President Obama on Monday sternly warned Wall Street against returning to reckless and unchecked behavior that had threatened the nation with a second Great Depression. So how are investors faring one year after the financial meltdown? CNBC contributor Michael Yoshikami, president and chief investment strategist at YCMNET Advisors and Thomas Meyer, CEO and chairman of Meyer Capital Group Wealth Management shared their market insights.
The market looks healthy, the economy is going to continue to outpace expectations in the near term and this is a favorable environment for equity investing, said Liz Ann Sonders, chief investment strategist at Charles Schwab.
I was discussing the financial collapse with Clint Goodrich...I told him that Warren Buffett said, "When the tide goes out, you see who's been swimming naked." Goodrich rolled his eyes. Turns out, he thinks Buffett isn't much of an oracle. What?? Isn't that like saying Tiger Woods isn't much of a golfer??
Markets opened lower on Monday as investors worried about the U.S.-China trade dispute and reflected on the one-year anniversary of the Lehman Brothers collapse. The tariffs came on the heels of a union complaint that a surge of imports of the Chinese tires were taking away American jobs.
Over the past several months, Warren Buffett has been consistently bearish on the short-term prospects for the U.S. economy. Is he still just as pessimistic now, even as consumer sentiment improves and economists talk about the recession coming to an end? CNBC's Becky Quick will ask him in an on-camera interview to mark the one-year anniversary of the height of the global financial crisis.
Lehman Brothers moves closer to taking center stage in the crisis, but storm clouds also build over AIG and Washington Mutual.
Warren Buffett is one of twenty-seven business, government, and academic leaders endorsing what's described as a "bold call to end the focus on value-destroying short-termism" in financial markets. A new statement from the Aspen Institute argues that shareholders are playing a key role by pushing corporations for short-term stock price gains at the expense of long-term sustainability.
A recent court ruling that forced two ratings companies to defend fraud claims is a "game-changer" for the industry, said David Einhorn, head of Greenlight Capital.
Stock prices steadied at modestly higher levels as Wall Street staked a rally on rising prices of gold and oil. Weakness in the U.S. dollar helped propel commodities broadly as gold jumped above $1,000 an ounce but was retreating as noon approached. Crude oil reclaimed the $70 a barrel mark. In the meantime, the dollar hit its lowest level in nearly a year against a basket of currencies. Read and listen to what the pros had to say...
This is the text of an article on Warren Buffett's response to the financial crisis, published in the New York Times on Tuesday, September 8, 2009.
Warren Buffett always says he loves to go to work each day, and the global financial crisis has done nothing to damper that enthusiasm for his job. Buffett tells the New York Times that all the "drama" has made for an "incredibly interesting period in the last year and a half."
Warren Buffett's Berkshire Hathaway sold almost 800-thousand shares of Moody's this week, reducing its stake in the credit rating agency slightly to 16.6 percent from 17.0 percent just over a month ago. But Moody's stock slide yesterday could discourage Buffett from pulling the trigger on more sales in the very near-term.
Shares of Chinese electric-car maker BYD rallied 8 percent in Hong Kong trading today (Monday), finishing at an all-time closing of HK$48.60. The buying was apparently sparked by news wire headlines quoting BYD's chairman as saying Warren Buffett "wants" or "intends" to raise Berkshire Hathaway's 10 percent stake in the company. That interest, however, may not be new and doesn't necessarily mean Buffett will be able to buy more shares from BYD.
New York hedge fund manager John Paulson has replaced Warren Buffett as the nation's most influential investor, in the opinion of three of tonight's Fast Money traders. It's too early to know if Paulson really will be seen as the "Warren Buffett of our lifetime," as one of those traders boldly puts it, but his star is shining very brightly right now on Wall Street.
Stocks continued to rise on Tuesday after encouraging reports on home prices and consumer confidence. The Treasury auctioned off $42 billion in 2-year notes today, and it was met with mediocre demand. Pres. Obama officially reappointed Ben Bernanke for another term as Fed chairman. Watch and listen to what the pros had to say...
Warren Buffett hasn't spoken out publicly today, but we assume he's happy with President Barack Obama's announcement this morning that Ben Bernanke will be nominated for a second term as Federal Reserve Chairman. Despite his concerns the government's efforts to revive the economy over the last year will probably lead to serious inflation down the road, Buffett has repeatedly endorsed Bernanke's performance at the Fed, calling him the best person for the job.
Warren Buffett makes no secret of his love for hamburgers and Cherry Cokes, steaks and hash browns, topped off with a root beer float. Most vegetables? No, thanks. But Buffett says his "bad" eating habits aren't as absolutely awful as everyone thinks.
Many investors are anticipating a major market pullback—so when will it happen and how should you strategize? Dave Rovelli, managing director of Canaccord Adams, and Peter Costa, president of Empire Executions, shared their market outlooks.
Stocks held onto gains on Thursday after a slew of economic data, including an encouraging report on manufacturing. Additionally, Chinese stocks, which had dragged down global markets earlier this week, rebounded 4.5 percent. US stocks had initially opened lower, after a surprise jump in jobless claims. Read and listen to what the pros had to say...
Warren Buffett is back with a new piece in the New York Times, but today he's not using the high-profile platform to explicitly urge us all to buy stocks as he did last October. But there's still a big "buy" recommendation implicit in the dollar doomsday scenario he lays out in his latest op-ed.