Buffett pledged his allegiance to Apple | Coffee's about to get a lot more expensive | [Finimize]( Hi {NAME}, here's what you need to know for May 7th in 3:13 minutes. â âï¸ Finimized over an oat flat white at [Lowdown Coffee]( in Edinburgh, UK (ð¦11°C/51°F) Today's big stories - Buffett mightâve trimmed his Apple stake by 13%, but he made no secret about his long-term plans for the company
- Three wealth experts shared the investments theyâre checking out â [Read Now](
- A wholesale price index of the worldâs second-most popular coffee variety reached its highest level in nearly half a century Hot And Cold [Hot And Cold] Whatâs going on here? Warren Buffett [pledged]( his undying love for Apple at Berkshire Hathawayâs annual meeting on Saturday â despite selling over a tenth of Berkshireâs stake in the firm. What does this mean? Berkshire Hathaway has long indulged in big bites of Apple, but the conglomerateâs loyalty seemed to waver as it cut around 13% of its stake in the tech firm last quarter. The sale pumped up Berkshireâs cash reserves big time, pushing them up to $189 billion by the end of March. Buffett insisted there was no love lost, though, chalking it up to a simple tax-focused decision. He went so far as to say Apple was âeven betterâ than other âwonderfulâ businesses in Berkshireâs portfolio, including American Express and Coca-Cola. At the same time, he maintained that he expects Apple to be the highlight of its holdings for years to come. Why should I care? Zooming out: Willing and Abel. Mind you, investors arenât just interested in Berkshireâs holdings. With Buffett blowing out 94 birthday candles this year, and after the passing of his long-time partner Charlie Munger, onlookers are curious about the next leader of the world-famous company. The honor looks likely to land on Greg Abelâs shoulders. Buffett has complimented Abelâs business acumen and capital management skills, appointing him as Berkshireâs heir apparent back in 2021. If he does indeed secure the plaque, investors might not need to brace for much change: Abel seemingly shares Buffettâs golden rule of betting on the US. The bigger picture: Bills, bills, bills. Buffettâs stocks may as well be playing second fiddle nowadays. The Oracle of Omaha has parked a ton of cash in Treasury bills â potentially up to $200 billion. And with stateside interest rates sitting near their highest point for a decade, that earned him $1.9 billion in interest alone last quarter. You canât blame Buffett for knighting cash as king again. You might also like: [Why Warren Buffett is such a big fan of Apple](. Copy to share story: [( ð [Ask a question](mailto:questions@finimize.com?body=Ask us a question:
Where are you writing from? Let us know and we'll mention it when we reply.&noapp=true&subject=Hot And Cold&utm_campaign=daily-global-07-05-2024&utm_source=email) Analyst Take
Where The Pros Would Invest A Stack Of Cash Right Now [Where The Pros Would Invest A Stack Of Cash Right Now]( [Photo of Reda Farran, CFA] Reda Farran, CFA, Analyst Itâs a truly splendid problem to have: you come into [a little financial windfall]( â say, an overdue bonus at work or a tidy inheritance from a long-lost relative â and you just donât know what to do with it. You can get decent yields on a money market or savings account these days, sure, but to generate higher returns, youâre probably [better off investing it](. Well, it just so happens that [three leading wealth advisors recently shared their top ideas]( with Bloomberg, and Iâve taken them a bit further to help you put them into action. Thatâs todayâs Insight: [where the pros would park some cash right now.]( [Read or listen to the Insight here]( Cup Of Woe [Cup Of Woe] Whatâs going on here? A wholesale price index of the worldâs second-most popular coffee beans reached its highest point in 45 years. What does this mean? Cocoa prices reached a record [high]( this year, striking fear into the hearts of chocoholics. And now, it might be panic stations for those who prefer a double espresso to a hot chocolate. A new report by the International Coffee Organization showed that a wholesale price index for robusta beans rose by 17% in April from the month before, reaching $1.94 a pound â the highest since 1979. This isnât a niche bag of beans, either: robusta beans are among the worldâs most popular, making up around 40% of global coffee consumption. The variety is usually a well-priced option, see, but itâs in short supply after hot and dry weather ravaged crops in Vietnam, which just so happens to be the worldâs biggest producer of robusta beans. Why should I care? Zooming in: This is bigger than your cortado. âEl Niñoâ is a major force behind this yearâs crop failures. The powerful climate event results in wetter conditions in the southern part of the US, but creates drier and hotter weather in much of the rest of the world. And this isnât just make or break for worn-out workersâ morning coffee runs: besides ruining crops, stalling supply chains, and driving up commodity prices, the event can dent economic growth in emerging economies, strain power grids, and exacerbate public health crises. The bigger picture: Central banks are about to be decaffeinated and irritated. Commodities have been doing a public service for the last couple of years. Their prices fell by around 40% between mid-2022 and mid-2023, and that brought global inflation down by two percentage points according to the World Bank. But now that their prices have plateaued, inflation no longer has a weight dragging it down â and thatâs making it harder for central banks to cut interest rates. You might also like: [How to brace your portfolio for El Niñoâs return.]( Copy to share story: [( ð [Ask a question](mailto:questions@finimize.com?body=Ask us a question:
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