Shares of Citigroup ( C ) jumped 7% after Warren Buffett’s Berkshire Hathaway reported a nearly $3 billion stake in the bank. Berkshire revealed the investment along with others in its quarterly 13F filing . Citigroup’s shares were down 16% this year, trailing other big banks. The bank is in the middle of a turnaround led by new CEO Jane Fraser, who took over in March of last year following years of missed financial targets and regulatory controls. Citigroup announced plans to close its consumer banking operations in 13 markets including Australia, China, and Russia. Then in March, the bank unveiled a multi-year turnaround strategy that included financial targets and a 6% increase in expenses as the bank seeks to improve its internal controls. Berkshire unloaded the rest of its stake in Wells Fargo, and sold its stakes in JPMorgan Chase and Goldman Sachs in 2020. It still owns about $41 billion of Bank of America ( BAC ) shares, which is Berkshire’s second-largest holding … [Read more...] about Buffett’s Big Bet on Citigroup
Best warren buffett documentary
Dow Jumps 400 Points After Powell Says Fed ‘Won’t Hesitate’ To Keep Raising Rates To Combat Inflation
Share to Twitter Share to Linkedin Topline The stock market moved higher on Tuesday in an attempt to bounce back after six consecutive weeks of heavy losses, as investors digested the latest comments from Federal Reserve Chair Jerome Powell, who pledged to keep raising interest rates until inflation starts “coming down.” Key Facts Stocks widely rebounded, paring back some of the steep losses from last week: The Dow Jones Industrial Average rose 1.3%, over 400 points, while the S&P 500 jumped 2% and the tech-heavy Nasdaq Composite 2.8%. The market broadly moved higher—with ten out of eleven sectors in the S&P 500 posting gains, as shares of technology stocks and financials led Tuesday’s gains. Markets initially moved higher amid a solid retail sales report and news that China could soon be taking steps to ease lockdowns in cities such as Shanghai, with optimism about reopening helping boost prospects for global economic activity. … [Read more...] about Dow Jumps 400 Points After Powell Says Fed ‘Won’t Hesitate’ To Keep Raising Rates To Combat Inflation
The Top 10 Stocks to Buy in 2022
There are literally thousands of publicly traded companies you can invest in, not to mention the many ETFs and mutual funds you can buy, so it's not surprising many investors don't know where to begin. While I don't have a crystal ball that tells me what stocks will deliver the best returns, I've tried to do the next best thing here. In this article, I'll discuss 10 stocks that I think could be great buys in 2022 for long-term investors looking to put money to work. Before we get to the stocks you're here for, let's acknowledge three caveats: Choosing the best stocks to buy today heavily depends on your personal financial situation. To get a feel for where you stand, read our guide on how to invest in stocks . It walks you through topics such as establishing an emergency fund, allocating assets, and when it makes sense to buy stocks. I like these stocks for long-term investments. I have absolutely no idea what they'll do over the next few weeks or months. While I ensured … [Read more...] about The Top 10 Stocks to Buy in 2022
Dow Falls 1,100 Points, Stock Market Selloff Continues As Major Retailers Warn Of Rising Cost Pressures
Share to Twitter Share to Linkedin Topline The stock market selloff resumed on Wednesday amid reinvigorated fears about surging inflation weighing on economic growth, as several major retailers have now reported that quarterly profits took a hit due to rising cost pressures. Key Facts The selloff on Wall Street intensified: The Dow Jones Industrial Average fell 3.6%, over 1,100 points, while the S&P 500 lost 4% and the tech-heavy Nasdaq Composite 4.7%. Markets tanked after disappointing quarterly earnings from major retailers: Shares of Target plunged over 25% after the company warned of rising costs and supply chain issues impacting profits, with the stock on pace for its worst single-day drop in roughly 25 years. The news followed a gloomy outlook from Walmart, with the nation’s largest retailer badly missing earnings expectations due to rising costs, causing shares to fall 11% on Tuesday in their largest one-day drop since 1987. … [Read more...] about Dow Falls 1,100 Points, Stock Market Selloff Continues As Major Retailers Warn Of Rising Cost Pressures