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  • Warren Buffett just shared his best investment advice, and said the 'elite' have wasted $100 billion ignoring it
    News
    Business Insider6 hours ago

    Warren Buffett just shared his best investment advice, and said the 'elite' have wasted $100 billion ignoring it

    Warren Buffett's Berkshire Hathaway is out with its annual letter to shareholders. "Over the years, I’ve often been asked for investment advice, and in the process of answering I’ve learned a good deal about human behavior," Buffett said in the letter.

  • 5 other large retailers besides J.C. Penney closing a huge amount of stores
    Business
    The Street22 hours ago

    5 other large retailers besides J.C. Penney closing a huge amount of stores

    The Great Restructuring in retail continues.  In the wake of a disappointing holiday season, J.C. Penney (JCP) said Friday it will close 130 to 140 stores by the second quarter. The store closures represent 13% to 14% of the company's current store base and less than 5% of annual sales. They have a negligible impact on net income. J.C. Penney said same-store sales at the locations were "significantly below" the remaining store base and operate at a much higher expense rate due to poor productivity. The company expects $200 million in annual costs savings from the efforts. "We believe closing stores will also allow us to adjust our business to effectively compete against the growing threat of

  • Finance
    Yahoo Finance4 hours ago

    The mistake that caused Warren Buffett to lose $6 billion

    “Today, I would rather prep for a colonoscopy than issue Berkshire shares,” writes Warren Buffett in his latest letter to Berkshire Hathaway (BRK-A, BRK-B) shareholders. “I earlier described our gradual shift from a company obtaining most of its gains from investment activities to one that grows in value by owning businesses,” Buffett writes. “Launching that transition, we took baby steps — making small acquisitions whose impact on Berkshire’s profits was dwarfed by our gains from marketable securities.