Berkshire Hathaway

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."

Frontrunning: August 21

  • Trump to present vision for U.S. strategy in Afghanistan war (Reuters)
  • Trump Struggles to Move Past Bannon, Starting With Afghanistan (BBG)
  • Final Plans Under Way as Solar Eclipse Nears (WSJ)
  • Yellen, Draghi Head to Jackson Hole Amid Inflation Unease (BBG)
  • Cohn Solidifies Lead in Race to Replace Yellen, Economists Say (BBG)

Eclipse Day Begins With S&P Futures Flat While Industrial Metals Soar

S&P500 futures, as well as Asian and European stocks, started off the week off unchanged after the S&P cash index fell to its lowest level in five weeks on Friday, with the "Bannon rally" fading on growing concerns about the US political situation, while tensions ratcheted up again as the US and South Korea began massive military drills

Frontrunning: August 17

  • Trump policy doubts, weak inflation to weigh on Wall Street (Reuters)
  • Trump Remarks on Violent Rally Rattle Aides, Risk Agenda (WSJ)
  • Trump blasts Republican senators over Charlottesville criticism (Reuters)
  • Trump's crisis spurs talk of White House departures (Reuters)
  • Apple denounces neo-Nazis as Spotify bans ‘white power’ tracks (Guardian)