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  • Warren Buffett just shared his best investment advice, and said the 'elite' have wasted $100 billion ignoring it
    News
    Business Insider8 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 Streetyesterday

    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

  • Business
    Yahoo Finance10 hours ago

    WARREN BUFFETT: The stock market is 'virtually certain' to be worth far more

    Warren Buffett’s annual letter to Berkshire Hathaway shareholders is out, and it’s full of wisdom from the Oracle of Omaha. In it, Buffett, the 86-year-old CEO of the company, offers his thoughts on American business and, by extension, the US stock market. “America’s economic achievements have led to staggering profits for stockholders,” Buffett writes.