The Daily Editor

OMAHA, Neb. (AP) — Warren Buffett’s company reported just over one-third of last year’s profit Saturday morning just as thousands of Berkshire Hathaway shareholders streamed into an Omaha arena to listen to the revered investor answer questions.

The profit numbers were weighed down by a major drop in the value of its investments and $860 million in insurance losses related to policies that Geico and its other insurance companies wrote before the devastating Southern California wildfires.

 » Read more about: Warren Buffett’s profits fall on wildfire losses as thousands line up to listen to him Saturday  »

OMAHA, Neb. (AP) — Investor Warren Buffett told thousands of Berkshire Hathaway shareholders Saturday that the United States shouldn’t use “trade as a weapon” and anger the rest of the world like President Donald Trump has done with his tariffs that roiled global markets..

“It’s a big mistake in my view when you have 7.5 billion people who don’t like you very well,

 » Read more about: Throngs of admirers fill an arena to get Warren Buffett’s take on tariffs and Berkshire Hathaway  »

“The main thing to do is not use trade as a weapon,” Buffett said. “There’s no question that trade can be an act of war and I think it’s led to bad things, just the attitudes that’s brought out in the United States. We should be looking to trade with the rest of the world,

 » Read more about: Buffett Talks Tariffs. 'We Should Be Looking to Trade With the Rest of the World.'  »

 » Read more about: Berkshire Expects to Hold Japanese Trading Companies for Half-Century, Buffett Says  »

President Donald Trump dismissed worries Friday about a short-term recession, saying the U.S. economy is in a “transition period” and the country will “do fantastically.” 

“You say, ‘Some people on Wall Street say.’ Well, I’ll tell you something else: Some people on Wall Street say that we’re going to have the greatest economy in history,”

 » Read more about: Trump dismisses Wall Street worries about short-term recession: ‘I think we’re going to do fantastically’  »

 » Read more about: Prediction: Nvidia Stock Will Skyrocket After May 28  »

 » Read more about: I’m curious about dividend investing – What age and allocations are others using?  »

Passive investing has gained significant traction among Indian investors, largely because of low costs. Exchange Traded Funds (ETFs) and index funds constitute the two main passive investment vehicles. Both replicate the performance of benchmark indices. Since these funds replicate the same companies and weightings as the indices they follow, they require little active management resulting in lower expense ratios.

 » Read more about: ETFs vs Index Funds: Which is better?  »

The labor market is humming along in spite of headwinds from the Trump administration’s tariffs. Until we see signs of weakening in the economy, mortgage rates are likely to remain near their current levels.

On Friday, the Bureau of Labor Statistics reported that the U.S. economy added 177,000 jobs in April,

 » Read more about: Today's Mortgage Rates | Rates Tick Up on Solid Jobs Data  »

The US stock market is back.

President Trump’s April 2 “Liberation Day” reciprocal tariff announcements sent stocks tumbling. The S&P 500 (^GSPC) fell more than 10% over the next three trading days, marking one of the worst crashes since World War II. At its lows,

 » Read more about: The stock market comes all the way back — and then some: Chart of the Week  »