Markets

On Sunday, the European Union imposes an import ban and price cap mechanism on Russian fuel products, such as diesel. Kpler lead oil analyst Matt Smith said the sanctions likely won’t change Russia’s overall production volume, but could hit export revenues.   He noted that Africa has seen a recent uptick in imports of Russian oil… Continue reading Here’s why Europe’s new Russian fuel sanctions won’t cripple Moscow

Insider’s Zahra Tayeb asked ChatGPT what traits make for a good stock investor.  The buzzy AI bot chucked out 6 virtues that lead to investor success, including patience and discipline.  Its advice mirrored that of top investors like Warren Buffett, but failed to identify other key traits vital to investor success.  Loading Something is loading.… Continue reading ChatGPT seconds Warren Buffett’s and Michael Burry’s tips on what it takes to be a good investor – the bot lists patience and discipline among 6 must-have traits

The Adani Group has lost more than $100 billion in market value as its stocks took a beating from the Hindenburg report.   Shares in its flagship business, Adani Enterprises, shed more than 25% on Thursday.  The volatility in Adani stocks forced founder Gautam Adani to pull a $2.5 billion share sale for Adani Enterprises on… Continue reading Adani stocks have now wiped out over $100 billion in market value as botched share sale piles on trouble

Charlie Munger slammed the rampant hype, lack of regulation, and unfairness of cryptocurrencies. Warren Buffett’s right-hand man urged the US government to ban the fledgling industry entirely. Munger has blasted crypto as “rat poison,” a “venereal disease,” and an “open sewer” in the past. Loading Something is loading. Thanks for signing up! Access your favorite… Continue reading Legendary investor Charlie Munger says crypto is a terrible bet, and the US should ban it entirely

China’s stock market appears to be buying into the ChatGPT hype, with local AI stocks flourishing.NurPhoto/Contributor/Getty Images Chinese AI stocks have been rallying as the market appears to join ChatGPT-driven hype. Computer vision tech group Beijing Deep Glint Technology Co. rose more than 15% Wednesday. The stocks initially disappointed after China’s economy reopened due to… Continue reading The massive ChatGPT craze has reached Asia, lifting some Chinese AI stocks up to 60% in just a few weeks

Michael Burry issued a grim warning to investors by simply tweeting: “Sell.” The “Big Short” legend was likely responding to the stock market’s astounding comeback in January. Burry recently compared the S&P 500’s rebound to its short-lived rally during the dot-com crash. Loading Something is loading. Thanks for signing up! Access your favorite topics in… Continue reading ‘Big Short’ legend Michael Burry issues a grave warning to investors with a one-word tweet: ‘Sell.’

Bankrupt crypto lender Celsius used QuickBooks to log its finances just like FTX.  The company went bust last July as the cryptocurrency market underwent a huge sell-off.  According to an examiner’s report, Celsius’ tracked its finances in 15 QuickBooks files and failed to produce consolidated statements.  Loading Something is loading. Thanks for signing up! Access… Continue reading Bankrupt crypto lender Celsius used Quickbooks for its accounting just like FTX, report says

The Federal Reserve’s not going to start cutting interest rates soon, Morgan Stanley’s top strategist said. When investors realize that, the focus will shift to the weakness in earnings, Mike Wilson told CNBC. “There’s no ‘heroin’, so to speak – we’re going to price to fundamentals, which are clearly deteriorating in our view,” he said.… Continue reading Investors are hooked on the ‘heroin’ of Fed rate cuts but the focus will turn to earnings gloom, Morgan Stanley’s top strategist says