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☆ Bill Ackman says Warren Buffett's career inspired him to take Pershing Square funds public
▼ + stars: | 2024-07-14 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

In a virtual presentation to pitch his closed-end vehicle Pershing Square USA Ltd., the billionaire investor recalled discovering Buffett's writing in his early 20s and learning from the unusual career path of the "Oracle of Omaha." And that story was really the inspiration behind launching Pershing Square." The 58-year-old Ackman has mostly achieved that goal with almost 90% of Pershing's assets now in a permanent capital format . Most of its capital is in Pershing Square Holdings, a $15 billion closed-end fund that trades in Europe. So my ambition was to get to a very similar place as Warren Buffett as promptly and as practicable," Ackman said.

Persons: Pershing, Bill Ackman, Warren Buffett, Ackman, Buffett, Berkshire Hathaway, Warren, yank Organizations: Pershing, USA, Pershing Square Holdings, New York Stock Exchange Locations: Omaha, Berkshire, Europe, Ackman, Omaha , Nebraska

☆ Warren Buffett wants his children to give away his $130 billion fortune. Does that set up a 'Succession'-style fight?
▼ + stars: | 2024-07-11 | by ( Madeline Berg | ) www.businessinsider.com time to read: +6 min

Looking at their individual organizations, the Buffett children could make for some strange charitable bedfellows once their father dies. AdvertisementWhat the Buffett children do nowSusie runs the Sherwood Foundation, which has given more than $1 billion to build equity in her native Nebraska across social justice, education, and healthcare. Howard Buffett is set to take the reins as Berkshire Hathaway non-executive chairman when his father Warren Buffett steps down. Leigh Vogel/Getty ImagesHowie, the middle Buffett, focuses his time on food security, as well as conflict mitigation and combatting human trafficking, through his Howard G. Buffett Foundation. Harold, the nonprofit expert, said the worldviews of the Buffett children should serve them well.

Persons: —, Warren Buffett, haven't, Buffett, Susan, Howard, Peter —, Susie, Peter didn't, Howie, Jacob Harold, Susan Thompson Buffett, Howard Buffett, Berkshire Hathaway, Leigh Vogel, Howard G, he's, He's, Peter, Buffett's, we've, Harold, Harry, Leona Helmsley Organizations: Service, Bloomberg, Business, Wall Street Journal, Sherwood Foundation, Susan Thompson Buffett Foundation, University of Nebraska, Inc, Democrats, Democratic, Berkshire, Buffett, Buffett Foundation, NoVo Foundation Locations: Omaha, Nebraska, Ukraine, Kingston , NY, Israel, Saharan Africa

☆ Boomer dad, who is 6 months away from retirement, has already started gifting his Gen X and millennial kids their inheritance
▼ + stars: | 2024-07-10 | by ( Kelsey Vlamis | ) www.businessinsider.com time to read: +5 min

MJ's kids include two of his own and two stepchildren, all aged between 35 to 46. AdvertisementHe's among a growing cohort of boomers who are passing on their wealth at an earlier stage in life, financial planners previously told BI. "We consider inheritances and money from families a gift of love," Gideon Drucker, president and financial planner at Drucker Wealth, previously told BI. The money he gifts to his kids comes with no strings attached — they are free to spend it how they see fit. "I'm not going to put them all into retirement with what I'm leaving them.

Persons: he's, Bill Perkins, boomers, Gideon Drucker, MJ, Here's, I've, Drucker, Warren Buffett, Bill Gates, Mark Zuckerberg, Buffet, I'm Organizations: Service, Business, Drucker Wealth Locations: Alberta, Canada

☆ Jim Cramer calls this stock the Buffett bank; warns nothing really new on Netflix
▼ + stars: | 2024-07-09 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +1 min

Bank of America : Piper Sandler upgraded the stock to neutral from underweight (hold from sell) and raised its price target to $42 per share from $37. "It's becoming the Buffett bank," Jim Cramer said Tuesday ahead of next week's earnings. RH : Stifel started coverage of the company formerly named Restoration Hardware with a buy and a $315-per-share price target. Netflix : Cowen increased its price target on the stock ahead of earnings next week. Smurfit Westrock : Stifel started coverage of the paper-based packaging company with a buy rating and a $65.70-per-share price target.

Persons: Jim Cramer's, Piper Sandler, It's, Jim Cramer, Warren, Berkshire Hathaway, BofA ., Stifel, Gary Friedman, Gary, Cramer, He's, chipmaker, he's, Cowen, There's, it's Organizations: CNBC, Club, Bank of America, Buffett, Berkshire, Intel, Netflix Locations: BofA

☆ I quit Merrill Lynch to start my own business. Leaving a 7-figure income and cushy corporate perks was hard, but I don't regret it.
▼ + stars: | 2024-07-09 | by ( Perri Ormont Blumberg | ) www.businessinsider.com time to read: +7 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. It was not easy to leave the comfort of my corner office, corporate perks, and awards and recognition at a big Wall Street bank. I felt like I needed to take a bigger leap and start my own thing, but I had no idea how to start a business. I don't go to the office much anymore, though most of my team chooses to go into the office. Had I stayed at a big Wall Street bank, I never would've been able to start my other businesses.

Persons: —, Chad Willardson, Merrill Lynch, Morgan Stanley, Goldman Sachs, I've, it's, Warren Buffett Organizations: Service, Pacific, Business, UBS, LinkedIn, Entrepreneurship Locations: Orange County , California, Southern California

☆ Sun Valley: Welcome to the secret summer camp for billionaires
▼ + stars: | 2024-07-09 | by ( Allison Morrow | ) edition.cnn.com time to read: +4 min

The vibe is trail-dad chic — think puffy Patagonia vests and Apple watches and stealth-wealth cashmere pullovers. Sun Valley is also widely believed to be the place where Jeff Bezos decided to buy The Washington Post, and the site of the meet-cute between Comcast and NBC Universal. There are also some notably absent names from the guest list this year. Bob Iger, CEO of Disney and one of the most recognizable business leaders on the planet, wore a name tag and aviators at last year's Sun Valley summit. Questions about President Joe Biden’s ability to campaign have wealthy donors and Democratic officials in a tizzy.

Persons: ”, Jeff Bezos, Warren Buffett, Sam Altman, Bob Iger, Tim Cook, Meta’s Mark Zuckerberg, Google’s Sundar Pichai, Rupert Murdoch, Oprah Winfrey, David Zaslav, Zaslav, Kevin Dietsch, There’s Buffett, Greg Abel, Buffett, Astrid, Elon Musk, Joe Biden’s, Gretchen Whitmer, Josh Shapiro, Wes Moore, Biden, it’s, Hamilton Nolan Organizations: New, New York CNN, Friedman, Allen & Company, Washington Post, Comcast, NBC Universal, Idaho Mountain Express, Disney, Warner Bros, Bloomberg, Variety, Discovery, Paramount, Democratic Locations: New York, Hailey , Idaho, Sun Valley , Idaho, Idaho, America, Sun

☆ CNBC Daily Open: French left-wing shock victory, Boeing guilty plea
▼ + stars: | 2024-07-08 | by ( Abid Ali | ) www.cnbc.com time to read: +4 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. However, recent profit-taking and valuation concerns led to a pullback and a rare downgrade from a Wall Street analyst. Get the CNBC Daily Open report in your inbox every morning and keep up to date with the markets wherever you are. Kolanovic wasn't the only Wall Street strategist to be caught out by the bull run — but rival banks have incrementally increased their calls.

Persons: Skydance, David Ellison, Marko Kolanovic, Kolanovic, Lori Calvasina, Calvasina, Tesla, Tom Narayan, Squawk, Narayan, Tom Sosnoff, Bill Ackman, Warren Buffett, Sosnoff, — CNBC's Pia Singh, Alex Harring, Holly Ellyatt, Ruxandra Iordache, Ryan Browne, Samantha Subin, Lim Hui Jie, Leslie Josephs Organizations: New York Stock Exchange, CNBC, Nvidia Nvidia, Wall, Paramount, Skydance Media, Paramount Global, Hollywood, Boeing, Justice Department, JPMorgan, RBC Capital Markets, RBC Locations: Hollywood

☆ Warren Buffett on his unwavering faith in the country — 'Never bet against America.'
▼ + stars: | 2024-07-07 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

For Warren Buffett, his being born in America is the biggest contributing factor to his unmatched success. He believes the same promise that the nation has brought in the past also rings true today and will benefit generations of investors to come. The reverse is not true," Buffett said in his 2022 annual letter. Buffett has said that's a fact that should scream to ordinary investors: "Never bet against America." "There has been no incubator for unleashing human potential like America," Buffett said.

Persons: Warren Buffett, Buffett, shirtmaker Berkshire Hathaway, LBJ, Benjamin Graham Organizations: United, Berkshire, Dow, America, Cuban Missile, shirtmaker Berkshire, BNSF Railway, Burlington Northern, Columbia University Locations: America, United States, Omaha, shirtmaker, Burlington Northern Santa Fe, Apple . Berkshire, Berkshire

☆ Warren Buffett paid just $31,500 for his home of nearly 70 years. Read his 8 best quotes about buying a house.
▼ + stars: | 2024-07-06 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

Warren Buffett has lived in the same family home in Omaha for almost 70 years. The billionaire paid just $31,500 for the house, which is now worth about $1.4 million. Here are Buffett's best quotes about buying a home, which he says can be both a great and terrible idea. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementWarren Buffett, one of the world's wealthiest people worth almost $130 billion, has lived in the same unassuming house in Omaha for nearly 70 years.

Persons: Warren Buffett, —, Buffett Organizations: Service, Business Locations: Omaha

☆ The U.S. needs more of this critical metal — and China owns 80% of its supply chain
▼ + stars: | 2024-07-03 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Picture Alliance | Picture Alliance | Getty ImagesBEIJING — China dominates the supply chain for many of the world's critical minerals, but so far it's held off on sweeping restrictions on at least one: tungsten. Almonty claims the forthcoming mine in South Korea has the potential to produce 50% of the world's ex-China tungsten supply. "We see in the U.S., in Europe, they ask their suppliers for a China-free supply chain," said Michael Dornhofer, founder of metals consulting firm Independent Supply Business Partner. watch nowBack in January, U.S.-based research firm Macro Ops said: "We're approaching an inflection point in tungsten supply. Other non-Chinese companies in the tungsten supply chain are going to South Korea.

Persons: Lewis Black, Biden, Black, Yadong, Almonty, Michael Dornhofer, Dornhofer, Brandon Beylo, he's, Mark Seddon, Warren Buffett Organizations: Saxony Minerals, ., Getty, Taiwan Semiconductor Manufacturing Company, Nvidia, Almonty Industries, China's Ministry of Commerce, Independent Supply, Energy, Security Holdings, European, Chinese Communist Party, U.S . Bureau of Industry, Security, Department of Commerce, CNBC, Argus, IMC, IMC Group Locations: Germany, BEIJING, China, Canada, South Korea, U.S, Europe, United States, South Korea China, North Korea, Africa, Myanmar, Daegu

☆ Stocks surged during the first half of 2024. What’s next?
▼ + stars: | 2024-07-01 | by ( Krystal Hur | ) edition.cnn.com time to read: +8 min

Much of the S&P 500’s gains were concentrated in the Magnificent Seven big tech names, while other stocks lagged behind. Coming into this year, Wall Street projected that the Fed would ease rates as many as six times in 2024. What could be in store for the stock market during the second half of 2024? “I feel very, very good about the values of my three children, and I have 100% trust in how they will carry things out,” Buffett told the Journal. Previously, Buffett had said his will stated that more than 99% of his estate was earmarked for philanthropic usage to the Bill & Melinda Gates Foundation and the four charities connected to his family: the Susan Thompson Buffett Foundation, Sherwood Foundation, Howard G. Buffett Foundation and NoVo Foundation.

Persons: there’s, Bell, Kevin Gordon, Charles Schwab, you’ve, It’s, we’re, it’s, I’d, That’s, Warren Buffett, Buffett, Berkshire Hathaway, Melinda Gates, ” Buffett, Susan Thompson Buffett, Howard G, Read, Matt Egan, unstuck, —, Michael Gapen Organizations: CNN Business, Bell, New York CNN, Dow Jones, Nasdaq, Nvidia, Federal Reserve, Wall, Fed, Berkshire, Wall Street, Melinda Gates Foundation, Gates, Susan Thompson Buffett Foundation, Sherwood Foundation, Buffett Foundation, NoVo Foundation, Gates Foundation, Bank of America, CNN Locations: New York, America

☆ Melinda French Gates shares the best lesson she got from Charlie Munger: ‘What a thing to aspire to’
▼ + stars: | 2024-06-30 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

Charlie Munger wasn't just an acclaimed investor, one of the masterminds behind Berkshire Hathaway's decades of financial success. He also gave great life advice, according to billionaire philanthropist Melinda French Gates. French Gates, 59, shared her favorite lesson of Munger's during a recent commencement speech at Stanford University. "As a society, we aren't always set up to feel responsibility for the person who's next to us or the person who's on the other side of a divide or a debate," French Gates added. Similarly, French Gates urged her audience to make "strong, reciprocal bonds with other people, even if they disagree on issues big or small."

Persons: Charlie Munger wasn't, Melinda French Gates, French Gates, Charlie, Gates, Munger, Berkshire Hathaway — Warren Buffett's, Lisa Skeete Tatum, Landit, Skeete Tatum Organizations: Stanford University, Berkshire, CNBC Locations: Berkshire, French

☆ Warren Buffett's Berkshire Hathaway raked in billions from BYD, the China EV maker Munger called a 'damn miracle'
▼ + stars: | 2024-06-30 | by ( Yun Li | ) www.cnbc.com time to read: +3 min

Sixteen years ago, Warren Buffett's Berkshire Hathaway unveiled a $230 million investment in Chinese electric vehicle startup BYD , sparking questions about the conglomerate's unusual foray into early-stage technology. Lately, Berkshire has been selling down the position, ringing the register after earning billions of dollars during its hyper-growth phase. Berkshire trimmed its BYD stake to 5.99% as of June 19 from 7% just a few days earlier , according to a Hong Kong Stock Exchange filing . It has since become the top car brand in China, as well as a major producer of EV batteries. "From a standing start at zero and with very little capital, he rapidly was able to create the best-selling single model in China," Munger said.

Persons: Warren Buffett's Berkshire Hathaway, Charlie Munger, —, Munger, Wang Chuanfu, he's, Buffett, Thomas Edison, Bill Gates, BYD, Tesla, Li Lu Organizations: Hong Kong Stock Exchange, Oracle, EV, Elon, Seattle, Capital, Berkshire Locations: China, Berkshire, Munger, Omaha, Shenzhen, Hong Kong

☆ Warren Buffett once went to China with Bill Gates — and lived on burgers, fries, and Cherry Coke
▼ + stars: | 2024-06-30 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

Luckily his close friends, Microsoft cofounder Bill Gates and his then-wife Melinda, went to great lengths to ensure he wouldn't starve. "To his delight he was served course after course of his french fries —even for dessert," Schroeder reported. When they stopped at restaurants for lunch and dinner, Buffett was again served burgers and fries while the others chowed down on Chinese food. During a scenic private cruise, Buffett, Gates, and Gates' dad played bridge. "Buffett towed the Gateses straight to McDonald's to buy hamburgers in the middle of the night," Schroeder wrote.

Persons: —, Warren Buffett, Bill Gates, Melinda, Alice Schroeder, Buffett, Schroeder, Cherry Coke, Rick Wilking, Gates Organizations: Service, Business, Berkshire Hathaway, Reuters Locations: China, Sichuan, Champagne, gulps, Berkshire, Hong Kong

☆ Warren Buffett gives away another $5.3 billion, says his children will manage his estate
▼ + stars: | 2024-06-28 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Warren Buffett speaks during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 4, 2024. Warren Buffett on Friday made his biggest annual donation to date, giving $5.3 billion worth of Berkshire Hathaway shares to five charities. After Friday's donations, Buffett owns 207,963 Berkshire A shares and 2,586 B shares, worth about $130 billion. He told the Journal that the Bill & Melinda Gates Foundation will no longer receive donations after his death. Buffett resigned as a trustee at the Gates Foundation in June 2021 in the midst of Bill and Melinda Gates' divorce.

Persons: Warren Buffett, Berkshire Hathaway, Melinda Gates, Susan Thompson Buffett, Howard, Susan, Peter Buffett, Buffett, haven't, we've, Charlie Munger, Greg Abel Organizations: Berkshire, Berkshire Class, Melinda Gates Foundation, Susan Thompson Buffett Foundation, Oracle, Wall Street Journal, Gates Foundation Locations: Omaha , Nebraska, Omaha, Berkshire, Douglas

☆ Warren Buffett has finally revealed what will happen to his money after he dies
▼ + stars: | 2024-06-28 | by ( Krystal Hur | ) edition.cnn.com time to read: +2 min

“The Gates Foundation has no money coming after my death,” Buffett told the Journal. Previously, Buffett had said his will stated that more than 99% of his estate was earmarked for philanthropic usage to the Bill & Melinda Gates Foundation and the four charities connected to his family: the Susan Thompson Buffett Foundation, Sherwood Foundation, Howard G. Buffett Foundation and NoVo Foundation. Berkshire Hathaway on Friday said that Buffett is converting roughly 9,000 Class A shares into more than 13 million Class B shares. About 9.3 million shares will go to the Bill & Melinda Gates Foundation Trust, with the rest split among the four Buffett family charities. Following the newly announced donations, Buffett owns 207,963 Berkshire Hathaway Class A shares and 2,586 Class B shares, the company said.

Persons: New York CNN — Warren Buffett, Buffett, Berkshire Hathaway, Melinda Gates, ” Buffett, Susan Thompson Buffett, Howard G, “ Warren Buffett, ” Mark Suzman, “, ”, Melinda Organizations: New, New York CNN, Berkshire, Wall Street, Melinda Gates Foundation, Gates, Susan Thompson Buffett Foundation, Sherwood Foundation, Buffett Foundation, NoVo Foundation, Gates Foundation, Melinda Gates Foundation Trust, CNN, Berkshire Hathaway Locations: New York

☆ Warren Buffett reveals about $600 million of his wealth isn't in Berkshire Hathaway stock
▼ + stars: | 2024-06-28 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

Warren Buffett revealed he owns about $600 million of assets apart from Berkshire Hathaway stock. The investor said his Berkshire A shares, worth $127 billion, represent 99.5% of his net worth. He likely keeps most of his remaining wealth in his private portfolio of stocks and bonds. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementWarren Buffett just revealed he has about $600 million of personal wealth outside of his Berkshire Hathaway stock.

Persons: Warren Buffett, —, he's, Melinda Gates Organizations: Berkshire Hathaway, Berkshire, Service, Melinda Gates Foundation, Business Locations: Berkshire

☆ Warren Buffett says he'll put his $130 billion fortune into a charitable trust run by his children after he dies
▼ + stars: | 2024-06-28 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Warren Buffett's vast fortune will go into a charitable trust when he dies, the billionaire told The Wall Street Journal. Susie Buffett chairs the education and social justice-oriented Sherwood Foundation, and the Susan Thompson Buffett Foundation, focused on reproductive rights. Howie Buffett heads the Howard G. Buffett Foundation, which is involved in food security and the mitigation of conflict and human trafficking. Since 2006, the 93-year-old billionaire has already been contributing to the four foundations run by his children, as well as to the Bill & Melinda Gates Foundation Trust. Until 2021, he served as a trustee of the Gates Foundation.

Persons: Warren, —, Warren Buffett, Berkshire Hathaway, Susie, Howie, Peter Buffett, Susie Buffett, Susan Thompson Buffett, Howie Buffett, Howard G, I'm, Buffett, Melinda Gates Organizations: Wall Street, Gates, Service, Sherwood Foundation, Susan Thompson Buffett Foundation, Buffett Foundation, NoVo Foundation, Melinda Gates Foundation Trust, Gates Foundation, Berkshire Locations: Berkshire

☆ LVMH boss Bernard Arnault raised his job's retirement age to 80. Warren Buffett told him that age limit was too low.
▼ + stars: | 2024-06-27 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

Warren Buffett wrote to Bernard Arnault after the LVMH CEO raised his job's retirement age to 80. The investor told the luxury tycoon suggested he should have lifted it higher, Bloomberg reported. Berkshire Hathaway's 93-year-old CEO has argued that great bosses only get better with age. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAfter Bernard Arnault raised the retirement age for his job from 75 to 80 in 2022, Warren Buffett wrote to the luxury tycoon suggesting he should have hiked it higher.

Persons: Warren Buffett, Bernard Arnault, —, Berkshire Hathaway, Buffett Organizations: Bloomberg, Berkshire Hathaway's, Service, Berkshire, Business Locations: Berkshire

☆ Testing brands, counting railcars, and watching 'Mary Poppins': how a young Warren Buffett found winning stocks
▼ + stars: | 2024-06-27 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +1 min

Warren Buffett didn't just rely on financials and listings to pick winning stocks in the early days. He spent weeks counting railcars, went to see "Mary Poppins," and tested the American Express brand. "Buffett's Early Investments" outlines how the investor vetted bosses and hunted down shares to buy. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThere's a common perception that Warren Buffett struck gold as a young investor by poring over long lists of stocks and scooping up the cheapest ones.

Persons: Warren Buffett, Mary Poppins, —, Brett Gardner Organizations: American Express, Service, Oracle, Business

☆ Meet Bill and Melinda Gates' Gen Z daughter Phoebe, a Stanford graduate and activist who's dating Paul McCartney's grandson
▼ + stars: | 2024-06-27 | by ( Charissa Cheong | ) www.businessinsider.com time to read: +1 min

Phoebe Gates is the youngest daughter of Bill and Melinda Gates. Bill and Melinda Gates. Getty/Scott OlsonBill Gates and Melinda French Gates, who married in 1994 and divorced in 2021, have three children: Jennifer, 28, Rory, 25, and Phoebe, 21. The three Gates children will inherit at least some of their parents' wealth: Bill Gates has said he plans to leave them "only" $10 million each. Today, nearly five decades after cofounding Microsoft, Bill Gates has a fortune of about $134 billion, according to Forbes.

Persons: Phoebe Gates, Bill, Melinda Gates, Getty, Scott Olson Bill Gates, Melinda French Gates, Jennifer, Rory, Phoebe, Puck, Bill Gates, Gates, Warren Buffett, Fortune Organizations: Lakeside School, Microsoft, Forbes, Gates Foundation

☆ The Nvidia spell has been broken. Here’s what could come next
▼ + stars: | 2024-06-26 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

London CNN —Nvidia, Nvidia, Nvidia. Nvidia’s stock bounced back Tuesday, yet investors have been reminded of a potentially bubble-bursting truth: You can fly too close to the sun. For context, it took Warren Buffett about 60 years to build Berkshire Hathaway into a nearly trillion dollar company. But typical volatility can have seismic repercussions when it comes to a stock as all-consuming as Nvidia. Analysts at The Carlyle Group say that while artificial intelligence is revolutionizing the world around us, the Nvidia stock bubble will eventually burst.

Persons: Warren Buffett, Berkshire Hathaway, Microsoft’s, ”, Jim Smigiel, Louis Navellier, Nvidia’s, ” Jochen Stanzl, Emily Bowersock Hill, Jason Thomas, Carlyle’s, ” Neil Roarty, Stocklytics, —, Levi’s, “, LEVI, ” Read, Ryan Callahan, ” Callahan, CDK, Tom McParland Organizations: CNN Business, Bell, London CNN, Nvidia, Berkshire, Deutsche Bank, SEI, Navellier, Associates, CMC, CNN, Bowersock Capital Partners, The Carlyle Group, ’ Association, Mazda, North America, Automatic Consulting Locations: London, Turkey, Istanbul, Seekonk , Massachusetts

☆ The S&P 500 could crater 48% when the stock-market bubble pops and recession finally hits, elite strategist says
▼ + stars: | 2024-06-26 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +3 min

The S&P 500 could crash 48% when the bubble in stocks pops and a recession hits, Paul Dietrich said. The elite strategist pointed to a massively overvalued market and cracks in the economy. AdvertisementThe S&P 500 could be cut in half when the stock-market bubble pops and the US economy sinks into recession, Paul Dietrich says. He attributed that to institutional investors buying the haven asset as they expect a "major correction or stock market crash due to our wildly overvalued stock market and a slowing underling economy." The Wall Street veteran is one of several top forecasters predicting pain for stocks and a recession ahead.

Persons: Paul Dietrich, Dietrich, —, Riley Wealth, Warren Organizations: Service, Microsoft, Nvidia, Federal Reserve, Wall

☆ Companies are repurchasing stock at record levels. Here are the buyback kings
▼ + stars: | 2024-06-25 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Tech and communication services companies have been dominating share buyback activity within the S & P 500 this year, according to Jill Carey Hall, Bank of America's equity and quantitative strategist. Earlier this year, Apple announced a massive $110 billion share buyback program, while Alphabet authorized a $70 billion repurchase . Buyback fans include legendary investor Warren Buffett, as Berkshire Hathaway spent $2.6 billion in the first quarter of 2024 to repurchase shares. And the company has a strong track record of stock buybacks. GM's board authorized a new $6 billion buyback program earlier this month, which follows an accelerated $10 billion plan from November 2023.

Persons: Jill Carey, Hall, Warren Buffett, Berkshire Hathaway, Motors, Morgan Stanley, Joe Laetsch, Laetsch, Johnson Organizations: Tech, Jill Carey Hall , Bank, Apple, Berkshire, CNBC, GM, General Motors, Marathon Petroleum, MPC, DuPont, Synchrony, Comcast Locations: Detroit, NBCUniversal

☆ How Chinese EV makers are slowly taking over the world
▼ + stars: | 2024-06-22 | by ( Tom Carter | ) www.businessinsider.com time to read: +14 min

Chinese carmakers accounted for 88% of the EV market in Brazil and 70% in Thailand in Q1, according to ABI Research figures. The EV markets in many of these countries are small now, but they're growing rapidly. This is because Chinese automakers are known for their ability to build electric cars for less than their foreign competitors. Australian Senator and shadow cyber-security minister James Paterson said earlier this year that Chinese EVs pose a growing cybersecurity risk. "India is still a little wary of the Chinese market," said Dylan Khoo, an analyst at ABI Research.

Persons: —, BYD, Joe Biden, Bill Russo, Susan Walsh Sam Fiorani, Luiz Inácio Lula da Silva, São Paulo, Luiz Inacio Lula da Silva, Marcel Martin, Katherine Tai, Elon Musk, SONNY TUMBELAKA, They're, Automobility, Tesla, John Keeble, James Paterson, Fiorani, Indranil Aditya, Dylan Khoo, Warren Buffett, Xpeng, William Li, HECTOR RETAMAL, America's, Russo, WuYuan Organizations: Service, Detroit, EV, Business, Research, Ford, Toyota, Volkswagen, EU, AP, AutoForecast Solutions, Brazilian Electric Vehicle Association, Great Wall Motors, Anadolu Agency, Getty, International Council, Clean Transportation, Chery, Total, China Passenger Car Association, Reuters, Honda, Mitsubishi, International Energy Agency, Federal, of Automotive Industries, SAIC, AutoForecast, BYD, SAIC Motors, India's, ABI Research, Union Locations: Camaçari, Brazilian, Bahia, Brazil, Mexico, Southeast Asia, Europe, Thailand, China, Shanghai, EU, São, Johannesburg, South Africa, Southeast Asia Southeast Asia, Malaysia, Vietnam, Indonesia, Indonesia's West Java, Philippines, Australia, Hangzhou, Queensland, India India, India, Europe Europe, Hungary, France, Spain, Portugal, South Korea

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