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☆ Warren Buffett Wannabes Lose Luster
▼ + stars: | 2023-02-25 | by ( Laura Forman | ) www.wsj.com time to read: 1 min

Warren Buffett’s slow-and-steady approach to investing wasn’t popular in recent years with younger investors, who often sought advice from influencers and pundits. Warren Buffett , who has earned Berkshire Hathaway investors over 35,000% since 1978, once said that “the stock market is designed to transfer money from the active to the patient.” Now many younger investors who had been seeking shortcuts are coming around to his way of thinking. In 2008, just as the seeds of the recent tech boom were being sown in the ashes of the financial crisis, Tim Ferriss, bestselling author of “4-Hour Workweek,” which told readers how to “join the new rich,” snagged a coveted microphone at Berkshire Hathaway’s annual meeting. With a shaky voice, he asked Mr. Buffett and his business partner, Charlie Munger , how a 30-year-old with his first million dollars in the bank should invest.

☆ Warren Buffett calls stock buyback critics 'economic illiterate' in Berkshire Hathaway annual letter
▼ + stars: | 2023-02-25 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

An Andy Warhol-like print of Berkshire Hathaway CEO Warren Buffett hangs outside a clothing stand during the first in-person annual meeting since 2019 of Berkshire Hathaway Inc in Omaha, Nebraska, U.S. April 30, 2022. Warren Buffett defended stock buybacks in Berkshire Hathaway 's annual letter, pushing back on those railing against the practice he believes beneficial to all shareholders. The conglomerate spent a record $27 billion in buybacks in 2021 as Buffett found few opportunities externally. Buffett believes buybacks are beneficial to shareholders as they provide a lift to per-share intrinsic value. "American tailwind"Buffett's widely read shareholder letter is released with Berkshire's annual report and usually sets the tone before the conglomerate's big annual meeting in May in Omaha, Nebraska, nicknamed "Woodstock for Capitalists."

☆ Warren Buffett is missing out on this year’s market comeback
▼ + stars: | 2023-02-19 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +8 min

But the Oracle of Omaha has missed out on this year’s stock market rally. Buffett, in fact, has promoted that idea to investors many times, arguing that most individual stock pickers will not be able to beat the market. And to his credit, that usually pays dividends: Berkshire stock was up 3% last year in a down market. “High rates of inflation create a tax on capital that makes much corporate investment unwise,” Buffett said in his 1980 shareholder letter to Berkshire investors. Investors will get several more clues about consumer spending this week when several top retailers report earnings.

☆ Investors and techies gather in San Francisco to bathe in generative A.I. hype sparked by ChatGPT
▼ + stars: | 2023-02-17 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +8 min

They were there to discuss the latest craze capturing the attention of the tech world: generative artificial intelligence. The underlying AI software powering ChatGPT, a kind of machine-learning technology known as a "large language model," isn't new. As Bessemer Venture Partners' Sameer Dholakia told audience members, generative AI could change "the lives of billions of people." Blackwell credits OpenAI and ChatGPT with showing people what's possible with generative AI, shining a spotlight on the industry at large. But for one day in San Francisco, generative AI was more than just a tool.

☆ Buffett TSMC's U-turn spotlights chips' siren call
▼ + stars: | 2023-02-16 | by ( ) www.reuters.com time to read: +2 min

HONG KONG, Feb 16 (Reuters Breakingviews) - A lot can change in three months, especially in the world of semiconductor investing. Warren Buffett's Berkshire Hathaway (BRKa.N) inexplicably sold most of its $4.1 billion holding in Taiwan Semiconductor Manufacturing (2330.TW), a position only disclosed in November. For TSMC, Berkshire probably pocketed a 9% return, Reuters reported citing analyst estimates, having held the stake for roughly three months. He may be right about TSMC, which boasts a monopoly in advanced chipmaking and superior profitability - the "moats" Buffett prizes so highly. Moat or no moat, the outlook for chips is getting dicey.

☆ Billionaire Charlie Munger: Cryptocurrency is 'crazy, stupid gambling,' and 'people who oppose my position are idiots'
▼ + stars: | 2023-02-16 | by ( Cheyenne Devon | ) www.cnbc.com time to read: +3 min

It's just ridiculous that anybody would buy this stuff," Munger, 99, told CNBC's Becky Quick during a livestream of the event, adding: "It's totally absolutely crazy, stupid gambling." "I think the people who oppose my position are idiots, so I don't think there is a rational argument against my position," he said. Munger's comments come amid an avalanche of problems for crypto investors over the past year. He's previously urged the U.S. government to ban cryptocurrencies, and may partially get his wish as the crypto industry faces rising regulatory crackdowns. "In other words, an adviser may custody crypto assets at a bank, but banks are cautioned by their regulators not to custody crypto assets," Uyeda wrote.

☆ Berkshire's Charlie Munger calls A.I. advances a 'mixed blessing'
▼ + stars: | 2023-02-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBerkshire's Charlie Munger calls A.I. advances a 'mixed blessing'Charlie Munger, Berkshire Hathaway vice chair and Daily Journal board member, is featured on 'Squawk Box' to discuss A.I., his favorite stocks of all time, and Elon Musk's Twitter takeover.

☆ Charlie Munger says BYD is so far ahead of Tesla in China it's almost ridiculous
▼ + stars: | 2023-02-15 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Charlie Munger said Wednesday that Tesla pales in comparison to BYD in China, calling the Chinese electric vehicle maker his favorite stock ever. Berkshire initial investment is now "worth about $8 billion or maybe $9 [billion]. Berkshire has actually been trimming its BYD stake in the past year as the stock has become increasingly pricey. "At the current price of BYD stock, little BYD is worth more than the entire Mercedes corporation. It's not a cheap stock, but on the other hand, it's a very remarkable company," Munger said.

☆ Watch Charlie Munger speak at the Daily Journal annual meeting
▼ + stars: | 2023-02-15 | by ( Yun Li | ) www.cnbc.com time to read: +1 min

Charlie Munger, a shareholder and board member for The Daily Journal, is set to speak at the newspaper's virtual annual meeting Wednesday. Munger stepped down from his chairman title at the Los Angeles-based Daily Journal last year. Daily Journal's annual meetings typically feature hours of Q&A with Munger, drawing attention from investors and admirers around the globe. Munger is also the vice chairman of Berkshire Hathaway and a longtime business partner of Warren Buffett. He recently penned an op-ed in the Wall Street Journal, urging the U.S. to follow in China’s footsteps and ban cryptocurrencies.

☆ Charlie Munger downplays risk of Taiwan invasion, says crypto fans are 'idiots'
▼ + stars: | 2023-02-15 | by ( Jonathan Stempel | ) www.reuters.com time to read: +2 min

Feb 15 (Reuters) - Charlie Munger, the longtime business partner of Warren Buffett at Berkshire Hathaway Inc (BRKa.N), on Wednesday said China remains a top opportunity for investors despite geopolitical risks. Munger also doubled down on his recent Wall Street Journal editorial calling for the U.S. government to follow China and ban cryptocurrency, saying "people who oppose my position are idiots." Referring to Chinese President Xi Jinping and Russia's nearly yearlong invasion of Ukraine, Munger downplayed concern that China might invade Taiwan. Munger also called TSMC the "strongest semiconductor company on earth," though Berkshire recently cut its formerly $4.1 billion stake by 86%. Reporting by Jonathan Stempel in New York; editing by Diane CraftOur Standards: The Thomson Reuters Trust Principles.

☆ Charlie Munger still likes big banks and hates crypto
▼ + stars: | 2023-02-15 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +3 min

“I might have different ideas [than Buffett],” Munger said about bank stocks at the annual meeting for the Los Angeles-based newspaper publisher Daily Journal, where Munger was chairman until last year. Munger remains a board director at Daily Journal and is one of its top investors. Daily Journal, like Berkshire Hathaway (BRKB), is a conglomerate that also owns some individual stocks. Daily Journal’s portfolio is much smaller than Berkshire’s. Munger said he doesn’t want to sell Daily Journal’s bank investments because Daily Journal bought many of the stocks at the bottom during the 2008-2009 financial crisis.

☆ Charlie Munger on crypto: It's ridiculous anybody would buy this 'massively stupid' stuff
▼ + stars: | 2023-02-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCharlie Munger on crypto: It's ridiculous anybody would buy this 'massively stupid' stuffBillionaire investor and Berkshire Hathaway Vice Chairman Charlie Munger speaks at the Annual Shareholders Meeting of the Daily Journal Corporation.

☆ Charlie Munger weighs in on ChatGPT3: Artificial intelligence is not going to cure cancer
▼ + stars: | 2023-02-15 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCharlie Munger weighs in on ChatGPT3: Artificial intelligence is not going to cure cancerBillionaire investor and Berkshire Hathaway Vice Chairman Charlie Munger speaks at the Annual Shareholders Meeting of the Daily Journal Corporation.

☆ Charlie Munger on BYD versus Tesla: This carmaker is so ahead of Tesla in China, it's ridiculous
▼ + stars: | 2023-02-15 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCharlie Munger on BYD versus Tesla: This carmaker is so ahead of Tesla in China, it's ridiculousBillionaire investor and Berkshire Hathaway Vice Chairman Charlie Munger speaks at the Annual Shareholders Meeting of the Daily Journal Corporation.

☆ Investors need to embrace these stocks that we love
▼ + stars: | 2023-02-12 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +8 min

I’ve typically done this stock picking feature in early to mid February as a Stocks We Love type of story, pegging it to Valentine’s Day. The restaurant stocks in particular could do well. Inflation is obviously still a concern for big consumer brands. Consumer prices rose 6.5% over the past 12 months through December, down from a 7.1% pace in November. Up nextMonday: Earnings from TreeHouse Foods (THS), Avis Budget (CAR), FirstEnergy (FE), IAC (IAC) and PalantirTuesday: US CPI; Japan GDP; UK employment report; earnings from Coca-Cola, Asahi Group, Marriott (MAR).

☆ A top oil analyst explains Europe’s new fuel sanctions on Russia and how that impacts global energy markets
▼ + stars: | 2023-02-04 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

The flow of crude oil is seen in a container while an oilfield worker works on a drilling rig at an oil well operated by Venezuela's state oil company PDVSA Carlos Garcia Rawlins/ReutersMatt Smith is the lead oil analyst at Kpler. Phil Rosen: This week the EU has new sanctions and a price cap kicking in on Russian oil products, such as diesel. MS: They're one of the leading producers and leading exporters in the world, so we shouldn't expect that to change. What will influence this is how long this war goes on, and how detrimental that is to its energy industry. Demand for cardboard boxes has dropped to levels not seen since the 2008 financial crisis.

☆ Data could help save crypto’s image
▼ + stars: | 2023-02-03 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, Feb 3 (Reuters Breakingviews) - Cryptocurrency could use a reputational boost right now. So it’s problematic that those who could help legitimize the business aren’t going gangbusters. But a string of bankruptcies in the business has clients cutting back on spending – and some disappearing completely. While Chainalysis, backed by GIC, says it plans to grow overall headcount in 2023, the cuts are the wrong sign for those who use its services. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

☆ Why America Should Ban Crypto
▼ + stars: | 2023-02-02 | by ( Charlie Munger | ) www.wsj.com time to read: 1 min

In the U.S. in recent years, privately owned companies have issued thousands of new cryptocurrencies, large and small. These have later become publicly traded without any governmental pre-approval of disclosures. In some cases, a big block of cryptocurrency has been sold to a promoter for almost nothing, after which the public buys in at much higher prices without fully understanding the pre-dilution in favor of the promoter.

☆ Charlie Munger says the U.S. should follow in China's footsteps and ban cryptocurrencies
▼ + stars: | 2023-02-02 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Berkshire Hathaway Vice Chairman Charlie Munger urged the U.S. government to ban cryptocurrencies like China, saying a lack of regulation enabled wretched excess and a gambling mentality. Munger, along with his business partner, Warren Buffett, have been longtime cryptocurrency skeptics, contending they are not tangible or productive assets. Second, from the early 1700s, the English Parliament banned all public trading in new common stocks and kept this ban in place for about 100 years, Munger said. "What should the U.S. do after a ban of cryptocurrencies is in place? Well, one more action might make sense: Thank the Chinese communist leader for his splendid example of uncommon sense," Munger said.

☆ Bill Gates is ‘very optimistic’ about the future: ‘Better to be born 20 years from now...than any time in the past’
▼ + stars: | 2023-01-24 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

Bill Gates spends a lot of his time sounding the alarm over existential global threats, like climate change and future pandemics. Yet the billionaire Microsoft co-founder and philanthropist says he's still "very optimistic" about humanity's future on Earth. Even with challenges facing current and future generations, Gates says anyone born in the next few decades will be better off than people born at any previous point in history. Gates asked, noting that the average lifespan for human beings has vastly improved over the past three centuries. "So, the scope of human innovation over time ... is a phenomenal story."

☆ Not sure if your rewards card is still worth the annual fee? Ask yourself these 3 questions
▼ + stars: | 2022-12-29 | by ( Mike Winters | ) www.cnbc.com time to read: +4 min

Rewards credit cards can save you money, but they also have annual fees that can cost hundreds of dollars. That's why it's a good idea to check annually whether your rewards card is still right for you, especially if your spending habits have changed. Are you using your rewards card correctly? At that rate, paying off a credit card balance of $1,000 with monthly $50 payments will cost you $273 in interest alone. To ensure your card is worth the annual fee, check your credit card statements to see how much you actually spend on different categories, like dining, groceries or travel.

☆ Stop complaining, says billionaire investor Charlie Munger: 'Everybody's five times better off than they used to be'
▼ + stars: | 2022-12-27 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

Billionaire Charlie Munger thinks we should all be a lot happier. During that annual meeting, Munger complained that envy is a driving factor for too many people today. In 2019, Munger downplayed the effects of wealth and income inequality, and claimed that the politicians who were "screaming about it are idiots." At the Daily Journal's annual meeting this year, he added that most people's concerns over wealth inequality and criticisms of the extremely wealthy were "motivated" by envy. Sign up now: Get smarter about your money and career with our weekly newsletterDon't miss: Billionaire investor Charlie Munger: ‘The world is not driven by greed, it’s driven by envy’

☆ Dairy Queen is one of Warren Buffett's most-famous businesses. CEO Troy Bader laid out the benefits of Berkshire Hathaway's ownership, and explained how he's navigating the pandemic, inflation, and ne
▼ + stars: | 2022-12-23 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +5 min

Warren Buffett's Berkshire Hathaway acquired Dairy Queen for nearly $600 million in 1998. Dairy Queen CEO Troy Bader told Insider that Berkshire's ownership lets him invest for the long run. Bader explained how Dairy Queen has dealt with the pandemic, inflation, and new customer demands. "What he feels is really what we see with so many of our customers, who have this different connection with Dairy Queen." Higher prices, less moneyInflation is dealing a one-two punch to Dairy Queen by raising its costs and squeezing its customers, Bader said.

☆ Warren Buffett's favorite Christmas gifts for his family? $10,000 in cash, dresses, and boxes of See's Candies.
▼ + stars: | 2022-12-23 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

Warren Buffett has given dresses, chocolates, and stacks of cash to family members for Christmas. "I would go over and they'd wheel out the dresses," Buffett said. In 2013, the card showed Buffett dressed as Walter White from "Breaking Bad" with the message "Have yourself a Meth-y Little Christmas." In 2018, the card showed Buffett wearing a T-shirt reading "The Next Charlie Munger" with the caption "Aiming High in 2019." Read more: David Rubenstein sees Warren Buffett as the ultimate investor.

☆ Warren Buffett's right-hand man Charlie Munger might not get his windowless dorm built at UC-Santa Barbara
▼ + stars: | 2022-12-23 | by ( Aaron Mok | ) www.businessinsider.com time to read: +4 min

UC-Santa Barbara's Munger Hall may not be built after 13 people said it could pose health risks. The dorm — backed by a $200 million donation from Munger — was supposed to be 11-stories high with 4,500 beds across 70 square-foot bedrooms with no windows, according to the Times. Munger Hall has been criticized for its lack of windows in the bedrooms where students would live. Panelists said that Munger Hall could pose challenges to the mental and physical health of students, Vice reported. As far as the report, Munger told The Real Deal that the it's "all horseshit," adding that "it's ridiculous."

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