The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all plunged into respective bear markets last year and produced their worst returns since 2008. Despite being held down by historically high inflation in the short run -- higher inflation reduces the discretionary spending power of low earners -- PayPal's digital payment networks (PayPal and Venmo) are still in the early innings of their growth. Read More...
Barrons.com
Warren Buffett Appears to Swipe at President Biden in Shareholder Letter
Berkshire Hathaway CEO Warren Buffett’s annual letter, released on Saturday morning, included the usual homespun wisdom that his shareholders have come to expect, with modest and self-effacing reflections on his own unearned luck and fallibility. In that section, Buffett discusses companies that buy back their own shares, which he describes as a benefit to shareholders—assuming the shares are bought at a reasonable price. Berkshire Hathaway bought back $7.9 billion of its own shares last year, a decrease from 2021.
