Wall Street Journal (May 5)
“Berkshire Hathaway Inc. is trading at more than $421,000 per Class A share, and the market is optimistic. That’s a problem.” The share price “has nearly hit the maximum number that can be stored in one common way exchange computers handle digits.” Nasdaq Inc.’s system tops out at $429,496.7295 and had to suspend “broadcasting prices for Class A shares of Berkshire over several popular data feeds.” Nasdaq says a fix is in the works for later this month.
Tags: Berkshire Hathaway, Class A share, Digits, Exchange computers, Market, Nasdaq, Suspend, Trading
New York Times (April 28)
“California is awash in cash, thanks to a booming market. In a single year, the state’s financial outlook has gone from surplus to deficit to surplus as capital gains tax collections have risen amid a soaring stock market and I.P.O. boom.” At the worst, the state “anticipated a $54 billion shortfall,” but it now expects a $15 billion surplus in the fiscal year that starts July 1.
Tags: Booming, California, Capital-gains, Cash, Deficit, Market, Outlook, Soaring, Stock market, Surplus, Tax collections
MarketWatch (March 28)
“Despite the upbeat note that the final full week in March delivered, strategists and market participants were chirping about a major block trade in the final minutes of Friday trading that could portend further stress on the market, which has been subject to bouts of turbulence as rising interest rates amid the rollout of COVID vaccines and a $1.9 trillion aid package complicate the financial outlook.”
Tags: Block trade, Covid, March, Market, Rates, Rollout, Strategists, Stress, Turbulence, Upbeat, Vaccines
Bloomberg (February 21)
“The American love affair with stocks is deepening as everyone from frenetic day-traders to staid institutions dive further into the market…. While aspects of the craze—the growing obsession with penny stocks and options, primarily—are the basis for daily warnings about a bubble, bulled-up positioning is proving a sturdy backbone for the rally.”
Tags: Backbone, Bubble, Craze, Day-traders, Institutions, Market, Options, Penny stocks, Staid, Stocks, U.S., Warnings
CNN (December 7)
“With days left to reach a trade deal with the European Union, the stakes have never been higher.” Boris Johnson “will have to decide whether sticking to his guns on national sovereignty… makes real-world sense given the economic price the United Kingdom will pay if negotiations fail.” In a no-deal exit “UK companies, already reeling from the pandemic, would lose tariff-free, quota-free access to a market of 450 million consumers that is currently the destination for 43% of British exports.”
Tags: Access, Consumers, EU, Johnson, Market, Negotiations, No-deal, Pandemic, Quotas, Sovereignty, Stakes, Tariffs, Trade, UK
Bloomberg (June 15)
With the U.S. and China poised for a “Great Decoupling,” many American “executives worry they will be shut out of what remains the world’s most promising market. The more the U.S. blocks the export of components like semiconductors and jet engines to China, and imposes tough sanctions on anyone who violates such bans, the more it will force not just Chinese companies to stop buying American components but those from third countries aiming to sell to China.”
Tags: Bans, China, Executives, Exports, Great Decoupling, Jet engines, Market, Promising, Sanctions, Semiconductors, U.S.
Bloomberg (May 29)
“It looks as though the market is at or approaching a tipping point right now. What happens next will be driven by the two most important narratives of the day — the attempt to reopen economic activity after the Covid-19 pandemic, and worsening relations between the U.S. and China.”
Tags: COVID-19, Economic activity, Market, Narratives, Pandemic, Reopen, Tipping point, U.S.
Investment Week (May 18)
“Credit fundamentals have worsened since the market sell-off began, although central banks could provide some companies with a soft landing and many firms have drawn on their credit lines in a bid to stay afloat.” Even though “the impact is highly correlated across geographies, industries and asset classes…the potential outcomes are too severe to only affect equities and credit-market fundamentals have undoubtedly been impacted.”
Tags: Asset classes, Central banks, Correlated, Credit, Equities, Fundamentals, Geographies, Industries, Market, Outcomes, Sell-off, Severe, Soft landing, Worsened
Forbes (March 22)
“The most unique aspect to this market crisis is the sheer speed of the decline. The S&P 500 has dropped 30% in a month, in the crisis of 2008 a 30% drop from the market’s high took almost a year. If 2008’s decline was a Toyota Camry, this decline is a Ferrari.”
New York Times (February 27)
“Freaked out by the stock market? Take a deep breath.” This is not a time for drastic portfolio moves unless “there have been drastic changes in your life, like a big new job or consequential medical news.” Otherwise, remember that if you “hold on long enough to a diverse collection of stocks…the system has tended to generously repay patient people over six or seven decades of working, saving and drawing down a portfolio.”
Tags: Deep breath, Drastic, Freaked out, Market, Patient, Portfolio, Saving, Stocks, Working
