Berkshire Hathaway

Visualizing How Billionaire Investors Hedge Against Geopolitical Black Swans

"The world is approaching a major inflection point and the intense amount of global angst we’re experiencing now stems from deep, structural forces that have been building over decades... we are experiencing the perfect storm of '-isms': nationalism, nativism, protectionism, and isolationism."

American Express CEO Ken Chenault Is Retiring

American Express Company said today that its Board of Directors has appointed Stephen J. Squeri Chief Executive Officer and elected him Chairman of the Board, each effective February 1, 2018. Mr. Squeri, 58, will succeed Kenneth I. Chenault, 66, who will retire after a 37-years with the Company.

Flatliners - Dead Market Walking

"...all risk has been flat-lined in this grand central bank experiment...  but any trader staring at the tape knows that we find ourselves in the most compressed price environment in history. This is not normal, there’s no heartbeat..."

Frontrunning: October 4

  • Spanish tensions bar Europe from global stocks party (Reuters)
  • Catalonia to move to declare independence from Spain on Monday (Reuters)
  • Catalan Police Chief Investigated For Sedition (TSR)
  • Trump Suggests Puerto Rico’s Debt May Need to Be ‘Wiped Out’ (BBG)
  • Trump Heads to Las Vegas After Shooting Reignites Gun Debate (BBG)

Warren Buffett Reveals His Biggest Fear

"If we're talking broadly, the answer is weapons of mass destruction. Now you've got weapons that can kill millions and millions and millions of people, and you've got them in unstable hands."