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Goldman Sachs jumps into bitcoin ETFs while rivals retreat, and one hedge fund gets bullish on miners
When the SEC opened the door in January for bitcoin exchange-traded funds to hit the mainstream, many traditional financial institutions across Wall Street and beyond finally had the opportunity to buy into crypto. Since then, money has poured in, but in fits and starts. On Wednesday, banks and hedge funds with more than $100 million […]
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On paper the stock market should be great, not on a knife’s edge. But that’s the opportunity
When I look at Thursday’s rally, I am beginning to realize that we have become so binary and so up close that we have lost our ability to think about what matters. The big fish data got caught among the minnow minutiae and we ended up with ridiculous rallies that are, therefore, based on nothing. […]
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JPMorgan Chase is opening more small-town branches in middle America
Three years ago, JPMorgan Chase became the first bank with a branch in all 48 contiguous states. Now, the firm is expanding, with the aim of reaching more Americans in smaller cities and towns. JPMorgan recently announced a new goal within its multibillion-dollar branch expansion plan that ensures coverage is within an “accessible drive time” […]
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Apple shares drop 7% after Warren Buffett’s Berkshire Hathaway slashes stake by half
In this article AAPL BRK.A Follow your favorite stocksCREATE FREE ACCOUNT Warren Buffett walks the floor ahead of the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska, on May 3, 2024. David A. Grogen | CNBC Warren Buffett sent shockwaves through the investing world over the weekend by slashing his big Apple stake by half, […]
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Warren Buffett’s Berkshire Hathaway sold nearly half its stake in Apple
Warren Buffett speaks during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska on May 4, 2024. CNBC Warren Buffett’s Berkshire Hathaway dumped nearly half of its gigantic Apple stake last quarter in a surprising move for the famously long-term-focused investor. The Omaha-based conglomerate disclosed in its earnings filing that its holding in the iPhone […]
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Berkshire’s mounting cash pile could top $200 billion as Buffett continues selling stock
Key Points Berkshire Hathaway’s cash hoard is likely to exceed its previous record of $189 billion when it reports second-quarter earnings Saturday morning. Buffett has been offloading winning investments in Apple, Bank of America and BYD, making some believe the Oracle of Omaha has grown concerned that the bull market is overheated. Source
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Morgan Stanley tells wealth advisors they can pitch bitcoin ETFs in a first for a big bank
Key Points Morgan Stanley on Friday told its army of financial advisors that it will soon allow them to offer bitcoin ETFs to some clients, a first among major Wall Street banks, CNBC has learned. The firm’s 15,000 or so financial advisors can solicit eligible clients to purchase shares of two exchange-traded bitcoin funds starting […]
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Buffett’s Berkshire sells $3.8 billion worth of Bank of America in 12-day selling spree
Warren Buffett speaks during the Berkshire Hathaway Annual Shareholders Meeting in Omaha, Nebraska, May 4, 2024. CNBC Warren Buffett is not done selling Bank of America. Berkshire Hathaway shed a total of 19.2 million BofA shares on Tuesday, Wednesday, and Thursday for almost $779 million at an average selling price of $40.52 per share, according […]
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This AI-powered financial advisor has quickly gained $20 billion in assets
AI-generated responses are becoming more common, whether travelers know or not. Westend61 | Getty Images An automated financial advisor called PortfolioPilot has quickly gained $20 billion in assets in a possible preview of how disruptive artificial intelligence could be for the wealth management industry. The service has added more than 22,000 users since its launch […]
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Lost in the market’s sharp rotation out of tech stocks is a really bullish call on major banks
Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Market slides : The S & P 500 gave back earlier gains and fell throughout Tuesday afternoon, led lower by the mega-cap tech stocks. Ahead of the […]
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