Finance

Warren Buffett fully supports Apple’s plan to buy back more of its own shares. On Tuesday, the smartphone maker announced a new $100 billion stock buyback program. “From our standpoint we would love to see Apple go down in price,” he said at the Berkshire Hathaway 2018 annual shareholder meeting on Saturday. “We very much
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Here is what we found. 1) Circle of competence “Different people understand different businesses. And the important thing is to know which ones you do understand and when you’re operating within what I call your circle of competence.” — Warren Buffett, 1999 Berkshire Hathaway Annual Meeting Buffett stressed the importance looking at companies that are
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Activist investor Dan Loeb wants United Technologies to split into three companies, according to a letter from his Third Point hedge fund Friday. “To reverse its years of underperformance and realize the full potential of its franchise assets, we believe UTC should split into three focused, standalone businesses: Otis [Elevator Company], [UTC Climate, Controls &
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HSBC, Europe’s largest banks by assets, on Friday reported a 4 percent fall in profit before tax in the first quarter of 2018 as operating costs rose. The bank’s pre-tax profit for the first three months of the year fell to $4.755 billion from the $4.961 billion a year ago. At the same time, operating
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Thursday’s roller-coaster ride on Wall Street was the market’s attempt to assess risks, said Nicholas Colas, co-founder of Datatrek Research. “The underlying tone of the market is one toward volatility,” the Wall Street veteran told CNBC on Thursday. “The market is worried about a bunch of different factors, some of which are political and others
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Broad global economic expansion is making assets expensive, so forget investing passively, an investment manager told CNBC on Thursday. Instead, he recommend considering niche growth areas like avocados. “Be very specific about what you do. Look for idiosyncratic, value and unusual niches rather than broad assets and broadly passive allocation,” said Stephen Diggle, founder of
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Investors are putting too much attention on Square’s bitcoin ambitions, Citron Research’s Andrew Left told CNBC’s “Fast Money” on Wednesday. The well-known short-seller was on to talk about Square, cryptocurrencies and Alibaba, the Chinese e-commerce giant. Earlier this week, Left tweeted that “WallSt. drunk on Bitcoin nonsense.” He put a short-term $30 price target on
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The ecosystem around bitcoin is still changing, but U.S. Commodity Futures Trading Commission Chairman J. Christopher Giancarlo said the popular cryptocurrency is part currency, part security and part digital coin. “Bitcoin and a lot of its other virtual currency counterparts really have elements of all of the different asset classes, whether they’re meeting payment, whether
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Goldman Sachs’ push into consumer finance presents significant opportunities for growth, President and COO David Solomon said Monday. “I think it’s a big opportunity for the firm,” Solomon told CNBC’s David Faber on “Squawk Alley” from the Milken Institute Global Conference. Marcus, the bank’s consumer lending business, accounts for $1 billion of Goldman’s plan to
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Damaging revelations of misconduct at Australia’s largest listed money manager, AMP, may take years to fix, according to Morningstar. “It’s going to be a rough, rocky ride for the next six months, twelve months, probably even longer for investors in AMP,” Morningstar Analyst David Ellis told CNBC’s “Street Signs.” Catherine Brenner resigned Monday from her
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China’s securities regulator has released new guidelines for foreign investment in Chinese security joint ventures in which it eased some restrictions and launched an application process for more foreign ownership. The consultation period for the new rules that began in March is now over and the final regulations have been officially released for immediate implementation,
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