Tag Archives: Warren

Elizabeth Warren tells Wall Street: ‘Bring it on’

Elizabeth Warren in 85 seconds

Elizabeth Warren has a clear message for Wall Street: “Bring it on.”

The senator from Massachusetts said Monday that she will continue to call for financial reforms and for big Wall Street banks to be broken up, despite potential retaliation against Democratic candidates.

Last week, Reuters reported that Citigroup (C), Bank of America (BAC), Goldman Sachs (GS) and J.P. Morgan Chase (JPM) might withhold campaign contributions to Senate Democrats because of Warren’s negative portrayal of Wall Street.

“You bet I believe it’s a serious threat,” Warren told a packed room at a Barnes & Noble in New York City’s Union Square — a few miles north of Wall Street.

“It is so brazen. If they think they can say in public, ‘I don’t like your tone, I don’t like the way you talk about financial regulation’ … I got news for them: bring it on,” the Democrat said.

Related: Elizabeth Warren says the market is broken

Warren stressed that she only wants two things from Wall Street: banks shouldn’t be able to cheat people, and no financial institution should be able to risk destroying the economy because it’s too big to fail.

“If they want to fight on either one of those, I’m ready,” she said to much applause.

Warren says no to presidential run: Several members of the audience held up “Elizabeth Warren for President” signs and chanted “Run, Liz, Run” during the event.

“No, I am not running for president,” Warren said. “I am not going to run for president.”

Elizabeth Warren event March 30 Moumita Ahmed, left, and Emiljana Ulaj hold signs urging Elizabeth Warren to run for president at an event on March 30, 2015 where the senator spoke.

Instead, she called herself a “nerd” who loves her Senate job. Her top priorities at the moment are reducing the interest rate on student loans, increasing funding for the National Institutes of Health and raising the federal minimum wage above $ 7.25 an hour.

Related: Elizabeth Warren is worth millions

Emiljana Ulaj was one of the people holding a sign at the bookstore and urging Warren to run. An immigrant from Albania, she has a full-time job but believes the American Dream is at risk.

“I hope she’s just deliberating about running and didn’t chose this moment to announce,” Ulaj, 28, told CNNMoney. She was pleased to hear Warren stand up to the banks, “That’s when you know you’re making change.”

What’s ahead: The stakes for Warren may be higher if Sen. Charles Schumer, a Democrat from New York with close ties to business, becomes the Senate Democratic leader after Sen. Harry Reid retires in 2016. Schumer is widely viewed as the top candidate for the leadership post.

Schumer and Warren would likely clash on financial regulation, and he might push her to soften her tone in order to help fundraising. If the banks didn’t contribute, the Democratic Senatorial Campaign Committee could lose up to $ 15,000 per bank a year — and possibly more if individual bankers stopped donating as well. Warren is already trying to fight back by asking supporters for donations in a blog post Friday.

Related: Wall Street welcomes expected Chuck Schumer promotion

Warren is currently promoting her book, “A Fighting Chance.” She read from a passage about her fight against the big banks to create the Consumer Financial Protection Bureau, which she says has forced banks to return $ 5 billion “to consumers they cheated.”

Elizabeth Warren: 8 ways to restore the middle class

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Advice from Warren Buffett that could make you rich

Warren Buffett in 90 seconds

The Berkshire Hathaway annual letter is out, and Warren Buffett again finds new ways to preach what he’s been saying for 50 years.

Such consistency has paid off for Buffett: A jaw-dropping return of 1,826,163% over the past half century. That’s an average annual gain of 21.6%, compared to 9.9% for the S&P 500.

You probably can’t do as well as Buffett — he’s got a lot of advantages you don’t — but his advice can get you a lot of the way to reaching your goals.

1. “America’s best days lie ahead”

Remember 2008, the early days of the Great Recession? A lot of people couldn’t imagine better days ahead, got scared and sold their stocks. A massive rally of 200% followed for those with the courage to ride out the tough times.

Buffett and his partner Charlie Munger held strong, and took the opportunity to pick up bargains. True, they’re billionaires and can better afford to do so. But it’s a lesson for all of us.

In 2015, there is no shortage of reasons to worry. But here’s what Buffett has to say about it:

“Charlie and I have always considered a “bet” on ever-rising U.S. prosperity to be very close to a sure thing. Though the preachers of pessimism prattle endlessly about America’s problems, I’ve never seen one who wishes to emigrate (though I can think of a few for whom I would happily buy a one-way ticket). Most assuredly, America’s best days lie ahead.”

2. If you think long, stocks aren’t as risky as you think

Sure, stocks can take you on some scary rides. Bad years with losses of 10% or 20% come around often enough. Specific stocks you own might go to zero if you were really speculating.

But Buffett spends some time telling investors not to mistake those ups-and-downs with risk — provided you build a diversified portfolio of established companies, and are saving for the long term.

Here’s Buffett: “It has been far safer to invest in a diversified collection of American businesses than to invest in securities — Treasuries, for example — whose values have been tied to American currency. That was also true in the preceding half-century, a period including the Great Depression and two world wars. Investors should heed this history. To one degree or another it is almost certain to be repeated during the next century.”

Buffett helpfully outlines the mistakes that will undermine stocks’ potential: “Investors, of course, can, by their own behavior, make stock ownership highly risky. And many do. Active trading, attempts to “time” market movements, inadequate diversification, the payment of high and unnecessary fees to managers and advisors, and the use of borrowed money can destroy the decent returns that a life-long owner of equities would otherwise enjoy.”

Related: Scared of a market crash? Read this

3. Don’t listen to the “experts.”

What are the top strategists saying now? Who cares?

“Anything can happen anytime in markets,” writes Buffett. “And no advisor, economist, or TV commentator — and definitely not Charlie nor I — can tell you when chaos will occur. Market forecasters will fill your ear but will never fill your wallet.”

4. Be decisive

Sometimes you know the right thing to do, but it just “feels” better to go slow.

Even Buffett is vulnerable to that behavior, and he says it cost him in 2014 with his investment in Tesco, the British supermarket chain.

“In 2013, I soured somewhat on the company’s then-management and sold 114 million shares, realizing a profit of $ 43 million. My leisurely pace in making sales would prove expensive. Charlie calls this sort of behavior “thumb-sucking.”

“During 2014, Tesco’s problems worsened by the month. The company’s market share fell, its margins contracted and accounting problems surfaced. In the world of business, bad news often surfaces serially: You see a cockroach in your kitchen; as the days go by, you meet his relatives.”

Buffett finally got out completely, but ended up with a loss of more than $ 400 million.

Related: Warren Buffett knows who the next ‘Buffett’ is

Related: How good is Warren Buffett? Very good

Related: Investors who lose money make these two mistakes

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Top 10 Best Warren Buffett Quotes

Visit us @ http://alltimebest.co/ Top 10 Best Warren Buffett Quotes Here is the list of best Warren Buffett quotes, this list is arranged by which ones are t…

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Warren Buffett loses $2 billion in two days

Warren Buffett in 90 seconds

NEW YORK (CNNMoney)

If you’re having a bad week, consider that Warren Buffett has lost $ 2 billion and it’s only Tuesday.

Buffett is known for shunning the quick buck and focusing on the long-term performance of his investments. He’d best not change that this week.

His Berkshire Hathaway (BRKB) investment house holds big pieces of Coke and IBM, both of which have taken a drubbing in the past two days.

He took a $ 1 billion hit on Coke (KO), which fizzled 6% on Tuesday after the company reported earnings that didn’t live up to expectations. Even worse, Coke said it doesn’t expect a much better 2015.

Coke is one of Buffett’s largest investments. He holds 400 million shares and his son Howard sits on the beverage company’s board. And he likes the products too. Buffett is often seen enjoying Cherry Coke.

Related: Battle of the billionaires: Warren Buffett vs. Jack Ma

The pain started on Monday for Buffett. IBM (IBM, Tech30), another top holding, lost $ 1.3 billion as the stock plunged. The company is looking for a reboot after reporting disappointing earnings and shedding its chip unit at a major loss.

The stock dropped 7% on Monday after then news was announced and slid again on Tuesday. It is off nearly 13% so far this year, and Buffett’s company holds over 70 million shares.

Buffett has made a lot of headlines this year for his misses. His investment in British grocery chain Tesco (TSCDY) has also spoiled, dropping nearly 47% this year.

But it’s not all bad news for Berkshire.

Investors are sticking with their icon. Berkshire stock climbed slightly on Monday and Tuesday, and is up more than 17% this year — far outpacing the broader market.

IBM and Coke may be struggling, but Buffett’s largest position, Wells Fargo, has climbed 11% this year.

And despite the recent market dip, Buffett has been buying. He said in an interview earlier this month that he was shopping, adding, “the more stocks go down, the more I like to buy.”

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