berkshire hathaway Elon Musk Tesla U.S. Business News U.S. Market News Warren Buffett 

Elon Musk is About to Wipe Out Warren Buffett’s Biggest Business

By CCN: A new report out of ARK Invest is wildly bullish on self-driving technology powered by the likes of Tesla and Uber.  But the autonomous revolution will come at a huge cost for Warren Buffett’s biggest business: insurance. The firm, which manages $3 billion assets, says the car insurance industry faces its “biggest threat in history” as Elon Musk and others ramp up self-driving networks. In the next 5-10 years, as riders may increasingly choose to travel on autonomous taxi networks, the auto insurance industry (a $220 billion market)…

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cannabis cannabis stocks coca-cola stock U.S. Business News Warren Buffett 

Warren Buffett Is Wrong on Cannabis And It’s Hurting Coca-Cola’s Stock

By CCN: In an interview with Fox Business, Warren Buffett and Charlie Munger of Berkshire Hathaway revealed they would not be a fan of Coca-Cola getting into the cannabis business. Munger said: “It would be a big mistake. [Coca-Cola has] got such a wholesome image and cannabis doesn’t. It’s that simple.” Buffett added: “There’s something in everybody’s mind in the world practically about Coca-Cola…I’m not sure that you would want to muddy that image a little bit.” To a certain extent, that’s true.  Just look at this tweet as an…

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Crypto marc faber Warren Buffett 

Dr. Doom Buys First BTC, Is Warren Buffett next?

Famed Swiss investor, analyst and, until recently, crypto skeptic Marc Faber, 73, has bought his first bitcoin in another sign the old guard of investments is warming to crypto. Speaking to German finance website Cash, Faber revealed he recently bought bitcoin for the first time to learn more about cryptocurrencies and following some persistent and high-profile badgering. Gloom, Boom and Doom His normally pessimistic market outlook earned him the nickname “Dr. Doom.” Faber, with a net worth reportedly around $25 billion, famously predicted the crash of 1987. He pens the…

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Bitcoin Price News Bloomberg dotcom bubble Matt Winkler Warren Buffett 

“Investors Carried Out Mental Gymnastics to Justify Bitcoin Prices”

Matt Winkler Bloomberg co-founder and former Editor-in-Chief, Matt Winkler has likened speculation-driven bitcoin price movements to the dotcom boom of the mid to late 1990s, comparing the excuses given by investors for irrational market optimism at that time to the reasons given by modern day cryptocurrency speculators. Speaking to Emily Chang on Bloomberg Technology, Winkler explained that cryptocurrency investors have attempted to use non-traditional methods to ascertain and justify optimistic valuations for digital assets, which according to him is actually nothing new. Bitcoin Market Compared With Dotcom Crash Referring to a valuation…

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