Mnuchin says progress being made on debt limit deal, markets shouldn’t be concerned

“I think everybody is in agreement that we won’t do anything that puts the U.S. government at risk in terms of our issue of defaulting. So I don’t think the market should be concerned, and we’re working hard. He added that everybody involved is aware of the risks that the inability to reach a deal would bring. The Treasury has been using a series of “extraordinary measures” to keep the government running while the spending impasse continues. Mnuchin earlier had said that those measures could kee


“I think everybody is in agreement that we won’t do anything that puts the U.S. government at risk in terms of our issue of defaulting. So I don’t think the market should be concerned, and we’re working hard. He added that everybody involved is aware of the risks that the inability to reach a deal would bring. The Treasury has been using a series of “extraordinary measures” to keep the government running while the spending impasse continues. Mnuchin earlier had said that those measures could kee
Mnuchin says progress being made on debt limit deal, markets shouldn’t be concerned Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: jeff cox
Keywords: news, cnbc, companies, progress, deal, working, concerned, spending, suspending, agreement, shouldnt, debt, sides, service, limit, markets, think, mnuchin, measures, treasury


Mnuchin says progress being made on debt limit deal, markets shouldn't be concerned

Treasury Secretary Steven Mnuchin told CNBC on Thursday the administration and congressional leaders are continuing toward resolving an impasse over the debt ceiling and he is confident an agreement will be reached that will ensure the U.S. does not default on its obligations.

“I don’t think the market should be concerned,” he said. “I think everybody is in agreement that we won’t do anything that puts the U.S. government at risk in terms of our issue of defaulting. I think that nobody wants a shutdown in any scenario. So I don’t think the market should be concerned, and we’re working hard. We’ll get there one way or another.”

In what he called his “most conservative” scenario, the U.S. could lose its spending ability by early September. At that point, the Treasury would not be able to make payments on its $22 trillion debt load, a potentially catastrophic event that would ripple through financial and world markets.

Both sides have been negotiating on reaching future spending limits and a longer-term agreement on continuing to allow the government the ability to borrow. There have been some indications that an agreement is near, though CNBC’s Ylan Mui reported earlier that the two sides remain significantly apart.

In the interview on “Squawk Box, ” Mnuchin said he has been having “daily conversations” with House Speaker Nancy Pelosi, D-Calif., they have reached an agreement on “top-line” spending numbers over a one- and two-year period, and are now working on “offsets” to put caps on spending.

He added that everybody involved is aware of the risks that the inability to reach a deal would bring.

“I’ve discussed that with the leadership of both the House and the Senate,” he said. “That’s why I’ve encouraged them to raise the debt ceiling before they leave.”

Lawmakers plan on leaving for their August recess on July 26.

The Treasury has been using a series of “extraordinary measures” to keep the government running while the spending impasse continues. The measures currently in use entail halting sales of state and local government series Treasury securities, redeeming existing sales and suspending any new investments of civil service and Postal Service pension funds, and suspending reinvestments of the Government Securities Investment Fund and the Exchange Stabilization Fund.

Mnuchin earlier had said that those measures could keep the U.S. afloat into November, but recently shortened the time span.


Company: cnbc, Activity: cnbc, Date: 2019-07-18  Authors: jeff cox
Keywords: news, cnbc, companies, progress, deal, working, concerned, spending, suspending, agreement, shouldnt, debt, sides, service, limit, markets, think, mnuchin, measures, treasury


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Warren Buffett doesn’t worry about how his investments perform year over year—here’s why you shouldn’t either

Berkshire Hathaway CEO Warren Buffett doesn’t care how well the companies he’s invested in did last year — he’s more concerned with how they perform over decades. “We’ve made a lot of money in stocks over time,” he told CNBC’s Becky Quick during an interview on “Squawk Box” in February. Buffett chooses companies that he believes will perform well long-term, regardless of how they’re doing at any given point. “We sort of know it when we see it,” Buffett said during the Berkshire Hathaway 2017 Ann


Berkshire Hathaway CEO Warren Buffett doesn’t care how well the companies he’s invested in did last year — he’s more concerned with how they perform over decades. “We’ve made a lot of money in stocks over time,” he told CNBC’s Becky Quick during an interview on “Squawk Box” in February. Buffett chooses companies that he believes will perform well long-term, regardless of how they’re doing at any given point. “We sort of know it when we see it,” Buffett said during the Berkshire Hathaway 2017 Ann
Warren Buffett doesn’t worry about how his investments perform year over year—here’s why you shouldn’t either Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-06-28  Authors: emmie martin
Keywords: news, cnbc, companies, worry, quick, hes, money, shouldnt, investments, theyre, companies, perform, warren, yearheres, doesnt, buffett, berkshire, told, hathaway


Warren Buffett doesn't worry about how his investments perform year over year—here's why you shouldn't either

Berkshire Hathaway CEO Warren Buffett doesn’t care how well the companies he’s invested in did last year — he’s more concerned with how they perform over decades.

“We’ve made a lot of money in stocks over time,” he told CNBC’s Becky Quick during an interview on “Squawk Box” in February. “But there’s been years when we’ve lost money, too.”

While he expects Berkshire to come out ahead over time, “we haven’t got the faintest idea what years we’ll be up or down,” he says.

Buffett chooses companies that he believes will perform well long-term, regardless of how they’re doing at any given point. This “buy and hold” strategy is one he has reiterated time and time again. When deciding if he should put money into a company, longevity has always been a major consideration.

“We sort of know it when we see it,” Buffett said during the Berkshire Hathaway 2017 Annual Shareholders Meeting. “It would tend to be a business that for one reason or another we can look out five or 10 or 20 years, and decide that the competitive advantage that it had at the present would last over that period.”

Because of that, he doesn’t pay attention to the news when making investment decisions.

“I’m not buying them because I think they’re going to go up the next day or the next week,” he told Quick in February. “We watch the prices of things we do more than current events.”


Company: cnbc, Activity: cnbc, Date: 2019-06-28  Authors: emmie martin
Keywords: news, cnbc, companies, worry, quick, hes, money, shouldnt, investments, theyre, companies, perform, warren, yearheres, doesnt, buffett, berkshire, told, hathaway


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AOC introduces her latest ‘unusual’ policy—3 months of paid parental leave for her staff

“I’d like to share another ‘unusual’ (but shouldn’t be) part of my office policy w/ you all: Parental Leave!” In my office, *every* new parent receives 3 mos paid leave – including dads.” “Paid parental leave applies to ALL new parents, period. If you’ve got a new child, you get 12 weeks to spend adjusting your family to this huge transition,” she wrote. “Our 12 weeks parental leave is up to the parent on how they want to use that time.


“I’d like to share another ‘unusual’ (but shouldn’t be) part of my office policy w/ you all: Parental Leave!” In my office, *every* new parent receives 3 mos paid leave – including dads.” “Paid parental leave applies to ALL new parents, period. If you’ve got a new child, you get 12 weeks to spend adjusting your family to this huge transition,” she wrote. “Our 12 weeks parental leave is up to the parent on how they want to use that time.
AOC introduces her latest ‘unusual’ policy—3 months of paid parental leave for her staff Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-10  Authors: abigail hess, reuters jeenah moon file photo, spencer platt getty images, brendan smialowski afp getty images
Keywords: news, cnbc, companies, policy3, parents, shouldnt, paid, policy, parental, months, transition, 12, unusual, latest, staff, office, aoc, leave, weeks, introduces


AOC introduces her latest 'unusual' policy—3 months of paid parental leave for her staff

On Friday Rep. Alexandria Ocasio-Cortez announced what she calls another “‘unusual’ (but shouldn’t be)” dimension of her office policy: In addition to paying all of her staffers at least $52,000 a year and paying interns $15 an hour plus benefits, her office will provide three months of paid parental leave.

“I’d like to share another ‘unusual’ (but shouldn’t be) part of my office policy w/ you all: Parental Leave!” the congresswoman tweeted on Friday. “Three members of our small team are expectant or new parents in the first 6 mos of my term. In my office, *every* new parent receives 3 mos paid leave – including dads.”

In an eight-part Twitter thread, she detailed how the policy works for her staff.

“Paid parental leave applies to ALL new parents, period. Moms, dads, parents; biological or adopted. If you’ve got a new child, you get 12 weeks to spend adjusting your family to this huge transition,” she wrote. “Our 12 weeks parental leave is up to the parent on how they want to use that time. They don’t have to take all 12 weeks at once – for example, they can take 5 weeks off and work 2 days a week to transition in; bank 3 weeks for later in the year, etc.”


Company: cnbc, Activity: cnbc, Date: 2019-05-10  Authors: abigail hess, reuters jeenah moon file photo, spencer platt getty images, brendan smialowski afp getty images
Keywords: news, cnbc, companies, policy3, parents, shouldnt, paid, policy, parental, months, transition, 12, unusual, latest, staff, office, aoc, leave, weeks, introduces


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BlackRock’s Rieder says Fed shouldn’t be too concerned about low inflation

BlackRock’s Rick Rieder said Wednesday the Fed is unnecessarily concerned about low inflation and is more likely to raise interest rates before it cuts them. Rieder, BlackRock’s global CIO of fixed income, said the way the Fed discusses weaker inflation Wednesday afternoon following its two-day meeting could impact markets. “They should target nominal GDP,” he said, noting that first-quarter real GDP was 3.2% and core inflation was 1.6%. “If you’re running at a nominal GDP that is above trend wi


BlackRock’s Rick Rieder said Wednesday the Fed is unnecessarily concerned about low inflation and is more likely to raise interest rates before it cuts them. Rieder, BlackRock’s global CIO of fixed income, said the way the Fed discusses weaker inflation Wednesday afternoon following its two-day meeting could impact markets. “They should target nominal GDP,” he said, noting that first-quarter real GDP was 3.2% and core inflation was 1.6%. “If you’re running at a nominal GDP that is above trend wi
BlackRock’s Rieder says Fed shouldn’t be too concerned about low inflation Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-05-01  Authors: patti domm
Keywords: news, cnbc, companies, blackrocks, rate, rieder, inflation, concerned, global, low, shouldnt, gdp, rates, interest, think, fed, important


BlackRock's Rieder says Fed shouldn't be too concerned about low inflation

BlackRock’s Rick Rieder said Wednesday the Fed is unnecessarily concerned about low inflation and is more likely to raise interest rates before it cuts them.

Rieder, BlackRock’s global CIO of fixed income, said the way the Fed discusses weaker inflation Wednesday afternoon following its two-day meeting could impact markets. The futures market is pricing in a partial rate hike for 2019, and some investors believe the Fed could have an “insurance” interest rate cut later in the year to make sure the economy doesn’t lose traction.

“I don’t agree,” said Rieder. “I still think there’s a possibility they get one more rate hike in. But I just think they’re not going to do anything for an extended period of time, and I don’t think they need to.”

“I think this is Goldilocks for the Fed. I think they can go away,” he said.

The Fed releases its statement at 2 p.m. ET, just ahead of Fed Chairman Jerome Powell’s press briefing at 2:30 p.m. ET.

“I think the key is how much they downgrade inflation. I think the press conference is important. I think the statement is important. I also think this event on Friday is important in terms of how they’re thinking about where inflation is relative to growth,” said Rieder, referring to a Hoover Institution conference Friday, where Fed policy will be discussed.

Some market pros are hoping to hear more details from Powell on how worried the Fed is about the lack of inflation and at what point it would consider cutting interest rates.

Rieder said he does not believe inflation measures have the same meaning they once did. “We live in an environment where core goods are going to deflate, just because of where technology and globalization have moved to,” he said.

Instead, he believes the Fed should track GDP.

“They should target nominal GDP,” he said, noting that first-quarter real GDP was 3.2% and core inflation was 1.6%. “If you’re running at a nominal GDP that is above trend with inflation staying low, it’s terrific for the population at large. The whole concept of you having to drive inflation higher, why? As long as GDP is buoyant and it is.”

As for the rates outlook, Rieder said he believes the 10-year Treasury yield will be locked in a range for a longer period of time.

“I could see the 10-year moving back to 2.65, 2.70,” he said. But with the easy policy of other global central banks, like the European Central Bank and Bank of Japan, long-end rates should not move much higher.

“I don’t think you’ll see 3% 10-year this year. One of the things that would have to drive it is global growth would have to pick up more,” he said.

Rieder, who is also lead portfolio manager for BlackRock’s Global Allocation Fund, the firm’s largest mutual fund, sees a good environment now for stocks.

“I think equities are going to [be] higher. I think you have a dynamic now if you keep the discount rate on hold, the Fed has functionally given global guidance. With growth picking up and the equity buybacks are still high, what people are beginning to realize is there aren’t enough financial assets in the world relative to demand,” he said. As long as rates stay stable, he said stocks should go higher.


Company: cnbc, Activity: cnbc, Date: 2019-05-01  Authors: patti domm
Keywords: news, cnbc, companies, blackrocks, rate, rieder, inflation, concerned, global, low, shouldnt, gdp, rates, interest, think, fed, important


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Josh Brown on why volatility shouldn’t scare you — even close to retirement

Too much volatility, and you’re likely to panic and make disastrous decisions during the market’s roughest environments. Not enough volatility and you’re probably not taking enough risk to earn the returns you’ll need for later. The right portfolio strategy is typically a mixture of enduring uncertainty for high returns and enjoying less uncertainty but lower returns. It only becomes a real risk if investors act on these feelings, making buy and sell decisions to alleviate mental anguish today a


Too much volatility, and you’re likely to panic and make disastrous decisions during the market’s roughest environments. Not enough volatility and you’re probably not taking enough risk to earn the returns you’ll need for later. The right portfolio strategy is typically a mixture of enduring uncertainty for high returns and enjoying less uncertainty but lower returns. It only becomes a real risk if investors act on these feelings, making buy and sell decisions to alleviate mental anguish today a
Josh Brown on why volatility shouldn’t scare you — even close to retirement Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: josh brown
Keywords: news, cnbc, companies, longterm, close, josh, running, shouldnt, brown, volatility, youre, uncertainty, money, retirement, returns, real, scare, risk, investors


Josh Brown on why volatility shouldn't scare you — even close to retirement

One of the biggest misunderstandings about investing is the role that volatility plays in your portfolio.

Too much volatility, and you’re likely to panic and make disastrous decisions during the market’s roughest environments. Not enough volatility and you’re probably not taking enough risk to earn the returns you’ll need for later.

It’s counterintuitive to think about volatility as your portfolio’s best friend, but once you switch your mindset over to doing so, you’ll become a much stronger and better equipped investor.

Let’s start with the undeniable, incontrovertible fact: Risk and reward are inextricably linked. This is why stocks have returned almost double what bonds have returned over the last seven decades in the post-WWII era. This is in both nominal and real (adjusted for inflation) terms.

Stock investors are taking more risk of drawdowns and volatility than investors in Treasury bonds, and the market’s way of compensating them for that risk is long-term returns that are substantially higher. But they’re not free. Investors must endure much greater uncertainty in the stock market as the price of this outperformance.

The right portfolio strategy is typically a mixture of enduring uncertainty for high returns and enjoying less uncertainty but lower returns. A financial plan can help you figure out what blend makes the most sense given your long-term goals and short-term needs.

Let’s also consider the fact that Wall Street makes most of its money convincing investors that they can either completely contain risk or even remove it from the equation. This is very difficult to do and most investors who attempt it end up disappointed with the results. Some version of risk must always be endured in the pursuit of returns. Risk cannot be eliminated, it can only be transformed into a different type of risk.

Speaking of risk, one of the biggest problems with the way investors think about volatility is that they equate it with risk. But seeing price fluctuations in the short term only feels like risk. It only becomes a real risk if investors act on these feelings, making buy and sell decisions to alleviate mental anguish today at the expense of tomorrow.

For most individual investors, the real risk is not saving enough and not having it grow enough to cover future expenses during retirement.

If running out of money is the true risk, then anything you do today that reduces your probability of growing your nest egg is causing that risk. This means not having enough exposure to stocks while you’re young, working and able to replace lost income.

The most important lesson I’ve ever been taught is that you’re going to have financial risk regardless, so when do you want it? You want it early, and not late, in your lifetime.

Risk is the source of long-term investment returns. Being able to bear the volatility that so many others can’t sets you up to reap the rewards that risk-averse investors have taken themselves out of the running for, by swinging to cash or fleeing into Treasury bonds or hedging away all of their potential upside.

Don’t take yourself out of the running. Stay in the game and remind yourself why you’re playing in the first place.

More from Invest in You:

Check out 4 Money Lessons Everyone Should Know by Age 25 via Grow with Acorns+CNBC.

Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.


Company: cnbc, Activity: cnbc, Date: 2019-04-30  Authors: josh brown
Keywords: news, cnbc, companies, longterm, close, josh, running, shouldnt, brown, volatility, youre, uncertainty, money, retirement, returns, real, scare, risk, investors


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Why you shouldn’t hate on the millennial that wears headphones at work

In the era of open-office floor plans designed to increase collaboration at the expense of privacy, more workers are finding a new space for isolation — headphones. “I listen to music on my headphones because it helps me drown out noise and distractions in the office,” said Reichert. Experts say that contrary to concerns about fostering a team environment, listening to music at work may make workers more productive. The company polled more than 1,000 workers in an office environment and found th


In the era of open-office floor plans designed to increase collaboration at the expense of privacy, more workers are finding a new space for isolation — headphones. “I listen to music on my headphones because it helps me drown out noise and distractions in the office,” said Reichert. Experts say that contrary to concerns about fostering a team environment, listening to music at work may make workers more productive. The company polled more than 1,000 workers in an office environment and found th
Why you shouldn’t hate on the millennial that wears headphones at work Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-17  Authors: caroline gao, special to cnbccom, luis alvarez, getty images
Keywords: news, cnbc, companies, shouldnt, workers, environment, study, millennial, listening, openoffice, headphones, wears, work, music, productive, hate, say, professionals


Why you shouldn't hate on the millennial that wears headphones at work

In the era of open-office floor plans designed to increase collaboration at the expense of privacy, more workers are finding a new space for isolation — headphones.

Such is the case with Christopher Reichert, android software developer at OfferUp, a company that has fully adapted the open-concept workspace. “I listen to music on my headphones because it helps me drown out noise and distractions in the office,” said Reichert.

“While I like working in an open-office environment because it make spontaneous collaboration easier, more distractions can happen both because of noise and because it’s easier for people to start conversations and pull you away from what you’re trying to focus on,” he said.

Experts say that contrary to concerns about fostering a team environment, listening to music at work may make workers more productive.

A study conducted by the staffing firm Accountemps, a subsidiary of global human resources firm Robert Half, found that an increasing number of professionals like listening to music at work and are actually more productive when they do so. The company polled more than 1,000 workers in an office environment and found that 85% like listening to music. In particular, the study found that 71% of professionals say they feel more productive when listening to music.


Company: cnbc, Activity: cnbc, Date: 2019-04-17  Authors: caroline gao, special to cnbccom, luis alvarez, getty images
Keywords: news, cnbc, companies, shouldnt, workers, environment, study, millennial, listening, openoffice, headphones, wears, work, music, productive, hate, say, professionals


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Uber is way more complicated than Lyft, and investors shouldn’t value them the same way

While Uber and Lyft, the top two ride-hailing services in the US, may comprise a duopoly the companies shouldn’t be valued the same way. Uber is known as a ride-hailing business and so is Lyft. In its S-1 filing, Uber reveals that it is already generating significant revenue from business units that it grouped into three broad categories: Personal Mobility, Uber Eats and Uber Freight. Even within the “personal mobility” category, Uber’s business is significantly more complex than Lyft’s. Persona


While Uber and Lyft, the top two ride-hailing services in the US, may comprise a duopoly the companies shouldn’t be valued the same way. Uber is known as a ride-hailing business and so is Lyft. In its S-1 filing, Uber reveals that it is already generating significant revenue from business units that it grouped into three broad categories: Personal Mobility, Uber Eats and Uber Freight. Even within the “personal mobility” category, Uber’s business is significantly more complex than Lyft’s. Persona
Uber is way more complicated than Lyft, and investors shouldn’t value them the same way Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-13  Authors: lora kolodny, drew angerer, ali balikci, anadolu agency, getty images, simon dawson, bloomberg
Keywords: news, cnbc, companies, lyft, mobility, value, business, uber, personal, valued, shouldnt, ridehailing, complicated, way, wayuber, units, companies, investors


Uber is way more complicated than Lyft, and investors shouldn't value them the same way

While Uber and Lyft, the top two ride-hailing services in the US, may comprise a duopoly the companies shouldn’t be valued the same way.

Uber is known as a ride-hailing business and so is Lyft. Both companies offer ride-sharing, carpooling, bike and scooter rentals for short trips on-demand. But the comparisons should probably stop there.

In its S-1 filing, Uber reveals that it is already generating significant revenue from business units that it grouped into three broad categories: Personal Mobility, Uber Eats and Uber Freight. It’s also operating in 63 countries and more than 700 cities while Lyft remains focused on transportation only, in just the US and Canada.

Even within the “personal mobility” category, Uber’s business is significantly more complex than Lyft’s.

Personal mobility


Company: cnbc, Activity: cnbc, Date: 2019-04-13  Authors: lora kolodny, drew angerer, ali balikci, anadolu agency, getty images, simon dawson, bloomberg
Keywords: news, cnbc, companies, lyft, mobility, value, business, uber, personal, valued, shouldnt, ridehailing, complicated, way, wayuber, units, companies, investors


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Ukraine elections shouldn’t derail reform efforts, central bank deputy says

Ukraine is waking up to the prospect of a potentially radical change of political leadership in the coming weeks after comedian and actor Volodymyr Zelensky won a third of the votes in the first round of presidential elections. How a change of leadership could affect the economy’s slow recovery — and reform efforts that are a condition of financial aid from the International Monetary Fund (IMF) — are likely to be at the forefront of Ukraine’s benefactors’ minds. “Of course, what the country need


Ukraine is waking up to the prospect of a potentially radical change of political leadership in the coming weeks after comedian and actor Volodymyr Zelensky won a third of the votes in the first round of presidential elections. How a change of leadership could affect the economy’s slow recovery — and reform efforts that are a condition of financial aid from the International Monetary Fund (IMF) — are likely to be at the forefront of Ukraine’s benefactors’ minds. “Of course, what the country need
Ukraine elections shouldn’t derail reform efforts, central bank deputy says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-02  Authors: holly ellyatt, brendan hoffman, getty images news, getty images
Keywords: news, cnbc, companies, told, leadership, efforts, ukraine, accelerate, won, derail, shouldnt, zelensky, reform, elections, bank, central, change, deputy, reforms


Ukraine elections shouldn't derail reform efforts, central bank deputy says

Ukraine is waking up to the prospect of a potentially radical change of political leadership in the coming weeks after comedian and actor Volodymyr Zelensky won a third of the votes in the first round of presidential elections.

Zelensky, whose only experience of politics is from playing the role of president in a hit TV show, will now face incumbent Petro Poroshenko in a runoff vote on April 21.

How a change of leadership could affect the economy’s slow recovery — and reform efforts that are a condition of financial aid from the International Monetary Fund (IMF) — are likely to be at the forefront of Ukraine’s benefactors’ minds.

“Of course, what the country needs is to accelerate reforms and to accelerate growth to catch up with other countries,” Dmytro Sologub, deputy governor of the National Bank of Ukraine, told CNBC Tuesday.

“I would say the stability is there, but the tale of convergence would be only there if we see a strong push for reform and so on.”

“What is important for us is an independent central bank, and the ability of the politicians and policymakers to perform these reforms,” he told CNBC’s Steve Sedgwick in Kiev.


Company: cnbc, Activity: cnbc, Date: 2019-04-02  Authors: holly ellyatt, brendan hoffman, getty images news, getty images
Keywords: news, cnbc, companies, told, leadership, efforts, ukraine, accelerate, won, derail, shouldnt, zelensky, reform, elections, bank, central, change, deputy, reforms


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On eve of Lyft’s much-hyped debut, Warren Buffett says regular investors shouldn’t buy hot IPOs

On the eve of Lyft’s much-anticipated initial public offering, billionaire investor Warren Buffett said regular investors shouldn’t attempt to buy hot offerings in a hot market. I don’t think it’s anything the average person should think about at all,” Buffett told CNBC’s Becky Quick at The Gatehouse’s Hands Up for Success luncheon in Grapevine, Texas. Last year, he told CNBC he had considered taking a private stake in Uber, Lyft’s ride-hailing rival, which is also expected to debut this year. A


On the eve of Lyft’s much-anticipated initial public offering, billionaire investor Warren Buffett said regular investors shouldn’t attempt to buy hot offerings in a hot market. I don’t think it’s anything the average person should think about at all,” Buffett told CNBC’s Becky Quick at The Gatehouse’s Hands Up for Success luncheon in Grapevine, Texas. Last year, he told CNBC he had considered taking a private stake in Uber, Lyft’s ride-hailing rival, which is also expected to debut this year. A
On eve of Lyft’s much-hyped debut, Warren Buffett says regular investors shouldn’t buy hot IPOs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-28  Authors: liz moyer, david a grogan
Keywords: news, cnbc, companies, warren, buffett, ipos, hot, shouldnt, uber, companies, regular, lyfts, stock, investors, told, think, eve, muchhyped, debut, market


On eve of Lyft's much-hyped debut, Warren Buffett says regular investors shouldn't buy hot IPOs

On the eve of Lyft’s much-anticipated initial public offering, billionaire investor Warren Buffett said regular investors shouldn’t attempt to buy hot offerings in a hot market.

While he was speaking generally of IPOs and not specifically about Lyft, the comments by Berkshire Hathaway’s chairman and CEO come amid a big wave of announced and anticipated IPOs as Silicon Valley’s “unicorns” rush to market. Unicorn is the tech industry’s term for a private company that has achieved a valuation above $1 billion even before selling stock to the public.

The high level of interest in Lyft’s offering has raised its anticipated price, putting a valuation on the ride-hailing company at well over $20 billion even though it is not yet profitable.

Buffett said the last time he bought an IPO was in the 1950s, the debut of Ford Motor.

“I think buying new offerings during hot periods in the market … I don’t think it’s anything the average person should think about at all,” Buffett told CNBC’s Becky Quick at The Gatehouse’s Hands Up for Success luncheon in Grapevine, Texas.

Buffett acknowledged that his world view on the subject means he risks losing out on getting a piece of successful companies when they’re young, like early Amazon or Uber.

Last year, he told CNBC he had considered taking a private stake in Uber, Lyft’s ride-hailing rival, which is also expected to debut this year. But Uber and Berkshire disagreed over the terms and size of the stake. Buffett still told CNBC’s Quick then that he was a big admirer of Uber CEO Dara Khosrowshahi.

But, Buffett said Thursday that it’s better to be safe than sorry when investing in untested companies. “You can go around making dumb bets and win. … It’s not something you want to take as a lifetime policy, though.”

A glut of IPOs this year comes after the deal market dried up during last year’s stock market tumble. Companies that put off their debuts back then are rushing out the door now before it closes again.

The markets have been jittery over falling interest rates, and what they may signal about the state of the economy. Buffett said Thursday that it did appear the economy had slowed down a bit. But, he said, low rates are good for stocks because they naturally draw investors to the stock market for better returns.


Company: cnbc, Activity: cnbc, Date: 2019-03-28  Authors: liz moyer, david a grogan
Keywords: news, cnbc, companies, warren, buffett, ipos, hot, shouldnt, uber, companies, regular, lyfts, stock, investors, told, think, eve, muchhyped, debut, market


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On eve of Lyft’s much-hyped debut, Warren Buffett says regular investors shouldn’t buy hot IPOs

On the eve of Lyft’s much-anticipated initial public offering, billionaire investor Warren Buffett said regular investors shouldn’t attempt to buy hot offerings in a hot market. I don’t think it’s anything the average person should think about at all,” Buffett told CNBC’s Becky Quick at The Gatehouse’s Hands Up for Success luncheon in Grapevine, Texas. Last year, he told CNBC he had considered taking a private stake in Uber, Lyft’s ride-hailing rival, which is also expected to debut this year. A


On the eve of Lyft’s much-anticipated initial public offering, billionaire investor Warren Buffett said regular investors shouldn’t attempt to buy hot offerings in a hot market. I don’t think it’s anything the average person should think about at all,” Buffett told CNBC’s Becky Quick at The Gatehouse’s Hands Up for Success luncheon in Grapevine, Texas. Last year, he told CNBC he had considered taking a private stake in Uber, Lyft’s ride-hailing rival, which is also expected to debut this year. A
On eve of Lyft’s much-hyped debut, Warren Buffett says regular investors shouldn’t buy hot IPOs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-03-28  Authors: liz moyer, david a grogan
Keywords: news, cnbc, companies, investors, shouldnt, debut, think, uber, eve, regular, muchhyped, ipos, buffett, warren, market, stock, companies, hot, told, lyfts


On eve of Lyft's much-hyped debut, Warren Buffett says regular investors shouldn't buy hot IPOs

On the eve of Lyft’s much-anticipated initial public offering, billionaire investor Warren Buffett said regular investors shouldn’t attempt to buy hot offerings in a hot market.

While he was speaking generally of IPOs and not specifically about Lyft, the comments by Berkshire Hathaway’s chairman and CEO come amid a big wave of announced and anticipated IPOs as Silicon Valley’s “unicorns” rush to market. Unicorn is the tech industry’s term for a private company that has achieved a valuation above $1 billion even before selling stock to the public.

The high level of interest in Lyft’s offering has raised its anticipated price, putting a valuation on the ride-hailing company at well over $20 billion even though it is not yet profitable.

Buffett said the last time he bought an IPO was in the 1950s, the debut of Ford Motor.

“I think buying new offerings during hot periods in the market … I don’t think it’s anything the average person should think about at all,” Buffett told CNBC’s Becky Quick at The Gatehouse’s Hands Up for Success luncheon in Grapevine, Texas.

Buffett acknowledged that his world view on the subject means he risks losing out on getting a piece of successful companies when they’re young, like early Amazon or Uber.

Last year, he told CNBC he had considered taking a private stake in Uber, Lyft’s ride-hailing rival, which is also expected to debut this year. But Uber and Berkshire disagreed over the terms and size of the stake. Buffett still told CNBC’s Quick then that he was a big admirer of Uber CEO Dara Khosrowshahi.

But, Buffett said Thursday that it’s better to be safe than sorry when investing in untested companies. “You can go around making dumb bets and win. … It’s not something you want to take as a lifetime policy, though.”

A glut of IPOs this year comes after the deal market dried up during last year’s stock market tumble. Companies that put off their debuts back then are rushing out the door now before it closes again.

The markets have been jittery over falling interest rates, and what they may signal about the state of the economy. Buffett said Thursday that it did appear the economy had slowed down a bit. But, he said, low rates are good for stocks because they naturally draw investors to the stock market for better returns.


Company: cnbc, Activity: cnbc, Date: 2019-03-28  Authors: liz moyer, david a grogan
Keywords: news, cnbc, companies, investors, shouldnt, debut, think, uber, eve, regular, muchhyped, ipos, buffett, warren, market, stock, companies, hot, told, lyfts


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