it's quite likely your friends don't know what the heck they are talking about, whether it comes to recommending specific investments or brokers. AdvertisementHowever, the best financial advisors or broker doesn't have to be Bernie Madoff to tell you your friend's advice sucks. Take a look at a study entitled The Market for Financial Advice: An Audit Study, released earlier this year by the National Bureau of Economic Research. Related storiesYou just know that some of these testers were recommending their new guy to their friends too. The best financial advice is boring.

Persons: Warren Buffet, Bernie Madoff, Sendhil Mullainathan, Sohn, Jon Stein, Jon Organizations: Survey, Consumer Finances, Madoff, National Bureau of Economic Research, Harvard University, AARP, Consumer Federation of America, Investment Advisors, Sohn Investment, Securities Representative, Harvard University ( Economics, Columbia Business School

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