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☆ FTX suggests Sam Bankman-Fried transferred assets to Bahamas government custody after bankruptcy: Filing
▼ + stars: | 2022-11-17 | by ( Rohan Goswami | ) www.cnbc.com time to read: +2 min

FTX in a bombshell emergency court filing Thursday said evidence suggests Bahamian regulators directed former CEO Sam Bankman-Fried to gain "unauthorized access" to FTX systems to obtain digital assets belonging to the company after it had filed for bankruptcy protection. The filing said that Bankman-Fried transferred those assets to the custody of the Bahamian government. It cites an interview published by Vox on Wednesday where Bankman-Fried expresses serious disdain for regulators. In that motion, FTX said the alleged conduct puts "in serious question" a request by Bahamian regulators for recognition as liquidators in the bankruptcy. The appointment of the JPLs and recognition of the Chapter 15 Case are thus in serious question," the filing continued.

☆ Warren Buffett's Berkshire Hathaway reveals it built a $4 billion stake in Taiwan Semiconductor - and added Jefferies to its stock portfolio
▼ + stars: | 2022-11-14 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Warren Buffett's Berkshire Hathaway disclosed a new, $4 billion stake in Taiwan Semiconductor. Berkshire boosted its Chevron and Oxy bets, and slashed its wagers on US Bancorp and BNY Mellon. The total value of Berkshire's US stock portfolio, which excludes overseas holdings such as BYD, declined slightly to $296 billion. The report revealed it spent a net $3.7 billion on stocks in the period, and foreshadowed its enlarged Chevron stake. It also roughly quadrupled it stake in Chevron in the first quarter, and now counts the oil major among the five most-valuable holdings in its stock portfolio.

☆ Sam Bankman-Fried steps down as FTX CEO as his crypto exchange files for bankruptcy
▼ + stars: | 2022-11-11 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +3 min

Sam Bankman-Fried, founder and chief executive officer of FTX Cryptocurrency Derivatives Exchange, during an interview on an episode of Bloomberg Wealth with David Rubenstein in New York, US, on Wednesday, Aug 17, 2022. Sam Bankman-Fried's cryptocurrency exchange FTX has filed for Chapter 11 bankruptcy in the U.S., according to a company statement posted on Twitter. CNBC reached out to Adam Landis, founding partner of Landis Rath & Cobb LLP, who filed the Chapter 11 proceedings on behalf of FTX. FTX founder Sam Bankman-Fried admitted on Thursday that he "f---ed up." The Chapter 11 proceedings exclude the following subsidiaries: LedgerX LLC, FTX Digital Markets Ltd., FTX Australia Pty Ltd., and FTX Express Pay Ltd.

☆ Warren Buffett's Berkshire Hathaway reveals it sold about $4 billion of US Bancorp stock - and likely scored a $600 million profit
▼ + stars: | 2022-11-11 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Warren Buffett's Berkshire Hathaway sold over 60% of its US Bancorp stock for about $4 billion. Buffett's company has counted US Bancorp among its largest holdings since 2007, and owned 145 million shares worth $8.1 billion at the start of January. Now it holds just 53 million shares valued at $2.4 billion, reflecting its stock sales and the 22% drop in US Bancorp stock this year. US Bancorp shares traded around $45 a share between July 1 and October 31, the period when the vast majority of selling took place. Buffett and his team will file a portfolio update next week, confirming how much US Bancorp stock they sold in the quarter.

☆ Warren Buffett's Berkshire Hathaway likely boosted its Chevron bet last quarter. Here are 6 key insights from its Q3 earnings.
▼ + stars: | 2022-11-08 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +5 min

Berkshire benefited from higher interest rates and a stronger US dollar. It also revealed the billion-dollar hit to its insurance business from Hurricane Ian, and the positive impact of higher interest rates and a stronger US dollar on its operations. The discrepancy suggests it raised its stake to about 170 million shares last quarter. It owned about 908 million shares of the iPhone maker at the end of December, and purchased nearly 4 million more shares in the second quarter of this year. The US central bank's rate increases boosted the amount of interest that Berkshire earned on its cash and Treasury bills.

☆ Carlyle's David Rubenstein on how to invest now
▼ + stars: | 2022-10-31 | by ( Chris Taylor | ) www.reuters.com time to read: +5 min

It may have been drawn up under England's King John, but these days it belongs to David M. Rubenstein. To learn how Rubenstein amassed those kind of resources, look no further than his new book, “How To Invest: Masters on the Craft." At that time, there was not a whole lot of investing going on, with his father working a blue-collar existence for the Post Office, living paycheck-to-paycheck. Nevertheless, Rubenstein seems to have done alright, with a net worth currently estimated by Forbes at $3.2 billion. RUBENSTEIN'S ADVICE TO INVESTORS BIG AND SMALLWhen it comes to philanthropy, Rubenstein takes a surprisingly hands-on approach – no foundation, no staff, just him.

☆ First on CNN: Senate Democrat warns Fed it’s ‘foolish’ to keep lifting interest rates
▼ + stars: | 2022-10-27 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

But the concern is the Fed is doing too much too soon,” Hickenlooper wrote in a letter on Thursday to Fed Chairman Jerome Powell. In a bid to get inflation under control, the Fed has raised interest rates more rapidly than at any point since the early 1980s under legendary Fed chairman Paul Volcker. “I write to urge the Federal Reserve to pause and seriously consider the negative consequences of again raising interest rates,” Hickenlooper wrote, adding that families have been stung by surging borrowing costs for homes and cars. “Will raising interest rates lead to more oil, lower prices of oil, more food, lower prices of food? Former President Donald Trump repeatedly slammed Powell — his handpicked Fed chairman — for raising interest rates and shrinking the Fed’s balance sheet.

☆ Elon Musk floated his pro-Kremlin Ukraine peace plan at a private summit 10 days before tweeting it, report says
▼ + stars: | 2022-10-26 | by ( Tom Porter | ) www.businessinsider.com time to read: +2 min

Elon Musk discussed his Ukraine peace plan at a secretive meeting of billionaires, The NYT reported. Musk was criticized because the plan repeated Russian arguments about how the war should end. According to the report, Musk, the founder of Tesla and the world's richest man, made the comments at an elite event in Aspen, Colorado, in September called The Weekend. Ten days later, Musk tweeted the plan, which appeared new at the time. Musk has provided, and partly funded, the Starlink satellite system to Ukraine, allowing its military to stay connected in a warzone.

☆ Investor Vinod Khosla says focusing on 2030 climate targets is the wrong approach
▼ + stars: | 2022-10-25 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +7 min

Why Khosla thinks short-term goals are a mistakeFocusing on "short term goals will force us to deploy suboptimal technology," Khosla told CNBC. And if it doesn't do that, it's the wrong technology," Khosla told CNBC. Nuclear fusion is one example of the kind of breakthrough technology Khosla considers critical, but which will not be commercialized by 2030. "But I'm not interested in today's geothermal, because it is such a niche — it doesn't scale," Khosla told CNBC. And that's what we need," Khosla said.

☆ Elon Musk says he's not like Warren Buffett as he actually makes things - and rules out copying Berkshire Hathaway's model
▼ + stars: | 2022-10-20 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Elon Musk made a clear distinction between himself and Warren Buffett on an earnings call. "I'm not Warren Buffett," Musk said on the call. "I'm not Warren Buffett's biggest fan, frankly," Musk said last year. After Musk dismissed Buffett's idea of competitive moats as "lame" in 2018, the Berkshire chief responded: "Elon may turn things upside down in some areas. Read more: David Rubenstein sees Warren Buffett as the ultimate investor.

☆ Goldman Sachs' humbling U-turn on its consumer banking ambitions
▼ + stars: | 2022-10-19 | by ( Jeffrey Cane | ) www.businessinsider.com time to read: +5 min

Third-quarter results from the big Wall Street banks are now behind us, and they were … pretty good, all things considered? Goldman Sachs reported yesterday, and while it may not be the biggest nor the best bank (OK, No. Trading and dealmaking made the reputation of the 153-year-old Wall Street firm, but the spotlight lately has been on its struggling consumer banking unit, Marcus. The consumer business "doesn't make money at the moment," Solomon acknowledged, but he added: "The deposits are hugely valuable. From Wall Street darlings to prey.

☆ Billionaire hedge fund titan Seth Klarman reveals how he finds investments that meet his standards and his 2 favorite principles of investing
▼ + stars: | 2022-10-18 | by ( David Rubenstein | ) www.businessinsider.com time to read: +7 min

David Rubenstein: You and Warren Buffett, with whom you have often been compared, are probably the two best-known and successful value investors. What skills are required to be a successful value investor? Simon and Schuster: The basic practice of value investing is trying to buy dollars for 50 cents, sometimes 60 or70 cents — in effect, buying bargains. Early on in the 1920s and 1930s, Benjamin Graham wrote about value investing. In terms of the requirements to be a value investor, the skill set, first of all, people need to be patient and disciplined.

☆ Marc Andreessen on the best investment advice he's ever received and 4 other money insights
▼ + stars: | 2022-10-16 | by ( David Rubenstein | ) www.businessinsider.com time to read: +4 min

Marc Andreessen: From Warren Buffett, probably: Put all your eggs in one basket and watch that basket. Marc Andreessen: People read about something in the paper, see it on TV, and take a flyer without deeply understanding it. Marc Andreessen: For most forms of investing, the mistakes are the investments you make where you lose money. David Rubenstein: If somebody wants to be a venture capital investor, what would you like them to know most about the art of` venture capital investing? Marc Andreessen: It's an alchemy of understanding people, understanding technology, understanding markets.

☆ Inflation has yet to peak, CFOs say, and recession is already here or soon to hit
▼ + stars: | 2022-09-29 | by ( Ian Thomas | ) www.cnbc.com time to read: +4 min

The CNBC CFO Council survey is a sample of the current outlook among top financial officers. More than a quarter of the CFOs say inflation is the biggest external risk factor facing their businesses. With persistent inflation, CFOs have shifted their view regarding the timing of a recession as a result of the Fed's rate hikes. Nineteen percent of CFOs now say they expect a recession in the fourth quarter of this year, up from 13% in Q2. The CNBC survey finds companies still in hiring mode, with 57% of CFOs saying they expect to add to headcount in the next year.

☆ Waiting for market bottom is a mistake and investors should buy now, David Rubenstein says
▼ + stars: | 2022-09-28 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +2 min

Investors looking to scoop up deals and position themselves for long-term growth should act now instead of waiting for stocks to bottom, David Rubenstein said Wednesday. "People shouldn't be afraid of going in and buying things now," The Carlyle Group co-founder said during CNBC's Delivering Alpha Investor Summit in New York City. He also noted that investors should start buying now rather than try to time the market bottom. Still, for investors that want to take advantage of the market, she recommends active management. "You have to find active [management] and you have to go into thematic areas where you can generate some returns," she said.

☆ Reverse Currency War: Why central banks are trying to play catch-up with a record dollar and a hawkish Fed
▼ + stars: | 2022-09-28 | by ( Phil Rosen | ) www.businessinsider.com time to read: +7 min

A reverse currency war is underway, with central banks around the world struggling to keep pace with an aggressive Fed and a soaring dollar that's climbing like it's got somewhere better to be. Rather than trying to devalue currencies like in traditional "currency wars," policymakers are doing the reverse in trying to engineer gains. The thinking behind a reverse currency war goes something like this: Central banks want to make their currencies stronger — via monetary policy tightening — so that the US dollar doesn't leave them in the dust. And with central banks focused on monetary tightening, these reverse currency wars raise the odds of a widespread economic downturn. Last week's rate-hike blitz showed that central banks will trigger a downturn, the asset manager said.

☆ Bankrupt crypto lender Voyager to sell assets to Sam Bankman-Fried's FTX for $1.4 billion
▼ + stars: | 2022-09-27 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

Sam Bankman-Fried, founder and chief executive officer of FTX Cryptocurrency Derivatives Exchange, speaks during an interview on an episode of Bloomberg Wealth with David Rubenstein in New York, US, on Wednesday, Aug 17, 2022. Customers of beleaguered cryptocurrency lender Voyager Digital may find some solace in the news that FTX, the bitcoin exchange founded by billionaire Sam Bankman-Fried, is set to take on the company's assets after winning a bankruptcy auction. After several rounds of bidding, FTX's U.S. subsidiary was selected as the highest bidder for Voyager's assets, the companies said in a statement late Monday. The bid was valued at roughly $1.4 billion, a figure that includes $1.3 billion for the fair market value of Voyager's digital assets, plus a $111 million "additional consideration" in anticipated incremental value. The sale of Voyager's assets to FTX U.S. is dependent on a vote by creditors, as well as "other customary closing conditions," according to the statement.

☆ WATCH: Billionaire investor David Rubenstein breaks down the key qualities of the greatest money managers he's interviewed — and the most important things you should consider before buying index funds
▼ + stars: | 2022-09-27 | by ( Laila Maidan | ) www.businessinsider.com time to read: +4 min

David Rubenstein says defying conventional wisdom is a top trait of great investors. Average investors should stick to index funds or bond index funds that track the market. Rubenstein shared the top three traits of a great investor, the first of which is the ability to defy conventional wisdom. Finally, these great investors embody an intellectual curiosity that exceeds the average person's. When it comes to advise for someone who isn't a professional investor or doesn't have time for in-depth research, Rubenstein recommends sticking to index funds or bond index funds that track the market.

☆ 'Moneyball' manager Billy Beane says Warren Buffett's investing lessons apply to baseball too - and Seth Klarman agrees
▼ + stars: | 2022-09-24 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +4 min

"Moneyball" star Billy Beane said Warren Buffett and Charlie Munger's lessons apply to baseball. Author Michael Lewis profiled Beane in "Moneyball," and Brad Pitt played the baseball executive in the movie adaptation of the book. "It's about finding value in athletes, in baseball players — but those principles apply across areas," the billionaire investor and Baupost Group CEO said. Klarman has been heralded as "the next Warren Buffett," including by the Berkshire chief himself. Read more: Table tennis champion Ariel Hsing has been friends with Warren Buffett for more than a decade.

☆ What Liz Cheney, Kanye West, Oprah Winfrey, The Rock, and Andrew Yang have in common: They're third-party alternatives to the Biden-Trump 2024 presidential binary.
▼ + stars: | 2022-09-23 | by ( Hanna Kang | ) www.businessinsider.com time to read: +2 min

Oprah WinfreyGetty Images/Getty Images for Global CitizenOne of the most influential women in the world, Oprah Winfrey's presidential ambitions have long been a subject of celebrity-watching chatter. "I want all the girls watching here, now, to know that a new day is on the horizon," she said. Winfrey said she had met with someone who offered to help with a political campaign, but she declined. "I've always felt very secure and confident with myself in knowing what I could do and what I could not," Winfrey told Brown. "I thought, oh gee, I don't have the experience, I don't know enough, and now I'm thinking, 'Oh, oh?'"

☆ The Fed likely knows interest rate hikes will produce a hard landing, says David Rubenstein
▼ + stars: | 2022-09-22 | 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 EmailThe Fed likely knows interest rate hikes will produce a hard landing, says David RubensteinBillionaire investor and philanthropist David Rubenstein, co-founder of the Carlyle Group, joins CNBC's 'Squawk Box' to discuss his new book 'How to Invest: Masters on the Craft,' weigh in on the Federal Reserve's latest interest rate hike, and more.

☆ Watch CNBC's full interview with billionaire investor David Rubenstein on the Fed, markets and more
▼ + stars: | 2022-09-22 | 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 EmailWatch CNBC's full interview with billionaire investor David Rubenstein on the Fed, markets and moreBillionaire investor and philanthropist David Rubenstein, co-founder of the Carlyle Group, joins CNBC's 'Squawk Box' to discuss his new book 'How to Invest: Masters on the Craft,' weigh in on the Federal Reserve's latest interest rate hike, and more. Rubenstein also explains why he thinks now is not the time to "rush out of the markets" amid the Fed's latest moves. "I think there's going to be a little bit of pain for at least six months to a year," Rubenstein tells CNBC.

☆ The best returns come when markets are depressed as they are now, but there will be more pain for 6-12 months, billionaire David Rubenstein says
▼ + stars: | 2022-09-22 | by ( Brian Evans | ) www.businessinsider.com time to read: +1 min

Billionaire David Rubenstein thinks the market downswing is a buying opportunity. The Carlyle co-founder told CNBC that investors shouldn't exit markets too soon. "What Warren Buffet and others have done historically is buy when the markets are cheap or when there's blood in the streets," he said. "Right now is not a time to panic and rush out of the markets, in my view." He added that while some traders are growing anxious, "the best returns probably come from times when markets are depressed like this."

☆ The Fed has to balance its latest rate hike with trying not to tank the economy. Here's what to know.
▼ + stars: | 2022-09-21 | by ( Phil Rosen | ) www.businessinsider.com time to read: +7 min

Today, I'm breaking down what to know about the Fed's third jumbo rate hike, and how markets could look in its aftermath. In this March 21, 2018, file photo, Federal Reserve Chairman Jerome Powell speaks following the Federal Open Market Committee meeting in Washington. A third, outsized rate hike is an unprecedented move by the Federal Reserve. For this meeting in particular, billionaire David Rubenstein warned that a 100-basis-point hike this week would shock and depress markets and investors. What's on deck for markets after a third consecutive large rate hike?

☆ Dow slides 300 points as investors brace for rate-hike decision from the Federal Reserve
▼ + stars: | 2022-09-20 | by ( Brian Evans | ) www.businessinsider.com time to read: +1 min

US stocks closed lower Tuesday with the Dow Jones Industrial Average shedding more than 300 points. Investors remain fixated on the central bank ahead of the next rate hike announcement on Wednesday. The 2-year Treasury yield surged as high as 3.983% intraday, the highest since 2007. Stocks are under pressure from an anticipated 75-basis-point rate hike from the central bank, which will announce its policy decision Wednesday. The 2-year Treasury yield, which is sensitive to Fed moves, surged as high as 3.983% intraday to hit the highest rate since 2007.

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