Stocks Climb After Lawmakers Agree on $2 Trillion Coronavirus Stimulus

Stocks climbed on Wednesday after U.S. lawmakers agreed on a $2 trillion stimulus bill to buttress the economy against the novel coronavirus. March 25, 2020 3 min read This story originally appeared on Business Insider Global stocks rose on Wednesday after U.S. lawmakers reached terms on a $2 trillion stimulus package intended to shore up the U.S. economy against the novel coronavirus pandemic. The gains followed a historic rally on Tuesday, which saw the Dow Jones Industrial Average surge more than 11% — its biggest percentage gain since 1933. The Senate is set to vote on a bill that would provide around $500 billion in loans and other assistance to companies and state and local governments, grant north of $350 billion in aid to small businesses, and earmark $150 billion for hospitals and other healthcare providers, according to Bloomberg. The proposed legislation would also deliver $1,200 checks to lower- and middle-income American adults and $500 […]

Read more

Warren Buffet’s Berkshire Hathaway Loses $3 Billion in Airline Stocks

The billionaire investor’s conglomerate counts Delta, Southwest, United, and American among its 25 biggest holdings, and owns more than 8% of all four companies. March 12, 2020 2 min read This story originally appeared on Business Insider Warren Buffett’s Berkshire Hathaway suffered another blow this week after President Donald Trump announced restrictions on European travel to the US in response to the coronavirus threat, sending airline stocks into a tailspin. The famed investor’s conglomerate counts Delta Air Lines, Southwest Airlines, United Airlines, and American Airlines among its 25 biggest holdings, and the quartet made up about 4% of its portfolio at the end of December. Berkshire owned more than 8% of each of the four companies at the end of December, and together those shares were worth about $10 billion at that time, according to Gurufocus. However, shares in American and United have more than halved in value since the start of this year, and Delta and Southwest […]

Read more

On Valentines Day Warren Buffet Explains Why See’s Candy is His ‘Dream Business’

The billionaire investor, who bought See’s Candy in 1972, says people associate the boxes with romance. February 14, 2020 2 min read This story originally appeared on Business Insider Warren Buffett loves using Valentine’s Day to explain why See’s Candies is his “dream business.“ The billionaire investor and Berkshire Hathaway CEO says people associate the boxes of chocolates with romance. Therefore, See’s can price them based on their emotional value instead of their production cost. Berkshire-owned See’s doesn’t have to worry about rivals undercutting and stealing its customers either, as people won’t opt for cheaper candy if their relationships might suffer, Buffett argues. “If you go to your wife or your girlfriend on Valentine’s Day — I hope they’re the same person — and say, ‘here’s a box of candy honey, I took the low bid,’” Buffett told shareholders in 2017, “It loses a little [impact] as you go through that speech.” […]

Read more

Warren Buffett Drinks 5 Cans of Coke a Day — Here’s Why He Switched From Pepsi After Nearly 50 Years

Warren Buffett famously consumes five cans of Coke a day. December 26, 2019 3 min read This story originally appeared on Business Insider Warren Buffett famously consumes five cans of Coke a day. However, he drank Pepsi for nearly 50 years, and only switched sodas because an old neighbor intervened, Glen Arnold wrote in “The Deals of Warren Buffett Volume 2: The Making of a Billionaire.” “I’m one-quarter Coca-Cola,” the 89-year-old investor told Fortune in 2015, explaining the drink accounts for 25% of his daily calorie intake. Related: Warren Buffett’s Remarkably Simple Mantra for Success Buffett’s money has followed his mouth. His Berkshire Hathaway conglomerate owns about 10% of Coca-Cola, a stake worth around $22 billion. The so-called Oracle of Omaha especially likes Cherry Coke. He agreed to have a cartoon of himself slapped on cans of the drink when it launched in China in 2017, and declined to charge a fee, he told Yahoo Finance. However, […]

Read more

Beyond Meat’s CEO Says It’s 75% of the Way Towards Matching Animal Meat

The goal is to replicate the look, smell, taste and other attributes of animal meat. July 30, 2019 3 min read This story originally appeared on Business Insider It could be a while before Beyond Meat lives up to its name. The maker of plant-based burgers and sausages estimates it’s three-quarters of the way towards matching the look, smell, taste and other attributes of animal meat. The Beyond Burger 2.0, launched in June, represents its best effort so far. “I think it’s quite a bit further in the direction of our true north, which is animal protein,” CEO Ethan Brown said on the second-quarter earnings call this week. “I’d say it’s maybe 75% of the way there.” The company’s shares are set to tank on Tuesday after reporting earnings, spending more than expected.  Brown acknowledged his team “have miles to travel” and the final 25% “will be more difficult.” However, their tools, expertise, and […]

Read more

Warren Buffett Recently Invested in Amazon. It Made Him Nearly $250 Million Before.

Buffett called himself ‘an idiot for not buying’ Amazon shares before. May 3, 2019 2 min read This story originally appeared on Business Insider Warren Buffett on Thursday evening revealed to CNBC that his Berkshire Hathaway conglomerate has taken a stake in Amazon. The legendary investor will hope lightning strikes twice: he made a massive $246 million — an 84% return in five years — on a previous investment in the e-commerce titan. Buffett called himself “an idiot for not buying” Amazon shares before. He joked there were “no personality changes taking place” as one of Berkshire Hathaway’s investment managers purchased the stock. The Sage of Omaha shouldn’t be so hard on himself. After the dot-com bubble burst, Berkshire Hathaway made “sensible investments” in junk bonds and loans, growing its holdings six-fold to $8.3 billion, Buffett wrote in his 2002 letter to shareholders. The company amassed 310 million euros worth of Amazon bonds in 2001 […]

Read more