Warren Buffett, the chairman and CEO of Berkshire Hathaway, has shown his philanthropic spirit once again by donating more than $870 million in Berkshire Hathaway stock to four family foundations before Thanksgiving. This act of generosity reassured investors in a letter that the conglomerate is “built to last.” The 93-year-old investor donated 1.5 million Class…
U.S. Stocks Set to Open Steady as Third Consecutive Winning Performance Ends U.S. equity futures are preparing to open steady on Sunday evening, with all major averages coming off of their third consecutive winning performance. Futures tied to the Dow Jones Industrial Average fell slightly, along with S&P 500 futures and Nasdaq 100 futures. The…
Legendary value investor Jeremy Grantham has launched his firm’s first active ETF called the GMO U.S. Quality ETF. He has put GMO partner Tom Hancock in charge of it. According to Hancock, interest in active ETFs has increased in recent years, especially among institutional clients, due to tax advantages and ease of trading. The new…
Berkshire Hathaway’s Vice Chairman Charlie Munger defended Warren Buffett against claims that he was involved in insider trading. Munger stated that the idea that Buffett was front-running Berkshire’s trades didn’t make sense, given Buffett’s charitable giving and majority of his wealth being tied up in Berkshire stock. In response to a report by ProPublica, Munger…
Investors and financial planners are buzzing about the potential for avoiding capital gains tax in 2024, as the IRS released inflation adjustments, including increases in income tax brackets, and income thresholds for capital gains. Certified financial planner Tommy Lucas emphasized the opportunity to take gains next year and the prospect of selling long-term assets or…
“Dividend Monarchs: The Safe Play for Investors in Uncertain Times” Investors worried about market volatility may want to consider stocks that have consistently proven themselves over time – also known as dividend monarchs. This strategy is favored by Roundhill Investments, which recently launched its S&P Dividend Monarchs ETF. “It’s named that for a reason. It…
Feeling wealthy is becoming a rare luxury for most people these days. A recent Ameriprise Financial survey found that only 8% of millionaires consider themselves wealthy, while 31% identify as middle class. This feeling of financial insecurity is attributed to inflation, high interest rates, and economic uncertainty. Even highly paid professionals, termed as the “regular…
UBS Group AG began selling Additional Tier 1 (AT1) bonds, which were central to the controversy surrounding its emergency rescue of Credit Suisse, for the first time since completing the takeover. The Swiss banking giant is marketing two tranches of U.S. dollar AT1 bonds, including a non-call five-year offering around a 10% yield and a…
French prosecutors have launched a preliminary investigation into multinational pharmaceutical company Sanofi over potential market manipulation. The Parquet National Financier, the French financial prosecutor, opened the probe in March 2023, focusing on allegations of “dissemination of false or misleading information and price manipulation” related to Sanofi’s past financial communications. Sanofi has responded by stating that…
Citigroup CEO Jane Fraser is facing mounting pressure to turn around the struggling global bank. After announcing a corporate overhaul in September, Fraser warned that layoffs would be part of the restructuring. The talks of job cuts, which could amount to at least 10% of the workforce in several major businesses, have caused anxiety among…
