Good morning. Every year, millionaires bid to have a charity lunch with Warren Buffett. This year, a crypto entrepreneur will pay $4.57 million for the privilege.
 | | Good morning. Every year, millionaires bid to have a charity lunch with Warren Buffett. This year, a crypto entrepreneur will pay $4.57 million for the privilege.
It should be an interesting conversation to sit in on, to say the least. Buffett has been infamously shy on new technologies, and he has also been a critic of cryptocurrency.
Without cash flows behind the asset, it is certainly a challenge to analyze by any traditional metric. That also explains why Buffett has been critical of gold, although in the 1990s he stored a massive amount of wealth in silver bullion. Will Buffett be changing his mind soon and buy Bitcoin? Probably not, but you never know… | | |
Was this email forwarded to you? Get your own! Sign up here. | | | |
| | |  | DOW 30, 25,322.18 | +2.06% | | | | S&P 2,803.27 | +2.14% | | | | NASDAQ 7,527.12 | +2.65% | | | | | *As of market close | | | • | Stocks surged higher following favorable comments from China on trade, as well as comments by Fed officials that are increasing the odds of rate cuts this year. | | | | • | Oil and gold traded flat as elevated fear—and oil supplies—still remain in the markets… as well as the expectation that no resolution remains on major issues such as tariffs. | | | |
| | | Fed Chief Calms Markets | |  | | Federal Reserve officials gave markets a huge boost Tuesday with bullish comments. | | Tech stocks traded weakly on Monday, weighing markets down.
Markets surged higher over 2 percent on Tuesday, fueled by comments by Federal Reserve Chairman Jerome Powell.
Speaking at a conference at the Federal Reserve Bank of Chicago, he stated that the Fed is prepared to "act as appropriate to sustain the expansion."
The comments also revolved around trade war fears that could put a lid on trade and economic growth, using the old standby phrase "We are closely monitoring the implications of these developments for the U.S. economic outlook."
» FULL STORY | | | | |
| | Uber Gets 13 Bullish Ratings as Analysts Come Out Swinging | |  | | Ride-share giant Uber gets more than a dozen "BUY" ratings from analysts. | | 25 days after its tumultuous IPO, ride-sharing company Uber (UBER) got its first thirteen analyst ratings. All were bullish.
Despite a strong day in the markets and these bullish ratings, shares of the company lagged the markets, but did rise higher on the day.
Shares have been struggling since the company went public, suggesting that the IPO was overpriced… a factor that may be keeping investors away even now.
» FULL STORY | | | | |
| | | | Insider Activity: Capri Holdings (CPRI) |  | | Apparel brand company CEO makes a $20 million buy into shares. | | Chairman and CEO of Capri Holdings (CPRI) John Idol just spent over $20 million on shares. He picked up over 615,000 shares of the company, increasing his stake by 30 percent.
The United Kingdom-based company manufactures apparel and accessories for men and women around the world, including such well-known brands as Versace, Jimmy Choo, and Michael Kors.
Shares have been weak year-to-date, and the $20 million buy-in is a major vote of confidence that shares can start turning around from here.
» FULL STORY | | | | |
| | Unusual Options Activity: Las Vegas Sands (LVS) | |  | | A big, bearish trade implies more downside for the casino from here. | | At least one trader is betting on a big decline in casino firm Las Vegas Sands (LVS).
On Tuesday, a large number of contracts traded on a December $40 put option. With shares currently trading around $55, which implies a 25 percent decline in shares between now and the end of the year for the put option to pay off like a winning slot machine.
The contract had over 1,360 trades, against an existing volume of just over 200 contracts.
» FULL STORY | | | | |
| | | | TOP | | | CTVA | 11.85% |  | | | | MAT | 11.71% | | | | | WYNN | 8.979% | | | | | XRX | 7.489% | | | | | MGM | 7.415% | | | | | BOTTOM | | | NKTR | 3.347% |  | | | | VTR | 3.04% | | | | | HCP | 2.641% | | | | | DD | 2.615% | | | | | MKC | 2.533% | | | | | |
| | |  | | Perhaps it is time to retire the term 'unconventional' when referring to tools that were used in the crisis. We know that tools like these are likely to be needed in some form in future ELB spells, which we hope will be rare. | - Federal Reserve Chairman Jerome Powell, on using other monetary tools besides interest rates in a crisis  | |
|
No comments:
Post a Comment