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☆ This billionaire CEO uses 'pattern recognition' to make business decisions — and so does Warren Buffett
▼ + stars: | 2024-01-22 | by ( Sawdah Bhaimiya | ) www.businessinsider.com time to read: +2 min

Read previewA billionaire CEO said he uses "pattern recognition" to help him make smart business decisions. Michael Rubin, the founder and CEO of sports merchandise company Fanatics, told Jay Shetty's podcast about the role that pattern recognition plays in business success. Or you can find out that person was a little bit understated, but they're a beast, they've got huge followership, they're super smart, they've got an unrelenting work ethic." Rubin added: "So to me pattern recognition is everything — I use it in everything that I do." Alice Schroeder, Buffett's biographer, said in a 2010 interview: "Pattern recognition is one of his primary skills and perhaps his greatest skill."

Persons: —, Michael Rubin, Jay Shetty's, Rubin, Shetty, " Rubin, they've, Warren Buffett, Alice Schroeder, Buffett's, Buffett, he'd Organizations: Service, Business, CNBC, Forbes, Berkshire Hathaway's, Valeant Pharmaceuticals, Health Locations: Berkshire

☆ Anne Hathaway is crowned the queen of setting personal boundaries with fans thanks to one viral clip
▼ + stars: | 2024-01-22 | by ( Charissa Cheong | ) www.businessinsider.com time to read: +4 min

A clip of Anne Hathaway appearing to interact with fans wanting a photo has gone viral. 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 . AdvertisementFans have fallen in love with the way they think Anne Hathaway dealt with people who wanted photos with her in a now-viral clip. Hathaway, like a "gentle parenting" TikTok creator, appears to use calm and direct conversation with the people in the clip to set a personal space boundary with them.

Persons: Anne Hathaway, —, Gonzalez, Hathaway, Robert Irwin, Steve, Hunter, Irwin, Joseph Quinn, Con, Ella Organizations: Service, Netflix, Independent, London Locations: TikTok

☆ These Seven Tech Stocks Are Driving the Market
▼ + stars: | 2024-01-22 | by ( Karl Russell | Joe Rennison | ) www.nytimes.com time to read: +8 min

These Seven Tech Stocks Are Driving the MarketThe S&P 500 is at a new high, and investors have just a handful of stocks to thank for it. Market value of S&P 500 companies These seven companies account for 29% of the S&P 500’s market value Alphabet $1.8 tril. Amgen Linde Qualcomm Intel Pfizer These seven companies account for 29% of the S&P 500’s market value Market value of S&P 500 companies Thermo Fisher Scientific McDonald's Cisco Sys. Berkshire Hathaway UnitedHealth Costco These seven companies account for 29% of the S&P 500’s market value Market value of S&P 500 companies Thermo Fisher Scientific Abbott Labs. Indeed, based on price alone, the seven big tech stocks were not the best performing in the S&P 500.

Persons: Jan, it’s, Berkshire Hathaway Tesla, Health Eli Lilly, Johnson Procter, Netflix Walt Disney, Amgen Linde, Wells, Merck Mastercard Eli Lilly Johnson, Johnson, JPMorgan Chase, Berkshire Hathaway, Wells Fargo Walt Disney Pfizer Amgen, Phillips Goldman, Mastercard Eli Lilly Abbvie Johnson, Chase Organizations: Apple, Meta, Microsoft, Nvidia, Tesla, Berkshire, JPMorgan Chase United, Health, Broadcom Johnson, Gamble Exxon Mobil Home Depot Mastercard Costco Walmart Oracle Merck Accenture, Mobile Wells Fargo PepsiCo Comcast, Intuit, Fisher, Netflix Walt, Netflix Walt Disney Cisco Sys, Verizon Abbott Labs, Amgen, Amgen Linde Qualcomm Intel Pfizer, Cisco Sys, Abbott Labs, Accenture Netflix Linde Intel PepsiCo Oracle Walmart, Wells Fargo Walt Disney Qualcomm, Mobile Comcast Intuit, Verizon, Pfizer, Merck Mastercard, Johnson Nvidia, Visa Exxon Mobil Apple, Broadcom, JPMorgan, JPMorgan Chase Procter, Gamble, Costco, Fisher Scientific Abbott Labs, Cisco Systems Accenture PepsiCo, Netflix Linde Intel Oracle Walmart, Wells Fargo Walt Disney Pfizer, Mobile, Comcast Intuit Verizon Qualcomm Amazon, Merck Uber Tech, P Global American, Phillips Goldman Sachs IBM UPS Honeywell Boeing, Mastercard, Adobe Exxon Mobil Apple, Broadcom Chevron Home, Micro Devices, Chase Procter, Berkshire Hathaway UnitedHealth Bank of America Costco, Royal, General, Amazon, Big Tech, IBM, Exxon, General Electric, & & + + + Locations: Berkshire, Royal Caribbean

☆ Top analyst Mike Mayo turns bullish on Citigroup with Warren Buffett as an influential investor
▼ + stars: | 2024-01-22 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Widely followed bank analyst Mike Mayo named Citigroup his top pick, saying he realized the embattled bank is under the influence of none other than Warren Buffett. "Until now, it was unclear to us and many investors whether this Citi stake was really a 'Warren Buffett investment' vs. somebody else at his firm. Earlier this month, Citigroup cut 10% of its workforce in a bid to boost the bank's results and stock price. C 1Y mountain Citigroup Mayo said Buffett seems to support his belief that Citigroup's overhaul could make a significant difference this time around. "Warren Buffett supports the CEO's restructuring.

Persons: Mike Mayo, Warren Buffett, Wells Fargo's Mayo, Buffett, Berkshire Hathaway, Jane Fraser, Omaha hasn't, Mayo, Goldman Sachs, Brian Moynihan, Fraser, couldn't, Citigroup Mayo Organizations: Citigroup, Reuters, Berkshire, Citi, U.S . Bancorp, JPMorgan, Bank of America, Apple, CNBC, U.S Locations: Omaha, Mayo, Berkshire, Wells Fargo, Bank

☆ Mandatory retirement ages for boards and CEOs. What you need to know
▼ + stars: | 2024-01-21 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +9 min

Boards are most likely to have mandatory retirement age policiesHaving a mandatory retirement policy for board members is up to the discretion of individual companies. “In 2023, 69% of [S&P 500] boards reported having a mandatory retirement policy — down one point from 2022,” according to an August 2023 report from executive search firm Spencer Stuart. Many other public safety occupations do have mandatory retirement ages. The whys behind mandatory retirement agesThere may be varied stated reasons for having a mandatory retirement age, such as opening up the pipeline for younger talent to have more opportunities. For that reason, advocates for older workers, like the AARP, contend all mandatory retirement ages should be eliminated, even for demanding jobs involving public safety.

Persons: Al Gore, Russell, —, Berkshire Hathaway’s Warren Buffett, Spencer Stuart, ”, Matteo Tonello, Tonnello, Tonello, Brian Cornell, Dave Calhoun, Thomas McKinney, McKinney, “, Mary O’Neill, ” O’Neill Organizations: New, New York CNN, Former, Berkshire, Conference Board, Corporate America, The Conference Board, Boeing, American College of Surgeons, Capitol Police, U.S ., Personnel Management, Commission, AARP Locations: New York, Corporate America, Corporate, Calhoun, Castronovo, McKinney, , New Jersey, —, Federal, New York State

☆ Warren Buffett's secret investment sauce shows up in little-known holdings — a Nebraska farm and NYC property
▼ + stars: | 2024-01-21 | by ( Yun Li | ) www.cnbc.com time to read: +4 min

The farm cost Buffett $280,000, a bargain after the 1980s bubble in farm prices burst, leaving many Iowa and Nebraska banks saddled with sour loans. NYU retail The second investment Buffett discussed was a New York retail property that he co-purchased in 1993 through an introduction by Larry Silverstein, Salomon Brothers' landlord when Buffett briefly stepped in as the investment bank's CEO. "If you don't feel comfortable making a rough estimate of the asset's future earnings, just forget it and move on." Key to investing Through telling stories of such specific assets, the legendary investor taught his followers that what matters the most to any investment is its future earnings. If you don't feel comfortable making a rough estimate of the asset's future earnings, just forget it and move on," Buffett said.

Persons: Warren Buffett, Buffett, Berkshire Hathaway, Larry Silverstein, Salomon Brothers, Benjamin Graham, Charlie Munger Organizations: Apple, New York University, Federal Deposit Insurance Corporation, Buffett, NYU, NYU wasn't, Columbia University Locations: Nebraska, New, Manhattan, Omaha, Iowa, New York

☆ Buffett's Berkshire Hathaway could be headed for its next major breakout, according to the charts
▼ + stars: | 2024-01-18 | by ( Frank Cappelleri | ) www.cnbc.com time to read: +3 min

The last few breakout attempts in late 2023 failed to attract enough interested buyers to push beyond the $360-$370 zone. Relative strength BRK.B also has displayed strong periods of relative strength vs. the financial sector. ('XLF' is the Financial Select SPDR tracking the financial sector in the S & P 500.) In other words, the stock can give investors exposure to the financial sector without having to endure the same risk to rising rates as banks. BRK.B last pushed to a new high vs. the S & P 500 in late 2018, but that breakout didn't hold.

Persons: Berkshire Hathaway, BRK.B, That's, Frank Cappelleri Locations: Berkshire

Thursday's analyst calls featured an upgrade to a car rental stock and a big downgrade to an airline. The bank also hiked his price target on the tech giant to $225 per share, implying upside of 23%. — Pia Singh 5:36 a.m.: Citi downgrades Spirit Airlines to sell Citi is throwing in the towel on Spirit Airlines . Week to date, Spirit shares are down nearly 60%. Spirit shares were down more than 4% in the premarket.

Persons: Morgan Stanley, Hertz, Andrew Percoco, Percoco, — Pia Singh, Wamsi Mohan, Fred Imbert, Kirk Materne, Materne, Dan Dolev, Dolev, he's, CFRA, Kenneth Leon, Berkshire Hathaway, Leon, Ranjan Sharma, Sharma, bode, Adam Jonas, Jonas, Morgan, Stephen Trent, Trent Organizations: CNBC, flipside, Citi, Spirit Airlines, JetBlue, Bank of America, Apple Bank of America, Apple, Microsoft, ISI, Activision, Activision Blizzard, Mizuho, Fidelity National Information Services, Paramount Global, RedBird Capital, Warner Bros ., Comcast, Paramount's, Showtime, Paramount, JPMorgan, Grab Holdings, Hertz Global Holdings, Jan, Citi downgrades Spirit Airlines, Spirit, Airlines Locations: Berkshire, 1H24, Wednesday's

KNOXVILLE, Tenn. (AP) — Warren Buffett’s Berkshire Hathaway is buying the remaining 20% of the Pilot truck stop business it does not already own from the Haslam family, the two announced on Tuesday. Berkshire confirmed it now owns all of Pilot Travel Centers. The sale follows the settlement of a lawsuit earlier this month that pitted Cleveland Browns owner Jimmy Haslam against Buffett’s Berkshire over the Pilot stake's value. The 2017 agreements also gave Pilot Corp. an annual 60-day opportunity, beginning Jan. 1 this year, to sell its remaining 20% interest in PTC to Berkshire. The sale price would be calculated using PTC’s earnings in the prior year.

Persons: — Warren, Berkshire Hathaway, Haslam, Jimmy Haslam, Jim Haslam II Organizations: . Berkshire, Travel Centers, Cleveland Browns, Buffett’s Berkshire, Berkshire, PTC, Pilot Corp, Wilco Locations: KNOXVILLE, Tenn, Berkshire, Knoxville , Tennessee, U.S, Gate City , Virginia

☆ Premarket stocks: The rich and powerful are meeting in Davos. Here’s what they’re talking about
▼ + stars: | 2024-01-16 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

Climate catastrophes: Climate change is a hot topic as leaders meet to discuss balancing economic growth with sustainability. Davos comes just days after scientists around the globe reported that the average temperatures last year reached a new record high. The report also said that cooperation among global leaders on the issue is scarce. So while leaders will likely discuss the use of fossil fuels and green development, there may not be much agreement. Leaders gathered in Davos Sunday to discuss Ukrainian President Zelensky’s 10-point peace plan to end Russia’s war with his country.

Persons: Isaac Herzog, Volodymyr Zelensky, Emmanuel Macron, Li Qiang, Antony Blinken, Jake Sullivan, John Kerry, Satya Nadella, Sam Altman, Jamie Dimon, Brian Moynihan, Larry Fink, Donald Trump, ”, Philipp Hildebrand, CNN’s Richard Quest, ” “, ” Nicolai Tangen, CNN’s, “, Kristalina Georgieva, OpenAI’s Altman, Microsoft’s, Zelensky’s, JPMorgan’s Dimon, Herzog, Klaus Schwab, Tami Luhby, Elon Musk, Bernard Arnault, Jeff Bezos, Larry Ellison, Warren Buffett, Nabil Ahmed, ” Ahmed, Jordan Valinsky, Comité Organizations: New, New York CNN, World Economic, National, Business, Microsoft, JPMorgan, Bank of America, BlackRock, Republican, GOP, ” BlackRock, Bank, Norges Bank, International Monetary Fund, IMF, State, Amazon, Oracle, Berkshire Hathaway, Oxfam, Workers Locations: New York, Davos, United States, Iowa, Europe, Taiwan, India, Mexico, China, Covid, Champagne, France

☆ Haslam family sells Berkshire Hathaway remaining 20% share of Pilot Travel Centers
▼ + stars: | 2024-01-16 | by ( Dan Mangan | ) www.cnbc.com time to read: +1 min

Jimmy Haslam, CEO of Pilot Flying J. and Warren Buffett, Chairman and CEO of Berkshire Hathaway. The Haslam family on Tuesday said its Pilot Corporation had closed the sale of its remaining 20% ownership interest in truck-stop giant Pilot Travel Centers to Berkshire Hathaway . That settlement avoided what was scheduled to be a two-day trial beginning Jan. 8, with testimony from Berkshire Hathaway executive Greg Abel, the designated successor to company CEO Warren Buffett. CNBC has requested comment from Berkshire Hathaway, which in a regulatory filing last year listed the Haslams' noncontrolling interest in Pilot Travel Centers at a value of around $3.2 billion. PTC is the largest operator of travel centers in North America, with more than 750 locations under the Pilot and Flying J brands.

Persons: Jimmy Haslam, Warren Buffett, Berkshire Hathaway, Haslam, Greg Abel Organizations: Berkshire, Pilot Corporation, Centers, Travel Centers, CNBC, Travel, PTC Locations: Berkshire, North America

☆ 10 years in, GM CEO Mary Barra has built her legacy on change and crisis. 2024 will be no different
▼ + stars: | 2024-01-15 | by ( Michael Wayland | ) www.cnbc.com time to read: +12 min

In this article GM Follow your favorite stocks CREATE FREE ACCOUNTMary Barra, CEO of General Motors, at the New York Stock Exchange, Nov. 17, 2022. GM's EV sales last year totaled 75,883 units, or 2.9% of the company's overall sales. However, a vast majority of GM's EV sales were from its now-discontinued Chevrolet Bolt models. Mary Barra, GM chair and CEO, speaks during the unveiling of the Cadillac Celestiq electric sedan in Los Angeles, Oct. 17, 2022. General Motors CEO Mary Barra testifies during a House Energy and Commerce Committee hearing on Capitol Hill in Washington, April 1, 2014.

Persons: Mary Barra, Mary Barra's, Barra, She's, Tesla, Michelle Krebs, Warren Buffett's Berkshire, EVs hasn't, Frederic J, Brown, there's, Cruise, Cruise's, Jeff Kowalsky, Darryll Harrison Jr, Mary, Barra's, Dan Akerson, Dan Ammann, Mark Reuss, Steve Fecht, Stephanie Brinley, they've, Lyft, David Einhorn's, Einhorn Organizations: General Motors, New York Stock Exchange, NYSE DETROIT, Detroit, GM, Wall, U.S, EV, Cox Automotive, Warren Buffett's Berkshire Hathaway, —, Hyundai, Kia, Bolt, EVs, Cadillac, AFP, Getty, Honda Motor, Automotive Press Association, Bloomberg, Cruise, CNBC, GM Renaissance Center Global Headquarters, P Global Mobility, Apple, Google, Energy, Commerce, Capitol Locations: Los Angeles, North America, Barra, San Francisco, Detroit, Washington

☆ Here's why Warren Buffett calls airline stocks hazardous to your investment health
▼ + stars: | 2024-01-14 | by ( Yun Li | ) www.cnbc.com time to read: +5 min

With a midair emergency, disappointing profit forecast and more aircraft groundings after only two weeks, the airline industry is already off to a turbulent 2024. "It's a labor intensive, capital intensive, largely commodity-type business," Buffett said during the annual meeting of Berkshire shareholders in 2013. Selling airlines In 2020, Buffett revealed that Berkshire sold all of its equity holdings in the U.S. airline industry. That included stakes worth a combined $4 billion in all four legacy carriers — United Airlines , American Airlines , Southwest Airlines and Delta Air Lines . And I don't know how it's changed and I hope it corrects itself in a reasonably prompt way," Buffett said then.

Persons: Warren Buffett, Buffett, Berkshire Hathaway, That's, he's, I've, Charlie Munger, it's, Donald Trump, ’ Buffett, Kitty Hawk, Orville, Richard Branson Organizations: Berkshire, U.S, — United Airlines, American Airlines, Southwest Airlines, Delta Air Lines, Buffett, U.S . Global JETS ETF, JETS, Chicago Cubs, CNBC, Virgin Atlantic Airways Locations: Omaha, NetJets

☆ The wealth of the world’s five richest men more than doubled since 2020
▼ + stars: | 2024-01-14 | by ( Tami Luhby | ) edition.cnn.com time to read: +4 min

His wealth soared to $245.5 billion at the end of November, up 737% from March 2020, after accounting for inflation. Amazon founder Jeff Bezos had a fortune of $167.4 billion, up 24%; while Oracle founder Larry Ellison’s wealth totaled $145.5 billion, up 107%. US billionaires, many of whom derive their wealth from the equity in the companies they lead, are $1.6 trillion richer. Seven out of 10 of the world’s largest public companies have either a billionaire CEO or a billionaire as its principal shareholder. What’s more, the top 1% holds 43% of the world’s financial assets, according to Oxfam, drawing on data from Wealth X.

Persons: Nabil Ahmed, ” Ahmed, Elon Musk, Bernard Arnault, Jeff Bezos, Larry, Warren Buffett, Amitabh Behar Organizations: CNN, Forbes, Oxfam, Workers, Tesla, SpaceX, Amazon, Oracle, Berkshire Hathaway, Wealth, Oxfam International’s Locations: Davos, Switzerland, United States, Asia, Europe, “

☆ Some options trades for avoiding an asset bubble and other macroeconomic troubles
▼ + stars: | 2024-01-11 | by ( Michael Khouw | ) www.cnbc.com time to read: +9 min

There are some trades for investors looking to avoid a possible asset bubble and other potholes that could be ahead. The standard 30-year fixed mortgage rate rose even further, a function of both the rising risk-free rate and the rising spread. Buying bonds has interest rate risk. Moreover, the spread between mortgage rates and Treasuries is unusually high. Risk-free rates stay static or even rise mildly, but if the spread narrows mortgage rates could fall, a tailwind for a mortgage portfolio.

Persons: There's, Murray Rothbard, Milton Friedman, Ben Bernanke, Bernanke's, Janet Yellen, Jerome Powell, Howard Marks, Charlie Munger, Berkshire Hathaway, Marks, Steve Eisman, Neuberger Berman, they've Organizations: Federal Reserve, Fed, Federal Reserve Bank, Vanguard Value, Technology, MBS Locations: U.S, deflate, Berkshire

☆ Another Billionaire Finds It's Hard to Run a Newspaper
▼ + stars: | 2024-01-09 | by ( Peter Kafka | ) www.businessinsider.com time to read: +3 min

Another billionaire is having a hard time with his newspaper. That's because the LA Times is owned by billionaire Patrick Soon-Shiong, and it is losing money; even though Soon-Shiong is a billionaire, even billionaires have limits. Asked for comment, an LA Times spokesperson said that company leaders "don't generally make forward-looking statements about staffing levels and aren't able to comment further at this time." In 2021, The Wall Street Journal reported that Soon-Shiong was considering selling the LA Times itself , but Soon-Shiong said that was not the case. Last fall, for instance, The Washington Post — owned by Amazon founder Jeff Bezos — one of the richest men in the world — underwent giant staff cuts .

Persons: Patrick Soon, Jeff Bezos's Washington, Warren Buffett, —, Kevin Merida, Patrick, Shiong Axelle, Bauer, Griffin, It's, Shiong, doesn't, Jeff Bezos —, Warren Buffett — Organizations: Los Angeles Times, Jeff Bezos's Washington Post, Service, LA Times, LA, San Diego Union, Tribune, Street Journal, Washington Post, Amazon, Omaha, Alden Global Capital Locations: Merida, San Diego, Berkshire

☆ National Association of Realtors president says she is resigning after blackmail threat
▼ + stars: | 2024-01-08 | by ( Dan Mangan | ) www.cnbc.com time to read: +3 min

The president of the National Association of Realtors on Monday said she was resigning due to a blackmail threat that sought to "compromise" her leadership role. NAR President Tracy Kasper said she had notified the group's leadership team "that she recently received a threat to disclose a past personal, non-financial matter unless she compromised her position at NAR." President-elect Kevin Sears will immediately step into the post at the group, which represents more than 1.5 million members working in the residential and commercial real estate industries. and the majority owner of two other real estate companies in the state, according to her NAR bio. Also, the article was updated to reflect that Kasper wasn't president of the NAR in 2016.

Persons: Tracy Kasper, Kasper, Kevin Sears, Kenny Parcell, Bob Goldberg, Berkshire Hathaway, Silverhawk, CNBC's Diana Olick, Kasper wasn't Organizations: National Association of Realtors, NAR, New York Times, CNBC PRO Locations: Berkshire, Boise Valley , Idaho

☆ Tesla now has a clear China EV competitor. What’s next for BYD?
▼ + stars: | 2024-01-07 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Bernstein didn't even initiate coverage of BYD until September, with an outperform rating and price target of 359 Hong Kong dollars. BYD trades in Hong Kong, and on the Shenzhen exchange in mainland China. "I'm a long observer and investor in Tesla," Ogan said. "What I think will tip BYD like the volumes tipped Tesla is when people start realizing BYD is an energy company," Ogan said. Nomura's China autos and auto parts analyst Joel Ying likes BYD with an even higher price target of 382 Hong Kong dollars.

Persons: BYD, Bernstein didn't, Warren Buffett's Berkshire Hathaway, Taylor Ogan, Ogan, Tesla, Xiao Feng, CLSA, Joel Ying, Ying, Xiaomi's SU7, That's, — CNBC's Michael Bloom Organizations: Hong, Snow Bull, Nasdaq, Elon Musk's, HK, Hesai Tech Locations: Hong Kong, Norway, Brazil, China, Shenzhen, Asia, Europe, North America, U.S, Inovance, Ningbo Tuopu

Berkshire Hathaway settled a billion-dollar lawsuit with the Haslam family over how Berkshire accounted for the value of Pilot Travel Centers, which would affect the price paid in a forced buyout of the family's remaining stake in that truck-stop giant, both sides said Sunday night. The Haslam family and its Pilot Corp. in the suit filed this fall alleged that Berkshire Hathaway improperly adopted a form of accounting of the value of Pilot Travel Centers that would have led to a sharply lower price Berkshire would pay to acquire the family's remaining 20% stake in PTC. Berkshire in turn had accused Cleveland Browns owner Jimmy Haslam of offering payments to PTC executives to boost the value of the company so that his family would get a bigger buyout from Berkshire, which controls PTC. The Haslam family and Pilot Corp. strongly denied those claims. Berkshire and Pilot Corp. in similar press statements Sunday night said that they had reached an agreement to fully settle the Delaware Chancery case.

Persons: Berkshire Hathaway, Haslam, Greg Abel, Warren Buffett, Jimmy Haslam Organizations: Berkshire, Travel Centers, Pilot Corp, PTC, Cleveland Browns Locations: Berkshire, Delaware Chancery, New York, Delaware

☆ Here’s where to invest $50,000 in the new year, according to the pros
▼ + stars: | 2024-01-01 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +8 min

The S & P 500 rose 24% in 2023, ending the year just shy of a record closing high. The highest S & P 500 target on the Street calls for 8.7% upside from Thursday's close. A fund with exposure to small and midcap semiconductor stocks is the SPDR S & P Semiconductor ETF (XSD) . Exposure to this space can be obtained through the SPDR S & P Health Care Equipment ETF (XHE) . For these investors, Bailey likes Berkshire Hathaway , calling it a counter-cyclical sitting on a ton of cash.

Persons: Larry Adam, Raymond James, Robert Kaplan, Steven Wieting, Wieting, there's, Mike Bailey, — Bailey, Bailey, They're, Berkshire Hathaway, Eli Lilly, they're, Jack Ablin, Ablin, Rowe Price Organizations: Nasdaq, Dow Jones Industrial, CNBC Pro's, Survey, National Association for Business Economics, Dallas Federal, CNBC, Bank of America, Fed, CNBC Pro, Citi Global Wealth, Nvidia, Meta, Microsoft, P Semiconductor, P Health Care, FBB Capital Partners, Corporate, Aggregate Bond, Berkshire, Essex Property Trust, Federal Realty Trust, Rowe Price Group Locations: Essex

☆ Berkshire Hathaway didn't beat the market this year, but Warren Buffett's track record is unmatched
▼ + stars: | 2023-12-31 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Shares of Berkshire Hathaway were up about 16% this year after climbing to an all-time high, but the conglomerate still trailed the S & P 500 's 24% gain. "I recommend the S & P 500 to people," Buffett said at Berkshire's annual meeting in 2020 . But I would not want to bet my life on whether we beat the S & P 500 over the next 10 years." And I would make no promise to anybody that we will do better than the S & P 500," he said. Many Berkshire shareholders were made millionaires by Buffett's shrewd moves and patient value philosophy over the years.

Persons: Berkshire Hathaway, Warren Buffett, Buffett, LBJ, That's, I've Organizations: Berkshire, Oracle, Apple, Berkshire Hathaway Locations: Omaha, Berkshire

☆ The CEO of an A16z-backed healthcare startup is pitching a better way to save money on obesity care
▼ + stars: | 2023-12-29 | by ( ) www.businessinsider.com time to read: +8 min

Boyarsky Pratt said about 35% of Knownwell's patients come for primary care, while the rest see the company's providers for their metabolic health. They can prescribe GLP-1 drugs, but they're just one tool the company uses to treat obesity, Boyarsky Pratt said. It's also planning to partner with more health systems to help them expand access to weight care. It partners with one large system in Massachusetts now, but Boyarsky Pratt declined to disclose which one. "The data shows that the earlier patients get into a comprehensive treatment, the better for the long-term course of the disease," Boyarsky Pratt said.

Persons: —, Brooke Boyarsky Pratt, Andreessen Horowitz, Boyarsky Pratt, Knownwell, Angela Fitch, Berkadia, Fitch, Needham, Boyarsky Platt, they'd, Michael Siluk, It's Organizations: Service, Business, GLP, BMI, Medicare, Obesity Medicine Association . Obesity Medicine, University of Pennsylvania, Harvard Business School, Berkshire Hathaway, Obesity Medicine Association, Weight, Flare Capital Partners, Staff, Getty, American Academy of Pediatrics Locations: Boston, GLP, Massachusetts, Knownwell, Needham , Massachusetts, telehealth

☆ Op-ed: After crisis, Israel's economy always comes back stronger
▼ + stars: | 2023-12-12 | by ( Anat Katz | Economic Minister To North America For Israel'S Ministry Of Economy | ) www.cnbc.com time to read: +2 min

In just a few hours, the nation of Israel went from business as usual to national emergency and national mourning. Throughout this ongoing crisis, the resilience of Israel's economy has once again taken center stage. This should be no surprise, as resilience has always been a key tenet of Israel's long-term success, military or otherwise. Most recently, the Covid-19 pandemic struck a terrible blow to Israel's economy in the second quarter of 2020, reducing GDP by roughly 30% annualized. The Tel Aviv Stock Exchange's flagship TA-125 Index dropped over 8% in that war's opening days, but took only 40 days to recover to pre-war levels.

Persons: Warren Buffett, Israel, Berkshire Hathaway, Buffett Organizations: Tel, Tel Aviv Stock Exchange's, TA Locations: Israel, Lebanon, Berkshire, Lebanese, Iscar, Tel Aviv

☆ CNBC Special Podcast: Charlie Munger - A Life of Wit and Wisdom
▼ + stars: | 2023-12-12 | by ( ) www.cnbc.com time to read: 1 min

Billionaire investor Charlie Munger - the longtime right-hand man and close friend of Berkshire Hathaway CEO Warren Buffett – has died at age 99, a few weeks shy of what would have been his 100th birthday. Becky Quick, Squawk Box co-host, interviewed Munger two weeks before his death. She traveled to his home in Los Angeles for a discussion on how to live a long life, pragmatic investing and the stunning advancements of the last century. This would be their final conversation.

Persons: Charlie Munger, Berkshire Hathaway, Warren Buffett –, Becky Quick, Munger Locations: Los Angeles

☆ Occidental Petroleum to buy Permian producer CrownRock for $12 billion, raise dividend
▼ + stars: | 2023-12-11 | by ( Spencer Kimball | ) www.cnbc.com time to read: +4 min

Occidental will issue $9.1 billion in debt and about $1.7 billion in common stock to finance the transaction. Occidental Petroleum on Monday agreed to buy CrownRock , a major privately held energy producer that operates in the Permian Basin, for $12 billion. Occidental CEO Vicki Hollub said the company is purchasing CrownRock to increase its scale in the Midland Basin. Occidental is the ninth-largest energy company in the U.S. with a market capitalization of $49.7 billion. Occidental's purchase of CrownRock is the third major deal in the energy sector in less than two months.

Persons: Vicki Hollub, Hollub, CNBC's, CrownRock, Timothy Dunn, Warren Buffett's, Warren Buffett's Berkshire Hathaway, Berkshire Hathaway, Buffett, Carl Icahn, Enverus, Weeks, Hess Organizations: Midland Basin, U.S . Energy Information Administration, U.S, Occidental Petroleum, Occidental, Endeavor Resources, Houston, Lime Rock Partners, Warren Buffett's Berkshire, Anadarko Petroleum, Exxon Mobil, Natural Resources, Chevron, Pioneer, Texas Intermediate, CNBC, Energy Information Administration Locations: Occidental, Midland, Texas, U.S, Warren, Berkshire, CrownRock

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