Buffett is bullish on America. Oil’s sharp slide has surprised markets. Regional banks rebound for a second day as PacWest cuts dividend. Yellen warns of ‘economic chaos’. Plus, Amazon to offer its original movies and films on other sites.
Buffett is bullish on America’s economic prospects. The billionaire said during Berkshire Hathaway’s annual meeting in Omaha that he’s bullish on America’s economic prospects although value investors like himself should get used to “making less”* in part because so many are following similar strategies. He also said that artificial intelligence may change the world but won’t take away opportunities for investors.
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Oil’s sharp slide has surprised markets. The plunge in oil prices will bottom out soon with a more significant pickup in subsequent quarters, some analysts forecast. Oil prices saw their third consecutive weekly decline last week, marking the longest losing run this year. Brent had slipped 8% year-to-date by last Friday.
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