Bill Ackman’s first stock was Wells Fargo, and Warren Buffett was a key factor in his choice. The billionaire invested in the bank as a business-school student with only $40,000 to his name. Ackman determined Wells Fargo, which counted Buffett as a big shareholder, was oversold at the time. Loading Something is loading. Thanks for… Continue reading Bill Ackman’s first stock was Wells Fargo – and Warren Buffett was a big reason why he bet on the bank
‘Blame the Boomers’: A paradox in the housing market is what’s really behind rising demand and home prices
High mortgage rates and short supply of housing are just part of the pricing story, according to Barclays. Strong demand among older Americans is keeping prices high, with analysts saying “Blame the Boomers.” That’s as older age groups tend to spur more household formation, adding pressure on the market. Loading Something is loading. Thanks for… Continue reading ‘Blame the Boomers’: A paradox in the housing market is what’s really behind rising demand and home prices
Kroger’s Q2 Sales Slide Amid Challenging Environment
Kroger (KR) fell short of Wall Street’s second-quarter revenue expectations, citing a challenging environment for consumers as they face reduced federal benefits, inflation and higher interest rates. “The strength and diversity of Kroger’s business model is delivering consistent results in what remains a challenged environment,” Kroger CEO Rodney McMullen said in a statement. “By investing… Continue reading Kroger’s Q2 Sales Slide Amid Challenging Environment
Stock Market Today: Stocks Rise With Inflation Data on Deck
It was a choppy end to a down week for stocks as investors looked ahead to next week’s critical inflation update. Amid relatively bare economic and earnings calendars, today’s price action was driven by single-stock moves, with notable upside in a few mega-cap names helping the Nasdaq Composite avoid a fifth straight loss. At… Continue reading Stock Market Today: Stocks Rise With Inflation Data on Deck
HHS Calls For Cannabis Reclassification: This Week in Cannabis Investing
The end of August and transition into fall may not only signal a change in seasons, but it can also mark the beginning of change in the nation’s capital. Most people were probably at the beach soaking up the final days of summer sun when the Department of Health and Human Services (HHS) sent a… Continue reading HHS Calls For Cannabis Reclassification: This Week in Cannabis Investing
Warren Buffett wrote to Leon Cooperman about stock buybacks, taxing the rich, and the presidency. Here are the 3 messages, from Cooperman’s new memoir
Warren Buffett wrote to Leon Cooperman about stock buybacks, taxing the rich, and Henry Singleton. When Cooperman was mulling a presidential run, Buffett joked he could “deliver Nebraska” for him. Cooperman shared a trio of messages he received from Buffett in his newly published memoir. Loading Something is loading. Thanks for signing up! Access your… Continue reading Warren Buffett wrote to Leon Cooperman about stock buybacks, taxing the rich, and the presidency. Here are the 3 messages, from Cooperman’s new memoir
Country Garden just dodged a default but China’s property-debt distress continues
Leading Chinese developer Country Garden avoided a debt-default last week with an 11th-hour coupon payment. But this may have provided only a temporary relief for the Asian nation’s ailing property sector. The embattled industry faces a cocktail of headwinds that may continue to drag on China’s economy. Loading Something is loading. Thanks for signing up!… Continue reading Country Garden just dodged a default but China’s property-debt distress continues
The dollar wiped out this year’s losses over the past 2 months following a barrage of strong economic data
The dollar has surged over the past two months thanks to strong economic data. One gauge of the greenback’s strength has rallied 5% since July 13. The buck recently hit a six-month high, with inflation cooling and the jobs market staying strong. Loading Something is loading. Thanks for signing up! Access your favorite topics in… Continue reading The dollar wiped out this year’s losses over the past 2 months following a barrage of strong economic data
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