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Category: Stock Market
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Should Value Investors Buy Barrick Gold (GOLD) Stock?
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Elon Musk Soars Past Warren Buffett on Billionaires Ranking
(Bloomberg) — Elon Musk is now richer than Warren Buffett.The fortune of Tesla Inc.’s chief executive officer rose $6.1 billion on Friday, according to the Bloomberg Billionaires Index, after the carmaker’s stock surged 11%. Musk is now the world’s seventh-richest person, also ahead of tech titans Larry Ellison and Sergey Brin.The 49-year-old owns about a fifth of Tesla’s outstanding stock, which comprises the bulk of his $70.5 billion fortune. His majority ownership of closely held SpaceX accounts for about $15 billion.Shares of the electric-car maker have risen 269% this year. The company’s booming valuation helped Musk land a $595 million payday, making him the highest-paid CEO in the U.S.Musk is the latest tech entrepreneur to rise above Buffett in the ranks of the world’s richest. Steve Ballmer, the former Microsoft Corp. CEO, and Google’s co-founders Larry Page and Brin also have leapfrogged the Oracle of Omaha. And Indian tycoon Mukesh Ambani surpassed Buffett this week.Mike Novogratz, the longtime money manager who now runs digital currency investor Galaxy Digital Holdings Ltd., warned that valuations of technology companies are getting way too high and that small investors should get out of the market before it crashes.“We are in irrational exuberance — this is a bubble,” he said Friday in a Bloomberg Television interview. “The economy is grinding, slowing down, we’re lurching in and out of Covid, yet the tech market makes new highs every day. That’s a classic speculative bubble.”Surpassing Buffett may be especially sweet for Musk. In an interview in May, he told comedian Joe Rogan that he wasn’t “the biggest fan” of his fellow billionaire. “He’s trying to find out does Coke or Pepsi deserve more capital? I mean that’s kind of a boring job, if you ask me,” Musk said.Buffett has also criticized Musk, saying last year that although Musk was “a remarkable guy,” he had “room for improvement” in behaving like a CEO, singling out his tweeting habits.Buffett’s fortune dropped earlier this week when he donated $2.9 billion to charity. The 89-year-old has given away more than $37 billion of Berkshire Hathaway shares since 2006. The company’s stock performance has also underwhelmed recently.(Adds Musk comments on Buffett in eighth paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
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Biden unveils economic plan, calls for end to shareholder capitalism
2020 presidential candidate Joe Biden unveiled his economic plan, and called for an end to shareholder capitalism. Yahoo Finance’s Jessica Smith joins the On the Move panel to discuss.from Yahoo Finance https://ift.tt/2ZVPY85
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Big banks set for worst financial quarter since financial crisis
As big banks gear up for earnings season, many investors are anticipating the worst quarter for the banks since the financial crisis. Yahoo Finance’s Brian Cheung joins The Final Round panel to break down the details.from Yahoo Finance https://ift.tt/2ZhYi31
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Amazon tells employees to delete TikTok, then says email was ‘sent in error’
Amazon has told employees to remove TikTok from their phones by Friday end of day, or lose access to their Amazon email.
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Facebook May Ban Political Advertising
Facebook is considering a prohibition on political ads on its platforms, according to multiple media reports. If the social media giant made such a move, it would be a significant about-face to the company's long-held laissez-faire approach to political ads and political speech more broadly, coming just months ahead of the 2020 U.S. elections. Facebook […]
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Infectious Diseases Specialist on the ‘snowball effect’ that occurs when labs are overwhelmed with COVID-19 tests
Dr. Isaac Bogoch, Infectious Diseases Specialist, joined Yahoo Finance’s The Final Round to discuss the latest developments regarding the coronavirus as cases in the U.S. surpass 3.1 million. from Yahoo Finance https://ift.tt/38I79y2
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Why I would put excess funds into ASX dividend shares instead of a savings account
If you have money in the Australia and New Zealand Banking GrpLtd (ASX: ANZ) Online Saver account, you’ll be receiving a base interest rate of just 0.05%.
This means that even if you put $1 million into this savings account, you would yield just $5,000 of interest each year. That’s certainly not enough to live from.
The good news is that there are dividend shares on the Australian share market that offer considerably better yields.
Two top ASX dividend shares that I would invest my excess funds into next week are listed below:
Dicker Data Ltd (ASX: DDR)
The first ASX dividend share to consider buying is Dicker Data. It is a wholesale distributor of computer hardware and software throughout the ANZ region. Earlier this month it released its half year update and revealed that its strong form had continued during the pandemic. Dicker Data reported an unaudited first half net profit before tax of $40 million on revenue of $1 billion. This was an increase of 25% and 18.3%, respectively, over the prior corresponding period. This strong form appears to have put the company in a position to deliver on its plan of lifting its dividend to 35.5 cents per share this year. Based on the latest Dicker Data share price, this equates to a fully franked 4.9% dividend yield.
Rural Funds Group (ASX: RFF)
Another dividend share for income investors to consider switching funds into is Rural Funds. I think the agriculture-focused property group is one of the best options on the local share market. This is due to its very positive long term outlook thanks to its high quality property portfolio, periodic rental increases, and lengthy tenancy agreements. In respect to the latter, at the end of the first half Rural Funds’ weighted average lease expiry stood at 11.5 years. I believe this gives it great visibility with its future earnings and positions it perfectly to grow its distributions consistently in the future. In FY 2021 the company intends to lift its distribution to 11.28 cents per share. Based on the current Rural Funds share price, this works out to be a forward 5.6% distribution yield.
Where to invest $1,000 right now
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of June 30th
More reading
- 4 ASX shares to buy and hold forever
- ANZ said there will be another wave of Victorian businesses collapsing
- ASX 200 down 0.2%: Big four banks tumble, Afterpay surges higher again
- The hidden risk to early superannuation withdrawal that no one told you about
- 3 quality ASX dividend shares to buy today
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Dicker Data Limited and RURALFUNDS STAPLED. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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