Berkshire Hathaway is now underperforming the S&P 500 by almost 23 percentage points since Warren Buffett announced his retirement 📉📉
Source: Barchart
Top 10 Profitable Companies in 2024
1. Saudi Aramco: $120.7B 2. Apple: $97.0B 3. Berkshire Hathaway: $96.2B 4. Alphabet (Google): $73.8B 5. Microsoft: $72.4B 6. ICBC: $51.4B 7. JP Morgan Chase: $49.6B 8. China Construction Bank: $47.0B 9. Meta (Facebook): $39.1B 10. Agricultural Bank of China: $38.0B Source: Statista
Warren Buffett Wealth By Age
Source: Brian Feroldi
Pop n drop... Powell canned odds from 20% to 40% to 20%
Source: Mike Zaccardi, CFA, CMT, MBA
Investing advice by Warren Buffet.
At $4.3bn, equity-trading revenue for Q2 was about $600mln more than what analysts were expecting and $100mln above Q1. Source: HolgerZ, Bloomberg
Cantor Fitzgerald close to $4 billion SPAC deal with Adam Back "to buy billions of dollars" of Bitcoin.
FT >>> "Brandon Lutnick, son of US commerce secretary Howard Lutnick, is nearing a roughly $4bn deal with an early bitcoin supporter to buy billions of dollars in the digital tokens using a vehicle backed by Cantor Fitzgerald. Cantor Equity Partners 1, a blank cheque vehicle that raised $200mn in cash in an initial public offering in January, is in late-stage talks with Adam Back, founder of crypto trading group Blockstream Capital, to buy more than $3bn in the digital currency, according to two people briefed on the talks. The deal, which mirrors a $3.6bn crypto buying venture Brandon Lutnick struck with SoftBank and Tether in April, would advance Cantor Fitzgerald’s strategy of using publicly listed shell companies to buy bitcoin as it aims to take advantage of a surge in digital currency prices amid US President Donald Trump’s deregulatory push. Howard Lutnick handed control of Cantor Fitzgerald to his children in May. Back is in discussions to contribute as much as 30,000 bitcoin to Cantor Equity Partners 1, worth more than $3bn. It would be part of a broader deal with the blank cheque company in which it would raise as much $800mn in outside capital to make further purchases of the digital currency, putting the overall deal at more than $4bn". Source: FT
The Coastal Journal on X highlighted one important item published out of WellsFargo quarterly earnings results: a • $188B repo surge 📈 (+34%) in just 90 days.
While Wells Fargo $WFC beat earnings estimates, the stock is down -5.5% after market Are liquidity cracks are forming beneath the surface?
UK ministers are to bring back consumer subsidies for some electric vehicles through a new scheme worth £650mn, as they try to boost sales of battery models that still lag government targets.
Households will receive a discount of up to £3,750 per vehicle when they buy a new electric car that is priced below £37,000, under a programme to be announced on Tuesday that will include £63mn of funding for charger installations. The former Conservative government scrapped direct purchase incentives for battery-driven models in 2022, arguing that the market had sufficiently matured. But the industry has repeatedly called for more financial assistance to encourage EV purchases. Source: FT
