Yesterday was not a good day for iconic lingerie maker Victoria’s Secret & Co. (VSCO). Sales were down 6% last quarter, worse than Wall Street expected, and the shares finished the trading session down close to 30%. It was the single worst market day in the company’s standalone publicly traded history. But why?
Since Buffett took over Berkshire Hathaway in 1964, he’s slaughtered the market. Yet he has lagged the S&P over the past decade. But that’s the least we should worry about when it comes to Buffett. The man just dropped a bomb.
Members of Congress use “insider knowledge” to trade and invest in the stock market. That is, they’re using information not accessible to the public to pad their bank accounts. Thanks to the STOCK Act, you can know follow the money.
We ate cereal for dinner and we turned out fine… but there’s a lot to worry about when it comes to the American Consumer. Let’s investigate.
For the first time in 12 years, Argentina passed a monthly budget surplus in January, Milei’s first full month as president. The level headed response to debt is to spend less money, right? Why aren’t we taking notes?
I travel a LOT so I’ve accumulated a ton of air miles. Yet, for many years I haven’t received any updates to business class… until my most recent trip. Could this seemingly innocuous change warn of a bigger consumer shift?
Nvidia is all the rage in the investment world right now. But what’s driving the demand for its chips? And even as a leader of the chip market, there’s still room for other players like Amazon, Apple, Microsoft, Alphabet, and Meta to get into the business of building chips. Here’s why it’s worth your while to follow their lead…
A look at how dangerously dependent young people are on the web these days… and how they so badly lack the very basic life skills to succeed and be productive members of society. Plus what President Joe Biden’s student loan forgiveness teaches the indebted. And other stories from the week.
Because we don’t know who will be in the White House come January 2025 – let alone which party will control Congress – we also can’t know what to expect from the tax code. Trump’s 2017 Tax Cuts and Jobs Act are set to expire at the end of 2025. What does this mean? It means that we might all be paying a lot more in taxes in another two years… and not just on our paychecks. The hikes would potentially affect investment income as well as inherited estates. Freeport Society friend Jared Dillian of The Daily Dirtnap has an interesting take on this.
In stark contrast to the official numbers from the U.S. Bureau of Labor Statistics, the experience on the ground is disheartening. Unsurprisingly, the gig economy is expanding three times faster than the U.S. workforce. California Governor, Gavin Newsom, is determined to throw a wrench into this development…
