Business magnate Warren Buffett, one of the world’s most successful investors, is someone millions turn to for advice and feedback. Gautam Baid, the founder of Stellar Wealth Partners, is among them. In a tweet on June 9, Gautam Baid shared a letter he received from Buffett last year. The Stellar Wealth boss said that since early 2021, he had been working on introducing the most “partner-centric structure” for his India equity fund in the US and Warren Buffett ’s advice really helped him. “I think the arrangement you describe is eminently fair,” Buffett wrote to Baid. “Incidentally, all of my original partners preferred this sort of arrangement to one that used DJIA (Dow Jones Industrial Average) or S&P 500 Index as the bogey. Good luck.” Since early 2021, I had been working on implementing the most partner-centric structure for my India equity fund in the US. Warren Buffett's feedback greatly helped. Close I am very pleased with the fund's final … [Read more...] about Stellar Wealth founder Gautam Baid received this feedback from Warren Buffett
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Foreign selling of Malaysian equities persisted at a slower pace of RM61.5m last week, says MIDF
- A + A KUALA LUMPUR (June 27): Foreign selling of Malaysian equities continued last week albeit at a slower pace of RM61.51 million (from RM511.51 million the prior week). In its weekly fund flow report on Monday (June 27), the MIDF Research team said foreign investors were net sellers again last week, particularly last Monday and Wednesday, which saw net outflows of RM17.2 million and RM189.5 million respectively. It said before the heavy selling last Wednesday, they net bought RM133.7 million worth of Malaysian equities last Tuesday. “While we saw a return to net inflows last Thursday and Friday, amounting to RM5 million and RM6.5 million respectively, it was not enough to turn the tide for the week. “As a result, the week ended with a net outflow of RM61.5 million by foreign investors,” it said. MIDF said local institutions turned into net sellers again last week after net buying for two consecutive weeks, albeit at a marginal pace of RM7.9 million. … [Read more...] about Foreign selling of Malaysian equities persisted at a slower pace of RM61.5m last week, says MIDF
Bursa opens higher after Wall Street’s relief rally
- A + A KUALA LUMPUR (June 27): Bursa Malaysia opened higher on Monday (June 27) following a relief rally staged by Wall Street last Friday with all three major US indices closing broadly higher, a dealer said. At 9.05am, the FBM KLCI had gained 2.99 points to 1,439.69 from last Friday's close at 1,436.70. The benchmark index opened 2.12 points higher at 1,438.82. Overall market breadth was positive as gainers surpassed losers 198 to 99, while 189 counters were unchanged, 1,822 untraded and 55 others suspended. Turnover stood at 169.15 million units worth RM58.65 million. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said despite facing numerous headwinds, the Dow Jones Industrial Average ticked up 823 points and the Nasdaq Composite jumped 375 points as the US 10-year yield increased to almost the 3.14% level last Friday. The S&P 500 added 116.01 points to finish at 3,911.74. On the home front, given that the FBM KLCI made a mild … [Read more...] about Bursa opens higher after Wall Street’s relief rally