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Walmart stock has soared 58% this year to record highs, making its founding family richer than ever. Retail legend Sam Walton's three surviving children are each worth more than $100 billion. Walmart and the Waltons have benefited from a signature strategy and cost pressures on consumers. The stock surge has added more than $32 billion to the fortunes of each of founder Sam Walton's three surviving children — Jim, Rob, and Alice. But it's true the vast majority of the family fortune remains in the hands of Sam Walton's children.
Persons: Sam Walton's, , they're, Jim, Rob, Alice, Elon Musk, David King, who've, King, Art Weinstein, Florida who's, Weinstein, Sam Walton shrewdly, . King, Jeff Bezos, Mark Zuckerberg, Sam Walton, John T, Lukas Walton, it's Organizations: Walmart, Waltons, Service, Bloomberg, Elon, Sam's, Management, Florida State University, Logistics, Procter, Nova Southeastern University, Tech, Tesla, SpaceX, Amazon Locations: Florida
Read previewIt's shaping up to be a bustling period for new hedge funds. Startup funds have allies in investment bank prime brokerage units, a crucial lifeline to hedge funds and a growing business on Wall Street. AdvertisementMorgan Stanley has long been home to one of the top prime brokerages, and serving hedge funds is key to the bank's equities ambitions. These are 3 of the top stumbling blocks for startup fund managers and how to handle them, according to Novick and Shaw. AdvertisementBut beyond that, continuing to engage with prospects is simply a sound business strategy.
Persons: , Jon Caplis, Morgan Stanley, Ted Pick, Penny Novick, Kim Shaw, Shaw, Morgan Stanley's, Novick, they're, allocators, Hone, haven't Organizations: Service, Business, Viking
Opinion | Kamala Takes Chicago
  + stars: | 2024-08-23 | by ( Maureen Dowd | ) www.nytimes.com   time to read: +1 min
Kamala Harris had a message for America about Donald Trump and JD Vance on Thursday night. “Simply put, they are out of their minds,” she said to cheers from thousands of Democratic convention delegates in United Center. She was talking about their draconian abortion stances but it could have applied to so much more. Well, we trust women.”Harris has to prove that she is a woman America can trust, as she tries to get the country to do something it has never done before: elect a woman as president. She promised that she would “proudly” sign a bill restoring abortion rights across America.
Persons: Kamala Harris, Donald Trump, JD Vance, , ” Harris, , Harris, Organizations: Democratic, United Center, Trump Locations: America
Anything above 4% indicates the market is overbought, anything below a minus 5% means the market is oversold.) I am just prematurely predicting other investors fleeing the stock because they think Warren knows more than them. Many investors thought that Amazon was the best set up of the Mag Seven going into earnings. We are right smack in a most perilous moment because the Fed doesn't want to move too fast but the stock market does and the Fed does not care about that. I don't think a presidential election is all that conducive to the market.
Persons: Warren Buffett's Berkshire Hathaway, Apple, Warren, That's, Buffett, Tim Cook, Cook, Carl Icahn, I'd, Donald Trump, don't, Jerome Powell, Meta, It's, Pat Gelsinger, Andy Grove, Gelsinger, Craig Barrett, that's, Pat, Let's, Mark Zuckerberg, Jim Cramer's, Jim Cramer, Jim Organizations: Nasdaq, Dow, of America, Apple, Microsoft, Bank of America, Amazon Web Services, Investors, Comcast, Walgreens, CVS, Federal, whimpers, Amazon, Nvidia, Meta, Intel, Lenovo, Dell, HP, CNBC, Jim Cramer's Charitable, Traders, New York Stock Exchange Locations: Friday's, China, , Wells, U.S, humorless, Taiwan, Brookfield, Arizona, NBCUniversal
These "forever renters" vary widely in their reasons for not pursuing home ownership. Others prefer the flexibility to move and freedom from ownership costs that renters enjoy. Homeownership and renting have numerous pros and cons, making it hard to say whether forever renters are acting shrewdly or making a big mistake. Renters avoid large down payments and the varying costs of homeownership, such as mortgage payments, taxes, maintenance, and repairs. It's also cheaper to change the place you're renting than the place you're buying because of real-estate agent fees."
Persons: , Grant Wilson, Eunjee Kwon, David Brasington, Kautz, There's, Colin Lizieri, they've Organizations: Service, Business, University of Regina, University of Cincinnati, University of Cambridge Locations: Germany, Switzerland
Read previewWarren Buffett let slip a slew of intriguing facts and anecdotes during Berkshire Hathaway's annual shareholder meeting on Saturday. But the Berkshire CEO also warned of higher taxes, teased a potential Canadian investment, and revealed a $500 million gift of Berkshire stock. Cash hoardBerkshire's mountain of cash and Treasury hit a record $189 billion last quarter, and it's likely to swell to more than $200 billion this quarter, Buffett said. Taxing timesThe government will probably raise taxes in the coming years in a bid to balance its budget, Buffett said. Pocket changeBuffett claimed that if he had only $1 million to invest instead of nearly $200 billion, he could earn a 50% annual return.
Persons: , Warren Buffett, Buffett, he'd, Costco Buffett, Charlie Munger, Charlie, Talia Lakritz, he's, Todd Combs, Ted Weschler, Greg Abel, Greg, Munger, Abel, haven't, Ruth Gottesman, Sandy Gottesman, Brent N, Clarke, Garry Kasparov, Kasparov, B Organizations: Service, Paramount, Business, Treasury, Costco, Albert Einstein College of Medicine, Getty, Berkshire, Nebraska Furniture Locations: Berkshire, Russian, Omaha, Costco . Berkshire, Wisconsin, Canada, Nebraska
And at a criminal trial, causing a ruckus can bring its own consequences. In a criminal trial, Trump, along with his eager-to-please lawyers, must attend every day. he quipped in response to an argument from one of Trump's lawyers. Technically, Trump faces a maximum of four years in prison for each count he's charged with in his criminal case. The criminal trial will give Trump a chance to hold multiple campaign-boosting rallies before the hallway cameras each day.
Persons: , Donald Trump, they're, Trump, he's, Jean Carroll, Juan Merchan, Carroll, Roberta Kaplan, Carroll's, Arthur Engoron, shrewdly, TIMOTHY A, CLARY, Stormy Daniels, Melania Trump, Kaplan, Eliza Orlins, Orlins, there's, Susan Necheles, Steven Hirsch, Maggie Haberman's, huff, Lewis Kaplan, Alina Habba, Randy Zelin, they've, Engoron, Letitia James of, York —, Kaplan quizzed, Merchan, He's, Donald Trump's, Seth Wenig Merchan, Prosecutors, Zelin, OJ, I'm Organizations: Service, Secret Service, Business, Trump, New York, sophistry, Attorneys, Getty, Manhattan Criminal, Trump Organization, New York Times, Truth, New, AP, Merchan Locations: Manhattan, New York, New York City, Brooklyn, York, America, U.S, Trump
It's still not easy for me to admit it, but that night I used my pain to feed my professional ambition. In a previous job, burnout nearly killed me, and I vowed to never let ambition swallow me again. There's a fine line between the motivation needed to build a successful career and the uncontrolled ambition that ends in burnout. As I unpacked this predicament in therapy, I began to wonder: How did ambition become such a force in our world? In the ancient world, ambition was seen as a curse.
Persons: I'd, It's, I've, Cicero, Seneca, William Casey King, Virtue, shrewdly, King, don't, They're, wasn't, he'd, Coke, Ambition, , I'm, Gabor Maté, Mark L, There's, unethically, India's Organizations: Oxford, New York Times, Guardian Locations: hustling, India, New Delhi
I first heard about Beato after stumbling onto his YouTube channel. During the pandemic, for example, many music fans migrated to the internet to watch various forms of music because live music was off-limits. “I still feel at 60 the same way I did when I was 14,” he said recently in a YouTube video. His face lights up when he talks about his family on his YouTube channel. “My YouTube Channel was a way to honor my parents and leave something for my kids.
Persons: Rick Beato, Instagram, Beato, , Pat Metheny, Sting, Jimi Hendrix, he’s, it’s, , you’re, He’s, Rick, , Mike Rowe, Jobs, ” Rowe, I’ve, I’m, “ Woo, Bach, Brad Mehldau, Keith Williams, Williams, ” Beato, Dick Cavett, Keith Jarrett, Jarrett, John Coltrane, Beato regaled Jarrett, awestruck, ” Jarrett, Steve Gadd, Chuck Mangione, Oscar Peterson, Music —, Nina, Dylan, Lennon, Layla, Eric Clapton, polychords, Taylor Swift’s “, Paul Allen, Everybody, Joni Mitchell, Herbie Hancock, Rick Beato's, Melissa Golden, John Blake Organizations: CNN, YouTube, Costco, Twitter, Facebook, Berklee College of Music, Eastman School of Music, Ithaca College, New, Conservatory, Music, Ithaca, Microsoft, Intelligence Locations: Atlanta , Georgia, London, Berlin, New Jersey, Fairport, Rochester , New York, Italian, New York, Ithaca, Atlanta, Silicon Valley
The Trump campaign shrewdly worked to gain the backing of top Republicans early in the 2024 race. Former South Carolina Gov. AP Photo/Matt KelleyBy courting Republicans early, Trump essentially created a sense of inevitably around his campaign among many GOP voters, a significant impediment for Haley. DeSantis was once seen as a major threat to Trump's hold over the South, but the Florida governor didn't even make it to the South Carolina primary. Trump now leads Haley among potential GOP primary voters 81%-18%, according to the latest Morning Consult tracking poll.
Persons: shrewdly, Trump, Nikki Haley, , Donald Trump, Henry McMaster, Sen, Lindsey Graham, Carolina Sen, Tim Scott, Ron DeSantis, Graham, Haley, It's, Gov, Dan Patrick, Ken Paxton, Wesley Hunt, Sid Miller, Greg Abbott, Joe Biden's, Trump's, Matt Kelley, DeSantis, didn't, House . Alabama Sen, Tommy Tuberville, He's, They're Organizations: Trump, Service, South Carolina State House, GOP, Gov, Florida Gov, Former South Carolina Gov, McMaster, Texas ., Texas . Texas Republicans, Republican, AP, South, Alabama Republicans, House . Alabama Locations: Carolina, Florida, Iowa, Texas, Texas . Texas, California, South Carolina, Alabama , Arkansas, North Carolina, Tennessee, Georgia, Mississippi
Avoiding mistakes in business and life comes down a few simple things, according to billionaire investor Charlie Munger, who died last week at age 99: good financial habits, integrity and "avoiding toxic people and toxic activities." Munger shared the advice during a Q&A session at Berkshire Hathaway's annual shareholders meeting in May. As for avoiding toxic people, look out for those "who are trying to fool you or lie to you or aren't reliable in meeting their commitments," Munger said. At the shareholders meeting in May, Buffett shared his own thoughts on the topic. To him, most major mistakes in life can be avoided by simply being a good person who acts with integrity.
Persons: Charlie Munger, Munger, Warren Buffett, Berkshire Hathaway, Buffett, Becky Quick, Tom Murphy, he's Organizations: Berkshire
Charlie Munger, Warren Buffett's right-hand man at Berkshire Hathaway, died on Tuesday at age 99. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . "Charlie Munger once offered what I consider to be the best life advice one can receive: 'How to find a good spouse? Still, others praised the former vice chairman of Berkshire Hathaway for his lifelong advocacy of education and philanthropy, with multiple users calling Munger a legend and "financial genius."
Persons: Charlie Munger, Warren Buffett's, Berkshire Hathaway, , Charlie Munger's, @WarrenBuffett, Mohamed, Charlie, — Mohamed, Munger, Nancy Barry, Sahil Bloom, William Green Organizations: Berkshire, Service, Berkshire Hathaway Locations: Munger, LA
Berkshire Hathaway vice chairman Charlie Munger has died at 99. Munger was known for his pragmatic life advice, including tips for longevity. AdvertisementCharlie Munger, vice chairman of Berkshire Hathaway and right-hand man to Warren Buffett, died Tuesday. To remain cheerful, Munger said that it's key to let go of negative emotions. Buffett also credited Munger with the success of Berkshire Hathaway, saying it was "built to Charlie's blueprint."
Persons: Charlie Munger, Munger, , Berkshire Hathaway, Warren Buffett, Forbes —, Still, Warren Buffet, Buffett, Candy Organizations: Berkshire Hathaway, Service, Berkshire, CNBC, Harvard, Daily Locations: Omaha, Munger munched
New York CNN —Billionaire investor Charlie Munger, vice-chairman of Berkshire Hathaway and long-time friend to Warren Buffett, died on Tuesday. He said ‘if all you have is a hammer, the world looks like a nail.’”Munger, who was worth $2.7 billion according to Forbes, was revered for his pithy and often humorous remarks on investing, life and more. His speeches and writings, compiled in books like “Poor Charlie’s Almanack,” are considered essential reading for anyone interested in business, investing or the art of clear thinking. It looked to me like a kindergarten.” - Berkshire Hathaway meeting, 2018On algorithmic trading:“We have computers with algorithms trading against other computers. Look at it backward.” - Poor Charlie’s AlmanackOn passion:“You’ll do better if you have passion for something in which you have aptitude.
Persons: Charlie Munger, Berkshire Hathaway, Warren Buffett, Munger, ” Whitney Tilson, Buffett, , ” Munger, Tilson, , We’ve, stockbrokers, they’ve, it’s, I’m, Tao, David Clarkhis Organizations: CNN Business, Bell, New York CNN, Berkshire, Forbes, Google, Berkshire Hathaway, USC, Kiplinger, , Invest, Berkshire Hathaway’s Locations: New York, , Berkshire
Read previewWell-known investor Charlie Munger has died at the age of 99 after a decades-long career. In the last decades of his life, Munger began selling or donating the majority of his Berkshire stock. You're going to crater immediately. If you've got two suitors who are eager to have you, but one is way better than the other, you're going to choose that one rather than the other. If you don't, you're going to need a lot of luck."
Persons: , Charlie Munger, Munger, Berkshire Hathaway, Warren Buffett, Buffett, I'm, Bonnie Schiffman, you've, it's, We're, Warren Organizations: Service, Forbes, CNBC Locations: Berkshire, Omaha, Berkshire Hathaway
MILTON FRIEDMAN: The Last Conservative, by Jennifer BurnsIn writing her new biography of the Nobel Prize-winning economist Milton Friedman, known throughout his long life for his cheerful endorsement of deregulation and free markets, Jennifer Burns certainly had her work cut out for her. “As he increasingly came to symbolize a political movement,” she writes, “the nuance and complexity of his ideas was lost.”But even Burns has to admit that this attention to “nuance and complexity” was something that Friedman did a lot to discourage. The principles underlying such intricate cooperation were “really very simple,” he said. At the University of Chicago, where Friedman spent most of his teaching life, he edged out the leftist scholars clustered in the Cowles Commission for Economic Research, shrewdly getting the Rockefeller Foundation to pull its funding from the commission and finance Friedman’s workshop instead. Charismatic in the classroom, Friedman didn’t just teach students; he created converts.
Persons: MILTON FRIEDMAN, Jennifer Burns, Milton Friedman, Friedman, , Burns, fashioning, baldheaded Friedman, Burns —, Ayn Rand —, shrewdly, Friedman didn’t, , ” Friedman Organizations: Conservative, Newsweek, Productivity, Stanford, University of Chicago, Commission, Economic Research, Rockefeller Foundation
Editor’s note: The following contains spoilers about the series finale of “Billions,” titled “Admirals Fund.”After seven twisty seasons, with more double and triple crosses than you can shake a stock certificate at, “Billions” successfully landed the plane (OK, private jet) with its series finale, in a satisfying finish that reassembled the key players and even gave them time to take individual bows. For a show with so much bite and venom, it was oddly sentimental in generally the best of ways. The final season found a way to raise the stakes above high finance, with billionaire Mike Prince (Corey Stoll) running for president, exhibiting enough problematic qualities and questionable beliefs to inspire those within in his inner circle to turn against him and try to thwart his bid. If it wasn’t quite the game of catch scene from “Field of Dreams,” for these purposes the point was much the same. The “Billions” finale is playing on Paramount+ and will premiere October 29 on Showtime.
Persons: Mike Prince, Corey Stoll, Prince, immeasurably, Damian Lewis, Bobby “, ” Axelrod, Chuck Rhoades, Paul Giamatti, Jeffrey DeMunn, Chuck, , Brian Koppelman, David Levien, Bobby, Wendy, Maggie Siff, Mike “ Wags ” Wagner, David Costabile, , Steve Miller Organizations: , Showtime, Paramount
CNN —Donald Trump will skip another Republican presidential debate on Wednesday night because no one will punish him for not being there. While getting away with it is the ex-president’s quintessential political skill, his talent for evading consequences is facing a grave challenge in another sphere – the courts. Since the first GOP debate last month in Wisconsin, Florida Gov. Yet it stirred barely a murmur from Trump’s GOP rivals. The ex-president’s political might within the GOP base means its leaders are loath to cross him.
Persons: Donald Trump, Trump, He’s, he’s, Ronald Reagan, specter, Ron DeSantis ’, Nikki Haley, Chris Christie, Asa Hutchinson, , Haley, they’ve, Mike Pence, Trump’s, Cassidy Hutchinson, Mark Meadows, marveled, CNN’s Jake Tapper, “ Donald Trump, can’t, ” Hutchinson, Tapper, , Mark Milley, he’d, Eric, Donald Jr, Jack Smith, Democratic Sen, Robert Menendez, Arizona Sen, Jeff Flake, Liz Cheney, Utah Sen, Mitt Romney –, Matt Gaetz, Marjorie Taylor Greene, Kevin McCarthy, McCarthy, Rudolph Giuliani, Meadows, ” Trump, Trump shrewdly Organizations: CNN, Trump Organization, Republican Party, GOP, Trump, Ronald Reagan Presidential Library, Florida Gov, South Carolina Gov, New, New Jersey Gov, Arkansas Gov, White House, Joint Chiefs of Staff, Justice Department, MSNBC, Democratic, Republican, Wyoming, Georgia, White, Trump –, goading, Former New York Locations: Detroit, York, Wisconsin, Florida, New Jersey, Trump, New York, Washington, DC, Mar, Arizona, Utah
In 2005, Justin Trudeau, the son of a legendary Canadian prime minister, and Sophie Grégoire, a well-known television journalist, married inside a stone church in Montreal’s wealthy, French-speaking enclave of Outremont. “I’m the luckiest woman in the world,” the bride said to a crowd of onlookers as she entered the church. Under a sunny sky, the couple drove away in a Mercedes roadster that belonged to Mr. Trudeau’s father, Pierre Trudeau, producing an iconic wedding photo. “The wedding was talked about a lot, maybe not as much as Céline Dion’s, but it was talked about,” Geneviève Tellier, a political science professor at the University of Ottawa, said, referring to the singer who is from Quebec. “It was a media event.”Over the next decade, Mr. Trudeau, with his wife and their three children, shrewdly crafted an image that became integral to his rapid ascent — that of a modern husband, father and political figure, who would go on to win votes with a mix of idealism and glamour.
Persons: Justin Trudeau, Sophie Grégoire, , Trudeau’s, Pierre Trudeau, ” Geneviève Tellier, Trudeau, shrewdly Organizations: Canadian, University of Ottawa Locations: Montreal’s, Outremont, Quebec,
Berkshire CEO Warren Buffett and vice chairman Charlie Munger doled out business and life advice. Munger's "great lesson in life" is to cut out toxic people who can hinder your path to success. Munger, in particular, stressed that toxic people could hinder someone's path to success. And one in nine US workers have said they've experienced a toxic workplace. And if that toxic manager or employee doesn't seem to be changing, per Munger's advice, it may be time to cut them loose.
Ari Aster’s “Beau Is Afraid” is a supersized, fitfully amusing, self-important tale of fear and loathing. As the title announces, its protagonist, Beau Wassermann — a terminal sad-sack played by the invariably watchable Joaquin Phoenix — is anxious, well, about everything. Outwardly, “Beau Is Afraid” seems to be a departure for Aster, whose first two features center on horrific happenings and some seriously bad relationships. In “Hereditary” and “Midsommar,” Aster meticulously peels back the ostensibly ordinary surface of the world, its patina of normalcy, to reveal the annihilating malevolence beneath it. In “Beau Is Afraid,” Aster changes things up by making Beau difficult to cozy up to.
I LIKE A STOCK THAT'S DE-RISKEDWHICH IS WHY I THINK EMERSON ISA GREAT BUY. I THINK THAT'S A GOOD STRATEGY. JEFF, I DON'T KNOW HOW ELSE TOPUT IT. I DON'T THINK ANYONE SHOULD SELLTHIS ON THE NOTION THAT THERE'SAN ANALYST WHO MISSED THE WHOLETHING IS SAYING SELLING. >> THAT'S GREAT.
Toshiba buyout heralds a big step back for Japan
  + stars: | 2023-01-20 | by ( Una Galani | ) www.reuters.com   time to read: +7 min
MUMBAI, Jan 20 (Reuters Breakingviews) - The end of a long battle to wring some value from Toshiba (6502.T) is finally within reach. Such an outcome won’t encourage private equity firms, and big policy shifts underway may stifle the industry just as it hits a new high. Instead, after an accounting scandal in 2015, Toshiba came to epitomise Japan Inc’s pervasive value destruction. Japan typically outperforms private equity deals in other developed markets, partly because existing incentive structures for company bosses are so poor. The country’s private equity industry is only just finding its feet.
CNN —For those wondering who would build a giant holiday musical-comedy around Will Ferrell and Ryan Reynolds, the “produced by Will Ferrell” credit provides a helpful clue. “Spirited” tries turning “A Christmas Carol” on its head, and while it’s big and boisterous, the movie (hitting theaters before Apple TV+) isn’t consistently irreverent enough to feel like much more than a streaming stocking stuffer. Of course, playing with Charles Dickens’ oft-told tale brings a lot of shorthand to the proceedings, with Ferrell as the Ghost of Christmas Present, who stumbles upon Reynolds’ fast-talking Clint Briggs, a media consultant introduced trying to commoditize Christmas. Present identifies him as a candidate to become their next “perp,” offered a Scrooge-like shot at redemption. “Spirited” premieres November 11 in select US theaters and November 18 on Apple TV+.
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