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  • How much are Sen. Kamala Harris and her husband worth?
    Politics
    Yahoo Money

    How much are Sen. Kamala Harris and her husband worth?

    Harris is a bonafide millionaire and part of the rarefied 1% of U.S. households in income. Here’s what we know about her personal finances.

  • The stock market would love a Democratic sweep in November
    Business
    MarketWatch

    The stock market would love a Democratic sweep in November

    The stock market has loved President Trump. His policies have been the major factor behind the market’s rise. Some people think that if there is a Democratic sweep in the November election, many of Trump’s policies will be reversed and taxes will increase.

  • Business
    MarketWatch

    Soros loads up on banks, cloud-based software companies

    Billionaire George Soros showed interest in big banks and cloud-computing companies in the second quarter, according to a filing with the Securities and Exchange Commission. In the quarter ended June 30, Soros Fund Management added a new 1.2 million-share position in Bank of America Corp. , a new 515,000-share position in Citigroup Inc. , a new 258,000-share position in J.P. Morgan Chase , a new 582,000-share position in Morgan Stanley , a new 217,000-position in PNC Financial Services Group Inc. , and a new 762,000-share position in Wells Fargo & Co. . Soros also added a new 69,000-share position in CrowdStrike Holdings Inc. , and new positions of about half that size in DataDog Inc. , Palo Alto Networks Inc. , Zendesk Inc. , Splunk Inc. , and Zscaler Inc. . Soros eliminated his positions in Walt Disney Co. and Boeing Co. . Notably, he also sold off almost all of his 2 million stake in Inovio Pharmaceuticals Inc. , and trimmed his 3-million stake in Peloton Interactive Inc. to 509,000 shares.

  • Berkshire Makes a Bet on Gold Market That Buffett Once Mocked
    Business
    Bloomberg

    Berkshire Makes a Bet on Gold Market That Buffett Once Mocked

    (Bloomberg) -- Warren Buffett’s Berkshire Hathaway Inc. added Barrick Gold Corp. to its portfolio in the second quarter, sending shares of the world’s second-largest miner of the metal surging.Berkshire took a new position in Barrick, buying 20.9 million shares, or 1.2% of the company’s outstanding stock, with a current market value of $565 million, according to a regulatory filing on Friday. The filing shows moves made by Buffett or his two investing deputies, Todd Combs or Ted Weschler.In the past, Buffett, the billionaire chairman of Berkshire, cautioned against investing in the metal because it’s not productive like a farm or a company. Now, gold miners are benefiting from surging bullion prices that are boosting profit margins as costs of production have steadied, making them increasingly attractive investments. Large miners including Barrick and Newmont Corp. have been hoping to woo back generalists who fled the sector years ago.Paulson & Co., run by billionaire hedge-fund manager John Paulson, also added to its holdings in Barrick.Barrick’s shares rose 7.4% as of 5:32 p.m. in after-hours trading in New York.Buffett might’ve been averse to gold in the past, but he has bet big on metals before. In 1997, he bought 129.7 million ounces of silver, banking on demand exceeding production and re-use. He bought most of it for less than $6 an ounce and sold it soon after, he said nine years later. “I was the silver king there for a while,” he said at the time.The jump in gold prices has boosted investors’ willingness to pump billions into the industry, with precious-metals miners raising $2.4 billion in secondary equity offerings during the second quarter. Gold has gotten a boost as Federal Reserve interest-rate cuts and a plunge in real government bond yields lifted demand for the metal, which doesn’t offer interest.Read More: Barrick to Play It Safe Even as Wave of Pandemic Aid Boosts GoldFilings released this month don’t include hedge funds’ current position, which may have changed since the end of the quarter. Money managers who oversee more than $100 million in the U.S. must file a Form 13F within 45 days of each quarter’s end to list those stocks as well as options and convertible bonds. The filings don’t show non-U.S. securities, holdings that aren’t publicly traded, or cash.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.