Charlie Munger of Berkshire Hathaway has said: The world is full of foolish gamblers, and they will not do as well as the patient investor.

Charlie Munger of Berkshire Hathaway has said: The world is full of foolish gamblers, and they will not do as well as the patient investor. The 99-year-old Munger also gave a statement regarding crypto in a piece in The Wall Street Journal. The op-ed piece included his

Newton's lost fortune

This is funny. If you thought you had difficulty in the market, Isaac Newton lost all his fortune. The chart below shows how: "I can calculate the movement of stars, but not the madness of men," Newton apparently said after he lost his fortune. This is a chart

Rail unions tell Biden officials workers have fallen ill at Norfolk Southern, $NSC, derailment site where toxic chemicals were spilled

Rail unions tell Biden officials workers have fallen ill at Norfolk Southern, $NSC, derailment site where toxic chemicals were spilled. “My hope is the stakeholders in this industry can work towards the same goals related to safety when transporting hazardous materials by rail,” said Mike Baldwin, president of the Brotherhood

Another Norfolk Southern, NSC, train has derailed in Ohio

Another Norfolk Southern, $NSC, train has derailed in Ohio, per Reuters. Currently the local officials have asked the residents to shelter in place. Norfolk Southern said the train that derailed near Springfield, Ohio was not carrying any hazardous materials and that no one was hurt. "No hazardous materials are

California is weighing on $360,000 in reparations to eligible black residents

California is weighing on $360,000 in reparations to eligible black residents, per Bloomberg. One of the models under consideration suggests the state would owe a total of almost $640 billion to 1.8 million Black Californians with an ancestor enslaved in the US, per Bloomberg. California’s task force

The Justice Department and the Securities and Exchange Commission are hunting for a new type of insider-trading case

The Justice Department and the Securities and Exchange Commission are hunting for a new type of insider-trading case, specifically prearranged trading plans, per WSJ. The SEC first permitted such plans through a regulation passed in 2000 and known as Rule 10b5-1. The 10b5-1 regulation had loopholes, such

Costco, $COST, is keeping the price of its hotdog at $1.50

Costco, $COST, is keeping the price of its hotdog at $1.50, despite inflation. The wholesale retailer saw a slight miss in quarterly revenue, coming in at $55.27 billion, but up 6.5% from a year ago. Meanwhile net sales saw a 6.5% increase, to $54.24 billion,

crypto.com

Crypto.com sues a woman for using the $10.5 million accidentally sent to her after she asked for a $100 refund

Per Decrypt An Australian woman asked Crypto.com for a $100 refund, and instead of being sent the exact amount, $10.5 million was sent to her account. Now, the company is suing her after she bought a luxury house and went on a spending spree. 7news shared how Crypto.

morgan stanley

Morgan Stanley warns that the 2023 stock rally is a "bull trap"

Per Business Insider Morgan Stanley warns against investors getting too positive in the recent stock rally. The company is saying that this could just be a "bull trap" and that investors have to brace themselves for what's to come. Mike Wilson gave a statement sharing how

openai

Walmart blocked ChatGPT with new guidelines barring employees from sharing customer info with the AI tool

Per Business Insider Walmart Global Tech has decided to take a strong stance against using ChatGPT by employees. The company has decided to block the use of the AI bot with new guidelines saying employees shouldn't share any customer info with the tool. An internal memo to employees

cash

Cash trumps stock-bond portfolios for the first time since 2001

For the first time since 2001, cash has outperformed having a stock-bond portfolio. This meant that individuals could get more out of cash instead of the regular stock-bond portfolio. Specifically, the stock-bond portfolio referred to the classic 60/40 of having short-term bonds in the portfolio.

retirement

Q4 2022 average individual retirement account balance at $104,000 after a 20% drop

Per CNBC Americans' average individual retirement account savings have dropped significantly in the fourth quarter of 2022. After a 20% drop year-over-year, Americans have just $104,000 in their retirement savings accounts. Fidelity's president of workspace investing, Kevin Barry, gave a statement regarding how Americans

Apple, AAPL, iPhone maker Foxconn plans $700 million plant in India, in shift away from China

Apple, $AAPL, iPhone maker Foxconn plans $700 million plant in India, in shift away from China, per Bloomberg. Taiwan’s Foxconn is already making latest iPhones in India. Apple suppliers look to lower reliance on China production, per Bloomberg. In January, Apple is making its presence known in India as

The Federal Reserve's Christopher Waller speech was scrapped after a participant hijacked the feed and displayed pornographic content that was visible to viewers

The Federal Reserve's Christopher Waller  speech was scrapped after a participant hijacked the feed and displayed pornographic content that was visible to viewers, per Bloomberg. “We were a victim of a teleconference or Zoom hijacking and we are trying to understand what we need to do going forward

US to announce new military aid package for Ukraine

US to announce new military aid package for Ukraine, per Reuters. This is worth roughly $400 million and comprised mainly of ammunition. On Feb 20, Biden was in Ukraine in a surprise visit. He pledged another $460 million in Ukraine assistance. "One year later, Kyiv stands,” Biden said. “And

Mortgage applications for home purchases fall to a 28-year low

Mortgage applications for home purchases fall to a 28-year low, per Michael Kantro. Meanwhile, the average rate on the 30-year fixed mortgage jumped back over 7%, rising to 7.1%, per CNBC. “Rates continue to move at the suggestion of economic data, and the data hasn’t been

Existing condos have worst year on year drop since 2000 in January

Existing condo sales in January undercut their pandemic low, -43.1% year/year drop is worst on record going back to 2000, per Liz Ann Sonders. Meanwhile, the average rate on the 30-year fixed mortgage jumped back over 7%, rising to 7.1%, per CNBC. “Rates continue to move

U.S. regulators rejected Elon Musk’s bid to test brain chips in humans, citing safety risks

U.S. regulators rejected Elon Musk’s bid to test brain chips in humans, citing safety risks, per CNBC. Such FDA rejections do not mean a company will ultimately fail to gain the agency’s human-testing approval. But it was rejected at least once in 2022, per Reuters. "

Blackstone, BX, has defaulted on a 531 million euro ($562.5 million) bond backed by a portfolio of offices and stores owned by Finnish company Sponda Oy

Blackstone, $BX, has defaulted on a 531 million euro ($562.5 million) bond backed by a portfolio of offices and stores owned by Finnish company Sponda Oy, per Bloomberg. "This debt relates to a small portion of the Sponda portfolio. We are disappointed that the Servicer has not advanced

The average rate on the 30-year fixed mortgage jumped back over 7%, rising to 7.1%

The average rate on the 30-year fixed mortgage jumped back over 7%, rising to 7.1%, per CNBC. “Rates continue to move at the suggestion of economic data, and the data hasn’t been friendly. This is scary considering this week’s data is insignificant compared to several upcoming

JPMorgan, JPM, says electric flying vehicles will be a $1 trillion market

JPMorgan, $JPM, says electric flying vehicles will be a $1 trillion market. JPM reportedly recommends Eve for this, per CNBC. Recently, numerous EVs were having occasional difficulties. Ford, $F, temporarily halted production and stopped shipments of its F-150 Lightning electric pickup truck in Feb 14. "We are not

The Biden administration approved more than $23 billion worth of licenses to blacklisted Chinese companies in the first quarter of 2022

The Biden administration approved more than $23 billion worth of licenses for companies to ship U.S. goods and technology to blacklisted Chinese companies in the first quarter of 2022, per Reuters. “Overwhelmingly, (the Commerce Department) continues to grant licenses that allow critical U.S. technology to be sold to

US debt limit increase over $20 trillion over next ten years

The US government currently has a debt pile of $31 trillion, and that's expected to increase by more than $20 trillion over the next 10 years. That's $5.2 billion every single day, or $218 million every single hour, per Bank of America, $BAC. The US

morgan stanley

Morgan Stanley's Mike Wilson says stocks are now in a 'death zone' after climbing too high

Per Business Insider Morgan Stanley's Mike Wilson gives his thoughts on the current state of the stock market, saying it is now in a "death zone" with predictions of its potentially massive drop. Wilson estimates that the S&P 500 could drop down to 3,

americans

Number of Americans with side hustles spiked from 13% in 2020 to 44% in 2022

Americans have reportedly been struggling to make ends meet, and with inflation remaining the driving factor, 44% of them decided to take up a side hustle on top of their full-time jobs last year. In 2020, only 13% of Americans reportedly worked a side hustle on top of their