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On today’s show we discuss:
- Buffett didn’t have time to swing
- Buffett on buybacks
- Robinhood raised $280 million
- Other startups aren’t faring so well
- Worst economy in our lifetime
- Roubini is not bullish
- Another vol strategy blew up
- Population growth and commodities
- Iconic brands could disappear
- J. Crew files for bankruptcy
- Almost half of America has credit card debt (survey)
- How Hong-Kong beat COVID-19
Recommendations:
Charts:
Tweets:
In the past 6 weeks, 30M people have filed an initial unemployment claim in the U.S., 16.3% of the US labor force, This more than wiping out the 22M jobs created since 2009.
HI leads at 29%. KY, GA, MI and PA are close behind.
SD, NE and UT are the only states under 10%. pic.twitter.com/CxzGCOvz04
— Jim Bianco (@biancoresearch) May 1, 2020
Warren Buffett on Jay Powell, in his remarks at Berkshire's shareholder meeting this weekend.
"I've always had Paul Volcker up on a special pedestal…. Jay Powell and the Fed board belong up there on that pedestal with him"
The Fed in mid-March did "whatever it takes, squared" pic.twitter.com/NjrVQAJUcb
— Nick Timiraos (@NickTimiraos) May 3, 2020
Grocery inflation due to pandemic: In the past week, prices have risen for fresh meat by 8%, eggs by 31% cheese by 11% and cows milk by 10% versus this time last year via new numbers from @nielsen
— Sara Eisen (@SaraEisen) May 1, 2020
Investors shoved nearly $700 billion into taxable money market funds in March.
That's 4x the previous record month. pic.twitter.com/lKta49KUPN
— Jason Goepfert (@jasongoepfert) April 30, 2020
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