Markets

Markets 2023-09-04T15:46:25Z

NBA star Giannis Antetokounmpo spread his money across half a dozen bank accounts as a rookie because of the FDIC's $250,000 limit. Billionaire team owner Marc Lasry told him to invest instead.

When Giannis Antetokounmpo first arrived in the US at age 18, he opened accounts at "five, six, seven" different banks to keep his money safe.
Markets 2023-09-04T15:26:15Z

Charlie Munger pockets $70,000 a year from a $1,000 investment he made in 1962 - and has likely raked in over $1 million in total

Charlie Munger, Warren Buffett's right-hand man, spent $1,000 on oil royalties in 1962. He now receives 70 times that amount from them each year.
Markets 2023-09-04T15:19:10Z

Berkshire Hathaway stock could crash 99% and Warren Buffett would still have trounced the S&P 500

Warren Buffett oversaw a nearly 3,800,000% rise in Berkshire Hathaway stock between 1965 and 2022, crushing the S&P 500's 25,000% gain in that period.
Markets 2023-09-04T13:26:58Z

The 'Wizard of Wharton' says stocks are on solid ground - and house prices are shaking off mortgage pain

Jeremy Siegel says a brighter earnings outlook, and the prospect of no more interest-rate hikes until at least December, are good news for stocks.
Markets 2023-09-04T12:30:01Z

From Ukrainian noodles to electric cars. Here's how VinFast founder Pham Nhat Vuong built a more than $60 billion fortune

After selling his instant noodle business to Nestle for $150 million, Pham Nhat Vuong invested in Vietnam's luxury real estate market and hit it big.
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Markets 2023-09-04T12:15:01Z

Economist David Rosenberg says a recession will hit in 6 months. Here are his 7 best quotes from a new interview.

The Rosenberg Research president explained his grim economic outlook in a new interview. These are the biggest takeaways.
Markets 2023-09-04T12:11:19Z

Pot stocks just notched their biggest weekly rally since March 2020 amid hopes of a lower-risk rating from the DEA

Marijuana is currently classed as a Schedule I drug, the same category as heroin and LSD, despite widespread legalization in the US.
Markets 2023-09-04T10:36:02Z

Business guru Scott Galloway touts his Apple and Amazon bets — and trumpets the power of Warren Buffett-style investing

Scott Galloway hailed buy-and-hold investing as a fantastic way to get rich, and stressed the need to save, be frugal, and choose the right career.
Markets 2023-09-04T09:55:58Z

Russia is becoming increasingly dependent on Chinese banks as its yuan borrowings more than quadruple

The renminbi's increased role in Russia's banking sector indicates further efforts to reduce reliance on the dollar.
Markets 2023-09-04T09:03:04Z

Stocks tend to plummet in September - but expect a better month this year, Bank of America says

The S&P 500 tends to slide 0.7% on average in September but its surge year-to-date means it's well-placed to buck the trend, strategists said.
Markets 2023-09-03T10:05:01Z

SEC's Gary Gensler is waging war against crypto. Here's a look at how his views on the industry have evolved over the years

The SEC chair has waged all-out war on the digital token sector since his appointment in 2021 – now the battle is getting messier.
Markets 2023-09-02T12:15:01Z

The housing market is stuck: Americans can't afford homes, investors aren't buying property, and economists see little relief ahead

A home inventory crunch has pushed prices higher - and that's kept Americans sidelined and forced real estate investors to pull back on spending.
Markets 2023-09-02T12:10:01Z

The stock market will hit record highs by the end of the year based on Goldilocks scenario, Bank of America says

In years when the stock market is up 10%-20% heading into September, market returns are positive 65% of the time during the month.
Markets 2023-09-02T10:45:01Z

Warren Buffett's toll roads, Elon Musk's bottlenecks, and why both men prize the same kinds of businesses

Warren Buffett loves the pricing power that toll roads offer, while Elon Musk wields huge influence by relieving bottlenecks like EV charging.
Markets 2023-09-02T09:24:28Z

The winners and losers from a so-so August that threatened to stop the 2023 stock market rally in its tracks

August's often a tough month for markets as investors head off on vacation and trading volume plunges – and 2023 proved to be no exception.
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Markets 2023-09-01T17:42:25Z

Bitcoin just had its 2nd-straight losing month as crypto sold off in August along with stocks and bonds

The world's biggest cryptocurrency failed to eke out a gain in August even as crypto investors cheered Grayscale's win over the SEC.
Markets 2023-09-01T15:57:07Z

CHART OF THE DAY: US Treasurys are on track for their longest stretch of losses since 1787

"10-year Treasury on course for third consecutive loss... has never occurred in 250-year history of US republic," Bank of America said.
Markets 2023-09-01T15:37:14Z

Why investors aren't sweating a jobs report that showed unemployment rising

The cooling of labor market tells investors that the Fed may finally be able to make a dovish pivot on monetary policy.
Markets 2023-09-01T14:26:50Z

Oil is on pace for its best week since April with Russia set to join Saudi Arabia in pumping out less crude

Oil prices are up 6% over the past five days, with Russia poised to announce production cuts next week.
Markets 2023-09-01T13:50:06Z

A scrap metal scam led to hundreds of millions in estimated losses at Europe's top copper producer

The metals industry has been rocked by massive thefts over the past year, including a bag of rocks imitating nickel at the London Metal Exchange.
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