After announcing that he would introduce new tariffs on imported steel and aluminum, the President tweeted “Trade wars are good”…investors are not so sure. While some would argue that Trump is just making good on his promise to level the international trade playing field, others are concerned that this potential action will hurt the US economy and more importantly, trigger a trade war that could result in the next global recession. You know it’s serious when the Wall Street editorial board called the tariffs “the biggest policy blunder of his presidency”!
Read More
Warren Buffett just released the 2017 Berkshire Hathaway shareholder letter, an annual
missive that is part performance review and part market wisdom, often offered with a
healthy dose of humor and a few jabs at the financial services industry. (One of my
favorites: “When trillions of dollars are managed by Wall Streeters charging high fees, it
will usually be the managers who reap outsized profits, not the clients.”)