Warren Buffett uses his annual letter to warn about Wall Street and recount Berkshire's successes
Warren Buffett credited his longtime partner โ the late Charlie Munger โ with being the architect of the Berkshire Hathaway conglomerate heโs received the credit for leading and warned shareholders in his annual letter not to listen to Wall Street pundits or financial advisers who urge them to trade often.
Game on, again: GameStop surges and no one truly knows why
After weeks of going dormant, shares of GameStop have suddenly shot higher again, rising 18.6% Thursday after surging 75% in the last hour of trading Wednesday. After short-selling funds got badly burned by last month's sudden surge, many fewer GameStop shares are being sold short now. A day after testifying in a Congressional hearing about GameStop last week, he indicated he added another 50,000 shares after Feb. 3, doubling his GameStop stock position. On Wednesday, an hour or so before GameStop shares spiked, Cohen tweeted a photo of an ice cream cone from McDonaldโs, along with an emoji of a frog. Even so, GameStop shares changed hands more times by midday Thursday than for Apple, a company with a market value nearly 180 times the size of GameStop.
Buffett's right-hand man says US stock market is overvalued
Investor Warren Buffetts right-hand man, Munger, says the U.S. stock market is overvalued, but he doesnt know when the bubble will burst. Munger said Wednesday, Feb. 24, 2021, that the recent frenzy over GameStops stock was driven by small investors gambling on the stock market. โ Investor Warren Buffett's right-hand man says the U.S. stock market is overvalued, but he doesn't know when the bubble will burst. Munger said the recent frenzy over GameStop's stock was driven by small investors gambling on the stock market. If you have unrealistic expectations, youโre going to be miserable all your life,โ Munger said.