In a recent regulatory filing, Warren Buffett unveiled his latest stock pick – Chubb Insurance. Berkshire Hathaway, the conglomerate led by Buffett, acquired approximately 26 million shares of Chubb, totaling a stake worth $6.7 billion. This move has positioned Chubb as Berkshire’s ninth largest holding as of the end of March. Market Response Following the
Investment
The recent surge in the shares of AMC Entertainment and GameStop has once again captured the attention of investors and the general public alike. This new rally, fueled by social media, has reignited the phenomenon of “meme stocks.” The resurgence of these stocks can be attributed to a social media account known as “Roaring Kitty,”
Alibaba, the Chinese e-commerce giant, faced a significant drop in its net profit in the fiscal fourth quarter, causing its shares to plummet. The company reported revenue of 221.9 billion yuan ($30.7 billion), slightly surpassing LSEG consensus estimates. However, its net income attributable to ordinary shareholders declined by 86% year on year, coming in at
Klarna, a Swedish financial technology company, has recently revealed that an overwhelming majority of its workforce is utilizing generative artificial intelligence tools in their daily work routines. This adoption of AI technology has significantly impacted various departments within the company, leading to increased efficiency and streamlined operations. With over 87% of Klarna’s employees now incorporating
Contrary to popular belief, being extremely wealthy does not shield individuals from emotional struggles. Therapists who work with the super-rich have noted that one of the main issues their clients face is chronic isolation. Living in the top 1% creates a bubble where very few people can relate to their experiences. The fear of not
In recent years, as home values continue to climb, more Americans are finding themselves in a position where they owe capital gains taxes when selling their property. According to a report from real estate data firm CoreLogic, nearly 8% of home sales in 2023 exceeded the $500,000 limit for tax-free profits, up from roughly 3%
GameStop shares experienced an unprecedented rally, surging more than 80% in a single day, after Keith Gill, also known as “Roaring Kitty,” made his first online appearance in three years. Gill, a former marketer for Massachusetts Mutual Life Insurance, captured the attention of a legion of day traders on Reddit by advocating for investments in
SoftBank recently reported a 724.3 billion Japanese yen ($4.6 billion) gain on its Vision Fund in the fiscal year that ended in March. This marks a significant milestone as it is the first time since 2021 that the flagship tech investment arm has been in the black. The Vision Fund segment posted a profit of
Recent reports have indicated a decline in the number of homeowners undertaking remodeling projects. The Leading Indicator of Remodeling Activity (LIRA), a key metric for measuring home improvement and repair spending, peaked at 17.3% in the third quarter of 2022, but has been steadily decreasing since then. Similarly, the NAHB/Westlake Royal Remodeling Market Index, which
In a world where inflation is expected to range between three to five percent, investors are constantly seeking ways to adjust their portfolios to thrive in this environment. With the Federal Reserve prioritizing the economy and employment over containing inflation, traditional investment strategies may no longer be effective. Horizon Kinetics’ James Davolos believes that the